Hoshine Silicon(SH:603260)2025-04-23 10:55Financial Performance - The company's operating revenue for 2024 was CNY 26.69 billion, a slight increase of 0.41% compared to CNY 26.58 billion in 2023[24]. - The net profit attributable to shareholders decreased by 33.64% to CNY 1.74 billion in 2024 from CNY 2.62 billion in 2023[24]. - The basic earnings per share for 2024 was CNY 1.48, down 33.93% from CNY 2.24 in 2023[25]. - The weighted average return on equity decreased by 3.12 percentage points to 5.35% in 2024 from 8.47% in 2023[25]. - The net cash flow from operating activities for 2024 was CNY 4.52 billion, a significant recovery from a negative cash flow of CNY 790 million in 2023[24]. - The total assets increased by 8.91% to CNY 90.77 billion at the end of 2024, compared to CNY 83.34 billion at the end of 2023[24]. - The net profit after deducting non-recurring gains and losses was CNY 1.54 billion in 2024, down 29.58% from CNY 2.19 billion in 2023[24]. - The company received government subsidies amounting to CNY 79.43 million in 2024, compared to CNY 300.12 million in 2023[34]. Dividend Distribution - The company plans to distribute a cash dividend of 4.50 RMB per 10 shares, totaling approximately 527.59 million RMB based on a total share count of 1,172,432,523 shares after accounting for repurchased shares[6]. - The proposed cash dividend for 2024 is CNY 4.50 per 10 shares, amounting to CNY 527.59 million, with a base share count of 1,172,432,523 after accounting for repurchased shares[179]. - The cash dividend for 2023 represents 30.31% of the net profit attributable to ordinary shareholders, which was CNY 1,740.48 million[182]. - The cumulative cash dividend over the last three accounting years is CNY 2,366.25 million, with an average cash dividend payout ratio of 74.63%[184][185]. Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The board of directors has confirmed that all members attended the board meeting, ensuring proper governance and decision-making processes[4]. - The company has not reported any violations of decision-making procedures regarding external guarantees, reflecting adherence to regulatory standards[8]. - The company has established a performance evaluation mechanism for senior management, which is implemented by the Compensation and Assessment Committee[186]. - The company has implemented a robust internal control system to enhance operational management and risk prevention capabilities[146]. Risk Management - The company has outlined potential risks in its future development, which investors should be aware of[9]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements, cautioning investors against potential uncertainties[7]. - The company faces risks from macroeconomic fluctuations that could impact demand for its products in various industries, including photovoltaic and automotive sectors[133]. - Increased market competition in the industrial silicon and organic silicon sectors may lead to significant price fluctuations, affecting the company's profitability[134]. - The company is exposed to raw material price volatility, which can impact the sales prices of its products based on market supply and demand dynamics[136]. Production and Capacity - The production of industrial silicon reached 4.72 million tons in 2024, representing a year-on-year increase of 27.6%[49]. - The export volume of industrial silicon was 725,000 tons, an increase of 28.5% year-on-year[49]. - Domestic consumption of industrial silicon increased by 22.1% year-on-year, with demand from polysilicon and organic silicon sectors growing approximately 25%[49]. - The company has an industrial silicon capacity of 1.22 million tons per year and an organic silicon capacity of 1.73 million tons per year as of the end of 2024[52]. - The design capacity for industrial silicon products is 122,000 tons, with a capacity utilization rate of 153.39%[107]. Research and Development - The company holds 675 authorized patents, including 87 invention patents, and has participated in the formulation or revision of 60 industry standards[58]. - The company has established multiple R&D platforms, including a provincial high-tech enterprise R&D center and a national postdoctoral workstation[57]. - Total R&D investment reached ¥575,137,889.87, accounting for 2.15% of operating revenue[79]. - The number of R&D personnel is 2,937, representing 13.56% of the total workforce[79]. - The company plans to invest in R&D for downstream processing products and new fields such as silicon carbide[127]. Environmental Compliance - Sulfur dioxide emissions were reported at 11.149 mg/m³, while nitrogen oxides were at 35.793 mg/m³, indicating compliance with ultra-low emission standards[195]. - The company achieved a total nitrogen oxide emission of 661.815 mg, with a limit of 826 mg, reflecting effective emission control measures[195]. - The company is actively pursuing ultra-low emission upgrades in its coal-fired power plants, aligning with national environmental policies[195]. - Future projections indicate a continued focus on reducing emissions and enhancing energy efficiency across operations[195]. - The company plans to enhance its emission control technologies to further reduce pollutants in the upcoming fiscal year[198]. Strategic Initiatives - The company plans to focus on expanding its market presence and enhancing product development in the upcoming fiscal year[27]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the tech sector[157]. - The management emphasized a focus on sustainability, aiming to reduce carbon emissions by 30% over the next five years[158]. - The company aims to achieve carbon peak and carbon neutrality goals through continuous technological innovation and industry extension[95]. - Future growth will be supported by strategic investments in emerging industries and the cultivation of new productive forces[128].