CCGB(SZ:300138) Xin Lang Cai Jing·2025-04-09 12:14Core Viewpoint - Morning Light Bio (300138.SZ) reported its 2024 annual performance and 2025 Q1 performance forecast, highlighting a revenue increase but a significant profit decline due to asset impairment and market conditions [1][5]. Financial Performance Summary - In 2024, the company achieved operating revenue of 6.994 billion yuan, a year-on-year increase of 1.79%, but the net profit attributable to shareholders was 94.05 million yuan, a decrease of 80.39% [2][3]. - The net profit after deducting non-recurring gains and losses was 44.26 million yuan, down 87.95% year-on-year [2][3]. - The company reported a net cash flow from operating activities of -222.81 million yuan, an improvement of 62.14% compared to the previous year [2][3]. - The total assets at the end of 2024 were 9.02 billion yuan, up 5.66% from the end of 2023, while the net assets attributable to shareholders decreased by 10.40% to 3.11 billion yuan [2][3]. Product Performance Summary - Revenue from natural pigments/spices/nutritional and medicinal products was 3.13 billion yuan, up 8.25%, while the gross margin decreased by 4.54% to 15.39% [3][4]. - Revenue from cottonseed-related businesses was 3.48 billion yuan, down 2.07%, with a gross margin of only 0.18%, a decline of 3.48% [3][4]. Asset Impairment and Future Outlook - The company recognized an asset impairment loss of 95.16 million yuan for 2024, impacting total profit and equity [5][6]. - For Q1 2025, the company expects a net profit of 90 million to 120 million yuan, representing a year-on-year increase of 133.21% to 210.95% [5][6]. Dividend Distribution - Morning Light Bio plans to distribute a cash dividend of 1.30 yuan per 10 shares, totaling approximately 62.80 million yuan [7][9]. Daily Operations and Related Transactions - The company anticipates daily related transactions not exceeding 60.15 million yuan for 2025, with specific transactions outlined with associated companies [12][15]. - Morning Light Bio plans to use up to 1.3 billion yuan of idle funds for low-risk financial products, and intends to engage in foreign exchange forward locking business not exceeding 80 million USD [15][16].