Financial Performance - The company's operating revenue for 2024 was CNY 1,107,498,711.64, a decrease of 25.47% compared to CNY 1,485,931,778.72 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 253,593,985.67, down 49.24% from CNY 499,549,151.46 in 2023[23]. - The basic earnings per share for 2024 was CNY 0.88, a decline of 54.40% compared to CNY 1.93 in 2023[24]. - The company's total assets increased to CNY 4,585,115,204.82 in 2024, up 64.07% from CNY 2,794,618,242.49 in 2023[23]. - The net cash flow from operating activities for 2024 was CNY 223,269,699.62, a decrease of 48.72% from CNY 435,415,749.05 in 2023[23]. - The company's gross profit for 2024 was 344.98 million yuan, a year-on-year decline of 49.13%, with a comprehensive gross margin dropping from 45.64% to 31.15%[49]. - The decline in performance was attributed to insufficient market demand and price declines due to cyclical fluctuations in the industry[50]. Dividend Policy - The company plans to distribute a cash dividend of 3.00 yuan per 10 shares (including tax) based on the total share capital as of the dividend distribution date, with a cumulative undistributed profit of 1,373,783,646.74 yuan as of December 31, 2024[6]. - The company has established a cash dividend policy, ensuring that at least 25% of the net profit attributable to the parent company is distributed as cash dividends each year[155]. - For the fiscal year 2024, the company intends to distribute a cash dividend of 3.00 CNY per 10 shares, amounting to a total of 103,602,000 CNY, which represents 95.32% of the net profit attributable to shareholders[165][168]. - The total cash dividend for the year, including interim distributions, is projected to be 241,738,000 CNY, also accounting for 95.32% of the net profit attributable to shareholders[168]. - The company will not distribute profits until it has covered any previous losses and allocated the required legal reserve[156]. Risk Management - There are no significant risks that materially affect the company's production and operations during the reporting period[8]. - The company has not faced any major risks that could impact its future development, as detailed in the management discussion and analysis section[8]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for providing guarantees to external parties[8]. - The company has no reported risks identified by the supervisory board during the reporting period[149]. Research and Development - The company is actively developing new projects and technologies, applying for 6 invention patents and obtaining 5 authorized patents in 2024[34]. - The average R&D expenditure over the past three years was approximately 57.39 million yuan, accounting for 3.94% of the average annual revenue during the same period[41]. - The company invested 46.85 million RMB in R&D, accounting for 4.23% of total revenue, and holds 41 patents, including 22 invention patents[96]. - The company employs 118 R&D and technical personnel, most of whom have backgrounds in chemical engineering or related fields[41]. - The company has successfully developed various fluorinated fine chemical intermediates through innovative synthesis processes, enhancing resource utilization[95]. Environmental Commitment - The company emphasizes the importance of environmental protection and has received multiple awards for its green factory initiatives, enhancing its sustainable development strategy[48]. - The company has established a comprehensive pollution control system for wastewater, waste gas, and solid waste, ensuring compliance with environmental standards[182]. - The company has committed to continuous technological innovation, aiming to become a green benchmark in the fine chemical industry[184]. - The company has developed patented technologies that significantly reduce energy consumption and emissions during production processes[184]. - The company is actively pursuing a circular economy model to enhance resource utilization and reduce carbon emissions[184]. Corporate Governance - The board of directors and supervisory board members confirm the authenticity, accuracy, and completeness of the annual report[3]. - The company maintains independence from its controlling shareholders in assets, personnel, finance, and operations, ensuring a complete and independent business system[124]. - The company has established independent governance structures, including a board of directors and supervisory board, which operate independently from its shareholders[125]. - The company adheres to strict information disclosure obligations, ensuring that all shareholders have equal access to relevant information[123]. - The company has a clear organizational structure that separates its operations from those of its controlling shareholders, ensuring no mixed operations[126]. Market Position and Strategy - The company operates in the fluorochemical industry, focusing on the research, production, and sales of chlorobenzene and trifluoromethylbenzene series products[37]. - The company is one of the largest domestic producers of trifluoromethylbenzene series products, benefiting from stable supply capabilities and cost competitiveness[42]. - The company has established stable partnerships with renowned clients such as BAYER, BASF, and FMC, recognized for its product quality and reliable supply[45]. - The company is positioned as a leading player in the domestic market for trifluoromethylbenzene series products, with significant production capacity and a complete industrial chain[89]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by the end of the fiscal year[131].
巍华新材(603310) - 2024 Q4 - 年度财报