NBOND(603238)2025-04-24 14:10Financial Performance - The company's operating revenue for 2024 reached ¥2,236,643,589.04, representing a 16.80% increase compared to ¥1,914,934,521.20 in 2023[22]. - Net profit attributable to shareholders for 2024 was ¥95,227,339.40, up 15.22% from ¥82,644,855.38 in 2023[22]. - Basic earnings per share increased to ¥0.54 in 2024, a rise of 17.39% from ¥0.46 in 2023[21]. - The net cash flow from operating activities for 2024 was ¥249,508,840.54, reflecting a significant increase of 42.12% compared to ¥175,558,044.14 in 2023[22]. - The total assets of the company at the end of 2024 were ¥2,812,427,300.06, which is a 13.34% increase from ¥2,481,432,310.55 at the end of 2023[22]. - The net profit after deducting non-recurring gains and losses was ¥86,147,825.68 for 2024, a 21.22% increase from ¥71,066,151.28 in 2023[22]. - The company reported a quarterly revenue of ¥678,160,373.36 in Q4 2024, contributing to a strong year-end performance[24]. Research and Development - The company’s research and development expenses amounted to 77.73 million RMB, with nearly 150 technical documents completed during the reporting period[33]. - The company has obtained a total of 274 authorized patents, including 72 invention patents, leading the industry in patent quantity[33]. - R&D expenses amounted to CNY 77,731,435.81, a decrease of 4.66% from the previous year, due to improved management of R&D processes[52]. - The total R&D expenditure was ¥77,731,435.81, accounting for 3.48% of total revenue[60]. Market and Product Development - The company successfully developed high-end differentiated products, which helped avoid price competition and secure large orders from overseas clients[31]. - The proprietary brand "Xiaozhijia" achieved revenue of 29.85 million yuan, a year-on-year increase of 80.62%, with a 116% growth during the Double 11 shopping festival[35]. - The company plans to add over 20 new production lines for wet and dry wipes to meet increasing customer demand, improving production efficiency by over 30%[37]. - The company aims to increase the sales proportion of wet dispersible products and optimize product structure, with a focus on high-quality, high-priced products in the market[74]. Financial Position - The total liabilities increased to CNY 1,162,706,031.42, up from CNY 883,001,327.35, indicating a growth of 31.7%[186]. - Shareholders' equity reached CNY 1,649,721,268.64, compared to CNY 1,598,430,983.20 in 2023, reflecting an increase of 3.8%[187]. - The company reported a significant increase in long-term assets, totaling CNY 1,446,286,552.96, up from CNY 1,365,183,034.51, representing a growth of 5.9%[186]. Operational Efficiency - The company completed a technical upgrade of its high-speed wet and dry spunlace production line, enhancing energy efficiency and product quality, which is expected to significantly increase production capacity and reduce unit production costs[34]. - The company is implementing digital systems for lean production management to improve quality and increase output while reducing unit costs[76]. - The company is committed to expanding its OEM business and enhancing R&D capabilities to strengthen its market position as a leading exporter of wet wipes in China[74]. Environmental Responsibility - The company invested CNY 2,950,300 in environmental protection during the reporting period[122]. - The company has established a specialized wastewater treatment facility, achieving compliance with municipal discharge standards through advanced treatment processes[126]. - The total wastewater discharge during the reporting period was 400,000 tons, with no exceedances reported for key pollutants[124]. Governance and Compliance - The board of directors operates in accordance with the company's articles of association and relevant laws, ensuring compliance and governance[83]. - The supervisory board effectively supervises major matters, related transactions, and financial conditions, providing independent opinions[83]. - The company has implemented a management system for insider information in compliance with relevant laws and regulations[83]. Future Outlook - In 2025, the company plans to focus on developing differentiated, technical, and personalized water-jet non-woven materials, maintaining its leading position in production processes in the domestic market[74]. - The company expects to double the revenue of its own brand "Xiaozhijia" in 2025, leveraging market trends and consumer pain points to develop new applications and innovative products[77]. - The company aims to improve operational efficiency and profitability by enhancing management and internal controls[145].