绿康生化(002868) - 2024 Q4 - 年度财报

Financial Performance - The net loss for 2024 was CNY 444.86 million, with a net loss of CNY 464.47 million after deducting non-recurring gains and losses[7]. - The company has experienced negative net profits for three consecutive years, with 2022 and 2023 losses of CNY 121.94 million and CNY 221.82 million, respectively[7]. - The net profit attributable to shareholders for 2024 was -¥444,864,018.29, a decline of 100.55% from -¥221,817,878.58 in 2023[27]. - The company's operating revenue for 2024 reached ¥649,373,107.41, representing a 28.08% increase compared to ¥507,004,856.86 in 2023[27]. - The basic earnings per share for 2024 was -¥2.86, compared to -¥1.44 in 2023, reflecting a 98.61% decline[28]. - The company reported a total loss of ¥428,149,962.79, primarily due to low gross margins in the photovoltaic film sector and significant fixed asset impairments[56]. Assets and Liabilities - As of December 31, 2024, the company's total current liabilities exceeded current assets by CNY 1.03 billion, and the net assets were negative CNY 24.54 million[4]. - The total assets at the end of 2024 were ¥1,491,670,606.60, down 24.09% from ¥1,965,009,357.76 at the end of 2023[28]. - The company's net assets attributable to shareholders turned negative at -¥26,267,391.62 by the end of 2024, a decrease of 106.39% from ¥411,287,522.61 in 2023[28]. - The company reported a net asset of -24,536,065.37 RMB at the end of 2024, triggering a delisting risk warning as per the Shenzhen Stock Exchange regulations[105]. Operational Challenges - The company plans to implement a risk warning for its stock due to negative net assets and continuous operating uncertainties[6]. - The company has highlighted significant risks in its future operations, which investors should be aware of[4]. - The company is currently in negotiations regarding a potential change in control, which carries significant uncertainty[7]. - The company has reported uncertainty regarding its ability to continue as a going concern due to negative net profits over the last three years[28]. Revenue Streams - The revenue after deducting certain income was ¥610,679,900.22 for 2024, compared to ¥489,932,458.50 in 2023[27]. - The revenue from the photovoltaic film business reached ¥231,301,932.52, representing a 60.89% increase year-over-year[61]. - The veterinary medicine segment reported revenue of 351,490,551, an increase of 7.35% year-over-year[63]. - Domestic sales accounted for ¥455,926,086.87, up 31.36% from the previous year, while international sales increased by 20.97% to ¥193,447,020.54[61]. Research and Development - Research and development expenses increased by 29.16% to 35,557,483.16, reflecting higher investment in photovoltaic film development[72]. - The company has several ongoing R&D projects aimed at optimizing production processes and enhancing product competitiveness, including RD39 and RD37 for Avilamycin and Monensin production[73]. - The company is currently developing new products like thermoplastic POE film and HJT light conversion film to enhance product variety and market competitiveness[74]. - The company has not capitalized any R&D investments in both 2023 and 2024, maintaining a 0.00% capitalization rate[74]. Environmental Compliance - The company has received approval for various environmental impact reports, including a project for producing 1200 tons of active microbial additives annually, which was approved in September 2022[176]. - The company’s wastewater treatment project at the Putan plant completed its environmental protection acceptance in April 2023, indicating compliance with environmental standards[176]. - The company has successfully renewed its pollution discharge permits in September 2023, ensuring continued compliance with environmental laws[177]. - The company has established emergency response plans for environmental incidents, with the latest revisions completed in March 2023[181]. Governance and Management - The company has established a complete independent business system and operational capabilities, ensuring independence from its controlling shareholder[115]. - The governance structure of the company is in line with the requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[114]. - The company has maintained a consistent board of directors and supervisory board with no significant changes in personnel[120]. - The company has a strict remuneration decision-making process based on its articles of association and performance evaluations[133]. Market Strategy - The company is actively pursuing market expansion strategies, including potential mergers and acquisitions, as part of its growth initiatives[118]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[124]. - The company is committed to establishing stable supply chain partnerships with major domestic livestock groups to mitigate procurement risks[98]. - The company is focusing on enhancing the quality and reliability of its existing products to strengthen market competitiveness[97].