FUJIAN JINSEN(002679)2025-04-25 12:30Financial Performance - The company's operating revenue for 2024 was ¥150,722,798.06, representing a 2.08% increase compared to ¥147,650,078.15 in 2023[20] - Net profit attributable to shareholders for 2024 was ¥10,410,990.25, a 30.03% increase from ¥8,006,342.42 in 2023[20] - The net profit after deducting non-recurring gains and losses was ¥12,399,549.50, up 74.97% from ¥7,086,612.25 in 2023[20] - The net cash flow from operating activities increased by 10.04% to ¥77,039,327.94 from ¥70,008,582.04 in 2023[20] - Basic earnings per share for 2024 were ¥0.04, a 33.33% increase from ¥0.03 in 2023[20] - Diluted earnings per share also stood at ¥0.04, reflecting a 33.33% increase compared to ¥0.03 in 2023[20] - The company achieved total revenue of ¥150,722,798.06, representing a year-on-year increase of 2.08%[42] - The net profit attributable to the parent company was ¥10,410,990.25, reflecting a year-on-year increase of 30.03%[42] - The company reported a total revenue of 12.4 million with a net profit of 5.54 million during the reporting period[79] - The company reported a total revenue of 1,486.21 million CNY for the fiscal year 2024, reflecting a significant performance in its core business operations[195] Cash Flow and Investments - The company reported a significant decrease in cash and cash equivalents, with a net decrease of CNY 72,225,501.75, a decline of 151.24% year-on-year[59] - Cash paid for purchasing goods and services decreased by 54.55% to ¥47,973,378.47, mainly due to a slight reduction in payments for timber asset procurement[61] - Cash outflow from investment activities totaled ¥19,466,062.92, an increase of 348.57% year-on-year, primarily due to increased purchases of fixed and intangible assets[63] - The company received cash from investments amounting to ¥4,000,000.00, a 100.00% increase year-on-year, due to investments from joint ventures[63] - The company reported an investment of ¥16,000,000.00 during the reporting period, a 14.29% increase from ¥14,000,000.00 in the same period last year[72] Operational Highlights - The company has not made any changes to its main business operations during the reporting period[19] - The company has not required any retrospective adjustments or restatements of previous years' accounting data[20] - The company completed a total afforestation area of 12,205 acres during the reporting period[42] - The total volume of timber harvested was 12.17 million cubic meters, with a total area of 11,851 acres for timber production[42] - The company’s forestry business accounted for 98.21% of total revenue, while forestry technology services contributed 1.47%, showing an 85.46% increase year-on-year[45] Sustainability and Environmental Initiatives - The company is actively exploring carbon sink projects, contributing to national carbon neutrality goals and creating new profit growth points[33] - The company is focused on sustainable forestry practices, aligning with national policies aimed at ecological protection and resource management[30] - The company has signed carbon sink cooperation agreements for bamboo forests covering approximately 240,000 acres with 11 townships and the Longqishan Management Bureau[138] - The company has collaborated on afforestation projects with villages, covering an area of 8,289 acres[138] - The company plans to employ one laborer from a former impoverished household, with a salary of CNY 24,000 for the year 2024[138] Governance and Compliance - The governance structure complies with relevant regulations, ensuring independent operation from the controlling shareholder[87] - The board of directors consists of 9 members, including 3 independent directors, and operates under strict compliance with relevant laws and regulations[88] - The company maintains complete independence from its controlling shareholders in terms of business, personnel, assets, and finance, ensuring autonomous operations[90] - The company has established a comprehensive and independent financial accounting system, with a dedicated financial department and independent bank accounts[91] - The company received a warning from the China Securities Regulatory Commission on July 5, 2024, regarding compliance issues[106] Employee and Management Structure - The total number of employees at the end of the reporting period is 206, with 73 in the parent company and 133 in major subsidiaries[121] - The professional composition includes 82 production personnel, 11 sales personnel, 68 technical personnel, 11 financial personnel, and 34 administrative personnel[121] - The company follows a fair and efficient salary management policy, linking compensation to performance assessments[122] - The company has established a systematic training mechanism to improve employee skills and quality[123] - The company has 115 retired employees for whom it bears costs[121] Profit Distribution and Dividends - The company implemented a cash dividend policy, distributing at least 35% of the distributable profits as cash dividends, with a total cash dividend amount of ¥8,628,669.60 for the reporting period[128] - The total distributable profit for the company at the end of the period was ¥139,054,891.37, with cash dividends accounting for 100% of the profit distribution[128] - The company extracted 10% of the net profit to allocate to the statutory surplus reserve, amounting to ¥2,110,840.82[128] - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[129] - The company maintained a stable and sustainable profit distribution policy, emphasizing reasonable returns to investors while considering future investment opportunities[125] Related Party Transactions and Commitments - The company has committed to minimizing and avoiding related party transactions with its subsidiaries, ensuring that any unavoidable transactions are conducted at fair market prices[144] - The company has pledged to avoid any actions that could harm the interests of its shareholders through related party transactions[144] - The company guarantees that if the actual managed forest area exceeds 26,000 mu or if more than 7,630 mu is registered under the issuer's name but essentially belongs to collective or private ownership, it will compensate for any losses incurred by the issuer[146] - The company has established a commitment to ensure that related party transactions are documented through written contracts and comply with relevant laws and regulations[144] - The company will ensure that any business opportunities that may constitute competition with its subsidiaries will be offered to them without charge[143] Audit and Internal Control - The audit opinion issued by the accounting firm confirmed that the financial statements fairly represent the company's financial position and results of operations for the year ended December 31, 2024[192] - The internal control system was effectively implemented, with no significant deficiencies reported, ensuring compliance with relevant laws and regulations[130] - The internal control audit report concluded that the company maintained effective financial reporting internal control as of December 31, 2024[134] - The company communicated with governance regarding the planned audit scope, timing, and significant findings, including identified internal control deficiencies[199] - The management is responsible for ensuring the financial statements are free from material misstatement due to fraud or error, emphasizing the importance of internal controls[197]