FLARIANT(SH:605566)2025-04-27 08:20Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of CNY 22,018,401.91 for the fiscal year 2024[7]. - The cumulative undistributed profits of the parent company as of December 31, 2024, amounted to CNY 217,364,610.55[7]. - The proposed cash dividend is CNY 1.00 per 10 shares, totaling CNY 13,032,790.00, which represents 59.19% of the net profit for the year[7]. - The company's operating revenue for 2024 was approximately ¥965 million, representing a 5.30% increase compared to ¥916 million in 2023[25]. - Net profit attributable to shareholders decreased by 23.48% to approximately ¥22 million in 2024 from ¥28 million in 2023[25]. - The net profit after deducting non-recurring gains and losses fell by 47.89% to approximately ¥13.68 million in 2024, down from ¥26.25 million in 2023[25][27]. - Basic earnings per share decreased by 22.73% to ¥0.17 in 2024 from ¥0.22 in 2023[26]. - The weighted average return on equity decreased by 0.34 percentage points to 1.10% in 2024 from 1.44% in 2023[26]. - Total assets decreased by 8.94% to approximately ¥2.55 billion in 2024 from ¥2.81 billion in 2023[25]. Cash Flow and Dividends - The net cash flow from operating activities increased significantly by 114.25% to approximately ¥174 million in 2024, compared to ¥81 million in 2023[25][27]. - The company plans to maintain the cash distribution amount per share unchanged, with adjustments to the total distribution amount if there are changes in the share capital before the dividend record date[7]. - The company has established a cash dividend policy aiming for a minimum of 10% of the distributable profit to be distributed as cash dividends annually[168]. - The company plans to distribute cash dividends at least once a year, with a minimum of 80% of the profit distribution allocated to cash dividends if in a mature stage without major capital expenditures[169]. - The cash dividend represents 59.19% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was RMB 22,018,401.91[178]. - The total cash dividend amount, including share repurchases, reached RMB 37,558,829, accounting for 170.58% of the net profit attributable to ordinary shareholders[178]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) was RMB 33,700,490, with an average net profit of RMB 31,544,907.13, resulting in a cash dividend ratio of 106.83%[180]. - The company has not made any changes to its cash dividend policy during the reporting period[174]. Operational Challenges - The company faced challenges in the photovoltaic industry, leading to increased impairment provisions for related assets[27]. - The company is facing challenges from strict environmental regulations and rising raw material prices, impacting profitability[40]. - The company faced challenges in its photovoltaic film segment, with a subsidiary ceasing operations due to market conditions[53]. - The solar cell encapsulation film business has not met expectations due to industry demand issues, leading to temporary production halts[115]. - The solar photovoltaic encapsulation film business is subject to seasonal demand fluctuations and raw material price volatility, impacting performance[127]. Research and Development - The company plans to continue increasing R&D investment to launch more high-performance, environmentally friendly dye products[37]. - The company increased its R&D investment, with R&D expenses rising by 15.59% to 41.61 million RMB[55]. - The company is developing new environmentally friendly dyes that comply with EU REACH certification to meet market demands[52]. - The company has established a large color formula database in its R&D center, enabling rapid provision of suitable dye products and complete production process solutions[90]. - The company holds 61 patents, including 34 invention patents, and has established long-term cooperative relationships with Zhejiang University and Zhejiang University of Technology for continuous R&D improvement[92]. - R&D investment will continue to be a priority, focusing on high-end dye products and improving dye performance recognition among customers[118]. Market and Production - The company achieved total revenue of 965 million yuan, a year-on-year increase of 5.30%, with sales of high wash fastness and high light fastness dyes increasing by 21.61%[36]. - The company produced 6.5474 million square meters of photovoltaic film and sold 10.2937 million square meters, reducing some inventory pressure[37]. - The company has a dye production capacity of 24,000 tons, focusing on high wash fastness and high light fastness dyes[45]. - The company is focusing on expanding its market presence in Southeast Asia, leading to growth in export business[52]. - The company is actively expanding its dye business while exploring other business opportunities, maintaining a high proportion of direct sales in its sales model[89]. Environmental Compliance - The company invested RMB 3,608.49 million in environmental protection during the reporting period[185]. - The company operates 19 waste gas discharge outlets, with various pollutants treated and discharged in compliance with environmental standards[187]. - The actual SO2 emissions for the company were 0.037 tons, compared to the total allowable emissions of 8.295 tons per year, indicating compliance with emission standards[188]. - The actual COD emissions for the company were 7.029 tons, with a total allowable limit of 10.72 tons per year, also showing compliance[189]. - The company has received pollution discharge permits from the local environmental authority, ensuring compliance with environmental regulations[194]. - The company has implemented a self-monitoring plan for pollution emissions, ensuring compliance with environmental management requirements[199]. Governance and Management - The company held one annual shareholders' meeting during the reporting period, ensuring compliance with legal requirements[130]. - The board of directors consists of 9 members, including 3 independent directors, adhering to legal and regulatory standards[131]. - The company plans to continue strengthening its internal control systems and improving management levels as part of its governance structure[138]. - The independent directors' performance reports for 2023 were also approved during the shareholders' meeting, reflecting ongoing governance practices[139]. - The company has not faced any major changes in competition or business operations from its controlling shareholders[138]. - The total remuneration for the chairman during the reporting period was approximately 106.04 million yuan[141]. Strategic Initiatives - The company plans to invest a total of 4,519.50 million RMB in the construction of new production lines, with an expected design capacity of 6,000 million square meters to be operational by September 2025[83]. - The company is considering strategic acquisitions to bolster its product line, with a budget of $100 million allocated for potential deals[144]. - The company plans to apply for a bank credit limit for the year 2024, indicating plans for potential expansion[139]. - The company is set to establish a venture capital fund as part of its investment strategy[156]. - The company is adapting to industry policies promoting green, low-carbon, and digital transformation in the chemical sector[84].