JGJC(SZ:000799)2025-04-28 12:15Dividend Distribution - The company plans to distribute a cash dividend of 6 RMB per 10 shares to all shareholders, based on a total of 324,928,980 shares[5] - The cash dividend for the 2024 fiscal year is set at RMB 6 per 10 shares, amounting to RMB 194,957,388, with no stock dividends or capital reserve transfers[114] Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the last fiscal year[13] - The company's operating revenue for 2024 was ¥1,423,329,132.44, a decrease of 49.70% compared to ¥2,829,669,201.53 in 2023[6] - The net profit attributable to shareholders for 2024 was ¥12,493,289.41, down 97.72% from ¥547,812,758.32 in 2023[6] - The net cash flow from operating activities was -¥360,878,525.74, a decline of 804.30% compared to ¥51,239,185.45 in 2023[6] - The total assets at the end of 2024 were ¥5,079,403,570.88, a decrease of 10.41% from ¥5,669,511,370.92 at the end of 2023[6] - The sales of liquor accounted for ¥1,414,602,139.96, representing 99.39% of total revenue, with a year-on-year decline of 49.85%[44] - The company's gross profit margin for liquor sales was 71.40%, down 7.04% from the previous year[45] - The sales volume of liquor decreased to 6,623 tons, down 33.00% from 9,882 tons in the previous year[46] Market Expansion and Strategy - The company is focusing on expanding its market presence, particularly in the southern regions of China, aiming for a 20% increase in market share over the next two years[13] - New product development initiatives are underway, with plans to launch two new liquor products by Q3 2025, targeting a 10% increase in overall sales[13] - The company is exploring potential mergers and acquisitions to enhance its distribution network, with a target completion date by the end of 2025[13] - User data indicates a 25% increase in online sales, reflecting a shift in consumer purchasing behavior towards e-commerce platforms[13] - The company has established 15 model markets nationwide, focusing on key areas such as Changsha, Xiangxi, Yueyang, and Yongzhou in Hunan province[41] - The product strategy is centered around a "1+3" product matrix, covering high, medium, and low price segments, with significant year-on-year growth in banquet and consumer scanning data[41] - The company aims to strengthen brand communication and deepen the synergy between product sales and marketing, leveraging its regional and cultural advantages[41] Research and Development - The company has allocated 50 million RMB for research and development in innovative brewing technologies for the upcoming fiscal year[13] - Research and development expenses increased by 22.28% to ¥20,024,000.09 compared to ¥16,375,687.14 in 2023[52] - The number of R&D personnel remained stable at 144, accounting for 7.43% of the total workforce[52] - R&D investment increased to ¥20,024,000.09 in 2024, up 22.28% from ¥16,375,687.14 in 2023, representing 1.41% of operating revenue[53] Corporate Governance - The company is committed to enhancing its corporate governance practices to ensure transparency and accountability in its operations[13] - The company has a robust governance structure, with independent directors constituting one-third of the board, ensuring compliance with legal and regulatory requirements[74] - The company has implemented a fair and transparent performance evaluation system for its directors and senior management[75] - The company actively engages with stakeholders, ensuring their rights and interests are respected and maintained[75] - The company has established a value management system and is committed to enhancing its valuation through transparent governance practices[72] Environmental Responsibility - The company has a wastewater treatment capacity of 2400 tons per day, ensuring compliance with relevant pollution discharge standards[126] - The company has implemented low-nitrogen combustion technology in its four gas boilers to meet air pollutant discharge standards[126] - The company reported no instances of exceeding pollutant discharge limits for key pollutants such as chemical oxygen demand and nitrogen oxides[124][125] - The company has established a solid waste disposal partnership with a local feed processing company for the utilization of solid waste[127] - The company has not identified any major environmental protection issues related to its operations[123] Management and Leadership - The company has a stable management team with terms extending until February 2027 for most members[81] - The company is focused on maintaining strong governance with independent directors and a diverse management team[81] - The current chairman of the company is Mr. Gao Feng, who has extensive experience in various roles within COFCO Group since 1996[84] - The finance department is led by Mr. Yan Xuebo, who has been with COFCO Group since 2009, ensuring robust financial management practices[88] - The management team emphasizes the importance of strategic partnerships and acquisitions to enhance market competitiveness[86] Related Party Transactions - The company engaged in significant related party transactions, with a total amount of 4,719.53 million yuan for the reporting period[147] - The largest transaction involved purchasing raw materials from COFCO Rice Industry (Xiantao) for 1,422.56 million yuan, accounting for 68.54% of similar transactions[145] - The company expects to continue its related party transactions in the upcoming fiscal year, with disclosures planned for February 2024[145] Audit and Compliance - The audit opinion for the financial statements was a standard unqualified opinion, issued by Tianzhi International Accounting Firm on April 28, 2025[183] - The company must communicate any identified internal control deficiencies to governance, ensuring transparency and compliance with ethical standards[197] - The internal control audit report indicated that the company maintained effective financial reporting internal controls as of December 31, 2024[121]