SHIHUA(688093)2025-03-10 14:25Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.6 per 10 shares for the 2024 fiscal year, totaling RMB 41,755,467.36 (including tax) based on 260,971,671 shares after accounting for repurchased shares[6]. - For the first three quarters of 2024, the company approved a cash dividend of RMB 3.60 per 10 shares, amounting to RMB 93,949,801.56 (including tax) to be distributed on December 27, 2024[7]. - The total cash dividend for the 2024 fiscal year is projected to be RMB 135,705,268.92 (including tax), representing 48.53% of the net profit attributable to shareholders[8]. - The proposed cash dividend for the 2024 fiscal year is RMB 1.6 per 10 shares, totaling RMB 41,755,467.36 (including tax), based on a total share count of 260,971,671 shares after accounting for repurchased shares[155]. - The total cash dividend for 2024 is projected to be RMB 135,705,268.92 (including tax), representing 48.53% of the net profit attributable to shareholders in the consolidated financial statements[156]. - The company's cumulative cash dividends over the last three fiscal years amount to RMB 326,118,999.60 (including tax), with an average annual net profit of RMB 219,497,499.77, resulting in a cash dividend ratio of 148.58%[161]. Financial Performance - The company's operating revenue for 2024 reached ¥794,683,393.68, representing a year-on-year increase of 55.36% compared to ¥511,499,668.53 in 2023[23]. - The net profit attributable to shareholders for 2024 was ¥279,658,392.80, up 44.56% from ¥193,459,065.79 in 2023[23]. - The net profit after deducting non-recurring gains and losses was ¥259,304,435.37, reflecting a 54.62% increase from ¥167,708,739.77 in 2023[24]. - The net cash flow from operating activities increased by 33.35% to ¥228,679,304.99, compared to ¥171,485,206.15 in 2023[24]. - Basic earnings per share for 2024 were ¥1.07, a 38.96% increase from ¥0.77 in 2023[25]. - The weighted average return on net assets rose to 14.30%, an increase of 2.53 percentage points from 11.77% in 2023[25]. - The company achieved a total revenue of 795 million RMB in 2024, representing a year-on-year growth of 55.36%[35]. - The net profit attributable to shareholders reached 280 million RMB, an increase of 44.56% compared to the previous year[35]. - The gross profit margin for functional materials decreased by 2.65 percentage points to 56.26%[85]. - Operating costs rose to 348 million RMB, reflecting a 65.47% increase year-on-year[79]. Research and Development - The company achieved a total R&D investment of approximately ¥50.21 million in the current year, representing a 36.55% increase compared to ¥36.77 million in the previous year[55]. - R&D investment accounted for 6.32% of total revenue, a decrease of 0.87 percentage points from 7.19% in the previous year[56]. - The company holds a total of 132 authorized patents, including 79 invention patents and 53 utility model patents, with 38 new invention patent applications filed during the reporting period[53]. - The company has developed 23 core technologies, all of which are at large-scale application stage, showcasing strong R&D capabilities[51]. - The company is actively investing in R&D and has built a manufacturing base for composite functional materials and adhesives, aiming for technological breakthroughs and industry integration[46]. - The company has a strong focus on developing high-performance, multifunctional composite materials tailored to specific applications, which is a key trend in the industry[50]. - The company has made significant advancements in OLED materials, with increasing demand for new technologies in display modules[49]. - The company is developing a new type of environmentally friendly impact-resistant material with a total investment of 98.11 million RMB, with current period investment at 51.27 million RMB[61]. Market Position and Strategy - The company has established a strong position in the functional materials sector, competing directly with international brands and achieving high market recognition[46]. - The functional materials industry is characterized by low market concentration and intense competition, with many small enterprises and a significant presence of international firms in the high-end market[44]. - The company is focused on continuous innovation in functional materials, with a strong emphasis on R&D investment to maintain its competitive advantage[67]. - The company aims to enter the world's top tier in the functional materials field, focusing on continuous innovation and value creation for stakeholders[110]. - The company plans to enhance its optical materials manufacturing capabilities and customer service, with a focus on expanding production capacity for high-performance optical materials in 2025[115]. - The company is committed to a global expansion strategy to enhance its competitive advantage and brand influence in the international market, ensuring stable growth and development[115]. Operational Efficiency - A comprehensive digital platform integrating SAP, PLM, CRM, MES, WMS, and OA systems was successfully deployed, improving operational efficiency[36]. - The board of directors has approved a strategic plan to increase operational efficiency, aiming for a 10% reduction in costs by the end of 2024[126]. - The company has implemented internal control measures to manage subsidiaries effectively and mitigate operational risks[171]. - The company’s cash flow situation is detailed in the management discussion and analysis section, indicating a focus on operational efficiency[97]. Environmental and Social Responsibility - The company emphasizes ESG practices, integrating them into daily operations and promoting sustainable development[174]. - The company has invested in the research and development of bio-based and recyclable materials, completing over 100 eco-friendly composite materials for mass production and sales[197]. - The company has established a dedicated department for environmental protection, health, and safety[174]. - The company has committed to using clean energy and energy-efficient equipment in its production processes to further reduce emissions and waste[194]. - The company has engaged in regular training and drills to enhance its response capabilities for environmental emergencies[186]. - The company emphasizes environmental protection and resource conservation through its corporate social responsibility initiatives[192]. Corporate Governance - The company has maintained a stable management structure with no changes in the number of shares held by key personnel[124]. - The company has not faced any penalties from securities regulatory authorities in the past three years[136]. - The company is focused on maintaining compliance with legal regulations and corporate governance standards, as evidenced by the successful execution of its shareholder meetings[121]. - The company has established specialized committees under the board, including the audit committee and the nomination committee, with new members elected in June 2024[141]. Employee Management - The company emphasizes a competitive compensation policy to attract and retain talent, linking overall employee compensation closely to performance and company results[150]. - A comprehensive training program is in place to enhance employee professional growth, focusing on product knowledge, R&D skills, and quality control[151]. - The company plans to implement a stock incentive mechanism to align employee interests with company growth, allowing outstanding employees to share in the company's success[150]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to RMB 1,012.10 million[134].