TSGF(SZ:002800)2025-04-17 11:25Financial Performance - The company's operating revenue for 2024 reached ¥1,529,712,362.16, representing a 61.00% increase compared to ¥950,131,743.19 in 2023 [6]. - The net profit attributable to shareholders for 2024 was ¥8,916,692.73, a significant turnaround from a loss of ¥43,362,133.07 in 2023, marking a 120.56% improvement [6]. - The net profit after deducting non-recurring gains and losses was ¥8,463,764.08, compared to a loss of ¥1,581,356.24 in 2023, reflecting a 635.22% increase [6]. - The company's total assets increased by 37.14% to ¥1,148,683,689.53 at the end of 2024, up from ¥837,597,220.95 at the end of 2023 [6]. - The basic earnings per share for 2024 was ¥0.0586, a recovery from a loss of ¥0.2848 in 2023, indicating a 120.58% improvement [6]. - The weighted average return on equity for 2024 was 1.72%, a significant increase from -8.10% in 2023, showing a 9.82% improvement [6]. - The net cash flow from operating activities for 2024 was -¥306,985,666.83, a decline of 387.83% compared to ¥106,654,583.82 in 2023 [6]. - The company reported a total of ¥171,518,930.60 in revenue for Q1 2024, with a net profit of ¥3,829,143.70 [19]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares to all shareholders, based on a total of 152,253,067 shares [3]. - The distributable profit for the year 2024 is RMB 167,980,000.28, with a proposed cash dividend of RMB 0.30 per 10 shares [137]. - The company reported a cash dividend of RMB 4,567,592.01, which represents 100% of the total profit distribution amount [137]. - The company did not issue any bonus shares or conduct capital reserve transfers during the reporting period [137]. Governance and Compliance - The company has a comprehensive governance structure with all board members present for the report's approval [3]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report [3]. - The company maintains complete independence in business operations, personnel management, asset ownership, and financial decision-making from its controlling shareholders [94]. - The company has established a transparent and fair performance evaluation and incentive mechanism for its directors, supervisors, and senior management [92]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication of significant operational matters to investors [92]. - The company received a warning and a fine of CNY 3,000,000 for failing to disclose related party transactions and significant omissions in the 2022 semi-annual report [116]. - The actual controller, Wang Puyu, was fined CNY 4,350,000 for violations related to information disclosure [116]. - The company is under investigation for failing to disclose related party transactions as required by regulations [115]. Operational Strategy and Market Expansion - The company aims to enhance its logistics capabilities and reduce logistics costs in line with national policies aimed at improving supply chain efficiency [24]. - The company focuses on third-party logistics and supply chain management, providing a comprehensive range of services including supply chain design, management, warehousing, procurement, and distribution [27]. - The company is committed to digital transformation and intelligent upgrades in logistics, which are crucial for supporting high-quality economic development [26]. - The company plans to enhance its international logistics capabilities by establishing a 12-hour air logistics circle centered in Urumqi, targeting the Caspian economic zone [80]. - The company aims to expand its North American market presence by leveraging the Zhejiang digital trade hub to establish cargo routes to Seattle and Mexico City [80]. - The company intends to strengthen its international railway operations by increasing the frequency of international freight trains and promoting regional economic development [80]. - The company is focused on integrating its logistics services across multiple transport modes, including air, rail, and road, to enhance overall service efficiency [79]. Risk Management - The company faces macroeconomic fluctuations that significantly impact its operations, particularly in Xinjiang, and will enhance its risk prevention system [84]. - The company anticipates increased market competition as new logistics service providers emerge in Xinjiang, necessitating a focus on core business advantages [84]. - The company is addressing supply chain management risks by improving accounts receivable collection and financial management to reduce asset-liability ratios [85]. - The company has established various talent recruitment mechanisms to mitigate human resource risks as it expands its operations [85]. - The company has implemented strict safety production regulations to manage risks associated with complex natural conditions in Xinjiang [85]. Subsidiaries and Investments - The company completed the acquisition of Xinjiang Tianhui Supply Chain Co., Ltd. for 24,678,646.45, achieving a 100% ownership stake [68]. - The company established four new supply chain management service companies during the reporting period [51]. - The company has added 4 new subsidiaries to its consolidated financial statements during the reporting period, including a 100% ownership in Hainan Qiantai Jiyu Supply Chain Management Co., Ltd. with a registered capital of RMB 2 million [161]. - The company has reduced the number of subsidiaries in its consolidated financial statements by 5 during the reporting period, including the cancellation of Yili Tianheng Transportation Co., Ltd. on January 15, 2024 [163]. Employee Management and Development - The company has established a comprehensive human resources management system to protect employee rights and ensure compliance with labor laws [146]. - The company has implemented a competitive salary system for middle and senior management to align compensation with performance and market levels [132]. - The company has established a comprehensive training program to enhance employee skills and support strategic development [133]. - The company has a total of 154 employees, with 99 in production, 4 in technology, 26 in finance, and 25 in administration [131]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable practices, continuously enhancing employee awareness of environmental issues [145]. - The company is committed to social responsibility and actively participates in public welfare activities [148]. - The company has not initiated any poverty alleviation or rural revitalization projects during the reporting period [149]. Financial Management and Internal Controls - The internal control system was updated and improved according to the basic norms of internal control, effectively preventing operational risks [139]. - There were no significant internal control deficiencies identified during the reporting period [141]. - The company maintained effective internal control over financial reporting in all material aspects, as confirmed by the standard unqualified opinion in the internal control audit report [143]. - The company has a well-established financial department with independent accounting systems and tax obligations [95].