Great Shengda(SH:603687)2025-04-21 14:00Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.5847 per 10 shares, totaling RMB 31,877,023.32 (including tax), which represents 77.14% of the net profit attributable to shareholders for the year[7]. - The board of directors has approved the profit distribution plan, which is subject to shareholder approval at the annual general meeting[7]. - The total number of shares for dividend distribution is based on 545,185,964 shares after accounting for repurchased shares[194]. - The cumulative cash dividend amount over the last three accounting years is 68,980,996.81 RMB, with an average annual net profit of 100,047,613.21 RMB[200]. - The company has established a cash dividend policy that mandates a minimum of 10% of distributable profits to be distributed annually, with higher percentages based on the company's development stage and capital expenditure plans[192]. - In the case of a mature company without significant capital expenditures, the cash dividend proportion should be at least 80% of distributable profits[192]. - The company has not made any adjustments to its cash dividend policy during the reporting period[195]. Financial Performance - The company's operating revenue for 2024 reached ¥2,131,323,536.23, representing a year-on-year increase of 5.84% compared to ¥2,013,810,110.51 in 2023[27]. - The net profit attributable to shareholders for 2024 was ¥106,257,291.90, a 20.00% increase from ¥88,549,878.33 in 2023[27]. - The net profit after deducting non-recurring gains and losses was ¥85,563,938.67, reflecting a significant growth of 32.34% compared to ¥64,655,210.08 in 2023, driven by increased orders for high-end packaging[28]. - The total assets at the end of 2024 amounted to ¥4,463,144,524.71, showing a 1.73% increase from ¥4,387,249,065.45 in 2023[27]. - The net assets attributable to shareholders at the end of 2024 were ¥3,258,789,002.29, a slight increase of 0.67% from ¥3,237,040,823.18 in 2023[27]. - Basic earnings per share for 2024 were ¥0.19, down 5.00% from ¥0.20 in 2023[28]. - The weighted average return on equity for 2024 was 3.29%, a decrease of 0.56 percentage points from 3.85% in 2023[28]. Share Repurchase - The total share capital as of March 31, 2025, is 550,031,864 shares, with 4,845,900 shares held in the repurchase account excluded from the dividend distribution[7]. - The company has implemented a share repurchase amounting to RMB 50,095,035 during the year[7]. - The company initiated a share repurchase plan in February 2024, with a total repurchase amount of 50.095 million yuan, aimed at maintaining investor interests and enhancing long-term incentive mechanisms[45]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period[11]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not violated any decision-making procedures regarding external guarantees[10]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting the importance of investment risk awareness[8]. - The company faces risks from fluctuations in raw material prices, particularly for paper, which could significantly impact operating performance[151]. - The expansion into high-end packaging and equipment sectors poses management challenges, especially with new product categories entering international markets[152]. - The company is exposed to intensified competition in the paper packaging industry, particularly in the mid-to-high-end corrugated box market[153]. - The acquisition of Fornax B.V. introduces risks related to cross-industry mergers, particularly in integrating technology and business operations[156]. Market Expansion and Strategy - The company is actively exploring overseas markets in Southeast Asia and Europe and America to provide comprehensive packaging solutions[39]. - The company plans to expand its high-end boutique packaging business, targeting increased market share in the premium tobacco and liquor packaging sectors[145]. - The company will actively promote its new business segments, particularly in environmentally friendly pulp tableware, while optimizing domestic and international market strategies[146]. - The company aims to enhance its core business and strengthen market foundations by focusing on cost control and management efficiency in 2025[144]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $30 million earmarked for potential mergers[169]. Research and Development - The company has developed an advanced industrial internet platform, E-packET, which integrates data systems to enhance production efficiency and order response speed[81]. - The company holds 52 invention patents and has collaborated with universities to develop innovative packaging solutions, showcasing its strong R&D capabilities[83]. - The company has established an AI joint laboratory with Peking University to enhance industry efficiency and packaging quality through AI solutions[84]. - The company intends to enhance its R&D capabilities by integrating the expertise of its Dutch technical team with its domestic team to develop new equipment that meets market demands[147]. - The total R&D expenditure amounted to ¥82,853,258.50, representing 3.89% of the operating revenue[109]. Governance and Compliance - The company has established a governance structure that ensures clear responsibilities and operational norms among its decision-making bodies[158]. - The company has a board of 7 members, including 3 independent directors, complying with legal and charter requirements[161]. - The supervisory board consists of 3 members, including 1 employee representative, and held 8 meetings during the reporting period[162]. - The company respects and maintains the rights of stakeholders, including shareholders, creditors, employees, suppliers, customers, and the public[163]. - The company has established several information disclosure management systems to ensure accurate and complete information disclosure[165]. - No insider trading incidents were reported during the period, and the company has not faced any significant legal penalties in the last 36 months[165]. Operational Efficiency - The company has implemented a lean production management system to maximize efficiency and minimize waste across various production processes[80]. - The company has developed 12 standardized solutions covering design optimization, intelligent scheduling, and quality traceability[148]. - The average delivery cycle for packaging products has been reduced by 20% due to the commercialization of AI services[148]. - The intelligent manufacturing system has led to a 240% year-on-year growth in revenue from technology and service outputs, consolidating the company's leading position in the smart packaging sector[149]. - The company is focused on building a diversified supply chain to reduce reliance on single suppliers and enhance risk management capabilities[144].