SHANSHUI TECH.(SZ:301190)2025-04-20 07:36Financial Performance - The company's operating revenue for 2024 reached ¥504,617,322.62, representing a 1.88% increase compared to ¥495,286,440.12 in 2023[30]. - Net profit attributable to shareholders surged by 151.51% to ¥52,954,946.94 in 2024 from ¥21,054,499.99 in 2023[30]. - The net profit after deducting non-recurring gains and losses decreased by 47.63% to ¥60,420,228.72 in 2024 from ¥115,373,183.55 in 2023[30]. - The basic earnings per share increased by 158.00% to ¥0.2531 in 2024 from ¥0.0981 in 2023[30]. - The total assets at the end of 2024 were ¥2,218,238,761.93, a decrease of 9.51% from ¥2,451,410,876.03 at the end of 2023[30]. - The net assets attributable to shareholders decreased by 4.75% to ¥1,927,737,690.83 at the end of 2024 from ¥2,023,840,457.76 at the end of 2023[30]. - The cash flow from operating activities showed a significant decline, with a net outflow of ¥77,323,208.77 in 2024 compared to a net inflow of ¥13,975,199.53 in 2023, marking a 653.29% decrease[30]. - The company reported a quarterly revenue of ¥131,860,484.39 in Q4 2024, with a net profit attributable to shareholders of -¥14,332,279.21[32]. - Non-recurring losses totaled -7,465,281.78 CNY in 2024, a significant decrease from -94,318,683.56 CNY in 2023, while the government subsidies recognized increased to 8,082,956.28 CNY from 2,631,248.86 CNY[36]. - The total distributable profit for the reporting period is 389,187,673.74 yuan, indicating a strong financial position[167]. Dividend Distribution - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders, based on a total share count of 205,350,882 shares as of December 31, 2024[13]. - Total cash dividends, including other methods, amount to 149,718,632.3 yuan, representing 100% of the distributable profit[167]. - The company has not proposed any stock bonus or capital reserve conversion during the reporting period, maintaining a focus on cash dividends[166]. Industry Overview - The fine chemical industry in China achieved a total output value of 15.3 trillion CNY in 2024, representing a year-on-year growth of 7.8%[40]. - The fine chemical market size reached 4.5 trillion CNY in 2024, with a year-on-year increase of 9.1%, driven by rising demand for high-value products like cosmetics and pharmaceutical intermediates[40]. - The fine chemical industry is projected to see a production value growth rate of 15%-20% for specialty chemicals, driven by high-end manufacturing needs[40]. - The company anticipates that the fine chemical industry will enter a new growth cycle driven by "green, high-end, and intelligent" trends by 2025[41]. - The government is expected to implement more proactive fiscal policies and moderately loose monetary policies to stimulate domestic demand, supporting stable industry operations in 2025[43]. Environmental Management - The company is committed to green production practices and has made efforts to reduce pollutant emissions throughout its operations[5]. - The company acknowledges the potential impact of environmental pollution incidents on its operations and financial performance[6]. - The company has implemented strict environmental protection measures but may face increased costs due to evolving regulations and standards[6]. - The company has established a pollution discharge permit valid until July 26, 2028, for its main operations[183]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[183]. - The company reported a total COD discharge of 12.9 tons, with no exceedance of discharge standards[183]. - The company has established a wastewater treatment facility that meets the discharge standards for the Qishan Industrial Park[185]. - The company has implemented measures to reduce carbon emissions, including energy-saving modifications and employee training on environmental awareness[199]. Research and Development - The company has developed a core technology system through years of research and development, positioning itself at the forefront of the industry[8]. - The company has a research and development team of 84 personnel, ensuring continuous innovation and high-quality production processes[53]. - The total R&D investment amounted to ¥29,003,432.45, representing 5.75% of total revenue, an increase from 5.23% in the previous year[75]. - The company has developed proprietary technologies for the continuous production of 2-chloropyridine, enhancing production efficiency[49]. - The company has a total of 41 patents, including 18 invention patents and 23 utility model patents, demonstrating its strong focus on innovation[53]. Risk Management - The company faces risks related to raw material price fluctuations, which could significantly impact profitability if not managed effectively[4]. - The company faces risks related to product price fluctuations due to raw material costs and market competition, which could significantly impact profitability if not managed properly[106]. - Environmental protection risks are present due to the nature of the chemical industry, and the company has implemented measures to reduce emissions and comply with regulations[107]. - The company has established a clear strategy for risk management in its investment activities, focusing on low to medium-risk financial products[112]. Governance and Management - The company has established a comprehensive internal control system to manage risks and ensure compliance with relevant laws and regulations[122]. - The company has a robust governance structure that includes a general meeting of shareholders, a board of directors, and a supervisory board, ensuring legal compliance and protection of shareholder rights[117]. - The board of directors consists of 9 members, complying with legal and regulatory requirements, and includes specialized committees for strategic decision-making[119]. - The company maintains independence from its controlling shareholders in terms of operations, personnel, assets, and finances, ensuring autonomous business capabilities[126]. - The company has a diverse management team with backgrounds in finance, law, and chemical engineering, enhancing its operational capabilities[143]. Employee Management - The total number of employees at the end of the reporting period is 700, with 601 in the parent company and 99 in major subsidiaries[162]. - The professional composition includes 406 production personnel, 20 sales personnel, 173 technical personnel, 13 financial personnel, and 88 administrative personnel[162]. - The company has implemented a training program for employees, focusing on safety education and professional qualifications, enhancing workforce competency[171]. - The company emphasizes safety, environmental protection, and occupational health, maintaining compliance with national regulations and conducting regular training[173]. Safety Management - The company has not experienced any major safety production accidents since its establishment, highlighting its commitment to safety management[7]. - The company emphasizes safety production and has established strict management systems to mitigate risks associated with hazardous materials used in production[108]. - The company has received various safety and hazardous chemical operation permits, ensuring compliance with regulatory standards[51].