Chanhen(002895) 新浪财经·2025-04-11 00:38Core Insights - The company reported a revenue of 5.91 billion yuan for 2024, representing a year-on-year increase of 36.7%, and a net profit attributable to shareholders of 960 million yuan, up 24.8% year-on-year [1] - The company plans to distribute a cash dividend of 12 yuan per 10 shares, which accounts for 67.6% of the net profit attributable to shareholders for 2024 [1] - The company is a leading player in the domestic phosphate chemical industry, with significant increases in phosphate rock production capacity [2] Financial Performance - In Q4 2024, the company achieved a revenue of 1.93 billion yuan, a year-on-year increase of 54.8% and a quarter-on-quarter increase of 29.7% [1] - The gross profit margin and net profit margin for 2024 were 33.1% and 16.2%, respectively, showing a decrease of 5.9 percentage points and 2.0 percentage points year-on-year [3] - For Q1 2025, the prices of core products such as calcium dihydrogen phosphate and industrial-grade monoammonium phosphate increased by 19.9% and 11.2% year-on-year, respectively [3] Production Capacity and Market Dynamics - The company has a production capacity of 3 million tons/year for phosphate rock and is constructing an additional 9.3 million tons/year [2] - The sales volume of key products like calcium dihydrogen phosphate and monoammonium phosphate increased by 15.8% and 15.7% year-on-year, respectively, while phosphate rock production increased by 5.2% [2] - The company is implementing a "mining integration" industrial model to enhance the utilization of low-grade phosphate rock and ensure stable raw material supply [4] Future Outlook - The company expects net profits to reach 1.33 billion yuan, 1.54 billion yuan, and 1.70 billion yuan for the years 2025 to 2027, indicating strong growth potential [4] - The expansion of price differentials for core products is anticipated to drive profitability in the upcoming quarters [4]