C&S(SZ:002511) Zheng Quan Ri Bao·2025-04-24 23:10Core Viewpoint - The company, Zhongshun Jierou Paper Co., Ltd., has announced its financial results and plans for profit distribution, including a proposal not to distribute cash dividends for the 2024 fiscal year, which is aimed at ensuring sufficient liquidity for operations and future growth [12][13][17]. Financial Data Summary - The company reported a total revenue of CNY 1,914,305,949.04 and a net profit of CNY 415,402,466.47 for the fiscal year 2024 [17]. - The retained earnings at the beginning of the year were CNY 876,613,832.33, and after accounting for various adjustments, the distributable profits amounted to CNY 1,173,812,762.21 [17]. Changes in Financial Metrics - Accounts receivable financing decreased by CNY 5,669,385.78, a decline of 55.04%, primarily due to a reduction in bank acceptance bills [4]. - Prepayments increased by CNY 19,615,961.13, up 73.34%, attributed to higher advance payments for materials [5]. - Other current assets rose by CNY 300,901,785.99, an increase of 82.02%, due to an increase in large certificates of deposit [5]. - Contract liabilities decreased by CNY 82,988,803.68, down 61.14%, due to a reduction in customer advance payments [5]. Profit and Loss Statement Changes - R&D expenses decreased by CNY 28,859,145.63, a drop of 44.35%, due to reduced investment in research and development [6]. - Financial expenses increased by CNY 9,409,251.11, up 450.52%, mainly due to higher interest expenses and foreign exchange losses [6]. - Other income decreased by CNY 8,536,132.05, down 41.02%, primarily due to a reduction in government subsidies [6]. - Investment income fell by CNY 4,167,982.02, a decline of 316.12%, due to decreased returns from financial products [6]. Cash Flow Statement Highlights - Net cash flow from operating activities increased by CNY 174,371,539.90, up 120.55%, mainly due to reduced payments for employee compensation and taxes [8]. - Net cash flow from financing activities decreased by CNY 304,520,693.49, down 49.22%, due to reduced cash received from borrowings and increased cash payments for debt repayment [8]. Shareholder Information - The company has proposed not to distribute cash dividends, not to issue bonus shares, and not to increase capital from reserves for the 2024 fiscal year [13][17]. - The proposal for profit distribution is subject to approval at the upcoming annual general meeting [16][20]. Accounting Policy Changes - The company has announced changes in accounting policies in accordance with new regulations issued by the Ministry of Finance, which will not have a significant impact on its financial status or results [21][22][28].