Financial Performance - For the three months ended March 31, 2025, the company reported interest income of RMB 44,103,000, a decrease of 15.5% from RMB 52,219,000 in the same period of 2024[3] - Net interest income for the same period was RMB 35,199,000, down 13.5% from RMB 40,610,000 year-on-year[3] - The company recorded a pre-tax profit of RMB 20,858,000, a significant decline of 61.3% compared to RMB 53,830,000 in the previous year[3] - The net profit attributable to the owners of the parent company was RMB 14,830,000, down 61.0% from RMB 38,062,000 in the same period last year[3] - The company reported a decrease in other net income to RMB (4,452,000) from RMB 17,876,000, reflecting a significant decline[3] - The company’s administrative expenses increased to RMB 10,293,000 from RMB 9,454,000, an increase of 8.8%[3] Assets and Liabilities - Total assets increased to RMB 2,641,886,000 as of March 31, 2025, compared to RMB 2,578,519,000 at the end of 2024, reflecting a growth of 2.5%[4] - The company's cash and cash equivalents decreased to RMB 5,032,000 from RMB 10,515,000, a decline of 52.2%[4] - The total liabilities increased to RMB 585,357,000 from RMB 537,408,000, marking an increase of 8.9%[4] - The company’s net assets rose to RMB 2,056,529,000, up from RMB 2,041,111,000, indicating a growth of 0.8%[4]

Financial Performance - JD Logistics reported total revenue of RMB 182.84 billion for 2024, representing a year-on-year growth of 9.7%[12] - Revenue from external customers reached RMB 127.8 billion, accounting for nearly 70% of total revenue, with a year-on-year increase of 9.6%[12] - The non-IFRS profit for 2024 was RMB 7.92 billion, a significant increase of 186.8% compared to the previous year, achieving the highest profit level since the company's IPO[13] - The non-IFRS profit margin reached 4.3%, marking the best performance in terms of profit and profit margin since the company went public[13] - JD Logistics' gross profit for 2024 was RMB 18.70 billion, compared to RMB 12.68 billion in 2023, reflecting a strong growth trajectory[9] - The company achieved a pre-tax profit of RMB 7.72 billion in 2024, a significant improvement from RMB 1.62 billion in 2023[9] - Revenue from other clients, including express and freight services, reached RMB 95.5 billion in 2024, reflecting a year-on-year growth of 12.1%[31] - The company’s annual profit attributable to owners increased significantly from RMB 616.2 million in 2023 to RMB 6.2 billion in 2024[53] - The company’s non-IFRS profit for the year was RMB 7.9 billion, compared to RMB 2.8 billion in the previous year, indicating strong operational performance[53] - Gross profit rose from RMB 12.7 billion in 2023 to RMB 18.7 billion in 2024, resulting in a gross margin increase from 7.6% to 10.2%[61] - Net profit increased significantly from RMB 1.2 billion in 2023 to RMB 7.1 billion in 2024, primarily driven by the increase in gross profit[65] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 117.87 billion, an increase from RMB 112.90 billion in 2023[10] - The company's equity attributable to owners increased to RMB 55.32 billion in 2024, up from RMB 48.16 billion in 2023[10] - Non-current assets decreased to RMB 50.13 billion in 2024 from RMB 56.24 billion in 2023, indicating a strategic shift in asset management[10] - Current assets increased to RMB 67.74 billion in 2024, up from RMB 56.66 billion in 2023, highlighting improved liquidity[10] - As of December 31, 2024, the company's capital debt ratio was approximately 13.1%[83] - The outstanding borrowings as of December 31, 2024, were RMB 7.2 billion[140] Customer and Market Growth - In 2024, the number of external integrated supply chain customers increased to 80,703, representing a year-on-year growth of 8.0%, with an average revenue per customer of RMB 400,000[21] - The company has integrated supply chain revenue from external customers amounting to RMB 32.3 billion, maintaining a steady growth trend[21] - In 2024, the company's integrated supply chain customer revenue reached RMB 87.4 billion, with external integrated supply chain customer revenue at RMB 32.3 billion, maintaining a steady growth trend[25] - Revenue from integrated supply chain customers rose by 7.2% from RMB 81.5 billion in 2023 to RMB 87.4 billion in 2024, attributed to increased demand and a rise in the number of external integrated supply chain customers from 74,714 to 80,703[56] Operational Efficiency and Infrastructure - The company has integrated advanced technologies in its logistics operations, achieving full automation in storage, picking, packing, and sorting processes, significantly enhancing operational efficiency[36] - The company has launched the "Smart Wolf" solution, which utilizes a three-dimensional design for high-density storage, improving picking and storage efficiency while reducing operational costs[38] - The company has established a comprehensive transportation network, including land, air, sea, and multimodal transport, optimizing logistics management and route efficiency[43] - The company has strengthened its logistics capabilities with 9 cargo aircraft in operation, enhancing service efficiency and market competitiveness[15] - The company operates more than 1,600 warehouses and nearly 19,000 delivery stations and points, employing over 370,000 self-operated delivery personnel as of December 31, 2024[24] Research and Development - Research and development expenses remained stable at RMB 3.6 billion for both 2023 and 2024[63] - The company has received more than 5,000 authorized patents and software, with over 3,000 related to automation and unmanned technologies as of December 31, 2024[38] Corporate Governance and Management - The board of directors includes Hu Wei as the CEO since June 26, 2023, and Liu Qiangdong as the chairman since January 19, 2012[95] - The company has appointed new independent non-executive directors, including Ye Lin and Wu Yan'an, effective from June 28, 2024, and February 14, 2025, respectively[97] - The board of directors presented the annual report and consolidated financial statements for the fiscal year ending December 31, 2024[115] - The company emphasizes good corporate governance to protect shareholder interests, with independent non-executive directors confirming no conflicts of interest with controlling shareholders[157] Future Plans and Challenges - The company plans to acquire approximately 36.43% equity in a subsidiary for a total consideration of up to RMB 6.484 billion, with the transaction expected to be completed by April 30, 2026[84] - The company is prioritizing continuous business growth and profitability, although profitability may fluctuate significantly in the short to medium term[129] - The company faces intense competition, which may negatively impact its operating performance and market share[129] - The company relies heavily on its technological infrastructure and platform, and any failure to improve or effectively utilize these may adversely affect its operations and prospects[130] Employee and Compensation - The company had a total of 498,709 employees as of December 31, 2024, with 95.5% in operations[90] - The total employee compensation expenses, including share-based payments, amounted to RMB 68.8 billion in 2024, a year-on-year increase of 10.7% from RMB 62.2 billion in 2023[91] - The company’s total human resources expenditure reached RMB 89.2 billion for the year ending December 31, 2024, reflecting its commitment to creating more job opportunities[52] Shareholder Information - As of December 31, 2024, the company has issued 6,627,381,772 shares, with Liu Qiangdong holding 4,291,457,805 shares, representing 64.75% ownership[160] - Liu Qiangdong's voting rights account for approximately 71.7% of the total voting power due to his holdings in JD.com[163] - The company has not established any arrangements allowing directors to benefit from acquiring shares or bonds of the company or any other entity[158]

Financial Performance - For the year ended 31 December 2024, the profit for the year was a loss of HK$163,587,000, compared to a profit of HK$39,482,000 in 2020[15]. - The Group's revenue decreased from HK$129,159,000 to HK$66,713,000, primarily due to deteriorated market conditions[37]. - The Group incurred a net loss of HK$27,332,000, mainly due to an impairment loss on property, plant, and equipment of HK$19,250,000[38]. - The group's revenue from lithium-ion battery business decreased from HK$129,159,000 to HK$66,713,000, a decline of approximately 48.3% due to market deterioration[41]. - Basic and diluted loss per share for the year ended December 31, 2024, was HK$69.54 cents, compared to HK$60.48 cents in 2023[46][52]. - Other losses and net income for the year amounted to a loss of HK$27,332,000, primarily due to impairment losses on property, plant, and equipment of HK$19,250,000[42]. Asset and Liabilities - Non-current assets decreased from HK$805,870,000 in 2020 to HK$152,597,000 in 2024, reflecting a significant decline[15]. - Current assets also saw a decrease from HK$2,187,925,000 in 2020 to HK$267,563,000 in 2024[15]. - The company reported a net asset value of HK$112,918,000 as of 31 December 2024, down from HK$1,240,390,000 in 2020[15]. - The gearing ratio as of December 31, 2024, was 27.42%, up from 21.15% in the previous year[47][53]. - The group had 123 employees as of December 31, 2024, a decrease from 294 in 2023, with total employee costs of approximately HK$24,864,000[48][54]. Market Trends and Opportunities - Demand for electric two-wheeled vehicles is rising, presenting significant opportunities for the company[20]. - The market for lithium-ion motive batteries is evolving rapidly, particularly for electric two-wheeled vehicles and portable electric tools[18]. - The lithium ion battery market experienced a significant price reduction of 20% in 2024 due to intensified industrial competition and overcapacity[28]. - Production and sales quantity in the new energy vehicles market increased by approximately 35% in 2024, but the average sales price dropped by 10%, narrowing profit margins for manufacturers[29]. Strategic Initiatives - The company is increasing investment in research and development to enhance battery efficiency, reduce costs, and improve safety features[19]. - The Group is strategically adjusting its product offerings to capture emerging trends in electric two-wheelers and portable electric tools[24]. - The company is pursuing partnerships with key industry players to enhance supply chain efficiency and expand market reach[21]. - The strategic focus on innovation and sustainability is expected to position the company well for future growth[22]. - The Group plans to explore new investment opportunities in battery production, energy storage technologies, and battery recycling[34]. Governance and Management - The company has undergone significant leadership changes, with Mr. Wei Mingren appointed as executive Director and Chairman of the Board[73]. - The Company has a robust governance structure with independent non-executive directors overseeing key committees[87][88]. - The Company has experienced significant changes in senior management, including the resignation of the CEO and the appointment of a new deputy CEO[88][91]. - The Company received annual confirmations of independence from all independent non-executive directors, affirming their independence[172]. Share Capital and Financing - As of December 31, 2024, the Company's issued share capital is HK$21,968,522, with a total of 219,685,228 ordinary shares issued at HK$0.1 each[98]. - On September 18, 2023, the Company approved a rights issue of up to 1,112,615,025 rights shares at a subscription price of HK$0.1 per share[99]. - The rights issue was completed on February 1, 2024, raising approximately HK$59.3 million in gross proceeds and approximately HK$57.9 million in net proceeds after expenses[99]. - The net proceeds from the rights issue will be used as intended, with amounts adjusted proportionally to reflect actual subscription results[99]. - The company entered into a Share Subscription agreement on September 20, 2024, issuing 120,000,000 shares at HK$0.10 each, with net proceeds of approximately HK$11,740,000 fully utilized for operations[110]. Risks and Compliance - The Group's financial conditions are subject to various risks, including market risk, foreign currency risk, credit risk, liquidity risk, and interest rate risk[187][192]. - There were no material breaches of applicable laws and regulations that significantly impacted the Group's business during the year[190][195]. - Related party transactions did not constitute connected transactions or were exempt from disclosure and independent shareholders' approval requirements[186][191]. Employee Relations - The Group emphasizes employee relationships and implements training programs and performance-linked bonuses to promote career advancement[188][193]. - The Group's remuneration policy for employees is based on merit, qualifications, and competence, with directors' emoluments linked to operating results and individual performance[179][184].

Financial Performance - In 2024, the company achieved a revenue of RMB 474.25 million, representing a year-on-year growth of 51.8%[9] - The company's revenue increased from RMB 312.4 million in 2023 to RMB 474.3 million in 2024, representing a year-on-year growth of 51.8%[18] - Revenue increased by 51.8% from RMB 312.4 million in 2023 to RMB 474.3 million in 2024, driven by sales of autonomous driving products and solutions[30] - Revenue from autonomous driving products and solutions rose by 58.5% from RMB 276.3 million in 2023 to RMB 438.0 million in 2024, attributed to increased sales to major domestic automotive OEMs and enhanced market penetration[31] - Overall gross profit surged by 152.4% from RMB 77.1 million in 2023 to RMB 194.7 million in 2024, with an overall gross margin improvement from 24.7% to 41.1%[36] - Gross margin improved from 24.7% in 2023 to 41.1% in 2024[18] - The company reported a significant operating loss of RMB 1.75 billion for 2024, reflecting ongoing investment in technology and product development[8] - The adjusted net loss for the year ended December 31, 2024, was RMB (1,304,251) thousand, compared to an adjusted net loss of RMB (1,254,247) thousand for 2023[46] - The company recorded a profit of RMB 313.3 million for the year ended December 31, 2024, compared to a loss of RMB 4,855.1 million in 2023[45] Product Development and Innovation - The A1000 series chips have been scaled for delivery in multiple models from leading domestic automotive manufacturers[9] - The newly launched A2000 series chips are designed for next-generation AI models, outperforming current flagship chips and supporting various applications beyond automotive[12] - The company introduced a new NPU architecture, Jiushao, which enhances computational efficiency and supports large models, alongside a new AI toolchain, BaRT[13] - The C1200 series chips are expected to enter mass production in 2025, with two OEM partnerships already established[11] - The A2000 series is expected to begin large-scale production in 2025, focusing on applications in robotics and emerging AI scenarios[16] - The C1200 series cross-domain integration chips completed functional verification for urban NoA (Navigation on Autopilot) in 2024, with deep collaborations established with several OEMs[19] - The company has achieved mass production delivery of the high-speed NoA solution based on the A1000 chip and will develop urban NoA solutions using the C1200 and A2000 chips in 2025[23] - The company anticipates bulk shipments in the robotics sector by 2025, leveraging AI edge inference technology and collaborating with multiple robotics companies[24] Market Position and Strategy - The core self-developed IP and NPU architecture are identified as key competitive advantages in the smart driving chip market[13] - The market share for the company's chips in the high-speed NoA segment ranks third among traditional independent brands[10] - The competitive landscape in the smart driving chip sector is expected to consolidate, with only a few leading companies likely to dominate the high-end assisted driving market[14] - The company aims to achieve operational profitability in the medium term by optimizing cost structures and enhancing product competitiveness[17] - The company is expanding its application scenarios to include commercial vehicles and integrated vehicle-road-cloud solutions, accelerating the commercialization process[21] - The company has established pilot projects for integrated vehicle-road-cloud solutions in multiple cities, enhancing its market position[21] Financial Health and Assets - Total assets increased to RMB 2.32 billion in 2024, while total liabilities decreased to RMB 1.22 billion[8] - As of December 31, 2024, the company's cash and cash equivalents amounted to RMB 1,622.9 million, an increase from RMB 1,306.6 million as of December 31, 2023[47] - The total liabilities as of December 31, 2024, were RMB 722,612 thousand, a significant decrease from RMB 12,644,941 thousand as of December 31, 2023[49] - The company's debt-to-equity ratio as of December 31, 2024, was 61.7%, compared to 0% as of December 31, 2023[53] Governance and Corporate Structure - The company has not separated the roles of Chairman and CEO, believing this structure ensures leadership consistency and effective strategic planning[61] - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, maintaining strong independence[61] - The company is committed to supporting employee development through training and professional development programs, ensuring equal learning opportunities[62] - The company has a strict equal employment opportunity policy to foster an inclusive work environment, prohibiting discrimination based on race, color, religion, gender, or sexual orientation[63] - The board has adopted a diversity policy and conducts annual assessments of the independence of non-executive directors[68] - The board meets at least four times a year, ensuring timely communication and preparation for meetings[70] - The company emphasizes high standards of business ethics and integrity in all operations, with clear standards outlined in training materials[64] - The board is responsible for guiding and supervising the company's affairs, ensuring good risk management and internal control systems[69] Risk Management and Compliance - The company has established a comprehensive risk management system to address operational, compliance, information security, and investment risks[95][98][101] - The company has implemented a centralized intellectual property management system to protect its intellectual property rights[100] - The company has a whistleblowing mechanism to encourage internal reporting of suspicious activities, promoting a culture of compliance and ethical behavior[103] - The company has a zero-tolerance policy towards corruption, prohibiting any corrupt activities by employees[102] - The internal audit department is responsible for reviewing the effectiveness of internal controls and reporting significant issues to the audit committee[105] - The audit committee reviews the company's risk management and internal control systems, finding them effective and adequate[105] Shareholder Communication and Relations - The company emphasizes effective communication with shareholders to enhance investor relations and transparency, utilizing financial reports and shareholder meetings[109] - The company has implemented a shareholder communication policy to ensure timely and equal access to information for shareholders[115] - The company encourages shareholders to provide their email addresses for timely communication and updates[112] - The company’s website serves as a platform for communication with shareholders and investors, regularly updating information including financial statements and announcements[113] - The board has reviewed the effectiveness of the shareholder communication policy and found it to be effectively executed[115] Employee and Director Information - The company employed 973 employees as of December 31, 2024, with a focus on attracting and retaining qualified personnel[51] - The management team includes experienced professionals with backgrounds in finance, technology, and law, enhancing the company's strategic capabilities[177][178][179] - The company has purchased and maintained appropriate insurance for its directors[192] - Details regarding the remuneration of directors and the five highest-paid individuals are included in the annual report's financial statements[193] Share Options and Equity Plans - The company has adopted a post-IPO share plan effective from January 2023, which will be reviewed and approved by the remuneration committee[92] - The maximum number of shares that may be issued under the pre-IPO share scheme is 156,847,868, representing approximately 27.56% of the issued share capital as of December 31, 2024[150] - The pre-IPO share scheme is set to automatically terminate 10 years from the date of adoption by the board, with approximately 6.7 years remaining[151] - The total number of options granted under the pre-IPO share option plan amounts to 134,158,761 shares, with a range of exercise prices from $0.035 to $0.70[155] - The company has a structured vesting schedule for options, ensuring alignment with long-term performance goals[155]

Financial Performance - The total operating income for the year reached RMB 135.595 billion, with a net profit of RMB 41.911 billion, reflecting a solid financial performance [6]. - Operating income for the period was RMB 135.60 billion, a decrease of 6.96% compared to the previous year [39]. - Net profit attributable to shareholders was RMB 41.70 billion, a year-on-year increase of 2.22% [39]. - Net profit increased by 2.03% year-on-year to RMB 41.91 billion, with a pre-tax profit of RMB 51.47 billion, up by 3.45% [86][90]. - The company reported a significant reduction in the migration rate for attention loans, dropping by 11.11 percentage points to 15.30% [165]. Asset and Liability Management - The total assets of the bank amounted to RMB 6,959.021 billion, while total liabilities were RMB 6,368.790 billion, indicating a strong balance sheet [6]. - Total assets reached RMB 6.96 trillion, an increase of 2.75% compared to the end of the previous year [37]. - The total liabilities amounted to RMB 6,218,011 million in 2023, an increase from RMB 6,368,790 million in 2022, reflecting a strategic management of liabilities [44]. - The total liabilities of the group increased to RMB 6,368.79 billion, up by RMB 1,507.79 billion or 2.42%, mainly due to an increase in bonds payable [142]. Loan and Credit Quality - The non-performing loan ratio stood at 1.25%, with a loan provision coverage ratio of 180.59%, demonstrating effective risk management [6]. - Non-performing loans stood at RMB 49.25 billion, with a non-performing loan ratio of 1.25%, unchanged from the previous year [87]. - The company’s provisions for loan impairment increased to RMB 88.58 billion as of December 31, 2024, from RMB 85.37 billion in the previous year [180]. - The total amount of loans overdue for more than three years increased to RMB 5.28 billion, up from RMB 3.56 billion in the previous year [170]. Shareholder Returns - The board proposed a final dividend of RMB 0.85 per share, bringing the total dividend for the year to RMB 1.89 per share, reflecting a commitment to shareholder returns [3]. - The equity attributable to shareholders increased by RMB 353,090 million to RMB 587,700 million, primarily due to profit growth during the period [148]. Digital Transformation and Innovation - The bank is focused on digital transformation and enhancing service quality, aiming to improve operational efficiency and customer satisfaction [9]. - The bank emphasizes innovation in products, channels, and service models, transitioning from managing its own balance sheet to helping clients improve their financial statements [20]. - The bank aims to deepen digital transformation and optimize technology innovation mechanisms to enhance financial technology contributions [31]. Risk Management - The bank has outlined key risks and corresponding mitigation strategies in its management discussion, ensuring transparency and proactive governance [4]. - The bank will strengthen comprehensive risk management to prevent systemic risks and improve risk management capabilities [31]. - The bank is committed to risk management and compliance, with a focus on preventing new non-performing loans and managing financial risks in key sectors [76]. Market Expansion and Customer Engagement - The bank's total loan amount was RMB 3,933.902 billion, and the deposit balance reached RMB 4,035.687 billion, highlighting robust customer engagement [6]. - The bank's international expansion includes the opening of branches in Hong Kong, Seoul, Luxembourg, Sydney, and Melbourne, among others, in line with the "Belt and Road" initiative [21]. - The bank has established 1,321 branches domestically, achieving full coverage of provincial administrative regions and serving 150 major economic cities [21]. Social Responsibility and ESG - The bank has been recognized for its social responsibility efforts, receiving multiple awards, including the "2024 Financial High-Quality Development Case" from the People's Daily [24]. - The bank's ESG rating has steadily improved for two consecutive years, reflecting its commitment to social responsibility [28]. - The bank's commitment to social responsibility includes ongoing support for the "Mother Water Cellar" charity initiative [21]. Financial Technology and Services - The bank focuses on modern comprehensive financial services, including financial leasing, wealth management, consumer finance, and digital finance [21]. - The bank's wealth management and financial technology sectors have developed strong competitive advantages in the market [20]. - The digital financial services are being accelerated with a focus on online, mobile, and intelligent processes to enhance customer engagement and value [76].

Customer Base and Services - The bank serves over 1.3 million corporate clients and 766 million individual customers, providing a wide range of financial products and services[5]. - The number of personal customers increased to over 760 million, while corporate customers reached over 13 million[41]. - The bank's mobile banking monthly active users exceeded 260 million, with over 200 application scenarios for a self-controlled AI model[41]. - The company provided global treasury management services to 12,000 multinational enterprises, enhancing their global operational capabilities[158]. - The company has established 4,087 integrated social security and banking service points, promoting financial services for rural revitalization and fund supervision[155]. Financial Performance - The bank's financial report indicates a strong performance, with a focus on serving the real economy and maintaining financial stability[8]. - The total customer loans and advances reached RMB 36,694.6 billion in 2024, an increase from RMB 34,836.973 billion in 2023[24]. - The total customer deposits amounted to RMB 48,821.746 billion in 2024, reflecting growth from RMB 39,610.146 billion in 2023[24]. - The net profit for 2024 was reported at RMB 36,694.6 billion, showing a slight increase from RMB 36,511.6 billion in 2023[24]. - The non-performing loan ratio decreased to 1.34% in 2024 from 1.36% in 2023[24]. Risk Management and Compliance - The bank emphasizes risk management and has improved its risk control capabilities continuously[6]. - The provision coverage ratio was reported at 214.91% in 2024, compared to 209.47% in 2023[24]. - The bank's non-performing loan ratio continued to decline, with the provision coverage ratio and capital adequacy ratio showing stable increases[39]. - The company has implemented a new anti-money laundering due diligence system, protecting 19.172 million suspected victims and recovering losses exceeding RMB 6.86 billion[167]. Digital Transformation and Technology - The bank is committed to digital transformation and actively develops financial technology to enhance its services[6]. - The bank's digital financial services platform served 66,800 customers with a transaction amount exceeding 375 trillion RMB, while mobile banking reached over 260 million monthly active users[188]. - The bank's AI-driven tools and new technology applications supported over 40,000 person-years of work throughout the year, enhancing operational efficiency[189]. - The company has successfully implemented various digital RMB application scenarios, including digital tax services and supply chain financing, and is expanding its digital RMB pilot projects in Hong Kong[197]. Strategic Goals and Initiatives - The bank's strategic goal is to build a world-class modern financial institution with Chinese characteristics, focusing on stability and innovation[7]. - The bank aims to achieve a new balance in financial income and expenditure while promoting high-quality service and regional coordinated development[13]. - The bank is advancing its "five transformations" strategy, which includes intelligent risk control and modernized layout[9]. - The company aims to enhance the quality of its loan portfolio while optimizing the allocation of credit resources[101]. Awards and Recognition - The bank has received numerous awards and recognitions, reinforcing its brand value and market position[15]. - The company was recognized as "China's Best Corporate Bank" by Global Finance and "Best Project Financing Bank in China" for four consecutive years[144]. - The company has been recognized with multiple awards, including "Best Consumer Credit Bank in China" and "Best Digital Wealth Management Experience" by various financial publications[167]. Economic Contributions - The bank aims to contribute to the successful completion of the "14th Five-Year Plan" by enhancing quality and efficiency in its operations[45]. - Domestic RMB loans and bond investments increased by 2.3 trillion yuan, significantly supporting economic recovery[50]. - The growth rates for loans to manufacturing, strategic emerging industries, and green development were 13.7%, 16.7%, and 19.1% respectively[50]. - The balance of green loans surpassed RMB 6 trillion by the end of 2024[146]. Operational Metrics - The cost-to-income ratio increased to 29.43% in 2024 from 28.28% in 2023[24]. - The average return on total assets was 0.78%, while the weighted average return on equity was 9.88%[64]. - The total amount of social financing reached 408.34 trillion RMB, growing by 8.0% year-on-year[59]. - The total number of operating branches will reach 15,365, with 19,746 self-service banks and 76,185 smart devices by the end of 2024[199].

Stock Market Performance - The stock market in Hong Kong rebounded nearly 18% after a four-year losing streak in 2024[11]. - The Hang Seng Index rose by 3.9% and the Hang Seng China Enterprises Index increased by 9.8% in the first half of 2024[12]. - The Shanghai Composite Index fell by 0.3% and the Shenzhen Component Index declined by 12.0% in the first half of 2024[13]. - The Dow Jones Industrial Average increased by 3.8%, the Nasdaq Composite Index rose by 18.1%, and the S&P 500 Index advanced by 14.5% in the first half of 2024[14]. - The Hang Seng TECH Index declined by 5.6% in the first half of 2024[12]. Financial Performance - The Group recorded a revenue of approximately HK$254,000 for the year ended 31 December 2024, a decrease of approximately 81.8% compared to HK$1,399,000 in the prior year, primarily due to a reduction in interest income[27]. - Gross proceeds from disposals of trading securities were approximately HK$49,114,000 for the Reporting Period, down from approximately HK$62,032,000 for the year ended 31 December 2023[27]. - The Group experienced a realised gain of approximately HK$6,673,000 on equity securities during the Reporting Period, compared to a gain of approximately HK$251,000 in 2023[27]. - A fair value loss of approximately HK$78,891,000 was recorded on equity securities, contrasting with a gain of approximately HK$54,869,000 in the previous year, attributed to poor performance of U.S. equity securities[27]. - The loss attributable to owners of the Company was approximately HK$76,810,000, compared to a profit of approximately HK$53,505,000 in the prior year[27]. - As of 31 December 2024, the Group's net assets were approximately HK$130,064,000, representing a decrease of 30.17% from HK$186,246,000 in 2023[29]. - Financial assets at fair value through profit or loss decreased from approximately HK$172,306,000 in 2023 to approximately HK$115,713,000 in 2024[29]. - The Group had borrowings of approximately HK$13,939,000 as of 31 December 2024, with a gearing ratio of 10.72%, up from 7.70% in 2023[35]. - The Group had available funds of approximately HK$2,662,000 as of 31 December 2024, primarily held in banks and licensed securities firms[34]. Investment Strategy - The Company plans to invest in trading securities, private equity funds, and private enterprises with potential prospects in 2025[22]. - The Board will closely monitor macro trends and seek investment opportunities in China, Hong Kong, and overseas[22]. - The Company aims to implement risk management policies to achieve stable returns on investments for shareholders[22]. - The Group's investment strategy focuses on strengthening existing businesses and financing future investment opportunities domestically and internationally to achieve financial growth and maximize shareholder value[59]. Capital Management - The gross proceeds from the Placing A were approximately HK$10.4 million, with net proceeds of approximately HK$10.2 million intended for investments and repayment of short-term loans[44]. - The Company raised approximately HK$10.2 million from the placing of new shares, with net proceeds of approximately HK$10.2 million intended for investment in listed and/or unlisted securities, repayment of short-term loans, and general working capital[47]. - Approximately HK$6.7 million of the net proceeds was used for investment in listed and/or unlisted securities, approximately HK$2.0 million for repayment of short-term loans and interest, and approximately HK$1.5 million for general working capital[47]. - The Company entered into a placing agreement on 23 August 2024 to issue up to 14,158,848 new shares at a price of HK$0.300 per share, raising gross proceeds of approximately HK$4.3 million and net proceeds of approximately HK$4.2 million[50]. - The intended use of the net proceeds from the Placing B includes approximately HK$3.7 million for investment in listed and/or unlisted securities and approximately HK$0.5 million for general working capital[54]. Corporate Governance and ESG - The ESG Report outlines the Group's commitment to sustainable development and summarizes its ESG initiatives and performances for the financial year ended December 31, 2024[102]. - The Group's core business activities in Hong Kong are highlighted in the ESG Report, incorporating relevant ESG data collected under its direct operational control[103]. - The Board holds ultimate responsibility for monitoring the Group's ESG issues, ensuring effective control of ESG risks and internal control mechanisms[121]. - The ESG Taskforce is responsible for gathering and analyzing ESG-related information, reporting directly to the Board, and ensuring compliance with ESG laws and regulations[122]. - Stakeholder engagement is prioritized, with multi-channel interactions established to gather feedback from key stakeholder groups including shareholders, employees, and regulatory authorities[125]. - The Group conducts materiality assessments to identify and prioritize significant ESG-related issues relevant to its operations and stakeholders[128]. - The Group is committed to high standards in business ethics and aims to improve community and environmental quality, providing long-term returns to stakeholders[115]. - The Group's ESG strategies are guided by stakeholder opinions, ensuring alignment with their expectations and compliance with local laws[126]. - The Group emphasizes transparency in corporate governance to attract investment and enhance shareholder value[120]. Employee Management - The Group employed a total of 5 employees as of December 31, 2024, an increase from 2 employees in 2023[86]. - The remuneration policy for employees is designed to be competitive and aligned with market practices, ensuring effective attraction and retention[87]. - The Group has established a Remuneration Committee to ensure competitive compensation and benefits packages for employees[175]. - No material non-compliance with employment-related laws was reported during the year, ensuring compliance with various ordinances in Hong Kong[176]. - The employee turnover rate remained at 0% for both 2023 and 2024, indicating no employee departures during the reporting period[182]. - The Group emphasizes a fair recruitment process, focusing on candidates' experience and expertise, with periodic reviews to ensure effectiveness[184]. - Employee promotions and career development are based on contributions, with annual performance appraisals determining adjustments and opportunities[185]. - The Group provides attractive benefits, including office insurance and discretionary bonuses, to retain talent and enhance employee loyalty[194]. - Training programs are tailored to specific needs to facilitate employee career advancement, reflecting the Group's commitment to employee development[200]. Environmental Initiatives - The Group achieved a 5% reduction in electricity consumption intensity, non-hazardous waste intensity, and greenhouse gas emissions intensity, all marked as achieved[137]. - Total greenhouse gas emissions decreased from 3.01 tCO2e in 2023 to 2.51 tCO2e in 2024, indicating a positive trend in emissions management[143]. - Scope 2 indirect greenhouse gas emissions increased slightly from 1.80 tCO2e in 2023 to 1.86 tCO2e in 2024[143]. - The Group has implemented paper-saving initiatives to create a paperless working environment, aiming to reduce paper consumption and enhance recycling efforts[148]. - The Group's environmental targets include reducing pollutant emissions and resource consumption as part of its commitment to sustainability[132]. - The Group's non-hazardous waste is primarily paper waste generated from office operations, with minimal anticipated impact[147]. - The Group does not generate hazardous waste due to its office-based operations[151]. - The Group's sewage discharge into land is insignificant, with no significant amount of sewage water discharged during the reporting period[146]. - The Group is committed to integrating sustainability into its business strategy to minimize carbon footprint and strengthen resilience to climate-related risks[131]. - Total non-hazardous waste decreased from 253.49 kg in 2023 to 135.87 kg in 2024, representing a reduction of approximately 46.4%[153]. - Energy consumption increased from 2,640 kWh in 2023 to 2,813 kWh in 2024, marking a rise of about 6.5%[159]. - Energy consumption intensity rose significantly from 41.62 kWh/million rev in 2023 to 56.98 kWh/million rev in 2024, an increase of approximately 37%[159]. - The Group aims to reduce energy consumption intensity by 5% over the next four years, using FY2021 as the baseline[156]. - The Group's water usage records were not accessible during the year due to management by a property management company, but no significant issues in sourcing water were reported[160]. - The Group has implemented measures to monitor and improve indoor air quality, including air purification equipment and regular cleaning of air-conditioning systems[164]. - The Group recognizes the increasing physical risks from climate change, including extreme weather events that may disrupt business operations[166]. - Transition risks related to climate change may lead to increased compliance costs and legal risks, impacting the Group's reputation[173].

Financial Performance - The group reported stable revenue growth for the fiscal year ending December 31, 2024, demonstrating strong operational performance and effective cost control[12]. - The company recorded a revenue of approximately RMB 122.3 million for the year, an increase of about 28.9% compared to RMB 94.9 million in 2023[22]. - Revenue increased by approximately 28.9% from RMB 94.9 million in 2023 to approximately RMB 122.3 million, driven by a 58.4% increase in the automatic meter reading and other business segments[26]. - The automatic meter reading and related business segment generated revenue of approximately RMB 67.1 million, up 58.4% from RMB 42.3 million in 2023, accounting for 54.8% of total revenue[22]. - The gross profit rose from RMB 15.6 million in 2023 to approximately RMB 37.1 million, representing an increase of about 138.3%[28]. - The gross margin improved from approximately 16.4% in 2023 to about 30.3% in the review year, mainly due to an increase in the gross margin of the automatic meter reading segment[28]. - The group recorded a loss attributable to equity shareholders reduced from RMB 138.5 million in 2023 to approximately RMB 73.5 million in the review year, primarily due to the absence of one-time impairments in financial and contract assets[23]. - The company recorded a loss attributable to equity shareholders of approximately RMB 73.5 million for the review year, compared to a loss of RMB 138.5 million in 2023[40]. Market Demand and Growth - The demand for communication modules is expected to rise due to the anticipated steady growth in the national grid's smart meter procurement[12]. - The national grid's push for new technology standards and the promotion of next-generation smart meters are expected to drive market growth[12]. - The demand for broadband dual-mode communication modules from the State Grid is estimated to be around 89 million units in 2024, while the Southern Grid's demand exceeds 10 million units, remaining stable compared to the same period in 2023[17]. - The State Grid plans to procure over 80 million broadband dual-mode communication modules in 2025, with three public bidding rounds scheduled[18]. - The company anticipates steady growth in demand for smart meters and communication modules due to the ongoing development of a new energy-based power system[54]. - The investment in the distribution network during the "14th Five-Year Plan" is expected to exceed RMB 1.2 trillion, accounting for over 60% of the total investment in power grid construction[55]. - The industrial automation market in China is expected to continue healthy growth due to low penetration rates and rising labor costs, particularly in the petrochemical sector[56]. - The wind power operation and maintenance market in China is projected to see significant demand as many wind turbines exit their warranty periods, with total spending on wind power operation and maintenance services reaching USD 16 billion from 2015 to 2022[58]. Strategic Initiatives and Acquisitions - The group actively expanded its market presence in smart city lighting, smart air conditioning, and integrated energy management systems[13]. - The acquisition of Zhongyi (BVI) International Limited has enabled the group to enter the wind farm operation and maintenance business, enhancing its competitive edge[13]. - The company has completed the acquisition of Zhongyi (BVI) International Limited, expanding its operations into wind farm maintenance services[19]. - The company plans to contribute approximately RMB 25.4 million from the wind farm operation and maintenance business starting March 2024, which will account for about 20.8% of total revenue[23]. - The company is focusing on broadband dual-mode communication technology for electricity information collection systems and low-voltage distribution networks, aiming to enhance competitiveness in domestic markets[55]. - The company is expanding its wind power operation and maintenance services, including maintenance and replacement projects, as existing contracts' warranty periods will expire between 2026 and 2029[59]. Research and Development - Research and development expenses increased by approximately 10.8% to RMB 22.6 million, primarily due to costs associated with the new broadband dual-mode products[34]. - The company aims to enhance its capabilities in power line carrier communication technology and R&D to improve the functionality and features of its automatic meter reading products[96]. - The company aims to leverage its R&D resources and collaborate with external firms to develop proprietary smart factory applications and integrate big data platforms, enhancing core competitiveness[58]. Corporate Governance and Leadership - The group aims to maintain a lean cost strategy to mitigate future risks and pressures while enhancing corporate governance[14]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic appointments in the board[67]. - The board includes members with diverse backgrounds in law, finance, and management, contributing to a well-rounded governance structure[70]. - The company has established a strong leadership team with a mix of experience in various sectors, positioning itself for future growth[71]. - The board has established the company's purpose, values, and strategies, promoting a complementary culture within the group[162]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their compliance with independence guidelines[178]. - The company has adopted a board diversity policy, aiming to enhance the diversity of the board as a key factor in maintaining competitive advantage[192]. Employee and Training Initiatives - The company has maintained a stable core management team and is committed to employee training and development[92]. - The company provides regular and onboarding training to employees, emphasizing continuous skill development through R&D capabilities[154]. - Employee costs, including director remuneration, amounted to RMB 41.9 million for the year, compared to RMB 36.2 million in 2023, reflecting an increase of approximately 20.8%[154]. Financial Position and Liabilities - As of December 31, 2024, the company's current assets were approximately RMB 108.1 million, down from RMB 152.5 million on December 31, 2023[41]. - The total interest-bearing liabilities amounted to RMB 247.1 million as of December 31, 2024, an increase from RMB 194.0 million on December 31, 2023[42]. - The net debt-to-equity ratio was approximately -208% as of December 31, 2024, compared to -458% on December 31, 2023[42]. - The company has no capital commitments as of December 31, 2024, compared to RMB 1.83 million on December 31, 2023[45]. - The company has no contingent liabilities as of December 31, 2024, consistent with the previous year[46]. Share Capital and Dividends - The company has issued a total share capital of approximately HKD 255,729, with 255,728,860 ordinary shares at a par value of HKD 0.001 each as of December 31, 2024[88]. - The company has not issued any debentures during the review period[89]. - The company has adopted a dividend policy intending to distribute at least 30% of the profit attributable to equity shareholders as dividends, subject to financial conditions[99]. - No final dividend has been recommended for the review year[103]. - As of December 31, 2024, the company's distributable reserves, including share premium and accumulated losses, are zero[104]. Compliance and Regulatory Matters - The audit committee has reviewed the financial performance for the year, ensuring compliance with accounting principles and standards[158]. - The financial statements for the year ended December 31, 2024, were audited by Shinewing (HK) CPA Limited, which was appointed to fill a vacancy after the resignation of another firm[159]. - The company has complied with listing rules regarding the appointment of at least three independent non-executive directors, representing one-third of the board[174]. - The company has not disclosed any changes in director information that require disclosure under the listing rules[106]. - No related party transactions were reported that would constitute continuous connected transactions during the review year[138].

Financial Performance - The company recorded total sales revenue of approximately RMB 257.8 million for the year ended December 31, 2024, representing an increase of about 9.6% compared to RMB 235.2 million for the year ended December 31, 2023[10]. - Gross profit increased from approximately RMB 44.7 million for the year ended December 31, 2023, to approximately RMB 63.0 million for the year ended December 31, 2024[11]. - Net profit attributable to the owners of the company rose by approximately 101.7% to about RMB 11.9 million for the year ended December 31, 2024, compared to RMB 5.9 million for the previous year[11]. - The company recorded a consolidated revenue of approximately RMB 257.8 million for the year ending December 31, 2024, an increase of approximately RMB 22.5 million or 9.6% compared to RMB 235.2 million for the year ending December 31, 2023, primarily driven by increased sales of calcium sulfate raised floor products[23]. - For the year ended December 31, 2024, total revenue reached approximately RMB 257.8 million, a 9.6% increase from RMB 235.2 million in 2023[24]. - Sales of the all-steel raised floor products contributed 68.8% to total revenue, with sales increasing by 1.7% from approximately RMB 174.4 million in 2023 to RMB 177.3 million in 2024[24]. - Revenue from calcium sulfate raised floor products surged by 32.2%, rising from approximately RMB 60.9 million in 2023 to approximately RMB 80.5 million in 2024[25]. - The sales volume of calcium sulfate raised floor products increased by approximately 36.8% due to improved production efficiency after relocating the production line[26]. - Total gross profit rose to RMB 63.0 million, with an overall gross margin of 24.4%, compared to 19.0% in the previous year[29]. - Operating profit before tax increased significantly by 122.5%, from approximately RMB 6.4 million in 2023 to approximately RMB 14.3 million in 2024[31]. Market Trends - The Chinese flooring materials market is estimated to reach USD 90 billion in 2024, driven by urbanization and infrastructure growth[12]. - The global flooring materials market is projected to reach USD 416.6 billion in 2024, with a compound annual growth rate of 7.2% expected by 2030[12]. - The construction industry is experiencing mixed trends, with residential construction facing significant challenges, while commercial construction shows signs of slight recovery[12]. - The demand for raised floor products in China is expected to grow steadily due to factors such as increased investment in new office buildings and stricter government policies[17]. - The penetration rate of calcium sulfate raised floor products continues to rise due to their high performance, contributing to the overall market growth[17]. Company Strategy and Operations - The company plans to adapt quickly to market changes and focus on long-term growth by advancing technology and upgrading production lines[13]. - The company aims to enhance production capacity and efficiency through various initiatives, including the acquisition of land and construction of new facilities, with a total planned expenditure of approximately HKD 85.8 million[22]. - The company plans to install five additional production lines and upgrade existing production lines with automated machinery, with a budget allocation of approximately HKD 5.1 million for this purpose[22]. - The company is committed to improving product design, functionality, and quality satisfaction through a dedicated R&D team[19]. - The company will increase participation in trade fairs and exhibitions as part of its marketing strategy to enhance brand recognition and expand its customer base[18]. Research and Development - The company's R&D expenditure for the year ending December 31, 2024, is approximately RMB 11.4 million, compared to RMB 10.6 million for the year ending December 31, 2023[19]. - The company has established a strong position in the Chinese raised floor manufacturing industry, holding certifications such as ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007[19]. Financial Health and Liabilities - The company faced an increase in impairment provisions for contract assets and trade receivables, amounting to RMB 11.2 million for the year ended December 31, 2024, compared to RMB 7.6 million for the previous year[11]. - Total assets as of December 31, 2024, are approximately RMB 492.3 million, an increase from RMB 483.1 million in 2023[41]. - Cash and cash equivalents as of December 31, 2024, amount to approximately RMB 46.9 million, compared to RMB 41.9 million in 2023[41]. - Total liabilities as of December 31, 2024, are approximately RMB 167.3 million, a decrease from RMB 170.1 million in 2023[41]. - The debt-to-equity ratio as of December 31, 2024, is approximately 11.7%, down from 14.3% in 2023[41]. - The total expected credit loss provision for contract assets amounts to RMB 3,361,000, with a net book value of RMB 51,221,000[36]. - The total expected credit loss rate for trade receivables and notes is 20.04%, with a total expected credit loss provision of RMB 50,599,000[36]. Environmental, Social, and Governance (ESG) - The group aims to transition to a low-carbon economy by reducing resource usage, including energy, water, and paper[77]. - The group has identified 21 significant environmental, social, and governance (ESG) issues based on stakeholder expectations and feedback[72]. - The group has implemented specific energy and waste management policies to achieve its emission reduction targets[78]. - In 2024, the total greenhouse gas emissions decreased to 2,529 tons from 4,912 tons in 2023, representing a reduction of approximately 48.6%[81]. - The company generated 757 tons of non-hazardous waste in 2024, an increase from 703 tons in 2023, reflecting a rise of approximately 7.7%[82]. - The company has begun formulating greenhouse gas emission management goals in response to China's "3060" target for carbon neutrality[93]. - The company is committed to expanding its efforts in charitable work through sustainable development strategies, fulfilling corporate social responsibility[116]. Corporate Governance - The company is committed to strong corporate governance practices, adhering to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the fiscal year ending December 31, 2024[122]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience[126]. - The company has established an independent board evaluation mechanism to enhance board efficiency and ensure independent judgment in safeguarding shareholder interests[130]. - The roles of the chairman and CEO are clearly separated to ensure a balance of power and authority[142]. - The Audit Committee is responsible for overseeing the integrity of the company's financial statements and reviewing significant financial reporting judgments[143]. Employee and Community Engagement - The company has a total of 212 employees with an employee turnover rate of approximately 9.9%[96]. - The company focuses on community investment in areas such as education, health, and environmental issues, actively engaging in community needs[121]. - The company donated a total of RMB 73,500 to support the construction of Henglin Primary School in Changzhou Economic Development Zone and to establish a local public welfare organization in Jiangsu Province[114].

Financial Performance - Total revenue for 2024 was RMB 391.981 million, a 6.9% increase from RMB 367.053 million in 2023[14] - Profit before tax decreased to RMB 24.411 million in 2024, down 57.3% from RMB 57.144 million in 2023[14] - Net profit for 2024 was RMB 19.180 million, a decline of 53.7% compared to RMB 41.314 million in 2023[14] - Gross profit decreased by approximately 32.0% from approximately RMB 73.1 million for the year ended December 31, 2023, to approximately RMB 49.7 million for the year ended December 31, 2024, due to a decline in gross margin[31] - The company's net profit for the year decreased by approximately 53.5% from RMB 41.3 million for the year ended December 31, 2023, to approximately RMB 19.2 million for the year ended December 31, 2024, with a net profit margin dropping from about 11.3% to approximately 4.9%[39] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 493.623 million, slightly down from RMB 499.116 million in 2023[15] - Total equity increased to RMB 400.455 million in 2024, up from RMB 380.887 million in 2023, reflecting a growth of 5.4%[15] - Current liabilities decreased significantly to RMB 83.683 million in 2024, down 24.0% from RMB 110.073 million in 2023[15] - Total liabilities decreased by approximately 21.2% from about RMB 118.2 million as of December 31, 2023, to approximately RMB 93.2 million as of December 31, 2024, mainly due to the payment of dividends in 2024[40] - Cash and cash equivalents decreased by approximately 22.7% from about RMB 223.7 million as of December 31, 2023, to approximately RMB 172.9 million as of December 31, 2024, primarily due to cash being placed in time deposits for higher interest[44] Revenue Breakdown - Revenue increased from approximately RMB 367.1 million for the year ended December 31, 2023, to approximately RMB 392.0 million for the year ended December 31, 2024, primarily due to increased sales in Asia and the Americas[26] - Overseas market sales revenue rose by approximately 8.3% from approximately RMB 245.5 million for the year ended December 31, 2023, to approximately RMB 265.8 million for the year ended December 31, 2024[29] - Revenue from the Asian market increased by approximately 3.9% from approximately RMB 191.1 million for the year ended December 31, 2023, to approximately RMB 198.5 million for the year ended December 31, 2024[29] - Revenue from the Americas increased by approximately 11.0% from approximately RMB 108.6 million for the year ended December 31, 2023, to approximately RMB 120.5 million for the year ended December 31, 2024[29] - Revenue from the European market increased by approximately 14.8% from approximately RMB 54.0 million for the year ended December 31, 2023, to approximately RMB 62.0 million for the year ended December 31, 2024[29] Research and Development - Research and development costs increased to approximately RMB 14.5 million for the year ended December 31, 2024, compared to approximately RMB 9.1 million for the year ended December 31, 2023, due to an increase in R&D projects[36] - The group aims to increase R&D investment and adopt advanced technologies to enhance product quality and maintain competitive advantages[67] Market Strategy - The company is focused on expanding its aftermarket sales in the automotive sector, targeting various vehicle types including SUVs and pickup trucks[8] - Future outlook includes ongoing development of new products and technologies to meet market demands[8] - The group plans to expand into new markets and diversify its product offerings to reduce reliance on a single market or product line[66] - Market expansion efforts are underway, with plans to enter F new markets by the end of the fiscal year, potentially increasing market share by G%[99] Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[72] - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[76] - The board consists of 8 members, including 3 executive directors, 2 non-executive directors, and 3 independent non-executive directors[171] - The company has adopted a board diversity policy to enhance efficiency and maintain high standards of corporate governance, focusing on various diversity criteria including gender and professional experience[174] Leadership and Management - The company has a strong leadership team with diverse backgrounds in management, sales, and manufacturing, enhancing its strategic capabilities[80] - The management team is committed to driving growth and innovation within the company, leveraging their extensive industry experience[82] - The leadership structure supports effective decision-making and strategic planning, crucial for the company's future growth[85] Risks and Challenges - The company faces risks related to fluctuations in aluminum ingot prices, which could adversely affect its financial performance[108] - The company has identified potential negative impacts from international trade regulations and geopolitical tensions, particularly between Lithuania and China[103] Shareholder Information - The company did not recommend a final dividend for 2024, maintaining the same stance as in 2023[106] - The company has not established a fixed dividend policy, with distributions determined at the discretion of the board based on various factors[107] Audit and Compliance - KPMG has been appointed as the auditor for the reporting period, with a resolution for their reappointment to be presented at the annual general meeting[163] - The audit committee reviewed the financial statements for the year ending December 31, 2023, and the significant findings from the auditor's report[198]