HANGZHOU TOKA(SH:688571)2025-04-21 09:05Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY, representing a year-over-year growth of 15%[16]. - The company achieved operating revenue of CNY 1,269,844,123.27 in 2024, representing a year-on-year increase of 6.75%[23]. - Net profit attributable to shareholders reached CNY 139,044,768.89, up 13.17% compared to the previous year[23]. - The basic earnings per share increased to CNY 0.34, reflecting a growth of 13.33% year-on-year[24]. - The total assets of the company at the end of 2024 amounted to CNY 2,049,432,035.11, a 5.43% increase from the previous year[23]. - The company's net cash flow from operating activities was CNY 197,026,833.53, showing a 7.60% increase year-on-year[23]. - The company reported a total profit of CNY 160,640,700, representing a year-on-year growth of 14.85%[27]. - The net profit after deducting non-recurring gains and losses was CNY 129,706,901.49, up 13.33% year-on-year[23]. - The company reported a revenue of 82,501.02 million RMB from distribution channels, reflecting a year-on-year increase of 4.71%, and 42,636.20 million RMB from direct sales, with a year-on-year increase of 12.02%[146]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 82,513,026.40 (including tax), which represents 90.27% of the net profit attributable to shareholders for the year[6]. - The cash dividend and repurchase amount combined is RMB 125,509,676.76, accounting for 90.27% of the net profit attributable to shareholders[6]. - The company implemented a share repurchase amounting to RMB 42,996,650.36, excluding transaction costs[6]. - The company repurchased 7,563,368 shares, representing 1.8181% of the total share capital of 416,000,000 shares, to boost investor confidence[43]. - The company implemented the first vesting of 4,128,500 shares under the 2023 Restricted Stock Incentive Plan, which will be tradable from September 24, 2024[43]. Market Expansion and Product Development - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next year[16]. - New product development includes the launch of eco-friendly ink products, expected to contribute an additional 5% to overall sales[16]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 30%[16]. - The company plans to enhance its digital marketing efforts, aiming for a 40% increase in online sales channels[16]. - The company is investing in advanced printing technologies, with a budget allocation of 50 million CNY for R&D in the upcoming fiscal year[16]. - The company plans to continue launching new products to meet diverse printing demands, aligning with the trend of personalized printing[162]. Research and Development - Research and development expenses accounted for 4.33% of operating revenue, an increase of 0.32 percentage points from the previous year[24]. - The company achieved a total R&D investment of ¥55,043,208.13, representing a 15.51% increase from the previous year's ¥47,653,566.43[70]. - The company holds a total of 31 granted invention patents and has 7 pending applications under review by the National Intellectual Property Administration[67]. - The company is focusing on the research of wetland pine resin to expand its application range in ink products[73]. - The company is actively involved in the development of eco-friendly ink products and has participated in the formulation of 8 national/industry standards during the reporting period[81]. Environmental and Regulatory Compliance - The company is committed to utilizing clean resources and innovative technologies to reduce carbon emissions in its production processes[124]. - The implementation of new VOCs emission standards is expected to drive the market for low VOCs ink products, benefiting the company's product offerings[122]. - The company is focusing on developing environmentally friendly ink products, including UV inks and water-based inks, to meet increasing regulatory demands[125]. - The ink industry is supported by national policies, with a focus on energy-saving and environmentally friendly ink production included in the "Encouraged Category" of the industrial structure adjustment guidance catalog[52]. Governance and Management - The company has held 2 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[178]. - The board of directors convened 7 meetings during the reporting period, with independent directors fulfilling their duties to protect the rights of all shareholders[178]. - The supervisory board held 6 meetings to independently supervise the company's financial activities and the compliance of directors and senior management[178]. - The company emphasizes investor relations and communication, ensuring timely and accurate information disclosure to protect minority shareholders' rights[179]. - The company has maintained stable governance with no changes in shareholding structure among key personnel during the reporting period[192]. Competitive Landscape and Risks - The company faces risks from intensified market competition, particularly in the UV ink sector, where competitors are increasingly entering the market with lower prices[90]. - The company is exposed to potential overcapacity risks in the ink industry due to increased competition and demand fluctuations[93]. - The company is exposed to environmental risks due to its chemical manufacturing processes, which may require increased investment in compliance with stricter regulations[90]. - The company faced risks related to raw material supply, particularly from its largest supplier, TOKA, which accounted for 5.72% of total procurement[93].