TIANMA TECH(SH:603668)2025-04-29 15:23Financial Performance - In 2024, the total cash dividend distributed by the company amounted to 20,093,429.64 RMB, accounting for 77.19% of the net profit attributable to shareholders of the listed company[10]. - The company did not distribute cash dividends or issue bonus shares for the 2024 fiscal year[10]. - The company's operating revenue for 2024 was approximately ¥5.85 billion, a decrease of 16.34% compared to ¥6.99 billion in 2023[28]. - Net profit attributable to shareholders for 2024 was approximately ¥26.03 million, a significant recovery from a loss of ¥187.55 million in 2023[28]. - Basic earnings per share for 2024 improved to ¥0.05, compared to a loss of ¥0.39 per share in 2023[29]. - The weighted average return on equity increased to 1.18%, up 10.70 percentage points from -9.52% in 2023[29]. - The company's net assets attributable to shareholders increased by 1.19% to approximately ¥2.24 billion compared to ¥2.21 billion in 2023[28]. - The total assets at the end of 2024 were approximately ¥9.02 billion, a slight decrease of 0.61% from ¥9.08 billion in 2023[28]. - The total profit amounted to CNY 5,597.75 million, an increase of CNY 21,948.49 million year-on-year[159]. - The net profit attributable to the parent company reached CNY 2,603.27 million, up by CNY 21,358.69 million from the previous year[159]. Audit and Compliance - The company reported a standard unqualified audit opinion from Rongcheng Accounting Firm for the fiscal year[9]. - The board of directors and supervisory board members confirmed the authenticity, accuracy, and completeness of the annual report[7]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[12]. - There are no violations of decision-making procedures for providing guarantees to external parties[12]. - The company's financial report is prepared in accordance with the relevant accounting standards and regulations[9]. Strategic Planning and Risk Management - The company plans to authorize the board to decide on the mid-term profit distribution plan for 2025, with cash dividends not exceeding 20% of the net profit for the period[10]. - The company has detailed risk descriptions related to its future development in the management discussion and analysis section[13]. - The company's future strategic and operational plans are subject to risks and do not constitute substantial commitments to investors[11]. Business Operations and Revenue Streams - The company achieved a historic breakthrough in eel output, with significant growth in the smart aquaculture business contributing to stable profit[31][32]. - The sales volume of grilled eel products saw a substantial year-on-year increase, marking a new phase of rapid growth in the food business[31]. - The smart aquaculture business generated revenue of approximately CNY 821.35 million, a significant increase of 321.39% year-on-year, accounting for 14.03% of total revenue[43]. - The health food business reported revenue of approximately CNY 366.93 million, a year-on-year growth of 109.31%[46]. - The company expanded its product offerings, achieving a 133.75% increase in grilled eel sales, totaling approximately 3,404.53 tons[46]. - The company’s feed business achieved sales revenue of approximately 4.54 billion yuan, accounting for 77.47% of total revenue, with special aquatic feed and poultry feed contributing 19.86% and 57.62% respectively[47]. - The sales revenue from the feed industry was CNY 5,182.99 million, a decrease of 25.41% year-on-year, while the gross margin increased by 0.98 percentage points[167]. Research and Development - The company is committed to enhancing its core competitiveness through continuous investment in research and development, focusing on key species like eel and California sea bass[52]. - The company has established strategic partnerships with universities and research institutions, enhancing its technology strategy and talent cultivation[55]. - The company has received several awards for its innovative products, including the "Fujian Province Patent Award" and "Fujian Province Technology Invention Award" for its research on new feed formulations[53]. - The company has developed nine series of animal health products, covering the needs of various aquatic species, enhancing customer loyalty and product value[125]. - The company’s research and development efforts have led to significant breakthroughs in feed technology, improving growth performance for aquaculture farmers[134]. Market and Industry Trends - The eel industry in China has an annual output value exceeding 30 billion yuan, with China being the largest producer globally, accounting for 80% of the world's eel production[72]. - The aquaculture industry is transitioning towards scale, intensification, industrialization, greening, and smart technology[68]. - The domestic demand for grilled eel in China is estimated to be around 20,000 to 30,000 tons annually, showing a trend of increasing consumption[93]. - The number of aquatic product processing enterprises in China reached 9,433 in 2023, with only 28.90% being large-scale enterprises[87]. - The company is focusing on building a world-class full industry chain food supply platform, enhancing its global sales channels[44]. Sustainability and Quality Control - The company is committed to ecological and green development strategies in its livestock and poultry farming operations[45]. - The company adheres to quality management principles, implementing ISO9001, ISO22000, HACCP, and ISO14001 standards to ensure high-quality production processes[59]. - The company is focusing on modernizing and standardizing its eel farming practices, aiming to establish a national-level modern agricultural high-tech industrial park for eels in China[133]. - The company’s live eel products are subjected to advanced DNA testing and strict quality control measures to ensure product safety and quality[133]. Sales and Marketing Strategies - The company has developed a nationwide marketing network with sales centers in cities like Fuzhou, Hangzhou, Shanghai, and Chongqing, covering the Fujian and Guangdong markets, the Yangtze River Delta, and the central and western regions[120]. - The sales strategy includes a three-tier management model for eel sales, combining direct sales and distribution to meet market demands[139]. - The company has expanded its domestic sales channels, leveraging e-commerce platforms and new retail strategies, with a focus on personalized consumer engagement[141].