JIANGSU SAINTY(SH:600287)2025-04-28 14:00Financial Performance - The total profit for the parent company in 2024 was CNY 34,538,313.02, with a net profit of CNY 55,923,458.76, resulting in a negative distributable profit of CNY -315,416,265.69 at the end of the year[7]. - The company's operating revenue for 2024 was CNY 3,248,653,514.61, a decrease of 4.58% compared to CNY 3,404,455,980.93 in 2023[21]. - The net profit attributable to shareholders decreased by 31.05% to CNY 48,919,305.10 in 2024 from CNY 70,951,076.63 in 2023[21]. - The basic earnings per share for 2024 was CNY 0.1120, down 31.03% from CNY 0.1624 in 2023[22]. - The total profit for 2024 was 119 million RMB, down 25.68% year-over-year[32]. - The net profit attributable to shareholders of the parent company was 48.9193 million RMB, a decline of 31.05% from the previous year[32]. - The company reported a significant decrease of 68.69% in net profit after deducting non-recurring gains and losses, amounting to CNY 21,601,020.70 in 2024[21]. - The weighted average return on equity decreased to 2.64% in 2024, down from 4.01% in 2023, reflecting a decline of 1.37 percentage points[22]. Cash Flow and Assets - The net cash flow from operating activities improved to CNY 504,111,160.25 in 2024, compared to a negative cash flow of CNY -30,061,066.55 in 2023[21]. - The total assets of the company decreased by 8.39% to CNY 3,163,772,349.08 at the end of 2024 from CNY 3,453,493,087.89 at the end of 2023[21]. - The company's net assets attributable to shareholders increased by 15.97% to CNY 2,096,811,278.14 in 2024 from CNY 1,808,073,408.44 in 2023[21]. Business Strategy and Development - The company is focusing on enhancing its core competitiveness in the apparel trade by investing in digital transformation and innovation[33]. - The company is actively exploring new business models, including cross-border e-commerce, to drive growth[38]. - The company aims to enhance its production efficiency and resource allocation to support its core business better[43]. - The company is focusing on diversifying its business while solidifying its core textile and apparel trade operations[48]. - The company plans to focus on the textile and apparel industry, enhancing innovation capabilities and optimizing internal management systems for sustainable high-quality development in 2025[91]. - The company aims to strengthen international market development, particularly in traditional markets like Europe and the US, while exploring opportunities in emerging markets along the "Belt and Road" initiative[93]. Market Conditions and Challenges - The company is currently facing challenges in supply chain coordination both domestically and internationally, impacting its international development[43]. - The company is facing significant market risks due to a complex international economic environment, with the US economy expected to remain strong while Europe faces geopolitical challenges, potentially leading to unstable market demand and exchange rate fluctuations[102]. - Domestic market conditions show structural demand shortages, with ongoing low performance in consumer goods and real estate, resulting in increased price pressures and longer accounts receivable cycles[104]. - Rising factor costs are a major concern, with domestic production material prices and labor costs continuing to increase, prompting the company to accelerate its digital and intelligent transformation[105]. Governance and Compliance - The company is committed to improving its governance structure and risk management capabilities to ensure sustainable growth[52]. - The company has established a comprehensive corporate governance structure, ensuring effective risk management and compliance with regulatory requirements[111]. - The company has acknowledged the need for internal governance improvements and has committed to enhancing the quality of information disclosure[181]. - The company has received administrative penalties from the China Securities Regulatory Commission during the reporting period[131]. Employee and Talent Management - The company is focusing on talent development, implementing specialized training programs to cultivate high-skilled talent and strengthen its workforce[99]. - The company’s remuneration policy links employee compensation to management levels, professional skills, work intensity, and performance[145]. - The company has established a two-channel incentive system for employee compensation to attract and retain talent[145]. Environmental and Social Responsibility - The company has not established any environmental protection mechanisms and reported zero investment in environmental protection during the reporting period[163]. - The company has not implemented any carbon reduction measures, resulting in zero reduction in carbon emissions[164]. - The company invested a total of 2.8 million yuan in charitable donations during the "Charity One Day Donation" event[167]. - A total of 9.2 million yuan was invested in poverty alleviation projects, specifically through material assistance[168]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 18,893[194]. - The largest shareholder, Jiangsu Suhao Yaohui Technology Group Co., Ltd., holds 52.49% of the shares[196]. - The total number of shares held by the top ten shareholders is 230,371,455[196]. - The company has a cash dividend policy that emphasizes long-term, stable returns to investors, ensuring transparency and protection of minority shareholders' rights[149].