JiuWu Hi-Tech(SZ:300631)2025-10-17 08:42Dividend and Financial Performance - The company plans to distribute a cash dividend of 1.8 RMB per 10 shares (including tax) to all shareholders based on the total share capital on the dividend distribution date [4]. - The company’s profit distribution plan includes no bonus shares, focusing solely on cash dividends [4]. - The company's operating revenue for 2024 was ¥533,286,878.20, a decrease of 29.55% compared to ¥756,999,521.77 in 2023 [22]. - Net profit attributable to shareholders for 2024 was ¥53,015,388.07, an increase of 16.90% from ¥45,350,453.73 in 2023 [22]. - The cash flow from operating activities for 2024 was ¥93,991,028.56, up 78.41% from ¥52,682,213.10 in 2023 [22]. - The total assets at the end of 2024 were ¥1,929,053,493.24, reflecting a 1.90% increase from ¥1,893,031,949.03 at the end of 2023 [22]. - The company reported a basic earnings per share of ¥0.4319 for 2024, a 16.76% increase from ¥0.3699 in 2023 [22]. - The company’s net profit excluding non-recurring gains and losses for 2024 was ¥47,192,676.09, a 20.09% increase from ¥39,297,675.63 in 2023 [22]. - The company recorded a total of ¥5,822,711.98 in non-recurring gains for 2024, compared to ¥6,052,778.10 in 2023 [29]. - The company’s total liabilities and equity increased by 2.10% to ¥1,245,460,188.78 at the end of 2024 from ¥1,219,884,378.28 at the end of 2023 [22]. - The company’s weighted average return on equity for 2024 was 4.35%, up from 3.72% in 2023 [22]. Corporate Governance and Transparency - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report [5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management [4]. - The company has a clear governance structure with designated roles for its board secretary and securities affairs representative [18]. - The company has a commitment to transparency and accountability in its financial disclosures [4]. - The company has established specialized committees within the board, including a strategic committee and an audit committee, to provide professional oversight and guidance [150]. - The company has implemented a robust internal audit system to enhance governance and ensure the achievement of operational goals [155]. - The company has engaged in investor relations activities, discussing its 2023 performance and future strategies with various institutional investors [142]. - The company has improved information disclosure practices, ensuring timely and accurate communication with investors [154]. - The company has established a performance evaluation system linking the compensation of senior management to their performance, ensuring accountability and motivation [153]. - The company has a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder interests and maintaining operational independence from its controlling shareholder [147]. Research and Development - The company has established a complete R&D system for separation materials and technologies, continuously developing new products and technologies to support sustainable growth [56]. - The company has established eight provincial-level or above R&D innovation and talent training platforms, enhancing its technological capabilities in membrane materials and lithium adsorbents [58]. - The company has successfully developed and launched the fourth generation aluminum-based lithium adsorbent, with an adsorption capacity increase of 30%-50% compared to the previous generation [75]. - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives [170]. - The company plans to enhance its research and development efforts in materials such as ceramic membranes and organic membranes to expand its business scale in various application areas [125]. - The R&D department is focusing on developing new technologies that are projected to reduce costs by G% over the next two years [180]. - The company has developed multiple core technologies in membrane separation, with most being at a leading domestic or advanced international level, and has implemented measures to protect these technologies from leakage [141]. Market and Industry Position - The company operates in the high-performance separation membrane materials sector, which is recognized as a key strategic material in the national development guidelines [31]. - The company has made significant progress in the membrane industry, benefiting from government policies and rapid technological advancements, leading to steady growth in industry output value [33]. - The company is recognized as a leading enterprise in the ceramic membrane industry, having received multiple national awards and certifications, including being named a national-level green factory [42]. - The company’s high-flux ceramic membranes are expected to see rapid growth in urban water supply renovation projects and industrial wastewater "zero discharge" solutions [40]. - The company is recognized for its innovative and efficient solutions in the lithium extraction industry, becoming a preferred partner for several domestic lithium resource enterprises [60]. - The company has made significant progress in overseas markets, winning multiple projects in India, Indonesia, South Korea, and Kazakhstan [76]. - The company is actively involved in the development of new technologies and products, aiming to enhance its competitive edge in the market [176]. Financial Management and Investment - The company has committed to ensuring the efficient use of raised funds to support ongoing business development and project implementation [125]. - The company has adjusted the investment progress for the "High-Performance Filter Membrane Component and Device Industrialization Project" to be completed by December 2022, but has faced challenges in finding a suitable construction site [125]. - The company plans to use all unutilized raised funds for the lithium adsorption separation material project and titanium gypsum resource project [127]. - The company has faced delays in the "solid hazardous waste intelligent cloud warehouse comprehensive service project" due to market promotion progress and macroeconomic conditions, leading to a slow implementation pace [128]. - The company aims to enhance fundraising efficiency by reallocating 3,470.95 million yuan from the "solid hazardous waste intelligent cloud warehouse comprehensive service project" to supplement liquidity [128]. - The company has established an independent financial department with dedicated personnel, ensuring a separate financial accounting system and independent financial decision-making [159]. Employee and Management Structure - The total number of employees at the end of the reporting period is 564, including 448 from the parent company and 116 from major subsidiaries [198]. - The professional composition includes 263 production personnel, 38 sales personnel, 190 technical personnel, 13 financial personnel, and 60 administrative personnel [200]. - The educational background of employees shows 79 with master's degrees or above, 181 with bachelor's degrees, 114 with associate degrees, and 190 with high school or below [200]. - The company has a diverse board with members holding significant experience in finance, engineering, and management, enhancing its strategic decision-making capabilities [168]. - The company has appointed several independent directors to strengthen governance and oversight, ensuring compliance and strategic alignment [173]. - The company’s management team includes several vice presidents with remuneration ranging from 630,600 to 987,600 yuan [190]. Risks and Challenges - The company faces competition risks from peers in the membrane separation industry, which may impact profit margins [137]. - The company is exposed to downstream industry volatility risks, which could affect fixed asset investments and procurement of membrane integration technology solutions [139]. - The company anticipates an increase in accounts receivable due to the expansion of its business, with a focus on improving collection management and assessing customer credit to mitigate risks [140].