Core Viewpoint - Lier Chemical's 2024 annual performance shows a significant decline in revenue and profit, indicating ongoing challenges in the pesticide industry due to intense competition and market conditions [1][2]. Financial Performance - Revenue for 2024 was 7.311 billion yuan, a year-on-year decrease of 6.87% - Profit was 215 million yuan, down 64.34% year-on-year, marking the lowest profit level since 2017 - Gross margin was 16.06%, compared to 23.34% in the previous year [1]. Market Conditions - The pesticide industry has not shown significant recovery in 2024, with continued intense competition and most pesticide product prices remaining at low levels - Market inventory is gradually returning to normal, but overall supply exceeds demand, impacting industry development [1]. - The price for glyphosate raw materials is reported at 47,000 yuan/ton, while refined glyphosate raw materials are priced at 72,000 yuan/ton [1]. International Sales - International sales revenue for 2024 was 3.437 billion yuan, accounting for 47.01% of total revenue - This represents a decline from 6.158 billion yuan (60.76% of total revenue) in 2022 and 3.958 billion yuan (50.42% of total revenue) in 2023 [2]. Shareholder Information - The company plans to implement a profit distribution plan of "10 for 2 yuan (including tax)" for a total dividend of 160 million yuan - Shanghai Yuanhong Investment Management Co., Ltd. has become the seventh largest shareholder with 5.3327 million shares, valued at approximately 49.11 million yuan [3]. Future Outlook - The company anticipates significant adjustments in the supply structure of the industry, with opportunities arising from supply contraction and the introduction of new products - The global pesticide market is expected to show steady growth due to increasing food demand driven by population growth and the rapid development of genetically modified crops [3].