GD TIANHE(SZ:002999)2025-04-21 12:25Financial Performance - The company's operating revenue for 2024 was approximately ¥14.45 billion, a decrease of 6.81% compared to ¥15.51 billion in 2023[20]. - The net profit attributable to shareholders for 2024 was approximately ¥22.24 million, down 77.80% from ¥100.16 million in 2023[20]. - The net cash flow from operating activities for 2024 was approximately -¥515.85 million, a decline of 190.81% compared to -¥177.39 million in 2023[20]. - Basic earnings per share for 2024 were ¥0.06, a decrease of 79.31% from ¥0.29 in 2023[20]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which was approximately ¥17.73 million in 2024, down 80.81% from ¥92.40 million in 2023[20]. - The weighted average return on equity for 2024 was 1.83%, a decrease of 6.52% from 8.35% in 2023[20]. - The company faces uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three accounting years[20]. Revenue Breakdown - The fertilizer segment generated ¥10.71 billion, accounting for 74.10% of total revenue, with a year-on-year decline of 10.59%[66]. - The pesticide segment saw an increase in revenue to ¥2.70 billion, representing 18.67% of total revenue, with a growth of 6.21% year-on-year[66]. - The agricultural service revenue surged by 79.09% to ¥471.73 million, reflecting a significant increase in service offerings[65]. Cash Flow and Investments - The net cash flow from financing activities surged by 9,238.76% to ¥1,513,528,397.81, reversing from -¥16,561,639.37 in the previous year[76]. - The total cash and cash equivalents increased by 350.36% to ¥771,660,992.80, compared to -¥308,223,391.53 in 2023[76]. - The company’s total investment for the reporting period was ¥707,162,954.15, a substantial increase of 210.95% from ¥227,423,576.05 in the previous year[86]. Operational Expansion - As of December 31, 2024, the company established 100 distribution centers across 21 provinces and Beijing, serving over 25,000 agricultural service stations and large growers[41]. - The company has provided agricultural socialized services covering over 12 million mu since 2021, with the service area exceeding 5.5 million mu in 2024[42]. - The company has established a comprehensive agricultural service network with 4 regional service centers, 50 county centers, and 516 town and village crop service centers in Guangdong Province[50]. Strategic Initiatives - The company is focusing on enhancing its service capabilities to align with national policies aimed at improving agricultural and rural development[31]. - The company is implementing a comprehensive action plan to reduce chemical fertilizer and pesticide usage by 2025, aiming for a continuous decline in total chemical pesticide usage[32]. - The company is leveraging digital technology to enhance agricultural productivity and management efficiency, with a focus on smart agriculture and data applications[34]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[119]. - The company has established a sound governance structure, complying with the requirements of the Company Law and the Corporate Governance Code[116]. - The company has maintained effective internal controls over financial reporting, with no significant deficiencies identified[176]. Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives, contributing to rural revitalization and agricultural modernization[179]. - The company has supported over 100,000 farmers, resulting in a cost reduction and income increase of over 160 million yuan[186]. - The company donated 982,000 yuan during the "6.30" rural revitalization event and purchased agricultural products worth 392,500 yuan to support poverty alleviation efforts[190]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 25%[3]. - New product launches are expected to contribute an additional $50 million in revenue over the next year[4]. - The company plans to focus on agricultural socialized services and enhance its agricultural technology service network to improve service levels[103].