Chunlan(SH:600854)2025-04-18 12:50Financial Performance - The company achieved a net profit attributable to shareholders of RMB 133,335,163.96 in 2024, a decrease of 9.97% compared to RMB 148,103,614.20 in 2023[6]. - Total operating revenue for 2024 was RMB 91,979,899.86, representing a decline of 46.83% from RMB 172,989,651.31 in 2023[23]. - The basic earnings per share for 2024 was RMB 0.2567, down 9.96% from RMB 0.2851 in 2023[24]. - The company reported a total undistributed profit of RMB -272,340,283.89 at the end of the reporting period[6]. - The company's net profit attributable to shareholders was 13.33 million RMB, down 9.97% year-on-year, with the main source of profit being dividend income from equity investments amounting to 12.15 million RMB, an increase of 2.46 million RMB compared to the previous year[33]. - The company's revenue for the reporting period was 91.98 million yuan, a decrease of 46.83% compared to the previous year, primarily due to a 75.38% decline in property sales[43]. - The net profit attributable to shareholders was 13.33 million yuan, down 9.97% year-on-year, with the main profit source being dividend income from other equity investments amounting to 12.154 million yuan, an increase of 2.456 million yuan compared to last year[43]. - The company's total comprehensive income for 2024 was CNY 149,995,808.14, slightly down from CNY 152,361,334.26 in 2023[177]. Cash Flow and Financial Position - The cash flow from operating activities showed a significant improvement, with a net inflow of RMB 62,545,507.23 in 2024, compared to a net outflow of RMB -17,819,896.45 in 2023, marking a 450.99% increase[23]. - The net cash flow from operating activities in Q1 2024 was 82.30 million RMB, indicating a strong cash position despite declining revenues[33]. - The net cash flow from operating activities for 2024 was ¥62,545,507.23, a significant improvement from a negative ¥17,819,896.45 in 2023[178]. - The total cash and cash equivalents at the end of 2024 reached ¥1,103,118,371.00, up from ¥1,011,112,708.85 at the end of 2023[179]. - The net increase in cash and cash equivalents for 2024 was ¥92,005,662.15, a substantial rise from ¥19,570,896.20 in 2023[179]. - The company has a low debt-to-asset ratio and a certain level of financial reserves, providing a buffer for stable operations and future business investments[42]. Assets and Liabilities - The company's net assets attributable to shareholders increased by 3.00% to RMB 2,413,777,799.87 at the end of 2024, compared to RMB 2,343,559,357.15 at the end of 2023[23]. - The total assets of the company at the end of 2024 were RMB 2,453,883,662.77, reflecting a 2.44% increase from RMB 2,395,415,369.14 at the end of 2023[23]. - Total liabilities decreased to CNY 83,342,608.74 in 2024 from CNY 78,684,358.30 in 2023, a reduction of 5.5%[170]. - The company's total assets as of December 31, 2024, were CNY 3,088,874,908.69, up from CNY 3,006,846,857.35 in 2023, indicating a growth of 2.7%[170]. Market and Sales Performance - In Q1 2024, the company achieved operating revenue of 91.98 million RMB, a decrease of 46.83% year-on-year, primarily due to a 75.38% decline in property sales[33]. - Air conditioning sales revenue was 32.69 million RMB, a decrease of 13.91% year-on-year, attributed to insufficient product competitiveness and market development capabilities[34]. - The company sold properties worth 22.09 million RMB in 2024, reflecting a significant decline of 75.38% year-on-year, despite efforts to attract buyers through targeted marketing strategies[35]. - The overall real estate market remains weak, with new residential sales down 17.6% year-on-year, impacting the company's rental business and increasing operational risks[36]. - The company's market position in the air conditioning sector has not improved, with low market share and product shipment volumes failing to increase, contrary to industry growth trends[40]. Research and Development - Total R&D expenditure was CNY 1,119,375.82, accounting for 1.22% of total revenue[55]. - The company plans to enhance its product offerings by developing more energy-efficient products to meet new market demands, although new product development is still ongoing[34]. - The company is focusing on core technology innovations, including variable frequency technology and eco-friendly refrigerants, to maintain competitiveness in the market[69]. - The company plans to enhance product technology innovation and optimize channel layouts to navigate the increasingly competitive air conditioning market[69]. Corporate Governance and Management - The company will continue to enhance its governance structure and compliance operations to ensure sustainable development and value creation for shareholders[75]. - The company has signed a trademark licensing agreement with its controlling shareholder, allowing free use of the "Chunlan" trademark until December 2, 2028[78]. - The company has a structured remuneration management system for senior management, which includes performance evaluations to determine annual bonuses[89]. - The company has appointed Qin Xiaojun and Bian Guomin as non-independent directors of the board[80]. - The company has seen changes in its board composition, with new appointments aimed at enhancing governance and oversight[84]. Environmental and Social Responsibility - The company invested ¥2.82 million in environmental protection during the reporting period, and it has mechanisms in place for pollution prevention and control[114]. - The company has developed an emergency response plan for environmental incidents and has conducted drills to ensure preparedness[118]. - The company has not faced any administrative penalties related to environmental issues during the reporting period, indicating compliance with environmental regulations[120]. Shareholder Information - The total cash dividend distributed to shareholders is RMB 62,335,024.56, representing 46.75% of the net profit attributable to shareholders[106]. - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares, based on a total share capital of 519,458,538 shares[104]. - The total number of common shareholders as of the end of the reporting period is 29,037, an increase from 28,292 at the end of the previous month[138]. - The largest shareholder, Chunan Group, holds 131,630,912 shares, representing 25.34% of the total shares[140].