GUOLIAN AQUATIC(300094)2025-04-28 14:05Financial Performance - The company's operating revenue for 2024 was approximately ¥3.41 billion, a decrease of 26.16% compared to ¥4.91 billion in 2023[19]. - The net profit attributable to shareholders for 2024 was approximately -¥742.45 million, representing a decline of 39.62% from -¥531.78 million in the previous year[19]. - The net cash flow from operating activities decreased by 82.76% to approximately ¥29.39 million, down from ¥170.50 million in 2023[19]. - The total assets at the end of 2024 were approximately ¥4.11 billion, a decrease of 18.87% from ¥5.07 billion at the end of 2023[19]. - The net assets attributable to shareholders decreased by 28.99% to approximately ¥1.83 billion, down from ¥2.58 billion in the previous year[19]. - The company has reported a negative net profit for the most recent fiscal year, raising concerns about its ongoing viability[21]. - The company achieved total revenue of 3.409 billion yuan, a year-on-year decrease of 26.16%[42]. - The net profit attributable to shareholders was approximately -742 million yuan, indicating an increase in losses compared to the previous year[42]. Business Strategy and Focus - The company plans to focus on the prepared food business and upgrade its business model, maintaining a stable core competitiveness[5]. - The company is focusing on the pre-prepared food sector, which is expected to grow significantly, with market size projections reaching trillions in the coming years[32]. - The company focuses on deep processing and prefabricated dishes, with major products including bullfrogs, flavored fish, and crayfish[34]. - The company is committed to new product development based on consumer insights, with a focus on prefabricated dishes[41]. - The company aims to enhance market share by focusing on core products, targeting annual sales exceeding 500 million CNY for key products through continuous R&D and production improvements[91]. Market and Sales Performance - Domestic market revenue reached 2.337 billion yuan, accounting for 68.54% of total revenue, while international market revenue was 1.072 billion yuan, making up 31.46%[44]. - International marketing channels achieved revenue of 749 million yuan, a significant year-on-year increase, with non-U.S. market sales growing by 34% and European market export value increasing by 60%[46]. - E-commerce channels showed robust growth, with shrimp products maintaining a leading position on platforms like JD and Taobao, and black fish slices experiencing a 600% year-on-year sales increase[47]. - The restaurant heavy customer channel faced a year-on-year revenue decline but continued to provide comprehensive solutions for major restaurant chains, developing over 30 new products during the reporting period[49]. - Traditional supermarkets experienced a revenue decline, while high-end supermarkets and partnerships with Hema saw revenue growth exceeding 40% year-on-year[50]. Research and Development - The company has completed the research and development of various new products, including pre-fried shrimp chips and mixed grilled fish products, enhancing its product matrix and competitiveness[66]. - The focus on R&D is anticipated to significantly impact the company's future growth and profitability[65]. - The company aims to strengthen customer loyalty and improve revenue levels through the introduction of new products, which will also help in continuously improving product gross margins[66]. - The company has successfully completed the development of various shrimp products, including Garlic Noodle Shrimp and Thai Golden Shrimp Balls, contributing to a richer product offering[65]. - R&D investment amounted to approximately ¥141.24 million in 2024, representing 4.14% of operating revenue, an increase from 3.50% in 2023[68]. Operational Efficiency - The company has optimized its production management, resulting in increased output and reduced manufacturing costs[43]. - The company has established a comprehensive procurement system across major shrimp and seafood production areas globally, ensuring stable supply[40]. - The company has implemented a "2211" electronic supervision model for food safety management, achieving high international certifications[40]. - The company is focusing on enhancing its logistics and supply chain management to improve operational efficiency[130]. Governance and Compliance - The company has established a comprehensive governance structure in compliance with relevant laws and regulations, ensuring effective internal management and control[99]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal and regulatory requirements[105]. - The company has implemented a fair and effective performance evaluation and incentive mechanism for senior management, combining base salary with annual performance assessments[107]. - The company actively manages investor relations, ensuring timely responses to inquiries through various channels, including the investor relations management phone and interactive platforms[111]. - The company has established a complete independent business management system, ensuring no significant competition or major related transactions that could affect its business independence[118]. Environmental and Social Responsibility - The company has complied with environmental regulations, with no reported administrative penalties for environmental issues during the reporting period[168]. - The company has created over 3,000 job opportunities for local rural populations, contributing to local employment[171]. - The company has actively participated in social responsibility initiatives, including poverty alleviation and disaster relief efforts[170]. - The company has strengthened cooperation with farmers to improve the sales channels for aquaculture products, increasing local farmers' income[171]. Financial Management and Investments - The company reported a total investment of 263.72 million yuan in the Central Kitchen project, with a cumulative investment of 899.39 million yuan, achieving a return of 4.50%[76]. - The company disclosed an investment of 1,555.84 million yuan in the Guolian (Yiyang) Food project, with a cumulative investment of 3,836.02 million yuan, achieving a return of 7.67%[76]. - The company has a remaining balance of 13,328.04 million yuan in its special fund account for raised funds, which includes cash management income[80]. - The company has not engaged in any securities or derivative investments during the reporting period[77][78]. - The company plans to continue its investment strategy in production construction projects, with a focus on seafood processing and expansion[81].