Conglin Technology(SH:688370)2025-04-24 13:35Financial Performance - The company's operating revenue for 2024 was CNY 595,296,649.06, a decrease of 6.22% compared to CNY 634,797,614.45 in 2023[25]. - The net profit attributable to shareholders for 2024 was CNY 90,020,758.62, reflecting a slight increase of 1.88% from CNY 88,362,392.44 in 2023[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 54,230,700.42, which is a 10.96% increase from CNY 48,875,688.86 in 2023[25]. - The net cash flow from operating activities for 2024 was CNY 218,629,302.53, showing a marginal increase of 0.12% compared to CNY 218,367,103.56 in 2023[25]. - The total assets as of the end of 2024 were CNY 3,180,041,430.50, a decrease of 3.43% from CNY 3,292,864,473.86 at the end of 2023[25]. - The net assets attributable to shareholders at the end of 2024 were CNY 2,667,172,487.32, a slight increase of 0.24% from CNY 2,660,914,242.87 at the end of 2023[25]. - The gross margin for hazardous waste disposal was 34.85%, down 2.37 percentage points year-on-year[131]. - The company experienced a decline in operating costs by 2.70% to 387.74 million yuan[129]. - The company reported a net cash flow from operating activities of 218.63 million RMB, which is a slight increase of 0.12% compared to the previous year[143]. Dividend and Share Buyback - The company plans to distribute a cash dividend of 3.60 RMB per 10 shares, totaling approximately 49.36 million RMB for the year 2024[8]. - The total cash dividend for the year amounts to 69.73 million RMB, representing 77.46% of the net profit attributable to shareholders[8]. - The company has implemented a share buyback amounting to approximately 20.37 million RMB during the reporting period[8]. - The cash dividend amount (including tax) was ¥49,358,836.44, accounting for 54.83% of the net profit attributable to ordinary shareholders[196]. - The total dividend amount (including tax) was ¥69,728,715.51, representing 77.46% of the net profit attributable to ordinary shareholders[196]. Research and Development - Research and development (R&D) expenses accounted for 5.17% of operating revenue, an increase of 0.19 percentage points[27]. - The company has 14 ongoing research projects, including a project on carbon accounting methods for hazardous waste treatment, which is part of the Shanghai Municipal Ecological Environment Bureau's 2024 research projects[46]. - The company added 9 authorized invention patents and 10 utility model patents during the reporting period[46]. - R&D investment totaled approximately ¥30.76 million, representing a decrease of 2.75% compared to the previous year, while the proportion of R&D investment to operating income increased by 0.19 percentage points to 5.17%[97]. - The company has filed for 22 new intellectual property projects, including 6 invention patents and 14 utility model patents, with a total of 172 intellectual property rights accumulated[95]. Market and Industry Trends - The hazardous waste treatment industry is currently experiencing a trend of consolidation, with leading companies encouraged to pursue mergers and acquisitions to enhance their capabilities[60]. - The hazardous waste industry in China has evolved through several stages, starting from the preparation phase in 1995 to the current integration development phase since 2020[59]. - The hazardous waste treatment industry faces risks from overcapacity and price competition, which may lead to future performance declines[111]. - The company aims to enhance its core business in hazardous waste treatment while exploring new profit growth points in the environmental sector[158]. - The hazardous waste treatment industry is undergoing consolidation, with larger companies expected to gain market share through mergers and acquisitions[157]. Technology and Innovation - The company has developed five core technology systems in hazardous waste treatment, including organic solvent resource utilization and low-cost flue gas treatment processes[86]. - The innovative ammonia thermal desorption technology allows for efficient separation and purification of ammonia and organic solvent components, leading to high-quality resource utilization of waste organic solvents[87]. - The company has achieved a purity level of 99.9% for cathode copper products through advanced electro-deposition technology, significantly increasing product quality and value[88]. - The company has developed an intelligent IoT control system for hazardous waste disposal, ensuring real-time data accuracy and stability in incineration operations[90]. - New technologies in the hazardous waste industry are advancing towards high-value, low-carbon, and intelligent solutions, enhancing resource utilization efficiency and environmental protection[78]. Governance and Management - The company held 6 board meetings, 4 supervisory board meetings, and 2 shareholder meetings during the reporting period, ensuring compliance with governance regulations[164]. - The company’s governance structure includes four specialized committees: Strategy Committee, Audit Committee, Nomination Committee, and Compensation and Assessment Committee, enhancing decision-making efficiency[164]. - The company has established and strictly implemented internal control systems to enhance information disclosure and protect shareholder interests[164]. - The company’s governance practices align with the requirements set by the China Securities Regulatory Commission, with no major discrepancies reported[164]. - The total compensation for all directors, supervisors, and senior management at the end of the reporting period amounted to 857.71 million[176]. Strategic Plans and Future Outlook - Future guidance suggests a projected revenue growth of 15% for the upcoming fiscal year, driven by increased demand and market expansion strategies[170]. - The company plans to leverage data governance and budget management to optimize resource operation efficiency and reduce operational costs[160]. - The management team emphasized the importance of sustainability initiatives, aiming for a 50% reduction in carbon footprint by 2025[175]. - The company plans to enhance its supply chain efficiency, which is expected to reduce operational costs by 15%[174]. - The company is actively pursuing mergers and acquisitions to enhance its competitive edge and diversify its product offerings[170].