HBYH(000422) 长江商报·2025-04-08 00:42Core Viewpoint - Hubei Yihua (000422.SZ) has significantly improved its profitability through continuous enhancement of industrial chain collaboration, despite a slight decline in revenue for 2024. Group 1: Financial Performance - In 2024, Hubei Yihua achieved operating revenue of 16.964 billion yuan, a slight decrease of 0.48% year-on-year, while net profit attributable to shareholders reached 653 million yuan, an increase of 44.32% [1][2] - The company plans to distribute a cash dividend of 2 yuan per 10 shares, totaling 217 million yuan, which accounts for 33.18% of the net profit for 2024 [5] - The total assets of the company at the end of 2024 were 26.713 billion yuan, a year-on-year increase of 24.40%, and the equity attributable to shareholders was 7.362 billion yuan, up 11.88% [2] Group 2: Business Strategy - Hubei Yihua focuses on its core business by repurchasing minority stakes in its subsidiary Yihua Fertilizer, investing in phosphate and ammonium projects, and divesting low-relevance assets [1][2] - The company aims to achieve an operating revenue of no less than 18 billion yuan in 2025 by optimizing resource allocation and enhancing operational efficiency [1] Group 3: Product and Market Position - Hubei Yihua is a leading player in the nitrogen fertilizer industry, with urea production capacity of 1.56 million tons per year and a market share ranking fourth in the country for diammonium phosphate [2] - The company has a PVC production capacity of 720,000 tons per year, ranking among the top ten in China, and a global second position in the production of pentaerythritol [2] Group 4: Research and Development - The company emphasizes R&D, with R&D expenses reaching 813 million yuan in 2024, a year-on-year increase of 10.45% [3] - Hubei Yihua has developed new products and technologies, including a high-purity gypsum production process and various specialty resins [3] Group 5: Shareholder Returns - Hubei Yihua has established a dual-driven system of "cash dividends + market value management" to enhance shareholder returns [5] - The company has committed to a cash dividend totaling no less than 30% of the annual net profit for the next three years, ensuring a consistent return to investors [5]