GREAT-SUN(603336)2025-04-24 13:05Financial Performance - In 2024, the company achieved operating revenue of CNY 1,080,112,356.28, a decrease of 0.52% compared to the previous year[23]. - The net profit attributable to shareholders was CNY 18,302,412.99, down 23.59% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 16,961,056.32, a decrease of 9.70% compared to the previous year[23]. - The company's total assets at the end of 2024 were CNY 1,935,742,342.38, reflecting a 5.00% increase from the previous year[23]. - Operating profit increased by 13.32% year-on-year to CNY 2,124.72 million[68]. - The main business revenue accounted for 99.82% of total operating revenue, with a slight decrease of 0.17% compared to the previous year[70]. - The total operating cost for the period was 980,451,380.73 CNY, a decrease of 1.57% compared to the previous year[79]. - The gross profit margin improved by 1.29 percentage points compared to the previous year[74]. Cash Flow and Financial Management - The net cash flow from operating activities increased significantly by 1,115.38% to CNY 35,387,360.05, mainly due to reduced cash payments for goods and services[24]. - The net cash flow from investing activities decreased by 76.55% to -¥44,347,567.34, primarily due to increased cash payments for fixed assets and other long-term assets[89]. - The net cash flow from financing activities increased by 27.60% to ¥29,838,422.55 compared to ¥23,384,582.58 in the previous year[89]. - Cash and cash equivalents increased by 51.66% to ¥58,702,572.79 from ¥38,707,205.57 in the previous year[92]. - The company's goodwill decreased by 40.62% to ¥273,465.35 from ¥460,530.39 in the previous year due to impairment provisions[92]. Business Operations and Strategy - The company is focusing on stable operations and optimizing its supply chain to enhance efficiency amid a challenging economic environment[32]. - The company aims to deepen high-quality development and improve its industrial structure while maintaining a steady business approach[32]. - The company is expanding its market presence by establishing a supply chain for fresh durians from Malaysia, which has recently been approved for export to China[40]. - The company is committed to high-quality development and aims to strengthen its core competitiveness across its four major business segments: fruits and vegetables, frozen foods, edible oils, and frozen meats[41]. - The company is actively pursuing market expansion through both online and offline channels, enhancing brand awareness for "Fengshouge" and "Xiangjiamen" products[59]. Risk Management - The company has detailed the major risks associated with its operations in the annual report[8]. - The company recognizes the risk of price fluctuations in fruit and vegetable products due to various natural factors and market dynamics, which may impact gross margins[125]. - The company faces risks of inventory devaluation or unsold products due to seasonal and regional characteristics of fruit and vegetable products, which may lead to price declines and reduced profit margins[126]. - Natural disasters significantly impact fruit yield and quality, posing potential risks to the company's assets and earnings despite enhanced disaster management efforts[129]. Corporate Governance - The company has maintained compliance with relevant regulations during the shareholders' meetings, ensuring proper governance practices[143]. - The company has established specialized committees under the board, including the audit, nomination, compensation, and strategic committees, to enhance governance[157]. - The company received a standard unqualified opinion on the effectiveness of its internal controls for 2024 from the auditing firm Xin Yong Zhong He[177]. - The company has conducted one meeting of the Compensation and Assessment Committee, approving compensation proposals for directors and senior management[161]. Shareholder Engagement - The 2023 annual shareholders' meeting was held on June 5, 2024, with 15 participants representing 279,943,137 shares, accounting for 49.08% of the total voting shares[143]. - A total of 10 proposals were approved at the 2023 annual shareholders' meeting, including the 2023 annual report and profit distribution plan[143]. - The 2024 first extraordinary shareholders' meeting approved 7 proposals, including amendments to the company's articles of association and the reappointment of the auditing firm for 2024[145]. Social Responsibility and Sustainability - The company actively engages in social responsibility, adhering to labor laws and promoting employee training and development[185]. - The company supports the national "Rural Revitalization" strategy, facilitating direct supply from farmers to consumers and reducing circulation costs[189]. - The company has implemented measures to reduce carbon emissions and has prioritized energy-saving and environmentally friendly equipment in its operations[184].