LECRON(SZ:300343)2025-04-22 12:10Financial Performance - The company's operating revenue for 2024 was ¥868,745,291.83, a decrease of 16.11% compared to ¥1,035,615,955.71 in 2023[22]. - Net profit attributable to shareholders for 2024 was ¥21,862,191.91, an increase of 71.94% from ¥12,715,177.07 in 2023[22]. - The net profit after deducting non-recurring gains and losses was -¥43,342,894.70, a decline of 77.81% compared to -¥24,375,378.63 in 2023[22]. - The net cash flow from operating activities was -¥42,041,178.89, a significant decrease of 118.26% from ¥230,286,730.65 in 2023[22]. - Basic earnings per share for 2024 were ¥0.0201, up 79.46% from ¥0.0112 in 2023[22]. - Total assets at the end of 2024 were ¥2,548,922,037.26, down 16.93% from ¥3,068,325,252.87 at the end of 2023[22]. - The company reported a net profit of -6,848,433.30 CNY for non-current asset disposal losses in 2024, compared to -1,952,234.34 CNY in 2023, indicating an increase in losses[29]. - Government subsidies recognized in the current period amounted to 2,672,207.91 CNY, down from 5,953,846.96 CNY in 2023, reflecting a decrease in government support[29]. - The fair value changes of financial assets resulted in a gain of 19,209,741.48 CNY in 2024, significantly higher than 8,228,405.37 CNY in 2023, showcasing improved financial performance in this area[29]. - The company’s total non-recurring gains and losses reached 65,205,086.61 CNY in 2024, compared to 37,090,555.70 CNY in 2023, indicating a substantial increase[29]. Revenue Breakdown - The company reported a quarterly revenue breakdown with Q1 at ¥143,116,516.75, Q2 at ¥249,707,089.43, Q3 at ¥267,827,112.02, and Q4 at ¥208,094,573.63[24]. - The revenue from the fluorine new materials segment was 619.75 million yuan, accounting for 71.34% of total revenue, while the polyurethane new materials segment generated 248.99 million yuan, representing 28.66%[72][75]. - The gross profit margin for the fluorine new materials segment was 12.13%, down from 19.75% in 2023, while the polyurethane new materials segment maintained a gross profit margin of 7.43%[75][76]. Market and Industry Insights - The fluorochemical industry in China is projected to maintain a global leading position, with fluorinated refrigerants accounting for 83% of global production capacity in 2024[32]. - The domestic production capacity of lithium battery-grade PVDF is expected to exceed 220,000 tons in 2024, with an industry output of 120,000 tons, despite price pressures[35]. - The polyurethane industry in China has become the largest production base globally, with a diverse application range, although it is currently experiencing low market conditions[36]. - The company has established a complete fluorochemical industry chain, including basic raw materials, fluorinated refrigerants, fluorinated polymers, and fine chemicals[38]. - The third-generation refrigerants are now under quota production constraints, leading to a more orderly market development[34]. Research and Development - The company is focusing on the research and development of high-performance fluorinated materials to support strategic emerging industries[31]. - The company has established a strong R&D capability, with 105 valid patents and multiple awards, including the 2024 China Fluorine Silicon Industry Science and Technology Innovation First Prize[69]. - The company has a strong research and development team with extensive industry experience, ensuring high-quality and stable product output[60]. - The company is focusing on technology innovation and sustainable development, with ongoing research in environmentally friendly refrigerants and high-value polyurethane products[68][70]. - The company is developing low-viscosity lithium battery-grade polymers to enhance electrolyte wettability, with a focus on high energy density and fast-charging battery demands[94]. Environmental Compliance - The company strictly adheres to various environmental protection laws and standards in its operations[190]. - The company has implemented a third-party waste disposal system for hazardous waste management[193]. - The company is actively monitoring and managing its environmental impact through compliance with national standards[193]. - The company has established one wastewater treatment facility that operates normally and meets discharge standards[197]. - The company has a comprehensive emergency response plan for environmental incidents, which has been filed with relevant departments[199]. Corporate Governance - The company has established a comprehensive governance structure, including a board of directors, supervisory board, and management team, ensuring clear responsibilities and checks and balances[142]. - The company’s board includes three independent directors, enhancing decision-making objectivity and governance quality[142]. - The company has implemented a "Quality and Return Improvement" action plan, although details on its disclosure status are not provided[140]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, and finances[148]. - The company has established a robust internal audit department to strengthen internal supervision and risk control[143]. Employee and Talent Management - The total number of employees at the end of the reporting period is 832, with 71 in the parent company and 761 in major subsidiaries[172]. - The professional composition includes 451 production personnel, 238 technical personnel, 27 sales personnel, 17 financial personnel, 51 administrative personnel, and 48 management personnel[173]. - The company emphasizes talent development and has implemented a comprehensive human resource management system[145]. - The company conducted training for 138 participants in collaboration with well-known training institutions and 68 participants in internal training[175]. Strategic Investments - The company is focusing on expanding its product chain and enhancing its production capacity to meet new market demands[115]. - The company plans to continue its strategic investments in new technologies and market expansion initiatives to drive future growth[115]. - The company is involved in a partnership with Zhongjun Tianbao Capital Management, contributing 49 million yuan to the Beijing Dingsheng Jiahe Investment Management Center[121]. - The company’s investment strategy focuses on equity or debt in the automotive information technology sector through Dingsheng Jiahe[121]. Challenges and Risks - The company is facing risks related to policy changes, market fluctuations, environmental compliance, and safety management in its operations[134][135][136][137]. - The company is currently facing market fluctuations that have significantly impacted the industry, leading to a temporary halt in the construction of certain projects[115].