CSPM(SH:601858)2025-04-28 14:20Financial Performance - The company's operating revenue for 2024 reached RMB 2,957,963,533.55, an increase of 2.73% compared to RMB 2,879,382,709.70 in 2023[24]. - The net profit attributable to shareholders for 2024 was RMB 432,968,782.20, a decrease of 15.65% from RMB 513,298,857.73 in 2023[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 440,930,973.55, down 11.29% from RMB 497,075,475.10 in 2023[24]. - The net cash flow from operating activities for 2024 was RMB 357,145,368.29, a decline of 15.82% compared to RMB 424,263,434.73 in 2023[24]. - The total assets as of the end of 2024 amounted to RMB 7,359,511,604.92, reflecting a growth of 3.79% from RMB 7,091,080,362.13 at the end of 2023[24]. - The net assets attributable to shareholders increased to RMB 5,375,026,969.71, up 4.48% from RMB 5,144,618,057.21 in 2023[24]. - The basic earnings per share for 2024 were 0.55 yuan, a decrease of 15.38% from 0.65 yuan in 2023[25]. - The weighted average return on equity was 8.08%, down from 9.92% in the previous year[25]. - The total profit for 2024 was 499 million yuan, an increase of 0.94% compared to the previous year[36]. Dividend Policy - The company plans to distribute a cash dividend of RMB 2.74 per 10 shares, totaling RMB 216,597,000.00, which represents 50.03% of the net profit attributable to shareholders[8]. - The company has a clear cash dividend policy that prioritizes shareholder returns while ensuring sustainable business development[173]. - Over the last three accounting years, the cumulative cash dividend amount is RMB 641,886,000, with an average net profit of RMB 471,636,021.36, resulting in a cash dividend ratio of 136.10%[181]. Operational Highlights - The company achieved a total operating revenue of 2.958 billion yuan in 2024, representing a year-on-year growth of 2.73%[36]. - The company is focused on high-quality development and innovation in its core business areas amid external challenges[36]. - The company published and cooperated on 751 journals, with 182 indexed by WOS, including 107 in SCIE and 65 in ESCI[39]. - The company launched 304 digital textbooks in 2024, with the digital textbook "Biochemistry" recognized as a typical case in digital education innovation[42]. - The company exported 170 book copyrights in 2024, enhancing its international presence and influence[44]. Market and Industry Trends - The overall book retail market in China was valued at 112.9 billion, showing a year-on-year decline of 1.52%[46]. - The company is adapting to changing reading habits by shifting focus from print to digital publications, as evidenced by the declining production and sales of physical journals[75]. - The rise of Artificial Intelligence Generated Content (AIGC) technology is driving the integration of AI into the publishing industry, enhancing processes and user experiences[50]. - The continuous rise in the proportion of new media in book sales channels has led to increasing sales discounts, while production costs such as royalties and editing have not decreased, compressing profit margins for publishing institutions[138]. Strategic Initiatives - The company is committed to the "high-level, high-quality" publishing philosophy, which has established a strong competitive advantage in the technology publishing sector[57]. - The company aims to enhance its publishing capabilities by integrating AI technology into various publishing processes, improving efficiency in editing, printing, and marketing[118]. - The company plans to enhance its digital product offerings, aiming to increase the proportion of digital business revenue[122]. - The company will implement a proactive talent recruitment plan in key areas to build a high-quality professional team, supporting its strategic goals for transformation and upgrade[134]. Governance and Management - The company has a governance structure that complies with legal requirements, ensuring the protection of shareholders' rights and interests[141]. - The board of directors includes independent directors who objectively safeguard the interests of the company and its shareholders[142]. - The company has established specialized committees, including Audit, Nomination, Remuneration, Strategy, and Editorial Committees, each with designated chairs[162]. - The company has made adjustments to its board composition, with several new appointments and resignations occurring in October 2023[158]. Social Responsibility - The company has invested a total of 269.84 million yuan in external donations, providing 271,200 books to the community[192]. - The company has allocated 3.92 million yuan for poverty alleviation and rural revitalization projects, focusing on purchasing agricultural products from impoverished areas[193]. - The company is committed to not engage in any business that competes with its listed company, both domestically and internationally[194].