Financial Performance - The company sold 59 machines, generating total revenue of approximately RMB 369.7 million, an increase of about 5% compared to the previous year[11]. - The company recorded a net loss of approximately RMB 41.0 million for the year[11]. - The company's revenue increased by approximately RMB 19.0 million (or 5%) to about RMB 369.7 million, driven mainly by sales of baby diaper machines (approximately RMB 28.9 million) and wet wipe machines (approximately RMB 4.2 million) [23]. - The gross profit rose from approximately RMB 46.4 million to about RMB 52.0 million, with the gross profit margin increasing by 0.9 percentage points to approximately 14.1% [25]. - Other income decreased by approximately RMB 1.7 million or 13.9% to about RMB 10.5 million due to a reduction in foreign exchange gains[26]. - Selling and distribution costs increased by approximately RMB 4.1 million or 24.3% to about RMB 21.0 million, primarily due to higher marketing personnel salaries and advertising expenses[27]. - Administrative and other operating expenses rose by approximately RMB 16.1 million or 32.9% to about RMB 65.1 million, mainly due to increased amortization of intangible assets and R&D expenses[28]. - Financial costs increased by approximately 6.7% to about RMB 1.6 million, attributed to higher bank loan interest[29]. - The company recorded a loss attributable to owners of approximately RMB 38.1 million, an increase from RMB 35.8 million in the previous year, mainly due to an increase in expected credit loss provisions[31]. - The current ratio decreased to approximately 0.7 times as of December 31, 2024, down from 1.3 times the previous year[33]. - The debt-to-equity ratio increased to approximately 109.0% as of December 31, 2024, compared to 30.9% the previous year[39]. - The total reserves available for distribution to the company's owners as of December 31, 2024, is approximately RMB 136.6 million, a decrease from RMB 144.3 million in 2023[143]. Research and Development - The company has 165 patents in China as of 2024, reflecting its focus on innovation and technology advancement[12]. - A new generation high-speed smart diaper production line was developed, increasing production efficiency by nearly 30% from 700 to 900 pieces per minute[12]. - The company plans to establish a new R&D center, expected to be completed in the first half of 2025, to enhance product development efficiency and support the transition to smart manufacturing [14]. - The R&D center is expected to be completed in the first half of 2025, enhancing the company's product development capabilities[50]. - The company has allocated approximately RMB 29.6 million for R&D expenses, fully funded by internal resources, to strengthen its innovation capabilities[15]. Market Expansion and Strategy - The company has expanded its sales to 13 overseas countries, enhancing its market penetration[11]. - The company is increasing its investment in emerging markets such as Asia, Africa, and South America, which are expected to be key growth engines [19]. - The company is advancing its global "platformization" strategy and enhancing brand exposure through advertising on major media platforms and participation in international exhibitions [18]. - The company aims to enhance its production capabilities and flexibility to provide comprehensive solutions for customers, while also focusing on sustainable development strategies [16]. - The company is focusing on the flexible materials smart equipment manufacturing sector to accelerate the smart transformation of the manufacturing industry[11]. Corporate Governance - The board of directors has held four meetings during the year, with all executive, non-executive, and independent non-executive directors in attendance[61]. - The group has adopted a corporate governance code that aligns with the interests of the company and its shareholders, ensuring high standards of corporate governance[55]. - The board believes that having the same person serve as both chairman and CEO ensures consistent internal leadership and effective strategic planning[55]. - The board of directors has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to enhance corporate governance[73]. - The Audit Committee held three meetings this year, reviewing the annual financial statements and interim financial reports[75][77]. - The Remuneration Committee met once during the year to discuss the compensation packages for directors and senior management[81]. - The Nomination Committee conducted two meetings this year, evaluating the independence of non-executive directors and reviewing board composition[79][80]. - The company emphasizes the importance of corporate governance as a shared responsibility among directors[72]. - The board retains decision-making authority on significant matters, including policies, strategies, and financial data[68]. - The company has implemented internal controls and checks to define the authority and responsibilities of the board and management[69]. Risk Management - The company has implemented a three-tier risk management approach to identify, assess, and manage various types of risks[94]. - An external consultant has been appointed to enhance the internal audit function, ensuring effective risk management and internal control systems[94]. - The board confirmed the effectiveness and adequacy of the risk management and internal control systems for the year[95]. Sustainability Initiatives - The company is investing in green manufacturing and aims to reduce energy consumption and waste emissions by 2025[12]. - The group aims to enhance its sustainability strategy by promoting green factory construction and reducing energy consumption and waste emissions during production processes by 2025[51]. Shareholder Information - The company does not have a fixed dividend policy but expects the dividend payout ratio to be no less than 25% of the annual distributable profits[108]. - The board will continue to review the dividend policy but does not guarantee any specific amount of dividends during any designated period[109]. - The company encourages shareholders to attend general meetings and ensures that all resolutions are voted on according to listing rules[102]. - The company has established a shareholder communication policy to ensure timely access to information for shareholders and potential investors[106]. Related Party Transactions - The framework procurement agreement with Shengrong Machinery has a transaction cap of RMB 5.0 million for the fiscal years ending December 31, 2023, and December 31, 2024[186]. - The transaction amount under the Shengrong procurement agreement for the reporting period was approximately RMB 1.7 million[187]. - The framework procurement agreement with Hengqin Machinery has a transaction cap of RMB 10.0 million for the fiscal years ending December 31, 2024, and December 31, 2026[190]. - The transaction amount under the Hengqin procurement agreement for the reporting period was approximately RMB 5.3 million[191]. - The framework procurement agreement with Guangdong Aimeigao has a transaction cap of RMB 1.0 million, RMB 10.0 million, and RMB 10.0 million for the fiscal years ending December 31, 2023, December 31, 2024, and December 31, 2025, respectively[193]. - The transaction amount under the Aimeigao procurement agreement for the reporting period was approximately RMB 3.8 million[194]. - All mentioned agreements constitute continuing connected transactions and are subject to the relevant listing rules[198]. - The external auditor confirmed no issues regarding disclosed continuing connected transactions, ensuring compliance with pricing policies and regulatory agreements[200]. - No disclosed continuing connected transactions exceeded the company's established maximum annual limit[200].

Financial Performance - For the fiscal year ending December 31, 2024, the company's total revenue increased by 49.4% to RMB 852.3 million, compared to RMB 570.6 million in 2023[9]. - The gross profit for the same period rose by 39.8% to RMB 333.4 million, up from RMB 238.6 million in the previous year[9]. - Net profit attributable to the company's owners surged by 69.4% to RMB 145.6 million, compared to RMB 86.0 million in 2023[9]. - Basic earnings per share rose by 71.2% to RMB 26.68, compared to RMB 15.58 in the previous year[10]. - The adjusted net profit for the year was RMB 175.7 million, a 62.7% increase from RMB 108.0 million in 2023[9]. - The operating profit for the year was reported at RMB 191.5 million, reflecting ongoing operational efficiency improvements[12]. - Profit before tax increased by 55.0% from RMB 116.7 million to RMB 181.0 million[28]. - Income tax expense rose by 10.0% from RMB 32.2 million to RMB 35.5 million due to an increase in taxable profits and withholding tax[29]. - Profit attributable to owners increased by 69.4% from RMB 86.0 million to RMB 145.6 million[30]. - Adjusted profit attributable to owners increased by 62.7% from RMB 107.999 million to RMB 175.716 million[31]. Revenue Sources and Growth - Revenue from competency courses grew from RMB 518.9 million to RMB 766.8 million, indicating a robust market for these offerings[12]. - The number of tutoring class hours increased significantly from 5,973,028 hours to 8,692,591 hours, reflecting strong demand for non-academic courses[12]. - The number of enrolled students for non-academic quality courses increased by 45.8% to 348,523, while tutoring course hours rose by 61.8% to 935,748 hours[19]. - For the fiscal year ending December 31, 2024, the company reported revenue and profit attributable to owners of approximately RMB 852.3 million and RMB 145.6 million, respectively, with about 90.0% of revenue coming from non-academic quality courses and others, and approximately 10.0% from tutoring courses[76]. Business Strategy and Expansion - The company plans to diversify its offerings and enhance service quality by leveraging artificial intelligence technology[8]. - The company aims to expand its revenue base through new initiatives, including educational tourism and international courses[8]. - The company plans to expand its business in Guangzhou, having received positive feedback from parents and students, and aims to diversify its offerings in quality education[14]. - The company has initiated new business opportunities, including educational tourism and international courses, to broaden its revenue base for long-term growth[14]. Regulatory Environment - The Ministry of Education issued the "Interim Measures for Administrative Penalties for Off-campus Training" on August 23, 2023, which will take effect on October 15, 2023, outlining penalties for illegal training activities[48]. - The new regulations specify that illegal off-campus training may result in penalties such as rectification orders, refunds, and fines for organizations operating without necessary permits[48]. - The Ministry of Education's notification on December 18, 2023, emphasizes the need to strengthen supervision and enforcement to prevent hidden variations in subject training and reduce the burden of off-campus training on students[48]. - The "Interim Measures" include provisions for administrative penalties related to pricing, fee collection, and pre-collection fund supervision for off-campus training institutions[48]. - The Ministry of Education has been actively working to regulate non-academic training institutions, ensuring compliance with standards and enhancing daily supervision[47]. Financial Position - Total assets as of December 31, 2024, amounted to RMB 1,327.4 million, with total liabilities of RMB 692.6 million, resulting in total equity of RMB 634.8 million[18]. - Total equity increased to RMB 634.8 million from RMB 453.4 million[37]. - Cash and cash equivalents increased by 7.9% from RMB 362.0 million to RMB 390.7 million[37]. - The company has bank borrowings of RMB 40.0 million as of December 31, 2024, compared to none in 2023[87]. Shareholder and Governance Matters - The board has proposed a final dividend of HKD 0.07 per share for the year ending December 31, 2024, compared to no dividend for the previous year[51]. - The company has established a compensation committee to review its compensation policies based on operational performance and market practices[93]. - The board consists of four executive directors and three independent non-executive directors, complying with listing rules regarding board composition[195]. - The company aims to maintain the current female member ratio on the board, with a long-term goal of achieving gender parity in board nominations and elections[198]. - Independent non-executive directors have confirmed their independence according to Listing Rule 3.13, and the company considers them all to be independent individuals[199]. Compliance and Risk Management - The company is committed to compliance with relevant laws and regulations, with no significant violations reported for the fiscal year ending December 31, 2024[82]. - The company will regularly disclose updates regarding compliance with foreign investment laws and any significant impacts on its operations and financial condition[173]. - The company has engaged an auditor to confirm compliance with the disclosure requirements of the listing rules regarding related party transactions[148]. Employee and Operational Metrics - As of December 31, 2024, the company employed 2,973 employees, an increase of 28.2% from 2,319 employees in 2023[44]. - Research and development expenses increased by 76.2% to RMB 26.5 million, primarily due to higher personnel costs related to developing teaching materials and market research for various quality courses[24]. Share Incentive Plans - The company has three active share incentive plans, including a share option plan that was approved on June 3, 2019[103]. - A total of 27,785,000 stock options were granted under the stock option plan, with an exercise price of HKD 1.62 per share[107]. - The share reward plan aims to retain and attract qualified participants by providing direct economic benefits and recognizing their contributions to the group's growth[125]. Related Party Transactions and Structured Contracts - The company has established multiple structured contracts with related parties, including exclusive operational and consulting agreements, to ensure economic benefits flow to the company[146]. - The structured contracts allow the company to retain most profits generated by the Chinese operating entities, with no dividends or distributions made to the owners of these entities[148]. - The company does not hold any equity in the Chinese operating entities but controls them through structured contracts to minimize potential conflicts with Chinese laws[153].

Financial Performance - Goldwind Technology reported a revenue of RMB 20 billion for the fiscal year 2024, representing a year-on-year increase of 15%[8]. - The company achieved a net profit of RMB 3 billion, which is a 10% increase compared to the previous year[8]. - The company achieved a revenue of RMB 56,516.21 million in 2024, representing a 12.48% increase from RMB 50,243.73 million in 2023[13]. - Net profit attributable to shareholders reached RMB 1,860.45 million, a 39.78% increase compared to RMB 1,330.99 million in 2023[14]. - The company’s total assets increased by 8.17% to RMB 155,224.29 million in 2024, up from RMB 143,494.60 million in 2023[16]. - The total liabilities rose by 11.17% to RMB 114,797.20 million in 2024, compared to RMB 103,265.69 million in 2023[16]. - The company’s cash flow from operating activities was RMB 2,315.85 million, an increase from RMB 1,854.04 million in 2023[19]. - The company’s gross profit for the year ended December 31, 2024, was RMB 7,716.76 million, reflecting an increase of RMB 1,371.67 million or 21.62% from RMB 6,345.09 million in 2023[96]. - The gross margin for the group improved to 13.65% in 2024 from 12.63% in 2023, with the wind turbine manufacturing segment showing a significant increase in gross margin from -0.28% to 4.91%[97]. Market Expansion and Strategy - Goldwind plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[8]. - The company is actively expanding into international markets and new business areas, focusing on high-quality development and technological innovation[28]. - The company is actively exploring new business areas such as mixed towers, energy storage, and carbon management, aiming to enhance its comprehensive competitive strength[63]. - The company is expected to contribute 10% of new installed capacity through the renovation and upgrading of onshore wind power during the 14th Five-Year Plan period[135]. - The company aims to achieve breakthroughs in business structure, product innovation, and market expansion in 2025, focusing on high-quality growth driven by innovation and efficiency[137]. Product Development and Innovation - The company is investing RMB 1 billion in R&D for new wind turbine technologies, aiming to improve efficiency by 15%[8]. - New product launches include a next-generation wind turbine model, projected to increase output by 20%[8]. - The company launched the new generation wind resource assessment software "Wind Craftsman 3.0," receiving the first DNV certification in the country[23]. - The newly launched GWH204 Ultra flagship model has been recognized as the "Best Innovative Product" at the 2024 Wind Power Leader Awards, showcasing the company's commitment to product innovation[70]. - The new flagship product GWH300-20(25)MW is expected to reduce the Levelized Cost of Energy (LCOE) by 10% in future deep-sea applications[71]. Operational Efficiency and Cost Management - The company reported a 5% reduction in operational costs due to improved supply chain management[9]. - The company achieved a 5.4 times increase in inspection efficiency through the implementation of an unmanned operation solution in wind farms[78]. - Selling and distribution expenses increased by 19.44% to RMB 1,321.53 million in 2024 from RMB 1,106.44 million in 2023, primarily due to rising employee costs[99]. - Administrative expenses rose by 20.94% to RMB 4,934.14 million in 2024 compared to RMB 4,079.67 million in 2023, driven by increased R&D and employee costs[100]. Corporate Governance and Leadership - The company has a diverse board with expertise in finance, law, and energy, enhancing its strategic decision-making capabilities[151]. - The company is committed to maintaining high standards of corporate governance through its experienced board members[152]. - The management team is committed to leveraging their expertise to drive the company's strategic initiatives and growth in the renewable energy sector[163]. Sustainability and Environmental Commitment - Future strategies include a focus on sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[10]. - The company is committed to sustainable development by continuously launching higher quality, lower cost, and better performance products and solutions[139]. - The company is actively promoting the development of offshore wind power projects and expanding renewable energy applications in key sectors such as industry, transportation, and construction[135]. Shareholder Returns and Dividends - The company plans to distribute a final dividend of RMB 1.4 per 10 shares for the fiscal year ending December 31, 2024, subject to shareholder approval[183]. - The company has established a cash dividend policy, aiming for a minimum cash dividend proportion of 80% during profit distribution in a mature stage without significant capital expenditure[182]. - The company emphasizes active cash dividend distribution when profits are positive and cash flow supports normal operations and long-term development[180]. Risks and Challenges - The company faces potential risks including policy changes affecting the wind power industry, intensified market competition, and economic fluctuations impacting international business expansion[139].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported a net loss attributable to shareholders of HKD 4,000,000, with a loss per share of HKD 0.5 cents, compared to a net loss of HKD 30,100,000 and a loss per share of HKD 3.8 cents for the year ending December 31, 2023[8]. - Total revenue for 2024 was HKD 4,241,300,000, a decrease of 41.7% from HKD 7,274,400,000 in 2023. Property sales revenue fell from HKD 7,246,200,000 in 2023 to HKD 4,224,500,000 in 2024, also a 41.7% decline[12]. - Rental income from investment properties decreased by 41.9% to HKD 15,700,000 in 2024, down from HKD 27,100,000 in 2023[16]. - The total contracted sales amount for the year was approximately HKD 2,280,700,000, down from HKD 4,075,800,000 in 2023[14]. - The company did not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[9]. Asset and Liability Management - The company's net asset value attributable to equity holders was HKD 1,011,200,000 as of December 31, 2024, compared to HKD 1,029,100,000 in 2023, resulting in a net asset value per share of HKD 1.26[10]. - As of December 31, 2024, the group's net borrowings amounted to HKD 3,990,000,000, an increase from HKD 1,012,300,000 in 2023[19]. - The total borrowings reached HKD 4,940,900,000, up from HKD 2,009,800,000 in 2023, with 100% of the borrowings denominated in RMB[20]. - The group's capital to debt ratio was 394.6% as of December 31, 2024, compared to 98.4% in 2023[19]. - The group's cash and bank balances totaled HKD 950,900,000, a slight decrease from HKD 997,500,000 in 2023, with approximately 98.7% in RMB[19]. Market Outlook - The company anticipates that the easing of purchase restrictions and optimized loan conditions in first-tier and certain second- and third-tier cities will support a recovery in the real estate market[11]. - The overall property market remains weak, particularly in Hong Kong, due to high interest rates and a lack of demand and confidence in key sectors such as retail and office spaces[12]. - The group anticipates a gradual recovery in the real estate market in mainland China, supported by ongoing government policies and measures[24]. Corporate Governance - The board consists of six directors, including three executive directors and three independent non-executive directors[40]. - The company has adopted a set of guidelines for regulating securities trading by directors, ensuring compliance with the standards set forth in the Listing Rules[37]. - The board is responsible for the overall strategy, management goals, and monitoring management performance, ensuring corporate governance functions are fulfilled[39]. - The company has established four committees: the remuneration committee, nomination committee, audit committee, and executive committee, each with written terms of reference[43]. - The company has appointed three independent non-executive directors, meeting the requirement that at least one-third of the board consists of independent directors[44]. Risk Management - The company has established a risk management framework to identify and manage risks, including environmental, social, and governance risks[67]. - Management confirmed that the risk management and internal control systems are adequate and effective, with no significant deficiencies identified during the year[63]. - The Audit Committee receives internal audit reports on identified major risk areas and ensures that any significant internal control deficiencies are reported to the Board[68]. - The board is responsible for overseeing the effectiveness of the company's environmental, social, and governance risk management and internal control systems[96]. Employee Management - As of December 31, 2024, the group employed 391 staff members, offering various employee benefits including medical insurance and retirement plans[26]. - The company has established a comprehensive compensation and benefits package for employees, ensuring alignment with performance and shareholder interests[150]. - The total employee turnover rate for 2024 is approximately 18.16%, a significant decrease from 27.43% in 2023[153]. - The company emphasizes a culture of equal opportunity and diversity, ensuring all employees have access to training and career development opportunities[156]. - The company has implemented a comprehensive training program to enhance employee skills and knowledge, including online learning resources for occupational health and safety[164]. Environmental, Social, and Governance (ESG) Initiatives - The company has integrated environmental, social, and governance (ESG) factors into its business strategy to ensure sustainable development[99]. - The company aims to achieve steady progress towards its ESG goals through regular reporting from senior management to the board[100]. - The company has established a community investment policy to encourage employee participation in community projects, focusing on sustainable development and charitable contributions[192]. - The company is actively investing time and resources to address the urgent challenges posed by climate change[198]. - The company has committed to monitoring and disclosing greenhouse gas emissions annually, focusing on direct (Scope 1), energy indirect (Scope 2), and other indirect (Scope 3) emissions[149]. Stakeholder Engagement - The company has established a policy for shareholder communication, which is reviewed annually to ensure effectiveness[80]. - The company provides various formal channels for shareholders to communicate and inquire about company matters[88]. - Senior management maintains good communication with stakeholders to facilitate timely exchanges of opinions, which is crucial for long-term success[200]. - The board has reviewed stakeholder feedback and prioritized ESG issues for better strategic planning and resource allocation[109].

Financial Performance - For the year ended December 31, 2024, the company's net interest income was RMB 112.3 million, and net profit was RMB 96.3 million, with a loan balance reaching RMB 727.7 million[8]. - The total amount of loans granted to customers was RMB 888.2 million, generating interest income of RMB 112.7 million during the reporting period[13]. - The company's capital net amount decreased from RMB 1,268.5 million in 2023 to RMB 1,221.2 million in 2024, while the loan to capital net amount ratio improved from 0.73 times to 0.60 times[13]. - The loan principal balance decreased from RMB 925.9 million as of December 31, 2023, to RMB 727.7 million as of December 31, 2024, due to adjustments in loan scale in response to changes in credit policies[15]. - The company reported a significant increase in overdue loans primarily due to temporary cash flow difficulties faced by borrowers[21]. - The overdue loan balance rose to RMB 190.1 million in 2024, representing 26.0% of the total loan balance, up from RMB 108.3 million or 11.7% in 2023[21]. - The non-performing loan ratio improved to 3.7% as of December 31, 2024, down from 7.9% as of December 31, 2023, primarily due to the recovery of RMB 455 million in substandard loans[27]. - The provision coverage ratio increased significantly to 216.9% as of December 31, 2024, compared to 92.8% in the previous year, indicating a stronger buffer against potential loan losses[26]. - Interest income from loans decreased to RMB 112.7 million in 2024 from RMB 140.2 million in 2023, reflecting a decline in the outstanding balance of non-performing loans[32]. - Net profit increased from RMB 76.2 million in 2023 to RMB 96.3 million in 2024, with profit attributable to equity holders rising from RMB 64.8 million to RMB 91.7 million[48]. Loan Portfolio and Risk Management - The proportion of revolving loans increased to 72.3% in 2024, compared to 67.9% in 2023, while term loans decreased to 27.7% from 32.1%[17]. - The company has a significant portion of its loans secured, with 52.0% backed by collateral in 2024, compared to 41.1% in 2023[18]. - Loans with a maturity of less than one year accounted for 94.4% of the total loan balance as of December 31, 2024[20]. - The loan portfolio includes a diverse range of borrowers, with 44.8% of loans being less than RMB 1 million in 2024[22]. - The company has implemented a comprehensive risk assessment system to ensure steady improvement in loan quality[9]. - The company faces various risks including credit risk, foreign exchange risk, interest rate risk, price risk, and liquidity risk[126]. - The company has established risk management and internal control systems to monitor operations and compliance, but cannot guarantee the detection of non-compliance events[126]. Economic Environment and Strategic Outlook - The external economic environment remains uncertain due to geopolitical conflicts and trade protectionism, impacting domestic economic stability[8]. - The global economy is expected to maintain stable growth into 2025, with developed economies like the US and Europe experiencing a slight slowdown, while emerging markets such as China and India continue to show strong growth[86]. - Domestic economic operation shows positive factors, but insufficient domestic demand remains the biggest constraint[86]. - The government will continue to strengthen macroeconomic regulation, deepen reform and opening up, and expand domestic demand to promote high-quality economic development[86]. - The company plans to innovate financial products to meet diverse customer needs and expand customer channels to enhance brand influence[86]. - The company aims to improve service efficiency and optimize customer experience while strengthening team building and enhancing professional capabilities[86]. Corporate Governance and Compliance - The company has complied with all major regulatory capital requirements and lending limits as of December 31, 2024, ensuring adherence to financial regulations[29]. - The company has established three board committees: the audit committee, the remuneration committee, and the nomination committee to oversee various matters[197]. - The company is committed to maintaining high levels of corporate governance and protecting shareholder rights, fully complying with the corporate governance code during the reporting period[196]. - The supervisory board has verified the financial statements for the year ending December 31, 2024, and believes they fairly reflect the group's financial position and operating performance[190]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence[147]. - The company has a strong focus on strategic advice from its board members, including Jiang Haiying and Cai Rongjun, who have over 30 years of combined experience in business management[95][96]. Shareholder and Capital Structure - The proposed final dividend for the year ending December 31, 2024, is RMB 0.05 per share, subject to shareholder approval at the annual general meeting on June 12, 2025[133]. - As of December 31, 2024, the company has a total of 680,000,000 shares issued, including 180,000,000 H shares and 500,000,000 domestic shares[156]. - The major shareholder, Fujian Qipiwolf Group, owns 203,932,000 domestic shares, accounting for 40.79% of the relevant class of shares and 29.99% of the total issued share capital[157]. - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the year ending December 31, 2024[142]. Employee and Operational Insights - The company actively engages in team building and professional development to improve employee skills and knowledge[9]. - The number of employees as of December 31, 2024, was 51, all based in China, with compensation aligned with local laws and regulations[84]. - Total operating and management expenses decreased from RMB 24.0 million in 2023 to RMB 23.0 million in 2024, mainly due to reduced employee costs[41]. Acquisitions and Investments - The company completed the acquisition of a 23.0% equity stake in Jinjiang Huixin for a total consideration of RMB 82.96 million, which will continue to be consolidated in the financial statements[80]. - The company completed the acquisition of 24% equity in Huizhi Xin for approximately RMB 185 million, enhancing control over its assets and business strategies[176]. - The company also acquired 23.04% equity in Jinjiang Huixin for approximately RMB 829.6 million, which is expected to strengthen its competitive advantage in the financial market[179].

Revenue Performance - For the year ended December 31, 2024, the Group's revenue decreased by 40.2% from approximately HK$134.6 million in 2023 to approximately HK$80.5 million in 2024[12]. - Total revenue for construction and engineering services decreased by approximately 50.2% to HK$61.1 million for the year ended December 31, 2024, compared to HK$122.8 million in the previous year[23]. - The completion of major slope works projects in 2023 and 2024 significantly impacted revenue[12]. - Revenue from property-related services increased by 6.7% from approximately HK$8.4 million in 2023 to approximately HK$9.0 million in 2024[12]. - Revenue from property-related services remained stable, with approximately HK$5.0 million for the year ended 31 December 2024 compared to approximately HK$4.6 million for the year ended 31 December 2023[42]. - The Group recorded revenue of approximately HK$10.4 million from luxury product sales in 2024, up from approximately HK$3.4 million in 2023, driven by stable growth in luxury watch sales[29]. - Revenue from sales of luxury products increased by approximately HK$7.0 million or approximately 207.5%, from approximately HK$3.4 million for the year ended 31 December 2023 to approximately HK$10.4 million for the year ended 31 December 2024[43]. Profitability and Financial Performance - The Group's total gross profit for the year ended 31 December 2024 amounted to approximately HK$5.4 million, representing an increase of 50.6% compared to approximately HK$3.6 million for the year ended 31 December 2023[48]. - The gross profit margin for the year ended 31 December 2024 was approximately 6.7%, compared to approximately 2.7% for the year ended 31 December 2023[48]. - Gross profit from construction and engineering services increased by 150% to approximately HK$0.6 million for the year ended 31 December 2024, with a gross profit margin of approximately 1.0%[49]. - Gross profit from property-related services increased to approximately HK$2.8 million for the year ended 31 December 2024, with a gross profit margin of approximately 31.5%[50]. - Gross profit from sales of luxury products increased by approximately 100% to approximately HK$2.0 million for the year ended 31 December 2024, with a gross profit margin of approximately 18.8%[51]. - The net loss for the year ended December 31, 2024, was approximately HK$15.8 million, a slight improvement from a net loss of approximately HK$16.4 million for the year ended December 31, 2023, with a net loss margin of approximately 19.6%[61]. Business Strategy and Future Outlook - The Group plans to review existing operations and formulate long-term business strategies to improve profitability, particularly in site formation and ground investigation works[13]. - The Group aims to optimize and diversify business operations while exploring new business opportunities to strengthen revenue[14]. - The Group plans to continue exploring business expansion opportunities beyond construction and engineering services to enhance future development and strengthen revenue bases[35]. - The Group is adopting a cautious approach to future development, monitoring market risks and uncertainties during the economic recovery cycle[36]. - The construction and engineering services sector is expected to face challenges in the coming years[13]. Corporate Governance - The Company emphasizes high standards of corporate governance to enhance shareholder value and safeguard stakeholder interests[113]. - The Board has adopted the Corporate Governance Code provisions applicable for the year ended December 31, 2024, to ensure compliance with the Listing Rules[113]. - The Company will continue to review and enhance its corporate governance practices in line with the latest developments[113]. - The Company has adopted and complied with the Corporate Governance Code during the year ended 31 December 2024[114]. - The Board is composed of five members, including two executive Directors and three independent non-executive Directors[124]. - The Board has achieved a gender diversity target of at least 20% female Directors, currently comprising one female and four male Directors[135]. - The Company has adopted a nomination policy to ensure a balance of skills, experience, and diversity among Board members[139]. - The roles of chairman and chief executive officer are held by separate individuals, in compliance with corporate governance standards[146]. Employee and Operational Information - The Group employed 60 full-time employees as of December 31, 2024, down from 65 full-time employees in the previous year, with total staff costs amounting to approximately HK$29.0 million[81]. - The Group's cash and bank deposits denominated in US dollars amounted to approximately HK$37.8 million as of December 31, 2024, compared to approximately HK$37.1 million as of December 31, 2023[77]. - The Group has sufficient insurance coverage for claims and litigations related to employee compensation and personal injury, with no material adverse impact expected on operations or financial position[88]. - The Group continues to review its employee compensation policy to ensure competitiveness in the market[85]. - The Group has been involved in various claims and litigations but does not anticipate any significant financial impact from these issues[87]. Financial Position and Cash Flow - As of December 31, 2024, the Group had total cash and bank balances of approximately HK$121.4 million, down from approximately HK$137.2 million as of December 31, 2023[69]. - The gearing ratio as of December 31, 2024, was approximately 0.4%, a decrease from approximately 0.8% as of December 31, 2023, due to lower total indebtedness from lease liability repayments[71]. - The Group had no significant investments, material acquisitions, or disposals of subsidiaries, joint ventures, and associated companies during the year ended December 31, 2024[79]. - The Board did not recommend the payment of any final dividend for the year ended December 31, 2024, consistent with the previous year[62]. - The Company has a dividend policy that considers factors such as financial condition, capital and debt levels, and future cash requirements[145]. Board and Committee Activities - The Audit Committee is composed of three independent non-executive Directors, ensuring oversight of the Group's financial integrity[180]. - The external auditor, Grant Thornton, received HK$940,000 for audit services and HK$30,000 for non-audit services for the year ended 31 December 2024[190]. - The Directors confirmed that the consolidated financial statements for the year ended 31 December 2024 were prepared on a going concern basis and complied with relevant accounting standards[191]. - The company held four Board meetings and one general meeting during the year ended 31 December 2024[175]. - The Audit Committee held three meetings to review the Group's interim and annual financial results, internal control, and risk management systems[185].

Financial Performance - For the year ended December 31, 2024, the revenue of China Boqi Environmental amounted to RMB 2,151 million, representing an increase of 0.6% compared to RMB 2,138 million for the previous year[15]. - The gross profit for the same period was RMB 435 million, a decrease of 0.2% from RMB 436 million last year, with a gross profit margin of 20.2%, stable compared to 20.4% last year[16]. - The net profit for the year was RMB 240 million, an increase of 1.3% from RMB 237 million, maintaining a net profit margin of 11.2%[17]. - The Group's net profit, excluding fair value changes and investment income, was RMB 240 million, reflecting a 3.4% increase from RMB 232 million last year[17]. - The overall financial performance indicates a stable growth trajectory despite slight fluctuations in gross profit and revenue segments[15][16][17]. - The total revenue for the Group for the year ended December 31, 2024, was RMB 2,150,937 thousand, a slight increase from RMB 2,138,199 thousand in 2023[29]. - Gross profit for the year was RMB 434,725 thousand, compared to RMB 436,100 thousand in the previous year, indicating a stable gross margin[29]. - Profit for the year attributable to owners of the parent was RMB 236,436 thousand, slightly down from RMB 240,184 thousand in 2023[29]. - The Group's total comprehensive income for the year was RMB 240,424 thousand, compared to RMB 237,351 thousand in 2023, reflecting a positive trend[31]. - The company's operating revenue for 2024 amounted to RMB 2,151 million, with a gross profit of RMB 435 million and a net profit of RMB 240 million, indicating stable and improving performance[38]. Business Segments - Revenue from the flue gas treatment business segment was RMB 1,735 million, with 7 new EPC projects totaling approximately RMB 378 million in contract value[18]. - Revenue from the water treatment business segment was RMB 204 million, with 14 water treatment projects under stable operation as of December 31, 2024[19]. - The hazardous and solid waste treatment business segment reported revenue of RMB 53 million, with stable operations from the Qinghai Boqi disposal center contributing to sustainable income[23]. - The dual-carbon new energy+ business segment achieved revenue of RMB 159 million, with significant progress in photovoltaic projects and a new contract for waste heat utilization[24]. - The Group successfully implemented 7 concession operation projects, all of which were operational, laying a solid foundation for continued operation and stable development[18]. Strategic Focus and Development - The Group's strategic focus on environmental projects continues to yield consistent operational results and revenue stability[18][19]. - The Company aims to integrate four major business segments: flue gas treatment, water treatment, hazardous and solid waste treatment/disposal, and dual-carbon new energy+, to create a comprehensive ecological service system[52][55]. - The Group is committed to a dual-engine strategy of "environmental governance and dual-carbon new energy+", aiming for stable cash flow from traditional businesses and growth from emerging sectors[57][58]. - The Group's strategic target includes "Carbon Peaking and Carbon Neutrality," aligning with national policies to expand into new energy power generation and storage[52][55]. - The Group's commitment to ecological civilization construction aims to contribute positively to environmental protection in China and globally[155]. Research and Development - The Group's investment in research and development (R&D) led to key technological breakthroughs and the acquisition of multiple new patents in 2024[43]. - The Group is increasing R&D investment and recruiting talent to drive technological innovation and transformation[171]. - The Group's focus on technological innovation is seen as a core driving force for sustainable development amidst market challenges[171]. Management and Governance - The senior management team includes Mr. Zeng Zhijun as chairman and CEO, with a tenure starting in 2004[114]. - The company has a diverse executive team with members holding various key positions since 2004, 2007, and 2019, indicating stability and experience[114]. - The board includes members with significant legal and financial expertise, enhancing governance and strategic oversight[107][104]. - The company is actively involved in strategic cooperation with government entities, which may enhance its market access and growth potential[98]. Market Conditions and Challenges - The global economic slowdown has increased financing difficulties, while the energy transformation has made environmental protection and new energy a new investment hotspot[168]. - The company faces challenges in business expansion and project execution due to increased liquidity pressure on customers and compressed profit margins[168]. - The company anticipates a period of high-quality development driven by the implementation of new environmental policies and standards[162]. Operational Projects - The Group operated 38 O&M projects during the reporting period, all achieving emission standards and providing stable performance growth[18]. - The Group's O&M projects have consistently operated with emissions in compliance with required standards, contributing to stable business performance[191]. - The Group's ongoing projects reflect a commitment to environmental sustainability and compliance with emission standards, enhancing its market position[191]. - The company is expanding its service offerings with multiple projects focused on environmental protection and efficiency improvements in the steel industry[194].

Financial Performance - The group's total revenue for 2024 was HKD 2,858 million, an increase of 12.0% compared to HKD 2,552 million in 2023[15] - Basic earnings attributable to shareholders rose by 1.2% to HKD 831 million in 2024, compared to HKD 821 million in 2023[10] - Basic earnings per share for 2024 was HKD 1.20, slightly up from HKD 1.19 in 2023[12] - The group received certifications for its hotels as Muslim-friendly, enhancing its competitive position in the market[19] - The hotel and serviced apartment business reported total revenue of HKD 597.4 million, an increase of 2.7% compared to HKD 581.9 million in the same period last year[28] - EBITDA for the hotel and serviced apartment business was HKD 139.9 million, a decrease of 8.8% from HKD 153.5 million in the previous year[28] - The group's food and beverage revenue increased by 3.9% to HKD 290.4 million, while EBITDA dropped by 62.4% to HKD 11.3 million[39] - The tourism business recorded a revenue of HKD 1.1794 billion, with EBITDA rising by 118.4% to HKD 102 million, marking a significant recovery from the previous year[43] - Rental income for the group was HKD 791.3 million, with an EBITDA of HKD 663.9 million, reflecting a slight decrease of 0.5% and 0.9% compared to the previous year[32] Tourism and Hospitality - The tourism segment saw a significant revenue increase of 31.6% year-on-year, contributing to the overall growth[19] - The average occupancy rates for The Mira Hong Kong and Moon Hotel exceeded 92% and 95% respectively, reflecting strong performance in the hotel sector[19] - The Mira Hong Kong and Moontide Hotel's occupancy rates increased to 92.1% and 95.4% respectively in 2024, compared to 89.8% and 95.0% in 2023; average room rates reached HKD 1,416 and HKD 1,636[30] - The group anticipates continued growth in the tourism sector due to increased airline capacity and rising outbound travel demand[44] Investment and Financial Strategy - As of December 31, 2024, the group's total cash was HKD 6 billion, an increase from HKD 5.6 billion on December 31, 2023, with no loans reported[47] - The total credit facilities granted to the group remained at HKD 900 million as of December 31, 2024, with no utilization reported[47] - The group's debt-to-equity ratio remained at zero, indicating a strong financial position with sufficient funds and credit facilities to navigate uncertain economic conditions[47] - The group continues to seek investment opportunities and increase financial asset investments, focusing on long-term holdings[47] - The group capitalized on the trend of U.S. interest rate cuts and the rise of the mainland stock market, achieving over HKD 60 million in profits from securities investments during the year[47] Sustainability and Environmental Initiatives - The group follows the ESG reporting principles of "materiality," "quantification," "balance," and "consistency" as per the Hong Kong Stock Exchange guidelines[70] - The company is implementing energy optimization measures, including upgrading lighting efficiency and integrating sustainable design principles into building projects[82] - A commitment to carbon neutrality has been established through participation in the "Starry Partnership" program, demonstrating the company's dedication to reducing its carbon footprint[83] - The group has established a "Mi Go Green" collaborative platform to promote sustainable living and reduce meat consumption, aiming for a greener lifestyle[113] - The "Mi Green Park" initiative, launched in collaboration with CLP Power, features 25 electric vehicle charging stations, including 7 kW AC and 120 kW DC fast charging options, contributing to reduced carbon emissions[114] - The company implemented energy-saving measures, reducing electricity consumption by over 9 million kWh[133] - The lighting system upgrades saved over 80% of electricity in certain areas, contributing to a "good" energy performance rating[134] Community Engagement and Social Responsibility - The group actively supports community development through the "Mira Care" platform, engaging in social services and charitable activities[143] - The group partnered with the Hong Kong Children’s Rescue Association to promote sustainable development through a special event for underprivileged families[153] - The group is committed to fostering young talent by providing internship opportunities at The Mira Hong Kong for students from the Hong Kong Student Aid Society[166] - The group has organized hotel tours and employment seminars for 43 secondary school students in 2024, aimed at increasing awareness of the hotel industry[186] - The group has collaborated with local organizations to host a "Minority Recruitment Day," providing employment opportunities for ethnic minorities[182] Employee Training and Safety - Over 18,000 hours of training provided to employees, both online and offline[67] - The company recorded 30 workplace accidents in the reporting year, a decrease of 14 incidents (32% drop) compared to 2023, resulting in a total of 639.5 lost workdays[198] - The total injury rate significantly decreased by 35% to 1.88% over the reporting period[198] - The company established an Occupational Safety and Health Committee in 2023, comprising senior management and representatives from all relevant business units[198] - The company emphasizes equal opportunity in hiring practices, ensuring that applicants are not required to disclose unrelated personal information[195]

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 3,086,742, a decrease of 21.8% compared to RMB 3,950,585 in 2023[12] - Gross profit for 2024 was RMB 728,764, down from RMB 738,164 in 2023, reflecting a gross margin of approximately 23.6%[12] - Adjusted EBITDA for 2024 was RMB 384,483, a decline of 30.8% from RMB 556,047 in 2023[12] - Total revenue for 2024 reached RMB 3,086.7 million, a year-on-year decrease of 21.9%[20] - Profit for the year reached RMB 73.0 million, an increase of over six times compared to 2023[21] - The company's GPV decreased by 19.0% year-on-year to RMB 233.55 billion for the year ending December 31, 2024, compared to RMB 288.29 billion for the previous year[36] - Revenue for the year ending December 31, 2024, was RMB 3,086.7 million, a decline of 21.9% from RMB 3,950.6 million in the same period last year[36] - The company's net profit surged over six times to RMB 73.0 million for the year ending December 31, 2024, compared to RMB 10.1 million in the previous year, resulting in a net profit margin of 2.4%[38] - The revenue from the one-stop payment service decreased by 22.9% to RMB 2,685.9 million, primarily due to macroeconomic fluctuations affecting the average transaction amount per customer[68] Operational Efficiency - The company is focusing on profitability and operational sustainability, optimizing payment and value-added services[16] - The company reduced sales, management, and R&D expenses by 11.0%, 10.8%, and 10.5% respectively, through enhanced AI tool utilization, leading to a 20% reduction in related operational costs[38] - The company's operating costs decreased by 26.6% from RMB 3,212.4 million in 2023 to RMB 2,358.0 million in 2024, primarily due to improved bargaining power leading to reduced commission fees paid to distribution channels[72] - The gross margin for the one-stop payment service improved from 9.7% in 2023 to 14.2% in 2024, attributed to the absence of non-recurring income adjustments and reduced commission payments[76] Market Expansion - The company achieved a fivefold year-on-year growth in Gross Payment Volume (GPV) in overseas markets[18] - New e-commerce services were launched in Japan, Singapore, and Hong Kong, further integrating payment and value-added solutions[18] - The company’s overseas GPV reached over RMB 1.1 billion for the year 2024, representing a nearly fivefold increase year-on-year, showcasing strong market expansion capabilities[44] - The company plans to accelerate its globalization strategy and expand into overseas markets, leveraging its established product system and operational experience in China[56] Technology and Innovation - The company launched a series of AI-driven products aimed at reducing costs and increasing efficiency, including the Winsfor in-store business intelligence platform[17] - The company aims to enhance operational efficiency and product competitiveness through deeper AI integration in future operations[24] - The AI-driven "Y-Copilot" coding assistant improved internal code adoption rates to over 30%, enhancing project efficiency[43] - The company expanded its product offerings by launching an AI Agent solution for Southeast Asian merchants, enhancing customer service and operational efficiency[42] - The company is investing in artificial intelligence and big data analytics to ensure the competitiveness of its products and services[148] Financial Position - The total assets as of December 31, 2024, were RMB 7,705,476, a decrease from RMB 8,420,361 in 2023[13] - The company's equity attributable to shareholders was RMB 2,665,238, down from RMB 2,707,876 in 2023[13] - Total liabilities decreased from RMB 5,803.0 million as of December 31, 2023, to RMB 5,116.0 million as of December 31, 2024[96] - The debt-to-equity ratio improved from 45.3% as of December 31, 2023, to 35.9% as of December 31, 2024, primarily due to the early redemption of convertible bonds using internal cash flow[99] - Cash and cash equivalents decreased by 32.9% from RMB 887.9 million as of December 31, 2023, to RMB 595.7 million as of December 31, 2024[99] Shareholder Returns - The board approved a total of USD 10 million for share buybacks to enhance shareholder returns[59] - The company repurchased $35 million in convertible bonds and reduced financial costs by over 30% year-on-year, resulting in a net profit increase of over six times to RMB 73.0 million[55] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: nil) [160] Leadership and Governance - Liu Yingqi, the CEO, has over 25 years of experience in corporate management and information technology, previously serving as General Manager at Tencent's online payment platform[117] - The company has a strong leadership team with executives like Yao Zhijian, who has been CFO since 2011, overseeing financial and accounting matters[119] - The management team emphasizes innovation and technology as key drivers for future growth[121] - The leadership is committed to environmental, social, and governance (ESG) initiatives, with dedicated committees in place[119] Employee Incentives - The company has implemented a restricted share unit plan and stock option plan to attract and retain skilled and experienced personnel for future development and expansion[144] - The restricted share unit plan was adopted to replace the pre-IPO share incentive plan, with the aim of attracting and retaining skilled personnel for future development [172] - The performance assessment for vesting includes metrics such as work quality, efficiency, collaboration, and management skills[182] Risk Management - The company has established security systems including firewalls and intrusion detection systems to monitor and protect its IT infrastructure[151] - The company maintains a fraud prevention system that automatically monitors merchants and assesses fraud risks[156] - The company provides regular training for employees on anti-money laundering, fraud, and misconduct to enhance awareness and understanding of these issues[156]

Financial Performance - Xiaomi Group reported a revenue of HKD 365.91 billion for the fiscal year 2024, an increase of 35.1% compared to HKD 270.97 billion in 2023[11]. - The net profit for 2024 was HKD 76.56 billion, up 33.3% from HKD 57.48 billion in the previous year[11]. - The company achieved a gross profit of HKD 24.50 billion, representing a 22.5% increase from HKD 20.01 billion in 2023[11]. - Xiaomi's operating profit for 2024 was HKD 28.13 billion, a rise of 27.5% compared to HKD 22.01 billion in 2023[11]. - The company reported a total operating income of $38.57 billion, down from $44.40 billion in 2023, indicating a decrease of 13.0%[12]. - The company reported a revenue of 702.3 million, representing a 9.5% increase year-over-year as of December 31, 2024[18]. - The company reported a revenue of 365,906.4 million for the year ending December 31, 2024, compared to 270,970.1 million in 2023, representing a year-over-year growth of approximately 35.1%[34]. - The company reported a revenue of 63,464.0 million for the fiscal year ending December 31, 2024, reflecting a growth of 55% compared to the previous year[62]. - The company reported a total revenue of $2,115,629 million for the latest fiscal year, a decrease of 760,299 million compared to the previous year[80]. - The company reported a revenue of $4,517,510,134 for the fiscal year ending December 31, 2024, representing a year-over-year growth of 21.9%[134]. Market Expansion and Strategy - The company plans to expand its market presence in Europe and Southeast Asia, focusing on increasing its smartphone market share[11]. - The company plans to expand its market presence in the AIoT sector, focusing on innovative product development and strategic partnerships[14]. - The company is exploring potential mergers and acquisitions to strengthen its position in the technology sector[11]. - The company is focusing on expanding its market presence in the smart device sector, with a projected revenue of K 58 million from new product lines by December 2024[28]. - The company aims to launch new products and technologies in the upcoming quarters to drive further growth and market share[30]. - The company plans to enhance its ESG (Environmental, Social, and Governance) initiatives, aiming for a MSCI ESG rating improvement to BB by the end of 2024[30]. - The company is focusing on market expansion strategies to enhance revenue growth in the upcoming years[54]. - The company is exploring potential acquisitions to enhance its market position and product offerings[56]. - The company is focusing on market expansion strategies, particularly in Asia and Europe[70]. - The company plans to expand its market presence in Asia, targeting a 15% increase in market share by 2025[72]. Research and Development - Xiaomi is investing in new product development, particularly in AI and smart home technologies, to enhance its ecosystem[11]. - The company reported a significant increase in R&D expenditure to HKD 24.34 billion, reflecting a commitment to innovation and technology advancement[11]. - The company is investing in R&D for new technologies, including advancements in AI and IoT solutions[20]. - The company is investing in new technologies to enhance its product offerings, particularly in the AIoT space[15]. - The company plans to invest in new technologies, aiming for a 6.8% increase in R&D spending to drive innovation[133]. - The company has allocated $200 million for research and development in the upcoming year to innovate and improve existing products[126]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[87]. - Research and development expenses increased by 10%, totaling $30 million, focusing on innovative technologies[71]. - The company is investing in new technology development, aiming to enhance user experience and increase market share[79]. - The company is focusing on new product development and technology advancements to enhance user engagement and retention[139]. User Engagement and Data - The company reported a significant increase in user data, with active users reaching 17 million, a growth of 20% year-over-year[11]. - User data showed a significant growth in AIoT segment, with revenue of $3.66 billion, reflecting a 35.0% year-over-year increase[13]. - User data for AIoT products reached 904.6 million, marking a 22.3% growth year-over-year by December 31, 2024[18]. - User data indicates a total of 3,719,482 active users, with a significant increase in engagement metrics[51]. - User data showed a total of 6,829,800 active users as of January 6, 2025, indicating a growth trend in user engagement[64]. - User data showed a growth of 12 million active users, bringing the total to 150 million[87]. - User data indicated a total of 2,358,377,326 active users, with a growth of 124,851,426 users compared to the previous year[85]. - User data showed a total of 609,370,425 active users, with a decline of 181,420,563 users year-over-year[80]. - User data indicates a total of 40 million active users as of December 31, 2024, which is an increase of 36% year-over-year[62]. - User data showed a growth of 25% in active users, totaling 5 million by the end of the quarter[143]. Future Outlook and Guidance - Xiaomi's future outlook includes a revenue growth target of 15-20% for the next fiscal year, driven by new product launches and market expansion[11]. - Future guidance suggests a continued upward trend in revenue, with expectations of reaching $450 billion by the end of 2025[16]. - The company anticipates a revenue guidance of 4,000 to 5,000 million for the upcoming year, with a projected growth rate of 23.3%[20]. - Future guidance indicates a strong growth trajectory, with total revenue expected to reach $272 million by the end of 2024, up from $193 million in 2023[48]. - The company provided a future outlook with a revenue guidance of $27,234,531 for the upcoming fiscal year, indicating a growth trajectory[51]. - The company provided guidance for 2024, expecting revenue growth of approximately 10%[68]. - Future guidance remains positive, with management expressing confidence in achieving set targets and enhancing shareholder value[113]. - The company is projecting a revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[126]. - The company has provided guidance for Q4 2023, expecting revenue to reach approximately $3.10 million[147]. - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues of approximately $1.32 billion[144].