XILONG SCIENTIFIC(002584)2025-04-25 16:40Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the last fiscal year[13]. - The company's operating revenue for 2024 reached ¥7,816,465,794, representing a 10.22% increase compared to ¥7,091,743,412 in 2022[18]. - Net profit attributable to shareholders was ¥61,773,364.9, an 85.24% increase from ¥33,347,824.3 in 2023[18]. - The net profit after deducting non-recurring gains and losses was ¥74,680,604.3, showing a significant increase of 159.62% from ¥28,764,969.0 in 2023[18]. - The net cash flow from operating activities was ¥302,163,807, a 206.13% increase compared to -¥284,714,593 in 2023[18]. - The company's revenue for 2024 reached approximately ¥7.82 billion, representing a year-on-year growth of 10.22% compared to ¥7.09 billion in 2023[58]. - Net profit attributable to shareholders increased by 85.24% year-on-year, driven by improved product structure and quality enhancements[51]. - The gross margin for electronic chemicals improved, with the annual sales volume of acetonitrile series products increasing by over 50% due to successful expansion projects[51]. - Sales revenue from specialized chemicals grew by 71.34% year-on-year, contributing significantly to overall revenue growth[59]. Investment and R&D - The company has invested in R&D for new products, with a budget allocation of 10 million RMB for the upcoming year[12]. - Research and development expenses increased by 14.84% to ¥109,902,730.43, indicating a focus on innovation and product development[70]. - The company is focusing on developing new products, including a new etching solution for dual-layer copper metal wiring, which has been completed and aims to enhance market share in electronic chemicals[71]. - A new environmentally friendly high-purity potassium persulfate production process has been developed, targeting the nitrogen removal market, with the project also completed[72]. - The company is developing a micro-reactor for the continuous production of uniform nano-silver, addressing issues of poor dispersion and irregular particle size in existing technologies[77]. - The company is committed to reducing environmental pollution through improved nitrogen oxide purification technologies[75]. Market Expansion and Strategy - The company is focusing on expanding its market presence, particularly in the electronic chemicals sector, which is expected to grow by 20% annually[12]. - The company has established a new subsidiary in Yunnan to enhance its production capabilities and market reach[12]. - The company has a well-established market network, achieving coverage in major domestic cities and expanding into Southeast Asia[49]. - The company aims to enhance its product offerings and service integration to gain a competitive edge, focusing on high brand recognition and comprehensive support services[105]. - The company plans to increase the proportion of high value-added products and improve automation and digitalization to enhance production efficiency and quality control[107]. Risk Management - The company has identified key risks in its operations, including supply chain disruptions, and has outlined mitigation strategies[5]. - The company continues to engage in hedging activities to mitigate price volatility risks associated with raw materials, ensuring stable operations[94]. - The company has established a comprehensive risk management framework for its hedging operations, including market, systemic, technical, operational, and credit risks[95]. - The company faces macroeconomic risks, including potential profit declines and inventory buildup if domestic economic growth slows[108]. - Safety production risks are a concern due to the hazardous nature of chemical products, and the company is enhancing safety measures and training to mitigate these risks[109]. - Environmental risks are heightened due to stricter regulations, prompting the company to adjust its product structure and optimize production processes for energy conservation and emission reduction[111]. Corporate Governance - The company has conducted multiple shareholder meetings to ensure compliance with legal regulations and enhance shareholder engagement[119]. - The sixth board of directors consists of nine members, including three independent directors, and held a total of 8 meetings during the reporting period[120]. - The company emphasizes accurate and timely information disclosure, with the chairman bearing primary responsibility for disclosure matters[125]. - The company maintains independence in its main business operations, including chemical reagent R&D, production, and sales, without reliance on controlling shareholders[127]. - The company has established a complete and independent personnel management system, ensuring that key management personnel do not hold positions in controlling shareholder entities[128]. Environmental Compliance - The company has implemented strict adherence to environmental protection laws, achieving 100% compliance in pollutant discharge[178]. - The wastewater treatment facility of Xilong Science has a designed capacity of 192 tons/day, achieving an effluent concentration of 21.75 mg/L for COD[181]. - The company has invested in environmental protection facilities, with Xilong Science investing 255 units, Foshan Xilong investing 86 units, and Sichuan Xilong investing 43 units for maintenance and updates[185]. - The company has successfully completed its annual emission reduction tasks as per regulations[185]. - The company was recognized as a "Good Environmental Enterprise" by the Sichuan Provincial Ecological Environment Department for the year 2023[188]. Employee Management - The total number of employees at the end of the reporting period is 1,173, with 487 in the parent company and 686 in major subsidiaries[162]. - The professional composition includes 466 production personnel, 266 sales personnel, 145 technical personnel, 58 financial personnel, and 238 administrative personnel[162]. - The company implements annual performance evaluations to determine salary adjustments and bonuses, promoting a performance-driven culture[163]. - The company has established special incentive plans aimed at motivating sales personnel and enhancing their potential[163]. - The training programs implemented during the reporting period aimed to enhance employee skills across various departments, including safety, management, and marketing[164]. Financial Management - The company has fully paid the remuneration for directors, supervisors, and senior management during the reporting period[149]. - The total pre-tax compensation for board members amounted to 5.6794 million yuan[150]. - The company plans to distribute a cash dividend of 0.2 RMB per 10 shares, totaling 11,704,328.44 RMB, based on a total share capital of 585,216,422 shares as of December 31, 2023[165]. - The cash dividend policies are in compliance with the company's articles of association and shareholder resolutions, ensuring clarity and transparency in the decision-making process[167]. - The company has established a comprehensive internal control system that adheres to relevant laws and regulations, with no significant deficiencies reported during the period[170].