YOTRIO(SZ:002489)2025-04-21 09:55Financial Performance - The company's operating revenue for 2024 reached ¥5,675,499,064, representing a 17.33% increase compared to ¥4,837,263,518 in 2023[20]. - Net profit attributable to shareholders surged to ¥462,044,337.79, marking an 808.27% increase from ¥50,870,804.10 in 2023[20]. - The net profit after deducting non-recurring gains and losses was ¥161,975,321.98, up 543.52% from ¥25,170,227.99 in 2023[20]. - The basic earnings per share increased to ¥0.21, a 950.00% rise from ¥0.02 in 2023[20]. - The total assets at the end of 2024 were ¥7,992,872,231.29, reflecting a 13.90% increase from ¥7,017,268,642.93 at the end of 2023[20]. - The net assets attributable to shareholders reached ¥4,090,004,038.39, a 12.69% increase from ¥3,629,561,300.92 at the end of 2023[20]. - The company reported a significant decline in net cash flow from operating activities, which was ¥242,864,946.53, down 72.72% from ¥890,429,990.18 in 2023[20]. - The weighted average return on equity improved to 11.98%, up from 1.42% in 2023, indicating enhanced profitability[20]. Dividend Distribution - The company plans to distribute a cash dividend of 0.4 yuan per 10 shares to all shareholders, based on a total of 2,169,016,313 shares[5]. - The total cash dividend for the year is 86,760,652.52 yuan, which represents 100% of the total profit distribution[140]. - The company reported a cash dividend distribution plan for 2023, proposing a cash dividend of 0.10 yuan per 10 shares, totaling 21,690,163.13 yuan[137]. Business Operations and Market Position - The company operates in the outdoor leisure furniture and supplies industry, which has seen continuous growth due to rising consumer demand in developed markets[30]. - The increasing focus on sustainable and stylish outdoor products aligns with consumer trends towards healthier and more refined lifestyles[31]. - The company achieved total revenue of 5.675 billion yuan, an increase of 17.33% year-on-year[39]. - Revenue from outdoor leisure furniture and supplies was ¥5,510,597,891.31, accounting for 97.10% of total revenue, with a growth of 17.02% compared to the previous year[42]. - The company has established a comprehensive sales network in North America and Europe, with significant sales to major retailers like COSTCO and Lowe's[36]. - The company is expanding production capacity in Southeast Asia, with a factory in Vietnam already operational and another in Thailand under preparation[38]. Research and Development - The company obtained 209 domestic patents during the reporting period, including 3 invention patents, 78 utility model patents, and 128 design patents[35]. - The company is actively developing new product lines and enhancing product features through the adoption of new materials and technologies[38]. - The company’s total R&D investment was ¥205,549,431.17, which is 3.62% of operating revenue, down from 4.62% in the previous year[58]. - The number of R&D personnel decreased by 16.49% to 709, with a notable reduction in the number of personnel holding bachelor's degrees[58]. Risk Management - The company acknowledges various risks including exchange rate risk, business model risk, and market competition risk, which may impact future performance[5]. - The company is actively managing risks related to exchange rates, business models, and raw material price fluctuations to ensure stable operations[99][100][103]. - The company emphasizes risk control measures to manage potential losses from currency fluctuations and ensure stable profit levels[80]. Environmental Responsibility - The company strictly adheres to various environmental protection laws and standards during its operations[162]. - The company has implemented a strategy to reduce overall emissions, focusing on compliance with national environmental standards[164]. - The company has established a comprehensive pollution source monitoring and information disclosure system[168]. - The company has achieved "zero" direct discharge of wastewater by implementing a rainwater and sewage diversion system within its facilities[168]. - The company has invested in environmental protection measures, including upgrading forklifts to reduce diesel consumption and installing heat recovery devices on equipment[169]. Corporate Governance - The company maintains complete independence from its controlling shareholders in terms of business operations, personnel, assets, institutions, and finances[111]. - The company has a fully independent financial accounting department and internal audit department, ensuring independent financial decision-making[112]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 581.63 million[121]. - The company has implemented a performance evaluation system for determining the remuneration of its directors and senior management[120]. - The board of directors held a total of 7 meetings during the reporting period, with the latest meeting on December 16, 2024[122]. Employee Management - The total number of employees at the end of the reporting period was 11,603, with 6,292 in the parent company and 5,311 in major subsidiaries[132]. - The company has established a training plan to improve employee efficiency through professional knowledge and skills training[135]. - The company has a structured salary system based on job position, ability, and performance to enhance internal comparability and fairness[134]. - The company has a positive incentive policy for salaries, focusing on fairness and motivation to enhance employee engagement and creativity[134]. Investment and Acquisitions - The company has established new subsidiaries, including Taizhou Yongyue and Vietnam Yongqiang, during the reporting period[94]. - The company has committed to developing new product lines and enhancing production capabilities, with a focus on outdoor leisure goods[85]. - The company plans to invest RMB 21,346,425.00 in Yotrio Vietnam for outdoor furniture construction and international trade, with a 100% ownership stake[73]. Related Party Transactions - The total amount of related party transactions during the reporting period was CNY 20,497.04 million, with a maximum approved amount of CNY 27,170 million[185]. - The company did not engage in any asset or equity acquisition or sale related party transactions during the reporting period[186]. - There were no related party debt and credit transactions during the reporting period[188]. Audit and Compliance - The company has appointed Tianjian Accounting Firm as the auditor for the 2024 fiscal year, with an audit fee of CNY 1.4 million (including tax) and a continuous service period of 19 years[181]. - The company received a standard unqualified opinion in the internal control audit report[158]. - The internal control evaluation report indicates that 100% of the company's consolidated financial statement assets and operating income are included in the evaluation scope[155].