YASHA(002375)2025-04-28 13:15Financial Performance - The company's operating revenue for 2024 was approximately ¥12.14 billion, a decrease of 5.70% compared to ¥12.87 billion in 2023[14]. - Net profit attributable to shareholders increased by 21.00% to approximately ¥302.73 million, up from ¥250.19 million in the previous year[14]. - The net profit after deducting non-recurring gains and losses rose by 36.21% to approximately ¥276.78 million, compared to ¥203.20 million in 2023[14]. - The net cash flow from operating activities was approximately ¥243.17 million, an increase of 18.98% from ¥204.37 million in 2023[14]. - Basic earnings per share increased by 21.05% to ¥0.23, compared to ¥0.19 in the previous year[14]. - Total assets at the end of 2024 were approximately ¥22.77 billion, a decrease of 1.07% from ¥23.02 billion at the end of 2023[14]. - Net assets attributable to shareholders increased by 1.60% to approximately ¥8.02 billion, compared to ¥7.89 billion at the end of 2023[14]. - The company achieved operating revenue of 12.136 billion yuan and a net profit attributable to shareholders of 303 million yuan, with a basic earnings per share of 0.23 yuan[37]. - As of December 31, 2024, the company's total assets amounted to 22.768 billion yuan, and the equity attributable to shareholders was 8.019 billion yuan[37]. - The company achieved an operating profit of 346 million yuan, representing a year-on-year increase of 28.32%, and a net profit attributable to the parent company of 303 million yuan, up 21% year-on-year[57]. Revenue Breakdown - The construction decoration industry accounted for 95.67% of total revenue, generating ¥11,609,727,740.70, down 5.97% from the previous year[75]. - The company’s total revenue for the construction decoration business was approximately CNY 6.78 billion, a decrease of 5.73% compared to the same period last year, with a gross margin of 13.67%, up 1.16% year-on-year[77]. - The total revenue for the curtain wall decoration business was approximately CNY 4.15 billion, down 3.12% year-on-year, with a gross margin of 10.11%, an increase of 2.58% compared to the previous year[77]. - The company reported a total of CNY 10.94 billion in revenue from renovation services, with a gross margin of 12.32%[78]. - The company’s revenue from the East China region increased by 9.17% to ¥8,603,056,919.57, representing 70.89% of total revenue[75]. Cash Flow and Investments - Operating cash inflow decreased by 16.78% from ¥14,818,504,133.76 in 2023 to ¥12,331,537,322.70 in 2024, while operating cash outflow decreased by 17.28% from ¥14,614,131,051.41 to ¥12,088,371,603.29[97]. - Net cash flow from investment activities decreased significantly by 882.46%, primarily due to a reduction in large bank deposit redemptions and increased housing payment expenditures[98]. - Net cash flow from financing activities decreased by 157.44%, mainly due to a decrease in the recovery of margin related to financing and payments for share repurchases[98]. - The net increase in cash and cash equivalents was negative at -¥558,713,239.71, a significant decline compared to -¥11,983,744.48 in 2023, reflecting a 4,562.26% decrease[97]. - The company made significant equity investments totaling ¥70,000,000.00 during the reporting period, with a focus on new establishments in the interior decoration sector[108]. Market Position and Industry Trends - The company has been recognized as the second top enterprise in China's construction decoration industry for 18 consecutive years, indicating strong market positioning[29]. - The total output value of the national construction industry in 2024 was approximately ¥32.65 trillion, reflecting a year-on-year growth of 3.85%[25]. - The construction industry is experiencing stable growth driven by new urbanization and green policies, leading to increased market concentration and opportunities for leading companies[37]. - The company is focusing on smart construction and digitalization as key trends for future growth in the building decoration industry[26]. - The company is actively participating in the establishment of industry standards for prefabricated decoration and green buildings, having published multiple technical regulations and standards by 2024[33]. Technological Innovation and Development - The company aims to enhance its technological innovation and talent development to adapt to the evolving market demands and competition[28]. - The company is focusing on the development of prefabricated decoration and digital transformation, aligning with national strategies for green and low-carbon industries[32]. - The company has accumulated 6,169 patents, including 1,036 invention patents, and has received 700 national construction decoration technology awards, showcasing its innovation capabilities[53]. - The company has independently developed the industrialized building material "Kena Wall Panel," which has received the Chinese Green Building Material Three-Star Certification, becoming an officially recognized green building material[56]. - The company is focusing on developing new technologies and products, including a noise-reducing window system aimed at the healthcare sector, enhancing its market competitiveness in green building materials[94]. Risk Management and Governance - The company has acknowledged risks related to macroeconomic fluctuations, real estate policy adjustments, and market competition[4]. - The company faces risks from macroeconomic fluctuations and real estate policy adjustments, which could impact business demand and performance[128][129]. - The company has established a comprehensive internal control system in accordance with relevant laws and regulations, continuously optimizing it to enhance risk management capabilities[192]. - The internal control evaluation report indicates that 100% of the total assets and operating income of the evaluated units are included in the consolidated financial statements[193]. - The company has not identified any significant internal control deficiencies during the reporting period[193]. Human Resources and Training - The total number of employees at the end of the reporting period is 4,211, with 1,882 in the parent company and 2,329 in major subsidiaries[171]. - The company conducted 1,604 training sessions with a total of 59,536 participants, achieving an average of 14.54 training hours per employee[174]. - The company has implemented a comprehensive talent development strategy, including a training system that covers the entire career lifecycle of employees, enhancing the professional and vocational levels of the team[56]. - The company aims to train 150 employees through its "一级建造师" (First-Class Constructor) project, enhancing professional skills and preparing for high-quality bidding orders[175]. - The company has adopted a systematic training framework to enhance project management capabilities among its employees[174]. Corporate Governance - The company has disclosed various governance systems, with the latest updates on the management of fundraising and information disclosure management systems as of April 30, 2023[143]. - The company has implemented a series of amendments to its articles of association, with the most recent amendment dated December 9, 2023[143]. - The company maintains a robust investor relations management system, with updates made as recently as April 30, 2022[142]. - The company has established a risk investment management system, with the latest revision on December 9, 2023[143]. - The company has a structured approach to managing stock trading by directors and senior management, with the latest update on April 30, 2022[142]. Social Responsibility and Environmental Measures - The company’s self-reported environmental measures include the development of low-carbon, recyclable products certified by environmental standards[197]. - The company plans to publish its 2024 Social Responsibility Report on April 29, 2025[198]. - The company did not engage in poverty alleviation or rural revitalization efforts in 2024[199].