WBD(SZ:300055)2025-04-18 08:50Financial Performance - The company's operating revenue for 2024 was ¥2,730,930,468.08, a decrease of 3.21% compared to ¥2,821,496,079.31 in 2023[16]. - The net profit attributable to shareholders for 2024 was ¥35,565,924.77, representing an increase of 118.60% from a loss of ¥191,209,954.55 in 2023[16]. - The cash flow from operating activities for 2024 was ¥152,377,997.70, a significant increase of 474.75% compared to a negative cash flow of ¥40,661,259.25 in 2023[16]. - The total assets at the end of 2024 amounted to ¥8,182,818,655.07, reflecting a growth of 13.57% from ¥7,205,397,263.82 at the end of 2023[16]. - The company reported a basic earnings per share of ¥0.0425 for 2024, compared to a loss of ¥0.2293 in 2023, marking an improvement of 118.53%[16]. - The company achieved operating revenue of 2.731 billion yuan in 2024, a year-on-year decrease of 3.21%, with the petrochemical new materials business contributing 2.247 billion yuan, accounting for 82.29% of total revenue[55]. - Net profit reached 44.93 million yuan, an increase of 124.16% year-on-year, while net profit attributable to shareholders was 35.57 million yuan, up 118.60% year-on-year[55]. - The company’s cash flow from operating activities was 152 million yuan, reflecting a significant increase of 474.75% year-on-year[55]. Dividend Distribution - The company plans to distribute a cash dividend of 0.15 yuan per 10 shares to all shareholders, based on a total of 836,749,606 shares[4]. - The company has a total of 12,551,244.09 RMB in cash dividends to be distributed, with a plan to distribute 0.15 RMB per 10 shares based on a total share capital of 836,749,606 shares[170]. - The total cash dividend amount represents 100% of the total profit distribution[172]. - The distributable profit for the year is reported at 653,725,052.07 RMB[172]. - There were no stock bonuses or share increases proposed for this period[172]. Governance and Compliance - The report emphasizes the importance of accurate and complete financial reporting, with the responsible parties affirming the truthfulness of the annual report[4]. - The company has a comprehensive governance structure in place, as outlined in the governance section of the report[6]. - The financial report is audited by Rongcheng Accounting Firm, ensuring compliance and accuracy in financial disclosures[15]. - The company has a board of directors consisting of 7 members, including 3 independent directors, which meets the legal requirements[129]. - The company has established three specialized committees under the board: strategy, nomination, and audit committees, to provide professional advice[129]. - The company adheres to strict internal audit procedures to ensure compliance and risk control[135]. - The company maintains independence from its controlling shareholder in terms of assets, personnel, finance, and operations[136]. - The company emphasizes transparency in information disclosure, ensuring all shareholders have equal access to information[132]. - The company has implemented a performance evaluation and incentive mechanism for all employees, combining base salary with performance assessments[131]. - The internal control system has been established to ensure the achievement of operational goals, covering various management areas[174]. - The company has conducted daily and special supervision of its internal control implementation, effectively mitigating operational risks[175]. - No significant internal control deficiencies were identified during the reporting period[178]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2024[179]. Environmental and Social Responsibility - The company is committed to environmental and social responsibility, as detailed in the report[6]. - The company emphasizes the importance of environmental protection and has implemented strict measures to ensure compliance with pollution discharge standards[119]. - The company has implemented pollution control measures that comply with GB standards for various emissions[188]. - The company is actively monitoring and reporting its emissions to maintain transparency and accountability in its operations[188]. - The company is committed to reducing its environmental impact through continuous monitoring and improvement of its waste management practices[191]. - The company is focusing on the treatment of medical waste, with specific emissions standards in place for hazardous waste[191]. Research and Development - The company has developed a new series of modified petroleum resins (MAC series) that enhance compatibility with polar systems, expanding application areas including hot melt adhesives and rubber[40]. - The company has applied for a total of 4 new patents related to the development of modified resins and wastewater treatment technologies during the reporting period[40][44]. - The company is developing a new wastewater treatment technology based on electron beam irradiation, which is expected to enhance its competitive edge in the industrial wastewater treatment sector[85]. - The company has established a training system to continuously improve organizational learning capabilities and employee skills[166]. - The total number of R&D personnel increased by 1.85% to 110 in 2024, with the proportion of R&D staff rising to 9.49% from 8.27% in 2023[85]. Market and Industry Trends - The company is actively pursuing market expansion and new technology development[6]. - The company has transitioned from a focus on engineering and industrial water operations to a core business in chemical new materials, supported by industrial water treatment and hazardous waste management[26]. - The company is aligned with national policies promoting green and low-carbon transformation, enhancing its strategic positioning in the chemical new materials sector[26]. - The petrochemical industry achieved a revenue of 16.28 trillion yuan, a year-on-year increase of 2.1%, while total profit was 789.71 billion yuan, down 8.8% from the previous year[27]. - The chemical sector generated a revenue of 9.76 trillion yuan, reflecting a 4.6% year-on-year growth, but profits decreased by 6.4% to 454.44 billion yuan, indicating a trend of "increased revenue but decreased profit" across the industry[27]. Operational Developments - The company has established multiple subsidiaries across different regions, enhancing its operational capabilities and market reach[10]. - The company has made significant progress in the construction of the Guangdong Yisco project, which is transitioning from the construction phase to production preparation, with the first phase nearly completed[57]. - The company has developed a comprehensive service model for hazardous waste treatment, which has laid a solid foundation for expanding market share in this sector[49]. - The company has successfully implemented a complete treatment process for high-concentration organic wastewater, achieving high removal rates for pollutants like COD and ammonia nitrogen[44]. - The company is investing in a project in Jieyang with an additional capacity of 11,500 tons/year for isoprene and 24,800 tons/year for isoprene, aimed at expanding production capabilities[35]. Risk Management - The company has outlined potential risks and corresponding countermeasures in its future development outlook section[4]. - The company faces risks from intensified market competition in the hazardous waste industry, necessitating continuous technological innovation to maintain competitiveness[116]. - Safety production risks are acknowledged, particularly in the handling of hazardous chemicals, with a focus on improving safety management practices[120]. Shareholder Engagement - The company held its annual general meeting with a participation rate of 39.21% on May 15, 2024[137]. - The first extraordinary general meeting of 2024 had a participation rate of 35.22% on June 27, 2024[137]. - The second extraordinary general meeting of 2024 had a participation rate of 35.45% on October 30, 2024[138]. - The third extraordinary general meeting of 2024 had a participation rate of 35.30% on December 4, 2024[138].