宏柏新材(605366) - 2024 Q4 - 年度财报

Financial Performance - The company reported a net profit attributable to shareholders of the listed company as a loss for the fiscal year 2024[6]. - The company's operating revenue for 2024 reached CNY 1,477,475,520.58, representing a 6.68% increase compared to CNY 1,385,021,174.60 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY -30,867,099.41, a decrease of 147.51% from CNY 64,970,898.56 in 2023[23]. - The basic earnings per share for 2024 was CNY -0.05, a decline of 145.45% from CNY 0.11 in 2023[24]. - The company experienced a significant decrease in net profit due to intensified market competition and a decline in sales prices exceeding the reduction in costs[25]. - The company reported a decrease in non-operating income and expenses, totaling 7.31 million RMB, compared to 23.23 million RMB in the previous year[29]. - The company achieved a total revenue of CNY 1,477,475,520.58, representing a year-on-year increase of 6.68%[51]. - The net profit attributable to shareholders was CNY -30,867,100, a decrease of 147.51% compared to the previous year[51]. Cash Flow and Dividends - The company repurchased a total of 14.22 million shares for a total amount of 88.91 million yuan, which is considered as cash dividends due to the net loss for the year[6]. - The company plans not to distribute cash dividends or increase capital reserves for the fiscal year 2024, considering its financial condition and operational needs[6]. - The cash flow from operating activities for 2024 was CNY 276,625,342.51, an increase of 41.97% compared to CNY 194,844,487.00 in 2023[23]. - The company plans to distribute a cash dividend of CNY 0.04 per share, totaling CNY 24,492,205.92, which represents a cash dividend ratio of 37.70% for the year 2023[149]. - In 2024, the company will not distribute any cash dividends due to a net loss attributed to shareholders, prioritizing financial stability and long-term shareholder interests[150]. Assets and Liabilities - The total assets of the company increased by 36.59% to CNY 4,097,165,919.14 at the end of 2024, up from CNY 2,999,633,547.52 at the end of 2023[23]. - The net assets attributable to shareholders at the end of 2024 were CNY 2,101,322,754.21, a 5.66% increase from CNY 1,988,713,479.46 at the end of 2023[23]. - The company's cash and cash equivalents at the end of the period amount to ¥887,106,869.49, which is 21.65% of total assets, up 409.47% from the previous period[70]. - The company has increased its short-term borrowings to ¥237,331,465.39, a rise of 1,085.53% compared to the previous period, to meet operational needs[71]. - The accounts payable increased by 51.12% to ¥278,905,581.56, primarily due to pending payments for ongoing projects[71]. - The company has issued convertible bonds, resulting in an increase in liabilities, with the total amount of bonds payable at ¥707,060,641.60[72]. Market Position and Strategy - The company ranks among the top three in the domestic functional silanes industry and has maintained the largest market share in both global and domestic markets for its sulfur-containing silane coupling agents for six consecutive years[44]. - The company plans to continue focusing on product sales growth despite the challenges posed by the macroeconomic environment[25]. - The company is focusing on developing low VOC and biodegradable silane products in response to the "dual carbon" policy[42]. - The company aims to enhance its green circular industrial chain, optimizing production processes to reduce raw material consumption and improve environmental performance[106]. - The company plans to implement a differentiated technology strategy, focusing on high-purity/specialty silanes and providing comprehensive solutions to customers[107]. - The company is targeting increased penetration in emerging markets such as Southeast Asia and India, where demand is rapidly growing[107]. Research and Development - The company filed 11 new invention patents and obtained 2 authorized patents during the reporting period, emphasizing its commitment to innovation[36]. - Research and development expenses totaled 44,877,706.52 yuan, representing 3.04% of the operating revenue[65]. - The number of R&D personnel is 241, accounting for 15.64% of the total workforce[66]. - The company is focused on continuous innovation and collaboration with research institutions to accelerate the transformation and application of technological achievements[108]. Environmental and Safety Initiatives - The company has invested CNY 65.72 million in environmental protection initiatives during the reporting period[159]. - The company has established comprehensive pollution prevention facilities and strictly adheres to national environmental protection laws and regulations[164]. - The company has implemented carbon reduction measures, resulting in a reduction of 11,836 tons of CO2 equivalent emissions[172]. - The company has constructed a wastewater treatment plant with a daily processing capacity of 3,000 tons, currently operating at 1,000 tons per day[171]. - The company has obtained ISO 14001 environmental management system certification and pollutant discharge permits[171]. Governance and Management - The company held a temporary shareholders' meeting on January 3, 2024, to elect the third board of directors, including non-independent directors[121]. - The company approved the election of Mr. Li Hanguo, Mr. Li Haoting, and Ms. Mei Lin as independent directors during the meeting[121]. - The company has established a performance evaluation system for senior management, which includes comprehensive assessments based on annual performance and management capabilities[155]. - The company has a total of 1,541 employees, with 1,351 in the parent company and 190 in major subsidiaries[145]. - The average age of the board members is approximately 56 years, with a range from 28 to 77 years[125]. Risks and Challenges - The company faces risks related to fluctuations in raw material and energy prices, which significantly impact production costs and gross margins[112]. - Environmental protection measures are in place, but the company may face increased costs and risks associated with stricter regulations and potential pollution incidents[112]. - The company is exposed to risks from international trade policies, including tariffs and trade restrictions that could affect sales to major markets such as South Korea, Japan, and North America[112]. - There is a risk of talent loss, particularly among core technical personnel, which could adversely affect the company's technological development and competitive edge[113]. - The company's performance is subject to cyclical changes in demand for its main products, silane coupling agents and fumed silica, which could lead to profit volatility[114].