回盛生物(300871) - 2024 Q4 - 年度财报

Financial Performance - The company's net profit attributable to shareholders decreased by 220.11% year-on-year, while the net profit after deducting non-recurring gains and losses fell by 45.06%[4]. - The company's operating revenue for 2024 reached ¥1,200,327,933.81, an increase of 17.71% compared to ¥1,019,758,798.36 in 2023[23]. - The net profit attributable to shareholders was a loss of ¥20,155,591.43 in 2024, a decline of 220.11% from a profit of ¥16,780,818.77 in 2023[23]. - The net cash flow from operating activities decreased by 53.15% to ¥43,531,846.81 in 2024, down from ¥92,919,346.00 in 2023[23]. - The total assets at the end of 2024 were ¥3,014,682,865.02, reflecting a 1.32% increase from ¥2,975,460,462.12 at the end of 2023[24]. - The net assets attributable to shareholders decreased by 3.43% to ¥1,457,576,824.02 at the end of 2024, compared to ¥1,509,281,062.12 at the end of 2023[24]. - The company reported a basic earnings per share of -¥0.1215 for 2024, a decrease of 220.18% from ¥0.1011 in 2023[23]. - The company achieved operating revenue of 1,200.33 million yuan, an increase of 17.71% compared to the same period last year[50]. - The net profit attributable to shareholders was -20.16 million yuan, a decrease of 220.11% year-on-year[50]. Research and Development - The company increased its R&D expenses by a significant margin, impacting net profit due to ongoing investments in innovation[4]. - The company plans to continue its focus on R&D for new products and technologies to enhance market competitiveness[32]. - Research and development expenses increased by 25.11% to ¥55,797,216.51, reflecting a higher investment in innovation[77]. - The company is actively developing new products, with an investment of $10 million in R&D for innovative veterinary pharmaceuticals[131]. - The company is focusing on developing functional pet health products, with plans to launch 10 new products and establish a comprehensive sales network[79]. Market Expansion and Strategy - The company aims to expand its overseas market presence as part of its "going out" strategy to mitigate domestic business cycle impacts[5]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to drive future growth[32]. - The company is implementing a "going out" strategy to expand overseas markets and reduce the cyclical impact of domestic business[40]. - The company is focusing on expanding its production capacity and enhancing its product offerings to adapt to market changes and improve profitability[108]. - Market expansion efforts include entering three new regional markets, aiming for a 25% increase in market share by the end of 2025[132]. Product Development and Offerings - The company plans to enhance its product competitiveness by focusing on the development of new veterinary drugs and optimizing its product performance and supply chain structure[5]. - The company has obtained 188 veterinary drug approval numbers, with products widely used in various fields including pigs, poultry, aquaculture, ruminants, and pets[42]. - The company launched 3 new drug approvals and 7 new veterinary drugs during the reporting period, expanding its product offerings significantly[61]. - The company’s pet product line expanded significantly, with 7 new pet product approvals obtained during the reporting period[53]. Financial Management and Investments - The company raised a total of RMB 154,001 million through its initial public offering and convertible bonds, with a net amount of RMB 154,001 million as of December 31, 2024[100]. - The company has invested RMB 48,587.17 million in fundraising projects and RMB 17,006.59 million in working capital from the RMB 68,929.90 million raised through convertible bonds[101]. - The company has achieved a project investment progress of 99.91% for the new base construction project for automated production of premix agents, with a total commitment of RMB 32,000 million[105]. - The company has completed 100% of the investment for the construction of the quality inspection center project, with a total commitment of RMB 7,000 million[105]. - The company has initiated the construction of a comprehensive production line for pet preparations, with a total commitment of RMB 9,000 million, achieving 100% of the investment progress[105]. Governance and Compliance - The governance structure remains robust, with compliance to all relevant laws and regulations, ensuring transparency and accountability[129]. - The company maintains complete operational independence from its controlling shareholders, ensuring no conflicts of interest in decision-making processes[130]. - The company has a structured remuneration decision process based on performance, capability, and responsibilities[151]. - The company is focused on governance improvements and compliance with regulatory requirements following recent board changes[141]. - The board strictly adhered to regulations and focused on the interests of minority shareholders, ensuring compliance and prudent accounting practices[158]. Environmental Responsibility - The company strictly complies with multiple environmental protection laws and standards, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[193]. - The company has implemented a comprehensive wastewater treatment system, including multiple treatment processes to meet discharge standards[196]. - Emission standards for waste gas are met, with all processes equipped with specialized treatment devices to ensure compliance with national air quality standards[197]. - The company has established a comprehensive environmental management system to minimize pollution and ensure compliance with environmental regulations[193]. Employee Management and Development - The total number of employees at the end of the reporting period is 1,028, with 393 in the parent company and 622 in major subsidiaries[164]. - The company has a structured salary system that includes basic salary, performance bonuses, and project incentives, focusing on employee contributions and industry salary levels[166]. - The company emphasizes employee training with a diverse training system, including internal and external training tailored to different job roles[167]. - The company has established a performance evaluation system to motivate employees and ensure compliance with labor laws[166]. Shareholder Engagement and Dividends - The company has a cash dividend policy that prioritizes cash distributions over stock dividends, considering cash flow and business growth[169]. - The company approved a cash dividend of RMB 2.70 per 10 shares (including tax), totaling RMB 44,552,853.90 for the 2023 fiscal year[170]. - The cash dividend distribution is based on a total share capital of 165,012,035 shares, with a cash dividend amount of RMB 21,451,564.55 (including tax) for the current reporting period[173]. - The company plans to distribute a cash dividend of RMB 1.30 per 10 shares (including tax) for the 2024 fiscal year, pending approval at the 2024 annual general meeting[175].