SHENNONG TECHNOLOGY(SZ:300189)2025-04-25 18:05Financial Performance - The company reported a net loss of CNY 50.62 million for 2024, an increase in loss of 40.51% compared to the previous year[8]. - Total revenue for 2024 was CNY 156.51 million, down 6.13% from CNY 166.73 million in 2023[23]. - The net cash flow from operating activities decreased by 51.61% to CNY 6.66 million compared to CNY 13.76 million in 2023[23]. - The company's net assets attributable to shareholders decreased by 6.56% to CNY 720.58 million at the end of 2024[23]. - The basic earnings per share for 2024 was CNY -0.0494, a decline of 40.34% from CNY -0.0352 in 2023[23]. - The weighted average return on net assets was -6.79%, a decrease of 2.23 percentage points from -4.56% in 2023[23]. - The company reported a significant increase in non-operating income, with total revenue excluding non-recurring gains and losses at CNY 145.23 million for 2024[24]. - The company achieved a revenue of ¥156,511,955.11 in the reporting period, a year-on-year decrease of 6.13%[80]. - The net profit attributable to the parent company was -¥50,616,492.26, representing a year-on-year increase in loss of 40.51%[80]. - Revenue from the agriculture sector accounted for 96.70% of total revenue, totaling ¥151,353,016.19, down 5.61% year-over-year[98]. Operational Highlights - The company experienced inventory losses of CNY 9.71 million and fixed asset losses of CNY 0.39 million due to the impact of Typhoon "Mokha"[8]. - The company's total assets increased by 17.13% to CNY 1.17 billion at the end of 2024, up from CNY 1.00 billion at the end of 2023[23]. - The company's seed production volume for 2024 reached 4.6991 million kilograms, representing an increase of 11.51% compared to 2023[56]. - The total sales return amount for the top ten varieties of rapeseed was 12.9118 million yuan, while for rice it was 6.1171 million yuan[56]. - The company has been recognized as a key player in the seed industry, holding multiple certifications and honors, including being a key leading enterprise in agricultural industrialization[33]. Research and Development - The company is focusing on expanding its oilseed production, particularly in rapeseed, to address the national food security strategy, with a self-sufficiency rate of only 34.2% for edible oil[35]. - The company is accelerating its research and development in aquaculture, aligning with national policies to enhance protein supply through diversified food systems[36]. - The company's R&D investment for 2024 amounted to CNY 12.55 million, accounting for 9.39% of seed sales revenue[42]. - The company has established research centers for rice, rapeseed, corn, and miscellaneous grains, and has built molecular breeding laboratories[42]. - The company has developed its own core research teams and products, including series of rice and rapeseed brands, ensuring continuous market competitiveness[45]. Market Strategy - The company is implementing a dual-driven development strategy of "crop seed industry + aquatic seed industry" to enhance its market position[76]. - The company aims to enhance agricultural industrialization and sustainable practices, focusing on high-yield and high-quality seed breeding and commercialization[128]. - The company plans to leverage modern industrial technology to transform agricultural production and distribution models, aiming for a complete industry chain from "seed" to consumers[128]. - The company aims to enhance brand value and marketing efficiency by building a comprehensive sales network across China, focusing on high-end agricultural and aquatic products[136]. - The company plans to showcase at least 80 new oilseed rape varieties over an area of no less than 60 acres by 2025, aiming to enhance sales of the Qingyou series[109]. Governance and Compliance - The company has a governance structure that ensures independent decision-making and compliance with legal requirements, with a board consisting of 5 members, including 2 independent directors[149]. - The company has implemented a performance evaluation and incentive mechanism for senior management to ensure transparency and accountability[151]. - The company adheres to strict information disclosure regulations, ensuring timely and accurate communication with investors[153]. - The company has established a comprehensive internal control and management system to enhance governance standards in line with regulatory requirements[154]. - The company has established independent financial management systems and maintains a clear separation from the controlling shareholder in terms of assets and operations[160]. Employee and Management - The total number of employees at the end of the reporting period was 222, with 38 at the parent company and 184 at major subsidiaries[185]. - The professional composition of employees includes 43 production personnel, 31 sales personnel, 48 technical personnel, 19 financial personnel, and 81 administrative personnel[185]. - The educational background of employees shows 7 with a doctorate, 29 with a master's degree, 81 with a bachelor's degree, 44 with a college degree, and 61 with a high school education or below[186]. - The company has implemented a performance management mechanism to align employee performance with corporate strategic goals, promoting talent retention and attraction[187]. - The company has a diverse management team with extensive experience in various sectors, contributing to its strategic direction[176].