SCGS(SH:600678) Xin Lang Cai Jing·2025-04-26 07:03Core Viewpoint - Sichuan Jinding (Group) Co., Ltd. reported its 2024 annual results, showing significant growth in cash flow but continued losses in net profit, indicating ongoing challenges in profitability despite some operational improvements [1]. Financial Performance Summary - Revenue Growth: The company achieved operating revenue of 356,745,012.12 yuan, an increase of 8.86% from 327,704,813.54 yuan in the previous year. The building materials sector saw a revenue increase of 34.92%, while logistics revenue grew by 58.20%. However, network freight revenue declined by 72.30% [2]. - Net Profit: The net profit attributable to shareholders was -19,188,211.48 yuan, an improvement from -41,236,978.21 yuan the previous year, indicating reduced losses but still facing significant challenges [3]. - Deducted Non-Recurring Profit: The deducted net profit was -18,699,572.25 yuan, showing a similar trend to net profit, highlighting weak core business profitability [4]. - Earnings Per Share: Basic earnings per share were -0.0550 yuan, improved from -0.1182 yuan, reflecting a reduction in losses but still negative returns for shareholders [5]. - Cash Flow: The net cash flow from operating activities surged to 109,386,644.93 yuan, a 1111.55% increase from 9,028,624.51 yuan, indicating strong cash generation from core operations [13]. Expense Analysis - Sales Expenses: Sales expenses decreased by 17.31% to 1,837,259.31 yuan, primarily due to reduced business expenses [7]. - Management Expenses: Management expenses rose by 25.04% to 54,192,742.31 yuan, driven by increases in labor costs and depreciation [8]. - Financial Expenses: Financial expenses slightly decreased by 8.28% to 18,203,897.47 yuan, influenced by changes in interest expenses due to new loans and repayments [9]. - R&D Expenses: R&D expenses increased significantly by 76.43% to 2,351,797.08 yuan, reflecting the company's commitment to innovation and new product development [10]. Investment and Financing Activities - Investment Cash Flow: The net cash flow from investing activities was -193,459,173.85 yuan, an increase in outflows due to active project investments [14]. - Financing Cash Flow: The net cash flow from financing activities grew by 16.51% to 120,197,947.78 yuan, indicating successful fundraising efforts to support business development [16]. Management Compensation - Executive Compensation: The chairman received a pre-tax compensation of 1,223,500 yuan, while the general manager received 1,125,100 yuan. The compensation levels should align with the company's performance and strategic goals [21][22].