AGNM(SH:603429) Shang Hai Zheng Quan Bao·2025-04-26 02:16Core Viewpoint - The company, Anhui Jiyou New Materials Co., Ltd., is facing significant challenges in its traditional cigarette packaging printing business, leading to a strategic shift towards social packaging printing and the decision to permanently supplement working capital with remaining funds from terminated projects [4][10][41]. Group 1: Company Overview - Anhui Jiyou New Materials Co., Ltd. operates primarily in the packaging printing industry, which is a crucial sector in the national economy, serving various fields such as food and beverage, daily chemicals, electronics, tobacco, pharmaceuticals, and clothing [6]. - The company has reported a revenue of 457,976,137.09 yuan for the reporting period, a decrease of 30.87% year-on-year, and a net profit attributable to shareholders of -72,458,096.46 yuan, down 162.10% year-on-year [11]. Group 2: Financial Performance - The printing and recording media copying industry achieved a revenue of 6,714.8 billion yuan in 2024, with a year-on-year growth of 2.4%, while the total profit decreased by 10.4% [6]. - The company’s total assets as of December 31, 2024, amounted to 1,399,346,894.50 yuan [11]. Group 3: Strategic Decisions - The board of directors has proposed not to distribute profits or increase capital reserves for the 2024 fiscal year, reflecting a cautious approach amid declining business performance [4][5]. - The company plans to utilize the remaining funds of 240,837,646.58 yuan from a terminated project to enhance liquidity and operational capacity, following a strategic review of its business needs [41][42]. Group 4: Market Challenges - The company anticipates a significant decline in its traditional cigarette packaging business due to macroeconomic factors and reduced bidding success in recent years [7][10]. - To address these challenges, the company is optimizing its workforce and exploring new markets and products in the social packaging printing sector [10][11]. Group 5: Governance and Compliance - The company’s board and supervisory board have confirmed the accuracy and completeness of the annual report, ensuring compliance with legal and regulatory requirements [3][12]. - The decision to reallocate remaining funds from terminated projects has undergone necessary approvals from the board and supervisory board, with independent directors supporting the move [43][44].