COSMOS(SZ:300856)2025-04-22 12:10Dividend and Profit Distribution - The company plans to distribute a cash dividend of 3 RMB per 10 shares to all shareholders, based on a total of 339,776,037 shares[3]. - The company will increase capital reserves by converting 4 shares for every 10 shares held by shareholders[3]. - The 2024 annual profit distribution proposal includes a cash dividend of RMB 3.00 per 10 shares, totaling RMB 101,932,811.10, with a capital reserve increase of 4 shares for every 10 shares held, raising total share capital to 475,686,451 shares[161]. - The company’s cash dividend policy requires a minimum of 20% of profit distribution for companies in a growth phase with significant capital expenditure plans[160]. - The company’s cash dividend distribution is compliant with relevant laws, regulations, and its articles of association[159]. - The company’s board of directors actively engages with shareholders, especially minority shareholders, to gather opinions on profit distribution plans[156]. - The company’s independent directors have the right to express opinions if they believe the cash dividend plan may harm the company or minority shareholders[156]. - The company’s profit distribution policy can be adjusted based on significant changes in operational conditions or external environments, subject to compliance with regulatory requirements[156]. - The company’s cash dividend distribution plan for 2024 is expected to be completed within two months after the shareholders' meeting approval[161]. - The company has proposed a profit distribution plan for 2024 that aligns with its actual situation and complies with relevant laws and regulations, ensuring no impact on operations and benefiting all shareholders[162]. Financial Performance - The company reported a strong performance in the fiscal year 2024, with a projected revenue growth of 15% compared to the previous year[12]. - The company's operating revenue for 2024 was ¥2,275,984,587.88, a decrease of 5.16% compared to ¥2,399,920,217.58 in 2023[17]. - Net profit attributable to shareholders for 2024 was ¥562,473,383.41, down 23.33% from ¥733,587,263.70 in 2023[17]. - The basic earnings per share for 2024 was ¥1.6588, reflecting a decline of 23.43% from ¥2.1663 in 2023[17]. - The company's diluted earnings per share for 2024 was ¥1.5791, down 22.92% from ¥2.0487 in 2023[17]. - The weighted average return on equity decreased to 20.75% in 2024 from 32.15% in 2023, a drop of 11.40%[17]. - The company's comprehensive gross margin decreased to 44.40%, reflecting a decline due to reduced product prices and market demand[50]. - The company reported a total revenue of 7,500,000,000 for the reporting period, with a net profit of 2,000,000,000, reflecting a significant growth compared to the previous year[127]. Market and Product Development - User data indicates a significant increase in customer engagement, with a 25% rise in active users year-over-year[12]. - The company anticipates a robust outlook for 2025, forecasting an additional 20% revenue growth driven by new product launches and market expansion[12]. - New product development includes the introduction of advanced UV protection agents, which are expected to enhance market competitiveness[12]. - The company is focusing on expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[12]. - Strategic acquisitions are planned to bolster the company's product portfolio, with an estimated investment of $50 million allocated for this purpose[12]. - The company is currently developing several new products, including physical sunscreen agents and high-end moisturizing agents, to expand its product offerings in the personal care sector[69]. - The company has expanded its product offerings to include amino acid surfactants and other personal care ingredients, enhancing its competitive position in the market[48]. - The company is focusing on market expansion strategies in the personal care segment, targeting a 1% increase in market share[97]. Research and Development - The company aims to enhance its R&D capabilities, increasing the budget by 40% to support innovation in chemical formulations[12]. - The company is investing in research and development to innovate raw materials and formulations, particularly in enhancing UVA protection technology, which is a key future direction for the industry[31]. - Research and development expenses for 2024 totaled ¥115,952,558.44, representing 5.09% of operating revenue, up from 4.72% in 2023[69]. - The number of R&D personnel increased by 1.94% to 316, with a notable rise in the number of master's degree holders by 48.84%[69]. - The company holds 203 authorized patents, including 59 invention patents, showcasing its strong R&D capabilities and multi-layered technological reserves[44]. Environmental and Sustainability Initiatives - The company is committed to environmental sustainability by adopting advanced pollution control technologies and exploring green chemical processes to reduce environmental impact[33]. - The company has implemented environmental impact assessments for all construction projects as per regulatory requirements[175]. - The company has been actively reducing carbon emissions through advanced equipment and technology upgrades since 2017, with annual disclosures to CDP (Carbon Disclosure Project) regarding greenhouse gas management and performance[183]. - The company has not experienced any environmental pollution incidents or complaints during the reporting period[177]. - The company has developed emergency response plans and conducted various emergency drills to enhance preparedness for environmental incidents[180]. Governance and Compliance - The company has a structured governance framework, ensuring compliance with legal standards and protecting shareholder rights[118]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a balanced governance structure[119]. - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholders and related parties[121]. - The company has established necessary internal supervision mechanisms to ensure compliance and asset security[168]. - The company’s governance structure complies with legal and regulatory requirements without significant discrepancies[120]. Risk Management - The management discussed potential risks and countermeasures in the section on future development outlook[3]. - The company acknowledges risks from industry and market fluctuations, which could impact performance due to changes in macroeconomic conditions and downstream market demand[111]. - The company is actively monitoring raw material price fluctuations and has implemented measures to mitigate their impact on profitability[111]. - High customer concentration poses a risk, as major clients like DSM-Firmenich and L'Oréal account for a significant portion of sales; any changes in their purchasing behavior could impact revenue[113]. - International market risks are present, particularly due to trade tensions, such as the U.S. imposing tariffs on Chinese products, which could affect export performance[113]. Employee and Management Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 12 million[139]. - The highest remuneration was received by the Chairman, Zhou Xuming, totaling CNY 1.38 million[140]. - The company’s management compensation system includes a basic salary and an annual performance bonus, with the latter based on annual performance assessments[167]. - The company has implemented a long-term incentive mechanism through the 2023 restricted stock incentive plan, optimizing the performance evaluation system for senior management[167]. - The company has established a salary system that includes annual salary and monthly salary structures, with performance-based incentives for different departments[150]. Strategic Partnerships and Acquisitions - The company is actively pursuing mergers and acquisitions to enhance its competitive edge in the market[132]. - The company has established strategic partnerships with key industry players to leverage synergies and drive innovation[132]. - The company is committed to enhancing its market presence through strategic partnerships and acquisitions in the chemical sector[95]. Financial Management and Fund Utilization - The company plans to actively explore the market to enhance profitability and increase sales revenue[192]. - The company aims to strengthen internal management to control costs and improve operational efficiency[192]. - The company will adopt various measures to ensure effective use of raised funds and mitigate risks of dilution of immediate returns[192]. - The company has established a three-year shareholder dividend return plan following its IPO on the ChiNext board, aiming to enhance shareholder returns based on operational performance and development plans[193]. - The company will ensure timely and full compensation to investors for any losses incurred due to misleading statements in the IPO documents[191].