Financial Performance - The company achieved total operating revenue of RMB 8.823 billion for the year ended December 31, 2024, representing a year-on-year growth of 26.3%[11]. - Net profit attributable to shareholders reached RMB 2.074 billion, an increase of 48.3% compared to the previous year[11]. - Earnings per share (EPS) was RMB 0.71, reflecting a year-on-year growth of 47.9%[11]. - Total assets increased to RMB 29.695 billion, up from RMB 27.500 billion in the previous year[14]. - Total liabilities rose to RMB 6.798 billion, compared to RMB 6.482 billion in the previous year[14]. - The company reported credit impairment losses of RMB 114.0 million in 2024, primarily due to provisions for overdue receivables from third-party customers[47]. - The company's total operating costs for 2024 were RMB 6,453.5 million, an increase of RMB 1,152.6 million or 21.7% from RMB 5,300.8 million in 2023[46]. - Operating profit rose to approximately RMB 2,402.5 million in 2024, an increase of about RMB 797.9 million or 49.7% from RMB 1,604.6 million in 2023[46]. - In 2024, the company's pre-tax profit was approximately RMB 2,394.5 million, an increase of about 48.5% compared to the fiscal year ending December 31, 2023[41]. - The company’s net profit attributable to shareholders was approximately RMB 2,074.3 million, reflecting an increase of about 48.3% year-on-year[41]. - Total revenue for 2024 was approximately RMB 8,823.0 million, representing an increase of about RMB 1,839.2 million or 26.3% from RMB 6,983.8 million in 2023[43]. Market Presence and Operations - The company is actively expanding its market presence with 400+ sellable airlines and 260 domestic airports integrated into its systems[1]. - The company holds the leading market share in the decision-making system across nearly 40 major airports in China, with over 95% coverage of the civil aviation transfer passenger service platform in 263 airports nationwide[19]. - In 2024, the system processed approximately 732.4 million passengers for domestic and international commercial airlines, representing an 18.1% year-over-year increase[25]. - The company’s settlement and clearing system handled approximately 1,263.9 million transactions in 2024, a 24.2% increase year-over-year, with total revenue from agency settlements exceeding 66.38 billion RMB, up 39.7% year-over-year[29]. - The international passenger flights have recovered to over 80% of the levels seen in 2019, establishing a solid foundation for the company's business development[23]. Innovation and Technology - The company aims to enhance its core competitiveness by focusing on digital economy, low-altitude economy, and strategic emerging industries, while also investing in new growth areas[20]. - The company has signed contracts with 19 airlines for its digital retail middle platform solution, supporting a customer-centric business model[27]. - The company’s self-developed universal self-service check-in system is in use at 241 major domestic and international airports, with online check-in services applied to 358 airports[25]. - The group has achieved a leading market share in the A-CDM system among nearly 40 major domestic airports[33]. - The group launched the "Intelligent Customer Service Platform" based on large models, fully opening it to airlines, airports, and agents[38]. - The group has received international leading evaluation for its "Aviation Travel Chain" project, focusing on blockchain and digital currency technologies[35]. Employee and Corporate Governance - The company has 6,722 employees as of December 31, 2024[5]. - The company emphasizes its core values of talent, safety, service, and innovation, aiming to create value through information[88]. - The board consists of nine directors, with external directors making up more than half, including at least three independent non-executive directors[90]. - The company has established a governance framework to ensure independent opinions are provided during board decision-making processes[99]. - The company has implemented strict anti-corruption and reporting policies, ensuring compliance with relevant laws and maintaining transparent reporting channels[89]. Risk Management and Compliance - The company has established a comprehensive risk management and internal control system, which is deemed effective and sufficient, with no significant deficiencies reported during the evaluation period[126]. - The company has implemented a dynamic risk management process, continuously updating its risk database and conducting comprehensive risk assessments across five major risk areas: strategic, market, financial, legal, and operational[128]. - The internal control system is subject to annual effectiveness checks and continuous optimization to address any identified deficiencies and significant risks[129]. - The company aims to enhance its internal control capabilities by increasing budget allocations and resources to adapt to the expanding business scope[126]. Shareholder Relations and Dividends - The company proposed a final dividend of RMB 0.239 per share (tax included) for the year[18]. - The company plans to distribute a final dividend of RMB 699.4 million for the fiscal year 2024, which is approximately 35%-45% of the net profit attributable to the parent company[56]. - The company has maintained compliance with public float requirements as stipulated by the listing rules[153]. - The company disclosed compliance information, including annual reports and ESG reports, in accordance with regulatory requirements, accessible via the Hong Kong Stock Exchange and the company's compliance website[140]. Environmental, Social, and Governance (ESG) - The company has been recognized for its ESG efforts, being selected for the Central Enterprise ESG Pioneer 100 Index for four consecutive years, achieving a four-and-a-half-star rating[19]. - The company has a robust environmental policy and performance, detailed in the business review section[149]. - The Strategic Committee held 1 meeting in 2024, discussing sustainable development and reviewing the 2023 ESG report[122]. Related Party Transactions - The company has entered into a data center lease agreement with a related party, with a lease term from September 1, 2022, to August 31, 2025[182]. - The company has a service agreement with a related party for cloud services and computer system services, which constitutes a continuous related party transaction[190]. - The company’s independent non-executive directors have confirmed that the ongoing related party transactions are conducted on fair and reasonable terms[181]. - The company has implemented internal controls for related party transactions, including identification, management, monitoring, approval, and disclosure[180].

Financial Performance - The company reported a consolidated revenue of $500 million for the fiscal year 2024, representing a 15% increase compared to the previous year[57]. - Revenue for 2023 was RMB 2,080,285, a decrease from RMB 3,520,608 in 2022, representing a decline of approximately 41%[11]. - The Group's revenue for the year ended December 31, 2024, decreased to approximately RMB 1,873,800,000, a decline of about RMB 206,500,000 or 9.9% compared to RMB 2,080,300,000 in 2023[52]. - Gross profit for 2023 was RMB 438,844, down from RMB 1,478,435 in 2022, indicating a decrease of about 70%[11]. - Gross profit fell to approximately RMB 227.5 million, down RMB 211.3 million or 48.2% from RMB 438.8 million in 2023, with the gross profit margin decreasing to 12.1% from 21.1%[60]. - Profit attributable to owners of the company for 2023 was RMB 211,071, a significant drop from RMB 870,924 in 2022, reflecting a decline of approximately 76%[11]. - Profit attributable to owners of the Company significantly decreased to approximately RMB 66.9 million from RMB 211.1 million in 2023[69]. User Growth and Market Expansion - User data showed a growth in active users to 1.2 million, up from 1 million, indicating a 20% year-over-year increase[12]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[12]. Product Development and Innovation - New product launches contributed to 25% of total revenue, with the introduction of three innovative products in the last quarter[12]. - Research and development expenses increased by 12% to $50 million, focusing on sustainable technologies and product innovation[12]. - The Group is continuously investing in production technology improvements and R&D for new products to transition towards a high-tech and low-carbon development model[24]. Financial Management and Cash Flow - The company maintained a healthy cash flow position despite a notable decline in financial results compared to the previous year[19]. - The Group's net cash inflow from operating activities was approximately RMB 395.4 million in 2024, down from RMB 649.2 million in 2023[75]. - The Group has sufficient financial resources to meet its current commitments and working capital requirements, supported by stable cash inflows and available credit facilities[77]. Dividends and Shareholder Returns - The board of directors approved a dividend payout of $0.10 per share, maintaining a consistent return to shareholders[12]. - The Group proposed a final dividend of HK$0.03 per share for the financial year ended December 31, 2024, down from HK$0.10 in 2023[23]. - Total dividends for the year are expected to be HK$0.05 per share, compared to HK$0.13 in 2023, reflecting a decrease of approximately 61.54%[27]. Strategic Acquisitions and Investments - The company completed a strategic acquisition of a competitor for $100 million, expected to enhance its product offerings and market reach[12]. - The company plans to invest $20 million in enhancing its digital infrastructure to improve customer engagement and operational efficiency[12]. Operational Challenges and Market Conditions - The Group faced significant downward pressure on product prices due to high USD interest rates and weak domestic demand, leading to a substantial decline in selling prices across most products[46]. - The actual effectiveness of the Chinese government's economic stimulus measures remains uncertain, impacting the Group's operational strategies[25]. - The Group is adopting more conservative operating strategies to maintain a sound cash flow position amidst increasing geopolitical risks and macroeconomic uncertainties[25]. Environmental and Sustainability Initiatives - The Group is committed to maintaining an environmentally friendly policy and has achieved ISO 14001 certification since 2004[110]. - The Group actively implements waste treatment and recycling measures, aiming to improve the quality of working life and environment for its employees[116]. - The Group has established a comprehensive "Significant Environmental Factors Contingency Plan" to enhance environmental emergency response capabilities[121]. Human Resources and Employee Management - The Group has established human resources policies to attract and retain employees, including a compensation scheme aligned with market rates[96]. - The Group's emolument policy is based on merit, qualifications, and competence, with reviews conducted by the Remuneration Committee[197]. - As of December 31, 2024, the Group had 1,358 full-time employees, a decrease from 1,536 in 2023[95]. Risk Management and Financial Position - The Group's financial position may be restricted by credit market conditions and credit ratings, potentially increasing borrowing costs due to interest rate fluctuations[130]. - Management has established a team to minimize credit risk by determining credit limits and monitoring overdue debts[130]. - The Group's interest rate risk primarily arises from bank borrowings, with new loans requiring careful assessment and approval by the executive directors[89].

Financial Performance - For the year ended December 31, 2024, the Group achieved a revenue increase of approximately RMB 22.3 million or 8.70%, totaling approximately RMB 278.2 million compared to the previous year[15]. - The Group's profit for the year ended December 31, 2024, decreased by approximately RMB 0.3 million or 1.3%, amounting to RMB 20.1 million, primarily due to increased subcontracting charges[15]. - Revenue for 2024 increased to RMB 278,223,000 from RMB 255,959,000 in 2023, representing a growth of approximately 8.9%[27]. - Other income rose significantly to RMB 4,020,000 in 2024, compared to RMB 1,834,000 in 2023, marking an increase of 119.5%[27]. - Operating profit decreased to RMB 20,876,000 in 2024 from RMB 23,961,000 in 2023, a decline of about 8.7%[27]. - Profit before tax for 2024 was RMB 21,916,000, slightly down from RMB 23,083,000 in 2023, reflecting a decrease of 5.1%[27]. - Profit for the year attributable to equity holders of the Company was RMB 20,140,000 in 2024, compared to RMB 20,397,000 in 2023, a decrease of 1.3%[27]. - Employee benefit expenses increased to RMB 19,357,000 in 2024 from RMB 17,124,000 in 2023, an increase of 13.1%[27]. - Subcontracting charges rose to RMB 186,868,000 in 2024, up from RMB 153,847,000 in 2023, indicating an increase of 21.5%[27]. - The Group's net profit margin decreased from approximately 8.0% for the year ended 31 December 2023 to approximately 7.2% for the year ended 31 December 2024[95]. Market Opportunities and Challenges - The ICT industry in the PRC is undergoing significant digital transformation, presenting both opportunities and challenges due to market saturation and intensified competition[19]. - The Company plans to optimize and enhance its ICT integration services and software development to capitalize on digital transformation opportunities[20]. - There is significant demand for ICT infrastructure construction in overseas markets, particularly in developing countries, which provides expansion opportunities for the Company[19]. - Increased customer demands for service quality and technological innovation are raising expectations for the Company's comprehensive capabilities[19]. - The Company acknowledges challenges in international trade environments, cultural differences, and technical barriers that may impact overseas expansion efforts[19]. - The Group faces challenges in international expansion due to uncertainties in the trade environment and cultural differences, despite significant demand for ICT infrastructure in developing countries[48]. Strategic Initiatives - The Group aims to delve deeper into emerging areas such as the third-generation Internet and artificial intelligence to deliver long-term value for shareholders[20]. - The Group aims to enhance its ICT integration services and explore opportunities in digital transformation, including third-generation internet and artificial intelligence[27]. - The management expresses confidence in creating long-term value for shareholders through ongoing improvements and strategic initiatives[24][26]. - The Group will continue to focus on providing telecommunication network support services, including maintenance and engineering services[29][34]. Corporate Governance and Leadership - The Group's successful listing has also strengthened its internal control functions and promoted its image as a well-organized establishment to the public[14]. - The Group issued 125,000,000 shares at HK$1.00 each, resulting in net proceeds of approximately HK$60.6 million (equivalent to approximately RMB 56.0 million) after deducting underwriting commissions and related expenses[125]. - The Company has adopted various policies to ensure compliance with the Corporate Governance Code, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[194]. - The Company recognizes the importance of high corporate governance standards to enhance corporate value and accountability[193]. - All Directors confirmed compliance with the Model Code for Securities Transactions throughout the reporting period[198]. Financial Position and Utilization of Proceeds - Cash and cash equivalents increased to approximately RMB105.0 million as at 31 December 2024, representing an increase of approximately 341.2% compared to RMB23.8 million as at 31 December 2023[99]. - The current ratio improved to approximately 2.4 as at 31 December 2024, compared to approximately 1.9 as at 31 December 2023[98]. - Total bank borrowings amounted to approximately RMB31.8 million as at 31 December 2024, up from RMB20.0 million in 2023[105]. - The gearing ratio decreased to 20.8% as at 31 December 2024, compared to 32.9% as at 31 December 2023[108]. - The Group plans to utilize the net proceeds from the share issuance as previously disclosed, with no changes to the intended use or expected implementation timeline[129]. - 20.5% of net proceeds (approximately RMB 11.5 million) allocated to finance initial funding needs for future ICT integration projects, with an expected full utilization by the end of 2027[131]. - 34.6% of net proceeds (approximately RMB 19.4 million) designated for pursuing new research and development undertakings, expected to be fully utilized by the end of 2027[131]. - 19.8% of net proceeds (approximately RMB 11.1 million) aimed at expanding manpower in project management to support anticipated business growth, with full utilization expected by the end of 2026[131]. - 5.4% of net proceeds (approximately RMB 3.0 million) allocated for financing sales and marketing funding needs for manpower and marketing activities, expected to be fully utilized by the end of 2026[131]. - 12.9% of net proceeds (approximately RMB 7.2 million) set aside for repaying part of bank borrowings, with no applicable timeline for full utilization[131]. - 6.8% of net proceeds (approximately RMB 3.8 million) for general working capital, expected to be fully utilized by the end of 2025[131]. - As of the report date, unutilized net proceeds amount to approximately RMB 32.9 million[131]. - Unutilized net proceeds have been placed as bank balances with licensed banks in Hong Kong[133]. - The Directors are not aware of any material change to the planned use of the net proceeds as of the report date[132]. - The total allocation of net proceeds amounts to 100%, with actual utilization reported at approximately RMB 56.0 million[131]. Leadership Appointments and Experience - Mr. Li Shihua was appointed as Executive Director on September 26, 2024, and is also the chairman of the investment committee[148]. - Mr. Li has extensive investment experience, having served as investment vice president at Silkroad Goldenbridge Capital Management Limited from July 2023 to March 2024[149]. - Mr. Qian Fenglei was appointed as Executive Director on February 11, 2025, and has a background in managing investment companies across various sectors[150]. - Mr. Lin Qihao, appointed as Non-executive Director on September 14, 2021, has over 24 years of experience in the electronic technology industry[153]. - Dr. Leung Kwong Sak was appointed as Independent Non-executive Director on December 15, 2023, and serves on multiple committees including the audit committee[155]. - Dr. Leung has over 40 years of experience in computer science and engineering, serving in various academic roles at the Chinese University of Hong Kong[161]. - Mr. Wong has over 30 years of experience in auditing and accounting, currently serving as an independent non-executive director and chairman of multiple committees[165]. - Ms. Dan holds a bachelor's degree in laws and French and a master's degree in laws, currently serving as an independent non-executive director[172]. - Mr. Wong has been the sole proprietor of Eddy Wong & Co. since May 1994, and has served as an independent non-executive director for several listed companies[165]. - Ms. Dan is a senior partner at Beijing Dacheng Law Offices and has held various legal positions since 2013[173]. - Mr. Wong has been involved with companies that faced significant financial challenges, including a winding-up petition against China All Access for HK$1,451,584,773.03[165]. - Dr. Leung was awarded the title of emeritus professor by CUHK in August 2018, reflecting his distinguished academic career[161]. - Ms. Dan has been active in legal mediation and arbitration, serving as a commercial mediator and arbitrator since 2021[173]. - Mr. Wong has been an independent non-executive director of Sun Hing Vision Group Holdings Limited since September 2004[165]. - Dr. Leung's academic contributions include serving as a chair professor until July 2018 and as a research professor until July 2021[161]. - Ms. Chen Shenmao has been appointed as the vice general manager and financial controller of the Group since December 2023, overseeing finance, administration, and human resources[176]. - Mr. Li Fei, aged 39, is the general manager of Guangdong Jingwei Infinite IoT Technology Co., Ltd., responsible for software development of wireless communication products and business expansion in cloud computing and IoT[180]. - Mr. Xian Zhigang has been serving as the director of research and development and general manager of Zhuhai New Technology Research Institute since 2016 and 2025 respectively, with 16 years of experience in communication and R&D[184]. - The Group's financial management is led by Ms. Chen, who has over 20 years of experience in accounting and finance, recognized as a senior accountant in May 2020[179]. - The Company has a focus on expanding its cloud computing and IoT business under Mr. Li's leadership, leveraging his extensive experience in communication applications[182]. - The Group's R&D efforts are managed by Mr. Xian, who has been recognized as a System Architecture Designer by relevant authorities in November 2019[185]. - The Company aims to enhance its software product offerings through the management of the Research Institute, which is overseen by Mr. Xian[184]. - Ms. Chen's role includes supervising the financial functions of the Group, ensuring effective financial control and administration[176]. - The Group's strategic direction includes a commitment to innovation in wireless communication technologies and software development[180]. - The leadership team is composed of experienced professionals with significant expertise in their respective fields, contributing to the Company's growth and market expansion[179]. - Mr. Siu Chun Pong Raymond appointed as Company Secretary on May 17, 2024, with over 18 years of experience in corporate finance and regulatory compliance[189].

Financial Performance - The company reported a revenue of RMB 258,228,000 for 2024, representing a 196.3% increase compared to RMB 87,161,000 in 2023[9]. - Gross profit for 2024 was RMB 219,394,000, up 191.6% from RMB 75,238,000 in the previous year[9]. - The company achieved a significant reduction in pre-tax loss, which decreased by 38.9% to RMB 127,947,000 from RMB 209,356,000 in 2023[9]. - The company's net asset value fell by 56.6% to RMB 88,934,000 from RMB 205,057,000 in the previous year[9]. - The company's operating revenue increased by 196.3% from RMB 87.2 million in 2023 to RMB 258.2 million in 2024, primarily due to the new launch of CMAB009 and solid sales growth of CMAB007 and CMAB008[69]. - The operating costs rose by 225.7% from RMB 11.9 million in 2023 to RMB 38.8 million in 2024, mainly due to the increase in sales volume of pharmaceuticals[71]. - Gross profit increased by 191.6% from RMB 75.2 million in 2023 to RMB 219.4 million in 2024, with a stable gross margin of 85.0%[72]. - Other income rose by 123.7% from RMB 3.6 million in 2023 to RMB 8.0 million in 2024, mainly due to an increase in government subsidies and grants[74]. Product Development and Pipeline - CMAB009, a key product, was successfully launched and has been included in the National Medical Insurance Catalog, contributing to the company's rapid sales growth[12]. - The company has a pipeline that includes 9 monoclonal antibody drugs and 1 strong antibody drug, with 3 core products already approved for market[18]. - CMAB009, a recombinant anti-EGFR monoclonal antibody, has been approved for market in June 2024, marking it as the first domestically developed anti-EGFR monoclonal antibody for first-line treatment of mCRC[18]. - CMAB007 Omalizumab® has been included in the national medical insurance negotiation list, with sales expected to increase by 2,125% in 2024 compared to 2023[20]. - CMAB008 Lixin® has been approved for six indications, with over 10 million patients in China, indicating a substantial unmet market demand[20]. - CMAB015 has shown significant therapeutic advantages in psoriasis and has become one of the fastest-growing biologics in this field in China, with Phase I clinical trials completed and Phase III trials initiated[23]. - CMAB807 has completed Phase III clinical trials for osteoporosis and is preparing for registration based on international precedents[23]. - CMAB017, an innovative monoclonal antibody, has been approved for clinical trials in late-stage solid tumors, including colorectal cancer, head and neck squamous cell carcinoma, and esophageal squamous carcinoma, demonstrating better efficacy and safety compared to existing EGFR antibody drugs[23]. - The company has initiated real-world studies to analyze the efficacy and safety of CMAB007, with 18 projects targeting various aspects of asthma treatment[138]. Research and Development - Research and development expenses decreased by 39.0% to RMB 75,212,000 from RMB 123,211,000 in 2023, indicating a strategic focus on cost management[9]. - The company has developed a comprehensive R&D and industrialization platform, achieving a total scale of cell reactors exceeding 40,000 liters, which enhances its large-scale production capacity for antibody drugs[14]. - The company is focusing on innovative drug development and has completed significant national-level research projects, including three major "863" projects[24]. - The R&D team consists of three core teams: basic research, clinical trials, and GMP-compliant product preparation, ensuring a robust foundation for innovation[133]. - The company has implemented a comprehensive digital management system for R&D, significantly enhancing efficiency and quality in innovation management[134]. - The company has established a comprehensive standardized management mechanism for privacy protection, requiring new employees to complete specialized training and pass standardized assessments before obtaining job qualifications[195]. Market Expansion and Sales Strategy - The company expanded its sales channels across all provinces in China, reaching thousands of hospitals and healthcare institutions[12]. - International market expansion included registration and marketing activities in over 30 countries, with successful GMP certification from a PIC/S country[12]. - The company is actively collaborating with domestic pharmaceutical marketing enterprises to boost product sales and fulfill market demands[15]. - The company has established a commercial rights cooperation agreement for CMAB009 with Jiangsu Hengrui Medicine Co., enhancing its market presence in China[18]. - The company is actively expanding its overseas market presence, with registration and expansion efforts initiated in over 30 countries and regions[139]. Quality Management and Compliance - The company has established a quality assurance department to ensure that products and services meet high industry standards, with compliance to GMP management regulations for both manufacturing and R&D operations[60]. - The company has implemented a series of measures to optimize management system construction, enhancing management capabilities and promoting continuous improvement of the quality system[168]. - The company has developed a pollution control strategy management procedure to guide the assessment and formulation of strategies, analyzing various factors against WHO and PIC/S regulatory control points[169]. - The company has established a traceability system and management process for its products, utilizing traceability codes to improve post-market product quality and safety assurance[186]. - The company has established a recall management procedure based on the specifics of adverse reactions or events, conducting regular mock recall drills to ensure the effectiveness of the recall system[186]. ESG and Corporate Governance - The ESG report emphasizes the importance of sustainable development and the integration of ESG principles into the company's strategic planning and daily operations[103]. - The company has established a multi-tier governance structure for ESG management, with the board of directors as the highest decision-making body[104]. - The company is committed to continuously optimizing its governance strategy and fulfilling social responsibilities to promote sustainable development[103]. - The board of directors is responsible for the company's ESG strategy planning, risk management, and major decision-making, ensuring the implementation of ESG objectives[107]. - The company identified and managed significant ESG issues through systematic analysis, enhancing its sustainable development capabilities[112]. Financial Health and Risks - Total liabilities as of December 31, 2024, included lease liabilities of RMB 47.5 million, interest-bearing bank and other borrowings of RMB 245.6 million, and loans from related parties of RMB 18.5 million[87]. - The company's capital structure as of December 31, 2024, consisted of 91.2% debt and 8.8% equity, compared to 80.2% debt and 19.8% equity as of December 31, 2023[90]. - The capital debt ratio as of December 31, 2024, is 91.2%, an increase from 80.2% as of December 31, 2023[92]. - The company faces foreign exchange risks primarily from fluctuations between the Renminbi and other currencies, particularly the Hong Kong Dollar and US Dollar[91]. - The company has not entered into any currency hedging transactions during the reporting period[91].

Company Overview - DIT Group Limited operates 19 self-operated prefabricated construction (PC) plants across China, positioning itself as a leader in the smart building sector[19]. - The Group's services currently cover projects with a total site area of approximately 6 million square meters in China[22]. - DIT Group Limited is recognized as the first listed company in the prefabricated construction industry, emphasizing its innovative high-tech enterprise status[19]. - The Group is dedicated to achieving industrialization, informationalization, and technologicalization in the construction sector during China's 10-year golden era of construction industrialization[21]. - The Company has established several smart production lines, leading the industry in terms of the number of such lines in China[22]. - DIT Group Limited focuses on providing green buildings and one-stop home solutions as part of its strategic mission[21]. Financial Performance - For the year ended December 31, 2024, the Group achieved sales revenue of approximately HK$374.0 million, a year-on-year decrease of approximately 56.9%[34]. - The gross profit totaled approximately HK$9.5 million, representing a year-on-year decrease of approximately 81.0%[34]. - The net loss attributable to the parent company reached HK$464.5 million[34]. - In 2024, the company's revenue decreased by 56.9% to HK$373,990,000, with a gross profit margin of 2.5%, down from 5.8% in 2023[56]. - The net loss for 2024 was HK$494,158,000, representing a 49.6% increase in losses compared to HK$330,234,000 in 2023[56]. - The total assets decreased by 13.3% to HK$5,489,993,000, while total liabilities decreased by 8.1% to HK$3,471,457,000[59]. - The Group's cash and cash equivalents decreased to approximately HK$6.4 million in 2024 from approximately HK$9.3 million in 2023, with a current ratio of 0.7[145]. - Borrowings decreased to approximately HK$1,679.7 million in 2024 from approximately HK$1,727.5 million in 2023, resulting in a net gearing ratio of 86.0%[145]. - The Group's interest payable increased to HK$61.97 million as of December 31, 2024, from HK$12.32 million in the previous year[156]. - The Board does not recommend any dividend payment for the year ended December 31, 2024, consistent with the previous year[158]. Market Position and Strategy - The Group's technologies and products have received wide recognition from clients, indicating strong market acceptance[22]. - The overseas business is expected to be a key growth driver, with significant increases in new contracts under the Belt and Road Initiative[62]. - The Group aims to strengthen its national sales network and factory layout to ensure production capacity and quality in 2025[48]. - The Group aims to increase project profit margins to 18% through the development of the "Hybrid Tower EPC" model in collaboration with partners like Goldwind, targeting the 60GW onshore wind power installation goal by 2025[91][94]. - The Group has been recognized as a top strategic supplier in the real estate industry for seven consecutive years, reflecting its strong market position[87]. Production and Capacity - The Group's production capacity includes 19 PC factories and one prefabricated interior industrial park with a total design capacity of 1.34 million cubic meters[41]. - The output and sales volume of PC units were approximately 145,000 cubic meters and 167,000 cubic meters respectively[41]. - The sales volume of precast concrete (PC) components was approximately 167,000 cubic meters, representing a year-on-year decrease of approximately 43.1%[73]. - The Group's PC factories had a designed production capacity of 1.34 million cubic meters as of December 31, 2024[73]. Innovation and Technology - The Company aims to transform traditional construction methods to a "precast components + on-site assembly" model, enhancing efficiency and sustainability in the construction industry[21]. - The Group's digital management system aims to achieve standardized design, factory manufacturing, and intelligent operation, reducing component production error rates to less than 0.5mm[110]. - The integration of BIM and ERP systems will empower data connectivity across the entire process of design, manufacturing, and construction, improving overall efficiency[111]. - The Group is committed to enhancing R&D in prefabricated building technologies, aiming for breakthroughs in lightweight non-stressed wall panels to improve green building standards[99][105]. - The RIFF system, a new prefabricated construction technology, has been patented and is expected to have significant market prospects and economic benefits[105][107]. Challenges and Future Outlook - The area of newly constructed prefabricated buildings in China amounted to approximately 750 million square meters, representing a year-on-year decrease of 1%[31]. - The construction area in the industry decreased by 10% in 2024, with the new housing construction area down by 23% to 740 million square meters[60]. - The Group plans to promote the digital system in the industry to serve domestic and overseas PC manufacturing plants, leading the transformation of digitization in the construction industry[112]. - The Group aims to explore collaboration opportunities with strategic investors to enhance operational efficiencies and support business expansion[152]. - The Group plans to launch an "old house renovation + prefabricated decoration" package, targeting a conversion rate of 5% among 400,000 property owners[97][100]. Legal and Compliance - As of December 31, 2024, the Group faced litigations totaling approximately RMB 573,612,000 (equivalent to HK$ 619,425,000), an increase from RMB 265,393,000 (equivalent to HK$ 292,863,000) in 2023[179]. - The Group's directors believe that no provision should be made for the estimated liabilities related to the ongoing litigations based on legal counsel advice[179]. - There were no material contingent liabilities reported by the Group as of December 31, 2024[176].

Financial Performance - The company's revenue for the reporting period reached approximately RMB 906.8 million, an increase of about 28.5% compared to the previous year[11]. - The net profit for the reporting period was approximately RMB 51.3 million, reflecting a growth of about 17.7% year-on-year[11]. - The CMS business revenue increased to approximately RMB 575.4 million, representing a growth of about 36.8% from RMB 420.6 million in the previous year[16]. - The OBM business revenue decreased to approximately RMB 25.7 million, a decline of about 65.8% from RMB 75.2 million in the previous year[17]. - The company reported a total comprehensive income attributable to owners of approximately RMB 37.8 million, down from RMB 39.1 million the previous year[13]. - The company's basic earnings per share were approximately RMB 0.10, compared to RMB 0.09 in the previous year[11]. - The wholesale business revenue for 2024 was approximately RMB 305,700,000, an increase of about 45.6% compared to RMB 209,900,000 in 2023[20]. - The sales cost for the reporting period was approximately RMB 765,000,000, representing an increase of about 33.6% from RMB 572,600,000 in 2023[21]. - The gross profit recorded was approximately RMB 141,800,000, an increase of about 6.5% from RMB 133,100,000 in 2023, with a gross margin of 15.6%, down 3.3% from 18.9% in 2023[22]. - The net profit for the period was approximately RMB 51,300,000, an increase of about 17.7% from RMB 43,600,000 in 2023, with a net profit margin decreasing from 6.2% in 2023 to 5.7% in 2024[23]. Strategic Initiatives - The company plans to enhance its strategic customer relationships and expand its domestic market presence while developing high-value-added products[11]. - The company aims to increase its investment in e-commerce channels to boost sales[11]. - The company is exploring potential investment opportunities to enhance competitiveness and synergy[11]. - The group plans to continue upgrading existing production lines to improve automation and product quality, and will invest in the development of aerosol products through its Chinese subsidiaries[52]. - For the fiscal year 2025, the group aims to strengthen supply chain construction, control procurement costs, and enhance R&D capabilities to develop high-value-added products[53]. - The group will continue to expand and develop its sales network and platforms to achieve business growth[52]. Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange regulations, with a commitment to maintaining high standards of corporate governance[55]. - The board of directors emphasizes the importance of corporate culture, focusing on ethical and responsible conduct across all levels of the organization[57]. - The company aims to enhance long-term value for shareholders and stakeholders by focusing on financial performance and environmental, social, and governance (ESG) factors for sustainable growth[58]. - The board is responsible for strategic decision-making and overseeing financial performance, ensuring alignment with the company's long-term goals[59]. - The board consists of three executive directors and three independent non-executive directors, ensuring compliance with listing rules regarding independence and expertise[62]. - The company has adopted a "Director Nomination Procedure" to ensure a transparent and thoughtful process for evaluating and selecting board candidates[68]. - The board's composition reflects a balance of skills and experience necessary for effective leadership and governance, particularly in the aerosol industry[65]. - The company is committed to maintaining high standards of corporate governance and compliance with financial reporting regulations[63]. - The board will propose the reappointment of directors who are eligible and willing to stand for re-election at the upcoming annual general meeting[68]. Environmental, Social, and Governance (ESG) Practices - The company is increasingly aware of its ESG responsibilities and is focused on supporting a transition to a low-carbon and sustainable future[58]. - The board's responsibilities include overseeing business operations, strategy development, and ensuring the company's long-term success[66]. - The company has established a clear governance structure for environmental, social, and governance (ESG) matters, with a dedicated ESG working group consisting of 6 members, including 3 executive directors and 3 independent non-executive directors[149]. - The board of directors has spent significant time assessing the impact of ESG-related risks on operations and developing relevant policies to address these risks[148]. - The company is committed to maintaining high environmental management standards, continuously improving its environmental management system, and has achieved certification compliant with ISO 14001:2015[153]. - The company has implemented various measures to enhance employee environmental awareness and promote environmentally friendly work habits[153]. - The company conducts regular stakeholder engagement to understand their expectations and concerns, which informs better decision-making and impact management[144]. - The company engages in community participation and charitable activities to fulfill its social responsibilities[144]. Climate Change and Risk Management - The company is actively addressing climate-related risks as part of its operational strategy, focusing on the physical impacts of climate change, such as extreme weather events, which are considered operational risks[179]. - The company has established a governance framework to identify, assess, and manage climate-related risks, with oversight from the board of directors[191]. - The company collaborates with government and relevant institutions to stay updated on regulatory and financial policy changes related to climate change[191]. - The company has identified significant climate-related risks that could impact its operations, products, supply chain, and financial planning, and has implemented measures to manage these risks[192]. - The company is exploring various climate scenarios to assess potential impacts on its operations and to identify new risks that may arise from future climate changes[189]. - Transition risks include rising operational costs due to stricter environmental regulations and increased insurance premiums, necessitating significant compliance expenditures[197]. - The company plans to invest in energy-efficient product innovation to mitigate technology risks associated with increased capital and R&D expenditures[199]. - The company is monitoring updates on climate-related environmental policies to avoid unnecessary costs and expenditures[197]. Operational Metrics - Total assets as of December 31, 2024, were approximately RMB 1,694,800,000, an increase from RMB 1,389,000,000 in 2023, with a net current liability of approximately RMB 266,400,000[35]. - Inventory increased by approximately 18.5% to about RMB 57,600,000 from RMB 48,600,000 in 2023, primarily due to expanded production capacity[32]. - Accounts receivable as of December 31, 2024, were approximately RMB 90,100,000, an increase of about 24.4% from RMB 72,400,000 in 2023[33]. - The group employed a total of 486 employees as of December 31, 2024, compared to 423 employees in 2023, with total employee costs amounting to approximately RMB 55,000,000, up from RMB 43,800,000 in 2023[43]. - The total air pollutant emissions for 2024 were 630.68 kg of nitrogen oxides, 78.69 kg of sulfur dioxide, and 16.10 kg of particulate matter, showing an increase from 2023[158]. - The total greenhouse gas emissions for 2024 were 5,296.06 tons of CO2 equivalent, a decrease from 6,965.77 tons in 2023[160]. - The total water consumption in 2024 was 401,312 cubic meters, significantly higher than 175,597 cubic meters in 2023, marking an increase of about 128.5%[174]. - The total packaging materials consumed in 2024 amounted to 16,452.35 tons, up from 14,446.55 tons in 2023, which is an increase of approximately 13.9%[176].

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 23,029,033,000, representing a 1.3% increase from RMB 22,725,317,000 in 2023[6] - Gross profit surged to RMB 2,863,372,000, a significant increase of 95.8% compared to RMB 1,462,615,000 in 2023[6] - The company reported a profit for the year of RMB 588,629,000, a turnaround from a loss of RMB 299,382,000 in 2023[6] - Earnings per share (basic and diluted) improved to RMB 0.60, compared to a loss of RMB 0.41 per share in 2023[6] - The Group's net profit for 2024 was approximately RMB 588.6 million, a significant recovery from a net loss of approximately RMB 299.4 million in the previous year[26] - Profit attributable to shareholders was approximately RMB553.5 million, compared to a loss of approximately RMB375.7 million in the previous year[26] - Basic earnings per share improved to RMB0.60, recovering from a basic loss per share of RMB0.41 in the previous year[26] Assets and Liabilities - Total assets decreased by 8.0% to RMB 20,982,724,000 from RMB 22,811,172,000 in 2023[8] - Total liabilities reduced by 16.9% to RMB 10,845,439,000 from RMB 13,055,814,000 in 2023[8] - The current ratio improved to 1.4 from 1.3 in 2023, indicating better short-term financial health[9] - Net debt to equity ratio decreased to 0.36 from 0.60 in 2023, reflecting a stronger equity position[9] Production and Capacity - The company operates approximately 4.21 million spindles and about 1,650 weaving and knitting machines as of December 31, 2024[11] - The Group's production capacity for knitted garment fabrics decreased significantly due to the sale of a loss-making factory, resulting in a sales volume drop from approximately 15,400 tonnes to approximately 10,900 tonnes and a revenue decline from approximately RMB 797.4 million to approximately RMB 551.6 million[42] - As of December 31, 2024, the Group's production facilities included approximately 4.21 million spindles, with a slight increase in yarn production capacity due to completed construction projects[50][54] Sales and Market Trends - The Group's revenue for the year increased by approximately 1.3% to approximately RMB 23.0 billion, with yarn sales accounting for approximately 77.8% of total revenue, amounting to approximately RMB 17.9 billion, representing a growth of approximately 2.1% compared to last year[35] - Sales volume of yarns grew by approximately 4.0% to approximately 770,000 tonnes, driven by recovering market demand and increased consumer interest in outdoor sports[36] - The textile industry in China saw total sales of approximately RMB2,398.8 billion in 2024, with a year-on-year growth of 3.6%[27] - The total sales of sizeable textile garment and apparel enterprises amounted to approximately RMB1,269.9 billion, representing a year-on-year increase of 2.8%[27] Cost Management - The cost of sales decreased by 5.2% to approximately RMB 20.2 billion in 2024, with raw materials accounting for about 76.1% of the total cost[72] - Selling and distribution costs for the year ended December 31, 2024, amounted to approximately RMB 650.1 million, representing an 11.0% decrease compared to 2023[77] - General and administrative expenses for the year ended December 31, 2024, were approximately RMB 1.156 billion, a decrease of 2.0% compared to 2023, accounting for 5.0% of the Group's revenue[78] Strategic Initiatives - The Group plans to continue its product differentiation strategy and focus on innovation to solidify its market position[22] - Strict control over capital expenditures will be maintained to ensure efficient utilization of financial resources[22] - The Group aims to enhance production efficiency and product quality through technological upgrades and modern intelligent manufacturing[22] - The Group is actively responding to market demand by leading the research and development of products that meet market needs[36] Risk Management - The Group faces significant risks including business and product concentration, which could adversely affect profitability if market trends shift or competition intensifies[117] - Cotton price fluctuations pose a risk to the Group's gross profit margin, as cotton is a major production material and its price may not align with end-product prices[119] - Foreign exchange and interest rate fluctuations could lead to material losses and increased financing costs, particularly with intensified USD/RMB exchange rate volatility[121] - The Group is implementing measures to mitigate risks associated with cotton price fluctuations, including stable procurement strategies and diversifying into synthetic fiber products[123] Corporate Governance - The Group is committed to maintaining high levels of corporate governance, with a Board comprising three executive Directors and three independent non-executive Directors[161] - The Board has mechanisms in place to ensure independent views, including regular meetings with independent non-executive Directors[163] - The company has adopted a Securities Code for directors' transactions, ensuring compliance with the Model Code[177] - The company has established a Remuneration Committee, Audit Committee, Nomination Committee, and ESG Committee, each with specific written terms of reference[190]

Financial Performance - The Group's revenue increased by 11.1% or RMB 281.2 million to RMB 2,821.3 million for the Reporting Period (2023: RMB 2,540.1 million) driven mainly by increased sales volume of human albumin solution[13] - Gross profit decreased by RMB 23.4 million to RMB 299.9 million, with a gross profit margin decline from 12.7% in 2023 to 10.6% due to rising costs outpacing revenue growth[13] - Net profit for the Group was RMB 42.0 million, a slight decrease of RMB 0.4 million compared to RMB 42.4 million in 2023, representing a 0.9% decline[13] - Basic and diluted earnings per share remained at RMB 0.02 for the Reporting Period, unchanged from 2023[13] - Profit before tax for the Reporting Period was RMB 98.9 million, slightly down from RMB 99.9 million in 2023[14] - The net profit margin for the year was 1.5%, down from 1.7% in 2023[14] - Revenue from sales of human albumin solution increased by approximately RMB 276.5 million, primarily due to higher sales volume[13] - Revenue from human albumin solution reached RMB2,782.7 million, an increase of approximately 11.0% or RMB257.6 million compared to 2023[40] - Revenue from medical beauty services amounted to RMB28.7 million, representing a growth of approximately 10.8% or RMB2.8 million compared to 2023[40] - Cost of sales increased to RMB2,521.4 million, up RMB304.6 million or 13.7% from RMB2,216.8 million in 2023[41] - Gross profit decreased to RMB299.9 million, down RMB23.4 million from RMB323.3 million in 2023, resulting in a gross profit margin decline from 12.7% to 10.6%[42] Dividends and Shareholder Information - The Board proposed a final dividend of HK$0.20 cents per ordinary share, totaling HK$4,000,000, down from HK$8,000,000 in 2023[13] - The final dividend declared for the year ended December 31, 2024, is HK$0.20 per ordinary share, totaling HK$4,000,000, a decrease from HK$8,000,000 in 2023[187] - The annual general meeting is scheduled for May 15, 2025, where shareholders will vote on the proposed final dividend[188] - The final dividend will be paid on or around June 3, 2025, subject to shareholder approval at the AGM[196] - The record date for entitlement to the final dividend is May 23, 2025[200] Assets and Liabilities - The Group's total assets increased from RMB1,424,333 thousand in 2022 to RMB1,890,678 thousand in 2023, reflecting a growth of 32.7%[18] - The total equity attributable to owners rose from RMB603,812 thousand in 2022 to RMB628,052 thousand in 2023, an increase of 4.0%[18] - The Group's cash and cash equivalents were RMB657,948 thousand in 2023, projected to decrease to RMB411,377 thousand in 2024[18] - Trade receivables decreased slightly to RMB509.7 million, down RMB26.3 million or 4.9% from RMB536.0 million in 2023[58] - Trade payables and bills payable as of December 31, 2024, totaled RMB 888.0 million, reflecting an increase of RMB 21.4 million from RMB 866.6 million as of December 31, 2023, mainly due to increased payables for human albumin injections[70] - The Group's total borrowings as of December 31, 2024, amounted to RMB 340.9 million, up from RMB 241.7 million in 2023, with current bank loans increasing to RMB 340.9 million from RMB 240.9 million[73] - The gearing ratio at the end of the reporting period was 57.5%, up from 47.2% in 2023, indicating an increase in the proportion of debt relative to equity[75] Operational Highlights - The annual batch release volume of human albumin reached 83.2 million bottles in 2024, representing a year-on-year increase of 6.5%[23] - The market share of imported albumin increased to 68.3% in 2024, enhancing the Group's industry influence and market share in this segment[23] - The Group's cold chain storage facilities in Chengdu officially commenced operations in 2024, significantly enhancing storage and distribution capacity[30] - The first phase of the cold chain storage facilities in Chengdu has commenced full operation, occupying 15,000 square meters, with a Phase II expansion expected to add 18,000 square meters by 2025[107] - The introduction of a digital supply chain system has improved operational efficiency and reduced logistics costs[108] Research and Development - The Group plans to deepen its investment in research and development for new medical aesthetic products while advancing the commercialization of existing projects[29] - The Girl Needle project is expected to complete clinical trials in the fourth quarter of 2025, indicating ongoing innovation in medical aesthetic products[28] - The Group's R&D efforts include advancing the Girl Needle project, with clinical trials expected to complete in Q4 2025[109] Management and Governance - The company has a diverse leadership team with extensive experience in pharmaceuticals, finance, and human resources management[151][153][158][160][164] - The Company has a strong management team with diverse backgrounds in finance, pharmaceuticals, and technical consulting[173][177][171][178] - The management team is committed to driving innovation and product development in the pharmaceutical sector[173][178] - The Company aims to expand its market presence and improve operational efficiency through strategic management[173][178] Market Strategy - The Group aims to optimize its market layout and strengthen its marketing network, particularly in second- and third-tier cities[24] - The Group aims to enhance market coverage of human albumin by deepening cooperation with major medical institutions and optimizing supply chain management[114] - The Group is focused on commercializing core products like Girl Needle and expanding into international markets, particularly Southeast Asia[115] - The Group intends to accelerate the commercialization of key medical aesthetic products, particularly in high-end markets in major domestic cities, while expanding into Southeast Asia[118] Corporate Social Responsibility - The Group is committed to corporate social responsibility, supporting public welfare and contributing to the healthcare industry[117][119] - The Group has not incurred any material costs for compliance with environmental laws during the reporting period[135] Risk Management - The Group is focused on risk management, identifying potential risks such as supplier relationships and exchange rate fluctuations[127][128] - The Group's largest supplier accounted for 99.78% of total products purchased during the Reporting Period, indicating a high dependency on a single supplier[198]

Financial Performance - The consolidated loss for the year increased by approximately 25% compared to the same period in 2023, primarily due to the downturn in the property market in China [6]. - The company reported a loss from continuing operations of HKD 80,095,000 for the year ended December 31, 2024, compared to a loss of HKD 64,262,000 in 2023, representing a 24.5% increase in losses year-over-year [57]. - The company reported a significant focus on investment holding, with subsidiaries engaged in manufacturing and trading of prestressed high-strength concrete piles, ready-mixed concrete, autoclaved aerated concrete products, and ecological permeable concrete products [38]. - The company reported a total comprehensive loss of HKD 63,698,000 for the year ended December 31, 2024, compared to a loss of HKD 47,824,000 in the previous year, reflecting an increase in losses of approximately 33% [158]. - The company reported a net loss of HKD 80,095,000 for 2024, compared to a net loss of HKD 64,262,000 in 2023, indicating a deterioration in financial performance [152]. Revenue and Growth - Revenue from external customers in the construction materials business was HKD 256,385,000, representing a growth of about 4% from HKD 246,531,000 in the previous year [10]. - Revenue for the year ended December 31, 2024, was HKD 256,385,000, an increase of 3.4% from HKD 246,531,000 in 2023 [152]. - Gross profit for 2024 was HKD 43,832,000, up from HKD 37,556,000 in 2023, reflecting a gross margin improvement [152]. Assets and Liabilities - Total assets decreased to HKD 281,117,000 in 2024 from HKD 330,938,000 in 2023, reflecting a decline of approximately 15% [58]. - The company's total liabilities increased to HKD 202,375,000 in 2024, up from HKD 195,264,000 in 2023, indicating a rise of about 5.7% [58]. - The net asset value dropped to HKD 78,742,000 in 2024, down from HKD 135,674,000 in 2023, a decrease of approximately 42% [58]. - Current liabilities exceeded current assets by approximately HKD 33,863,000 as of December 31, 2024 [167]. Cash Flow and Financing - The group reported a net cash outflow from operating activities of about HKD 13,062,000 for the year ending December 31, 2024 [165]. - Cash and cash equivalents decreased by HKD 16,687,000 in 2024, compared to an increase of HKD 21,704,000 in 2023, indicating a shift in liquidity position [160]. - The company issued new shares raising HKD 3,592,000 and convertible notes raising HKD 30,000,000 during the year, enhancing its capital structure [160]. - The group plans to implement rigorous cost control measures to enhance operational efficiency and improve future cash flow [169]. Shareholder and Equity Information - As of December 31, 2024, the equity attributable to owners of the company was HKD 62,007,000, a decrease of approximately 33% compared to the previous year [13]. - The company’s total equity attributable to owners decreased to HKD 62,007,000 as of December 31, 2024, down from HKD 91,961,000 at the beginning of the year, indicating a decline in shareholder value [158]. - The board does not recommend a final dividend for the fiscal year [44]. Risk Management and Compliance - The company is exposed to foreign exchange risks due to its assets and liabilities being primarily denominated in Renminbi and Hong Kong dollars, with management actively monitoring these risks [23]. - The company has complied with relevant laws and regulations in its operations in China and Hong Kong, with no significant violations reported [61]. - The company has adopted a zero-tolerance policy towards bribery and corruption, ensuring all business dealings are conducted with integrity and professionalism [112]. Corporate Governance - The board consists of one executive director, one non-executive director, and three independent non-executive directors as of December 31, 2024 [92]. - The audit committee has reviewed the financial statements for the year ending December 31, 2024, confirming compliance with applicable accounting standards and regulations [80]. - All independent non-executive directors have confirmed their independence according to the listing rules, possessing appropriate professional qualifications or financial management expertise [94]. Internal Controls and Audit - The internal control and risk management systems are designed to manage risks rather than eliminate them, ensuring the reliability of financial reporting and compliance with laws [105]. - The audit committee has reviewed the effectiveness of the risk management and internal control systems, concluding they are sufficient and effective [109]. - The company plans to enhance its internal controls and audit procedures to address risks of material misstatement in financial reporting [149]. Future Outlook - The company anticipates that infrastructure investment will continue to be a pillar for economic recovery in China, benefiting its business operations [6]. - The company anticipates positive impacts on the construction materials industry in Guangdong Province, benefiting from local GDP growth and trade volume increases [27]. - The company aims for local GDP growth of around 5% and plans to focus on green energy, commercial aerospace, and other strategic areas [28].

Financial Performance - The company reported a revenue of approximately RMB 3,862.0 million for the year ended December 31, 2024, representing a 20.0% increase compared to RMB 3,217.7 million in 2023[12]. - Gross profit for the same period was approximately RMB 391.0 million, up 16.0% from RMB 337.0 million in 2023[12]. - The net profit attributable to the company's owners was approximately RMB 12.8 million, significantly increasing from RMB 2.7 million in 2023, resulting in a basic earnings per share of RMB 0.014[14]. - Total assets as of December 31, 2024, reached RMB 2,046.5 million, compared to RMB 1,742.4 million in 2023, marking a growth of 17.5%[7]. - Total liabilities increased to RMB 1,424.9 million in 2024 from RMB 1,160.9 million in 2023, reflecting a rise of 22.7%[7]. - The company recorded a profit of approximately RMB 12.9 million for the year ending December 31, 2024, compared to a profit of approximately RMB 2.7 million for the year ended December 31, 2023, reflecting the impact of the aforementioned fluctuations[59]. - Sales cost increased from approximately RMB 2,880.7 million to RMB 3,470.9 million, primarily due to rising raw material costs and increased production costs[48]. - Gross profit rose from approximately RMB 336.98 million to RMB 391.02 million, while overall gross margin decreased from 10.5% to 10.1%[49][50]. - Other income increased from approximately RMB 21.4 million to 28.0 million, mainly due to additional VAT credits and government subsidies[51]. - The company recorded a net loss of approximately RMB 7.1 million in other income and losses for the year ending December 31, 2024, compared to a net gain of RMB 2.7 million in 2023[53]. Business Expansion and Strategy - The company expanded its business scope by launching three new divisions, aiming to better meet market demands and industry trends[13]. - The company successfully entered new markets for cashew phenol products, significantly increasing sales and gross profit[14]. - The company has established a new upstream methylamine plant to support the production of choline chloride, enhancing its market share[14]. - The strategic procurement and expansion plans have led to a notable increase in gross profit and profitability, particularly in the methylamine and green products divisions[14]. - The company is actively exploring international markets and optimizing its global supply chain to improve operational efficiency[14]. - The company plans to establish three new divisions to extend its business scope, bringing the total to seven major business segments[23]. - The company is actively pursuing international market expansion through strategic investments and partnerships[29]. - The company is focusing on optimizing its product structure and enhancing operational efficiency to adapt to market dynamics[28]. Revenue Breakdown - The methylamine industry series accounted for approximately 35.2% of total revenue, with segment revenue reaching RMB 1,359.1 million, an increase of 28.2% year-on-year[15]. - Revenue from green products, primarily cashew phenol, grew by 53.7% to approximately RMB 200.4 million, driven by strategic adjustments in sales targeting higher-margin regions[15]. - Revenue from iodine derivatives and related products reached approximately RMB 991.9 million, a 39.6% increase, representing 25.7% of total revenue[15]. - Revenue from the methylamine industry segment grew by 28.2% to RMB 1,359.1 million, primarily due to the operation of a new upstream methylamine facility[31]. - The green products segment saw revenue rise by 53.7% to RMB 200.4 million, with gross profit increasing by 97.2% to RMB 33.5 million, aided by market expansion in Europe[31]. - Revenue from the iodine derivatives segment increased by 39.6% to RMB 991.9 million, with gross profit rising by 84.1% to RMB 73.1 million, influenced by supply constraints from Chile[31]. Capital and Financing - The net proceeds from a capital increase transaction amounted to approximately RMB 36.4 million, primarily allocated for debt repayment[20]. - A successful placement generated net proceeds of approximately RMB 22.2 million, intended for working capital to optimize liquidity[20]. - The company plans to acquire land in Tai'an, Shandong Province, for RMB 10 million to expand production capacity for downstream products, expecting an additional capacity of 120,000 tons[61]. - The company successfully completed a placement of 9,500,000 shares at a price of HKD 2.6 per share, raising approximately HKD 24,311,000 net of expenses, which will be used for general working capital[64]. - As of December 31, 2024, the entire net proceeds of HKD 24,311,000 have been utilized as planned for general operating funds[64]. - The company's capital expenditure for the year amounted to approximately RMB 121.8 million, a decrease from RMB 153.4 million in 2023[77]. - The company's capital commitments as of December 31, 2024, were approximately RMB 17.9 million, down from RMB 20.1 million in 2023[78]. Employee and Governance - The company has a total of 1,120 employees as of December 31, 2024, compared to 1,098 employees in 2023[83]. - The total employee cost (including director remuneration) was approximately RMB 141.5 million, an increase from RMB 135.8 million in 2023[83]. - The board has resolved not to recommend any final dividend for the year ending December 31, 2024, similar to 2023[81]. - The company has adopted key corporate governance practices as detailed in the annual report[161]. - The company emphasizes the importance of maintaining high standards of corporate governance and internal controls[168]. - The board is responsible for overseeing the company's business strategies and performance, retaining decision-making authority on significant matters[169]. - The company encourages diversity in the board's composition, considering various factors such as gender, age, and professional experience[188]. Risk Management - The company faces various risks including market risk, credit risk, and liquidity risk, which could impact its financial condition and operational performance[65]. - The company maintains a prudent treasury policy to ensure a healthy liquidity position throughout the year[75]. - The company aims to manage interest rate risk by monitoring its exposure and considering hedging when necessary[70]. - The group’s risk management policies address various risks, including market risk, credit risk, and liquidity risk, as outlined in the annual report[108]. Market and Economic Outlook - The anticipated structural adjustment in supply and demand dynamics in 2025 is expected to stabilize market conditions and stimulate end-market demand[18]. - The outlook for 2025 anticipates a stable supply-demand balance in the industry, with potential moderate recovery in downstream demand supported by macroeconomic policies[61]. - Revenue from Europe, Asia (excluding mainland China and Vietnam), and Vietnam increased significantly, indicating successful market recovery efforts[47].