Core Viewpoint - The company is preparing for its 2024 Annual General Meeting (AGM) and has outlined the procedures and key agenda items for the meeting, including the presentation of financial results and the election of board members [1][2][4]. Meeting Procedures - The AGM is scheduled for May 29, 2025, at 14:30, in Baotou, Inner Mongolia, with both on-site and online voting options available [1][3]. - Attendees must register in advance and adhere to meeting protocols, including maintaining order and respecting the rights of other shareholders [2][4]. Financial Performance - In 2024, the company reported a net profit of CNY 136.09 million, a decrease of 19.38% from CNY 168.81 million in 2023 [4][19]. - Total revenue for 2024 was CNY 2.59 billion, down 2.32% from CNY 2.65 billion in 2023 [4][15]. - The company's total equity increased by 72.63% to CNY 2.06 billion by the end of 2024, compared to CNY 1.19 billion at the beginning of the year [4]. Board and Governance - The second board of directors consists of 9 members, including 6 non-independent directors and 3 independent directors, with various specialized committees established [5][6]. - The company plans to abolish the supervisory board, transferring its responsibilities to the audit committee of the board of directors [13]. Financial Indicators - The company’s basic earnings per share for 2024 were CNY 0.69, down from CNY 0.85 in 2023 [15]. - The weighted average return on equity decreased to 10.79% from 15.24% in the previous year [15]. - Cash and cash equivalents increased by 123.98% to CNY 848.86 million, primarily due to funds raised from the initial public offering [15][18]. Future Outlook - The company aims to continue its focus on high-performance rare earth permanent magnet materials, leveraging its advantages in the Baotou rare earth industry cluster [4][9].
天和磁材: 2024年年度股东大会会议资料