立华股份(300761) - 2024 Q4 - 年度财报

Financial Performance - The company achieved a total revenue of 17.725 billion yuan in 2024, representing a year-on-year growth of 15.44%[3] - The company's operating revenue for 2024 reached RMB 17,724,875,417.76, an increase of 15.44% compared to RMB 15,354,096,858.27 in 2023[25] - The net profit attributable to shareholders for 2024 was RMB 1,520,963,179.35, a significant increase of 447.72% from a loss of RMB 437,409,219.32 in 2023[25] - Basic earnings per share for 2024 were RMB 1.8377, a recovery from a loss of RMB 0.5285 in 2023, marking an increase of 447.72%[25] - The cash flow from operating activities for 2024 was RMB 2,408,025,257.96, reflecting a growth of 66.02% compared to RMB 1,450,479,021.85 in 2023[25] - The company reported quarterly revenues of RMB 5,041,053,369.81 in Q4 2024, showing a consistent growth trend throughout the year[27] - The company has successfully recovered from previous losses, indicating a strong turnaround in financial performance and operational efficiency[25] Production and Sales - The number of listed quality meat chickens reached 516 million, an increase of 12.95% year-on-year; listed meat pigs totaled 1.298 million heads, up 51.8%; and listed meat geese reached 2.0963 million, growing by 21.73%[3] - The slaughtering capacity for meat chickens reached 120 million, with processed fresh chicken products exceeding 60 million, doubling year-on-year[4] - The company sold 516 million meat chickens in 2024, increasing its market share as the total national output was 3.334 billion[49] - The company sold 1.298 million pigs in 2024, reflecting a growth of 51.80% year-on-year[86] - The company sold 2.0963 million geese during the reporting period, establishing a leading position in the integrated goose farming business in China[63] - The company's core business, the yellow feathered chicken segment, saw a revenue increase of 8.01% to 14.531 billion RMB, accounting for 81.98% of total revenue[54] Research and Development - The company's R&D investment for 2024 was 140 million yuan, focusing on technological advancements and efficiency improvements in breeding[3] - The company invested 140.463 million yuan in R&D during the reporting period, with 25 intellectual property applications filed[79] - The company has developed a low-protein diet formula, reducing crude protein levels by 1-2% year-on-year, enhancing breeding efficiency[3] - The company has established a health management system that enhances animal health levels and improves market readiness[78] - The company has increased its R&D personnel to 403 in 2024, a rise of 12.57% from 358 in 2023, with a proportion of 5.05% of total employees[101] Market Strategy and Expansion - The company aims to extend its operations from breeding to food processing, becoming a comprehensive food supplier covering the entire industry chain[8] - The company plans to continue expanding its market presence and investing in new product development to sustain growth in the coming years[25] - The company is focusing on the development of pre-prepared dishes, aligning with national policies to enhance food safety and quality in the industry[38] - The company is actively expanding its market presence through technological innovation and collaboration with agricultural institutions[50] - The company plans to expand its market presence with new projects in Xuzhou and Shaoguan, aiming for a production capacity increase of 18% by the end of 2023[120] Financial Management and Investments - The company plans to distribute a cash dividend of 414 million yuan for 2024, with a total cash dividend rate of 43.53%[7] - The company reported a government subsidy of approximately ¥44.19 million in 2024, an increase from ¥41.98 million in 2023, and ¥30.88 million in 2022, indicating a consistent growth trend in government support[31] - The total investment amount for the reporting period was approximately ¥5.47 billion, representing a year-on-year increase of 10.19% compared to ¥4.97 billion in the previous year[110] - The company has established a database for the growth and development patterns of commercial geese, revising nutritional requirements for 10-week and 14-week old geese[100] - The company has committed to using surplus funds for daily operational expenses while ensuring that outstanding payments for fundraising projects will be settled from the fundraising account[123] Risk Management - The company faces risks related to product price fluctuations, which could impact profitability due to market supply and demand dynamics[138] - The company is exposed to raw material supply and price volatility risks, particularly for key feed ingredients like corn and soybean meal[139] - The company must manage risks associated with animal diseases that could affect production efficiency and market demand[141] - The company employs a combination of policy and commercial agricultural insurance to mitigate risks from natural disasters and animal diseases, ensuring asset and product safety[149] Governance and Compliance - The company has a governance structure with a shareholder meeting as the highest authority, a board of directors for decision-making, and a supervisory board for oversight[165] - The company emphasizes social responsibility and has issued a sustainable development report for 2024, to be disclosed in April 2025[161] - The company maintains transparent information disclosure practices, ensuring timely and accurate communication with investors[162] - The board of directors held a total of 7 meetings during the reporting period, with an average attendance of 2 in person and 5 via communication[181] Employee Management and Training - The company has a total of 7,975 employees, with 6,293 in production, 569 in sales, and 525 in technical roles[190] - The company plans to conduct over 380 professional training sessions in 2024, with more than 7,000 participants expected[192] - The company has established a training team of 59 internal trainers, conducting over 120 sessions in 2024[192] - The company emphasizes a diverse training approach, including internal and external training, to meet various employee learning needs[192]