Greenda(SH:603931)2025-04-25 10:00Financial Performance - The company's operating revenue for 2024 was CNY 656,049,520.39, a decrease of 5.65% compared to CNY 695,326,649.73 in 2023[24]. - Net profit attributable to shareholders for 2024 was CNY 146,249,645.92, down 16.46% from CNY 175,071,418.70 in the previous year[24]. - Basic earnings per share for 2024 were CNY 0.73, a decline of 17.05% from CNY 0.88 in 2023[25]. - The company's total assets at the end of 2024 were CNY 1,729,696,951.59, reflecting a 3.07% increase from CNY 1,678,217,044.99 in 2023[24]. - The weighted average return on equity decreased to 9.63% in 2024, down from 12.48% in 2023, a reduction of 2.85 percentage points[25]. - The company reported a net profit of CNY 34,094,142.20 in Q1 2024, with a total operating revenue of CNY 170,730,723.91[28]. - In Q2 2024, the net profit attributable to shareholders was CNY 43,568,479.10, with operating revenue of CNY 174,386,270.04[28]. - The company recorded a net profit of CNY 35,311,879.62 in Q4 2024, with operating revenue of CNY 145,213,309.45[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 135.52 million yuan, a decline of 19.05% compared to the previous year[36]. - The company achieved operating revenue of 656.05 million yuan, a decrease of 5.65% compared to the same period last year[56]. - Net profit attributable to shareholders was 146.25 million yuan, down 16.46% year-on-year[56]. Dividend Distribution - The company plans to distribute a cash dividend of 2.20 RMB per 10 shares, totaling approximately 43.90 million RMB, representing a cash dividend payout ratio of 30.02% for the year 2024[6]. - The company plans to propose a three-year dividend distribution plan at the upcoming annual shareholders' meeting[126]. - The company plans to distribute a cash dividend of 2.65 RMB per 10 shares, totaling approximately 52,882,970.70 RMB (including tax), representing a cash dividend ratio of 30.21% for the year 2023[147]. Governance and Compliance - The company has received a standard unqualified audit report from the accounting firm, ensuring the accuracy and completeness of the financial report[5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance[4]. - The company has confirmed that there are no instances where more than half of the directors cannot guarantee the authenticity and completeness of the annual report[8]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring fair treatment of all shareholders, including minority shareholders[119]. - The board of directors consists of seven members, including three independent directors, ensuring a balanced and professional governance structure[120]. - The company has implemented measures to maintain the independence of its operations from its controlling shareholder, ensuring a complete business system and independent market operations[122]. - The company has established an independent financial department and accounting system, ensuring independent financial decision-making[123]. - The company has no shared bank accounts with controlling shareholders or related enterprises, maintaining its status as an independent taxpayer[123]. - The company has established a comprehensive internal control management system in compliance with relevant laws and regulations, enhancing decision-making efficiency[156]. Research and Development - The company is focusing on expanding its product matrix, particularly in TMAH developer and stripping solutions, to capture market opportunities[36]. - The company is actively involved in national projects related to integrated circuit manufacturing, achieving significant progress in the development of graphic developers for large-scale integrated circuits[38]. - The company is enhancing its digital transformation across the entire supply chain, including R&D, production, and sales, to improve operational efficiency[38]. - The company has successfully completed technology development and industrial application testing for high-purity developers in semiconductor applications[38]. - The company has developed an environmentally friendly production process for TMAH developer liquid, which avoids chlorine gas generation and reduces production costs[50]. - The company holds 10 invention patents and 10 utility model patents, demonstrating strong R&D capabilities[52]. - The company has established several research and development institutions, including a provincial-level enterprise research institute and a post-doctoral workstation[81]. - The company has a strong focus on R&D, holding multiple patents and being a member of various industry alliances[81]. - The company maintains a high level of R&D investment, with a focus on continuous improvement of innovation capabilities, leading to industry-leading core technologies in electronic-grade TMAH developer products[85]. Market and Industry Trends - The average capacity utilization rate in the new display industry is steadily increasing, indicating a positive market trend[35]. - The demand for wet electronic chemicals is anticipated to grow significantly due to the rapid development of downstream industries such as display panels and semiconductors[48]. - The company specializes in the R&D, production, and sales of ultra-pure wet electronic chemicals, with core products meeting SEMI G5 standards[49]. - The company is positioned to benefit from the growing demand for TMAH developer solutions in the display panel and semiconductor sectors, with significant market opportunities ahead[108]. - The competitive landscape in the high-end wet electronic chemicals market is primarily dominated by foreign companies, presenting a significant opportunity for domestic firms to capture market share[80]. - The company is collaborating with leading domestic chip manufacturers on the development of graphic developers for integrated circuits, currently in the acceptance phase[111]. Environmental and Safety Management - The company has invested RMB 941,900 in environmental protection during the reporting period[160]. - The company has been included in the list of key pollutant discharge units, with no instances of exceeding discharge limits reported for both air and water pollutants[161][163]. - The company has implemented effective internal control systems, achieving the expected goals and safeguarding the interests of the company and its shareholders[156]. - The company's environmental facilities effectively meet the requirements for wastewater, waste gas, noise, and solid waste treatment, with all emissions reaching relevant standards[167]. - The company has developed an emergency response plan for environmental incidents, enhancing its ability to manage environmental risks through training and regular drills[169]. - The company has adopted carbon reduction measures, including upgrading production facilities and optimizing processes to lower energy consumption and emissions[172]. Strategic Initiatives - The company is expanding its market presence in Asia, targeting a 20% market share in the region by the end of 2024[75]. - A strategic acquisition of a smaller tech firm was announced, expected to close by Q2 2024, which will enhance the company's capabilities in artificial intelligence[76]. - The company is exploring acquisition opportunities to enhance its product portfolio, targeting a deal worth approximately $200 million[128]. - The company is expanding its market presence through various strategic initiatives, including potential mergers and acquisitions[134]. - The company plans to expand its business layout and improve its marketing network to provide quality services to more customers[190]. Risks and Challenges - The company has a significant amount of accounts receivable, which may increase with revenue growth, posing risks to cash flow and financial stability if not managed properly[117]. - The company faces safety production risks due to the hazardous nature of some chemicals used, which could lead to accidents if not managed properly[113]. - Environmental risks are present due to the production process generating pollutants, necessitating ongoing investment in compliance with environmental regulations[113]. - The company is exposed to fluctuations in raw material prices, particularly for basic chemicals like dimethyl carbonate and trimethylamine, which could impact its gross profit margin[117]. - The company operates in a rapidly evolving industry, and failure to anticipate technological updates or market demands could hinder its product development and customer acquisition efforts[115].