Suzhou Longjie(SH:603332)2025-04-21 08:55Financial Performance - The net profit for 2024 is reported at ¥57,763,484.81, with a proposed cash dividend of ¥2.2 per 10 shares (including tax) for shareholders[4]. - The company's operating revenue for 2024 reached ¥1,678,697,835.81, representing a 5.01% increase compared to ¥1,598,641,147.42 in 2023[20]. - Net profit attributable to shareholders for 2024 was ¥57,763,484.81, a significant increase of 301.73% from ¥14,378,674.32 in 2023[20]. - The basic earnings per share for 2024 was ¥0.27, up 285.71% from ¥0.07 in 2023[21]. - The net cash flow from operating activities for 2024 was -¥13,790,449.16, a decrease of 114.67% compared to ¥94,014,252.38 in 2023[20]. - The total assets at the end of 2024 were ¥1,530,795,020.21, reflecting a 1.78% increase from ¥1,504,001,312.16 at the end of 2023[20]. - The weighted average return on equity for 2024 was 4.61%, an increase of 3.47 percentage points from 1.14% in 2023[21]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching ¥49,053,419.85 in 2024, compared to ¥2,752,080.04 in 2023, marking a 1,682.41% increase[20]. - The company reported a quarterly net profit of ¥27,586,482.42 in Q3 2024, with total revenue for the quarter at ¥505,481,917.50[24]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential risks[5]. - The management has outlined potential risks in the "Management Discussion and Analysis" section of the report[6]. - The company faces risks from macroeconomic changes that could negatively impact the polyester fiber filament industry and its profitability[93]. - The company’s product sales may decline due to changes in market demand, increased competition, or rising raw material prices that cannot be effectively passed on[93]. - The company’s main raw materials, PET and PTT chips, significantly influence production costs, with PET prices experiencing volatility[95]. Corporate Governance - The company has established a robust corporate governance structure, complying with relevant laws and regulations[97]. - The company held three shareholder meetings in 2024, ensuring compliance with legal and procedural requirements[99]. - The company does not face significant legal violations or fund occupation issues during the reporting period[99]. - The total number of shares held by directors and senior management at the end of the reporting period remained unchanged at 11,530,324 shares[100]. - The company has been recognized as a high-tech enterprise and has received multiple awards for technological innovation in the chemical fiber industry[38]. Research and Development - The company’s R&D and technical capabilities are recognized as industry-leading, with a strong focus on new product development and technological advancements[37]. - The total R&D expenditure amounted to ¥53,248,005.94, accounting for 3.17% of total revenue[55]. - The company plans to enhance R&D investment to develop high-value-added products such as ultra-simulated and high-performance fibers[90]. - The company aims to enhance its employee training programs to cultivate professionals with technological innovation capabilities and practical experience[92]. Environmental Responsibility - The company has invested CNY 2.47 million in environmental protection measures during the reporting period[131]. - The company has reduced carbon emissions by 19,598 tons during the reporting period[136]. - Total production in 2023 was 175,772.79 tons, with total carbon emissions of 162,447.00 tons, resulting in a carbon emission of 0.9244 tons CO2 equivalent per ton of product[136]. - The company is replacing diesel forklifts with electric ones to significantly reduce carbon emissions[136]. - Water treatment systems have been upgraded to increase the volume of recycled water used for equipment cooling, effectively conserving water resources[136]. Shareholder Returns - The company plans to distribute cash dividends amounting to CNY 47,443,718.08, which represents 82.13% of the net profit attributable to ordinary shareholders in the consolidated financial statements[126]. - The cash dividend per 10 shares is CNY 2.20, with no stock dividends or capital increases planned[126]. - Over the last three accounting years, the total cash dividends distributed (including tax) amounted to CNY 96,442,898.27, with an average annual net profit of CNY 7,245,192.70, resulting in a cash dividend ratio of 1,331.13%[127]. - The company has established a cash dividend policy that prioritizes cash distribution when the distributable profit is positive, with a minimum cash dividend ratio of 20% for growth-stage companies with significant capital expenditures[125]. Market Position and Strategy - The company maintained a leading position in the development of faux fur fiber, with significant improvements in product structure and quality upgrades in faux suede fiber[30]. - The company successfully launched a new generation of faux mink and faux fox fur products, capturing a significant share of the high-end faux fur market[35]. - The company is strategically located in Jiangsu Zhangjiagang, benefiting from proximity to major textile markets, enhancing sales channels and market responsiveness[41]. - The company aims to increase its market share in differentiated polyester filament by focusing on product innovation and quality[90]. Financial Management - The company has a total of RMB 540 million in bank wealth management products, with an outstanding balance of RMB 490 million and no overdue amounts[154]. - The company has invested RMB 10 million in a bank wealth management product with a projected annual return rate of 1.15%-2.7%[155]. - The total amount of funds raised for the project is 41,728.25 million RMB, with a cumulative investment progress of 105.33% as of the report date[161]. - The company has not utilized idle raised funds for temporary working capital supplementation during the reporting period[164]. Accounting and Audit - The company has appointed a new domestic accounting firm, with an audit fee of RMB 700,000, and the firm has been engaged for 14 years[150]. - The company has not reported any significant changes in accounting estimates for the current year[147]. - The company has committed to ensuring compliance with new regulatory requirements from the China Securities Regulatory Commission and the Shanghai Stock Exchange[145]. - The audit report indicates that the financial statements fairly reflect the financial position and operating results of Suzhou Longjie as of December 31, 2024[184].