YINGJIA DISTILLERY(603198)2025-04-28 12:40Financial Performance - The company's operating revenue for 2024 is projected to be approximately ¥7.34 billion, an increase of 8.46% compared to ¥6.77 billion in 2023[25]. - Net profit attributable to shareholders for 2024 is expected to reach around ¥2.59 billion, reflecting a growth of 13.45% from ¥2.28 billion in 2023[25]. - Basic earnings per share for 2024 increased to CNY 3.24, a 13.68% rise compared to CNY 2.85 in 2023[27]. - The overall gross profit margin improved to 73.94%, an increase of 2.92 percentage points compared to the previous year[45]. - The company achieved operating revenue of 7.34 billion RMB, a year-on-year increase of 8.46%[46]. - Net profit attributable to shareholders reached 2.59 billion RMB, up 13.45% year-on-year[45]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 15%[110]. Assets and Liabilities - Total assets at the end of 2024 are estimated to be ¥13.39 billion, a 12.70% increase from ¥11.88 billion at the end of 2023[26]. - The company's net assets attributable to shareholders are expected to be around ¥9.84 billion, up 15.77% from ¥8.50 billion at the end of 2023[26]. - The company reported a significant increase in long-term borrowings by 423.71% to ¥131,249,650.00, reflecting new financing for fixed assets[64]. - The total amount of entrusted financial management is approximately CNY 3.88 billion, with an overdue amount of CNY 20 million[170]. Cash Flow - The net cash flow from operating activities for 2024 is projected to be approximately ¥1.91 billion, a decrease of 12.89% compared to ¥2.19 billion in 2023[25]. - Cash flow from operating activities decreased by 12.89% to ¥1,907,085,267.82 compared to the same period last year, primarily due to increased tax payments[60]. - The net cash flow from operating activities for the first quarter was CNY 647,992,352.80, with negative cash flow of CNY -35,482,690.94 in the second quarter[30]. Dividends - The company plans to distribute a cash dividend of ¥15 per 10 shares, totaling approximately ¥1.2 billion based on a total share capital of 800 million shares[6]. - The cash dividend amount represents 46.35% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which was approximately 2.59 billion CNY[136]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) reached 3.12 billion CNY, with an average annual net profit of approximately 2.18 billion CNY, resulting in a cash dividend ratio of 143.14%[138]. Operational Efficiency - The company achieved steady growth in operating income and total profit, maintaining high-quality development amidst a challenging economic environment[36]. - The production of liquor exceeded targets, with improvements in comprehensive yield and quality rates, while production costs per thousand liters decreased[36]. - The company has a complete industrial chain, which helps in controlling product quality and reducing production costs[44]. - The company has implemented a three-level training management mechanism, conducting over 600 training sessions to continuously supply talent for its development[132]. Market Position and Strategy - The company was recognized as one of the top 50 most valuable liquor brands globally and ranked among the top 500 Chinese brands in 2024[37]. - The marketing strategy focused on enhancing brand awareness and loyalty through cultural events and experiences, significantly boosting brand reputation[37]. - The company plans to enhance brand and channel strength to increase market share in the mid-to-high-end segment[73]. - The company is positioned in a favorable market with significant growth potential in major provinces such as Jiangsu, Hubei, and Shandong[44]. Research and Development - The company’s research and development expenses were 81.26 million RMB, a slight decrease of 0.24% year-on-year[46]. - The total R&D expenditure for the period was ¥81,258,211.53, accounting for 1.11% of the operating revenue[56]. - The company employed 594 R&D personnel, representing 7.42% of the total workforce[58]. Governance and Compliance - The company emphasizes transparency in information disclosure, ensuring timely and accurate communication with all stakeholders[106]. - The company has established a clear internal control system, continuously improving governance standards[106]. - The company has not engaged in any related party transactions that would affect its independence[107]. - The company held one shareholders' meeting during the reporting period, adhering to all legal and regulatory requirements[104]. Environmental Responsibility - The company has invested 28.16 million CNY in environmental protection during the reporting period[144]. - The company has implemented pollution control facilities that ensure all pollutants are discharged within regulatory standards, with no environmental violations reported[147]. - The company is committed to ecological brewing practices, promoting sustainable development and environmental responsibility[151]. Shareholder Information - The top shareholder, Anhui Yingjia Group Co., Ltd., holds 577,765,850 shares, representing 72.22% of the total shares[185]. - The top ten shareholders collectively hold a significant portion of the company's shares, indicating concentrated ownership[186]. - There are no other shareholders holding more than 10% of the company's shares[196].