Lafang(SH:603630)2025-04-28 13:05Financial Performance - The net profit attributable to shareholders for the year 2024 is CNY 41,366,646.74, with a distributable profit of CNY 783,759,461.45[7]. - The proposed cash dividend is CNY 0.90 per 10 shares, totaling CNY 20,052,295.20, which accounts for 48.47% of the net profit attributable to shareholders[7]. - The total cash dividend for 2024, including interim distributions, amounts to CNY 31,192,459.20, representing 75.40% of the net profit attributable to shareholders[8]. - The share repurchase amount for 2024 is CNY 25,588,879.23, which constitutes 61.86% of the net profit attributable to shareholders[8]. - The combined total of cash dividends and share repurchases for 2024 is CNY 56,781,338.43, exceeding the net profit attributable to shareholders by 137.26%[8]. - In 2024, the company's operating revenue reached ¥888.72 million, a 3.36% increase compared to ¥859.79 million in 2023[25]. - The net profit attributable to shareholders decreased by 36.84% to ¥41.37 million in 2024 from ¥65.50 million in 2023[25]. - The net profit after deducting non-recurring gains and losses was ¥40.11 million, down 42.83% from ¥70.15 million in the previous year[25]. - The net cash flow from operating activities increased by 9.94% to ¥161.42 million in 2024, compared to ¥146.83 million in 2023[25]. - Basic earnings per share fell by 34.48% to ¥0.19 in 2024 from ¥0.29 in 2023[26]. - The weighted average return on equity decreased by 1.23 percentage points to 2.13% in 2024 from 3.36% in 2023[26]. Market Challenges and Strategies - The company faced challenges due to insufficient effective demand in the daily chemical industry and intensified competition, leading to a shift in consumer habits towards online shopping[34]. - The company is focusing on brand building and enhancing its core competitiveness in response to the changing market environment[34]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[64]. - The company is facing intensified market competition, particularly in the personal care sector, necessitating differentiated strategies and accelerated new product development[116]. Revenue and Sales Channels - The "Lafang" and "Yujie" brands generated revenue of ¥787,093,300, accounting for 88.57% of total revenue[35]. - Revenue from the distribution channel was ¥623,123,000, representing 70.11% of total revenue, with a year-on-year growth of 4.42%[35]. - E-commerce and other channels generated revenue of ¥264,876,900, accounting for 29.80% of total revenue, with a year-on-year growth of 2.73%[35]. - The retail sales of cosmetics in China reached ¥435.7 billion, with a year-on-year growth of 3.5%[36]. - The online retail sales in China amounted to ¥15,522.5 billion, a year-on-year increase of 7.2%[37]. Research and Development - The company has successfully developed new raw materials and technologies, including "SmarTein" and "keratin peptide technology," enhancing product competitiveness[57]. - The company has applied for 38 invention patents during the reporting period, with 12 patents granted, totaling 113 authorized patents as of December 31, 2024[59]. - Research and development expenses rose by 19.59%, totaling ¥41,608,146.54, compared to ¥34,792,091.28 in the prior year[62]. - The number of R&D personnel is 96, accounting for 8.95% of the total workforce[74]. Environmental and Social Responsibility - The company has invested 909,300 RMB in environmental protection during the reporting period[161]. - The company was listed as a key pollutant discharge unit by the Shantou Ecological Environment Bureau on April 4, 2024[162]. - The company implemented low-nitrogen combustion transformation for its natural gas steam boiler to meet new pollutant discharge standards[163]. - The company achieved a nitrogen oxide discharge concentration of 39.5 mg/m3 after the boiler transformation, below the limit of 50 mg/m3[164]. - The company has invested a total of 110,000 RMB in public welfare projects, benefiting approximately 1,240,000 people through emergency rescue facilities and ecological construction initiatives[173]. - The company emphasizes corporate social responsibility, focusing on sustainable development and environmental protection initiatives[179]. Governance and Compliance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements; the board held 6 meetings during the reporting period[124]. - The supervisory board, comprising 3 members, held 5 meetings, actively participating in the oversight of the company's financial status and major decisions[125]. - The company emphasizes transparency and compliance in information disclosure, adhering to regulations and enhancing communication with investors through various channels[126]. - The company has established a comprehensive governance framework that includes specialized committees to enhance decision-making processes and ensure sustainable development[124]. - The company has committed to fulfilling information disclosure obligations and necessary approval procedures for related transactions[183]. Legal and Financial Management - The company initiated arbitration against BBK Commercial Chain Co., Ltd. for a total amount of RMB 15,299,833.90 due to a dispute over a sales contract[190]. - The arbitration ruling requires BBK Commercial Chain Co., Ltd. to pay RMB 3,388,286.36 for settled but unpaid goods, along with overdue interest of RMB 197,082.23[191]. - The company has appointed Huaxing Accounting Firm as its auditor for the fiscal year 2024, with an audit fee of RMB 1,520,000[187]. - The company has not faced any delisting risks or bankruptcy restructuring matters during the reporting period[188]. - The company has confirmed that there are no legal or regulatory issues affecting its operations or management[193].