MESNAC(002073) 新浪财经· Xin Lang Cai Jing·2025-05-06 00:36Core Viewpoint - The company is expected to achieve record high net profit attributable to shareholders in 2024, driven by the growth of rubber equipment and new materials businesses, with significant revenue and profit increases reported [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 7.178 billion yuan, a year-on-year increase of 27.10%, and a net profit attributable to shareholders of 506 million yuan, up 51.94% year-on-year [1][2]. - The weighted average return on equity (ROE) was 9.26%, an increase of 2.63 percentage points year-on-year, while the sales gross margin was 23.44%, down 2.56 percentage points year-on-year [1][2]. - For Q4 2024, the company reported revenue of 2.3 billion yuan, a year-on-year increase of 16.72%, and a net profit of 163 million yuan, up 31.80% year-on-year [3][4]. Business Segments - The rubber equipment system business generated revenue of 4.753 billion yuan in 2024, a year-on-year increase of 18.21%, while the rubber new materials business achieved revenue of 2.386 billion yuan, up 50.35% year-on-year [2]. - The company is advancing its investment in the petrochemical and fine chemical industry, with a planned investment of 308 million yuan for a new project in Panjin [2]. Cost and Expenses - In 2024, the company's selling, administrative, research and development, and financial expense ratios were 1.80%, 6.72%, 5.66%, and 0.47%, respectively, showing a decrease compared to the previous year [3]. - The net cash flow from operating activities was 916 million yuan, a significant increase of 295.89% year-on-year, attributed to higher cash inflows from operations [3]. Future Outlook - The company has set a dividend payout ratio of no less than 30% for the next three years, balancing long-term development and shareholder returns [6]. - Revenue forecasts for 2025-2027 are projected at 10.090 billion, 11.090 billion, and 11.694 billion yuan, with net profits of 768 million, 869 million, and 923 million yuan, respectively [7].