甘源食品(002991) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥2,257,260,993.06, representing a 22.18% increase compared to ¥1,847,559,891.15 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥376,190,408.71, up 14.32% from ¥329,060,868.83 in 2023[22]. - The net profit after deducting non-recurring gains and losses was ¥341,329,664.24, reflecting a 16.91% increase from ¥291,953,983.85 in 2023[22]. - The basic earnings per share for 2024 was ¥4.14, a 15.64% increase from ¥3.58 in 2023[22]. - The total assets at the end of 2024 amounted to ¥2,270,416,335.74, an 8.37% increase from ¥2,094,996,172.73 at the end of 2023[22]. - The net assets attributable to shareholders at the end of 2024 were ¥1,714,823,885.36, a slight increase of 1.78% from ¥1,684,817,478.25 in 2023[22]. - The cash flow from operating activities for 2024 was ¥327,372,196.07, which is a 26.95% increase compared to ¥257,874,327.34 in 2023[22]. - The weighted average return on equity for 2024 was 21.58%, up from 20.37% in 2023[22]. Revenue Breakdown - The company's total revenue for Q4 was 651,666,904.63 CNY, showing a significant increase compared to Q2's 456,354,847.63 CNY[26]. - The revenue from the distribution model was CNY 1.93 billion, accounting for 85.36% of total revenue, with a growth rate of 22.58%[43]. - The e-commerce model generated CNY 239 million, representing 10.59% of total revenue, with a growth rate of 10.75%[43]. - E-commerce revenue for 2024 was 239,123,314.08 yuan, accounting for 10.59% of total revenue, with a year-on-year growth of 10.75%[59]. Product Development and Innovation - The company is focusing on product innovation and development to meet the increasing consumer demand for quality and health-oriented snacks[36]. - The company launched several new products during the reporting period, including various flavored beans and snacks, enhancing product innovation and differentiation[41]. - The company has over 100 patents, demonstrating a strong commitment to product innovation and development[73]. - The company has successfully developed a new product, BBQ-flavored yellow mung beans, which improves taste, color, and flavor while reducing raw material waste, enhancing overall product efficiency[102]. Market Trends and Strategy - The company operates in the leisure food industry, which is experiencing a growing demand due to rising disposable income and changing consumer preferences[32]. - The market for snack foods is expected to grow, driven by trends towards health, innovation, and brand recognition in the nut and snack categories[35]. - The competitive landscape in the leisure food sector is evolving, with traditional retail channels transforming and new e-commerce platforms gaining prominence[36]. - The company aims to enhance its market position by leveraging emerging sales channels and adapting to consumer trends towards diverse and healthy food options[36]. Cost Management and Financial Health - The company's main business cost for 2024 is approximately ¥1.46 billion, an increase of 23.66% from ¥1.18 billion in 2023[63]. - Direct material costs account for over 77% of the main business costs, with nuts and seeds being the primary raw materials[64]. - The cost of goods sold was ¥1,456,770,389.94, which is a 23.67% increase from ¥1,177,982,215.93 in the previous year[78]. - The gross profit margin for the food industry was 35.46%, slightly down by 0.78% from the previous year[83]. Shareholder and Governance - The company plans to distribute a cash dividend of ¥17.84 per 10 shares, totaling approximately ¥163,000,000 based on 91,609,959 shares[5]. - The company has established a three-year shareholder return plan (2024-2026) to ensure a stable return mechanism for shareholders[196]. - The company held a total of 5 shareholder meetings during the reporting period, ensuring equal treatment of all shareholders, particularly minority investors[154]. - The company maintains independent financial, personnel, and operational structures, ensuring no overlap with controlling shareholders[160]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential risks in its future development outlook[5]. - The company has implemented measures to control risks associated with price fluctuations, liquidity, and policy changes in the futures market[119]. - The company’s hedging activities primarily aim to lock in raw material costs and prevent price volatility risks, achieving the goal of cost stabilization without significant risks[119]. Employee and Talent Management - The total number of employees at the end of the reporting period is 2,808, with 1,723 in the parent company and 1,085 in major subsidiaries[191]. - The company has implemented a comprehensive training program focusing on talent development, quality, safety, and information technology[193]. - The number of R&D personnel increased by 47.80% from 182 in 2023 to 269 in 2024, with the proportion of R&D personnel rising from 7.41% to 9.58%[103]. Future Outlook - The company is focusing on digital transformation to enhance operational efficiency, aiming to build an agile and flexible intelligent manufacturing system and a fully digital operational capability[139]. - The company aims to expand its market share by introducing innovative products that cater to diverse consumer preferences and health trends[101]. - The company anticipates that the overall benefits from the marketing network upgrade will be realized gradually as production capacity increases[128].