Suzhou Longjie(SH:603332) Shang Hai Zheng Quan Bao·2025-04-21 20:55Core Viewpoint - The company, Suzhou Longjie, reported a significant increase in net profit and revenue for the year 2024, indicating a recovery in its financial performance despite challenges in the polyester fiber industry. Company Overview - Suzhou Longjie specializes in differentiated polyester filament and PTT fibers, with a focus on high-end markets such as faux fur and environmentally friendly fibers [4][6]. - The company has a strong R&D capability, emphasizing product innovation and differentiation to maintain competitive advantages in the market [7][81]. Financial Performance - The company achieved operating revenue of 1,678,697,835.81 yuan, a year-on-year increase of 5.01% [10]. - The net profit attributable to shareholders was 57,763,484.81 yuan, representing a substantial growth of 301.73% compared to the previous year [10]. - Earnings per share were reported at 0.27 yuan, with a return on equity of 4.61%, an increase of 3.47 percentage points year-on-year [10]. Industry Context - The polyester fiber industry faced challenges due to fluctuating raw material prices and geopolitical factors, leading to a weak demand environment [2][3]. - Despite the overall industry being characterized by excess supply, the company has focused on high-quality development and cost management to improve profitability [6][10]. - The industry is expected to stabilize in 2024, with limited new capacity and a gradual recovery in demand, particularly for differentiated and functional fibers [2][4]. Strategic Initiatives - The company is committed to enhancing its operational quality by focusing on core business areas and optimizing product structures [80]. - A "Quality Improvement and Efficiency Enhancement" action plan has been established to ensure sustainable growth and investor returns [80][82]. - The company plans to maintain a stable dividend policy while considering share buybacks to enhance shareholder value [82]. Production and R&D Focus - The company is dedicated to developing high-performance, environmentally friendly fibers, aligning with national policies on sustainability [81][84]. - Continuous investment in R&D is prioritized to innovate and meet market demands for differentiated products [7][81]. Governance and Compliance - The company emphasizes compliance with regulations and governance standards, ensuring effective oversight and risk management [83][84]. - Training programs for key personnel are implemented to enhance regulatory awareness and compliance capabilities [83].