江瀚新材(603281) - 2024 Q4 - 年度财报

Financial Performance - In 2024, the company's operating revenue was CNY 221,625.85 million, a decrease of 2.69% compared to 2023[21]. - The net profit attributable to shareholders was CNY 60,211.17 million, down 8.03% from the previous year[21]. - The net cash flow from operating activities decreased by 25.45% to CNY 53,283.16 million[21]. - The basic earnings per share for 2024 was CNY 1.62, reflecting a decline of 8.99% compared to 2023[22]. - The weighted average return on equity decreased by 2.44 percentage points to 12.40%[22]. - The company achieved operating revenue of 2.216 billion yuan, a year-on-year decrease of 2.69%[34]. - The net profit for the period was 602 million yuan, down 8.03% year-on-year, while the non-net profit was 568 million yuan, a decline of 11.71%[34]. - The company reported a total revenue of 200,447,815 with a decrease of 3,365,482 compared to the previous period, indicating a decline in performance[115]. Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per share (including tax), totaling approximately 371.29 million RMB based on the total share capital of 371,293,334 shares as of December 31, 2024[6]. - The company distributed a cash dividend of 1.0055 CNY per share, totaling 373,335,447.34 CNY, with a cash dividend ratio of 57.03%[137]. - The company plans to distribute at least 30% of the annual distributable profit as cash dividends, as per the revised cash dividend policy[137]. - The net profit attributable to ordinary shareholders in the most recent fiscal year was 602,111,738.43 CNY, with a cash dividend payout ratio of 61.67%[140]. - The cumulative cash dividend amount over the last three fiscal years was 1,064,628,781.74 CNY, with an average cash dividend payout ratio of 139.06%[142]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with laws and regulations, and enhancing operational transparency[109]. - The board of directors includes three independent directors, constituting one-third of the total board, ensuring independent oversight[109]. - The company has a performance evaluation and incentive mechanism in place for its senior management, promoting transparency and compliance with legal standards[111]. - The total pre-tax compensation for the chairman is approximately 9.95 million RMB, while the total for the general manager is about 9.88 million RMB[113]. - The company has a dedicated investor relations management system to facilitate communication with investors through various channels[110]. Risk Management - The company emphasizes that forward-looking statements in the report do not constitute substantive commitments to investors, highlighting the importance of investment risk awareness[7]. - The company has detailed risk factors in the report, particularly in the section discussing future developments and potential risks[10]. - The company is facing challenges in meeting future demand due to existing production capacity constraints[44]. - The company is exposed to foreign exchange risks due to high export revenue, with potential significant exchange gains or losses from RMB fluctuations[108]. - The company has implemented measures to hedge against RMB exchange rate risks using foreign exchange derivatives[107]. Research and Development - The company applied for 7 invention patents and obtained 2 authorized patents, bringing the total to 65 authorized patents by the end of 2024[32]. - The company has 123 R&D personnel, accounting for 12.37% of the total workforce[67]. - The company is focusing on R&D to develop high-value-added products and improve production processes[98]. - The company has achieved self-sufficiency in trichlorosilane production, enhancing quality control and supply assurance[96]. - The company plans to strengthen its research and development in functional silanes to maintain a competitive edge amid increasing market competition[101]. Environmental Management - The company has implemented a dual prevention mechanism for safety and environmental protection, achieving zero major safety incidents during the reporting period[33]. - The company has been awarded the provincial "Green Factory" title and the ECOVADIS silver medal for its environmental management efforts[33]. - The company is committed to sustainable development and aims to improve product technology content[96]. - The company has established an environmental protection management system and passed the ISO14001 environmental management system certification[150]. - The company invested approximately 15.86 million yuan in environmental protection during the reporting period[147]. Market Position and Strategy - The company maintained a leading position in the functional silane industry, with a global market share of 1st place in 2023[37]. - The functional silane industry is expected to grow, with domestic consumption projected to reach 385,000 tons by 2028, up from 250,000 tons in 2023[36]. - The company has established long-term strategic partnerships with major global tire manufacturers, exporting to over 80 countries[43]. - The company plans to enhance its market presence in the tire industry and expand into Asia, Europe, and the Middle East[98]. - The company is actively pursuing mergers and acquisitions to strengthen its market position[116]. Operational Efficiency - The company achieved a 12.19% year-on-year increase in product sales volume, effectively offsetting the impact of price declines[31]. - The unit material consumption cost was reduced by CNY 13.2 per ton, saving CNY 3.1816 million in energy costs[31]. - The company maintained a product first-pass yield rate of 99.08%[31]. - The production and sales volume reached 117,800 tons and 117,100 tons, respectively, with year-on-year growth of 13.01% and 12.19%[34]. - The company is committed to expanding its production capacity and improving operational efficiency to capture market opportunities[44]. Compliance and Legal Matters - The company has not faced any major litigation or arbitration matters during the reporting period[183]. - There are no significant violations or penalties against the company or its executives during the reporting period[183]. - The company will continue to monitor compliance with commitments made during the IPO process and will take legal measures if necessary[179]. - The company has established long-term commitments to avoid conflicts of interest in related party transactions[163]. - The actual controller will not engage in any competitive business activities during their control period[162].