SLKG(000019)2025-04-28 15:15Dividend Distribution - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares to all shareholders, based on a total of 1,152,535,254 shares[5]. - The total cash dividend amount (including other methods) is CNY 172,880,288.10, which accounts for 100% of the total profit distribution[126]. - The company has a profit distribution policy that emphasizes reasonable returns to investors, with a minimum of 10% of distributable profits to be distributed in cash annually[123]. - The company has not made any adjustments to its profit distribution policy during the reporting period, ensuring compliance and transparency[125]. - As of December 31, 2024, the distributable profit available to shareholders is CNY 1,388,762,768.13[127]. Business Operations and Changes - The company has undergone significant changes in its main business, expanding into grain and oil trading, processing, storage, and logistics services since February 2019[17]. - The company’s main business includes wholesale and retail of grain products, food processing, and rental services, focusing on stabilizing supply and enhancing brand strength despite market challenges[34]. - The company is transitioning from a trade-oriented model to a service-oriented model, integrating operations with strategic management to reduce risks and enhance market competitiveness[37]. - The company plans to focus on the grain and oil food main business during the 14th Five-Year Plan period, aligning with national development requirements[80]. - By 2025, the company aims to enhance its grain and oil storage and operational capabilities while optimizing its supply chain service system[81]. Financial Performance - The company's operating revenue for 2024 was CNY 5,375,089,846.91, representing a decrease of 13.17% compared to CNY 6,190,005,356.82 in 2023[18]. - The net profit attributable to shareholders for 2024 was CNY 325,309,578.52, down 6.45% from CNY 347,739,109.06 in 2023[18]. - Basic earnings per share for 2024 were CNY 0.2823, a decrease of 6.43% from CNY 0.3017 in 2023[19]. - Total assets at the end of 2024 were CNY 7,714,550,508.01, an increase of 4.21% from CNY 7,398,528,190.94 at the end of 2023[19]. - The company reported a significant decline in cash flow from operating activities in Q2 2024, with a net cash flow of negative CNY 158,531,444.41[24]. Risk Management - The company emphasizes the importance of risk management and has detailed potential risks and countermeasures in its annual report[5]. - The company faces risks from fluctuations in grain and oil prices due to external factors like the Russia-Ukraine conflict and extreme weather, which could impact profitability and inventory value[82]. - The company is focusing on risk prevention and compliance, optimizing internal control systems, and enhancing legal risk management[82]. - The company has implemented a food safety management system to ensure compliance with quality standards and regulations, covering both grain and non-grain food categories[82]. - The company is actively managing risks related to food safety and market competition to sustain its growth and operational stability[82][83]. Corporate Governance - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring effective governance and oversight[129]. - The company is committed to continuous improvement in corporate governance and compliance with relevant laws and regulations[88]. - The company emphasizes the importance of independent directors in ensuring fair and effective decision-making[145]. - The company guarantees that the target asset operates legally and complies with regulations[145]. - The company has committed to maintaining all necessary approvals and licenses for its operations, ensuring their validity and compliance[146]. Market Conditions - In 2024, global grain prices declined significantly, with wheat prices dropping from 629 cents/bushel to 551 cents/bushel, a decrease of 12.4% year-on-year[30]. - Corn prices fell from 686 cents/bushel in January 2023 to 396 cents/bushel in August 2024, a decline of 42%, ending the year at 458 cents/bushel, down 2.6% year-on-year[30]. - Domestic grain production in China reached a record high of over 700 million tons, but prices for major grains continued to decline due to weak consumption growth and international price transmission[31]. - The competitive landscape in the domestic grain and oil industry is intensifying due to the entry of foreign enterprises and the growth of regional private companies[80]. - The company is addressing market competition risks by optimizing procurement channels and enhancing brand promotion to improve market presence[83]. Research and Development - The company is committed to innovation and talent development, establishing a performance-oriented culture to drive sustainable growth and enhance competitiveness in the grain industry[37]. - R&D investment amounted to ¥52,099,502.14 in 2024, down 4.61% from ¥54,614,733.25 in 2023, while the R&D investment as a percentage of operating revenue increased from 0.88% to 0.97%[57]. - The company has a robust research and development framework, with multiple patents in tea powder and plant extraction technologies, enhancing its competitive edge in the food and beverage sector[39]. - The company has implemented a series of measures to ensure food safety and quality, including establishing a national grain quality monitoring station in Shenzhen[36]. - The company has developed and implemented over 682 testing indicators under CMA certification, enhancing its agricultural product safety testing capabilities[43]. Shareholder Information - The company held its annual shareholder meeting with a participation rate of 72.14% on May 7, 2024[92]. - The total number of shareholders increased to 42,977 from 41,498 at the end of the previous month[179]. - The top three shareholders account for 72.77% of total shares[179]. - Shenzhen Agricultural and Food Investment Holding Group Co., Ltd. holds 63.79% of shares, totaling 735,237,253 shares[179]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[183]. Legal and Compliance Matters - The company has outlined responsibilities for any legal liabilities arising from property registration issues, ensuring full compensation within 30 working days of actual loss[142]. - The company will support the registration of properties and land use rights, with a commitment to compensate for any losses due to delays in these processes[142]. - The company has committed to assisting in the deregistration of non-operating enterprises under the Shenglian Group, ensuring compliance with relevant legal procedures[141]. - The company has not faced any penalties or rectification issues during the reporting period[157]. - The company is involved in ongoing litigation with a total amount of 7,628.8 million yuan, but it is not expected to have a significant impact on the company[156].