保立佳(301037) - 2024 Q4 - 年度财报

Financial Performance - The company achieved a revenue of 2.151 billion RMB in 2024, representing a year-on-year decline of 5.23% due to fluctuations in raw material prices and intensified industry competition[5]. - The net profit attributable to shareholders for 2024 was -150 million RMB, indicating a loss for the year[5]. - The company's operating revenue for 2024 was ¥2,150,776,464.74, a decrease of 5.23% compared to ¥2,269,473,890.51 in 2023[25]. - The net profit attributable to shareholders for 2024 was -¥149,670,051.70, representing a decline of 378.23% from -¥31,296,789.06 in 2023[25]. - The net cash flow from operating activities for 2024 was -¥170,590,632.40, a significant decrease of 168.36% compared to ¥249,562,570.57 in 2023[25]. - The basic earnings per share for 2024 was -¥1.0752, down 383.45% from -¥0.2224 in 2023[25]. - The company reported a net loss of approximately ¥976,727.08 in 2024, compared to a profit of ¥576,669.68 in 2023, indicating a significant decline in financial performance[31]. Strategic Initiatives - The company plans to enhance profitability by adjusting sales strategies, optimizing the industrial chain layout, accelerating overseas capacity expansion, increasing R&D efforts, and promoting internal management reforms[7]. - Future development strategies and operational plans are subject to market conditions and uncertainties, and do not constitute a commitment to investors[7]. - The company aims to solidify its domestic market foundation and expand into overseas markets by 2025, with a strategic focus on achieving the vision of becoming "the world’s Baoli Jia"[108]. - The company is focusing on R&D to develop high-performance, environmentally friendly products, including low-carbon and special function emulsions, to meet evolving customer needs[113]. Market Position and Industry Outlook - The company maintains a strong competitive position in the acrylic emulsion sector, with advanced R&D capabilities and stable customer resources, indicating potential for future growth[6]. - The industry is expected to stabilize and improve in the future due to the gradual elimination of outdated capacity and the recovery of downstream industries and domestic demand[6]. - The construction sector accounts for approximately 74% of the total consumption of acrylic emulsions, highlighting its dominance in the market[37]. - The demand for water-based acrylic emulsions is projected to benefit from infrastructure investments, renovation of old residential areas, and the expansion of new application scenarios[41]. Research and Development - The company has 46 effective invention patents and 20 utility model patents, showcasing its strong innovation capabilities[51]. - The company is focusing on technological advancements in the production of high-performance coatings, including elastic and high-gloss coatings[37]. - The company is actively developing new products and technologies, including low-odor water-based acrylic emulsions and specialized coatings for various applications[54]. - The company has developed a low formaldehyde, formaldehyde-free acrylic emulsion system, which has excellent performance and is widely used in textile coating applications[55]. Environmental Compliance - The company has received multiple environmental management certifications, including a wastewater discharge permit for Yantai New Materials valid from January 2024 to January 2029[58]. - The company has complied with all relevant environmental protection laws and regulations since 2012[184]. - The company has achieved compliance with emission standards across various pollutants, including ammonia at 0.93 mg/Nm³ against a limit of 30 mg/Nm³, indicating no exceedance[186]. - The company has implemented various environmental protection policies and industry standards since 2015[184]. Risk Management - The company faces various risks, including safety and environmental risks, raw material price volatility, accounts receivable risks, talent shortages, and liquidity risks[7]. - The company has increased provisions for asset impairments, including receivables and inventory, to ensure prudent financial management[5]. - The company is addressing raw material price volatility risks by diversifying procurement channels and implementing dynamic inventory management strategies[120]. Corporate Governance - The company has a clear governance structure that complies with relevant laws and regulations, ensuring effective decision-making processes[128]. - The company has established an independent financial accounting system and internal control mechanisms, ensuring compliance with legal regulations and independent financial decision-making[139]. - The company has implemented a performance evaluation system linking the compensation of directors and senior management to their performance[132]. - The company has appointed independent directors and established a supervisory board to enhance corporate governance and accountability[144]. Employee Management - The total number of employees at the end of the reporting period is 463, with 52 in the parent company and 411 in major subsidiaries[165]. - The company implements a compensation system based on position, ability, and performance to enhance operational performance and attract talent[167]. - A training system is established based on a talent development plan, focusing on cultural, management, marketing, and production training[168]. Future Growth Plans - The company aims to enhance its market position by leveraging its advanced technology and production capacity to meet diverse customer needs[51]. - The company plans to expand its overseas market presence, particularly in Southeast Asia, leveraging its Malaysia factory and targeting countries along the "Belt and Road" initiative[111]. - The company is implementing smart manufacturing upgrades, with plans to enhance production efficiency and reduce delivery cycles to under 48 hours by 2025[117].