LSR(002858)2025-04-23 14:20Financial Performance - The company reported a revenue of 1.2 billion RMB for the fiscal year 2024, representing a 15% increase compared to the previous year[13]. - The company's operating revenue for 2024 was ¥440,703,050.37, representing an increase of 8.77% compared to ¥405,166,242.38 in 2023[20]. - The net profit attributable to shareholders for 2024 improved to -¥38,861,443.42, a 79.86% reduction in losses from -¥192,915,901.54 in 2023[20]. - The net cash flow from operating activities reached ¥105,266,928.14, a significant increase of 1,168.76% compared to ¥8,296,815.72 in 2023[20]. - The basic earnings per share for 2024 was -¥0.2394, an improvement of 80.02% from -¥1.1982 in 2023[20]. - The diluted earnings per share also stood at -¥0.2394, reflecting the same percentage improvement of 80.02% from -¥1.1982 in 2023[20]. - The weighted average return on equity for 2024 was -7.08%, an improvement of 23.06% from -30.14% in 2023[20]. - The overall gross margin increased to 23.12%, up by 1.23% year-on-year[94]. - The sports event management business generated revenue of ¥269,892,021.59, a growth of 20.79%, accounting for 61.24% of total revenue[95]. - The sports venue management business reported revenue of ¥113,159,112.27, a significant increase of 35.24%[96]. - The sports club management business saw a revenue decline of 52.66%, totaling ¥11,840,666.62[97]. - The digital sports business revenue decreased by 80.64%, amounting to ¥2,112,729.48[100]. - Domestic revenue grew by 1.89% to ¥234,771,247.06, while overseas revenue surged by 17.85% to ¥205,931,803.31[102]. - The company achieved a revenue of ¥440,703,050.37, representing a year-on-year growth of 8.77%[94]. - The company reported a total revenue of 3.6 billion in the latest financial period[168]. User Engagement and Market Expansion - User data showed a growth of 25% in active users, reaching 500,000 by the end of 2024[13]. - The company experienced a 40% increase in user data engagement year-over-year[170]. - The company plans to expand its market presence by entering three new provinces in China by Q3 2025[13]. - The company is focusing on market expansion strategies, particularly in the Asia-Pacific region[170]. - The company has set a target to complete the construction of 40 karting venues by December 31, 2025[142]. Strategic Initiatives and Partnerships - A strategic partnership with a leading automotive manufacturer was announced, aimed at co-developing autonomous driving solutions[13]. - The company is actively exploring opportunities in the autonomous driving sector through its investment in Gao Sheng Qing Dong (Zhuzhou) Sports Culture Development Co., Ltd.[148]. - The company has established long-term collaborations with major event organizations, successfully operating multiple international and national racing events[49]. - The company has signed a strategic agreement with Menya Video to enhance its IP marketing through cross-industry collaboration in event promotion and customer development[55]. - The company is actively involved in promoting sports consumption and event economics through various initiatives and partnerships[46]. Research and Development - The company is investing 100 million RMB in R&D for new product development, focusing on electric racing technologies[13]. - The company has developed the "Tian Yuan" autonomous driving operating system and successfully tested it in a closed professional track environment[85]. - The company is also working on a rapid cooling technology for electric racing car batteries to improve performance and safety during high-intensity events[113]. - The company aims to improve the efficiency of its racing car chassis lifting mechanism to facilitate maintenance and enhance competitive performance[113]. - R&D investment decreased by 36.07% from 13,045,952.86 CNY in 2023 to 8,340,155.62 CNY in 2024, representing 1.89% of operating revenue[114]. Sustainability and Corporate Responsibility - The company is committed to sustainability, with plans to reduce carbon emissions by 30% by 2026[13]. - The company is enhancing safety measures and insurance coverage to minimize risks associated with racing accidents during events[156]. - The company has established contingency plans to address potential income loss due to unforeseen events or natural disasters[156]. Governance and Management - The company is committed to improving its governance structure in compliance with relevant laws and regulations, ensuring independent operations from its controlling shareholder[160]. - The company has a total of 9 directors, including 3 independent directors, which meets the legal requirements[161]. - The company has a structured governance framework with a mix of executive and independent directors to ensure balanced decision-making[177][178]. - The company has a clear succession plan in place, with experienced individuals in key management positions to ensure continuity and stability[183][184]. - The company has engaged in sports cooperation with over 20 provinces and cities, including hosting international events such as the 2019 Chongqing WESG World Esports Championship[186]. Event Management and Operations - The company operates a full industry chain in automotive sports, covering various racing experiences and partnerships with international organizations[49]. - The company operates 112 events during the reporting period, including international and national-level competitions, with new additions such as the "FIA Formula E World Championship - Shanghai" and "TCR World Tour"[55]. - The company has secured the official operation and promotion rights for the "China GT Supercar Championship," expanding its portfolio of national-level events[54]. - The company has hosted over 30 promotional events for major automotive brands, including SAIC Volkswagen and Ferrari, leveraging its multi-level event platform and racing venue resources[77]. Financial Management and Investments - The company raised a total of RMB 390,499,837.56 through a non-public offering of 33,605,838 shares at RMB 11.62 per share, with a net amount of RMB 380,660,214.92 after deducting fees[138]. - The company has established a performance assessment mechanism to determine the remuneration of directors and senior management based on operational performance and assessment indicators[189]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 4.3706 million CNY[191]. - The company has made significant investments in human resources, with the current vice president, Ms. Lu Lingyun, having a robust background in human resources management from leading firms[184].