FULONGMA(SH:603686)2025-04-28 09:40Financial Performance - The company achieved operating revenue of RMB 5.04 billion in 2024, a decrease of 1.30% compared to the previous year[23]. - Net profit attributable to shareholders was RMB 145.44 million, down 37.43% year-on-year, primarily due to increased bad debt provisions and new sanitation service projects not yet generating profit[25]. - The net cash flow from operating activities decreased by 93.46% to RMB 56.75 million, mainly due to a reduction in received payments[25]. - Basic earnings per share fell by 37.50% to RMB 0.35, reflecting the decline in net profit[24]. - The company’s total assets increased by 10.13% to RMB 6.74 billion at the end of 2024[23]. - The net assets attributable to shareholders rose by 0.76% to RMB 3.34 billion[23]. - The gross profit margin for 2024 was reported at 21.57%[35]. - The environmental industry ecological operation business revenue reached 3.824 billion yuan, with a gross margin of 21.77%[37]. - The intelligent equipment manufacturing business revenue was 1.078 billion yuan in 2024, with a gross margin of 20.80%[39]. - The company’s direct sales model generated 4.80 billion RMB in revenue, with a slight increase of 0.58% year-on-year[92]. Dividend Distribution - The company plans to distribute a cash dividend of 1.58 RMB per 10 shares to all shareholders registered on the equity registration date, based on the total share capital as of that date[8]. - The company has no plans for bonus shares or capital reserve transfers in the current profit distribution proposal[8]. - The company plans to distribute dividends amounting to 45.13% of the net profit attributable to the listed company for 2024, maintaining a high dividend ratio[42]. - The cash dividend for the fiscal year 2023 is set at CNY 0.25 per share, totaling CNY 103,857,601, which represents 45.13% of the net profit attributable to ordinary shareholders[179]. - Over the last three accounting years, the cumulative cash dividend (including tax) amounted to CNY 273,353,205.83, with a cash dividend ratio of 130.53% based on the average annual net profit[184]. Risk Management - There are no significant risk events reported during the reporting period, and potential risks are discussed in the management analysis section[10]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[10]. - The company has not violated decision-making procedures for external guarantees[10]. - The company emphasizes risk prevention and safety management, enhancing risk awareness through training and case analysis[138]. - The company is addressing operational management risks by strengthening talent development and optimizing management systems to ensure service quality and operational stability[142]. Market Position and Strategy - The company is focusing on a "equipment + service" strategy to enhance market expansion and operational efficiency[35]. - The company maintains a leading position in the industry with its unmanned sanitation technology, showcasing strong development resilience and potential[35]. - The company achieved a market share of 4.27% in the sanitation equipment market, ranking fifth in the industry[39]. - The company is actively expanding into international markets, exporting products to regions such as Hong Kong, Macau, Taiwan, and Southeast Asia[66]. - The company is focusing on the development of smart sanitation equipment and aims to lead the industry in unmanned sanitation technology and products[132]. Research and Development - The company has 590 valid patents, including 118 invention patents, supporting its product performance expansion[103]. - Research and development expenses were 66.54 million RMB, a decrease of 6.35% from the previous year[88]. - The company emphasizes technological innovation and R&D investment to optimize product structure and meet market trends[62]. - The company has established partnerships with national research institutions to lead technical exchanges in sanitation operation mechanisms and standards, enhancing its advisory service capabilities[85]. - The company will continue to invest in R&D and expand into new product areas, particularly in smart and eco-friendly sanitation solutions[134]. Environmental Compliance - The company has established waste gas treatment facilities, wastewater treatment stations, and dust removal systems to ensure compliance with environmental discharge standards[195]. - During the reporting period, all wastewater and waste gas emissions met the standards, and hazardous waste was disposed of in accordance with regulations[196]. - The company has implemented an environmental self-monitoring plan and strictly adheres to relevant regulations and monitoring protocols[199]. - The company is classified as a key pollutant discharge unit in Fujian Province, while its subsidiary is monitored as a key pollutant discharge unit in Guizhou Province[200]. - The company has developed an emergency response plan for environmental incidents, enhancing its ability to manage sudden pollution events[198]. Corporate Governance - The company has improved its governance structure, ensuring clear responsibilities and compliance with regulatory requirements to protect investor interests[149]. - The company is committed to enhancing investor relations and information disclosure, ensuring equal access to information for all shareholders[150]. - The company maintains independence from its controlling shareholders, ensuring autonomous operations and decision-making capabilities[151]. - The company has established a comprehensive internal control management system, ensuring compliance and asset security, which supports the steady implementation of its strategy[188]. - The company has reported no significant deficiencies in its internal control systems during the reporting period[189]. Employee Management - The total number of employees in the parent company is 680, while the total number of employees in major subsidiaries is 49,962, resulting in a combined total of 50,642 employees[171]. - The company has implemented a comprehensive salary system that aligns employee compensation with business development, ensuring timely and full payment of wages and benefits[173]. - The company has established an internal online learning platform, "i Longma Academy," to enhance employee skills and knowledge through various modern training methods[174]. - The company has maintained a zero number of retired employees requiring expense coverage, indicating a stable workforce[171]. - The company has a total of 226 sales personnel across the organization, with 49,282 employees in environmental sanitation service projects nationwide[172].