Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 3,441,234, representing a growth of 4.2% compared to RMB 3,302,422 in 2023[5] - The net profit attributable to the owners of the company decreased by 17.7% to RMB 801,134 from RMB 973,607 in the previous year[5] - The basic earnings per share for the year was RMB 0.41, down 18.0% from RMB 0.50 in 2023[5] - The total profit for the year was RMB 790,529 thousand in 2024, down from RMB 980,697 thousand in 2023, indicating a decrease of approximately 19.4%[23][24] - The company's income tax expense for 2024 totaled RMB 246,520,000, an increase of 25.3% from RMB 196,711,000 in 2023[30] - The pre-tax profit for 2024 was RMB 1,037,049,000, down 11.9% from RMB 1,177,408,000 in 2023[32] - The gross profit margin for the period was 49.6%, down from 52.2% in the previous year, reflecting a decline of 2.6 percentage points[47] - Net profit for the period was RMB 790.5 million, down 19.4% from RMB 980.7 million in 2023, with profit attributable to shareholders at RMB 801.1 million, a decrease of 17.7% from RMB 973.6 million in 2023[68] Revenue Breakdown - Revenue from commercial construction services was RMB 2,752,490 thousand in 2024, up from RMB 2,346,326 thousand in 2023, indicating a significant increase of about 17.3%[18] - Revenue from government construction services decreased to RMB 625,846 thousand in 2024 from RMB 788,480 thousand in 2023, reflecting a decline of approximately 20.6%[18] - The company's revenue for 2024 was RMB 3,441.2 million, representing a year-on-year growth of 4.2% compared to RMB 3,302.4 million in 2023, with commercial agency contributing 80% of total revenue[59] - Commercial construction remains the largest revenue and profit source, generating RMB 2,752.5 million, accounting for 80.0% of total revenue, up 17.3% from RMB 2,346.3 million in 2023[61] Assets and Liabilities - The total non-current assets as of December 31, 2024, were RMB 2,071,701, down from RMB 2,292,582 in 2023[8] - The total current assets increased to RMB 4,705,067 from RMB 4,440,069 in the previous year[8] - The total liabilities increased to RMB 2,793,699 from RMB 2,420,287 in 2023[8] - The company's equity attributable to owners decreased to RMB 3,810,170 from RMB 3,995,747 in the previous year[9] - The total equity as of December 31, 2024, was approximately RMB 3,941.6 million, down from RMB 4,133.6 million at the beginning of the year[72] Expenses - The administrative expenses decreased by 6.5% to RMB 481,081 from RMB 514,505 in the previous year[5] - The total administrative expenses for the year were RMB 14,668 thousand, which included research and development costs of RMB 23,591 thousand, down from RMB 31,785 thousand in 2023[29] - Other income decreased by 28.4% to RMB 111.6 million from RMB 155.8 million in 2023, primarily due to reduced equity investment dividends[63] - Service costs for the period reached RMB 1,735.7 million, an increase of 9.8% compared to RMB 1,580.1 million in 2023[60] Dividends - The company proposed a final dividend of RMB 0.24 per share, totaling RMB 482.4 million, subject to shareholder approval[4] - The company declared a final dividend of RMB 0.40 per share for the year ended December 31, 2023, totaling RMB 1,005,000,000, compared to RMB 766,361,000 in 2022[33] Operational Highlights - The total contracted project construction area increased by 5.0% to 125.6 million square meters from 119.6 million square meters in 2023[5] - The company maintained a market share of over 20% for nine consecutive years, reaffirming its leadership in the construction management industry[46] - The company achieved a delivery satisfaction rate of 95% for B-end clients and 89% for C-end clients, leading the industry in both delivery volume and customer satisfaction[53] - The area under construction increased to 53.96 million square meters, a growth of 2.9% year-on-year, with major economic regions maintaining a significant proportion of the total[51] Employee and Corporate Governance - As of December 31, 2024, the company had 2,377 employees, an increase of 15.61% from December 31, 2023, with male and female employees accounting for 76.82% and 23.18% respectively[83] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange Listing Rules, ensuring compliance with all applicable provisions during the year ending December 31, 2024[85] Market Conditions - The construction management industry is experiencing a slowdown, with new construction area declining by 5% year-on-year, but contract signing volumes are expected to recover in the fourth quarter of 2024[48] - The proportion of new projects in first- and second-tier cities increased to 58%, up 6 percentage points from the previous year[52] Financial Reporting and Compliance - The group has not adopted any new international financial reporting standards that have been issued but are not yet effective, planning to apply them when they come into force[17] - The application of the revised International Financial Reporting Standards did not have a significant impact on the group's financial position or performance for the current and prior years[14][15][16] - The financial information disclosed does not constitute audited accounts but represents an extract of the consolidated financial statements for the year ending December 31, 2024, audited by Ernst & Young[90]
绿城管理控股(09979) - 2024 - 年度业绩