江天化学(300927) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥688,379,172.65, a decrease of 2.92% compared to ¥709,117,773.22 in 2023[16]. - Net profit attributable to shareholders for 2024 reached ¥297,735,338.47, representing a significant increase of 334.35% from ¥68,546,910.88 in 2023[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥40,087,061.25, down 39.48% from ¥66,242,567.24 in 2023[16]. - The net cash flow from operating activities was ¥16,328,708.96, a decline of 81.27% compared to ¥87,183,491.98 in 2023[16]. - Basic earnings per share for 2024 were ¥2.0625, an increase of 334.39% from ¥0.4748 in 2023[16]. - Total assets at the end of 2024 amounted to ¥2,199,096,987.89, a 119.79% increase from ¥1,000,529,837.52 at the end of 2023[16]. - The company reported a total of ¥257,648,277.22 in non-recurring gains for 2024, compared to ¥2,304,343.64 in 2023[22]. - The weighted average return on equity for 2024 was 36.11%, up from 10.36% in 2023[16]. - The company achieved revenue of CNY 688.38 million, a decrease of 2.92% compared to the previous year, while net profit reached CNY 297.74 million, an increase of 334.35% year-on-year[42]. - The company's cash flow from operating activities was CNY 16.33 million, down 81.27% from the previous year[42]. Dividend Distribution - The company plans to distribute a cash dividend of 0.90 RMB per 10 shares to all shareholders, based on a total of 144,360,000 shares[3]. - The profit distribution plan for 2024 includes a cash dividend of 0.90 CNY per 10 shares, amounting to 12,992,400 CNY (including tax), with no stock dividends or capital reserve transfers[153]. - The cash dividend distribution plan aligns with the company's articles of association and has been approved by the board and shareholders[152]. - The company plans to distribute a cash dividend of 1.45 CNY per 10 shares, totaling 20,932,200 CNY (including tax) based on a total share capital of 144,360,000 shares for the 2023 fiscal year[151]. Risk Management - The company emphasizes the importance of risk awareness regarding macroeconomic fluctuations, raw material volatility, and major asset restructuring[3]. - The report outlines potential risks in its future development outlook, particularly in areas such as project construction and accounts receivable[3]. - The company reduced major risks from 17 in 2023 to 10, and the number of significant hazards decreased from 4 to 1[33]. - The company is implementing measures to manage accounts receivable risks, including strengthening collection mechanisms and optimizing contract review processes[104]. - Safety and environmental risks are present due to the nature of raw materials and production processes, prompting the company to enhance safety management and compliance measures[101]. Acquisitions and Investments - The company acquired 100% equity of Sanhe Yajia Fine Chemicals (Nantong) Co., Ltd., which is expected to significantly impact its "one body, two wings" development strategy[27]. - The company completed the acquisition of 100% equity in San Daya, expanding its business into superabsorbent resin, which enhances its product structure and customer diversification[44]. - The company completed the acquisition of 100% equity in SDP Global Co., Ltd. for cash, with the transaction approved on December 4, 2024[198]. - The newly acquired subsidiary, Nantong San Daye Fine Chemicals Co., Ltd., was included in the company's consolidated financial statements as of the end of the reporting period[198]. Research and Development - The company has established 6 R&D projects for 2024, with 29 dedicated and part-time employees involved, accounting for 13.81% of the total workforce[33]. - The company is focused on expanding its market presence by leveraging customer value and technological innovation[36]. - The company is actively developing new products, including high-purity chloromethane and high water-absorbent resins[37]. - The company plans to enhance R&D efforts with multiple products in development, aiming to launch new products based on customer demand in 2025, while also establishing a new R&D center in the southern region[99]. Safety and Environmental Compliance - The company has established a comprehensive safety, environmental protection, and occupational health management system, achieving certifications such as ISO9001, ISO14001, and ISO45001[158]. - The company is classified as a key pollutant discharge unit by environmental protection authorities, adhering to various environmental regulations and standards[168]. - The company's wastewater discharge standards include CODcr ≤ 500 mg/L, ammonia nitrogen ≤ 45 mg/L, and total phosphorus ≤ 8 mg/L, all of which are in compliance with national standards[169]. - The company has implemented upgrades to pollution control facilities, ensuring stable compliance with emission standards[171]. - The company has not experienced any major environmental pollution incidents during the reporting period[171]. Corporate Governance - The company has a total of 9 board members, including 3 independent directors, complying with legal and regulatory requirements[111]. - The supervisory board consists of 5 members, with 2 being employee representatives, and held 7 meetings during the reporting period[112]. - The company maintained a 99.4% response rate to investor inquiries on the interactive platform, ensuring timely communication and information transparency[115]. - The company operates independently from its controlling shareholder in terms of assets, personnel, finance, organization, and business, ensuring a complete and independent operational capability[116]. - The company has established an independent financial department with a clear financial management system, allowing for independent financial decision-making[116]. Employee Management - The company has a total of 374 employees at the end of the reporting period, with 210 in the parent company and 164 in major subsidiaries[148]. - The company has a total of 287 employees with a bachelor's degree or higher, representing approximately 76.7% of the total workforce[148]. - The company emphasizes internal training programs to enhance employee skills and overall company development potential[150]. - The company has implemented a salary policy based on base salary and performance bonuses, with adjustments made according to industry standards[149]. Financial Management - The company has a robust project management system in place, ensuring strict adherence to decision-making procedures and budget controls[158]. - The company has established a detailed management plan for the raised funds to ensure legal and compliant usage, aiming to improve financing structure and profitability[192]. - The company has committed to fulfilling its obligations regarding immediate return measures and ensuring compliance with regulatory requirements[196]. - The company has engaged Xinyong Zhonghe Accounting Firm for internal control auditing, with total audit fees amounting to 480,000 RMB, including 360,000 RMB for financial statement audit and 120,000 RMB for internal control audit[199]. Market Expansion - The company is actively expanding its market by developing new applications for triazine and exploring downstream derivatives[33]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $100 million allocated for potential mergers[132]. - Market expansion plans include entering two new regions, which are projected to increase market share by 10%[131]. Compliance and Legal Matters - The company has not faced any administrative penalties related to environmental issues during the reporting period[174]. - The company has not reported any major lawsuits or administrative penalties in the last three years[179]. - The company has committed to providing accurate and complete information regarding the transaction as per regulatory requirements[179]. - The company has ensured compliance with the disclosure requirements for the chemical industry as mandated by the Shenzhen Stock Exchange[176].