Financial Performance - The total revenue for LifeTech Scientific Corporation for the year ended December 31, 2024, was approximately RMB 1,303.7 million, an increase of about RMB 36.5 million or approximately 2.9% compared to RMB 1,267.2 million in the same period of 2023[3]. - The gross profit for the year ended December 31, 2024, was approximately RMB 981.4 million, a decrease of about 1.4% from RMB 995.6 million in 2023[3]. - The net profit for the year ended December 31, 2024, was approximately RMB 168.5 million, representing an increase of approximately 56.7% from RMB 107.5 million in 2023, primarily due to a reduction in fair value losses related to financial liabilities[3]. - The profit attributable to owners of the company for the year ended December 31, 2024, was approximately RMB 222.4 million, a decrease of about 15.5% from RMB 263.2 million in 2023[3]. - The company reported a basic earnings per share of RMB 5.1 cents for the year ended December 31, 2024, compared to RMB 6.0 cents in 2023[4]. - The company did not declare any final dividend for the year ended December 31, 2024, consistent with 2023[3]. - Revenue from external customers in 2024 reached RMB 1,303,699,000, a 2.6% increase from RMB 1,267,175,000 in 2023[21]. - The pre-tax profit for 2024 was RMB 467,863,000, compared to RMB 379,811,000 in 2023, indicating a growth of 23.1%[24]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to approximately RMB 4,084.7 million, compared to RMB 3,926.2 million as of December 31, 2023[5]. - The net assets as of December 31, 2024, were approximately RMB 3,475.4 million, an increase from RMB 3,324.0 million in 2023[6]. - The total liabilities for the group as of December 31, 2024, were RMB 1,424,949 thousand, compared to RMB 1,372,394 thousand in 2023[18]. - The company’s total liabilities increased to RMB 758.21 million in 2024 from RMB 710.15 million in 2023, indicating a rise of approximately 6.8%[37]. - Cash and cash equivalents decreased by approximately 32.0% from RMB 979.3 million as of December 31, 2023, to approximately RMB 665.8 million as of December 31, 2024[75]. - The current ratio as of December 31, 2024, was approximately 2.86, compared to 2.90 as of December 31, 2023[74]. - The company had no bank borrowings as of December 31, 2024, resulting in a debt-to-equity ratio of zero[76]. Research and Development - Research and development expenses for the year ended December 31, 2024, were approximately RMB 302.9 million, slightly increased from RMB 297.9 million in 2023[4]. - The group’s research and development expenses for the fiscal year 2024 totaled RMB 302,915 thousand, compared to RMB 297,921 thousand in 2023[15]. - The company submitted 321 patent applications and registered 161 patents as of December 31, 2024, with a total of 2,426 valid patent applications submitted[51]. - The company is focused on developing innovative medical devices, including a fourth-generation congenital heart defect occluder and upgrades to the left atrial appendage occluder to meet growing treatment demands[90]. - The company plans to increase R&D investment, focusing on new materials and technologies to drive product innovation and expand production lines[96]. Market Performance - The company’s revenue from the domestic market accounted for approximately 73.4% of total revenue for the fiscal year ending December 31, 2024, down from 78.3% in 2023[46]. - The company’s overseas markets, particularly Asia (excluding mainland China) and Europe, accounted for approximately 11.7% and 10.1% of total revenue, respectively, for the fiscal year ending December 31, 2024[46]. - Revenue from the structural heart disease business was approximately RMB 527.6 million, representing a growth of about 6.4% from RMB 495.7 million in the previous year[54]. - Revenue from the peripheral vascular business was approximately RMB 751.1 million, an increase of about 6.2% from RMB 707.1 million in the previous year[56]. - The company leads the domestic market share in the provision of interventional medical devices for peripheral vascular diseases, with expected continued growth due to aging population and increased disease detection rates[91]. Employee and Operational Costs - Employee costs, including director remuneration, totaled RMB 283,502,000 in 2024, an increase from RMB 247,453,000 in 2023, reflecting a rise of 14.6%[24]. - The company employs 1,392 full-time employees as of December 31, 2024, with total employee costs amounting to approximately RMB 467.9 million, compared to RMB 379.8 million in 2023[94]. - Selling and distribution expenses increased by approximately 28.0% to about RMB 339.6 million, primarily due to increased employee costs and marketing expenses[63]. - Administrative expenses rose by approximately 10.2% to about RMB 164.6 million, mainly due to increased employee costs[64]. Corporate Governance and Compliance - The company has adhered to corporate governance principles and complied with relevant laws and regulations impacting its business operations[100]. - The audit committee reviewed the audited annual results, confirming compliance with applicable accounting standards[119]. - The financial statements for the year ending December 31, 2024, were approved by the board on March 28, 2025[120]. Future Outlook and Strategy - The company plans to continue enhancing its innovation capabilities and accelerating product development to maintain its leading position in the industry[49]. - The company aims to maximize shareholder returns by actively seeking investment opportunities and diversifying its business strategy to reduce operational risks[96]. - The company is committed to creating a sustainable business without compromising the environment, investing in energy-saving technologies to reduce carbon emissions[99]. - The company will continue to optimize production and sales models to consolidate and further expand its global market share[97]. Events and Announcements - The annual general meeting for 2025 is scheduled for May 28, 2025[117]. - No significant events affecting the group occurred after December 31, 2024[111]. - No shares of the company were purchased, sold, or redeemed by the company or any of its subsidiaries during the fiscal year ending December 31, 2024[108].
先健科技(01302) - 2024 - 年度业绩