JSAC(SH:600389)2025-04-21 13:00Dividend Distribution - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares, totaling 43,065,000.00 CNY, which represents 19.19% of the net profit attributable to ordinary shareholders for the year [6]. - In the first half of 2024, the company distributed a cash dividend of 2.00 CNY per 10 shares, amounting to 86,130,000.00 CNY, accounting for 38.38% of the net profit attributable to ordinary shareholders [6]. - The total cash dividend for 2024 is projected to be 3.00 CNY per 10 shares, totaling 129,195,000.00 CNY, which constitutes 57.57% of the net profit attributable to ordinary shareholders [6]. - The company has maintained a focus on balancing long-term development and shareholder returns in its profit distribution policy [161]. - The company has not made any adjustments to its profit distribution policy during the reporting period [160]. Financial Performance - The company's operating revenue for 2024 was CNY 5,431,591,346.96, representing a 6.80% increase compared to CNY 5,085,696,347.20 in 2023 [23]. - The net profit attributable to shareholders for 2024 decreased by 20.69% to CNY 224,399,100.35 from CNY 282,952,031.26 in 2023 [23]. - The net cash flow from operating activities for 2024 was CNY 347,242,212.03, a decline of 54.90% compared to CNY 770,018,562.27 in 2023 [23]. - The basic earnings per share for 2024 was CNY 0.52, down 20.00% from CNY 0.65 in 2023 [24]. - The company achieved a weighted average return on equity of 6.09% in 2024, a decrease of 2.05 percentage points from 8.14% in 2023 [24]. Operational Efficiency - The production capacity utilization rate increased by 7.6 percentage points year-on-year, demonstrating improved operational efficiency [32]. - The company has a production capacity of 70,000 tons/year for glyphosate, making it one of the top four producers in China [39]. - The company has established a comprehensive risk prevention mechanism to enhance internal control effectiveness [33]. - The company has established a comprehensive governance structure and management system, enhancing operational efficiency [40]. Research and Development - The company applied for a record 63 patents during the year, indicating strong innovation efforts [32]. - The company is actively engaged in research on green and efficient pesticide processes and new flame retardants [32]. - The company invested a total of RMB 207.06 million in R&D, with 11 new projects initiated and 17 projects currently under research [85]. - The company completed 11 R&D projects in 2024, with 6 projects carried over to 2025 for continued development, including 17 high-end pesticide formulations approved for sale [85]. - The company is focusing on green and fine chemical technologies, achieving breakthroughs in continuous processes for hazardous operations like chlorination and nitration [86]. Environmental Protection - The company invested 1,341 million CNY in environmental protection during the reporting period [175]. - The company implemented over 30 environmental improvement projects, enhancing its waste treatment capabilities and significantly reducing pollutant discharge intensity [176]. - The company maintained a "green" dynamic environmental credit rating throughout the reporting period [176]. - The company’s subsidiaries reported stable pollutant discharge levels, meeting environmental standards with effective monitoring systems in place [177]. - The company’s overall environmental compliance is reflected in its adherence to the specified discharge limits for various pollutants [182]. Market Performance - The overseas sales revenue increased by over 30% year-on-year, reflecting effective marketing strategies [32]. - The company’s sales revenue for amide herbicides has been steadily increasing, with product quality leading in the domestic market [78]. - The global chemical crop protection market reached $74.806 billion in 2023, with a year-on-year growth of 0.1% [77]. - The global crop protection pesticide market is expected to reach $70.061 billion in 2024, a decrease of 6.4% compared to 2023, with the total pesticide market size at $77.195 billion, down 6.82% year-on-year [108]. Governance and Compliance - The company has established a governance structure that includes a board of directors, supervisory board, and management team to ensure clear responsibilities and independent operations [125]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements [126]. - The company has not faced any penalties from securities regulatory agencies in the past three years [141]. - The company has no significant discrepancies in governance compared to regulatory requirements, ensuring compliance with laws and regulations [128]. Human Resources - The company employed a total of 2,721 staff, with 1,682 in the parent company and 1,039 in major subsidiaries [154]. - The workforce includes 1,694 production personnel, 196 sales personnel, and 624 technical personnel [154]. - The company has established a standardized training system, linking training assessment results directly to employee job grading and promotion [157]. - The company introduced 22 key personnel through a market-oriented compensation mechanism during the reporting period [156]. Strategic Initiatives - The company plans to enhance its investment in R&D for genetically modified herbicides following recent policy changes in the agricultural sector [73]. - The company is positioned to benefit from the "Implementation Plan for the Innovation and Development of the Fine Chemical Industry" which supports mergers and acquisitions [74]. - The company plans to implement mergers and acquisitions to strengthen its core competitiveness and achieve high-quality development [113]. - The company aims to establish a technology barrier through new product and technology breakthroughs, promoting long-term development [86].