联发股份(002394) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was CNY 4,178,795,354.17, a decrease of 1.93% compared to CNY 4,261,184,808.73 in 2023[18] - Net profit attributable to shareholders for 2024 increased by 34.94% to CNY 201,549,815.37 from CNY 149,361,974.00 in 2023[18] - The net cash flow from operating activities improved significantly to CNY 588,107,695.31, a 392.71% increase from a negative CNY 200,920,805.13 in 2023[18] - Basic earnings per share rose by 34.78% to CNY 0.62 in 2024, compared to CNY 0.46 in 2023[18] - Total assets at the end of 2024 were CNY 5,976,737,150.12, a decrease of 3.98% from CNY 6,224,177,386.18 at the end of 2023[18] - The net assets attributable to shareholders increased by 5.64% to CNY 4,105,815,492.86 at the end of 2024, up from CNY 3,886,590,614.98 at the end of 2023[18] - The company reported an operating profit of CNY 22,988,650, a year-on-year increase of 16.29%[35] - Net profit for the period was CNY 20,527,050, reflecting a year-on-year growth of 39.11%[35] Revenue Breakdown - The textile and apparel segment contributed CNY 3,552,006,859.21, accounting for 85% of total revenue, with a decline of 3.09% compared to the previous year[39] - The domestic market accounted for 57.90% of total revenue, showing a significant decline of 13.88% year-on-year[40] - The company’s revenue for the textile and apparel segment was approximately ¥3.55 billion, a decrease of 3.09% year-over-year, with a gross margin of 18.40%, up 0.30% from the previous year[42] - Fabric sales revenue reached ¥2.46 billion, with a gross margin of 19.53%, reflecting a 5.42% increase in revenue compared to the previous year[42] - The clothing segment experienced a significant decline, with sales revenue of ¥436.11 million, down 16.19% year-over-year, but maintained a gross margin of 30.03%[42] - Domestic revenue was approximately ¥2.42 billion, down 13.88% year-over-year, while international revenue increased by 20.99% to ¥1.04 billion[42] Research and Development - The company developed over 100 new products, including innovative fabrics such as "pure cotton high-density low-water no-salt cloud-dyeing functional fabric" which received provincial new product certification[36] - The company established a product development center led by James, optimizing product design and development resources[35] - Research and development expenses decreased by 23.14% to ¥41.41 million compared to the previous year[56] - The number of R&D personnel increased slightly by 0.27% from 367 in 2023 to 368 in 2024, with a proportion of 3.44% of total employees[63] - The R&D team has seen a significant change in educational structure, with a 100% increase in master's degree holders from 1 to 2[63] Market Strategy - The company is focusing on expanding its market presence in the "Belt and Road" regions while enhancing customer satisfaction and loyalty through refined management[36] - The company is focusing on strengthening product suitability and profitability through partnerships with global customers[57] - The company aims to enhance its market competitiveness through the development of new technologies and products, particularly in the field of sustainable textiles[62] - The company plans to enhance the proportion of high-end, high-quality, functional, and environmentally friendly fabrics in its product mix[57] Environmental Compliance - The company holds a pollution discharge permit valid until December 17, 2028, for Jiangsu Lianfa Textile Co., Ltd.[143] - Jiangsu Lianfa Textile Co., Ltd. and its subsidiaries comply with multiple environmental protection laws and standards, including the Air Pollution Prevention and Control Law[143] - The company has received environmental impact assessment approvals for its new and upgraded projects, ensuring compliance with environmental regulations[143] - The company is classified as a key pollutant discharge unit by environmental protection authorities[143] - The company has implemented pollution prevention measures as part of its project approvals, ensuring stable compliance with emission standards[143] Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, and operates in compliance with legal and regulatory requirements[98] - The company emphasizes social responsibility, balancing the interests of stakeholders while maximizing profits[98] - The company has established a robust internal audit system to enhance management efficiency and risk prevention capabilities[98] - The company maintains a clear ownership structure, ensuring independence in asset management and financial operations[101] - The company has a dedicated investor relations management system to enhance communication with investors[98] Employee Management - The total number of employees at the end of the reporting period is 10,705, with 2,054 in the parent company and 8,651 in major subsidiaries[126] - The number of production personnel is 8,292, accounting for approximately 77.4% of the total workforce[126] - The number of technical personnel is 1,173, representing about 11% of the total workforce[126] - The educational background of employees shows that 8,820 have a high school education or below, which is about 82.3% of the total[126] Financial Management - The company reported a total sales expense of 142,852,656.81 RMB before adjustments, which was revised to 142,045,335.17 RMB after accounting changes[161] - The company's operating costs were adjusted from 3,540,015,691.44 RMB to 3,540,823,013.08 RMB due to the reclassification of warranty costs[161] - The company has not encountered any significant issues in the integration of subsidiaries during the reporting period[134] - The company has fulfilled all commitments made by its controlling shareholders and related parties during the reporting period[156] Shareholder Information - The total number of shares is 323,700,000, with 99.87% being unrestricted shares (323,285,606) and 0.13% being restricted shares (414,394)[190] - Jiangsu Lianfa Group holds 40.45% of the shares, totaling 130,934,100 shares, with no changes during the reporting period[193] - The top ten shareholders include Beijing Taide Sheng Private Fund Management Co., Ltd. with 2,455,969 shares (0.76%) and Guangzhou Lingtai Investment Co., Ltd. with 1,500,000 shares (0.46%)[194] - The company has not conducted any repurchase transactions among the top ten shareholders during the reporting period[194] Risk Management - Risks include weak international market demand and raw material price fluctuations, with strategies in place for hedging and procurement management[89] - The company has established a valuation enhancement plan to improve market value and investor relations[92] - The company actively monitors risks and has reported no significant issues during the supervisory activities of the Supervisory Board[125]