Financial Performance - The company reported a significant decline in net profit during the fiscal year, with specific reasons and measures for improving profitability detailed in the management discussion section [5]. - The company's operating revenue for 2024 was ¥429,468,011.82, a decrease of 12.23% compared to ¥489,292,586.96 in 2023 [16]. - The net profit attributable to shareholders for 2024 was ¥16,406,148.23, down 85.38% from ¥112,181,787.31 in 2023 [16]. - The cash flow from operating activities for 2024 was ¥47,068,013.45, a decline of 50.33% from ¥94,768,588.39 in 2023 [16]. - The basic earnings per share for 2024 was ¥0.18, representing an 85.25% decrease from ¥1.22 in 2023 [16]. - The total assets at the end of 2024 were ¥2,087,754,088.26, a decrease of 1.34% from ¥2,116,079,866.90 at the end of 2023 [16]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a net loss of ¥8,924,873.45 in 2024 compared to a profit of ¥89,606,898.67 in 2023, marking a 109.96% decrease [16]. - In 2024, the company's total revenue was CNY 42,946.80 million, a decrease of 12.23% year-on-year, with main business revenue at CNY 42,600.68 million, down 11.82% [50]. - The company's net profit attributable to shareholders was CNY 1,640.61 million, a significant decline of 85.38% year-on-year, with a net profit excluding non-operating gains and losses at -CNY 892.49 million, down 109.96% [56]. Dividend Distribution - A cash dividend of 0.91 yuan (including tax) per 10 shares will be distributed to shareholders, based on a total share capital of 90,790,000 shares after excluding repurchased shares [5]. - The company distributed a cash dividend of 6 RMB per 10 shares, totaling 54,996,000 RMB, based on a total share capital of 91,660,000 shares [145]. - The company announced a cash dividend of 0.91 RMB per 10 shares, totaling 8,261,890 RMB (including tax), which represents 100% of the distributable profit [146]. - The total number of shares for the dividend distribution is based on 90,790,000 shares after excluding 880,000 shares repurchased [146]. Market and Industry Outlook - The global pharmaceutical market reached approximately $1.61 trillion in 2023, with an expected compound annual growth rate of 6.85% until 2028 [25]. - The global raw material and intermediate market size was estimated at $180 billion to $200 billion in 2023, with a projected growth rate of 6% to 8% over the next few years [26]. - The Chinese pharmaceutical industry saw a revenue of ¥29,762.7 billion in 2024, remaining flat year-on-year, while profits decreased by 0.9% to ¥4,050.9 billion [27]. - The chemical raw material sector experienced a revenue growth of 0.3% and a profit increase of 6.9% in 2024, contrasting with declines in other sub-sectors [27]. - The global market demand for APIs remains strong, driven by China's technological accumulation and cost advantages, although the average export price has declined due to increasing competition [30]. Research and Development - The company holds 49 patents, including 48 invention patents, and has a robust R&D platform to support sustainable development and reduce reliance on single products [37]. - The company invested CNY 4,062.02 million in R&D in 2024, accounting for 9.46% of total revenue, an increase of 1.14 percentage points year-on-year [58]. - The company is focusing on the registration and certification of high-end lipoic acid raw materials in the European and American regulatory markets to enhance its international market share [45]. - The company aims to expand its international market share through patent applications and regulatory certifications for core products [108]. - The company will continue to increase R&D investment, particularly in the development of new product lines for pharmaceutical intermediates and specialty raw materials [108]. Environmental Compliance - The company has achieved ISO 14001:2015 certification for its environmental management system, reflecting its commitment to environmental protection and sustainable practices [111]. - The company received environmental impact assessment approvals for multiple projects, including a 1000 tons/year project for L-carnitine and derivatives, with approvals dating back to November 2010 [154]. - The company has a valid pollutant discharge permit effective until September 10, 2029, allowing emissions of volatile organic compounds, particulate matter, sulfur dioxide, nitrogen oxides, and other pollutants [155]. - The company has implemented multiple emission outlets, with a total of 3 for ammonia and 2 for benzene [156]. - The company has established a comprehensive environmental management strategy that includes waste gas, wastewater, and noise treatment facilities to meet operational needs [161]. Corporate Governance - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, organization, and business, ensuring a complete and independent business system [118]. - The company has established a clear governance structure with independent boards and committees, ensuring no institutional overlap with controlling shareholders [119]. - The company has a structured remuneration decision-making process based on individual roles and contributions [132]. - The company has established a comprehensive internal audit plan for 2024, reflecting its commitment to governance and oversight [139]. - The company has implemented a comprehensive employee social insurance management system to safeguard labor rights [169]. Strategic Partnerships and Market Expansion - The company aims to expand its market share by actively exploring emerging domestic and international markets, leveraging its competitive advantages in three major product series [45]. - The company is collaborating with large pharmaceutical formulation companies to develop CMO/CDMO business, aiming for sustainable growth in high-end specialty raw materials [45]. - The company is actively developing strategic partnerships with customers and suppliers to enhance cooperation and mutual benefits [169]. - The company plans to strengthen its core product market position by increasing shipment volumes and market share while optimizing production processes to reduce costs [108]. - The company is committed to building a sustainable product portfolio of high-end specialty raw materials and patented raw materials through CMO/CDMO business collaborations [108].
富士莱(301258) - 2024 Q4 - 年度财报