SCMF(000731)2025-04-21 09:15Financial Performance - The company's operating revenue for 2024 was approximately ¥4.55 billion, representing a 9.10% increase compared to ¥4.17 billion in 2023[6]. - The net profit attributable to shareholders for 2024 decreased by 28.97% to approximately ¥271.74 million, down from ¥382.58 million in 2023[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥202.09 million, a decrease of 35.65% from ¥314.06 million in 2023[6]. - The net cash flow from operating activities increased by 21.13% to approximately ¥447.63 million, compared to ¥369.54 million in 2023[6]. - The total assets at the end of 2024 were approximately ¥5.67 billion, a slight decrease of 0.69% from ¥5.71 billion at the end of 2023[6]. - The company's average return on equity for 2024 was 6.01%, down from 9.34% in 2023, indicating a decline of 3.33%[6]. - The company achieved operating revenue of CNY 4,554,154,252.89, a year-on-year decrease of 9.10%[113]. - Net profit attributable to shareholders was CNY 271,737,845.45, with basic earnings per share of CNY 0.4791[113]. - Revenue from the chemical fertilizer manufacturing sector decreased by 9.61% to ¥2,097,354,400.95, down from ¥2,320,420,937.96 in the previous year[123]. - Natural gas supply revenue fell by 5.06% to ¥900,579,826.74, compared to ¥948,578,597.68 in 2023[123]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1.70 RMB per 10 shares based on a total share capital of 558,829,131 shares as of the end of 2024[7]. - The company implemented a share buyback of 14,908,500 shares, accounting for 2.5985% of the total share capital, using CNY 99,999,800[119]. Market and Industry Trends - The average price of urea in 2024 was ¥2,141.92 per ton, reflecting a significant year-on-year decline of 13.94%[30]. - The nitrogen fertilizer market's supply increased by 15.8% in 2024, with total production reaching 6.57 million tons[31]. - The compound fertilizer market is expected to maintain a growth trend in both supply and demand, with a projected market size of over 120 billion yuan in new fertilizer by 2024, accounting for 22% of the agricultural input market[32]. - The automotive urea industry is projected to consume approximately 3.4 million tons in 2024, with a future market saturation level estimated at around 7.5 million tons, indicating a growth phase for the industry[39]. - The implementation of stricter emission standards, including the National VI B standard starting July 1, 2023, is expected to further enhance the demand for automotive urea, with nitrogen oxides and volatile organic compounds emissions targeted to decrease by over 10%[39]. Production and Capacity - The company has a total of 558,829,131 shares outstanding as of the end of 2024[7]. - The company’s melamine production capacity accounts for 2.16% of the national total, with an actual output of 3.14%, indicating a relatively small market share[38]. - The ammonium nitrate production capacity is expected to be approximately 9.9 million tons per year by the end of 2024, reflecting a year-on-year decrease of 5.3% due to stricter safety regulations[43]. - The company’s ammonium nitrate production process utilizes a tri-amine tail gas neutralization method, achieving a unit product energy consumption of 14.21 GJ, which is among the advanced levels in the country[45]. - The company has a daily LNG production capacity of 1.2 million cubic meters, with 1 million cubic meters from the Langzhong Shuangrui facility and 200,000 cubic meters from the Dongcai Shuangrui facility[72]. Research and Development - The company is committed to technological innovation, increasing R&D investment in green technologies, and building an intelligent production system to improve cost efficiency and product customization[35]. - R&D investment increased, with new fertilizer products developed, including high-potassium liquid and various water-soluble fertilizers[116]. - Research and development expenditures increased by 20% to support innovation in chemical products and sustainable agricultural practices[160]. - The company increased its R&D personnel from 162 to 215, representing a growth of 32.72%[141]. - The company has established partnerships with renowned universities and research institutions to enhance its product development capabilities[101]. Safety and Risk Management - The company emphasizes the importance of risk awareness regarding safety, product price fluctuations, cost increases, and natural gas supply imbalances[6]. - The company is enhancing safety management through rigorous supervision and risk control measures, aiming to improve overall safety levels[172]. - The company plans to strictly control safety and environmental risks while optimizing production cost management to enhance profitability[177]. Marketing and Sales Strategy - The company aims to improve market coverage and share through new market channel development, refined market operations, innovative sales models, and brand promotion[40]. - The company has established a marketing network across 30 provinces and autonomous regions in China, with over 2,300 total customers and nearly 800 active core customers[111]. - The company is focusing on enhancing its logistics and warehousing services, which are expected to contribute to a 5% reduction in operational costs[161]. - The company is expanding its market presence by entering new regions, targeting a 15% increase in market share over the next fiscal year[161]. Corporate Governance - The company has established a governance structure that complies with relevant laws and regulations, ensuring no unresolved governance issues exist[183]. - The board of directors consists of 7 members, with 3 independent directors, exceeding one-third of the total[185]. - The supervisory board has 7 members, including 3 shareholder representatives and 4 employee representatives, fulfilling legal requirements[186]. - The company maintains an independent operational system, with separate financial, production, and sales departments, ensuring complete operational independence from the controlling shareholder[189]. Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development as part of its corporate social responsibility[186]. - The company is focusing on environmental technology development, with a dedicated budget for research and consulting services[163].