SUNHERE(SZ:300452)2025-04-22 08:40Financial Performance - The company's operating revenue for 2024 reached ¥882,573,320.58, representing a 5.16% increase compared to ¥839,259,534.36 in 2023[16]. - Net profit attributable to shareholders decreased by 26.07% to ¥119,424,741.26 in 2024 from ¥161,535,015.82 in 2023[16]. - The basic earnings per share fell by 26.09% to ¥0.51 in 2024, down from ¥0.69 in 2023[16]. - The total assets at the end of 2024 were ¥1,559,730,388.14, a 1.10% increase from ¥1,542,710,563.50 at the end of 2023[16]. - The company reported a net cash flow from operating activities of ¥118,332,669.23 in 2024, a decrease of 10.56% from ¥132,298,332.70 in 2023[16]. - The weighted average return on equity decreased to 13.67% in 2024 from 20.53% in 2023, a decline of 6.86%[16]. - The company has seen a decline in net profit after deducting non-recurring gains and losses, with a decrease of 26.45% to ¥101,157,550.11 in 2024 from ¥137,540,602.85 in 2023[16]. - The company reported a negative net profit in the fourth quarter of 2024, amounting to -¥3,001,117.77, indicating challenges in maintaining profitability[18]. Dividend Policy - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares (including tax) to all shareholders based on the total share capital as of the dividend record date, excluding 1.8255 million shares in the repurchase account[4]. - The company has not issued any bonus shares during the profit distribution plan, indicating a focus on cash dividends instead[4]. - The 2023 profit distribution plan was approved, with a cash dividend of 2.5 RMB per 10 shares, totaling 58.1537 million RMB distributed[147]. - For the 2024 profit distribution plan, a cash dividend of 3.0 RMB per 10 shares is proposed, with a total cash dividend amounting to approximately 69.79 million RMB[150]. Industry Position and Market Trends - The company is positioned in the pharmaceutical manufacturing industry, focusing on the pharmaceutical excipients sector, which is experiencing significant transformation and development[25]. - The government has increased support for the biopharmaceutical industry, emphasizing the development of innovative drugs and medical devices, which is expected to enhance market opportunities[26]. - The domestic pharmaceutical manufacturing industry achieved a revenue of CNY 25,298.5 billion in 2024, remaining flat year-on-year, which is below the overall industrial growth rate of +2.1%[27]. - The pharmaceutical manufacturing industry saw a profit of CNY 3,420.7 billion in 2024, representing a year-on-year decline of 1.1%[27]. - The market for pharmaceutical excipients is expected to grow significantly, driven by policies encouraging the development of high-end excipients and new adjuvants for vaccines[27]. Product Development and Innovation - The company has developed 50 products that have obtained drug excipient registration numbers from the CDE, indicating a strong product pipeline[30]. - The company focuses on optimizing product quality and expanding its product line, with a commitment to innovation based on market demand[30]. - The company has accelerated the research and industrialization of new fields such as injectable excipients and premix excipients[36]. - The company aims to complete 3-4 new product CDE registrations and increase R&D investment to meet market demand and improve product performance[96]. Research and Development - The company has invested in a new pharmaceutical excipient production base to expand capacity and strengthen its leading position in the industry[43]. - The R&D budget has been increased by 25% to support the development of innovative technologies and products[130]. - The number of R&D personnel increased by 8.13% to 173 in 2024, compared to 160 in 2023[61]. - Research and development expenses for 2024 were ¥40,952,648.76, a decrease of 2.38% compared to ¥41,952,772.69 in 2023[60]. Corporate Governance - The company has a complete and effective internal control system that spans all levels and aspects of its operations, continuously improving governance standards[112]. - The board of directors consists of 7 members, including 3 independent directors, which exceeds one-third of the total number of directors, complying with legal and regulatory requirements[109]. - The company maintains complete independence in business, personnel, assets, institutions, and finance from its controlling shareholder, ensuring no reliance on or unfair transactions with the controlling shareholder[113]. - The company has established a transparent investor relations management system, ensuring timely and accurate information disclosure to all shareholders[111]. Environmental Responsibility - The company holds valid pollution discharge permits from the Huainan Ecological Environment Bureau, expiring on May 12, 2028, and May 28, 2028[158]. - The company reported a total hazardous waste discharge of 2.58 tons, with no exceedances of discharge standards[159]. - The company has implemented strict environmental protection measures in accordance with relevant regulations and standards[158]. - The company has invested over 6 million yuan in environmental protection facilities and operations during the reporting period[164]. Risk Management - The company has outlined potential risks in its future development outlook, urging investors to pay attention to these risks[4]. - The company faces risks from fluctuations in raw material prices, particularly for key ingredients like wood pulp and refined cotton, which could impact profit margins if costs cannot be passed on to customers[97]. - The company emphasizes quality control throughout the production process to mitigate risks associated with operational errors and raw material quality[99]. Market Strategy - The marketing strategy will focus on "innovation industry, create market," expanding overseas markets and enhancing product recognition and market influence[93]. - The company is actively pursuing opportunities in the health food and plant capsule markets, as well as innovations in traditional Chinese medicine[93]. - The company plans to enhance its market presence and enhance product offerings through new technology development and strategic acquisitions[122]. Employee Management - The total number of employees at the end of the reporting period is 1,065, with 855 from the parent company and 209 from major subsidiaries[143]. - Annual training plans are developed by each department based on needs assessment and past training feedback, approved by the human resources department[146]. - The company maintains a salary policy that aligns with job value and differentiates based on technical and professional capabilities[145]. Shareholder Engagement - The annual shareholders' meeting had a participation rate of 43.24% on May 16, 2024[117]. - The first interim shareholders' meeting in 2024 had a participation rate of 31.56% on August 1, 2024[117]. - The second interim shareholders' meeting in 2024 had a participation rate of 28.16% on August 19, 2024[118]. - The third interim shareholders' meeting in 2024 had a participation rate of 28.85% on November 8, 2024[118].