凯恩股份2024年度网上业绩说明会问答实录

Core Viewpoint - The company held a successful online performance briefing for the fiscal year 2024, achieving a 100% response rate to investor inquiries, indicating strong engagement with stakeholders [1]. Group 1: Market Demand and Competition - The demand for electrolytic capacitor paper is not within the company's current scope as it has completed asset disposal in 2023 [2]. - The company aims to enhance brand influence and market share by focusing on sustainable development and maintaining its status as a "national-level green factory" and "Zhejiang Province's hidden champion" [3]. Group 2: Investment and Financial Performance - The significant decrease in long-term equity investment is attributed to a reduction in the company's shareholding in associated companies, which has been reclassified to other non-current financial assets [3]. - The net profit attributable to shareholders for Q4 2024 was -12,564,379.19 yuan, primarily impacted by non-recurring gains and losses; excluding these, the net profit was positive [4]. - The company's operating revenue and net profit have contracted, with a net profit of 5.74 million yuan for the year, but the adjusted net profit (excluding non-recurring items) increased by 322% to 15.16 million yuan, indicating improved stability in core operations [6]. Group 3: Industry Trends and Future Growth - The tightening of environmental policies presents challenges for the specialty paper industry but also opportunities for the company, which has achieved significant reductions in emissions and is focusing on high-end product development [5]. - The company is prioritizing stable production operations and enhancing competitiveness in high-end products and overseas markets, with future strategic developments contingent on shareholder progress [7][11]. - The company is actively pursuing opportunities in high-end product business transformation and expanding into overseas markets, particularly in Southeast Asia, where it has established a foundation for cooperation [10].