Corporate Recognition and Events - Huifeng Diamond was awarded the title of "Advanced Manufacturing Enterprise in Tax Payment" for 2023 on February 19, 2024[4]. - The company participated in the Advanced Technology Innovation and Application Development Summit Forum for Wide Bandgap Semiconductors from June 5 to June 7, 2024[6]. - Huifeng Diamond launched four offline retail stores in December 2024, marking its commitment to cultivating diamond consumer terminals[14]. - The company showcased its cultivated diamond brand "Shu Se" at the Guangzhou Diamond Trading Center on August 9, 2024[12]. - The company has been recognized as a "National High-tech Enterprise" and has received various industry certifications, enhancing its competitive edge[50]. Financial Performance - The company's operating revenue for 2024 was CNY 216,294,525.45, a decrease of 56.35% compared to CNY 495,517,175.85 in 2023[34]. - The net profit attributable to shareholders for 2024 was CNY 3,939,331.08, reflecting a significant decline of 94.36% from CNY 69,883,182.35 in 2023[34]. - The gross profit margin decreased to 21.16% in 2024 from 27.28% in 2023[34]. - Total assets decreased by 15.18% to CNY 735,030,561.12 in 2024 from CNY 866,588,457.17 in 2023[36]. - The total liabilities were reduced by 54.09% to CNY 100,007,012.65 in 2024 from CNY 217,824,137.75 in 2023[36]. - The company reported a basic earnings per share of CNY 0.04 in 2024, down 94.74% from CNY 0.76 in 2023[34]. - The company's main business revenue for 2024 was approximately ¥191.83 million, a decrease of 59.47% compared to ¥473.35 million in 2023[71]. - The company's net profit for the reporting period was CNY 3.60 million, a decline of 94.93% compared to the previous year[67]. Research and Development - The company has established a research and development system combining independent research and industry-academia collaboration, focusing on market demand and technological advancements[49]. - The company is developing diamond powder applications in semiconductor and 5G fields, aiming to enhance product competitiveness[98]. - The company has completed the research on functional diamond composite materials for mobile phone back panels, focusing on thermal conductivity and wear resistance[98]. - The company is working on a specialized diamond grinding liquid for third-generation semiconductor substrates, improving processing efficiency and product stability[100]. - The company aims to expand its market presence by developing functional applications for micro-nano diamonds in various fields, including biomedical and advanced polishing[99]. Inventory and Cash Flow Management - The company’s inventory increased by 28.22% to 318.39 million yuan, accounting for 43.32% of total assets[61]. - The company's cash and cash equivalents at the end of the period were CNY 61.89 million, a decrease of 33.62% from the beginning of the period, mainly due to loan repayments and the expiration of material purchase guarantees[63]. - The company's inventory at the end of the period was valued at CNY 318.39 million, an increase of 28.22% from the beginning of the period, driven by increased raw material reserves and slower turnover of prepared products[64]. - The net cash flow from operating activities improved to CNY 30,525,758.35 in 2024, a 166.20% increase from a negative CNY 46,114,047.65 in 2023[37]. Market Trends and Industry Outlook - The diamond industry is expected to face intensified competition in 2024, with prices declining due to reduced demand and market weakness[53]. - The export volume of cultivated diamond roughs from China is projected to show significant growth in 2024, although export value is expected to decline[55]. - The price of cultivated diamond roughs began to decline in early 2023, with a stabilization at low levels and a potential increase of 10%-20% starting in November 2024[57]. - The domestic market for cultivated diamonds is expected to expand, with a focus on brand building, offline entities, online sales, and the non-wedding market[114]. Corporate Governance and Shareholder Information - The company has no significant related party transactions during the reporting period[147]. - The company has a total of 1,000,000 shares granted under the 2021 equity incentive plan, benefiting 21 individuals including directors and senior management[154]. - The company repurchased 610,000 shares, accounting for 0.6683% of the total share capital, with a total expenditure of CNY 7,930,139.71[157]. - The actual controllers of the company hold 70.65% of shares, which poses risks related to potential improper control over company operations[136]. - The company has established a complete salary management system to provide competitive compensation based on market levels and company performance[195]. Employee and Community Engagement - The company donated CNY 10,000 to the charity for rural revitalization efforts, contributing to local development[106]. - The company conducted 12 training sessions on labor laws and safety regulations, enhancing employees' legal awareness and safety skills[107]. - The company organized comprehensive health check-ups for all employees, ensuring their well-being[108]. - The total number of employees decreased from 306 to 285, with a net reduction of 21 employees during the reporting period[193].
惠丰钻石(839725) - 2024 Q4 - 年度财报