万年青(000789) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 5,956,579,928.44, a decrease of 27.27% compared to CNY 8,190,156,792.24 in 2023[19]. - The net profit attributable to shareholders for 2024 was CNY 13,168,260.30, down 94.24% from CNY 228,590,313.38 in 2023[19]. - The basic earnings per share for 2024 was CNY 0.0165, a decline of 94.24% from CNY 0.2867 in 2023[19]. - Total assets at the end of 2024 were CNY 16,532,535,480.70, a decrease of 2.75% from CNY 17,000,406,894.99 at the end of 2023[19]. - The net assets attributable to shareholders at the end of 2024 were CNY 6,893,856,333.62, down 1.22% from CNY 6,978,913,582.45 at the end of 2023[19]. - The company's total revenue for 2024 was approximately ¥5.96 billion, a decrease of 27.27% compared to ¥8.19 billion in 2023[54]. - Cement revenue accounted for 64.99% of total revenue, amounting to approximately ¥3.87 billion, down 26.24% from ¥5.25 billion in the previous year[54]. - The sales volume of cement decreased by 20.45% to 1,699.91 million tons from 2,136.89 million tons in 2023[58]. Cash Flow and Investments - The cash flow from operating activities for 2024 increased by 4.55% to CNY 798,035,782.86, compared to CNY 763,276,382.63 in 2023[19]. - Operating cash inflow totaled ¥6,866,490,576.06, a decrease of 23.39% compared to ¥8,963,478,216.66 in 2023, while operating cash outflow decreased by 26.00% to ¥6,068,454,793.20[71]. - Investment activities resulted in a net cash flow of -¥1,211,889,565.07, a significant decrease of 190.79% due to the purchase of ¥1.05 billion in time deposits[73]. - Financing activities generated a net cash flow of -¥212,133,202.13, an improvement of 74.78% compared to the previous year, primarily due to a significant reduction in cash used for debt repayment and dividend distribution[74]. Market and Industry Trends - The cement industry faced a 9.5% decline in national production, totaling 1.825 billion tons, with Jiangxi province experiencing an 18.57% drop[30]. - The overall profit for the cement industry in 2024 is projected to be around ¥160 billion, a decrease of approximately 50% year-on-year[30]. - The real estate development investment decreased by 10.6% in 2024, with new commercial housing sales area dropping by 12.9%, putting further pressure on cement sales[48]. - The company anticipates that external economic challenges will continue, particularly in the real estate sector, which may impact cement consumption[89]. Operational Efficiency and Sustainability - The company is actively pursuing structural reforms and green development in response to national policies aimed at carbon neutrality[29]. - The company aims to control national cement clinker capacity at around 1.8 billion tons by the end of 2025, with 30% of energy-efficient production above benchmark levels in the cement and ceramics industries[35]. - The company utilized 18,000 tons of alternative fuels, saving approximately 12,000 tons of standard coal, and generated 18.51 million kWh of electricity from solar power, saving about 15,400 tons of standard coal[36][41]. - The company is focusing on technological upgrades and equipment renewal to achieve cost-effective energy savings and emissions reductions[37]. - The company has implemented photovoltaic power generation projects, achieving self-sufficiency in electricity for some production units[157]. Governance and Compliance - The company has established a complete independent financial accounting system in accordance with the Accounting Standards for Enterprises[106]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements and effective governance[102]. - The company has implemented strict information disclosure management systems to ensure timely and accurate information dissemination[104]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[158]. Employee and Community Engagement - The total number of employees at the end of the reporting period is 4,498, with 899 in the parent company and 3,599 in major subsidiaries[131]. - The company has provided 2.1877 million yuan in aid and donated materials worth 3.3272 million yuan to support poverty alleviation and rural revitalization efforts[167]. - The company invested 1.2 million yuan and 800 tons of cement to build a storage center for脐橙, which is expected to increase the average income of farmers by 3,000 yuan per household[170]. Environmental Responsibility - The company has obtained pollution discharge permits for its key polluting enterprises, valid until 2025[149]. - The company has maintained its internal control system without significant defects for over three years[145]. - The company has installed dust removal facilities, flue gas denitrification systems, and automatic monitoring systems for pollution sources, achieving an operational integrity rate of over 99.8%[152]. - All types of pollutants emitted by the company are within the compliance standards, including nitrogen oxides at 1,027.9 tons against a limit of 1,240 tons, and sulfur dioxide at 135.97 tons against a limit of 620 tons[151].