Core Viewpoint - Jiuding New Materials reported a significant increase in revenue and net profit for the fiscal year 2024, indicating strong operational performance and growth potential in the specialty glass fiber industry [1] Financial Performance - The company achieved an operating revenue of 1.423 billion yuan, with a year-on-year growth of 46.08% in net profit attributable to shareholders, amounting to 41.06 million yuan [1] - The net cash flow from operating activities reached 169 million yuan, reflecting a 77.16% increase year-on-year [1] - The company proposed a dividend of 0.14 yuan per share, with a payout ratio of 30.88%, marking a 10-year high [1] Product and Regional Performance - Revenue from glass fiber and its products was 709 million yuan, while revenue from fiberglass reinforced plastic products was 653 million yuan [1] - Revenue from regions outside mainland China amounted to 406 million yuan, showing growth and increasing its share of total revenue [1] Cost Management and Profitability - The company successfully reduced operating costs by 18.45%, leading to a 7.46% increase in operating profit [1] - The gross profit margin reached 25.88%, the highest since 2009 [1] - Selling, administrative, and financial expenses decreased year-on-year, with total period expenses at 188 million yuan, down 7.94% [1] Shareholder Changes and Future Outlook - In June 2024, Jiuding Group and its concerted parties increased their shareholding, becoming the largest shareholder, with a change in the controlling shareholder to Jiuding Group and the actual controller to Gu Qingbo [1] - The company expects operational stability to improve following the return to Jiuding Group, with a projected revenue target of 1.6 billion yuan by 2025 [1] - Research and development investment for 2024 is set at 71.29 million yuan, with 123 effective patents held [1] - The glass fiber industry is currently in a favorable cycle, with expectations for an upward shift in annual profit levels [1]