雪榕生物(300511) - 2024 Q4 - 年度财报

Financial Performance - In 2024, the company achieved operating revenue of 2,162.45 million yuan, a year-on-year decrease of 15.70%, and reported a net loss attributable to shareholders of 617.07 million yuan[5]. - The main reason for the loss was the weak overall consumer market, intense competition in the edible mushroom industry, and a decrease in product prices due to supply-demand imbalance[5]. - The company's operating revenue for 2024 was ¥2,162,449,367.04, a decrease of 15.70% compared to ¥2,565,144,194.86 in 2023[36]. - The net profit attributable to shareholders for 2024 was -¥617,070,813.21, representing a decline of 228.12% from -¥188,062,576.34 in 2023[36]. - The total assets at the end of 2024 were ¥3,854,555,536.98, down 16.24% from ¥4,602,166,751.34 at the end of 2023[36]. - The total equity attributable to shareholders decreased by 39.62% to ¥938,628,711.97 at the end of 2024 from ¥1,554,529,572.05 at the end of 2023[36]. - The company has reported a negative net profit for the most recent fiscal year, indicating ongoing financial challenges[37]. - The gross profit margin for the edible mushroom industry decreased to 2.31%, down 4.98% year-over-year[72]. Production and Capacity - The company continues to focus on the research and development, cultivation, and sales of fresh edible mushrooms, including varieties such as enoki mushrooms and shiitake mushrooms[6]. - As of 2024, the total production capacity of the edible mushroom industry in China exceeded 10,000 tons per day, with enoki mushrooms accounting for 50.68% of the production capacity among the top five varieties[8]. - The company has a daily production capacity of 1,680 tons of edible mushrooms, with 1,275 tons of that being enoki mushrooms, leading the industry in China[50]. - The company has established eight major production bases in China and a production base in Thailand, indicating a strategic national and international expansion[50]. Market Strategy and Competition - The company plans to strengthen marketing efforts and improve product quality to maintain market share amid increasing competition and declining prices[12]. - The overall consumption market in 2024 is expected to remain weak, leading to intensified competition and supply-demand imbalance in the edible mushroom industry[58]. - The company has implemented a sales model primarily through distributors, with a focus on direct sales to supermarkets and fresh food delivery platforms[58]. - The company plans to pause large capital expenditures and focus on stabilizing production and sales in response to market conditions[68]. Research and Development - The company has been selected as a key laboratory for mushroom strain research by the Ministry of Agriculture and Rural Affairs, highlighting its technological leadership[66]. - The company owns 45 patents, including 13 invention patents, and has been recognized as a key enterprise in agricultural industrialization[66]. - The company is focused on maintaining strict control over food safety throughout the entire production and distribution process[21]. Financial Management and Governance - The company is initiating a stock issuance project in March 2025 to enhance its debt repayment capacity and provide sufficient funding for future operations[11]. - The company has established a comprehensive food safety management system to mitigate food safety risks associated with raw material procurement and distribution[21]. - The company has a dedicated financial accounting department and an independent financial decision-making system, ensuring financial autonomy[116]. - The company has a strategic committee that reviews major investment and financing plans, ensuring due diligence in capital operations[111]. Employee and Talent Management - The total number of employees at the end of the reporting period is 2,112, with 1,292 in production, 447 in technical roles, and 77 in sales[146][147]. - The company has established a dual-channel talent development system, focusing on both general and elite talent training[150]. - The company has implemented various training programs, including new employee orientation and professional skills training, to enhance employee capabilities[150]. Social Responsibility and Environmental Commitment - Snow Rong Bio actively engages in social responsibility initiatives, including participation in poverty alleviation and community development projects[170]. - The company has been recognized for its contributions to poverty alleviation, receiving awards for its efforts in building mushroom precision poverty alleviation industrial parks[170]. - The company’s environmental management system meets relevant standards and regulatory requirements, ensuring effective control[168]. Shareholder Commitments and Rights - The company commits to repurchase all newly issued shares if it fails to fulfill its obligations, with the repurchase price determined by the higher of the issuance price or the secondary market price[173]. - The company will disclose any failure to fulfill commitments and the reasons for such failures in a timely manner[175]. - The commitments made by the company will take effect immediately upon signing and cannot be changed or revoked unless there are changes in relevant laws or regulations[176].