Nutrichem(BJ:833819)2025-04-18 14:40Business Performance - The company's operating revenue for 2024 was approximately ¥5.83 billion, a decrease of 0.65% compared to ¥5.87 billion in 2023[28]. - The net profit attributable to shareholders was a loss of approximately ¥587.33 million, representing a decline of 713.83% from a profit of ¥95.68 million in 2023[28]. - The gross profit margin decreased to 10.44% in 2024 from 17.12% in 2023[28]. - Total assets decreased by 5.82% to approximately ¥11.91 billion in 2024, down from ¥12.64 billion in 2023[31]. - The company's debt-to-asset ratio increased to 57.70% in 2024 from 54.21% in 2023[31]. - Cash flow from operating activities significantly improved to approximately ¥249.89 million, a 553.70% increase from ¥38.23 million in 2023[31]. - The company reported a net profit growth rate of -753.67% for 2024, compared to -91.38% in 2023[31]. - The company's operating profit for 2024 was approximately -¥629 million, a decline of 477.21% compared to a profit of ¥167 million in 2023[67]. - The company's net profit for 2024 was approximately -¥596 million, a drastic decline of 753.67% compared to a profit of ¥91 million in 2023[68]. - The company achieved operating revenue of approximately ¥5.83 billion in the reporting period, a decrease of ¥38.42 million compared to the previous year[55]. Research and Development - The company’s self-developed herbicide-resistant cotton KJC017 and insect-resistant herbicide-resistant corn KJ1003 obtained national production application safety certificates in July 2024, indicating readiness for commercialization[6]. - Multiple products from the subsidiary Jiangxi Heyidu won the second prize in the Jiangxi Province Agricultural Science and Technology Award in the first half of 2024, showcasing the company's strength in pesticide R&D innovation[8]. - The company has established a mature independent innovation system with a focus on R&D, participating in multiple national and provincial key R&D projects[47]. - The company collaborates closely with clients during the R&D process to integrate their requirements into product development[41]. - The company’s R&D expenses rose by 4.14% to approximately ¥173 million, reflecting ongoing investment in innovation despite financial challenges[67]. - The total number of patents owned by the company increased to 391, with 216 being invention patents, up from 196 in the previous period[96]. Market Position and Recognition - In May 2024, the company ranked among the top ten in the national pesticide industry sales TOP100 list released by the China Pesticide Industry Association[5]. - In August 2024, the company was listed in the "2024 China Fine Chemical Top 100" and recognized as one of the "Top 20 Innovative Development Enterprises in China Fine Chemicals"[5]. - The company has 1,298 overseas pesticide registration certificates, including 213 self-registered, and 421 domestic pesticide registration certificates, with 157 for active ingredients, positioning it among the industry leaders[49]. - The company continues to serve major agrochemical firms, including ADAMA and SYNGENTA, with advanced technology and products[40]. Environmental and Social Responsibility - The company has implemented various social responsibility initiatives, including cash assistance for rural infrastructure and poverty alleviation, demonstrating its commitment to community support[108]. - The company has established a five-year EHS strategic plan for 2024-2029, focusing on environmental protection goals including waste emission intensity reduction[116]. - The company has committed to reducing carbon emissions in line with national "carbon peak" and "carbon neutrality" goals, promoting sustainable development[117]. - The company has created job opportunities for disadvantaged groups, including the poor and disabled, contributing to social employment[118]. - The company has received tax benefits related to the employment of disabled individuals, allowing for VAT refunds based on the number of disabled employees[91]. Financial Management and Risks - The company faces risks from improper control by major shareholders, with 卓远汇医投资有限公司 holding 47.70% of the shares, potentially impacting operational decisions[167]. - The company's revenue from international sales accounts for approximately 49.57%, making it vulnerable to changes in export tax rebate policies[168]. - The company is subject to a corporate income tax rate of 15% as a high-tech enterprise, which may be affected by changes in national tax policies[168]. - The company is experiencing structural overcapacity in the pesticide market, leading to continuous price declines and adverse effects on operations[171]. - The company is investing in environmental protection measures to comply with increasingly stringent regulations, which may increase operational costs[169]. Future Strategies - The company aims to focus on high-quality sustainable development, transitioning from scale expansion to sustainable growth, while optimizing product quality and core business[151]. - Plans for 2025 include cost reduction and efficiency improvement through lean management and operational streamlining to enhance production efficiency[154][155]. - The company will prioritize product competitiveness by eliminating underperforming products and focusing resources on developing high-value new materials and advanced chemical products[156][157]. - Marketing strategies will shift to target large clients and explore new markets in Southeast Asia, Africa, and Eastern Europe to expand business opportunities[158]. - The company will optimize asset utilization by revitalizing idle assets and improving debt structure to enhance financial efficiency[159][160]. Compliance and Governance - The company continues to adhere to regulatory compliance and governance standards, ensuring the protection of investor interests in accordance with relevant laws and regulations[111]. - The company ensures timely and accurate information disclosure to maintain investor relations and protect the rights of small and medium investors[112]. - The company has not reported any instances of shareholder or related party misappropriation of funds or assets during the reporting period[185]. - The company has no reported violations or irregularities regarding guarantees provided[184].