LETS(SZ:002398)2025-04-25 10:05Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.80 RMB per 10 shares to all shareholders, with no bonus shares issued[5]. - The company reported a net profit attributable to shareholders of RMB 49,262,122.46 for the fiscal year 2024, with the parent company's net profit at RMB 1,117,375.73[141]. - The total distributable profit available for shareholders as of December 31, 2024, is RMB 86,368,365.30, after accounting for the cash dividends distributed in 2023[141]. - The company plans to distribute a cash dividend of RMB 0.80 per 10 shares (including tax), with a total cash dividend amounting to RMB 55,061,095.68, representing 100% of the profit distribution[138][141]. - The company did not propose any stock dividends or capital reserve transfers during the reporting period[138]. Financial Performance - The company's operating revenue for 2024 was ¥2,617,049,228.52, a decrease of 14.43% compared to ¥3,058,207,699.17 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥49,262,122.46, down 68.99% from ¥158,882,400.88 in 2023[22]. - The cash flow from operating activities for 2024 was ¥334,123,269.90, a decline of 23.60% from ¥437,322,778.88 in 2023[22]. - Basic earnings per share for 2024 were ¥0.07, a decrease of 68.18% from ¥0.22 in 2023[23]. - Total assets at the end of 2024 were ¥5,976,815,647.94, down 7.66% from ¥6,472,391,212.93 at the end of 2023[23]. - The company reported a weighted average return on equity of 1.36% for 2024, down from 4.29% in 2023[23]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥26,845,099.39, a decrease of 77.95% from ¥121,773,135.73 in 2023[22]. - The company experienced a significant decline in quarterly net profit, with a loss of ¥46,657,509.51 in Q4 2024[27]. Risk Management - The company acknowledges various risks including market conditions, raw material price fluctuations, labor costs, industry competition, and international environment risks[5]. - The company has a comprehensive risk management strategy to address potential market and operational risks[5]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as the net profit for the most recent accounting year was negative[23]. Market and Industry Outlook - The company’s future outlook includes a focus on market expansion and potential mergers and acquisitions[5]. - The third-party testing market in China reached a scale of 232.6 billion RMB in 2021, with a projected growth to 300 billion RMB by 2024, representing a year-on-year increase of approximately 15%[33]. - The projected market size for the third-party testing industry in China is expected to reach 537.44 billion RMB by 2027[33]. - The construction materials industry is expected to grow by about 5%-6% in 2024, driven by green materials and smart construction, despite overall profit pressure due to real estate investment decline[93]. Research and Development - The company has a strong focus on innovation, aiming to develop high value-added products and enhance its core competitiveness through technological advancements[37]. - The company’s research and development base spans 37 acres with a building area of nearly 20,000 square meters, supporting a professional research team of hundreds[40]. - The company added 156 new technology projects and received 4 technology awards during the reporting period, bringing the total technology awards to 81[47]. - The number of authorized effective patents increased from 645 to 701, with 56 new patents granted in the reporting period[48]. - The company is actively investing in new product development and technology, aiming to launch at least three new products by the end of 2024[118]. Corporate Governance - The company emphasizes the importance of accurate financial reporting and compliance with regulatory standards[5]. - The company has established and revised various governance systems, ensuring compliance with relevant laws and regulations since its listing[105]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements for composition[107]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance, with no non-operating fund transfers reported[107]. - The company has implemented a comprehensive investor relations management system to ensure fair treatment of all shareholders[109]. Environmental Compliance - The company has obtained various environmental permits, including a pollution discharge permit valid until July 8, 2028, for its subsidiary in Fujian[162]. - The company reported a nitrogen oxide emission concentration of 40.2 mg/m³ and sulfur emission concentration of 3 mg/m³, complying with the respective standards[166]. - The company has no instances of exceeding the pollutant discharge limits as per the environmental compliance reports[166]. - The company is committed to environmental compliance through regular monitoring and adherence to national standards across various pollutants[185]. - The company has set a target for reducing overall emissions by 10% in the next fiscal year[171]. Strategic Initiatives - The company aims to enhance its market share in the concrete additives sector, focusing on regions such as the Yangtze River Delta and Pearl River Delta, while also expanding into overseas markets[96]. - The company plans to leverage artificial intelligence to improve testing efficiency and expand into the automotive sector through partnerships with authorized third-party laboratories[96]. - The company is committed to developing low-carbon additive solutions and achieving commercialization, aligning with national infrastructure development initiatives[98]. - The company’s fifth five-year development plan emphasizes "technology-driven + globalization" to achieve high-quality growth and international expansion[94]. Employee Management - The total number of employees at the end of the reporting period was 2,307, with 579 production personnel, 359 sales personnel, and 841 technical personnel[133][134]. - The total employee compensation accounted for 6.56% of the company's operating costs during the reporting period[135]. - The company has a well-defined human resources management system to support its independent operations[110]. - The company plans to conduct various training programs in 2025, including micro-courses and cross-department training, to improve management skills[136]. Financial Management - The company has established a comprehensive and independent financial management system, allowing for effective control over subsidiaries and branches[111]. - The company reported a total revenue of approximately 1,724.67 million for the year, with a significant increase in user data and market share in the new materials sector[92]. - The company is committed to maintaining a strong balance sheet, with a target debt-to-equity ratio of below 0.5 by the end of 2024[119]. Stock Management - The company has implemented a restricted stock incentive plan, granting 10,595,000 shares to 66 individuals as part of its 2020 plan[143]. - The company has conducted buybacks of unvested restricted stocks totaling 2,869,200 shares due to unmet vesting conditions[145]. - The company’s stock repurchase actions reflect its commitment to maintaining shareholder value and managing equity effectively[153].