Financial Performance - Revenue increased by 29.9% to approximately RMB 1,822.0 million (2023: RMB 1,403.2 million) [3] - Gross profit increased by 27.8% to approximately RMB 396.8 million (2023: RMB 310.4 million) [3] - Profit before tax increased by 38.5% to approximately RMB 163.0 million (2023: RMB 117.7 million) [3] - Annual profit increased by 29.6% to approximately RMB 134.2 million (2023: RMB 103.5 million) [3] - Profit attributable to shareholders increased by 42.5% to approximately RMB 124.2 million (2023: RMB 87.1 million) [3] - Basic earnings per share increased by 45.8% to approximately RMB 0.35 (2023: RMB 0.24) [3] - Total comprehensive income for the year amounted to RMB 140.5 million (2023: RMB 107.2 million) [6] - Total revenue for the year ended December 31, 2024, was RMB 1,822,049,000, representing a 30% increase from RMB 1,403,169,000 in 2023 [22] - Revenue from customers in China reached RMB 1,452,627,000, up 23.2% from RMB 1,177,379,000 in the previous year [22] - Revenue from tantalum-niobium metal and its products increased by 39.4% to RMB 841,055 thousand in 2024 from RMB 603,963 thousand in 2023 [27] - Other income, including government subsidies, rose to RMB 24,088 thousand in 2024, compared to RMB 13,531 thousand in 2023, marking an increase of 77.8% [32] - The company's profit before tax for 2024 was RMB 124,195 thousand, up from RMB 87,142 thousand in 2023, reflecting a growth of 42.6% [43] - The annual profit for the current year was approximately RMB 134.2 million, an increase of RMB 30.6 million or 29.6% compared to the previous year [84] - Profit attributable to the company's owners increased from approximately RMB 87.1 million to RMB 124.2 million, reflecting a growth of RMB 37.1 million or 42.5% [85] Dividends - The board proposed a final dividend of HKD 0.0556 per share for the year ending December 31, 2024 (2023: nil) [3] - The company proposed a final dividend of HKD 0.0556 per share for 2024, compared to no dividend in 2023 [40] Assets and Liabilities - Non-current assets totaled RMB 550.99 million as of December 31, 2024 (2023: RMB 558.33 million) [8] - Current assets increased to RMB 1,590.97 million as of December 31, 2024 (2023: RMB 1,369.90 million) [8] - Trade receivables increased to RMB 287,210 thousand in 2024 from RMB 263,807 thousand in 2023, with a net value of RMB 282,307 thousand after impairment [11] - The impairment loss provision for trade receivables rose to RMB 4,903 thousand in 2024 from RMB 2,145 thousand in 2023 [47] - The aging analysis of trade payables showed a total of RMB 62,266 thousand in 2024, up from RMB 54,280 thousand in 2023 [48] - As of December 31, 2024, the company's property, plant, and equipment increased from approximately RMB 385.3 million to about RMB 387.0 million, primarily due to the expansion of wet and dry production facilities [87] - The total amount of right-of-use assets decreased from approximately RMB 99.0 million to about RMB 68.1 million, mainly due to increased depreciation expenses [89] - Inventory increased from approximately RMB 682.0 million to RMB 744.5 million, with average inventory rising from RMB 596.5 million to RMB 713.3 million, reflecting further downstream extension of production operations [94] - The total debt of the group as of December 31, 2024, was approximately RMB 607.3 million, down from RMB 656.7 million as of December 31, 2023 [118] - The capital debt ratio as of December 31, 2024, was approximately 26.7%, a decrease from 31.2% as of December 31, 2023 [119] Operational Highlights - The group’s performance is primarily derived from the manufacturing, sales, and trading of non-ferrous metal products [21] - The group achieved a year-on-year increase of 16% in tantalum-niobium oxide product output and a 13% increase in tantalum-niobium metal product output [58] - The group implemented a "unified and scaled" strategy, enhancing production capacity and extending the tantalum-niobium industry chain, including a project to increase high-niobium production capacity by 700 tons annually [60] - The group successfully optimized production processes and adjusted product structures to meet market demand, leading to significant growth in high-niobium oxide products [64] - The group’s sales cost increased by RMB 332.5 million or 30.4%, reaching approximately RMB 1,425.3 million, primarily due to increased sales volume and expanded production scale [70] - Raw material costs accounted for approximately 67.3% of total sales costs in the current year, compared to 72.2% in the previous year [69] Research and Development - Research and development costs increased to RMB 73,927 thousand in 2024 from RMB 66,553 thousand in 2023, representing a growth of 11.5% [35] - The company is focused on continuous optimization of R&D processes and enhancing product quality to strengthen its industry position [55] - The company aims to strengthen R&D investment and focus on technological and management innovation to open new market opportunities [134] Corporate Governance - The board of directors is committed to adhering to corporate governance principles and has implemented measures to strengthen internal control systems [142] - The company has re-complied with listing rules regarding the composition of the board and audit committee after appointing new independent non-executive directors [146] - The audit committee was established on February 19, 2020, consisting of three independent non-executive directors, with Mr. Liu Guohui as the chairman [149] - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2024, and confirmed that the accounting treatment and financial statements comply with current accounting standards and listing rules [150] Employee and Talent Management - The group had a total of 632 employees as of December 31, 2024, down from 678 in 2023, with total employee costs approximately RMB 110.9 million compared to RMB 91.1 million in 2023 [135] - The company continues to optimize its compensation and benefits system to enhance employee satisfaction and motivation [136] Future Outlook - The company plans to enhance production organization and optimize production processes to achieve overproduction in 2025 [133] - The company anticipates significant growth in downstream demand for tantalum and niobium due to advancements in new technologies such as renewable energy and semiconductors [134] - The company will continue to adhere to its strategic positioning of "professionalization, integration, scaling, high-end, internationalization, and capitalization" to achieve its operational goals [134]
稀美资源(09936) - 2024 - 年度业绩