Revenue Performance - Revenue from continuing operations for Q4 2024 was RMB 415 million, down from RMB 882 million in the same period last year, representing a decline of 53%[11] - Full-year revenue from continuing operations was RMB 2,248 million, down from RMB 3,522 million year-over-year, a decrease of 36.3%[11] - Total revenue for Q4 2024 was RMB 415 million, a decrease of 52.9% compared to RMB 882 million in Q4 2023, primarily due to a significant drop in cloud service platform revenue[17] - Revenue from the digital banking segment in Q4 2024 was RMB 92 million, down 62.7% from RMB 247 million in Q4 2023, attributed to reduced transaction volumes in customer acquisition and risk management services[16] - Revenue from the digital insurance segment remained stable at RMB 141 million in Q4 2024, a slight increase of 0.2% compared to RMB 141 million in Q4 2023[16] - Revenue from the Gama platform segment in Q4 2024 was RMB 182 million, a decrease of 63.2% from RMB 494 million in Q4 2023, mainly due to the strategic phase-out of cloud services[16] - The company’s total revenue for the fiscal year 2024 was RMB 2.25 billion, down 36.2% from RMB 3.52 billion in fiscal year 2023[15] - Revenue for the three months ended December 31, 2024, was RMB 415,227 thousand, a decrease of 53% compared to RMB 881,899 thousand in the same period of 2023[33] - The company’s total revenue for the full year 2024 was RMB 2,248,103 thousand, a decline of 36% from RMB 3,521,591 thousand in 2023[33] Profitability and Losses - Gross margin for continuing operations was 34.2%, compared to 39.0% in the same period last year[11] - Full-year gross margin for continuing operations was 35.8%, down from 37.7% in the previous year[11] - The net loss attributable to owners from continuing operations was RMB 669 million, compared to RMB 211 million in the previous year, indicating a significant increase in losses[11] - The net loss margin attributable to owners from continuing operations was -29.8%, worsening from -6.0% year-over-year[11] - Basic and diluted loss per American Depositary Share for continuing operations was RMB -18.42, compared to RMB -5.82 in the previous year[11] - The net loss attributable to the company's owners for continuing operations was RMB 569.2 million in Q4 2024, compared to a loss of RMB 46.9 million in Q4 2023[19] - The company reported a basic and diluted loss per American Depositary Share of RMB 15.67 for Q4 2024, compared to RMB 1.29 in Q4 2023[19] - The net loss attributable to owners of the company for the full year 2024 was RMB 459,677 thousand, compared to a loss of RMB 362,715 thousand in 2023[34] - Total comprehensive loss for the three months ended December 31, 2024, was RMB 538,026 thousand, compared to a loss of RMB 106,697 thousand in the same period of 2023[34] - The company recorded a basic and diluted loss per American depositary share of RMB (15.67) for the three months ended December 31, 2024, compared to RMB (1.29) in the same period of 2023, indicating a substantial increase in losses[35] Operating Expenses - Operating loss for Q4 2024 was RMB 147.7 million, compared to an operating loss of RMB 45.1 million in Q4 2023[19] - In Q4 2024, the total operating expenses for continuing operations amounted to RMB 165 million, down from RMB 391 million in the same period last year, representing a decrease of 4.6 percentage points in the expense-to-revenue ratio to 39.7%[20] - The operating loss for continuing operations in Q4 2024 was RMB 148 million, compared to RMB 45 million in the same period last year, resulting in an operating profit margin of -35.6%, down from -5.1% year-over-year[21] - Research and development expenses for continuing operations in Q4 2024 were RMB 41 million, down from RMB 197 million year-over-year, with the R&D expense ratio decreasing from 22.3% to 10.0%[20] - Sales and marketing expenses for continuing operations in Q4 2024 were RMB 39 million, down from RMB 59 million in the same period last year, with the expense ratio increasing from 6.7% to 9.4%[25] - General and administrative expenses for continuing operations in Q4 2024 were RMB 84 million, down from RMB 134 million year-over-year, with the expense ratio increasing from 15.2% to 20.3%[25] - The company’s administrative expenses for the year 2024 were RMB 305,110 thousand, a decrease of 19% compared to RMB 375,128 thousand in 2023[33] Cash Flow and Financial Position - Cash flow from operating activities in Q4 2024 was RMB 55 million, while cash flow from investing activities was RMB 260 million, and cash used in financing activities was RMB 46 million[23] - The net cash used in operating activities for the year ended December 31, 2024, was RMB (276,849) thousand, compared to RMB (648,461) thousand in 2023, showing an improvement in cash flow[42] - The company reported a net cash inflow from investing activities of RMB 1,106,256 thousand for the year ended December 31, 2024, compared to an inflow of RMB 318,634 thousand in 2023, indicating a significant increase in investment cash flow[42] - The total assets decreased from RMB 8,068,358 thousand in 2023 to RMB 3,967,252 thousand in 2024, indicating a reduction of approximately 50.8%[38] - The cash and cash equivalents increased from RMB 1,379,473 thousand in 2023 to RMB 1,947,922 thousand in 2024, reflecting a growth of about 41.3%[42] - The total liabilities decreased from RMB 5,120,566 thousand in 2023 to RMB 1,463,309 thousand in 2024, a reduction of approximately 71.5%[40] - The total equity attributable to the owners of the company decreased from RMB 2,966,771 thousand in 2023 to RMB 2,558,452 thousand in 2024, a decline of approximately 13.8%[40] Strategic Initiatives - The company completed the sale of its virtual banking business to Lufax Holding Ltd. for HKD 933 million on April 2, 2024[11] - The company has established long-term partnerships with financial institutions to support their digital transformation needs and has successfully exported technology solutions to overseas financial institutions[26] - The company is focused on adjusting its business structure and adopting a return-on-investment-oriented approach to R&D project management[20] - The company is actively expanding its services to other participants in the value chain to support the digital transformation of the financial services ecosystem[26]
金融壹账通(06638) - 2024 Q4 - 季度业绩