盈峰环境(000967) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥13,117,894,32, representing a 3.85% increase compared to ¥12,631,050 in 2023[21]. - Net profit attributable to shareholders was ¥513,514,275.5, up 3.04% from ¥498,383,73 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥502,176,740.0, reflecting a 12.91% increase from ¥444,753,43 in 2023[21]. - Cash flow from operating activities decreased by 16.13% to ¥1,162,049,48 from ¥1,385,556,5 in 2023[21]. - The total assets at the end of 2024 were ¥29,636,330,33, a 2.02% increase from ¥29,048,201 in 2023[21]. - The company's net assets attributable to shareholders increased by 0.47% to ¥17,519,445,62 from ¥17,437,509 in the previous year[21]. - The total operating revenue for 2024 reached ¥13,117,894,323.95, representing a year-on-year increase of 3.85% compared to ¥12,631,050,967.34 in 2023[80]. - The urban services segment generated operating revenue of 6.441 billion yuan, a year-on-year increase of 14.41%, with a new annualized contract amount of 1.486 billion yuan, ranking second in the industry[69]. - The environmental equipment segment reported operating revenue of 5.187 billion yuan, a year-on-year growth of 2.01%, maintaining the number one position in domestic sales for 24 consecutive years[71]. Dividend Distribution - The company plans to distribute a cash dividend of 1.89 CNY per 10 shares (including tax) to all shareholders[5]. - The company plans to distribute cash dividends of 1.89 yuan per 10 shares, totaling approximately 599 million yuan, which represents 116.56% of the net profit attributable to shareholders for 2024[77]. - The total cash dividend (including other methods) accounts for 87.96% of the total profit distribution amount[185]. - The company has a cash dividend policy that ensures at least 30% of the average distributable profit over the last three years is distributed in cash[185]. - The total distributable profit for the year-end 2023 is 786,431,614.32 yuan, leaving a retained undistributed profit balance of 390,563,922.07 yuan after the cash dividend distribution[187]. Business Operations and Strategy - The company reported significant changes in its business scope, focusing on environmental monitoring and engineering services[19]. - The company has expanded its operations to include the development and sales of environmental protection equipment and services[19]. - The company is committed to environmental technology development and consulting services, aligning with market trends[19]. - The company has established a strong presence in the environmental engineering sector, indicating growth potential[19]. - The company is focusing on a full-cycle solution for urban environmental management, which includes planning, investment, construction, and operation[32]. - The company has established 315 subsidiaries and operates in three major industrial bases in China, along with two overseas factories in Thailand and Italy[44]. - The company is focused on expanding its market reach and improving operational efficiency through strategic acquisitions and new service offerings[116]. - The company aims to leverage the "Thousand Villages Demonstration, Ten Thousand Villages Rectification" project to enhance rural waste management systems[118]. Research and Development - The company's R&D investment amounted to ¥317,117,284 in 2024, a decrease of 10.13% compared to ¥352,849,905.78 in 2023, representing 2.42% of operating revenue[94]. - The number of R&D personnel decreased by 17.41% from 1,212 in 2023 to 1,001 in 2024, with a notable drop in the proportion of personnel holding bachelor's degrees, from 5.99% to 5.20%[94]. - The capitalized R&D investment dropped to 0% in 2024 from 2.50% in 2023, indicating a shift to expensing R&D costs during the development phase[95]. - The company has launched several new products, including a 3-ton pure electric sweeper and a 4-ton fire-fighting water truck, aimed at enhancing market competitiveness[94]. Market Position and Growth - The company achieved a sales volume of 12,173 units in environmental equipment for 2024, with a market share of 19.3%, maintaining the industry's leading position for 24 consecutive years[46]. - The company reported a significant increase of 45% in the sales of new energy environmental protection equipment, highlighting a market growth opportunity[33]. - The company sold 2,691 pure electric environmental vehicles in 2024, maintaining a market share of 30.5%, and saw a 117% year-on-year sales increase in Q1 2025, raising market share to 35%[56]. - The company has established itself as a leader in environmental equipment sales for 24 consecutive years, holding over 1,316 valid patents, including 621 invention patents[61]. Corporate Governance - The company has distributed cash dividends for 12 consecutive years, with a total cash dividend of approximately 1.437 billion yuan from 2022 to 2024, accounting for 83.25%, 79.43%, and 134.89% of the net profit attributable to shareholders in each respective year[143]. - The company received an A rating in the Shenzhen Stock Exchange's information disclosure evaluation for 2023-2024 and won the "Golden Information Disclosure" award for its outstanding performance in investor relations[145]. - The company has implemented three stock option incentive plans and two employee stock ownership plans to enhance the sense of responsibility and mission among its management team and key employees[142]. - The company will continue to strengthen its internal governance structure and improve its internal management systems to protect the legitimate rights and interests of all shareholders[147]. - The company has established a complete independent financial system, ensuring financial independence from its controlling shareholders[154]. Risk Management - The company recognizes policy risks in the environmental industry and has established a dynamic policy tracking mechanism to adapt to changes in macroeconomic policies and regulations[133]. - The company faces operational management risks due to rapid business expansion and has implemented a "talent empowerment + management upgrade" strategy to enhance its management capabilities[135]. - The company has committed to systematic review and improvement of its internal control framework based on self-assessment findings[200]. Employee Management - The total number of employees at the end of the reporting period is 19,228, with 231 in the parent company and 18,997 in major subsidiaries[178]. - The employee composition includes 15,389 production personnel, 1,002 sales personnel, 1,339 technical personnel, 169 financial personnel, and 1,329 administrative personnel[178]. - The company has implemented a dynamic salary policy based on job value and individual performance, ensuring competitive compensation for core talents[179]. - In 2024, over 400 professional employees achieved job level promotions, reflecting the effectiveness of the company's talent development strategy[181]. Environmental Initiatives - The company is focusing on the integration of new energy and intelligent technology in environmental equipment, aligning with national carbon neutrality strategies[43]. - The company’s environmental monitoring services cover various fields, providing comprehensive solutions for environmental protection and smart city initiatives[53]. - The company is committed to high-quality development, focusing on optimizing business structure and improving operational efficiency, with smart equipment and smart services revenue growing by 2.01% and 14.41% respectively[76].