ST升达(002259) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥732,549,585.35, a decrease of 5.90% compared to ¥778,440,862.03 in 2023[19] - The net profit attributable to shareholders for 2024 was ¥11,998,664.01, a significant increase of 1,190.67% from a loss of ¥1,100,118.14 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥51,053,051.05, up 187.30% from ¥17,769,853.13 in 2023[19] - The basic earnings per share for 2024 was ¥0.0159, compared to a loss of ¥0.0015 in 2023, marking a 1,160.00% increase[19] - The total assets at the end of 2024 were ¥902,917,385.86, reflecting a 1.08% increase from ¥893,248,683.31 at the end of 2023[19] - The net assets attributable to shareholders increased by 3.87% to ¥254,545,412.70 at the end of 2024 from ¥245,067,037.87 at the end of 2023[19] - The cash flow from operating activities was ¥112,521,218.96, a decrease of 7.82% compared to ¥122,072,564.54 in 2023[19] - The company achieved a gross profit margin of 17.91% in the gas industry, an increase of 3.98% year-on-year[43] - LNG processing fees generated ¥147,241,868.50, with a gross margin of 45.56%, reflecting a 3.46% increase compared to the previous year[43] Legal and Compliance Issues - The company continues to face significant legal risks due to fund occupation issues by the original controlling shareholder, which are expected to persist into 2025[3] - The company has faced issues with the use of raised funds, as funds in the special account were directly seized by creditors due to debt issues[64] - The company is involved in multiple lawsuits, with a total of 370 cases currently in progress, including 269 cases related to securities false statements, where the company has been ordered to bear compensation responsibilities[154] - The company has ongoing litigation with a total of 1,420.02 million in other lawsuits, which are still under trial and have not reached disclosure standards[155] - The company has a pending lawsuit with a claim amount of 50,670.3 million related to a pledge contract dispute, with the first instance ruling rejecting all claims from Guizhou Zhonghongda[155] Operational Highlights - The company aims to enhance its core competitiveness through refined management practices and optimizing production processes to achieve cost efficiency[34] - The company’s LNG processing and sales are influenced by international LNG prices and demand from the transportation sector, which is expected to drive revenue growth in 2024[32] - The urban gas business revenue is primarily affected by government price controls and raw material gas procurement costs, which are critical for maintaining profit margins[33] - The company plans to optimize its operating model and strengthen upstream and downstream cooperation to enhance profitability in 2025[144] Governance and Management - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, enhancing operational standards and ensuring investor protection[81] - The company has no controlling shareholder, ensuring independent operation of the board and supervisory committee[82] - The board consists of nine members, including three independent directors with expertise in finance, law, and gas sectors, complying with legal requirements[83] - The company has implemented a transparent performance evaluation and incentive mechanism for executives, promoting accountability[84] - The company has not reported any changes in the positions of directors, supervisors, or senior management during the reporting period[92] Risk Management - The company recognizes potential risks, including policy risks related to macroeconomic policies and safety risks associated with gas facilities[75][76] - The company has established a comprehensive risk management system to strengthen financial control and budget management[74] - The company has engaged in investor communication activities to address concerns regarding its operational status and potential risks[77] Environmental and Social Responsibility - The company has invested 50,000 yuan in public welfare for greening and tree planting initiatives in 2024[135] - The company has actively supported local cultural activities and donated supplies to community organizations[135] - The company has established effective environmental protection facilities, including waste gas treatment and sewage processing systems[126][127] - The company has no record of administrative penalties due to environmental issues during the reporting period[126] Shareholder Information - The total number of shareholders at the end of the reporting period is 14,344, an increase from 14,296 in the previous month[183] - The largest shareholder, Huabao Trust, holds 28.33% of the total shares, amounting to 213,115,525 shares[183] - The company has not conducted any share repurchase transactions during the reporting period[184] - There are no restricted shares held by state-owned entities or foreign investors, indicating a complete absence of limited shares[181] Financial Obligations - As of December 31, 2024, the company had interest-bearing liabilities totaling 262 million yuan, with overdue debts amounting to 119 million yuan[197] - The company has estimated liabilities totaling 280 million yuan due to various legal disputes, including 128 million yuan related to a lawsuit with Chengdu Rural Commercial Bank[198] - The audit opinion indicated a significant uncertainty regarding the company's ability to continue as a going concern due to its financial obligations[196]