Core Insights - The company reported a significant decline in both revenue and net profit for the fiscal year 2024, with revenue at 3.25 billion yuan, down 37.79% year-on-year, and net profit at 2.58 billion yuan, down 24.56% year-on-year [2][3]. Financial Performance - Revenue for 2024 was 3,250,800,389.88 yuan, compared to 5,225,721,163.41 yuan in 2023, reflecting a decrease of 37.79% [3]. - Net profit attributable to shareholders was 2,579,985,938.80 yuan, down from 3,419,880,869.14 yuan in the previous year, a decline of 24.56% [3]. - The net profit after deducting non-recurring gains and losses was 2,546,928,908.93 yuan, a decrease of 28.76% from 3,575,112,721.34 yuan in 2023 [3]. - The net cash flow from operating activities was 919,201,790.93 yuan, down 69.20% from 2,984,047,979.57 yuan in the previous year [3]. - Basic and diluted earnings per share were both 1.64 yuan, down 24.77% from 2.18 yuan in 2023 [3]. - The weighted average return on equity was 19.40%, down from 27.62% in the previous year [3]. Asset and Equity Position - Total assets at the end of 2024 were 15,083,281,912.76 yuan, an increase of 7.04% from 14,091,584,562.19 yuan in 2023 [3]. - Net assets attributable to shareholders were 13,865,071,905.51 yuan, up 6.18% from 13,057,776,309.67 yuan in the previous year [3]. Business Segments - The core business segments of potassium, lithium, and copper showed significant synergy, with potassium chloride production reaching 1.073 million tons, exceeding the target by 2.19% [2]. - The sales volume of potassium chloride was 1.0449 million tons, with a stable average sales cost of 1,167 yuan per ton and a gross margin of 44.83% [2]. - The lithium carbonate segment achieved a production volume of 11,600 tons and sales of 13,600 tons, with an average cost of 41,000 yuan per ton and a gross margin of 45.44% [2]. - The investment income from the associated company, Julong Copper Industry, contributed 1.928 billion yuan, accounting for 74.72% of the net profit, becoming a significant support for overall performance [2]. Resource Reserves - The company possesses rich potassium and lithium mineral resource reserves, primarily from the Chahar Salt Lake and the Laos potassium salt project [4]. - The Chahar Salt Lake is noted as the largest soluble potassium salt deposit discovered in China, while the Laos project has an estimated potassium chloride resource of approximately 984 million tons [4]. - In the lithium resource sector, the company is advancing into Tibet, with proven lithium chloride resources of about 250.11 thousand tons, equivalent to approximately 217.74 thousand tons of lithium carbonate [4]. - The company has established a "three-in-one" innovation ecosystem over two decades, enhancing its research and development capabilities [4].