JAHEN(SZ:300955)2025-04-22 10:25Financial Performance - The company achieved operating revenue of RMB 922.99 million, a decrease of 9.13% compared to the same period last year[3]. - The net profit attributable to shareholders was RMB -23.70 million, a decline of 159.00% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB -26.84 million, down 169.76% from the previous year[3]. - The cash flow from operating activities decreased by 77.78% to ¥38,427,558.19 in 2024, down from ¥172,927,958.95 in 2023[23]. - The basic earnings per share for 2024 was -¥0.24, a drop of 160.00% compared to ¥0.40 in 2023[23]. - The company reported a revenue of CNY 922.99 million in 2024, a decrease of 9.13% year-on-year, and a net profit attributable to shareholders of -CNY 23.70 million, down 159.00% from the previous year[60]. - The net cash flow from operating activities dropped by 77.78% to ¥38,427,558.19, primarily due to reduced revenue and increased use of bills for customer payments[85]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.8 per 10 shares (including tax) based on the current share capital of 100,800,000 shares[6]. - The company plans to distribute cash dividends of RMB 3.5 per 10 shares, totaling RMB 35,280,000, to be distributed by July 5, 2024[161]. - The total cash dividend amount represents 100% of the profit distribution total, indicating a strong commitment to returning value to shareholders[162]. Risk Management - The company continues to face risks such as market demand fluctuations, high customer concentration, and raw material price volatility[6]. - The report includes a detailed analysis of potential risks and countermeasures in the future development outlook section[6]. - The company’s top five clients account for 67.65% of its revenue, indicating a high customer concentration risk[119]. - The company is facing risks from rising raw material prices, particularly for PE and PP, which are influenced by international crude oil prices, potentially affecting profit margins[121]. - Management risks are present due to rapid asset and capacity expansion, necessitating improvements in management systems to maintain competitiveness[124]. Research and Development - The company has established a comprehensive R&D system in the cosmetics and household care products sector, focusing on skin barrier repair, scalp care, and high-efficacy formulations, accumulating rich product formulas and manufacturing processes[42]. - The company invested CNY 34.28 million in R&D during the reporting period, with a focus on developing new products and improving existing technologies[63]. - The company has ongoing projects focused on developing innovative raw materials and cosmetic technologies, which are expected to enhance product competitiveness[82]. - The company aims to develop multiple new products utilizing natural plant extracts, which is anticipated to strengthen its market position[82]. - The company has completed research on new amino acid-based cleansing products, which are expected to improve its product offerings in the cleansing category[82]. Market Trends - The cosmetics retail sales in China for 2024 were ¥4,356.5 billion, showing a decline of 1.1%[33]. - The market for customized and high-end plastic packaging is growing, driven by brand demands for personalization and functionality[35]. - The cosmetics market is projected to continue growing, driven by rising consumer income and product innovation[107]. Corporate Governance - The company has established an independent financial department with a complete accounting system, ensuring no interference from controlling shareholders[138]. - The company has a fully independent business system, with no reliance on controlling shareholders for core technologies or patents[136]. - The company has established a robust internal audit system to ensure the authenticity and completeness of financial information[137]. - The company has conducted 1 annual and 3 temporary shareholder meetings, ensuring compliance with governance standards and facilitating shareholder participation[131]. Environmental Responsibility - The company has received an administrative penalty of RMB 200,000 for violating air pollution prevention regulations, but there was no impact on operations[172]. - The company has implemented measures to reduce carbon emissions, including promoting photovoltaic power generation and adhering to energy-saving laws[173]. - The company actively engages in environmental protection and sustainable development, aligning with national goals for a resource-saving society[173]. Employee Management - The total number of employees at the end of the reporting period is 1,847, with 451 in the parent company and 1,396 in major subsidiaries[158]. - The company has established a comprehensive training program to enhance employee skills and overall quality, contributing to sustainable development[160]. - Employee compensation consists of basic salary, allowances, performance pay, and overtime pay, with a tiered management system based on various factors[159]. Future Outlook - The company will strengthen its R&D management system to accelerate new product development and ensure quick market response[112]. - The company is focused on optimizing its financial structure and enhancing its risk resistance capabilities[192]. - The company plans to enhance its digital management capabilities through systems like PLM, MES, WMS, and QMS[111].