Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 11,866,628, an increase of 12.7% from RMB 10,533,681 in 2023[3] - Gross profit for the same period was RMB 1,461,919, representing a gross margin of approximately 12.3%, up from RMB 969,901 in 2023[3] - The operating profit increased significantly to RMB 1,047,296, compared to RMB 581,649 in the previous year, marking an increase of 80.4%[3] - Net profit for the year was RMB 699,132, a substantial rise of 137.5% from RMB 294,027 in 2023[3] - Basic and diluted earnings per share rose to RMB 56.75, compared to RMB 32.35 in the previous year, reflecting a growth of 75.6%[3] - Total comprehensive income for the year was RMB 691,012, compared to RMB 282,561 in 2023, indicating a growth of 144.5%[4] Assets and Liabilities - Non-current assets increased to RMB 4,206,351 from RMB 3,871,596, showing a growth of 8.6%[5] - Current liabilities decreased to RMB 3,025,313 from RMB 3,706,322, a reduction of 18.4%[6] - The company's total equity increased to RMB 3,158,184, up from RMB 2,436,554, representing a growth of 29.6%[6] - Total accounts receivable and other receivables amounted to RMB 476,258,000 in 2024, up from RMB 413,884,000 in 2023, indicating a growth of approximately 15%[27] - The company reported a decrease in accounts receivable, net of loss provisions, from RMB 235,752,000 in 2023 to RMB 190,841,000 in 2024, a decline of about 19%[27] - The total bank and other borrowings decreased from RMB 2,853,108,000 in 2023 to RMB 2,644,510,000 in 2024, a reduction of approximately 7.3%[34] - Short-term bank and other borrowings decreased from RMB 2,725,108,000 in 2023 to RMB 2,081,810,000 in 2024, a decline of about 23.6%[34] - The company’s procurement deposits decreased from RMB 797,964,000 in 2023 to RMB 749,043,000 in 2024, a decline of about 6.1%[32] - The company’s long-term bank borrowings increased from RMB 128,000,000 in 2023 to RMB 562,700,000 in 2024, representing a growth of approximately 339%[34] Revenue Breakdown - The group's revenue from gold sales in 2024 reached RMB 11,894,876,000, an increase of 16.8% compared to RMB 10,185,652,000 in 2023[17] - Revenue from other metals sales decreased to RMB 183,596,000 in 2024 from RMB 315,379,000 in 2023, representing a decline of 41.8%[17] - The total revenue for 2024, after deducting sales tax and levies, was RMB 11,866,628,000, up from RMB 10,533,681,000 in 2023, marking an increase of 12.6%[17] - The total revenue from the mining segment for fiscal year 2024 was approximately RMB 2,571,687 thousand, an increase of approximately RMB 186,268 thousand or 7.81% from RMB 2,385,419 thousand in the previous year[49] - The company's mining revenue from domestic operations was approximately RMB 2,314,365 thousand in 2024, compared to RMB 2,245,632 thousand in 2023[49] - The smelting segment achieved total revenue of approximately RMB 12,043,436 thousand in fiscal year 2024, an increase of about 13.42% from RMB 10,618,737 thousand in the previous year[54] Profitability - The company's profit for the year 2024 reached RMB 697,997,000, a significant increase from RMB 318,082,000 in 2023, representing a growth of approximately 119%[25] - The mining segment's profit for fiscal year 2024 was approximately RMB 1,107,383 thousand, an increase of about 55.96% compared to fiscal year 2023[51] - Profit from domestic mining in China increased by approximately 35.75% year-on-year, with a profit of about RMB 1,096,868 thousand in fiscal year 2024[52] - The smelting segment turned a profit of approximately RMB 48,269 thousand in fiscal year 2024, compared to a loss of about RMB 9,500 thousand in fiscal year 2023[55] Dividends and Shareholder Information - The proposed final dividend for the year is RMB 0.08 per share, totaling approximately RMB 102,958,000, an increase from RMB 79,076,000 in 2023[22] - Basic earnings per share for 2024 were calculated based on a weighted average of 1,229,935,839 shares, compared to 983,397,075 shares in 2023[24] - The board proposed a final dividend of RMB 0.08 per share for the fiscal year ending December 31, 2024, an increase from RMB 0.065 in the previous fiscal year[89] - The final dividend is expected to be distributed around July 31, 2025, pending shareholder approval at the upcoming annual general meeting[91] - The company will temporarily suspend the registration of share transfers from May 22 to May 27, 2025, to determine eligibility for attending the annual general meeting[91] - The company will also suspend share transfer registration from June 6 to June 11, 2025, to determine eligibility for receiving the final dividend[92] Future Outlook and Strategy - The company is focused on expanding its operations in China, particularly in gold mining and refining, to enhance its market position[8] - The company aims to accelerate internationalization and promote digital and green low-carbon transformation in the future[56] - The company has implemented measures to reduce debt ratios and enhance financing capabilities, including optimizing resource allocation and improving cash flow management[65] - The group faced various market risks, including fluctuations in gold prices and other commodity values, which directly impact revenue and profit[69] - The group has no major investment plans as of the publication date[85] Compliance and Governance - The company has complied with the Corporate Governance Code as per the listing rules for the fiscal year ending December 31, 2024[86] - The company's financial statements for the fiscal year ending December 31, 2024, have been compared and agreed upon by the auditor, Lixin Dehao CPA[95] - The company will withhold corporate income tax at a rate of 10% for non-resident corporate shareholders receiving the final dividend[89] - The company’s annual report for 2024 will be provided to shareholders at a later date and will be available on the Hong Kong Stock Exchange website[96] Employee and Share Issuance Information - The group had 3,618 employees at the end of the fiscal year 2024, emphasizing the importance of competitive compensation and training programs[76] - The group completed the issuance of new H-shares under general authorization, raising approximately HKD 42.4 million for the procurement of gold concentrates for gold bar production[78] - The group also completed another issuance of new H-shares, raising approximately HKD 79.3 million for the same purpose, with funds expected to be utilized by July 2025[79] - The group reported no significant contingent liabilities as of December 31, 2024[74] - The group is exposed to interest rate risk, which could increase financing costs if the People's Bank of China raises interest rates[70] - The group has implemented a share incentive plan approved by the board on September 5, 2024[77] - The audit committee reviewed and confirmed the annual performance for the fiscal year 2024, with no objections to the accounting treatment adopted by the company[94]
灵宝黄金(03330) - 2024 - 年度业绩