Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 0.80 RMB per 10 shares (including tax) to all shareholders, based on a total share capital of 396,572,394 shares after deducting 3,527,606 shares held in the repurchase account[5]. - The company distributed a total cash dividend of RMB 19,895,937.95 (including tax) for the fiscal year 2023, as approved in the annual shareholders' meeting held on April 30, 2024[108]. - The company plans to distribute a cash dividend of RMB 0.80 per 10 shares, totaling RMB 31,725,791.52, which represents 91.66% of the net profit attributable to shareholders for 2024[144]. - The total amount for cash dividends and share repurchases in 2024 is RMB 136,723,708.54, including RMB 104,997,917.02 for share buybacks[144]. - The company has not changed its profit distribution policy during the reporting period, ensuring clarity and compliance with regulations[139]. Financial Performance - The company's operating revenue for 2024 was ¥1,023,759,023.35, representing a slight increase of 0.20% compared to ¥1,021,681,665.65 in 2023[18]. - Net profit attributable to shareholders for 2024 decreased by 26.43% to ¥149,165,552.13 from ¥202,750,057.77 in 2023[18]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥143,522,266.36, down 26.90% from ¥196,336,499.15 in 2023[18]. - Basic earnings per share for 2024 were ¥0.3748, a decrease of 26.03% from ¥0.5067 in 2023[18]. - Total assets at the end of 2024 were ¥1,996,863,826.20, a slight decrease of 0.25% from ¥2,001,804,287.77 at the end of 2023[18]. Operational Highlights - The company has established the largest full liquid air separation gas production line in Southwest China, with additional production bases in Mianyang, Jintang, and Deyang[32]. - The company has a comprehensive gas supply and service network, covering high-purity oxygen, nitrogen, argon, medical oxygen, food nitrogen, industrial oxygen, carbon dioxide, hydrogen, and various electronic gases[31]. - The company maintains a stable inventory of approximately 50,000 tons of liquid storage tanks in Sichuan to meet fluctuating customer demand[35]. - The company has implemented a complete quality control and management system, ensuring that all products meet national quality standards[32]. - The company has established long-term cooperative relationships with end customers, ensuring a stable supply of gas products tailored to their needs[34]. Market and Industry Insights - The industrial gas market in China is projected to reach ¥2,800 billion by 2026, with a compound annual growth rate of approximately 10% from 2019 to 2023[28]. - The company operates in a sector characterized by cyclical, regional, and seasonal trends, with a growing demand for industrial gases driven by emerging industries[28]. - The industrial gas market in China is heavily concentrated in the Yangtze River Delta, Pearl River Delta, and Bohai Rim regions, which account for over 66% of the country's steel production[29]. - The company has benefited from national policies supporting the industrial gas sector, enhancing its competitive position in the market[30]. Governance and Compliance - The company emphasizes enhancing information disclosure and has established multiple channels for investor communication, including online earnings calls and in-person research activities[110]. - The company has implemented a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management, ensuring clear responsibilities and checks and balances[110]. - The company maintains independence in assets, personnel, finance, institutions, and business operations, ensuring no conflicts with controlling shareholders[114]. - The company is committed to improving its corporate governance structure and internal control systems to enhance decision-making capabilities and protect shareholder rights[111]. - The company has established a comprehensive internal control system covering all operational management aspects, with no significant omissions[146]. Employee and Social Responsibility - The company emphasizes a learning culture, providing various training programs to enhance employee skills and management capabilities[138]. - The company has established health management protocols, conducting annual health checks for all employees and providing necessary protective gear to reduce occupational health risks[163]. - The company has contributed approximately 150,000 RMB in total value for educational support and assistance to students and elderly individuals in high-altitude areas during the "Spring Festival Warm Winter" event[167]. - The company actively participates in social public relations activities, submitting six joint proposals to support clean energy development and power channel construction in Aba Prefecture[169]. - The company adheres to the principle of "lawful compliance and integrity," fulfilling its social responsibilities and contributing to local economic development[170]. Future Plans and Investments - The company is actively pursuing mergers and acquisitions to enhance its market position and expand its product offerings[93]. - The company plans to expand its market presence by focusing on retail gas and pipeline gas, while deepening its special gas market[103]. - Future projects include multiple pipeline gas projects in Fuzhou, Meishan, and Jintang, enhancing operational capabilities[103]. - The company is exploring clean hydrogen production through various methods, including coal-to-hydrogen and electrolysis[104]. - The company plans to extend the completion date of the 1100TPD nitrogen recovery environmental protection project to December 31, 2026[94].
侨源股份(301286) - 2024 Q4 - 年度财报