DHGF(600257)2025-04-08 13:10Financial Performance - The company's operating revenue for 2024 was CNY 1,044,497,383.20, a decrease of 12.48% compared to CNY 1,193,454,619.46 in 2023[21]. - The net profit attributable to shareholders for 2024 was a loss of CNY 76,951,033.51, compared to a loss of CNY 8,158,712.77 in 2023, representing an increase in loss of 843.18%[21]. - The net cash flow from operating activities for 2024 was CNY 67,450,890.80, down 58.39% from CNY 162,089,223.95 in 2023[22]. - The total assets at the end of 2024 were CNY 1,860,201,296.68, a decrease of 10.46% from CNY 2,077,597,869.84 at the end of 2023[22]. - The net assets attributable to shareholders at the end of 2024 were CNY 796,856,112.59, down 9.05% from CNY 876,156,555.30 at the end of 2023[22]. - Basic earnings per share for 2024 is -0.16 yuan, a decrease of 700% compared to -0.02 yuan in 2023[23]. - Diluted earnings per share for 2024 is also -0.16 yuan, reflecting a 700% decline from the previous year[23]. - The weighted average return on equity for 2024 is -9.19%, down 8.26 percentage points from -0.93% in 2023[23]. - The net profit attributable to shareholders for the fourth quarter of 2024 is -55,528,800.49 yuan, indicating continued losses throughout the year[26]. - The company recorded a net loss of 76.95 million yuan for the year, primarily due to economic slowdown and increased market supply[42]. Revenue Breakdown - Total revenue for the first quarter of 2024 is 208,442,460.81 yuan, with subsequent quarters showing revenues of 288,684,597.45 yuan, 267,721,004.17 yuan, and 279,649,320.77 yuan respectively[25]. - The agricultural segment generated revenue of CNY 539,470,689.93, down 13.98% year-on-year, with a gross margin of 10.67%[76]. - The industrial segment reported revenue of CNY 104,213,188.65, a decline of 27.08%, with a gross margin of 60.69%[76]. - The company's revenue from aquatic products accounted for 51.65% of total revenue during the reporting period[64]. - The white liquor segment contributed 9.98% to the company's total revenue, with a focus on high-quality production methods[66]. - The rehabilitation and nursing medical services business represented 36.87% of total revenue, targeting various demographics including the elderly and children[68]. Operational Strategies - The company is focusing on an integrated fishery industry chain model, emphasizing ecological breeding and deep processing of aquatic products[33]. - The company aims to enhance internal management and cost control to improve operational efficiency amidst a challenging economic environment[33]. - The company is focusing on expanding its distribution channels, including partnerships with major retailers like Walmart and Tianhong, to capture more market share[36]. - The company plans to enhance its product quality control system across all stages from raw material procurement to cold chain transportation, aiming to improve market competitiveness[36]. - The company is committed to improving medical service quality and establishing a digital management system to enhance operational efficiency in its healthcare services[107]. Market Trends and Risks - The company faces various operational risks, including market competition and cost fluctuations, as detailed in the management discussion section[10]. - The average sales price, sales volume, and sales revenue of fresh fish decreased year-on-year due to a sluggish market economy, with a price drop of 2.61% impacting the aquatic product division's profits[42]. - The white liquor division experienced a revenue decline of approximately 27.08% due to reduced consumption scenarios and increased competition from large liquor enterprises[43]. - Rising operational costs, including labor and breeding costs, pose a risk, with potential fluctuations due to environmental pressures and natural disasters; the company plans to implement refined management and improve brand premium capabilities to counteract this[112]. Corporate Governance and Management - The company has held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, ensuring compliance with regulations and protecting shareholder rights[117]. - The total compensation for the board members and senior management during the reporting period amounted to CNY 584.56 million[121]. - The company has appointed new independent directors, Liu Xibo and Wang Ni, as of July 2023[121]. - The company has established a comprehensive internal control system to enhance operational efficiency and governance standards[152]. - The company has implemented a differentiated performance management system based on industry standards, ensuring objective and effective evaluations[138]. Future Outlook - The future outlook includes a projected revenue growth of 10% for the next fiscal year, driven by new product launches[125]. - The company plans to enhance customer engagement through digital marketing strategies, with a budget increase of 15% for marketing expenses[125]. - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2025[126]. - The company is considering strategic acquisitions to enhance its product portfolio, targeting companies with annual revenues of 50 million[126]. Environmental and Social Responsibility - The company invested 2.0784 million yuan in environmental protection during the reporting period[156]. - The company adopted an ecological breeding model, focusing on low-energy and low-pollution practices in aquaculture[157]. - The company contributed a total of 236,500 yuan to external donations and public welfare projects, including 160,000 yuan in cash donations[160]. - The total donation expenditure for poverty alleviation and rural revitalization projects reached 182,100 yuan, with specific contributions to various villages[162].