OXGF(SZ:300082)2025-04-21 14:35Financial Performance - The net profit attributable to shareholders for the year 2024 was negative, indicating a need for measures to improve profitability[4]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The financial report for the year 2024 is guaranteed to be true, accurate, and complete by the company's management[4]. - The company has not disclosed specific financial figures in the provided content, indicating a focus on qualitative aspects in the report[4]. - The company's operating revenue for 2024 was ¥4,286,808,848.28, an increase of 12.43% compared to ¥3,812,704,709.98 in 2023[21]. - The net profit attributable to shareholders for 2024 was -¥159,240,307.72, improving by 48.45% from -¥308,930,959.01 in 2023[21]. - The cash flow from operating activities for 2024 was -¥39,662,431.95, a significant decline of 145.72% compared to ¥86,746,377.43 in 2023[21]. - The total assets at the end of 2024 were ¥5,726,716,255.37, reflecting a 3.82% increase from ¥5,516,259,023.53 at the end of 2023[21]. - The company reported a basic earnings per share of -¥0.23 for 2024, an improvement of 48.89% from -¥0.45 in 2023[21]. Industry Challenges - The construction chemical industry is facing challenges, with a 10.6% decline in real estate development investment in 2024, impacting demand for the company's products[33]. - The total profit for the chemical sector in 2024 is projected to be ¥454.44 billion, a decrease of 6.4% year-on-year, indicating a tough industry environment[31]. - In 2024, the global crude oil market is expected to experience a decline of 3.1%, with volatility remaining at 25.55%[34]. - The industrial producer purchase prices in China are projected to decrease by 2.2% year-on-year in 2024, reflecting a general decline in commodity prices[34]. Strategic Focus and Future Plans - The company aims to focus on high-end technology industrialization in green low-carbon fine chemicals, aligning with national economic growth targets of 5.0% for 2024[30]. - The company plans to implement a strategy of technology-driven growth and talent enhancement to adapt to the challenging market conditions[31]. - The company plans to implement a five-point development strategy for 2025, focusing on industrial upgrades and expanding the production and sales scale of ethylene sulfite[51]. - The company is focusing on developing new energy battery materials and expanding its green low-carbon product lines to foster new growth points[63]. Risk Management - The company faces various risks including safety and environmental risks, procurement risks, industry capacity risks, accounts receivable risks, and exchange rate risks[4]. - Future plans and forecasts are subject to risks and do not constitute a commitment to investors[4]. - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments[4]. - The company has established a risk control system to improve risk management capabilities and ensure sustainable business development[177]. Research and Development - The company has established partnerships with universities for research and development, enhancing its product quality and innovation capabilities[55]. - The company reported a significant increase of 251.46% in other business revenue, reaching ¥15,161,282.43, compared to ¥4,313,833.62 in the previous year[68]. - The company’s total R&D investment in 2024 was approximately ¥138.096 million, representing 3.22% of total revenue, down from 3.98% in 2023[81]. - The company has introduced new performance incentive mechanisms to boost employee motivation and creativity, including detailed compensation assessment guidelines[65]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[184]. - The company adheres to multiple environmental protection laws and standards, including the Environmental Protection Law and the Water Pollution Prevention Law[184]. - The company has implemented measures to comply with the regulations regarding hazardous waste management and emissions[184]. - The company is focusing on enhancing environmental management through the implementation of new pollution control measures[186]. Governance and Management - The company has established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and coordinated operations[123]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[124]. - The company maintains independent operations from its controlling shareholder, with no interference in business decisions or management activities[124]. - The company has a complete and independent asset structure, including land, buildings, machinery, trademarks, patents, and proprietary technologies[128]. Employee and Talent Management - The total number of employees at the end of the reporting period is 1,327, with 169 from the parent company and 1,158 from major subsidiaries[169]. - The company aims to enhance its compensation system in 2024, ensuring competitiveness by conducting in-depth internal and external salary surveys[170]. - The compensation structure will be optimized to link employee income closely with individual, team, and company performance[170]. - The company has implemented a talent strategy focusing on optimizing management teams and nurturing young talent, which is expected to enhance operational efficiency[65]. Market Expansion and Product Development - The company is actively pursuing new product development and technological advancements to maintain its competitive edge in the market[138]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge and expand its market share[144][145]. - The company is considering strategic acquisitions to bolster its product portfolio, with a budget of $30 million allocated for potential deals[152]. - The company is investing $10 million in R&D for new technologies aimed at enhancing product efficiency[152].