Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 1,069,225,000, a decrease of 33.5% compared to RMB 1,608,784,000 in 2023[3]. - Gross profit for the same period was RMB 306,710,000, down 12.8% from RMB 351,858,000 in the previous year[3]. - Operating profit increased to RMB 163,222,000, up 27.4% from RMB 128,164,000 in 2023[3]. - The net profit for the year was RMB 10,420,000, compared to a net loss of RMB 9,949,000 in 2023, indicating a significant turnaround[5]. - Revenue from advertising publishing decreased to RMB 859,458,000 in 2024 from RMB 1,341,610,000 in 2023, indicating a decline of 36%[20]. - The company reported a net loss attributable to shareholders of RMB 63,405,000 for 2024, compared to a net loss of RMB 31,016,000 in 2023, indicating an increase in losses of approximately 104.5%[27]. - The total revenue from other income for the year ended December 31, 2024, was RMB 190,055,000, a significant increase from RMB 61,666,000 in 2023, representing a growth of approximately 207.5%[23]. - EBITDA decreased by RMB 245.1 million or 29.2% to RMB 593.2 million in 2024 from RMB 838.3 million in 2023[63]. Assets and Liabilities - Total assets decreased to RMB 2,053,955,000 from RMB 2,877,536,000, reflecting a decline of 28.6%[6]. - Current liabilities exceeded current assets by approximately RMB 305,206,000, compared to RMB 250,309,000 in the previous year[10]. - The company’s total liabilities increased to RMB 342,262,000 in 2024 from RMB 253,818,000 in 2023, representing an increase of about 34.8%[36]. - The group’s non-current assets in mainland China were valued at RMB 732,856,000 as of December 31, 2024, down from RMB 1,163,852,000 in 2023[21]. - The company’s cash and cash equivalents decreased to RMB 579,057,000 in 2024 from RMB 756,102,000 in 2023, a decrease of approximately 23.5%[35]. - Cash and cash equivalents at year-end were RMB 215,334,000, down from RMB 367,241,000 in 2023, a decrease of 41.3%[10]. - The company’s cash and cash equivalents, along with restricted cash, decreased by RMB 158.3 million to RMB 232.4 million as of December 31, 2024[68]. - The company's total bank borrowings amounted to RMB 355.4 million, with RMB 251.8 million due within one year[68]. Cost Management - The company reported a significant reduction in financing costs, which decreased to RMB 71,596,000 from RMB 127,431,000, a drop of 43.8%[5]. - The company’s financing costs decreased to RMB 71,596,000 in 2024 from RMB 127,431,000 in 2023, reflecting a reduction of about 43.8%[23]. - The total salary and related costs for the year ended December 31, 2024, were RMB 194.6 million, compared to RMB 223.7 million for the year ended December 31, 2023, reflecting a decrease of approximately 13%[77]. Operational Strategy - The company plans to focus on expanding its outdoor advertising media operations in mainland China, Hong Kong, Macau, and Southeast Asia[9]. - The group achieved a gross profit of RMB 306,710,000 for the year ending December 31, 2024, down from RMB 351,858,000 in 2023, reflecting a gross margin of approximately 28.7%[17]. - The operating segments generated the following revenues: Subway business RMB 358,258,000, Bus business RMB 399,604,000, and Other business RMB 311,363,000, contributing to a total of RMB 1,069,225,000[17]. - The subway and billboard segment reported revenue of RMB 399.6 million, down from RMB 585.5 million in 2023, with a gross margin of 26.0%[45]. - The airport segment's revenue decreased to RMB 358.3 million from RMB 519.4 million in 2023, but gross margin improved to 34.8%[46]. - The bus and other segment saw revenue drop to RMB 311.4 million from RMB 503.9 million in 2023, with a gross margin increase to 25.2%[47]. - The company is focusing on expanding its customer base in the fast-moving consumer goods sector, including food, healthcare, insurance, and wealth management[42]. Corporate Governance - The audit committee and the board have reviewed and approved the audited annual results for the year ended December 31, 2024[84]. - The company has complied with all applicable corporate governance code provisions, except for deviations regarding the roles of the chairman and CEO[82]. - The company has confirmed that all directors have adhered to the standards of the securities trading code during the year[83]. - The company will publish all financial and related information as required by the listing rules on the respective websites at an appropriate time[87]. Employee and Shareholder Information - As of December 31, 2024, the company had 579 employees, down from 796 employees in 2023, indicating a reduction of approximately 27%[77]. - The company did not recommend the payment of a final dividend for the year 2024, consistent with the previous year[29]. - The company has adopted a share incentive plan, purchasing a total of 967,000 shares at a total cost of approximately RMB 0.8 million during the year[80]. - The company will suspend the registration of shareholders from May 29, 2025, to June 3, 2025, for the annual general meeting[79]. Recent Developments - There have been no significant events affecting the group since December 31, 2024, up to the date of this announcement[75].
雅仕维(01993) - 2024 - 年度业绩