SuKen Agriculture(SH:601952)2025-04-22 11:20Financial Performance - The company's operating revenue for 2024 was CNY 10,917,381,340.32, a decrease of 10.28% compared to CNY 12,168,058,597.71 in 2023[26]. - The net profit attributable to shareholders for 2024 was CNY 730,052,456.74, down 10.56% from CNY 816,204,813.47 in 2023[26]. - The net cash flow from operating activities decreased by 36.41% to CNY 1,467,817,281.01 in 2024 from CNY 2,308,282,706.89 in 2023[26]. - The basic earnings per share for 2024 was CNY 0.53, a decline of 10.17% from CNY 0.59 in 2023[27]. - The weighted average return on equity decreased by 1.92 percentage points to 10.85% in 2024 from 12.77% in 2023[27]. - The total assets at the end of 2024 were CNY 14,415,326,764.59, a slight decrease of 0.08% compared to CNY 14,426,435,446.94 at the end of 2023[26]. - The company achieved consolidated revenue of 10.917 billion yuan and a net profit attributable to shareholders of 730 million yuan during the reporting period[40]. - The company reported non-operating income of CNY 35,349,085.94 from government subsidies in 2024, down from CNY 91,267,298.49 in 2023[31]. - The company’s net profit after deducting non-recurring gains and losses for 2024 was CNY 661,074,273.92, a decrease of 6.18% from CNY 704,614,676.03 in 2023[26]. - The company reported a total of 9.83 billion RMB in fair value changes for financial assets, with a total ending balance of 10.12 billion RMB[106]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 2.1 RMB per 10 shares, totaling 289,380,000 RMB, which represents 50.96% of the net profit attributable to shareholders for the year[8]. - The total cash dividends for 2024, including the interim distribution, will amount to 372,060,000 RMB[8]. - The cumulative cash dividends over the last three fiscal years amounted to ¥1,198,860,000[169]. - The average annual net profit over the last three fiscal years was ¥790,781,255.61, resulting in a cash dividend payout ratio of 151.60%[169]. - The undistributed profits at the end of the most recent fiscal year for the parent company were ¥1,534,117,190.30[169]. Agricultural Production and Services - Total grain and oil crop production reached 2.677 billion jin, with an annual yield of 2,426 jin per mu for rice and wheat in the main production area, meeting the stable production target[40]. - The company sold approximately 500,000 tons of various agricultural seeds during the reporting period, while rice sales reached 319,000 tons[41]. - The company expanded its integrated agricultural service centers to cover over 1.3 million mu, with total grain repurchase amounting to 876 million jin[43]. - The company’s socialized service revenue exceeded 2 billion yuan during the reporting period[41]. - The national grain planting area in 2024 is projected to be 178.979 million mu, a year-on-year increase of 0.3%[47]. - The company operates 136.4 million mu of self-managed farmland, with 40.9 million mu under land transfer arrangements, showing steady growth since summer 2022[62]. Research and Development - Research and development expenses for 2024 are projected to reach 106 million yuan, with 99 new research projects initiated[44]. - The company obtained a total of 3 invention patents, 49 utility model patents, and 4 design patents during the reporting period[79]. - The company has cultivated and approved a total of 89 major crop varieties, obtaining 33 plant variety rights certificates[79]. - The company has established several provincial-level research and development platforms, enhancing its technological capabilities[78]. - The number of R&D personnel is 295, representing 3.58% of the total workforce[98]. Risk Factors - The company has outlined potential risks that may adversely affect its future development strategies and operational goals[10]. - The company faces risks from natural disasters that could significantly impact crop yield and quality, affecting overall performance[116]. - Changes in government subsidy policies, particularly agricultural support and minimum grain purchase prices, could significantly affect the company's profitability and revenue stability[120]. - The increase in accounts receivable and prepaid accounts poses a risk of uncollectibility, which could affect the company's operational efficiency[123]. Corporate Governance - The company has a robust internal control system in place, enhancing the effectiveness of its operations and protecting investor interests[130]. - The board of directors includes independent directors who actively participate in decision-making and oversight, enhancing corporate governance[128]. - The company has implemented a transparent performance evaluation and incentive mechanism for its management team, ensuring accountability and effective governance[129]. - The company has established a complete and independent asset ownership structure, ensuring no violations by controlling shareholders regarding asset occupation or misappropriation[131]. - The company has a comprehensive governance structure that adheres to legal and regulatory requirements, ensuring operational independence[132]. Environmental and Social Responsibility - The company invested ¥4,167,100 in environmental protection during the reporting period[175]. - The company strictly adhered to national and local pollutant discharge standards, with all pollutant discharge concentrations meeting the required standards[176]. - The company actively promotes green development practices, including the reduction of fertilizer usage and the implementation of soil restoration projects[185]. - The company has implemented carbon reduction measures, including improving production efficiency and optimizing crop management, which has led to a reduction in greenhouse gas emissions[188]. Strategic Planning and Future Goals - The company aims to achieve a consolidated revenue of 12 billion RMB and a total profit of 850 million RMB for the year 2025[111]. - The company is focusing on expanding its agricultural services and enhancing brand influence through integrated service platforms[112]. - The company is committed to advancing capital operations, including the development of the wheat processing sector and oil sector projects[113]. - The company is actively responding to the "Belt and Road" initiative to explore new international market opportunities[110].