Road Environment(SH:688156)2025-04-17 11:00Financial Performance - The company reported a net loss attributable to shareholders of 56,551,531.55 yuan for the year 2024, with the parent company recording a net loss of 45,353,831.06 yuan[7]. - The company's operating revenue for 2024 was CNY 277,618,726.54, a decrease of 20.92% compared to CNY 351,076,211.54 in 2023[24]. - The net profit attributable to shareholders for 2024 was a loss of CNY 56,551,531.55, representing a decline of 309.69% from a profit of CNY 26,969,532.97 in 2023[24]. - Basic and diluted earnings per share for 2024 were both -CNY 0.56, reflecting a 300% decline from CNY 0.28 in 2023[25]. - The company's net assets attributable to shareholders decreased by 6.97% to CNY 834,367,357.99 at the end of 2024, compared to CNY 896,893,683.89 at the end of 2023[24]. - The company has not achieved profitability since its listing[4]. - The company recorded a non-operating income of 3.12 million yuan, significantly lower than the previous year's 65.06 million yuan[35]. - The company's investment income plummeted by 70.11% to ¥657,274, mainly due to reduced returns from structured financial products[150]. Governance and Compliance - The board of directors has proposed not to distribute profits for the year 2024, which includes no cash dividends, no bonus shares, and no capital reserve conversion[7]. - The audit report issued by Da Xin Accounting Firm confirmed the financial statements as true, accurate, and complete[6]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures regarding external guarantees[11]. - The company has not reported any special arrangements in corporate governance[9]. - All board members attended the board meeting, ensuring collective decision-making[5]. - The company held one annual and one extraordinary shareholders' meeting in 2024, ensuring compliance with relevant laws and regulations[198]. Risks and Challenges - The company has described potential risks in the report, which investors should be aware of when considering future investments[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute a commitment to investors[8]. - The company faces risks related to industry downturns and increased competition, which could negatively impact production and operations if demand decreases[130]. - The company faces risks related to the mismatch between new production capacity and market expansion[134]. Research and Development - The company has developed a core technology system for organic residue microbial solid-state fermentation, which has received multiple awards including the second prize for scientific and technological progress in Sichuan Province[24]. - The company has increased its R&D team to 51 members, accounting for 8.95% of the total workforce, with a focus on enhancing technical capabilities in synthetic biology and enzyme engineering[52]. - Research and development (R&D) expenses amounted to ¥19,759,033.83, representing a 44.70% increase compared to the previous year[112]. - R&D expenses accounted for 7.12% of total revenue, an increase of 3.23 percentage points from the previous year[112]. - The company has published two SCI papers on enzyme engineering and fermentation technology, showcasing its advancements in research and development[54]. - The company is leveraging AI technology to innovate in enzyme modification, significantly improving the efficiency of biological conversion processes[98]. - The company is focusing on the development of new feed based on microbial engineering to ensure food security and achieve agricultural carbon neutrality[101]. Market and Product Development - The company is focused on expanding its market presence and enhancing its product offerings, including functional feed materials derived from organic waste[24]. - The company achieved operating revenue of CNY 277.62 million, a decrease of 20.92% compared to the same period last year[26]. - The sales volume of the company's liquor lees biological fermentation feed business reached 112,600 tons, an increase of 20.74% year-on-year, with sales revenue of CNY 216.85 million, up 10.19% year-on-year[26]. - The revenue from the biological fermentation feed business was 216.85 million yuan, an increase of 10.19%, accounting for 78.11% of total operating revenue[43]. - The company plans to enhance the scale effect of its liquor lees biological fermentation feed business as new projects are put into operation, which is expected to gradually reduce the impact of period expenses on profits[30]. - The company has developed innovative products such as "善水路德®酵肽" and "蔺福®" series, enhancing nutritional and functional components for animal feed while addressing environmental concerns[63]. - The company is actively pursuing new strategies for growth, including potential mergers and acquisitions to enhance its technological capabilities and market reach[24]. Environmental and Sustainability Initiatives - The company is committed to reducing antibiotic usage by 30-50% and lowering nitrogen and phosphorus emissions through its microbial fermentation technology[99]. - The company’s fermentation feed services align with national policies focused on sustainable growth and environmental protection, supporting the circular economy in the liquor industry[75]. - The company has developed a technology for the resource utilization of high-concentration brewing wastewater, producing liquid fermentation feed while addressing high treatment costs and environmental concerns[76]. - The company is focused on the high-value utilization of brewing by-products, with ongoing projects aimed at producing γ-PGA and GABA, which are expected to fill domestic production gaps[117]. - The company aims to enhance its market share and brand image by focusing on biomanufacturing and expanding its production capacity in the coming years[92]. Financial Management and Strategy - The company has implemented strict cost control measures, including long-term agreements with liquor companies to stabilize procurement costs[128]. - The company has enhanced its accounts receivable management by linking collection efforts to departmental performance evaluations, improving cash flow efficiency[57]. - The company will implement a centralized budget management system to optimize operational costs and ensure stable cash flow[193]. - The company plans to invest in projects that convert organic waste (such as liquor dregs) into fermentation feed through biotechnology, leveraging policy benefits[184]. - The company aims to integrate the liquor industry with the breeding industry, creating an innovative industrial chain model focused on high-value utilization of brewing waste[184].