Group 1 - The company achieved operating revenue of 1.098 billion yuan in FY24, a year-on-year increase of 10.40%, and a net profit attributable to shareholders of 175 million yuan, up 1.81% year-on-year [1] - In Q4 of FY24, the company reported operating revenue of 259 million yuan, a slight decline of 0.36% year-on-year, and a net profit attributable to shareholders of 26 million yuan, down 18.77% year-on-year [1] - The company plans to distribute an annual dividend of 0.8 yuan per share, resulting in a total dividend payout of 1 yuan per share for FY24, with a payout ratio of 83% [1] Group 2 - The seasoning food segment showed steady growth, with revenues from seasoning foods, seasoning ingredients, and other businesses reaching 625 million, 462 million, and 10 million yuan respectively in FY24, representing year-on-year increases of 12.12%, 6.60%, and 250% [2] - The company expanded its distribution channels, with the number of distributors increasing to 2,207 by the end of FY24, an increase of 112 from H1 [2] Group 3 - The company's gross margin for FY24 was 41.7%, while Q4 gross margin was 38.4%, reflecting a year-on-year change of +0.14 and -3.21 percentage points respectively [3] - Rising costs were attributed to increased prices of raw materials such as scallions and mushrooms, while sales expenses increased due to greater investment in e-commerce channels [3] - The net profit margin for FY24 was 16.0%, down 1.35 percentage points year-on-year, and the net profit margin excluding non-recurring items was 15.19%, down 1.28 percentage points [3] Group 4 - The company aims for continuous positive growth in main business revenue for FY25, with a focus on enhancing the consumer experience for its scallion oil products [4] - The company emphasizes shareholder returns, maintaining a high dividend payout ratio of 83% for FY24 [4] Group 5 - Revenue forecasts for FY25 and FY26 have been adjusted down to 1.213 billion and 1.335 billion yuan respectively, with EPS estimates also revised down to 1.34 and 1.48 yuan [5] - The company maintains a "buy" rating with a PE ratio of 21, 19, and 17 times for FY25, FY26, and FY27 respectively [5]