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中国稀土(00769) - 2024 - 年度财报
00769CHINA RAREEARTH(00769)2025-04-29 10:11

Financial Performance - Revenue for the year ended December 31, 2024, was HK756million,a9756 million, a 9% increase from HK686 million in 2023[14] - Net loss attributable to owners of the company for 2024 was HK105million,animprovementfromanetlossofHK105 million, an improvement from a net loss of HK201 million in 2023[16] - The revenue for refractory products in 2024 was HK354million,showingasignificantincreasefromHK354 million, showing a significant increase from HK303 million in 2023[15] - Revenue from the rare earth segment increased by approximately 37% to about HK645,370,000,contributingapproximately85645,370,000, contributing approximately 85% of the Group's total revenue[34] - Revenue from the refractory segment decreased by approximately 49% to about HK111,287,000, accounting for approximately 15% of the Group's total revenue[34] - The overall gross loss margin for the Group was approximately 7%, with a net loss narrowing to approximately HK107,146,000,andlosspersharewasapproximatelyHK4.48cents[34]Thesalesvolumeofrareearthproductsdecreasedby9107,146,000, and loss per share was approximately HK4.48 cents[34] - The sales volume of rare earth products decreased by 9% to approximately 430 tonnes, with average selling prices declining due to market conditions[40] - The refractory materials segment sold approximately 15,760 tonnes, representing a year-on-year decrease of 28%, with segment loss approximately HK43,455,000[46] Market Conditions - The company faced challenges due to intensified market competition and price volatility in the rare earth industry, alongside stricter environmental regulations impacting supply stability[25] - The global economic recovery remains uncertain, with geopolitical tensions affecting the stability of supply chains in the rare earth sector[25] - The company continues to adapt to international trade frictions and geopolitical factors that disrupt the market flow of rare earth materials[25] - The demand for rare earth materials is expected to increase, particularly in high-tech industries, under the "Carbon Peak and Carbon Neutrality" initiative[53] Operational Strategy - The company is focused on optimizing its operational structure and enhancing product quality to improve overall performance in a challenging market environment[26] - The Group aims to actively seize upstream development opportunities and strengthen market segment development while preparing to provide high-quality products in the future[84] - Looking ahead, the Group aims to enhance product quality and technology, establish long-term customer relationships, and promote innovative business development[60] Financial Position - Net assets as of December 31, 2024, decreased to HK1,895millionfromHK1,895 million from HK2,044 million in 2023, reflecting a decline of 7.3%[18] - As of December 31, 2024, the Group held cash and bank deposits totaling approximately HK965,953,000,adecreaseofHK965,953,000, a decrease of HK333,496,000 from HK1,299,449,000attheendof2023[61]ThenetcurrentassetsasofDecember31,2024,wereapproximatelyHK1,299,449,000 at the end of 2023[61] - The net current assets as of December 31, 2024, were approximately HK1,730,138,000, down from HK1,823,383,000attheendofthepreviousyear[62]Thetotalliabilitiestototalassetsratioremainedstableatapproximately51,823,383,000 at the end of the previous year[62] - The total liabilities to total assets ratio remained stable at approximately 5%[62] Corporate Governance - The Board believes that good corporate governance standards are essential for safeguarding shareholder interests and enhancing corporate value[118] - The Company has adopted its own code of corporate governance based on the principles of the Corporate Governance Code, and has complied with it throughout the year ended December 31, 2024[119] - The Board currently comprises seven members, including three executive directors, one non-executive director, and three independent non-executive directors, ensuring a strong independent element[126] - The Company has established an independence assessment mechanism for the Board to ensure strong independent elements and effective independent judgment[154] Human Resources - The Group employed approximately 220 employees as of December 31, 2024, with total staff costs, including directors' emoluments, amounting to approximately HK19,318,000, a decrease from the same period in 2023[72] - The Group continues to provide on-the-job training and study opportunities to employees to maintain professional competence[72] - The Company emphasizes effective communication with employees to share corporate values and address inappropriate practices[112] Board Composition and Diversity - As of December 31, 2024, the gender ratio in the Board is 14% female and 86% male, with overall workforce gender ratio at 28% female and 72% male[172][174] - The Company aims to maintain a balanced diversity perspective on the Board relevant to business growth[168] - The Board has not set measurable objectives for diversity but considers the current composition sufficiently diverse[169] Risk Management - The Company emphasizes risk control and business development planning through its board of directors[94] - The Audit Committee assists the Board in reviewing the relationship with the auditor, financial information, and internal control procedures[194] - The Audit Committee's role includes overseeing risk management systems and financial reporting matters[194]