苏利股份(603585) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥2,308,972,709.13, an increase of 17.91% compared to ¥1,958,208,461.85 in 2023[23] - The net profit attributable to shareholders of the listed company was -¥10,846,972.54, a decrease of 154.03% from a profit of ¥20,076,565.96 in the previous year[23] - The net cash flow from operating activities was -¥41,724,481.52, down 119.28% from ¥216,380,552.74 in 2023[23] - The total assets at the end of 2024 amounted to ¥5,741,871,451.16, reflecting a 0.94% increase from ¥5,688,167,908.14 in 2023[24] - The net assets attributable to shareholders of the listed company decreased by 0.63% to ¥2,465,062,828.42 from ¥2,480,594,818.74 in 2023[24] - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was -¥12,733,899.63 compared to ¥21,696,405.00 in the previous year, a decline of 158.69%[23] - The basic earnings per share for 2024 was -0.06 RMB, a decrease of 154.55% compared to 2023[25] - The weighted average return on equity decreased to -0.44%, down 1.23 percentage points from the previous year[25] Profit Distribution and Dividends - The company plans not to distribute profits or issue cash dividends for the 2024 fiscal year due to a lack of profitability[6] - The board of directors has approved the profit distribution plan, which includes no cash dividends or stock bonuses for 2024[6] - The cumulative cash dividend over the last three fiscal years amounted to 108,001,218.60 RMB, with a cash dividend payout ratio of 99.83%[176] - The company approved a cash dividend of 0.5 RMB per 10 shares, totaling 9,000,103.50 RMB for the year 2023[171] - The company has maintained a consistent cash dividend policy, with no adjustments made during the reporting period[172] Market and Sales Performance - The sales volume of pesticides and pesticide intermediates reached 41,600 tons, an increase of 58.72% compared to 2023[37] - The company achieved a consolidated revenue of 2.31 billion RMB, representing a year-on-year growth of 17.91%[53] - The revenue from the chemical raw materials and products industry reached CNY 2,261,679,676, with a year-on-year increase of 20.03%[59] - The revenue from pesticides and pesticide intermediates was CNY 1,291,213,800, with a year-on-year decrease of 6.47%[59] - Domestic sales revenue was CNY 1,359,660,780, reflecting a year-on-year increase of 15.96%[60] Cost and Expenses - Operating costs increased by 20.78% to 2.03 billion RMB, driven by higher sales volumes[55] - Research and development expenses rose by 7.24% to 112.63 million RMB, reflecting the company's commitment to innovation[55] - The company experienced a significant increase in depreciation and amortization costs due to new production lines, impacting overall profitability[25] - The total cost for the period reached 1,988,300,642.21, an increase of 22.87% compared to the previous year[66] - Raw material costs accounted for 65.33% of total costs, with a year-on-year increase of 11.30%[66] Strategic Initiatives and Innovations - The company is focusing on technological innovation and market expansion to navigate the challenging agricultural chemical industry landscape[36] - The company is actively advancing new product and project developments to enhance its core competitiveness[37] - The company has implemented cost-reduction measures and improved supply chain efficiency through deep collaboration with core raw material suppliers, ensuring raw material security and optimizing product costs[38] - The company is committed to enhancing safety and environmental responsibility, implementing clean technology and carbon footprint tracking for its main products[39] - The company is focusing on the development of new flame retardant products to meet the increasing demand from industries such as construction and electronics, driven by safety standards[45] Environmental Compliance and Sustainability - The company is committed to environmental protection and has established relevant mechanisms to ensure compliance with environmental regulations[187] - The subsidiary Su Li Chemical is classified as a key pollutant discharge unit and holds a valid discharge permit until May 2029[188] - The company has implemented a strict internal control management system in accordance with regulatory requirements, enhancing decision-making efficiency[183] - The company has continuously improved its long-term incentive policies to enhance the diligence and responsibility of senior management[182] - The company is actively engaged in environmental management practices to minimize its ecological footprint[196] Governance and Management - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[138] - The company has held five shareholder meetings during the reporting period, ensuring transparency and adherence to governance standards[138] - The supervisory board is composed of 3 members, including one employee representative, maintaining compliance with regulations[139] - The company has established specialized committees, including the Audit Committee and the Strategic Committee[154] - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[143] Risks and Challenges - The company is facing risks related to safety and environmental regulations, which may increase operational costs and impact performance if compliance is not met[133] - Fluctuations in the prices of key products, such as active ingredients for pesticides, are a concern, with current prices being low due to market imbalances and inventory reduction cycles[134] - The company is exposed to exchange rate risks due to a significant portion of its raw materials being sourced internationally and sales being conducted in USD, which can affect profitability[134] - Uncertainty in US-China trade relations may lead to increased tariffs on Chinese goods, potentially impacting sales and market share in the US[136] - The company is actively diversifying its market presence to reduce reliance on the US market amid tariff risks[136]