Liqun Co.,Ltd.(601366)2025-04-24 13:50Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.02 per share (including tax) to all shareholders, amounting to a total of RMB 17,079,557.36 (including tax) based on the adjusted total share capital of 853,977,868 shares after excluding repurchased shares[6]. - As of December 31, 2024, the company's undistributed profits amounted to RMB 1,722,633,749.56, with RMB 1,705,554,192.20 carried forward for future distribution[6]. - The company has established a cash dividend policy to ensure transparency and protect the rights of minority investors, with a focus on sustainable and stable returns[144][145]. - In the most recent fiscal year, the company distributed a cash dividend of approximately 17.08 million RMB, which represents 62.70% of the net profit attributable to ordinary shareholders[149][150]. - The total cash dividend amount over the last three fiscal years was approximately 127.53 million RMB, with a total buyback and cancellation amount of about 198.43 million RMB, leading to a cumulative total of approximately 325.97 million RMB[152]. - The company has approved a new shareholder return plan for 2025-2027, considering current operational conditions and shareholder expectations[146]. Financial Performance - The company's operating revenue for 2024 was approximately ¥7.44 billion, a decrease of 3.39% compared to ¥7.70 billion in 2023[24]. - The net profit attributable to shareholders of the listed company was ¥27.24 million, down 8.52% from ¥29.78 million in 2023[24]. - The net cash flow from operating activities decreased by 37.67% to ¥833.54 million from ¥1.34 billion in 2023[24]. - The basic earnings per share remained unchanged at ¥0.03, while the diluted earnings per share also stayed at ¥0.02[25]. - The weighted average return on equity increased to 0.64% from 0.55% in 2023[25]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, improving by 64.32% to -¥17.04 million from -¥47.75 million in 2023[24]. - The total assets decreased by 2.27% to approximately ¥16.22 billion from ¥16.60 billion in 2023[24]. - The company achieved operating revenue of 7.44 billion yuan in 2024, with a total profit of 77.06 million yuan and a net profit attributable to shareholders of 27.24 million yuan[36]. - Total revenue for the company reached 46,148,022, a decrease of 939,990 compared to the previous period[122]. - The company reported a significant decline in performance, with a total revenue drop of approximately 2.03%[122]. Operational Efficiency and Cost Management - The company implemented cost control measures and inventory management to mitigate the impact of declining revenue[26]. - The net cash flow from operating activities was significantly affected by increased cash payments for goods and services due to the earlier procurement for the Lunar New Year[26]. - Management expenses decreased by 7.76% to CNY 604,498,146.84, driven by cost-saving measures[67]. - Financial expenses increased by 4.34% to CNY 333,716,899.03, due to the capitalization of convertible bond interest being reclassified as an expense[68]. - Total cost for the period was 4,917,397,277.04 yuan, a decrease of 4.6% compared to the same period last year[74]. - Retail chain costs accounted for 72.49% of total costs, down from 76.53% year-on-year, with a cost of 3,564,832,715.34 yuan[74]. - Employee compensation decreased by 6.95% to 770,254,113.05 yuan due to performance decline and reduced employee bonuses[76]. Retail and Market Expansion - The company operates various retail formats, including comprehensive shopping malls and convenience stores, as part of its retail chain business[14]. - The company is focusing on three strategic areas: retail chain, logistics supply chain, and food industry, to enhance core competitiveness and seek sustainable development[35]. - The company operates 70 large retail stores and 182 convenience and specialty stores, covering a total operating area of over 2 million square meters[52]. - The company opened 6 new stores and closed 23 underperforming stores in 2024, optimizing its retail chain layout[64]. - The company is actively innovating its retail formats to adapt to consumer demand, including various offline and online business models[47]. - The company plans to continue exploring new locations for future store openings to drive growth and increase market share[86][87]. Logistics and Supply Chain - The company has established a robust logistics supply chain system, with four large smart logistics centers and a total storage area exceeding 600,000 square meters[53]. - The logistics supply chain segment is expanding its market share and enhancing brand operation capabilities, with over 600,000 square meters of smart logistics centers[43]. - In 2024, the logistics supply chain business achieved sales revenue of 5.843 billion RMB, accounting for 51.84% of the company's total revenue before consolidation[59]. - The logistics supply chain's export revenue reached 2.258 billion RMB, a year-on-year increase of 4.70%, contributing 30.34% to the company's total revenue, up 2.34 percentage points year-on-year[59]. - The company has a strong logistics capability with 4 large logistics centers and over 600,000 square meters of warehouse space[92]. - The company’s logistics centers can handle a variety of products, including fresh produce, food and beverages, and household goods[92]. Food Industry Development - The company has a strong focus on food industry development through its subsidiaries specializing in food research, production, and sales[14]. - The food industry segment has developed over 500 products and plans to research over 700, with successful exports to Japan and Europe[45]. - The food industry segment's export business generated over 47 million RMB in revenue, with a year-on-year growth of over 30%, and a total outbound volume exceeding 11,000 tons[62]. - The company launched a new automated production line for frozen fries with an annual capacity of over 30,000 tons, marking a significant breakthrough in the food industry[62]. - The company reported a significant increase in production and sales of various food products, with total production rising by 17.6% year-on-year[71]. Governance and Compliance - The company adheres to strict governance standards, ensuring independent operations and protecting shareholder rights[117]. - There are no significant discrepancies in governance practices compared to regulatory requirements, ensuring compliance and operational integrity[118]. - The company held its first extraordinary general meeting on January 8, 2024, where several proposals were approved, including amendments to the independent director work policy and related party transaction decision-making[119]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[166]. - The company has not reported any violations of laws or regulations by its directors, supervisors, senior management, or controlling shareholders[186]. Employee Management and Training - The company has a total of 6,559 employees, with 178 in the parent company and 6,381 in major subsidiaries[135]. - The employee composition includes 5,015 sales personnel, 498 financial staff, and 240 technical staff[135]. - The company has established a salary increase system, with annual increments based on economic performance typically ranging from 10% to 20%[136]. - The company aims to enhance employee capabilities through a combination of internal and external training methods[138]. - The company will regularly organize management training for mid-to-senior level staff, covering areas such as communication management, leadership, and execution, to improve overall management capabilities[142]. Future Outlook and Strategic Initiatives - The company plans to leverage its existing resources to explore potential mergers and acquisitions to drive growth[122]. - Future outlook indicates a commitment to innovation and product development to meet changing consumer demands[122]. - The company plans to issue 20,000.00 million in convertible bonds, with an expected completion date in June 2024, aiming to support comprehensive construction projects[200]. - A new project involving the issuance of 30,000.00 million in bonds is set to be completed by June 2024, with an anticipated profit of 5,628.71 million[200]. - The company is also planning to issue 70,000.00 million in convertible bonds, with a completion date in April 2022, to fund blockchain and construction projects[200].