Financial Performance - The company's operating revenue for 2024 was ¥649,266,065.11, representing a 7.19% increase compared to ¥605,703,563.29 in 2023 [18]. - The net profit attributable to shareholders for 2024 was ¥59,924,716.94, a 14.56% increase from ¥52,309,731.26 in 2023 [18]. - The basic earnings per share for 2024 was ¥0.60, up 15.38% from ¥0.52 in 2023 [18]. - Total assets at the end of 2024 were ¥1,386,078,522.05, a 2.41% increase from ¥1,353,476,384.29 at the end of 2023 [18]. - The gross profit margin for the chemical raw materials and chemical products manufacturing industry was 33.24%, an increase of 0.71% compared to the previous year [67]. - The company achieved a total operating revenue of ¥649,266,065.11, representing a year-on-year increase of 7.19% [62]. - The net profit attributable to shareholders was ¥59,924,716.94, up 14.56% compared to the previous year [62]. - The total sales revenue from domestic operations was ¥647,383,965.34, with a gross profit margin of 33.25% [67]. Dividend Distribution - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders, based on a total of 100,000,000 shares [4]. - The company distributed a cash dividend of 0.8 yuan per 10 shares for the 2023 fiscal year, totaling 7,886,035.60 yuan [183]. - For the 2024 interim profit distribution, the company plans to distribute a cash dividend of 0.5 yuan per 10 shares, totaling 4,928,772.25 yuan [184]. - The total distributable profit for the parent company at the end of 2024 is 184,214,830.35 yuan, after accounting for dividends paid and statutory reserves [186]. Business Operations - The company operates in the pesticide manufacturing sector, classified under C263 of the chemical raw materials and chemical products manufacturing industry [4]. - The company has not reported any changes in its main business since its listing [15]. - The company has subsidiaries including Shaanxi Shangge Road Biological Science Co., Ltd. and Xinjiang Norsyn Crop Technology Co., Ltd. [9]. - The company has a registered address in Xi'an, Shaanxi Province, and has maintained this address since its listing [12]. - The company’s fiscal year runs from January 1 to December 31 [9]. - The company has a commitment to environmental and social responsibility, as outlined in its annual report [5]. Research and Development - The company has increased its R&D investment and personnel in recent years, aiming to improve product market share through continuous technological advancements [45]. - The number of R&D personnel increased to 65 in 2024, up 18.18% from 55 in 2023 [78]. - R&D investment amounted to ¥40,605,335.37 in 2024, reflecting a 2.42% increase from ¥39,644,193.81 in 2023 [79]. - The company is focusing on expanding its competitive advantages in pest control through innovative product formulations [77]. - The company is developing a more efficient and safer pesticide for cotton aphids, aiming to enhance market share in this segment [77]. Market Position and Strategy - The company ranked 27th in the pesticide formulation industry sales according to the 2024 Pesticide Industry Formulation Sales TOP100, indicating a strong market position [45]. - The company is actively pursuing international market expansion and technological collaboration to enhance its global competitiveness [44]. - The company is focusing on building a stable supply chain advantage by developing the first phase of its pesticide raw material production line [115]. - The company is exploring the use of novel active ingredients to enhance the efficacy of its pest control products [77]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the technology sector [160]. Environmental and Regulatory Compliance - The company is responding to higher environmental requirements and opportunities for innovation in the pesticide sector due to government policies promoting green development [29]. - The implementation of new water pollution discharge standards for the pesticide industry is expected to strengthen environmental risk prevention and promote green transformation [32]. - The government is enhancing regulatory support for the pesticide industry, promoting green and sustainable development through stricter production licensing and environmental standards [39]. - Regulatory changes in the pesticide industry may increase operational challenges and costs, necessitating careful management of compliance risks [123]. Corporate Governance - The company has held five shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements for governance [129]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal requirements [131]. - The company maintained strict compliance with information disclosure regulations, ensuring accurate and timely reporting [137]. - The company has established a complete independent management system for procurement, production, sales, and R&D [142]. - The company’s audit committee supervises the internal audit system and reviews audit plans and reports [194]. Employee Management and Development - The total number of employees at the end of the reporting period is 699, with 168 in the parent company and 531 in major subsidiaries [177]. - The company has established a comprehensive training system, conducting over 100 training sessions during the reporting period to enhance employee skills and management capabilities [180]. - The company emphasizes a fair and reasonable compensation mechanism, aligning employee salaries with local average wage levels and company performance [179]. - The educational background of employees shows that 388 have an associate degree or below, 251 hold a bachelor's degree, 59 have a master's degree, and 1 has a doctoral degree [178]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies [157]. - The company plans to enhance its product development by increasing R&D investment to create more impactful products in the market [111]. - Market expansion plans include entering three new regional markets by Q3 2024, aiming to increase market share by 10% [159]. - The company is investing in R&D for new technologies, with a budget allocation of $10 million for the upcoming year [158].
农心科技(001231) - 2024 Q4 - 年度财报