HX GROUP(SH:600851)2025-04-18 09:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 150,940,806.50 for the year 2024, a decrease of 9.09% compared to RMB 166,030,649.74 in 2023[6]. - Total revenue for 2024 was RMB 795,879,965.10, representing a significant decline of 32.70% from RMB 1,182,570,230.54 in 2023[24]. - The basic earnings per share for 2024 was RMB 0.1250, down 9.16% from RMB 0.1376 in 2023[23]. - The company's net assets attributable to shareholders increased by 9.31% to RMB 4,334,362,916.97 at the end of 2024, compared to RMB 3,965,055,449.29 at the end of 2023[24]. - The operating cash flow for 2024 was RMB 77,516,245.25, a significant recovery from a negative cash flow of RMB -35,882,943.63 in 2023[24]. - The company plans to distribute a cash dividend of RMB 0.40 per 10 shares, totaling RMB 48,282,267.68, which represents 31.99% of the net profit attributable to shareholders[6]. - The weighted average return on net assets decreased to 3.77% in 2024 from 4.26% in 2023, a reduction of 0.49 percentage points[25]. - Total assets increased by 8.57% to RMB 5,331,379,227.76 at the end of 2024, compared to RMB 4,910,625,159.28 at the end of 2023[24]. Revenue Breakdown - The company achieved operating revenue of 796 million yuan in 2024, a decrease of 32.70% year-on-year[34]. - The pharmaceutical segment generated consolidated operating revenue of 437.90 million yuan, with a consolidated net profit of 23.36 million yuan[34]. - The property management segment achieved self-operated rental income of 87.86 million yuan, with a net profit of 55.58 million yuan, showing slight growth year-on-year[36]. - The textile segment reported operating revenue of 124.23 million yuan, a decline of 12.75%, but achieved a net profit of 1.27 million yuan, an increase of 1.18 million yuan year-on-year[38]. - Investment income from associated companies totaled 144.61 million RMB, an increase of 117.76 million RMB year-on-year[46]. Operational Highlights - The decline in revenue was primarily due to the exclusion of Haixin Pharmaceutical from consolidation, which reduced revenue by RMB 117 million, along with a decrease in bulk trade and pharmaceutical manufacturing revenues[25]. - The pharmaceutical manufacturing segment reported revenue of ¥435.86 million, a decrease of 18.25% year-over-year, with a gross margin of 76.59%, down by 3.88 percentage points[50]. - The textile segment achieved revenue of ¥118.03 million, an increase of 2.67% year-over-year, with a gross margin of 18.18%, up by 0.36 percentage points[50]. - The company produced 6,729.55 million units of injection products, with a sales volume decrease of 6.04% year-over-year[52]. Research and Development - The company is advancing multiple R&D projects, including the approval of two specifications for Dexmedetomidine injection[35]. - Research and development expenses totaled ¥24.79 million, representing 3.11% of total revenue, with no capitalized R&D expenditures[62]. - The company’s R&D investment capitalized ratio is 0%, indicating all R&D expenses were expensed in the current period[85]. - The company is developing a Class 3 generic drug for Dexmedetomidine hydrochloride, with approvals expected in February 2025[79]. - The company has not canceled any major R&D projects or failed to obtain approvals during the reporting period[82]. Governance and Compliance - The company has implemented a comprehensive internal control system to ensure compliance and effective governance[39]. - The board consists of 9 directors, including 3 independent directors, fully compliant with legal requirements[121]. - The company has established a performance evaluation and incentive mechanism linking executive compensation to company and individual performance[123]. - The company has implemented a comprehensive information disclosure management system to ensure transparency and equal access to information for all shareholders[124]. - The company has established specialized committees under the board, including a strategy committee and an audit committee, to enhance decision-making efficiency[121]. Environmental Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[178]. - The company has implemented measures to ensure that hydrogen sulfide emissions remain below 0.33 kg/h, in line with pollution control standards[171]. - The company has established emergency response plans for environmental incidents to mitigate potential impacts[176]. - The company has a valid pollution discharge permit, with Gannan Haixin's permit effective until August 5, 2025[175]. - The company has invested CNY 1.88 million in environmental protection during the reporting period[167]. Market Outlook and Strategy - The pharmaceutical manufacturing industry is expected to grow at a rate of 10-12%, with the market size projected to exceed ¥3 trillion by 2025[70]. - The company aims to strengthen its pharmaceutical core business and extend its industrial chain through internal development and external mergers and acquisitions, targeting dual growth in scale and innovation[101]. - The company is positioned in a diversified industry landscape, including pharmaceuticals, property leasing, and textile manufacturing, facing challenges from rising costs and regulatory changes[97]. - The company is actively exploring potential mergers and acquisitions to drive growth and enhance its competitive position in the market[134]. - Future guidance indicates a cautious but optimistic outlook for revenue growth, with specific targets to be communicated in subsequent reports[130].