JHSY(002597) 新浪财经·2025-04-17 23:48Revenue and Profitability - The company's revenue for 2024 is 5303.17 million yuan, a slight decrease of 0.15% from 2023's 5311.12 million yuan, with food manufacturing revenue declining by 4.72% and basic chemical revenue increasing by 5.47%, indicating a structural adjustment in the business [1] - Net profit attributable to shareholders is 556.73 million yuan, down 20.94% from 704.16 million yuan in 2023, with net profit excluding non-recurring items at 466.54 million yuan, a decrease of 23.31%, highlighting challenges in core profitability [2] - Basic earnings per share are 1.01 yuan, down 20.47% from 1.27 yuan in 2023, and diluted earnings per share excluding non-recurring items are 0.85 yuan, reflecting a consistent downward trend in earnings [3] Expense Management - Total expenses show varied changes, with sales expenses at 46.24 million yuan, up 3.67%, management expenses at 174.00 million yuan, down 30.45%, and R&D expenses at 237.93 million yuan, up 1.10%, indicating strategic adjustments in different areas [4] - The increase in sales expenses suggests ongoing investment in market promotion and sales channel expansion, which may help maintain and expand market share despite slight revenue decline [5] - The significant decrease in management expenses is attributed to reduced share-based payment expenses, indicating effective cost control measures [6] Cash Flow Analysis - Operating cash flow net amount is 750.37 million yuan, down 39.18% from 1,233.79 million yuan in 2023, indicating potential issues in operational efficiency [10][11] - Investment cash flow net amount has turned negative at -1,634.33 million yuan, a significant decline from 25.47 million yuan in 2023, reflecting increased cash outflows for investments in fixed and intangible assets [12] - Financing cash flow net amount improved to 147.85 million yuan from -1,421.63 million yuan in 2023, indicating better funding sources through increased bank loans and reduced cash outflows for dividends and buybacks [13] R&D and Innovation - R&D expenses continue to grow, reflecting the company's commitment to technological innovation, which is crucial for enhancing product competitiveness and supporting sustainable development [8]