东岳硅材(300821) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥5,150,649,541.32, representing a 7.27% increase compared to ¥4,801,467,896.50 in 2023 [22]. - The net profit attributable to shareholders was ¥56,761,572.66, a significant turnaround from a loss of ¥271,124,703.38 in the previous year, marking a 120.94% improvement [22]. - The cash flow from operating activities improved to ¥216,372,032.05, a 260.73% increase from a negative cash flow of ¥134,615,492.20 in 2023 [22]. - The basic earnings per share rose to ¥0.05, compared to a loss of ¥0.23 in 2023, reflecting a 121.74% increase [22]. - The company's total assets at the end of 2024 were ¥6,370,533,959.03, a slight increase of 0.70% from ¥6,326,472,507.80 in 2023 [22]. - The company's total revenue from external sales was ¥603,066,157.67, which is a 3.40% increase year-over-year [65]. - The revenue from the 107 glue product was ¥2,798,464,454.52, with an 8.26% year-over-year growth [65]. - The gross profit margin for organic silicon chemical raw material manufacturing was 5.87%, showing a slight increase of 0.81% compared to the previous year [65]. - The company's total operating costs for the organic silicon chemical raw materials segment were ¥4,768,128,790.62, with a year-over-year increase of 5.55% [65]. - The company reported a significant increase of 50.77% in other business income, totaling ¥84,992,330.82 [63]. Market and Industry Insights - The average market price of organic silicon DMC in 2024 was ¥13,900 per ton, a decrease of approximately 6% from 2023 [32]. - The apparent consumption of organic silicon intermediates in China reached 181.6 million tons in 2024, showing a year-on-year growth of 20.9% [34]. - The company anticipates that the supply-demand balance in the organic silicon industry will gradually improve in the coming years as new capacity growth slows down [34]. - The organic silicon market is currently experiencing price fluctuations due to rapid capacity expansion, with prices having dropped below cost levels, but is expected to recover as demand increases [37]. - Emerging industries such as photovoltaics, new energy, and 5G are expected to drive continuous growth in demand for organic silicon materials [38]. Research and Development - The company developed over 30 new product grades during the reporting period, with a total of more than 490 product grades available by the end of 2024 [38]. - The company is involved in significant research projects and has received awards for its technological advancements, including a first-class award for a project on high-purity/special organic silicon materials [39]. - The company completed over 20 technical improvement projects in 2024, significantly enhancing overall efficiency and reducing energy consumption [59]. - The company developed over 20 R&D projects in 2024, successfully launching new products such as silicone gel and MQ silicone resin into the market [60]. - R&D investment amounted to ¥164,155,244.71 in 2024, representing 3.19% of operating revenue, a decrease from 4.86% in 2023 [75]. Governance and Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies, indicating that these do not constitute substantial commitments to investors [5]. - The financial report has been confirmed as true, accurate, and complete by the company's management, including the responsible accounting personnel [5]. - The company has revised its governance structure and internal management systems to comply with relevant laws and regulations, ensuring effective decision-making and protection of shareholder rights [100][101]. - The company has established a performance evaluation and incentive mechanism for senior management, linking their compensation directly to the company's operating performance [107]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring no interference in decision-making [110]. Environmental and Social Responsibility - The company emphasizes safety and environmental management, achieving zero wastewater discharge and being recognized as a "Shandong Province Advanced Unit for Clean Production" [51]. - The company invested a total of 143.72 million yuan in environmental protection measures during the reporting period [162]. - The company has complied with various environmental protection laws and standards, including the Air Pollution Prevention and Control Law [157]. - The company actively respects and protects the rights of stakeholders, promoting environmental protection and corporate social responsibility [108]. - The company has not experienced any environmental accidents during the reporting period [163]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 0.15 RMB per 10 shares to all shareholders, based on a total of 1,200,000,000 shares [5]. - The proposed cash dividend for the 2024 fiscal year is CNY 0.15 per 10 shares, totaling CNY 1,800,000.00 [145]. - The company did not distribute cash dividends for the 2023 fiscal year due to negative distributable profits, ensuring long-term interests of shareholders [144]. - The company’s profit distribution plan aligns with the regulations of the company’s articles of association and dividend management measures [145]. - The company’s independent directors fulfilled their responsibilities in the profit distribution process [144]. Employee and Labor Relations - The total number of employees at the end of the reporting period is 1,222, with 817 in production, 43 in sales, 236 in technology, 14 in finance, and 112 in administration [138]. - The company has established a performance-oriented compensation distribution system that reflects job value and is competitive within the industry [140]. - The company has established a comprehensive training program to enhance employee skills and professional development [141]. - The company emphasizes employee rights protection, focusing on health, safety, and job satisfaction, while providing competitive compensation and training opportunities [165]. - The total hours of outsourced labor amounted to 457,920 hours, with total payments of CNY 16,373,864.00 [142].