JIANGSU FENGSHAN GROUP CO.(SH:603810)2025-04-28 14:50Financial Performance - The net profit attributable to shareholders of Jiangsu Fengshan Group Co., Ltd. for the year 2024 was -38,625,401.12 RMB, showing a slight improvement of 1.36% compared to -39,159,426.56 RMB in 2023[6]. - The total operating revenue for 2024 was 1,043,719,124.23 RMB, a decrease of 12.76% from 1,196,373,565.89 RMB in 2023[24]. - The net cash flow from operating activities increased significantly by 123.37% to 155,838,907.40 RMB compared to 69,767,520.07 RMB in 2023[25]. - The total assets of the company as of the end of 2024 were 2,745,232,212.30 RMB, reflecting a 2.00% increase from 2,691,417,463.41 RMB at the end of 2023[25]. - The net assets attributable to shareholders of the company increased by 1.03% to 1,574,297,599.36 RMB compared to 1,558,235,015.21 RMB in 2023[25]. - Basic earnings per share for 2024 is -0.23 yuan, a 2.17% improvement compared to -0.24 yuan in 2023[26]. - The company reported a net cash flow from operating activities of 168,451,141.42 yuan in Q4 2024, indicating a significant recovery[28]. - Non-recurring gains and losses for 2024 totaled -2,851,502.91 yuan, with government subsidies contributing 5,093,451.83 yuan[29]. - Operating profit was reported at CNY -34,185,100, an improvement of 17.19% from the previous year's loss of CNY -41,279,400[63]. - The company's main business revenue decreased by 12.96% to CNY 1,039,093,000, primarily due to a downturn in the pesticide industry and significant price declines[65]. Shareholder Returns - The company will not distribute profits or conduct capital reserve transfers for the year 2024 due to the negative net profit[6]. - The company has outlined a three-year shareholder return plan for 2024-2026, which includes conditions for cash dividends based on positive distributable profits[6]. - The profit distribution plan for 2024 is to not distribute profits or increase capital reserves, which has been approved by the board[198]. - Due to the negative net profit, the company does not meet the conditions for cash dividends in 2024[198]. - The cash dividend policy complies with the company's articles of association and shareholder resolutions[199]. Risk Management - The company has provided a detailed risk statement regarding potential future risks in its management discussion and analysis section[9]. - The company recognizes risks related to environmental regulations and will continue to prioritize safety and environmental management to ensure stable operations[155]. - The company faces risks from raw material supply and price fluctuations, which could impact production and operational efficiency, and plans to enhance procurement strategies[156]. - The company will strengthen its international trade strategies to mitigate risks associated with export policies and currency fluctuations[159]. - The company faces risks related to fundraising projects not meeting expectations due to potential price increases in basic chemical products, which are the main raw materials for these projects[160]. Market and Product Development - The company is focusing on product quality and brand strength in the pesticide sector, emphasizing technological innovation and new product development[34]. - The company is advancing the development of new battery electrolyte products, including fast-charging and semi-solid battery electrolytes, to meet the needs of major clients in the industry[41]. - The company plans to enhance market development capabilities through technological innovation and collaborative research[35]. - The agricultural pesticide sector is experiencing a recovery in market demand since 2024, despite being in a price consolidation phase[47]. - The company is focusing on integrated development in the pesticide sector, enhancing its competitive advantage through a comprehensive approach to raw materials and formulations[134]. Corporate Governance - The company has established a governance structure that includes a board of directors, supervisory board, and senior management, ensuring clear responsibilities and regulatory compliance[165]. - The board consists of 8 members, including 3 independent directors, and operates through specialized committees to provide scientific and professional advice[166]. - The company has implemented measures to enhance investor relations and communication, including hosting quarterly online performance briefings[167]. - The company adheres to strict information disclosure regulations, with the chairman and board secretary responsible for ensuring transparency[167]. - The company has not identified any significant discrepancies between its governance practices and regulatory requirements[168]. Research and Development - The company has established several R&D platforms, including the Jiangsu Provincial Enterprise Technology Center and the Jiangsu (Fengshan) Chiral Pesticide Engineering Technology Center, to enhance its innovation capabilities[61]. - The company has received recognition as a high-tech enterprise as of 2024, with a total of 25 authorized invention patents and 2 utility model patents[61]. - The company has a strong focus on expanding its market presence through strategic partnerships and collaborations[177]. - The company is actively involved in research and development of new products and technologies to enhance its competitive edge[177]. - The company emphasizes the importance of sustainability and environmental responsibility in its business practices[177]. Operational Efficiency - The company aims to enhance operational efficiency and reduce costs by optimizing organizational structure and management levels, focusing on lean management across all value chains[39]. - The overall cost structure improved, with a significant reduction in environmental disposal fees and steam prices contributing to lower total costs[73]. - The company has implemented a performance evaluation system that emphasizes actual work efficiency and resource optimization to enhance productivity[39]. - The company plans to focus on pesticide products in 2024, with subsidiaries involved in electronic products and agricultural production[68]. - The company is committed to developing a full industrial chain of high-end fine chemicals, particularly focusing on toluene chlorination and fluorination, while exploring mergers and acquisitions to enhance market competitiveness[148].