HIRON COLD CHAIN(603187)2025-04-24 12:55Financial Performance - The company's operating revenue for 2024 was CNY 2,830,799,068.32, a decrease of 11.67% compared to CNY 3,204,908,934.09 in 2023[24]. - The net profit attributable to shareholders for 2024 was CNY 353,663,695.92, down 14.39% from CNY 413,086,266.20 in 2023[24]. - The net cash flow from operating activities decreased by 37.02% to CNY 401,370,334.62 in 2024 from CNY 637,281,997.60 in 2023[24]. - The basic earnings per share for 2024 was CNY 0.92, a decline of 14.81% from CNY 1.08 in 2023[25]. - The weighted average return on equity decreased by 2.09 percentage points to 8.77% in 2024 from 10.86% in 2023[25]. - The total assets at the end of 2024 were CNY 5,585,171,233.77, a slight decrease of 0.94% from CNY 5,638,134,584.78 at the end of 2023[24]. - The net assets attributable to shareholders increased by 3.52% to CNY 4,132,455,441.15 at the end of 2024 from CNY 3,991,772,407.33 at the end of 2023[24]. - The commercial display cabinet business generated revenue of 2.68 billion RMB, a decline of 12.24%, accounting for 94.62% of total revenue[48]. - The production volume of commercial display cabinets was 1,032,380 units, a decrease of 22.87% compared to the previous year[52]. - The sales volume of commercial display cabinets was 1,063,423 units, down 16.81% year-on-year[52]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.50 per share (including tax) based on the total share capital on the record date for the distribution plan[6]. - The cash dividend amount for the reporting period is CNY 191,180,945.50, representing 54.06% of the net profit attributable to ordinary shareholders[128]. - The total cash dividend amount (including share buybacks) is CNY 227,837,475.06, which is 64.42% of the net profit attributable to ordinary shareholders[128]. - The cumulative cash dividend amount over the last three accounting years is CNY 498,448,127.75[130]. - The average net profit over the last three accounting years is CNY 352,987,381.23, resulting in a cash dividend ratio of 141.21%[131]. Risk Management - There are no significant risks that materially affect the company's production and operations during the reporting period[8]. - The company has outlined various risks and countermeasures in the management discussion and analysis section[8]. - The company faces risks from market competition and the inability to timely develop new products, emphasizing the need for continuous R&D investment[81]. - Fluctuations in raw material prices, particularly steel and isocyanates, could significantly impact the company's operational performance[82]. - A significant portion of the company's revenue is concentrated among its top five clients, posing a risk if any major client changes[84]. - The company is proactively managing risks related to international trade policy changes by coordinating with clients for advance inventory and enhancing overseas supply channels[85]. Corporate Governance - The board of directors and supervisory board members have all attended the board meeting[4]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[92]. - The company held four shareholder meetings and six board meetings during the reporting period, ensuring compliance with legal procedures[91][92]. - The company has maintained a consistent shareholding structure with no changes in the number of shares held by directors and senior management[100]. - The company has confirmed that all financial reports for 2024 are accurate and comply with legal requirements[115]. Strategic Initiatives - The company is expanding its product matrix through upgrades in functionality, industrial design optimization, and energy efficiency improvements, maintaining a stable market share in the commercial frozen display cabinet sector[36]. - The company has initiated the construction of its first overseas production base, designed to have an annual production capacity of 500,000 units, which commenced construction in September 2024[36]. - The company is actively expanding into the commercial refrigeration display cabinet, supermarket display cabinet, and commercial smart vending machine sectors, with positive sales growth in these areas[36]. - The company aims to increase its market share in commercial refrigeration display cabinets and expand into new retail and fast-moving consumer goods sectors[76]. - The company is focusing on technological innovation and product quality to capture a larger market share in the cold chain equipment industry[74]. Research and Development - The company’s R&D is market-driven, leading to a comprehensive first-mover advantage in technology, particularly in the smart business sector[43]. - The company’s research and development expenses were 99 million RMB, a decrease of 8.88% year-on-year[47]. - The company has established a flexible production management system, ensuring timely and accurate order delivery[45]. - The company has a stable supplier network that supports its flexible production system, creating a competitive barrier[45]. Social Responsibility - The company has invested 239.98 million yuan in environmental protection during the reporting period[141]. - The company reduced carbon emissions by 128.10 tons through the use of clean energy and environmentally friendly refrigerants[143]. - Total donations and public welfare project investments amounted to 14.39 million yuan, benefiting 210 individuals[144]. - The company contributed 29.64 million yuan to poverty alleviation and rural revitalization projects, benefiting 13,900 people[145]. - The company actively participates in social responsibility initiatives, including scholarships and educational funds for students[144]. Financial Management - The company has a total of 40,000,000 RMB in bank financial products from non-public stock issuance, with an outstanding balance of 10,500,000 RMB[159]. - The company has committed 26,000,000 RMB in bank financial products from self-owned funds, with an outstanding balance of 23,000,000 RMB[159]. - The company has a total of 62 financial products with a total investment of 215 million[162]. - The total amount of funds raised through the issuance of convertible bonds in July 2020 was ¥500,127,000, with a net amount of ¥493,735,223.86, achieving a utilization rate of 52.98%[166]. - The company raised ¥999,999,980.41 through a targeted stock issuance in July 2022, with a net amount of ¥983,773,565.59, and a utilization rate of 72.79%[166].