禾丰股份:禾丰股份2024年年度报告(英文版)

Wellhope Foods Co., Ltd. 2024 Annual Report
Stock Code: 603609 Stock Abbreviation (English): Wellhope Ltd.
Bond Code: 113647 Bond Abbreviation (English): Wellhope Convertible Bond
Wellhope Foods Co., Ltd.
2024 Annual Report

Wellhope Foods Co., Ltd. 2024 Annual Report
Important Statements
I. The Board of Directors, the Supervisory Board, the Directors, Supervisors and Senior Management of
the Company hereby warrant that the contents of this annual report are true, accurate and complete,
and do not contain any false records, misleading statements or material omissions, and severally and
jointly accept legal responsibility for the contents hereof.
II. All members of the Board attended the Board meeting.
III. RSM CHINA CPA LLP issued a standard unqualified audit opinion on the Company’s financial
statements.
IV. Mr. Jin Weidong, the Legal Representative of the Company, and Mr. Chen Yu, the Chief Financial
Officer (responsible for accounting affairs), hereby declare that they guarantee the truthfulness,
accuracy and completeness of the financial statements contained in the annual report.
V. Proposed profit distribution for the reporting period approved by the Board of Directors
The Board proposes to distribute a cash dividend of RMB 0.058 per share (inclusive of tax), based on
the total number of issued shares as of the record date for dividend distribution, excluding shares
repurchased and held in the Company’s repurchase account. As of April 20, 2025, the Company had
919,434,448 shares in issue. Based on 868,671,037 shares, which exclude 50,763,411 shares held in the
repurchase account, the total proposed cash dividend amounts to RMB 50,382,920.15 (inclusive of tax).
In 2024, the Company repurchased its shares through bidding on the Stock Exchange with total
consideration amounting to RMB 287,387,710.93. The aggregate amount of cash returned to
shareholders, comprising both the cash dividend and share repurchases, totaled RMB 337,770,631.08,
representing 98.63% of the net profit attributable to shareholders of the Company for the year.
Shares held in the Company’s repurchase account are not entitled to dividends. In the event of any
change in the total number of shares in issue between the date of this announcement and the record
date, the per share dividend amount will remain unchanged, and the total distribution amount will be
adjusted accordingly.
VI. Statement on risks relating to forward-looking statements
The forward-looking statements contained in this report, including but not limited to business plans,
development strategies and other related information, do not constitute substantive commitments by
the Company to investors. Investors are advised to pay attention to potential investment risks.
VII. Whether there was any non-operating use of funds by the controlling shareholder or related
parties?
No
VIII. Whether the Company provided external guarantees in violation of prescribed decision-making
procedures?
No
IX. Whether more than half of the Directors failed to guarantee the truthfulness, accuracy and
Wellhope Foods Co., Ltd. 2024 Annual Report
completeness of the Company’s annual report?
No
X. Material risk warning
The relevant risk factors have been discussed in detail in this report. For further information, please
refer to the subsection “Potential Risks” under “Section III – Management Discussion and Analysis”.
XI. This annual report is published in both Chinese and English versions. In the event of any
inconsistency or ambiguity between the two versions, the Chinese version shall prevail. The Chinese
version of the 2024 Annual Report is available on the website of the Shanghai Stock Exchange at
www.sse.com.cn.

Wellhope Foods Co., Ltd. 2024 Annual Report
Contents

Section I Glossary...... 5
Section II Company Profile and Key Financial Information...... 6
Section III Management Discussion and Analysis...... 9
Section IV Corporate Governance, Environmental Protection and Social Responsibility ...... 43
Section V Important Disclosures...... 77
Section VI Changes in Common Shares and Shareholder Information...... 87
Section VII Corporate Bond...... 92
Section VIII Financial Statements...... 95
The financial statements have been signed and sealed by the Company's Legal
Representative and the Chief Financial Officer (responsible for accounting affairs).
Documents The original audit report bears the seal of the accounting firm and has also been
available for signed and sealed by the certified public accountants.
inspection The full text of all docum