Financial Performance - In 2024, the company's operating revenue was approximately ¥122.51 million, a decrease of 23.71% compared to ¥160.58 million in 2023[28] - The gross profit margin for 2024 was 24.98%, down from 27.28% in 2023[28] - The net profit attributable to shareholders was approximately -¥23.94 million, representing a significant decline of 1,045.71% compared to -¥2.09 million in 2023[28] - The weighted average return on net assets based on net profit attributable to shareholders was -7.84% in 2024, compared to -0.62% in 2023[28] - The basic earnings per share for 2024 was -0.22, a decrease of 1,000% from -0.02 in 2023[28] - Total assets decreased by 7.16% to 393.38 billion from 423.71 billion at the end of 2023[31] - Total liabilities decreased by 6.00% to 100.02 billion from 106.40 billion at the end of 2023[31] - Net profit attributable to shareholders decreased by 7.55% to 293.37 billion from 317.31 billion at the end of 2023[31] - Revenue for the year was 122.51 million, a slight decrease of 0.01% compared to the preliminary report[33] - Net profit attributable to shareholders was -23.94 million, a decrease of 3.08% from the preliminary report[33] Research and Development - The company obtained five utility model patents in 2024, including a non-contact intelligent defoaming device and a solid powder and water mixing dust purification recovery system[7] - Research and development expenses were ¥8,588,792.17, accounting for 7.01% of total revenue, down 16.29% from the previous year[56] - The company has increased its patent holdings to 38, up from 33 in the previous period, maintaining 14 invention patents[90] - The total number of R&D personnel decreased to 44 from 52, with R&D personnel representing 13.61% of the total workforce[89] - The company is in the pilot stage of developing a high-efficiency single-cell protein strain using methanol as a carbon source, which is expected to enhance product variety and economic benefits[92] - The company has completed the optimization of fermentation feed standards, which is anticipated to improve production processes and bring economic benefits[93] - A new strain of probiotic has been selected to inhibit the production of gas-producing Clostridium, aimed at reducing the incidence of related diseases in livestock, contributing to economic gains[93] - The company is conducting research on the fermentation process of Sichuan pepper seed meal, which is expected to optimize production and enhance product quality, leading to economic benefits[93] - The company has developed a functional probiotic capable of degrading harmful substances in aquaculture water, contributing to a healthier aquatic environment[93] Business Expansion and Strategy - The company established a wholly-owned subsidiary, Shanxi Dayu Animal Husbandry Co., Ltd., and completed the business registration on December 18, 2024[9] - The company established a wholly-owned subsidiary to extend its business into pig farming beyond its main business of feed and feed additives[43] - The company has expanded its foreign sales channels during the reporting period[43] - The company plans to launch four new product categories in the aquaculture sector by 2025, including water purification and ammonia reduction products, to meet the growing demand for enzyme products[104] - The company aims to enhance its sales strategy by focusing on regional feed brands and expanding into poultry and aquaculture markets, with a particular emphasis on differentiated product promotion[113] - The company will extend its industrial chain into pig farming to stabilize sales channels for feed and additives, aiming to create a closed-loop sales model and reduce production costs[111] - The company recognizes the risks posed by price fluctuations in the pig market and the potential impact of African swine fever on its business operations[116] Operational Efficiency - Operating cash flow increased by 139.41% to 18.39 million from 7.68 million in the previous year[32] - The total operating costs decreased by 21.29% to ¥91,912,539.65, reflecting the decline in sales revenue[56] - The company's management expenses increased by 26.36% to ¥24,924,712.00, primarily due to depreciation costs from a new automated production facility[59] - The credit impairment loss surged by 515.07% to ¥3,398,262.74, attributed to increased bad debt provisions amid structural adjustments in the downstream breeding industry[59] - The company will optimize production arrangements and enhance procurement capabilities to lower production costs[108] - The company aims to improve its internal management systems to enhance operational efficiency and risk management[115] Governance and Compliance - The company has established a governance structure to ensure decision-making processes are transparent and protect minority shareholders[120] - The company reported a total of 678,251.50 yuan in litigation as a plaintiff, representing 0.23% of the net assets at the end of the reporting period[124] - The company has no significant related party transactions during the reporting period, ensuring no misuse of funds or assets[127] - The company has a robust governance structure, with independent directors meeting the required independence criteria[190] - The company has established a sound internal control management system, ensuring compliance with laws and regulations, and maintaining operational integrity[183] - The audit committee confirmed that the financial reports accurately reflect the company's performance and financial status, with no significant omissions or misleading statements[185] - The company held five board meetings during the reporting period, addressing significant matters including the annual financial report and budget for 2024[178] Shareholder Information - The actual controllers of the company hold 49.94% of the total shares, which may influence major decisions and potentially affect minority shareholders' interests[120] - The largest shareholder, Yan Heping, holds 53,246,000 shares, representing 47.81% of the total shares[138] - The total number of shares held by the top ten shareholders is 71,921,289, accounting for 64.57% of the total shares[138] - The company has a total of 5,379 shareholders as of the end of the reporting period[136] - The company has not proposed any cash dividend distribution plan during the reporting period despite having positive undistributed profits[152] - The cash dividend policy is compliant with the company's articles of association and has clear standards and procedures[152] - The company has ensured that minority shareholders have the opportunity to express their opinions and that their rights are protected[152] Employee Information - The company had a total of 334 employees at the end of the reporting period, down from 382 at the beginning, reflecting a net decrease of 48 employees[163] - The company implements a comprehensive labor contract system, ensuring compliance with the Labor Law of the People's Republic of China and local regulations, providing salaries, allowances, and bonuses to all employees[165] - Employee training programs are prioritized, including onboarding, skills training, and management skills training, aimed at enhancing overall employee capabilities[165] - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to CNY 2.363 million[162] Financial Obligations - The total loan amount provided by various banks is 82,600,000.00, with an average interest rate of approximately 3.60%[150] - The company has secured a mortgage loan of 5,000,000.00 from China Post Bank with a term starting in January 2024 and ending in January 2025 at an interest rate of 3.60%[150] - A loan of 25,000,000.00 was obtained from a commercial bank, with a term from May 2024 to May 2025 at an interest rate of 3.65%[150] - The company has also secured a guarantee loan of 3,000,000.00 from Shanghai Pudong Development Bank, with a term from November 2024 to November 2025 at an interest rate of 3.30%[151]
大禹生物(871970) - 2024 Q4 - 年度财报