ZJAMP.(SZ:002758)2024-05-14 10:57Financial Performance - The company achieved operating revenue of CNY 40.94 billion in 2023, a decrease of 2.09% year-on-year [6] - The net profit attributable to shareholders was CNY 3.81 billion, down 37.53% compared to the previous year [6] - The first quarter of 2023 saw operating revenue of CNY 1.02 billion and net profit of CNY 91.11 million, while the second quarter's revenue was CNY 947.08 million with a net profit of CNY 86.16 million [6] Business Development - The core business of agricultural comprehensive services generated revenue of CNY 23.63 billion, accounting for 57.71% of total revenue, with a compound annual growth rate of 26.42% over the past three years [1] - The company established 16 new business entities in Zhejiang and 8 in other provinces, including Jilin, Shandong, Sichuan, and Guangxi [2] - The company supplied 8.03 million tons of various fertilizers, a year-on-year increase of 36%, and 12,000 tons of pesticides, up 25% [2] Strategic Initiatives - The company is advancing a strategy that combines industry and trade, enhancing production capacity and product quality through technological upgrades [2] - It is exploring a full-chain service model, engaging in land comprehensive remediation and modern agricultural park construction, with 7 projects covering 25,000 acres [2] - The company is also developing a socialized service system, having established 18 agricultural service centers in Zhejiang [2] Agricultural Technology - The company is a leading agent for DJI agricultural drones in Zhejiang, conducting various pest control projects and participating in drone competitions [3] - In 2023, the area serviced by drone pest control reached 837,400 acres, although this segment's revenue remains a small portion of total income [3] Challenges and Future Outlook - The company faced a significant decline in net profit due to strategic focus on agricultural services amidst a downturn in the overall economy [4] - The automotive business experienced revenue and profit declines due to intense competition and price wars, although the company maintained a focus on high-end brands [4] - The company plans to continue exploring opportunities in the agricultural and pharmaceutical sectors, emphasizing collaboration with leading enterprises [4] Shareholder Returns - The company proposed a cash dividend of CNY 3.00 per 10 shares, resulting in a payout ratio of 41.07% [5] - The company is committed to enhancing shareholder value through effective capital management and strategic growth initiatives [11]