JHSY(SZ:002597)2025-04-17 11:45Financial Performance - The company's operating revenue for 2024 was ¥5,303,165,938.65, a slight decrease of 0.15% compared to ¥5,311,115,856.62 in 2023[15] - Net profit attributable to shareholders decreased by 20.94% to ¥556,730,365.37 from ¥704,161,741.38 in the previous year[15] - The net profit after deducting non-recurring gains and losses was ¥466,544,187.60, down 23.31% from ¥608,382,594.17 in 2023[15] - Cash flow from operating activities decreased by 39.18% to ¥750,364,977.15 compared to ¥1,233,790,803.57 in 2023[15] - Basic earnings per share fell by 20.47% to ¥1.01 from ¥1.27 in the previous year[15] - Total assets at the end of 2024 were ¥9,885,801,308.18, an increase of 1.78% from ¥9,712,479,118.25 in 2023[15] - Net assets attributable to shareholders increased by 6.44% to ¥7,599,107,043.90 from ¥7,139,523,979.43 in 2023[15] - The weighted average return on equity decreased to 7.58% from 10.03% in the previous year[15] Revenue Breakdown - Revenue from food manufacturing products was 2,753.01 million yuan, a decline of 4.72%, while basic chemicals revenue increased by 5.47% to 2,047.84 million yuan[43] - The company's total revenue for the first quarter was approximately ¥1.21 billion, with a net profit attributable to shareholders of approximately ¥129 million[19] - In the second quarter, revenue increased to approximately ¥1.32 billion, while net profit attributable to shareholders decreased to approximately ¥118 million[19] - The third quarter saw revenue rise to approximately ¥1.50 billion, with net profit attributable to shareholders reaching approximately ¥162 million[19] - The fourth quarter's revenue was approximately ¥1.26 billion, with net profit attributable to shareholders at approximately ¥148 million[19] Market and Industry Insights - The sweetener market is expected to grow at an annual rate of over 15% for natural sweeteners in the coming years, reflecting increasing consumer demand[26] - The global flavor and fragrance market has surpassed $100 billion, with an expected growth rate of around 5% annually[28] - The company's main business, food additives, accounted for over 50% of its revenue, classifying it within the food manufacturing industry[24] Production and Capacity - The production capacity for food additives is 40,060 tons, with a utilization rate of 101.97%[34] - The company has expanded its enzyme-modified stevia production capacity to 1,200 tons per year, receiving FDA-GRAS certification[31] - The company successfully launched a project with an annual production capacity of 60,000 tons of sulfuric acid and 15,000 tons of hydrogen peroxide, providing essential raw material support for developments in new energy and semiconductor materials[44] - The company completed the construction of an 80,000-ton electronic-grade hydrogen peroxide project and is advancing a new generation of lithium battery electrolyte precursor project, which has received all necessary approvals[45] Research and Development - The company added 41 new authorized patents during the reporting period, including 34 invention patents, bringing the total to 321 authorized patents by the end of 2024[53] - R&D expenditure amounted to ¥237,933,892.81, reflecting a slight increase of 1.10% from ¥235,336,147.83, with R&D spending accounting for 4.49% of operating revenue[72] - The company has developed a series of internationally leading core technologies in food additive production, such as sucralose and aspartame, maintaining a leading position in the industry[38] Environmental and Sustainability Efforts - The company has implemented ultra-low emissions and energy-saving transformation plans for its coal-fired power plants[168] - The company is committed to meeting and exceeding environmental regulations to support sustainable operations[170] - Continuous investment in environmental protection has been maintained, with ongoing upgrades to waste treatment facilities and project construction[174] - The company has established a comprehensive environmental protection and governance system, ensuring compliance with emissions standards for waste management[174] Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operation of its board and supervisory committee[109] - The company has three independent directors, maintaining a one-third ratio of independent directors on the board[109] - The management team emphasizes the importance of maintaining shareholder value through effective financial strategies[117] - The company has appointed several independent directors with extensive academic and professional backgrounds, enhancing governance and oversight[121][122][124] Future Plans and Strategies - The company plans to focus on "strategic focus, innovation-driven, quality improvement, and efficiency enhancement" as part of its operational guidelines for 2025[93] - The company aims to strengthen its integrated layout in the circular economy industry and maintain a leading market share while optimizing its business structure[93] - The company will deepen cooperation with domestic and international research institutions to overcome key technological bottlenecks in synthetic biology and green chemistry[95] Risks and Challenges - The company faces environmental governance risks due to stricter regulations and potential penalties for non-compliance, which could impact performance[102] - The company is vulnerable to macroeconomic fluctuations that could affect demand for its bulk chemicals, impacting sales prices and volumes[103] - The company is at risk from raw material price volatility, particularly for bulk chemical raw materials like coal and sulfur, which significantly affect production costs[103] Employee and Social Responsibility - The company invested over ¥5 million in social responsibility initiatives, supporting rural revitalization and educational public welfare[56] - The company has implemented an annual training plan to enhance the skills and management capabilities of employees across various key positions[140] - The company has a total of 671 employees with a bachelor's degree or higher, 1,243 with a college diploma, 1,556 with a secondary vocational education, and 1,340 with a high school education or below[138]