Financial Performance - The total assets of the company reached RMB 3.3 trillion, marking a significant milestone[11]. - The company reported continuous growth in net profit, maintaining a positive growth trend[11]. - The non-interest income saw a substantial increase, contributing to the overall revenue growth[11]. - In 2024, the company's operating income reached 67.702 billion CNY, an increase of 6.18% year-on-year[33]. - Net profit attributable to shareholders was 15.186 billion CNY, reflecting a growth of 0.92% compared to the previous year[33]. - Total assets amounted to 3.33 trillion CNY, up 5.78% from the end of the previous year[33]. - The total amount of loans and advances was 18.6 trillion CNY, increasing by 8.21% year-on-year[33]. - The bank's net profit for 2024 was CNY 15.693 billion, up from CNY 15.493 billion in 2023, indicating a steady growth trend[66]. - Operating income for 2024 was CNY 67.702 billion, compared to CNY 63.764 billion in 2023, showing an upward trajectory[67]. - The non-interest income reached CNY 22.545 billion in 2024, a significant increase from CNY 16.236 billion in 2023[68]. Asset Quality and Risk Management - The company has achieved a reduction in the non-performing loan ratio for three consecutive years[16]. - The non-performing loan ratio at the end of 2024 was 1.38%, with a provision coverage ratio of 178.67%, indicating improved asset quality[19]. - The bank's non-performing loan ratio improved to 1.38% in 2024, down from 1.44% in 2023, reflecting better asset quality management[72]. - The bank has achieved record levels in handling non-performing assets, emphasizing risk management as a top priority[20]. - The company maintains a prudent risk appetite, focusing on "small and diversified" credit principles to support the real economy[165]. - The risk management framework includes a Chief Risk Officer and various committees to oversee comprehensive risk management[166]. - The company has strengthened its credit management system, implementing a unified credit management policy for corporate clients to enhance overall credit control and risk prevention measures[171]. - The company has established a comprehensive risk management framework for anti-money laundering (AML) in compliance with relevant laws and regulations in China[198]. Regional Support and Market Position - Financing services provided to the Zhejiang province exceeded RMB 1 trillion, demonstrating strong regional support[16]. - The financing service volume for Zhejiang province exceeded 1 trillion for the first time, with the bank ranking first in local bond underwriting[21]. - The company has been recognized as the "Most Satisfied Bank for Private Enterprises" in Zhejiang for five consecutive years[16]. - The bank ranked first in underwriting local government bonds in Zhejiang, with an issuance of CNY 40.3 billion in 2024, accounting for 8.48% of the market share[52]. Digital Transformation and Innovation - The company launched a series of influential brands, including supply chain finance and talent innovation finance, as part of its digital transformation strategy[16]. - The company aims to deepen digital transformation and develop five major business segments: retail, corporate, investment banking, asset management, and cross-border services[42]. - The company has developed a comprehensive digital inclusive finance brand, introducing products like "Digital Easy Loan" and "Digital Science Loan" to enhance service capabilities[49]. - The company is focusing on customer-centric comprehensive collaborative reforms to enhance service to the real economy and promote inclusive finance[199]. Talent Development and Organizational Culture - The bank has implemented a "123 Talent Plan" to enhance employee engagement and create a positive organizational culture[19]. - The company has implemented a "123 Talent Plan" to enhance talent reserves, focusing on young and highly educated professionals[44]. - The company aims to enhance its financial technology and retail talent development to optimize expenditure structure and improve management capabilities[109]. Compliance and Governance - The company is committed to compliance and governance, enhancing its regulatory image and operational efficiency[25]. - The compliance risk management framework has been enhanced to ensure legal and regulatory compliance, with ongoing initiatives to improve compliance risk management effectiveness[192]. - The company has actively engaged in compliance image enhancement activities, promoting internal control and compliance requirements among employees[193]. Customer Base and Service Enhancement - The company increased its retail customer base to 11.6654 million, representing a growth of 20.75% compared to the beginning of the year[200]. - The company is exploring platform-driven customer acquisition models through collaborative partnerships[200]. - The company has implemented online operations to effectively enhance the value extraction of existing customer bases[200].

Financial Performance - Landsea Green Life reported a revenue of HK$1.2 billion for the fiscal year 2024, representing a year-on-year increase of 15%[1]. - The company achieved a net profit of HK$300 million, which is a 20% increase compared to the previous year[1]. - The company has set a revenue guidance of HK$1.5 billion for the next fiscal year, projecting a growth of 25%[1]. - The Group's revenue decreased by approximately 15.3% from approximately RMB931 million for the Year of 2023 to approximately RMB789 million for the Year of 2024[175]. - Revenue from property management services decreased by approximately 4.6% from approximately RMB703 million for the Year of 2023 to approximately RMB671 million for the Year of 2024[179]. - Revenue from value-added services to non-property owners decreased by approximately 77.4% from approximately RMB106 million for the Year of 2023 to approximately RMB24 million for the Year of 2024[180]. - Revenue from community value-added services decreased by approximately 20.9% from approximately RMB86 million for the Year of 2023 to approximately RMB68 million for the Year of 2024[181]. - Revenue from apartment operation and management services decreased by approximately 27.8% from approximately RMB36 million for the Year of 2023 to approximately RMB26 million for the Year of 2024[183]. - The Group's gross profit decreased by approximately 53.1% from approximately RMB145 million for the Year of 2023 to approximately RMB68 million for the Year of 2024[186]. - The gross profit margin decreased from approximately 15.6% for the Year of 2023 to approximately 8.6% for the Year of 2024[186]. User Engagement and Community Initiatives - User data indicates a growth in active users to 1.5 million, up 25% from the previous year[1]. - The company launched a "one-stop lifestyle service platform," significantly enhancing customer engagement through services like home management and retail, transitioning from basic operations to a comprehensive lifestyle ecosystem[66]. - In 2024, the company hosted 1,006 events, attracting over 34,000 registered users, transforming the community into an "emotional community"[67]. - The "Landsea Friends" APP registered users reached 34,000, with cumulative visits exceeding 470,000, facilitating high-frequency community interactions[163]. - A total of 1,006 activities were held throughout the year, engaging 85,000 residents, with 34.8% of activities planned by residents themselves[163]. Sustainability and Corporate Social Responsibility - Landsea Green Life is investing HK$200 million in new product development, focusing on sustainable living solutions[1]. - The company has adopted a management model prioritizing efficiency and dynamic optimization, divesting from long-term loss-making projects to focus on high-value areas[63]. - The company is committed to sustainability through initiatives like recycling old clothes to plant trees, creating a green ecological barrier in Northwest China[67]. - On April 29, 2024, Landsea Green Life released its "2023 Environmental, Social and Governance Report," emphasizing its commitment to the national "30-60" dual carbon goals[45]. - The company will enhance its public welfare initiatives, including a "Warm Winter Programme" providing 334 insulated jackets to students in high-altitude areas[67]. - The company is committed to exploring sustainable community carbon neutral pathways, with five related invention patents successfully applied for[171]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[1]. - Landsea Green Life is exploring potential acquisitions to enhance its service offerings, with a budget of HK$500 million allocated for this purpose[1]. - The company aims to build a comprehensive service ecosystem integrating "property + lifestyle + assets," enhancing its service offerings from basic operations to life empowerment[59]. - The company is expanding its long-term rental apartment sector using light-asset models across 12 core cities, creating a closed loop of "investment-operation-service"[64]. - The company aims for a compound annual growth rate in contracted area that exceeds the industry average over the next three years, focusing on high-potential areas like the Yangtze River Delta[69]. Awards and Recognition - Landsea Green Life has received several accolades for its sustainability initiatives, enhancing its brand reputation in the market[1]. - Landsea Green Life was awarded "TOP22 of 2024 TOP100 Property Management Companies in China" and recognized as a leading company in internet community operation and marketization of business[21]. - The company received three major industry awards at the "2024 China Property Comprehensive Strength Top 100 Enterprises Research Conference," including "22nd of 2024 Top 100 Property Management Companies in China" and "2024 Top 100 High-quality Service Property Management Companies in China"[25]. - At the "Towards New 2024 China Property Enterprises Comprehensive Strength Top 100 Summit," Landsea Green Life was awarded "21st in Comprehensive Strength of China's Property Enterprises in 2024" and recognized as a benchmarking enterprise in public building property services[28]. - The company was honored with the "2024 ESG Best Practice of China Listed Property Management Service Companies" at the "2024 China Property Management Industry Listed Property Enterprises Evaluation Research Report" release[31]. Management and Governance - Mr. Tian Ming was appointed as an executive director on March 28, 2024, and has over 20 years of experience in competitive strategy and property investment[85]. - Mr. Wu Xu, the CEO, oversees daily operations and has been with the group since May 2017, currently managing Nanjing Property Management[87][90]. - Ms. Xue Yuan, appointed as CFO on March 28, 2024, has held various positions within Landsea Group since February 2004, focusing on financial management[91][94]. - The company continues to strengthen its governance structure with the appointment of experienced directors[99][106]. - The leadership team has a strong educational background, with degrees from prestigious institutions such as Nanjing University and CEIBS[86][98]. Operational Efficiency and Cost Management - The company has implemented new strategies to improve operational efficiency, aiming for a 15% reduction in costs by the end of 2025[1]. - The company is strengthening its digital risk control system and optimizing its cost structure to reduce reliance on individual customers[75]. - Administrative expenses decreased by approximately 21.2% from about RMB 113 million in 2023 to approximately RMB 89 million in 2024, primarily due to savings in staff costs[194]. - The Group's cost of sales and services decreased by approximately 8.3% from approximately RMB786 million for the Year of 2023 to approximately RMB721 million for the Year of 2024[185].

Financial Performance - The company reported a revenue of RMB 1,283 thousand for the fiscal year 2024, a significant increase compared to RMB 56,596 thousand in 2023[15]. - The gross profit for 2024 was RMB 735 thousand, showing a recovery from a gross loss of RMB 24,692 thousand in 2022[15]. - The net loss margin for 2024 was reported at -23,455.7%, a significant increase from -255.7% in 2023, reflecting ongoing challenges[15]. - Total assets decreased to RMB 2,124,572 thousand in 2024 from RMB 2,332,756 thousand in 2023, indicating a reduction in financial resources[15]. - The annual loss increased from RMB 144.7 million for the year ended December 31, 2023, to RMB 300.9 million for the year ending December 31, 2024, primarily due to increased R&D expenditures for obesity and other metabolic diseases[19]. - Other income and gains decreased by 35.1% from approximately RMB 184.7 million for the year ended December 31, 2023, to approximately RMB 119.8 million for the year ended December 31, 2024[58]. - The total revenue decreased from approximately RMB 566 million for the year ended December 31, 2023, to RMB 1.3 million for the year ended December 31, 2024, due to strategic adjustments in response to the easing of the COVID-19 pandemic[55]. Research and Development - Research and development costs increased to RMB 302,394 thousand in 2024, up from RMB 216,781 thousand in 2023, indicating a strong focus on innovation[15]. - R&D expenses increased by 39.5% from approximately RMB 216.8 million for the year ended December 31, 2023, to approximately RMB 302.4 million for the year ending December 31, 2024[19]. - R&D costs for metabolic diseases surged to RMB 99,237 thousand in 2024 from RMB 12,290 thousand in 2023, reflecting a significant focus on this area[66]. - The company plans to initiate a 13-week IIa phase clinical study for ASC30 in the U.S. in 2025[28]. - The company expects to announce topline results from the Ib phase clinical study of ASC30 in the U.S. in 2025[32]. - The ASC30 subcutaneous injection, administered monthly or less frequently, is expected to show promising results as a first-in-class treatment for obesity, with interim data anticipated by March 2025[10]. - The ASC47 subcutaneous injection, also targeting obesity, demonstrated a half-life of up to 40 days in patients, indicating potential for effective weight loss without muscle loss[10]. - The ASC30 is a new chemical entity (NCE) with patent protection in the U.S. and globally until 2044, showing strong competitive potential for obesity treatment[27]. - The ASC47 single-agent Ib phase study in Australia showed positive topline results, with an average weight loss of 1.7% at peak after a single injection[33]. Strategic Decisions and Initiatives - The company has made strategic decisions to terminate multiple plans and optimize R&D resources to focus on globally competitive pipeline products[11]. - The company remains committed to sustainability initiatives aimed at reducing its carbon footprint while enhancing operational efficiency[11]. - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by 30% by 2025[1]. - The company is exploring partnerships with leading universities to accelerate drug development processes[1]. - The company has decided to terminate the ASC22 project for chronic hepatitis B functional cure based on strategic planning and resource optimization[37]. Cash and Financial Position - As of December 31, 2024, the group's cash and cash equivalents are approximately RMB 1,980.8 million, down from RMB 2,299.4 million as of December 31, 2023, sufficient to support R&D activities until 2029[19]. - Cash and cash equivalents increased to approximately RMB 864.3 million as of December 31, 2024, from RMB 330.1 million as of December 31, 2023, reflecting a net increase of RMB 533.8 million[97]. - Net cash used in operating activities for the year ended December 31, 2024, was approximately RMB 341.6 million, primarily due to an operating loss of approximately RMB 355.4 million before changes in working capital[99]. - Net cash generated from investing activities for the year ended December 31, 2024, was approximately RMB 978.9 million, mainly due to a decrease in time deposits of approximately RMB 866.0 million[100]. - Net cash used in financing activities for the year ended December 31, 2024, was approximately RMB 103.5 million, primarily attributed to the repurchase of shares at a total cost of approximately RMB 98.5 million[101]. Employee and Operational Insights - The total employee cost for the year ending December 31, 2024, was approximately RMB 136.1 million, down from RMB 144.0 million for the year ending December 31, 2023[116]. - The company has 231 employees as of December 31, 2024, with 69.7% in R&D and over 81.3% holding a bachelor's degree or higher[116]. - The company recognizes the importance of attracting and retaining quality employees and provides regular training programs, including onboarding, technical, professional, and safety training[146]. Shareholder and Equity Information - As of December 31, 2024, the total number of issued shares was 1,012,758,000, including treasury shares[168]. - Dr. Wu holds 514,393,664 shares through JJW12 Limited, representing 50.79% of the company's equity[162]. - The company repurchased a total of 41,692,000 shares as treasury shares, authorized by shareholders at the annual general meeting on May 23, 2024[168]. - The company has decided to reallocate 30.8% of the unutilized proceeds to support the development of metabolic disease candidates such as ASC47 and ASC30[188]. - The board of directors did not recommend the payment of any final dividend for the year ending December 31, 2024[177]. Compliance and Risk Management - The company has established compliance procedures to ensure adherence to applicable laws and regulations that significantly impact its operations[144]. - The company has identified key risks, including regulatory approval for drugs in development and the ability to attract and retain senior management and key research staff[149]. - The company has received confirmation from its controlling shareholder regarding compliance with non-competition commitments during the reporting period[157].

Production and Innovation - The Group's total production capacity exceeds 1 billion pieces of capacitors per month[8] - The Group launched the innovative Polymer Caps in 2006, becoming a major global vendor in this segment[5] - The Group operates state-of-the-art manufacturing facilities in Dongguan and Wuxi, China[8] - The Group has introduced energy-efficient solutions, including capacitors for LED lamps and high-efficiency lighting[9] - The Group has a well-trained R&D team that fosters creativity and innovation in product development[6] - The Group's ongoing investments in R&D for AI and energy storage technologies position it to capitalize on significant market opportunities[56] - The new production facility in Qingyuan, China, is designed to enhance operational efficiency and scale production capabilities[73] Environmental Commitment - The Group's products comply with the European Union's RoHS directive, ensuring they meet environmental standards[7] - The Group is committed to environmental sustainability, with all products being halogen-free and compliant with RoHS[9] Financial Performance - For the year ended December 31, 2024, the company achieved revenue of HK$1,611,568,000, representing a 9.6% increase compared to HK$1,470,952,000 in 2023[32] - Gross profit for 2024 was HK$247,329,000, a decrease of 7.2% from HK$266,408,000 in 2023[32] - EBITDA for 2024 was HK$140,945,000, down 5.8% from HK$149,669,000 in 2023[32] - Profit attributable to shareholders increased by 91.8% to HK$7,818,000 in 2024, compared to HK$4,076,000 in 2023[32] - Earnings per share rose to 1.64 HK cents in 2024, a 90.7% increase from 0.86 HK cents in 2023[32] - Net assets per share decreased by 3.3% to 314.44 HK cents in 2024, down from 325.07 HK cents in 2023[32] - The gross profit margin declined from 18.1% in 2023 to 15.3% for the Year, primarily due to a shift in the product mix towards lower-margin sales[47] - Net profit attributable to Shareholders increased to approximately HK$7,818,000 for the Year, compared to approximately HK$4,076,000 in 2023, driven by effective cost management and lower operating expenses[51] Market Trends and Strategic Focus - The company focused on developing cutting-edge solutions in artificial intelligence and energy storage applications to capture new market opportunities[35] - Strategic partnerships were forged in 2024 to co-develop innovative solutions, expected to yield breakthroughs and new revenue streams[40] - The Group's strategic focus on the mainland China market has allowed it to mitigate some adverse effects of global economic volatility and sustain growth[52] - The Group anticipates steady growth in market demand driven by increasing market needs and industry trends closely aligned with its product offerings[73] - The AI market is projected to reach US$243.72 billion in 2025, with a compounded annual growth rate of 27.67% from 2025 to 2030, resulting in a market volume of US$826.73 billion by 2030[56] - The energy storage sector is emerging as a key driver of global economic growth, supported by government policies and technological advancements, with increasing demand for renewable energy solutions[60] Supply Chain and Risk Management - The company is diversifying its supply chain and exploring alternative sourcing strategies to mitigate risks from ongoing trade tensions[41] - The Group implemented initiatives to streamline production processes and enhance resource efficiency, which helped to partially offset the decline in gross profit margin[50] - The Group achieved a slight improvement in operational efficiency, contributing to a reduction in production costs and maintaining competitiveness in a challenging market environment[61] - The Group is actively involved in optimizing supply chain resources and monitoring systems[101] Leadership and Governance - The company has a strong leadership team with Chan Tat Cheong overseeing corporate finance, treasury management, and investor relations, bringing over 30 years of experience in accounting and financial management[86] - The company has a diverse board with independent non-executive directors who bring extensive legal and financial expertise, enhancing governance and strategic oversight[87][90] - The Company has established various committees, including the Remuneration Committee and Audit Committee, to ensure effective governance and oversight[87] - The Company has mechanisms in place to ensure independent viewpoints are considered in corporate governance, including communication channels with shareholders[188] - The Board consists of three Executive Directors and three Independent Non-executive Directors, with Independent Non-executive Directors representing more than one-third of the Board, complying with Rule 3.10A of the Listing Rules[110] - The Company adopted the Corporate Governance Code and has taken sufficient measures to ensure compliance throughout the Year[108] Employee and Board Development - The Group employed a total of 2,227 employees as of December 31, 2024, an increase from 2,200 in 2023[77] - Newly appointed Directors receive comprehensive induction and training to understand the Company's operations and their responsibilities[131] - Directors participate in continuous professional development, including a specific in-house training seminar on Environmental, Social and Governance (ESG) held in November 2024[134] Financial Health and Capital Management - As of December 31, 2024, the Group's cash and cash equivalents were approximately HK$208,172,000, a decrease from approximately HK$249,720,000 in 2023[64] - The total outstanding bank and other borrowings amounted to approximately HK$1,002,053,000, down from approximately HK$1,032,171,000 in 2023[64] - The net gearing ratio increased to 53.1% as of December 31, 2024, compared to 50.6% in 2023[65] - The net working capital decreased to approximately HK$147,189,000, down by approximately HK$36,637,000 from HK$183,826,000 in 2023[66] Shareholder Engagement - The Company is committed to maintaining strong investor relations, which is crucial for its financial health and market position[86] - A circular will be sent to Shareholders providing information about nominated candidates, including their qualifications and proposed remuneration[147] - Shareholders can propose candidates for directorship without the Board's recommendation, and these candidates' particulars will be sent to all Shareholders[154]

Economic Environment - The Group faced significant challenges due to global economic volatility and discontinued certain non-profitable mining operations to build a more resilient business[12]. - Global economic growth is projected to remain at 3.2% in 2024, with slow but steady recovery expected[15]. - The instability from geopolitical conflicts, particularly in Russia-Ukraine and the Middle East, poses significant risks to global economic recovery[14]. - The overall operating environment in the PRC remained challenging due to ongoing US-China tensions and high US dollar interest rates[48]. - The economic growth in the PRC post-pandemic was described as modest, with market difficulties persisting from prior years[48]. Market Demand and Operations - There has been a shift in market demand towards high-quality and low-pollution coal products, prompting increased investments in coal processing and mixing[13]. - The Group adopted state-of-the-art coal washing techniques to reduce impurities and minimize pollutant emissions during combustion[13]. - The Group will continue to optimize coal mixing strategies to provide customized solutions for various industries[13]. - The Group's coal trading revenue reflects the ongoing challenges in the coal market and the impact of external economic factors[56]. - The decision to discontinue the coal trading business reflects the Group's commitment to optimizing its operational framework and driving sustainable growth in its core business segment[61]. Financial Performance - The Group's revenue from continuing operations was approximately HK$120,234,000, while revenue from discontinued operations was approximately HK$113,935,000[56]. - The Group recorded a revenue of approximately HK$120,234,000 for the year, representing an increase of approximately HK$24,554,000 or 25.7% compared to approximately HK$95,680,000 in the previous year[74]. - The Group's loss from continuing operations for the year was approximately HK$241,236,000, an increase from approximately HK$193,519,000 in the previous year[76]. - The Group reported a loss before taxation of HK$237,514,000 in 2024, an improvement from a loss of HK$3,976,091,000 in 2023[108]. - The Group's total cash and cash equivalents decreased to approximately HK$2,016,000 as of December 31, 2024, from approximately HK$101,430,000 as of December 31, 2023[99][104]. Governance and Management - The Company has a strong governance structure with various committees including audit, remuneration, nomination, and risk management[32][39][41]. - The Company is focused on enhancing its corporate governance through experienced directors and committee structures[32][39][41]. - The Group continues to expand its leadership team with experienced professionals to drive future growth[27][32][39]. - The Group adopts a proactive risk management approach to mitigate business and operational risks, including establishing long-term partnerships with reliable suppliers and optimizing logistics and inventory management systems[115]. - The Group actively monitors macroeconomic conditions and government policies in the PRC to mitigate economic risks, employing a flexible business strategy that includes diversifying operations and optimizing cost structures[116]. Strategic Initiatives - The Group has initiated a strategic rebuilding initiative to strengthen its core coal operations, including securing new premises and upgrading to state-of-the-art equipment[58]. - The Group is exploring business opportunities related to cassava-based agricultural and deep processing in Cambodia[66]. - The Group is also seeking opportunities in the systems integration services and software solutions segment[67]. - The Group has invested approximately RMB2,035,000 (equivalent to approximately HK$2,261,000) in machinery for the coal mixing business[64]. - Hengbaitai, a wholly-owned subsidiary, is expected to enhance profitability through coal mixing and the sale of mixed coal, with a new facility located in Shanxi[64]. Risk Management - The Group categorizes customers based on internal credit ratings to manage credit risk, avoiding acceptance of bills from customers with low credit ratings[120]. - The Group actively manages price risk in coal trading by monitoring market trends and employing a diversified procurement strategy to reduce dependence on a single market or supplier[122]. - The Group closely monitors foreign currency exposure to manage exchange rate risk and considers hedging significant exposures when necessary[122]. - The Group continuously improves management rules and promotes energy saving to address environmental risks associated with stringent regulations[125]. - The Group closely monitors changes in the regulatory environment to mitigate legal and regulatory risks, ensuring adequate resources are allocated for compliance[125]. Human Resources - The Group offers competitive reward packages to attract and retain talent, ensuring a conducive working environment for employees[125]. - The Group's total staff costs from continuing operations amounted to approximately HK$6,512,000 for the Year, compared to approximately HK$5,923,000 for the previous year[185]. - The Group employed approximately 47 full-time employees in Hong Kong and the PRC as of December 31, 2024[183]. Shareholder and Market Information - The Company maintained a public float of not less than 25% of its total issued share capital throughout the Year[172]. - The Group did not purchase, redeem, or sell any of its listed securities during the Year[173]. - No dividends were recommended for the year, consistent with the previous year[151]. - Sales to the Group's largest customer accounted for approximately 72% of total sales in 2024, while sales to the five largest customers accounted for approximately 100%[174]. - Purchases from the Group's largest supplier accounted for approximately 33% of total purchases in 2024, with the five largest suppliers accounting for approximately 97%[174].

Sales and Revenue Performance - In 2024, the total sales volume of raw milk increased by 23.2% to 566,704 tons compared to 459,950 tons in 2023[10]. - Revenue from raw milk sales reached RMB 2,550.0 million, a 15.8% increase from RMB 2,201.9 million in 2023[10]. - Total fresh milk sales revenue reached RMB 2,552 million, a 15.5% increase from the same period in 2023[17]. - The total sales of raw milk increased by 15.5% to RMB 2,551.9 million for the year ending December 31, 2024, compared to RMB 2,208.6 million in 2023[29]. - The sales volume of raw cow milk rose by 23.2% to 566,704 tons, while the sales volume of raw sheep milk decreased by 67.2% to 306 tons[29]. Production and Livestock Management - China's milk production in 2024 was 40.79 million tons, a decrease of 2.8% year-on-year, indicating effective supply control[9]. - The average annual milk production per cow increased by 9.5% to 12.7 tons from 11.6 tons in 2023[21]. - The total number of dairy cows increased by 4.7% to 107,296 from 102,497 in 2023[23]. - The number of breeding cows rose by 23.8% to 49,330 from 39,861 in 2023[24]. - The company reported a total milk production of approximately 587,515 tons in 2024, up from 476,284 tons in 2023[168]. Financial Performance - Gross profit increased by 59.9% to RMB 944.6 million, with a gross margin improvement from 26.7% in 2023 to 37.0% in 2024[31]. - Other income and gains rose by 10.2% to RMB 158.7 million, attributed to increased interest income, government subsidies, and gains from the sale of a subsidiary[32]. - Administrative expenses decreased by approximately 17.4% to RMB 115.1 million, primarily due to reduced maintenance costs[33]. - The net profit for the year was RMB 296.7 million, a significant recovery from a net loss of RMB 339.7 million in 2023, with basic earnings per share of RMB 6.32[37]. - Cash inflow from operating activities was RMB 1,013.8 million, up from RMB 745.3 million in 2023[40]. Market and Industry Outlook - The outlook for 2025 suggests that milk prices may remain under pressure due to supply-side inventory issues despite improved consumer confidence[12]. - The dairy industry in China is expected to see gradual growth in consumption due to rising living standards and health awareness[26]. - The overall economic growth in China is projected at 5.0% for 2024, supporting the dairy sector's development[16]. - The company aims to enhance its competitive advantage in the dairy industry while optimizing production management efficiency[12]. Corporate Governance and Management - The board expresses gratitude to shareholders and acknowledges the contributions of the management team and employees over the past year[12]. - The company has a robust management team with diverse backgrounds in finance, production, and supply chain management[63][64]. - The board is responsible for overseeing business management and overall performance, ensuring necessary financial and human resources are in place[85]. - The company has a clear strategy for monitoring and improving corporate governance practices[81]. - The board has implemented an independence assessment mechanism to ensure strong independence and effective decision-making for shareholder protection[88]. Environmental, Social, and Governance (ESG) Initiatives - The company has established an environmental, social, and governance (ESG) working group to manage ESG matters, with the board of directors responsible for identifying and assessing related risks[151]. - The company aims to enhance transparency and accountability in its ESG efforts, regularly reviewing performance against ESG-related goals[151]. - The company has committed to expanding its disclosure requirements in the ESG report, including key performance indicators and comparative data[149]. - The company emphasizes the importance of stakeholder engagement in identifying significant ESG issues[150]. - The company has implemented measures to comply with environmental regulations, focusing on reducing greenhouse gas emissions and waste management[164]. Employee and Workplace Management - The total number of full-time employees as of December 31, 2024, is 2,375, a slight decrease from 2,389 in 2023[186]. - The overall employee turnover rate for 2024 is approximately 47%, up from 34% in 2023[186]. - Employee training hours significantly increased to 3,030 hours in 2024 from 245 hours in 2023, with the percentage of trained employees rising to 15% from 3%[195]. - The company provided competitive compensation and benefits to attract and retain talent, including free meals and accommodation[196]. - The company has implemented strict health and safety measures, including regular disinfection and monitoring of production areas[191]. Technology and Innovation - The company emphasizes the importance of technological innovation and operational efficiency to strengthen its market position[12]. - The company plans to leverage technology and digital solutions to optimize production and reduce breeding costs, while also focusing on sustainable development[28]. - The company has invested in new technologies and product development to improve operational efficiency and product quality[65]. - The company aims to enhance digital breeding management to improve profitability and adapt to market demand changes[21]. Risk Management and Compliance - The board is responsible for maintaining an effective risk management and internal control system, assessing risks related to operations, environment, society, and governance (ESG)[129]. - The company has established strict internal control procedures and risk management systems, including annual risk assessments and audit plans[130]. - The independent auditor has confirmed their responsibility in the independent auditor's report for the consolidated financial statements[128]. - The company has established procedures to ensure the reliability of financial information and compliance with relevant laws and regulations[129]. - The company has implemented a whistleblowing policy for employees, customers, and suppliers to report misconduct confidentially, reviewed by the audit committee[133].

Financial Performance - The company recorded revenue of approximately RMB 263 million for the year, representing a year-on-year growth of about 47.2%[8] - The net loss for the year decreased by approximately RMB 447 million or about 77.2% compared to the previous year, significantly narrowing the loss margin[8] - Revenue for the year ended December 31, 2024, was RMB 26,312 thousand, a decrease of 26.5% compared to RMB 36,753 thousand in 2022[12] - The net loss for the year was RMB (13,201) thousand, an improvement from a net loss of RMB (57,925) thousand in 2023[12] - The annual loss was approximately RMB 13.2 million, a reduction of about RMB 44.7 million or 77.2% compared to the previous year[55] Business Strategy and Development - The company plans to strengthen its core business positions in fund management and investment advisory services while expanding its business portfolio into legal consulting and non-performing loan asset acquisition[10] - The company aims to enhance operational efficiency and optimize cost structures while maintaining a prudent management approach[10] - The company is focusing on strategic planning and development, led by the Chief Executive Officer, who has been in the role since January 2010[13] - The company aims to enhance its market position through strategic development and governance advice from its board of directors[17] - The company is exploring opportunities for market expansion and potential acquisitions to strengthen its portfolio[12] Asset Management and Investments - The total assets under management by the group reached approximately RMB 2,053.4 million as of December 31, 2024[37] - The group managed five funds that conducted cash and non-cash distributions to fund unit holders during the reporting period[37] - The company’s direct investment management scale reached RMB 454.2 million as of December 31, 2024, compared to RMB 388.0 million in 2023[41] - The company’s commercial real estate projects accounted for 62.7% of total managed assets, with a value of RMB 1,286.4 million as of December 31, 2024[40] - The group maintains a diversified investment portfolio and closely monitors investment performance and market trends to adjust investment strategies accordingly[73] Market Conditions - The real estate asset management industry in China is expected to enter a new phase, driven by policy optimization and market demand release[10] - Real estate development investment in China decreased by 10.6% compared to the previous year, with new residential sales down 17.1% and sales area down 12.9%[32] - The private equity investment market showed signs of recovery despite an overall downward trend, with new types of assets attracting global investment attention[33] - The government introduced policies to stabilize the real estate market, including optimizing financing environments for real estate companies[33] Corporate Governance - The board of directors includes Mr. Zhu Ping as Chairman and CEO, and Mr. Duan Kejian, among others, with changes in appointments noted[105] - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee various aspects of the company's operations[159] - The supervisory board confirmed that the company's financial reports accurately reflect its financial status and operational results for the year, supported by an unqualified audit opinion from the accounting firm[149] - The company emphasizes a strong corporate culture that aligns with its vision and strategic goals, focusing on core values that guide employee behavior[153] - The board currently has a female director representation of 12.5% and aims to maintain this level[165] Risk Management - The company faces various risks, including adverse investment decisions and market fluctuations affecting its performance[97] - The supervisory board will actively participate in important meetings and decision-making processes to better protect the interests of the company and all shareholders[151] - The company will strictly adhere to laws, regulations, and internal rules in its supervisory activities, including regular financial report reviews to monitor financial operations and mitigate operational risks[151] Awards and Recognition - The company received awards for "Best Special Opportunity Investment Management Institution" and "Carbon Neutrality and Sustainable Development Gold Award" in 2024[7] Shareholder Information - The company did not declare a final dividend for the year to retain resources for business development[64] - Major shareholders include Shanghai Shengxuan Investment Consulting Co., Ltd. holding 115,000,000 shares, representing 100.0% of the class shares and 75.0% of the total share capital[117] - The company has maintained sufficient public float as per the listing rules during the reporting period[101] Management Team - The management team has extensive experience in investment and asset management, with key members holding qualifications in fund investment and management[15] - Mr. Shang Jian has over 25 years of experience in fund management and securities, previously serving as General Manager at multiple fund management companies[19] - Ms. Yang Huifang has held various financial management roles, including General Manager of Finance at Greentown Service Group, which is listed on the Hong Kong Stock Exchange[20] - Mr. Zhu Hongchao has extensive legal experience and has served as an independent non-executive director for several listed companies, including E-House (China) Holdings Limited[21] Financial Position - Total assets decreased to RMB 289,841 thousand in 2024 from RMB 334,150 thousand in 2023, representing a decline of 13.2%[12] - Total liabilities were reduced to RMB 28,888 thousand in 2024, down from RMB 61,115 thousand in 2023, a decrease of 52.7%[12] - Equity attributable to owners of the parent company was RMB 260,953 thousand in 2024, compared to RMB 273,035 thousand in 2023, a decline of 4.5%[12] - Basic and diluted loss per share for the year was RMB (8.55), an improvement from RMB (37.00) in 2023[12] Compliance and Regulations - The company has adopted a securities trading code for directors and supervisors, ensuring compliance with relevant regulations[174] - The company has not entered into any significant contracts with its holding company or its subsidiaries during the year[109] - The company has not recommended the distribution of a final dividend for the year[88]

Financial Performance - Lushang Life Services reported a revenue increase of 15% year-over-year, reaching RMB 1.2 billion in 2024[4]. - The company achieved a net profit margin of 12%, translating to a net profit of RMB 144 million for the fiscal year[4]. - The company achieved a net income of approximately HKD 138 million in the reporting period[16]. - The company's revenue for the year was RMB 608.9 million, a decrease of 1.9% compared to RMB 621.0 million in the same period of 2023[28]. - Net profit for the year was RMB 45.1 million, an increase of 12.1% from RMB 40.3 million in the same period of 2023[28]. - The total revenue for the year was approximately RMB 608.9 million, a decrease of about 36.3% compared to RMB 956.6 million in 2023, primarily due to data restatement after acquisitions[38]. - Gross profit for the year was approximately RMB 115.9 million, a decrease of 11% from RMB 130.3 million in 2023, mainly due to data restatement after acquisitions[41]. - The gross profit margin increased from approximately 13.6% in 2023 to about 19% in the current year, primarily due to data restatement after acquisitions[41]. - Operating profit increased significantly to approximately RMB 8.3 million from RMB 0.1 million in 2023, mainly due to government subsidies related to corporate listing[45]. Revenue Breakdown - Revenue from property management services accounted for approximately 54.8% of total revenue, amounting to RMB 333.7 million, an increase of 5.2% compared to the previous year[30]. - Revenue from non-owner value-added services was approximately RMB 129.8 million, a decrease of 22.7% from RMB 167.9 million in 2023, primarily due to a decline in project deliveries[33]. - Revenue from community value-added services was approximately RMB 145.4 million, an increase of 7.1% from RMB 135.8 million in 2023, driven by growth in community sales and catering services[36]. - Property management services revenue rose by 5.2% from RMB 317.3 million in 2023 to RMB 333.7 million, attributed to optimized project portfolios and strategic expansion[39]. Market Expansion and Strategy - The company has set a revenue guidance of RMB 1.5 billion for 2025, representing a projected growth of 25%[4]. - Lushang Life Services is expanding its market presence in Eastern China, targeting a 30% increase in market share by 2025[4]. - New product launches in 2024 are expected to contribute an additional RMB 200 million in revenue[4]. - Strategic partnerships with local businesses are being pursued to enhance service offerings and expand customer base[4]. - The company plans to deepen its business structure and focus on quality, regional development, and innovative services[26]. Acquisitions and Investments - The acquisition of Da'an Tong is anticipated to enhance operational capabilities and is expected to close by Q2 2024[12]. - The company expanded its customer base by acquiring Da'an Tong Electromechanical Company, which focuses on elevator installation and maintenance services[22]. - The company completed the acquisition of Da'an Tong on March 4, 2024, for a consideration of RMB 4,878,300, integrating its financial performance into the group's consolidated financial statements[58][59]. - The company plans to inject RMB 36,320,000 into Shandong Blue Coast Garden Engineering Co., Ltd., as part of a capital increase agreement, subject to disclosure and approval requirements[72]. Technology and Development - Investment in technology development has increased by 40%, with a budget of RMB 50 million allocated for R&D in 2024[4]. - The company plans to implement a new customer relationship management system to improve user engagement and retention rates[4]. - The company has developed an online service platform to enhance customer interaction, with an investment of HKD 3.04 million planned[178]. - The company is investing HKD 13.52 million in upgrading smart equipment and facilities in managed properties, with HKD 1.23 million already utilized[178]. Governance and Management - The company has a strong focus on property management, with Mr. Wang overseeing operations in Jining and Heze, ensuring project management efficiency[76]. - The company has expanded its leadership team with professionals holding advanced degrees in finance and management, enhancing strategic decision-making capabilities[80]. - The company has maintained a focus on financial oversight, with Mr. Shao's role as Chief Financial Officer being critical for financial health[79]. - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors, achieving gender diversity with four female and four male directors[110]. - The company has adopted the corporate governance code and has complied with its principles throughout the year, with a review of the effectiveness of the leadership structure conducted regularly[106]. Employee and Community Engagement - As of December 31, 2024, the total number of employees is 1,405, with a gender distribution of 54.4% male (765) and 45.6% female (640)[156]. - The company maintains a gender ratio of 54:46 among its employees, promoting gender diversity in the workplace[156]. - The company plans to provide training programs for employees to enhance their qualifications and skills, allocating approximately HKD 0.43 million for this initiative[175]. - The company is actively involved in community and ideological work, reflecting its commitment to corporate social responsibility[100]. Risk Management and Compliance - The company has implemented various risk management policies and measures to identify, assess, manage, and monitor operational risks[136]. - The company has identified six major risk categories: strategic, financial, market, operational, compliance, and legal risks, which guide the internal control system[138]. - The board believes that the risk management and internal control systems for the fiscal year 2024 are effective and sufficient, with an overall risk level within acceptable limits[140]. - The company has a strict anti-corruption policy to identify and address bribery and corruption issues, applicable to all employees and related parties[141]. Shareholder Relations - The company has established various communication channels with shareholders, including annual meetings and performance briefings, to enhance investor relations[152]. - The company’s board believes that the implemented shareholder communication policy for 2024 is effective[153]. - The company has a mechanism for shareholders to propose special meetings, requiring a written request from shareholders holding more than 10% of the shares[150]. - The company has not set a predetermined dividend payout ratio, and the payment and amount of dividends depend on operational performance, cash flow, and other factors[154].

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 612,517,000, a decrease of 19% compared to RMB 759,836,000 in 2023[12] - Operating profit increased by 23% to RMB 122,072,000 from RMB 99,064,000 year-on-year[12] - Profit attributable to equity shareholders rose by 11% to RMB 106,961,000, compared to RMB 96,778,000 in the previous year[12] - Basic and diluted earnings per share increased by 10% to RMB 0.232 from RMB 0.210[12] - Proposed final dividend per share increased by 20% to HKD 0.11 from HKD 0.092, and special dividend increased by 243% to HKD 0.24 from HKD 0.07[12] - Television media resource operations revenue decreased by 30% to RMB 342,802,000 from RMB 489,352,000[12] - Digital marketing and online media revenue increased by 12% to RMB 131,216,000 from RMB 117,608,000[12] - Rental income decreased by 13% to RMB 35,296,000 from RMB 40,360,000[12] - Content operation revenue was RMB 34,350 thousand, down about 47% from RMB 64,496 thousand the previous year, primarily due to budget cuts from some clients[42] - Other integrated communication services revenue increased by approximately 43% to RMB 68,853 thousand from RMB 48,020 thousand, driven by commission income from media procurement[42] Market Trends and Challenges - The advertising industry continues to face pressure and challenges due to weak domestic market expectations and insufficient consumer demand[29] - In 2024, advertising spending increased by 1.6% year-on-year, indicating a fluctuating market performance within a reasonable range[34] - The overall market performance in 2024 did not meet expectations, prompting advertisers to reassess their growth strategies and prioritize operational efficiency[34] Business Strategy and Innovation - The company aims to enhance its brand marketing capabilities centered on cross-screen creative communication services to provide diverse creative products and communication services[34] - The company has established an imaging technology development department to explore innovations in generative artificial intelligence (AIGC) to meet changing customer demands[31] - The company is focusing on optimizing its business structure and enhancing operational efficiency to adapt to market changes and improve competitiveness[31] - The company is committed to providing one-stop solutions for clients, including brand positioning, visual creativity, communication strategies, and media execution[29] - The company is actively tracking cutting-edge technologies such as artificial intelligence and big data to respond to rapid market changes and improve advertising effectiveness[30] Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[89] - The board of directors consists of 5 executive directors and 5 independent non-executive directors, ensuring a balance of power[94] - The company has fully complied with all corporate governance code provisions as of December 31, 2024, with minor deviations noted[89] - The independent non-executive directors have confirmed their independence and compliance with the relevant standards throughout the year[96] - The chairman and CEO roles are held by different individuals to ensure a clear division of responsibilities[95] - The company has implemented a comprehensive risk management framework to monitor management performance and compliance with statutory regulations[97] Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report aims to disclose the company's practices and performance in sustainability for the fiscal year ending December 31, 2024[132] - The company adopts the principles and standards of the ESG guidelines to establish a robust governance structure[133] - The report covers the core business operations, including television advertising, content management, and digital marketing services[134] - The board is fully responsible for ensuring the effectiveness of the company's ESG strategies and reporting[135] - The company has established an ESG governance structure to clarify management responsibilities and assist the board in monitoring progress[136] - The company aims to reduce greenhouse gas emissions and energy consumption by 5% by 2026, based on 2021 levels[141] - Total greenhouse gas emissions decreased from 278.7 tons CO2 equivalent in 2023 to 259.8 tons CO2 equivalent in 2024, a reduction of approximately 6.4%[143] Employee Development and Welfare - The company emphasizes employee training and development, offering comprehensive training programs and mentorship for new hires[154] - Total training hours increased from 210 in 2023 to 372 in 2024, representing a 77.1% growth[155] - Average training hours per employee rose from 2.7 hours in 2023 to 4.3 hours in 2024, an increase of 59.3%[155] - The company provides competitive compensation and benefits to attract and retain talent, regularly reviewing its compensation mechanisms based on performance[151] - The company has implemented various health and safety measures, with no reported violations or workplace accidents in the current and past two reporting years[153] Shareholder Information - The company’s profit attributable to equity shareholders for the year ended December 31, 2024, was approximately RMB 1,069.6 million, an increase from RMB 967.8 million in 2023[175] - The total dividend payable to shareholders for 2024 is approximately RMB 683.1 million, compared to RMB 190.4 million in 2023, with a proposed final dividend of HKD 0.11 per share and a special dividend of HKD 0.24 per share[176] - As of December 31, 2024, the company’s directors and senior executives hold a total of 264,922,169 shares, representing approximately 57.39% of the issued share capital[188] - Major shareholder Tricor Equity Trustee Limited holds 309,608,821 shares, representing 67.07% of the issued shares[197] Risk Management - The company has established a risk management framework to assess the level of risk it is willing to undertake in achieving its strategic objectives[111] - The audit committee reviews the effectiveness of the risk management and internal control systems annually[123] - The company has a strong focus on digital marketing and integrated marketing strategies, led by experienced executives[86]

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was RMB 1,717.29 million, a decrease of 5.4% compared to RMB 1,815.41 million in 2023[12]. - Restaurant business sales amounted to RMB 1,649.83 million, down 4.9% from RMB 1,734.20 million in the previous year[12]. - The company reported a gross profit of RMB 1,313.65 million, reflecting a decline of 4.3% from RMB 1,373.33 million in 2023[12]. - The net loss attributable to shareholders was RMB 20.22 million, compared to a profit of RMB 181.19 million in the prior year[12]. - The proposed final dividend per share is RMB 0.06, down 25.0% from RMB 0.08 in the previous year[12]. - The group's revenue decreased by 5.4% to RMB 1.72 billion in 2024 due to economic downturn and increased competition in the restaurant industry[15]. - The company recorded a loss attributable to shareholders of RMB 20.224 million for the year, with a proposed dividend of RMB 0.06 per share, consistent with 2022 levels[15]. - The group recorded a net other loss of approximately RMB 131,500,000 for the year ended December 31, 2024, compared to a net other income of approximately RMB 32,663,000 in 2023, primarily due to fair value losses on investment properties[39]. - The group reported a pre-tax loss of approximately RMB 50,132,000 for the year ended December 31, 2024, compared to a pre-tax profit of approximately RMB 247,875,000 in 2023[41]. Operational Metrics - The total number of restaurants increased by 6.0% to 596, up from 562 in 2023[12]. - The total number of stores increased from 562 at the end of 2023 to 596 by the end of 2024, after closing 55 underperforming locations and opening 89 new stores[16]. - Membership numbers reached 36.25 million, generating RMB 653 million in revenue, with a focus on personalized services based on consumer behavior analysis[18]. - Online delivery revenue increased by 9% to RMB 377 million in 2024, accounting for 25.6% of the revenue from restaurants with delivery services[16]. Cost Structure - The proportion of raw material costs decreased from 24.4% in 2023 to 23.5% in 2024, while labor costs slightly increased to 27.9% of revenue (2023: 26.2%) and fixed costs rose to 29% (2023: 25%) due to revenue decline[15]. - Employee costs rose to approximately RMB 479.5 million, an increase of 0.8% from RMB 475.8 million in 2023, with employee costs accounting for 27.9% of revenue[33]. - Other operating expenses increased by 9.7% to approximately RMB 497.8 million, driven by higher consulting and advertising costs[35]. Financial Position - The company's net cash position stood at RMB 1,655.8 million, an increase of 3.0% from RMB 1,607.6 million in the previous year[12]. - As of December 31, 2024, the group's bank balance was approximately RMB 1,655,833,000, an increase from RMB 1,607,635,000 as of December 31, 2023, with a current ratio of 3.7[47]. - The group maintained a low debt-to-asset ratio of 0.9% as of December 31, 2024, with total borrowings of approximately RMB 34,609,000[47]. - The group's net current assets were approximately RMB 1,367,091,000 as of December 31, 2024, with a current ratio of 3.7[53]. Corporate Governance - The board emphasizes the importance of good corporate governance practices for effective operation and shareholder protection, ensuring ethical business conduct and sustainable development[57]. - The company has adopted the Corporate Governance Code and complied with all applicable provisions, except for a deviation regarding the separation of the roles of Chairman and CEO[58]. - The board consists of eight members, including three independent non-executive directors, ensuring a strong independent structure[63]. - The company has implemented a fair disclosure policy to communicate information broadly and non-exclusively to the public[61]. - The board reviews its governance framework annually to ensure its effectiveness[67]. Risk Management - The management is responsible for designing, implementing, and maintaining the risk management and internal control systems to safeguard the company's assets[112]. - Key risk management activities include identifying major risks affecting the company's performance and implementing measures to manage and mitigate these risks[113]. - The internal audit function provides independent assurance on the adequacy and effectiveness of the company's risk management and internal control systems[114]. - The audit committee has reviewed the independence of the external auditor and confirmed their objectivity and effectiveness in the audit process[106]. Environmental, Social, and Governance (ESG) - The company emphasizes the importance of environmental, social, and governance (ESG) matters for its long-term sustainable development[141]. - The board has established an ESG working group to coordinate the implementation of ESG measures and report progress regularly[141]. - The company aims to further enhance its ESG management framework and set specific sustainable development goals and action plans[142]. - The company has identified 21 relevant environmental, social, and governance issues through a stakeholder communication mechanism and conducted a materiality assessment[146]. - The company has implemented green low-carbon production measures to actively reduce its operational environmental footprint[150]. Employee Metrics - The total number of employees in the group is 7,396, primarily engaged in restaurant operations and related product sales[170]. - A total of 9,880 employees received training, representing 126.62% of the total workforce, with an average of 50.65 hours of training per employee[173]. - The percentage of female employees increased to 64.53% in 2024 from 63.06% in 2023, showing a growth of 1.47 percentage points[193]. - The company maintained a total of 3,670 full-time employees in 2024, which is an increase from 3,065 in 2023, reflecting a growth of approximately 19.7%[193].