Yuanxing Energy(000683)2025-04-24 16:10Financial Performance - The company achieved operating revenue of CNY 13.26 billion in 2024, representing a 10.13% increase compared to CNY 12.04 billion in 2023[18]. - Net profit attributable to shareholders reached CNY 1.81 billion, up 28.46% from CNY 1.41 billion in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 2.07 billion, a decrease of 14.17% from CNY 2.41 billion in 2023[18]. - The net cash flow from operating activities increased by 43.50% to CNY 4.51 billion, compared to CNY 3.14 billion in 2023[18]. - The company’s earnings per share (EPS) was CNY 0.49, a 25.64% increase from CNY 0.39 in the previous year[18]. - The company reported a total revenue of 13.26 billion yuan in 2024, an increase of 10.13% compared to the previous year[61]. - Net profit attributable to shareholders reached 1.81 billion yuan, up 28.46% year-on-year, while the net profit excluding non-recurring items decreased by 14.17% to 2.07 billion yuan[57]. - The company's revenue from the alkali industry was 10.15 billion yuan, accounting for 76.53% of total revenue, with a year-on-year increase of 41.38%[62]. - The revenue from urea decreased by 24.89% to 2.89 billion yuan, representing 21.76% of total revenue[62]. Production and Capacity - The company produced a total of 9.08 million tons of various products in 2024, including 5.78 million tons of soda ash and 1.43 million tons of sodium bicarbonate[28]. - The company has a soda ash production capacity of 6.8 million tons per year, with a utilization rate of 84.92%[47]. - The company’s small soda production capacity is 1.5 million tons per year, with a utilization rate of 95.49%[47]. - The company’s urea production capacity is 154,000 tons per year, with a utilization rate of 111.61%[47]. - The company is constructing a new soda ash capacity of 2.8 million tons, with phase one already achieving production standards as of June 2023[37]. - The company has a proven reserve of 19.308 million tons and a recoverable reserve of 11.646 million tons at the Anpeng mine, contributing to a strong resource base[52]. Environmental Compliance and Initiatives - The company is primarily engaged in the production and sales of natural soda ash and sodium bicarbonate, adhering to various environmental protection laws and standards[167]. - The company has completed environmental impact assessments and obtained valid pollutant discharge permits for seven subsidiaries, ensuring compliance with environmental regulations[168]. - The company follows multiple emission standards, including the "Emission Standard of Air Pollutants for Thermal Power Plants" and "Comprehensive Emission Standard of Air Pollutants" among others[169]. - The company has undertaken several environmental impact reports and approvals for projects, including a 400Kt/a high-quality low-salt soda ash expansion project and a 300Kt/a sodium bicarbonate expansion project[170]. - The company is committed to sustainable practices, as evidenced by its ongoing environmental assessments and compliance with local and national regulations[171]. - The company has implemented new technologies and projects aimed at reducing environmental impact, such as the utilization of waste liquid and gas in production processes[170]. - The company has received multiple approvals from environmental protection agencies for its various projects, demonstrating its commitment to regulatory compliance[169]. Research and Development - The company has established a national-level enterprise technology center and an Inner Mongolia natural soda engineering center, enhancing its R&D capabilities in the natural soda industry[54]. - The company is focusing on the development of new technologies and processes to enhance resource recovery and operational efficiency in line with national carbon reduction policies[79]. - The company increased its R&D personnel from 245 in 2023 to 299 in 2024, representing a growth of 22.04%[80]. - R&D investment decreased from ¥151,377,959.77 in 2023 to ¥123,945,457.01 in 2024, a decline of 18.12%[81]. Corporate Governance and Management - The company has established a governance structure that includes a board of directors, supervisory board, and various specialized committees, ensuring compliance with relevant laws and regulations[112]. - The company is actively improving its internal control systems and corporate governance to enhance overall operational standards[112]. - The company has implemented a robust insider information management system to prevent illegal trading activities[118]. - The company has a clear strategy for continuous improvement in its internal control and governance systems[116]. - The company has established a comprehensive internal control manual to enhance compliance and operational management[116]. Market Strategy and Future Outlook - The company plans to enhance its natural soda and nitrogen fertilizer sectors, focusing on high-quality development and expanding production capacity[102]. - The company aims to improve product quality and brand influence through technological innovation and market segmentation, targeting new profit growth points[103]. - The company is committed to maintaining a strong financial position while pursuing growth opportunities in emerging markets[128]. - The company is actively exploring potential mergers and acquisitions to bolster its competitive advantage in the industry[128]. Dividend Policy - The company plans to distribute a cash dividend of 3 RMB per 10 shares (including tax) based on a total share capital of 3,718,739,060 shares as of December 31, 2024[4]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit for the year to be distributed as cash dividends, and at least 30% of the average annual distributable profit over the last three years[154]. - The company distributed a cash dividend of 3 CNY per 10 shares, amounting to a total cash dividend of 1,115,621,718 CNY, which is 100% of the total profit distribution[156].