Core Viewpoint - The company remains confident in its main business despite industry challenges, leveraging its competitive advantages in the textile dyeing and gold jewelry sectors [2][3]. Financial Performance - In the 2024 annual report, the company achieved a revenue of 11.468 billion yuan, a year-on-year increase of 18.65% [2]. - The net profit attributable to shareholders was 719.71 million yuan, reflecting a growth of 5.04% [2]. - The company plans to distribute a cash dividend of 3 yuan per 10 shares (tax included) and has implemented a share buyback, with the total amount for dividends and buybacks accounting for 72.95% of the net profit [2]. Business Segments - The textile dyeing business generated revenue of 3.938 billion yuan, up 3.82% year-on-year, with a total profit of 579 million yuan, a slight decrease of 0.17% [2]. - The sales profit margin for the dyeing business was 14.70%, exceeding the industry average by 9.19 percentage points [2]. - The gold jewelry segment sold 87.05 tons, a year-on-year increase of 24.82%, with revenue of 7.036 billion yuan, up 31.97% [3]. - The profit from gold jewelry reached 202 million yuan, marking a significant increase of 54.82% [3]. Market Strategy - The company is focusing on product innovation and optimization, developing 8,012 new products in 2024 and acquiring a 65% stake in Shenzhen Shangjinyuan Jewelry for 338 million yuan [3]. - The company aims to meet consumer demands for high-quality, lightweight, and stylish gold jewelry, adapting to market trends and consumer sentiment [3][4]. - The overseas revenue accounted for 1.406% of total income, indicating a cautious approach towards international market expansion [4].
航民股份:用创新打开成长空间