Lily Group(SH:603823)2025-04-25 08:10Financial Performance - The company's operating revenue for 2024 reached ¥2,403,383,868.77, representing a year-on-year increase of 5.23% compared to ¥2,283,931,663.79 in 2023[23] - Net profit attributable to shareholders for 2024 was ¥176,058,764.60, a significant increase of 46.45% from ¥120,216,294.44 in 2023[23] - The net profit after deducting non-recurring gains and losses was ¥158,304,708.06, up 58.76% from ¥99,714,835.21 in the previous year[23] - The net cash flow from operating activities for 2024 was ¥328,886,622.42, showing a slight decrease of 2.58% from ¥337,593,339.92 in 2023[24] - The total assets at the end of 2024 amounted to ¥3,447,435,676.16, reflecting a 1.64% increase from ¥3,391,776,027.95 in 2023[24] - The net assets attributable to shareholders increased to ¥2,356,931,670.71, a growth of 7.10% compared to ¥2,200,770,693.67 in 2023[24] - Basic earnings per share for 2024 were ¥0.43, up 48.28% from ¥0.29 in 2023[25] - The diluted earnings per share also stood at ¥0.43, reflecting the same percentage increase of 48.28% from the previous year[25] - The weighted average return on equity increased to 7.73%, up 2.20 percentage points from 5.53% in 2023[25] Research and Development - Continuous investment in research and development has led to the authorization of 6 invention patents and 4 utility model patents during the reporting period[38] - The company achieved a technological breakthrough in high-performance pigments for LCD panel photoresists, resulting in external sales[38] - The company has obtained 62 authorized invention patents and 28 utility model patents, demonstrating strong R&D capabilities[47] - The company is a national high-tech enterprise with multiple R&D platforms, indicating a strong focus on innovation[47] - The company plans to increase R&D investment and enhance market expansion efforts to strengthen its core competitiveness and achieve sustained performance growth[131] Market Position and Strategy - The company has achieved a leading position in the domestic organic pigment industry, with high-performance organic pigments holding a significant market share domestically and increasing competitiveness internationally[89] - The market for high-performance and environmentally friendly organic pigments is steadily increasing, driven by rising performance requirements[40] - The company aims to become a world-class organic pigment supplier, focusing on technological innovation and environmental sustainability[127] - The company is positioned to benefit from the increasing demand for environmentally friendly pigments, as regulations tighten globally[88] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[55] Environmental and Safety Measures - The company has implemented safety production measures and energy-saving initiatives, aiming for zero accidents and injuries[37] - The company has implemented advanced environmental protection measures, ensuring compliance with national standards and enhancing safety[50] - The company has established a wastewater treatment center with a capacity of 10,000 tons per day and has implemented advanced environmental protection technologies[128] - The company has achieved zero exceedance in pollutant emissions for various categories, including wastewater and waste gas[196] - The company has developed a comprehensive environmental protection mechanism to manage pollution prevention facilities effectively[198] Corporate Governance - The company held 9 board meetings during the reporting period, with independent directors comprising 33% of the board[149] - The supervisory board conducted 7 meetings, ensuring compliance and oversight of daily operations and financial expenditures[150] - The company has strengthened information disclosure practices to ensure timely and accurate communication with investors[151] - The company actively engaged with investors through regular reports and announcements, maintaining fair treatment of all investors[152] - The company has established an internal control system to enhance risk prevention capabilities and operational standards[153] Employee and Management Structure - The company had a total of 1,835 employees, with 1,074 in the parent company and 761 in major subsidiaries[176] - The workforce includes 1,311 production personnel, 61 sales personnel, 223 technical personnel, 25 financial personnel, and 215 administrative personnel[176] - The company has established a performance management system linking compensation to job performance, aimed at improving management efficiency and employee welfare[177] - The education level of employees includes 4 with doctoral degrees, 17 with master's degrees, and 171 with bachelor's degrees[176] Dividend Policy - The company has implemented a cash dividend policy since 2014, distributing no less than 20% of the annual distributable profits as cash dividends[180] - In 2023, the company distributed a cash dividend of 1.50 RMB per 10 shares, totaling 61,824,071.40 RMB, which represents 51.43% of the net profit attributable to ordinary shareholders[181][185] - Over the last three accounting years, the cumulative cash dividend amount (including tax) was 223,787,400.60 RMB, with an average net profit of 186,568,790.11 RMB, resulting in a cash dividend ratio of 126.39%[187] Financial Management - The company has established a comprehensive internal control system in accordance with relevant regulations to promote sustainable development[190] - The company has enhanced its management control over subsidiaries, ensuring compliance with governance structures and financial management[190] - The company has established a financial shared service center to enhance operational efficiency and control capabilities across subsidiaries[191] - The company has implemented a comprehensive internal control system, including monthly risk inspections and a semi-annual reporting mechanism[191] Risks and Challenges - The company faces risks from intense competition in the organic pigment industry, with many small enterprises leading to product homogeneity and market pressure[136] - The company’s raw material costs account for over 70% of its main business costs, making it vulnerable to fluctuations in raw material prices[138] - The company exports primarily in USD, making it susceptible to exchange rate fluctuations that could impact revenue and profit[139] - The company is entering the new energy sector, which presents operational uncertainties due to differences in market environment and technology compared to its current business[143] - The company has not yet secured long-term stable customer resources for battery-grade lithium carbonate, indicating significant market development risks in its new business[144]