Financial Performance - Total revenue for the year reached RMB 13,577 million, representing a growth of 6.5%[8] - Operating profit amounted to RMB 1,966 million, an increase of 9.3%[8] - Profit attributable to ordinary equity holders was RMB 1,238 million, reflecting a growth of 20.2%[8] - Revenue for 2024 reached RMB 13,577.2 million, a 6.6% increase from RMB 12,742.9 million in 2023[27] - Gross profit for 2024 was RMB 5,865.4 million, reflecting a gross margin of 43.2%, up from 41.8% in 2023[27] - Operating profit increased to RMB 1,965.5 million, with an operating margin of 14.5%, compared to 14.1% in the previous year[27] - Net profit attributable to equity holders was RMB 1,238.4 million, resulting in basic earnings per share of RMB 48.67, up from RMB 40.76 in 2023[27] - The group reported a loss from discontinued operations of RMB 67.1 million, a significant reduction from RMB 224.3 million in 2023[145] - The net profit attributable to equity holders increased by RMB 208.4 million or 20.2% to RMB 1,238.4 million, with a net profit margin improving to 9.1% from 8.1%[146] Dividends and Payouts - The final dividend per share declared was 9.5 HK cents, with a full-year payout ratio of 138.2%[8][9] - The company declared a final dividend of HKD 0.095 per share, with a total annual dividend payout ratio of 138.2%, significantly up from 50.0% in 2023[32] - Total dividends for 2024 amount to HKD 0.698, a significant increase from HKD 0.217 in 2023, representing a payout ratio of 138.2%[149] - The company maintained a high dividend payout ratio of no less than 50% over the past five years, demonstrating a commitment to shareholder returns[150] Strategic Initiatives - The company completed the strategic sale of K•SWISS and Palladium, focusing resources on the main brand, Saucony, and Merrell[23] - The company plans to leverage government economic stimulus measures to boost market confidence and consumer demand[31] - The company plans to strengthen its direct-to-consumer (DTC) strategy to enhance brand loyalty and operational efficiency, optimizing retail channel structures for better market insights[108] - The company is expanding its market presence with new flagship and concept stores, enhancing customer experience and brand visibility[89] Brand Performance - Retail sales for the main brand and Saucony recorded high single-digit and over 60% growth, respectively, indicating strong market performance[31] - Saucony, a brand under the group, achieved over RMB 1 billion in revenue for the first time in 2024, marking a significant milestone[37] - The professional sports division, Saucony, achieved revenue of RMB 1,250.3 million in 2024, a year-on-year increase of 57.2%[88] - Saucony's operating profit increased significantly to RMB 78.2 million in 2024, compared to RMB 8.4 million in 2023[88] Market Trends and Opportunities - The outdoor sports market in China presents growth opportunities for the brand Maile, which is actively expanding its e-commerce business[38] - The number of marathons held in China reached 671 in 2024, with participation exceeding 6.56 million, indicating a strong running trend[41] - E-commerce in China saw a significant recovery, with the logistics index reaching 113.7 points, a 3.6-point increase from the previous year[43] - The group anticipates steady growth in sports goods demand, supported by government measures to stimulate consumption[109] Operational Efficiency - The average inventory turnover days improved to 68 days in 2024, down from 90 days in 2023, enhancing operational efficiency[27] - The overall working capital turnover days increased to 87 days in 2024 from 83 days in 2023[151] - Inventory turnover days decreased by 22 days to 68 days in 2024, while trade receivables turnover days increased by 14 days to 120 days[159] Research and Development - Research and development expenses accounted for 2.9% of revenue, slightly down from 3.1% in 2023, reflecting a focus on cost management[27] - The new running shoe technology incorporates PISA supercritical foam for high rebound and cushioning, significantly reducing energy loss compared to traditional materials[77] Community Engagement and CSR - The company donated over RMB 58 million in sports goods and cash in 2024, including RMB 10 million in winter supplies for earthquake relief in Tibet[98] - The company provided over 710,000 hours of training to employees through its talent center, focusing on professional skills, leadership, and cultural operations[106] Investor Relations - The company actively communicated with investors to restore confidence amid macroeconomic uncertainties, enhancing transparency and two-way communication[178] - The company participated in 350 investor meetings throughout the year, including both online and offline events across North America, Europe, and Asia-Pacific[184] Future Outlook - Future outlook remains positive with expectations of stable growth in the sports industry driven by increased health awareness and sports demand[31] - The company plans to continue expanding its market presence and enhancing its retail management capabilities[179]

Revenue Performance - For the fiscal year ending December 31, 2024, the group's total revenue was approximately HKD 40.54 million, a decrease of 42.8% compared to HKD 70.96 million in 2023[5]. - Revenue from mobile application development and settlement services was HKD 8.99 million, down from HKD 49.38 million in the previous year, indicating a significant decline of 81.8%[5][6]. - Revenue from beauty, computer, and mobile-related electronic products and services increased to HKD 31.56 million, up 46.3% from HKD 21.58 million in 2023[5][7]. Product Focus - Approximately 86.8% of the electronic products sold were beauty-related, primarily supplied to seven leading medical beauty service providers in Hong Kong[7]. - The group plans to continue focusing on the design and distribution of beauty-related electronic products in 2025 due to strong business growth[7]. Management and Expertise - The management team has over 20 years of experience in IT software and application development, enhancing the group's capability in project-based services[6]. - The group is recognized for its expertise in designing and installing high-quality interactive projection mapping systems, enhancing its market presence[6]. Strategic Changes - The group has terminated its loss-making settlement application services to concentrate on software and application development and consulting services[6]. Governance and Compliance - The audit committee has reviewed the accounting principles and practices adopted by the group, ensuring compliance and risk management[8]. - The board of directors remains unchanged, with key members including Executive Director Lin Zhi Jia and independent non-executive directors[12].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 13,051.7 million, a decrease of 6.3% compared to RMB 13,926.5 million in 2023[7] - Adjusted comparable EBITDA for 2024 was RMB 1,952.3 million, down 11.9% from RMB 2,215.5 million in 2023, with an adjusted EBITDA margin of 15.0%, a decline of 0.9 percentage points[7] - The company reported a net loss of RMB 53.7 million for 2024, a significant decline of 109.2% compared to a net profit of RMB 581.8 million in 2023[7] - Gross profit for the year ended December 31, 2024, was RMB 7,915.5 million, a decrease of 4.6% from the previous year, while the gross margin slightly increased from 59.6% to 60.6%[54] - The total EBITDA for the year ended December 31, 2024, was RMB 1,405.8 million, down 29.2% from RMB 1,984.9 million in the previous year[63] - The adjusted comparable net profit for the year ended December 31, 2024, was RMB 541.2 million, a decrease from RMB 778.3 million in 2023[72] Revenue Breakdown - Revenue from nutritional supplements accounted for 67.7% of total revenue, with double-digit growth in vitamins, herbal, and mineral supplements, as well as pet supplements[17] - The infant formula segment faced challenges but continued to expand market share, contributing to the overall revenue despite a contraction in the ultra-premium segment[17] - Revenue from North America represented 12.4% of total revenue, supported by successful distribution expansion in the pet nutrition segment[17] - Revenue from the adult nutrition and care products segment in mainland China grew by 6.9% year-on-year, contributing 64.7% to the total revenue of this segment[44] - The revenue from the infant nutrition and care products segment was RMB 4,003.9 million, down 27.3% year-on-year, primarily due to a decline in infant formula sales[46] - Revenue from the pet nutrition and care products segment in mainland China decreased by 14.8% to RMB 345.8 million, attributed to product portfolio upgrades and channel optimization[47] Market Performance - The adult nutrition and care products business recorded high single-digit growth, driven by continuous product innovation and demand in core markets[19] - The infant nutrition and care products segment faced challenges, with the ultra-premium infant formula market contracting by 17.7% in 2024, although Biostime's market share increased from 12.4% to 13.3%[26] - Swisse maintained its position as the number one brand in the online vitamin, herbal, and mineral supplement market in mainland China for 2024[22] - The company achieved significant growth in various Asian markets, including Hong Kong, Thailand, and Malaysia, with Swisse being awarded the Trusted Brand (Gold) in Singapore[25] - Swisse's gummy series holds a 17.2% market share in Australia, ranking second in the vitamin, herbal, and mineral supplement market[22] Dividends and Financial Strategy - The company announced a total dividend of HKD 0.35 per share for the year, reflecting a cautious approach to leverage reduction[18] - The board recommends a final dividend of HKD 0.05 per share, leading to a total annual dividend of HKD 0.35 per share, which represents approximately 37.6% of the adjusted comparable net profit for the year ended December 31, 2024[82] - The company aims to further reduce leverage ratios and strengthen financial stability in the coming years[36] Corporate Governance - The company emphasizes high standards of corporate governance to enhance shareholder value and accountability[102] - The company has complied with all provisions of the corporate governance code as of December 31, 2024[102] - The board consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[110] - The board has established four committees: Nomination Committee, Audit Committee, Remuneration Committee, and Environmental, Social and Governance Committee[110] - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with regulatory standards[104] Risk Management - The company has established a robust risk management framework based on the COSO risk management framework and ISO 31000, which defines roles, responsibilities, and processes for risk management[177] - The board of directors is responsible for overseeing the risk management and internal control systems, ensuring they are effective in managing risks to achieve business objectives[175] - The audit committee assists the board in supervising the design, implementation, and monitoring of the risk management and internal control systems[176] Management Team - The management team has extensive experience, with the chairman having over 25 years in the biotechnology industry[83] - The CFO has over 25 years of financial management experience, previously serving as the global VP and CFO for Henkel AG & Co. KGaA[84] - Dr. Zhang, a non-executive director, has over 20 years of experience in the biotechnology industry, previously serving as CTO and GM of various subsidiaries[86] Shareholder Engagement - The company has established a shareholder communication policy to facilitate effective communication with shareholders and encourage active engagement[195] - The company participated in 16 investment seminars and non-deal roadshows, conducting approximately 500 individual and group meetings with analysts, institutional investors, and fund managers during the year ending December 31, 2024[189]

Corporate Governance - Champion Alliance International Holdings Limited is a publicly listed company registered in the Cayman Islands with stock code 1629[2] - The company has adhered to all applicable corporate governance codes as per the listing rules up to the fiscal year ending December 31, 2024[2] - The board of directors emphasizes the importance of good corporate governance standards and internal procedures for accountability and enhancing shareholder value[2]

Financial Performance - The company's undistributed profits at the beginning of 2024 amounted to CNY 44,765,270,000, with a net profit of CNY 13,788,371,000 for the year, resulting in a total distributable profit of CNY 51,364,222,000 at year-end [2]. - The company's operating revenue for 2024 was CNY 1,067,171,337, a decrease of 6.22% compared to CNY 1,137,993,486 in 2023 [22]. - Net profit attributable to shareholders for 2024 was CNY 22,215,074, down 14.87% from CNY 26,096,971 in 2023 [22]. - The net cash flow from operating activities for 2024 was CNY -31,423,832, compared to CNY 20,412,048 in 2023, indicating a significant decline [22]. - The total assets at the end of 2024 reached CNY 1,862,842,522, reflecting a 12.02% increase from CNY 1,663,019,578 in 2023 [22]. - The net assets attributable to shareholders increased by 5.94% to CNY 328,251,080 at the end of 2024, up from CNY 309,837,517 in 2023 [22]. - Basic earnings per share for 2024 were CNY 1.46, a decrease of 15.61% from CNY 1.73 in 2023 [23]. - The weighted average return on equity for 2024 was 7.69%, down 2.11 percentage points from 9.80% in 2023 [23]. - The company reported a quarterly operating revenue of CNY 309,046,217 in Q4 2024, with a net profit of CNY 6,519,635 attributable to shareholders [27]. - The net cash flow from operating activities in Q4 2024 was CNY 57,594,170, a significant recovery from previous quarters [27]. Dividends and Profit Distribution - A cash dividend of CNY 3.00 per 10 shares (including tax) will be distributed, totaling CNY 4,073,862,000, which accounts for 20.60% of the distributable profits attributable to ordinary shareholders [2]. - The company plans to maintain the total distribution amount unchanged, adjusting the per-share distribution ratio if there are changes in the total share capital before the equity distribution registration date [2]. Awards and Recognition - The company has received a total of 90 national science and technology awards and 593 national quality engineering awards, including 52 gold awards [11]. - The company is ranked 43rd in the 2024 Fortune Global 500, marking its 19th consecutive year on the list [10]. Strategic Goals and Development - The company aims to enhance its core competitiveness and accelerate its transformation towards high-end, intelligent, green, refined, digital, and international development [11]. - The company plans to continue focusing on market expansion and new technology development to enhance future performance [22]. - The company aims to achieve a stable development while enhancing its value creation capabilities, in line with the requirements set by the State-owned Assets Supervision and Administration Commission [38]. - The company is focusing on the development of new infrastructure, new materials, and new energy sectors as part of its strategic expansion [34]. - The company is actively engaging in strategic emerging industries such as new infrastructure, new equipment, and new materials, enhancing its asset operation capabilities [57]. - The company has established a technology innovation system, launching multiple research institutes to drive advancements in green technology and high-end equipment [37]. - The company plans to deepen reforms and improve its governance structure, emphasizing a performance-based approach to personnel management [35]. Risk Management - Major risks faced by the company include investment risks, project management risks, debt financing risks, international operation risks, and safety risks [2]. - The company is committed to maintaining a bottom-line thinking approach to risk management, ensuring no major risks occur during its operations [38]. - The company identified major risks including investment risks, project management risks, debt funding risks, international operation risks, and safety risks, and is enhancing its risk management framework [199]. - The company is enhancing risk assessment and management in response to the shift towards high-quality economic development, focusing on strict regulatory compliance [200]. Research and Development - The total number of patents held by the company has reached 40,638 [11]. - The company completed three key core technology R&D tasks and was approved as a source of original technology for central enterprises, with 7,740 new patents granted in the year, including 2,696 invention patents, a year-on-year increase of 34% [45]. - The total R&D investment accounted for 2.41% of operating revenue in 2024 [105]. - The number of R&D personnel was 29,086, accounting for 11.02% of the total workforce [106]. Contracting and Project Management - The total amount of new contracts signed in 2024 reached CNY 30,369.678 billion, marking the third consecutive year of exceeding CNY 30 trillion, with overseas contracts amounting to CNY 3,119.779 billion, a year-on-year increase of 23.39% [40]. - The total new contracts signed by the company in 2024 amounted to CNY 3,036.968 billion, achieving 101.20% of the annual plan, but representing a year-on-year decrease of 7.80% [61]. - The infrastructure construction projects, including engineering contracting and green environmental protection, totaled CNY 2,645.3981 billion, accounting for 87.11% of the total new contracts, with a year-on-year decrease of 7.29% [63]. - The company reported a total of 7,679 new signed projects during the reporting period, with a total value of CNY 26,453.981 million [153]. Financial Position and Liabilities - The total liabilities, including short-term and long-term borrowings, resulted in a leverage ratio of 71% as of December 31, 2024, compared to 67% in the previous year [140]. - The company's total financial liabilities amounted to 1,220,826,050, reflecting a comprehensive financial strategy [124]. - Short-term borrowings rose by 83.46% from 81,839,758 to 150,142,693, mainly to supplement working capital [119]. - Long-term borrowings increased by 42.24% from 197,826,997 to 281,386,136, primarily for funding PPP and BOT project investments [119]. Market and Industry Trends - The real estate market saw a 12.9% year-on-year decline in new residential sales area, with total sales amounting to 9.7 trillion yuan, down 17.1% year-on-year [51]. - The green environmental protection industry is expected to benefit from national policies aimed at accelerating green transformation, with a focus on carbon neutrality and energy efficiency [54]. - The logistics industry is experiencing a decline in overall demand for construction materials, with performance falling below expectations [53]. - The industrial manufacturing sector is focusing on high-end equipment manufacturing, with a steady increase in core equipment supply capacity and accelerated localization of major technical equipment [52]. Future Outlook - The 2025 operational plan includes a new contract signing target of 3.06 trillion CNY and a revenue target of 1.0725 trillion CNY, with costs and taxes estimated at 1.0312 trillion CNY [199]. - Future outlook remains positive with expectations of continued profitability and asset growth across subsidiaries [192]. - The company aims to maintain its current business and meet funding needs for ongoing projects through self-funding, new share issuance, bank loans, and bond issuance [199].

Financial Performance - For the fiscal year ending December 31, 2024, the company recorded a net loss of approximately HKD 2.0 million, a significant reduction from a net loss of approximately HKD 32.9 million in the same period of 2023[8]. - The group's revenue decreased by approximately 65.7% from about HKD 108.8 million for the year ended December 31, 2023, to about HKD 37.3 million for the year ended December 31, 2024[16]. - Revenue from game operations and publishing dropped from approximately HKD 40.5 million (37.3%) in 2023 to about HKD 8.8 million (23.7%) in 2024, a decrease of about 78.7%[17]. - Software service revenue fell from approximately HKD 67.4 million (61.9%) in 2023 to about HKD 28.5 million (76.3%) in 2024, a reduction of about 57.7%[18]. - The company recorded a loss of approximately HKD 2.0 million for the year ended December 31, 2024, compared to a loss of about HKD 32.9 million in 2023[25]. - Total revenue for the year ended December 31, 2024, was HKD 37.298 million, a decrease of 65.7% compared to HKD 108.816 million in 2023[192]. - The company reported a loss before tax of HKD 1.813 million for the year ended December 31, 2024, compared to a loss of HKD 32.919 million in 2023[192]. Cost Management - Sales expenses decreased by approximately 91.7%, from about HKD 17.9 million for the fiscal year ending December 31, 2023, to approximately HKD 1.5 million for the fiscal year ending December 31, 2024[8]. - Administrative expenses were reduced by approximately 62.3%, from about HKD 28.4 million for the fiscal year ending December 31, 2023, to approximately HKD 10.7 million for the fiscal year ending December 31, 2024[8]. - The cost of services provided decreased by approximately 71.3% from about HKD 94.7 million in 2023 to about HKD 27.2 million in 2024[19]. - Other losses decreased by approximately 99.3% from about HKD 5.6 million in 2023 to about HKD 0.04 million in 2024[22]. - Total employee cost for the year ended December 31, 2024, was approximately HKD 1.0 million, a decrease from approximately HKD 24.3 million for the year ended December 31, 2023[50]. Corporate Governance - The board of directors emphasizes the importance of maintaining high levels of corporate governance to build trust with shareholders and stakeholders[68]. - The company has adopted anti-bribery and anti-corruption policies since 2019, which include guidelines on gifts, hospitality, and reporting mechanisms for suspected corruption[69]. - The board conducts annual assessments of the independence of non-executive directors to ensure independent opinions and recommendations[70]. - The company has established a corporate culture aligned with its vision, values, and business strategy, which is crucial for sustainable development[75]. - The company has adopted a shareholder communication policy since 2019 to maintain effective dialogue with shareholders[70]. - The board's diversity policy has been in place since 2019 and is reviewed annually by the nomination committee[72]. - The company complies with the GEM listing rules and has implemented most of the new corporate governance regulations introduced in 2022[69]. - The board of directors is responsible for overseeing the company's business management and ensuring alignment with shareholder interests, while also monitoring business performance and approving financial statements[79]. Risk Management - The company faces significant risks including intense competition in the mobile gaming industry and rapid technological changes that could render its games outdated[14]. - The company emphasizes the importance of risk management to effectively mitigate operational and financial risks[14]. - The risk management framework established in 2016 is regularly reviewed to ensure effective internal controls and risk management[135]. - The group maintains a risk register to track identified major risks and actions taken to mitigate them, updated at least annually[136]. - The internal audit department reviews key operational processes to ensure compliance with risk management policies[137]. Shareholder and Board Matters - The company will propose the re-election of Dr. Liu Yi and Mr. Jin Baoting at the upcoming annual general meeting, ensuring continuity in leadership[90]. - The company has appointed three independent non-executive directors, meeting the GEM listing rules requirements for independence and qualifications[83]. - The service contracts for executive directors are set for an initial term of three years starting December 16, 2024, with independent non-executive directors' appointments also set for three years starting January 7, 2025[87]. - The board believes that having the same individual serve as both chairman and CEO provides strong and consistent leadership, facilitating the execution of the company's business strategy[91]. - The company has established three committees: Remuneration Committee, Nomination Committee, and Audit Committee, each with clear written terms of reference[94]. Future Plans and Developments - The company plans to leverage its headquarters in Hangzhou to develop AI models for the gaming sector, aiming for trial operations by 2025 to enhance efficiency and reduce costs in game development[9]. - The company has expanded its trade business related to game IP peripheral production, which is expected to further increase revenue[9]. - Management anticipates that the new business segment related to the clothing manufacturing service will reflect revenue and expenses in the consolidated financial statements for the year ending December 31, 2025[188]. Compliance and Legal Matters - The company has complied with all relevant environmental laws and regulations during the fiscal year ending December 31, 2024[145]. - The independent auditor, Hua Pu (Hong Kong) CPA Limited, was appointed on November 30, 2022, and will be proposed for reappointment at the upcoming annual general meeting[186]. - The group has established internal control procedures for handling and disclosing inside information, complying with GEM listing rules[130]. Share Capital and Financial Position - The company's debt-to-asset ratio as of December 31, 2024, was approximately 16.7%, a significant decrease from 53.5% as of December 31, 2023[45]. - The total liabilities as of December 31, 2024, were HKD 4.571 million, a significant decrease of 65.5% from HKD 13.261 million in 2023[192]. - The total distributable reserves available to the company's shareholders amounted to approximately HKD 12,943,000, compared to HKD 6,396,000 in 2023[160].

Financial Performance - In 2024, the company's revenue reached RMB 39,241.4 million, a decrease of 2.7% compared to RMB 40,340.8 million in 2023[12] - The net profit attributable to the parent company was RMB 9,352.6 million, down 12.5% from RMB 10,690.2 million in the previous year[12] - The company achieved operating revenue of RMB 39,241.4 million, a decrease of 2.7% year-on-year, with net profit attributable to shareholders at RMB 9,352.6 million, down 12.5%[14] - The adjusted net profit attributable to the parent company for the year ended December 31, 2024, was RMB 10,582.5 million, slightly down from RMB 10,854.6 million in 2023, with an adjusted gross profit of RMB 16,326.3 million, down from RMB 16,937.8 million, resulting in an adjusted gross margin of 41.6%[39] - The gross profit for 2023 was RMB 16,372,472 thousand, with a gross margin of 40.6%, up from 36.9% in 2022[97] Assets and Liabilities - The total assets increased to RMB 80,325.8 million, up from RMB 73,669.3 million in 2023, reflecting a growth of 9.0%[13] - The total liabilities increased to RMB 21,240.2 million, up from RMB 18,151.9 million in 2023[13] - Total liabilities rose to RMB 21,240.2 million as of December 31, 2024, from RMB 18,151.9 million in 2023, with a debt-to-asset ratio of 26.4%[33] - The company reported a decrease in goodwill to RMB 972.4 million as of December 31, 2024, down 46.6% from RMB 1,820.9 million in 2023, primarily due to reclassification to assets held for sale[40] Cash Flow and Financial Position - The company reported a cash and cash equivalents balance of RMB 13,434.3 million, significantly higher than RMB 10,001.0 million in the previous year[13] - Cash generated from operating activities was RMB 11,986.8 million, a decrease of 5.2% year-on-year, but excluding COVID-19 commercialization projects, it increased by RMB 2,100 million, or 22.1%[31] - The company reported a free cash flow of RMB 7,983.3 million for the year ended December 31, 2024, compared to RMB 7,124.7 million in 2023[31] - The company experienced a significant increase in tax receivables, which rose to RMB 87.2 million as of December 31, 2024, compared to RMB 17.5 million in 2023, marking a 397.4% increase[40] Business Growth and Market Position - The company achieved a record high of RMB 49.31 billion in backlog orders, representing a 47.0% year-on-year increase[9] - The company expects a revenue growth of 10-15% for its continuing operations in 2025[9] - The company anticipates a return to double-digit growth in continuing operations revenue in 2025, projecting a year-on-year increase of 10% to 15%[19] - Revenue from the top 20 global pharmaceutical companies reached RMB 16.64 billion, with a year-on-year growth of 24.1% excluding COVID-19 commercialization projects[14] - The chemical business generated revenue of RMB 29,052.4 million, with a year-on-year growth of 11.2% when excluding COVID-19 projects[16] Operational Efficiency and Strategic Initiatives - The company aims to enhance operational efficiency and expand globally to meet increasing customer innovation demands[9] - The company plans to enhance its production capacity, with the total volume of small molecule API reactors expected to exceed 4,000 kL by the end of 2025[58] - The company has doubled its oral formulation capacity at its Swiss facility during 2024[58] - The company is expanding its capabilities in various innovative technologies, including continuous flow purification and new drug formulation techniques[54] - The company aims to strengthen its global capabilities and scale to better empower pharmaceutical innovation[54] Governance and Management - The board consists of 12 members, including 5 executive directors, 2 non-executive directors, and 5 independent non-executive directors[101] - The company has a strong governance structure with a diverse board of directors and experienced management team, ensuring effective oversight and strategic direction[132] - The company has established a comprehensive internal control system to ensure compliance with laws and regulations, although risks remain due to the number of subsidiaries[88] - The company is committed to ensuring that the compensation for non-independent directors and senior management aligns with contractual terms and is fair and reasonable[181] - The company has received annual written confirmations of independence from all independent non-executive directors, affirming their status as independent individuals[150] Risks and Challenges - The company faces risks from potential declines in demand for pharmaceutical R&D services due to market trends or budget adjustments by clients[85] - Regulatory changes in the pharmaceutical R&D services industry may pose risks if the company cannot adapt its strategies accordingly[86] - The company faces intensified competition in the pharmaceutical R&D services market, particularly from large international pharmaceutical companies and new market entrants[87] Shareholder Returns and Incentives - A cash dividend of RMB 9.8974 per 10 shares was approved for distribution to shareholders listed on the register as of June 25, 2024[65] - The company decided to terminate the 2023 H-share incentive trust plan and plans to repurchase and cancel 15,467,500 H-shares[67] - The 2024 H-share incentive trust plan was approved, with a total of HKD 1 billion used to purchase 27,478,428 H-shares, accounting for approximately 0.94% of the total issued share capital[68]

Economic and Market Conditions - In 2024, the Group faced intensified global economic and geopolitical challenges, impacting businesses worldwide[19]. - The overall market environment remains challenging, necessitating continuous adjustments to business strategies[19]. - The Group expects significant growth in market demand for smart retail services and automotive peripheral products driven by advancements in generative artificial intelligence and the trade-in policy for consumer goods in the PRC[59]. Business Strategy and Operations - The Group strategically disposed of its overseas cloud services business to focus on domestic smart retail services and the newly developed automotive culture business, enhancing competitiveness[20]. - The Group will explore business opportunities in other smart retail systems and services beyond cloud solutions[20]. - The strategic adjustment to focus on domestic operations is aimed at laying a solid foundation for future growth[20]. - The Group will continue to monitor market development trends and formulate flexible business strategies to capture new opportunities[21]. - The Group resolved to sell its AWS cloud services business for a cash consideration of USD600,000, completing the disposal on 31 August 2024[28]. - The Group will continue to implement cost-saving measures and focus resources on businesses with growth potential while exploring new opportunities to maintain a competitive edge[59]. Financial Performance - For the year ended 31 December 2024, the Group's consolidated revenue amounted to approximately HK$29,109,000, representing a year-on-year increase of approximately 32% compared to HK$22,011,000 in 2023[37]. - The Group's smart retail business recorded total revenue of approximately HK$28,940,000 for the year ended 31 December 2024, an increase from approximately HK$22,011,000 in 2023, with an operating loss of approximately HK$3,438,000[31]. - The domestic cloud services business generated revenue of approximately HK$26,749,000 for the year ended 31 December 2024, compared to approximately HK$16,231,000 in 2023, with an operating loss of approximately HK$3,928,000[30]. - The discontinued AWS cloud services business recorded revenue of approximately HK$2,191,000 for the year ended 31 December 2024, down from approximately HK$5,780,000 in 2023, with an operating profit of approximately HK$490,000[30]. - The Group's automotive culture business, operational since 9 November 2023, recorded revenue of approximately HK$169,000 and an operating profit of approximately HK$2,000 by 31 December 2024[32]. - The Group's loss attributable to owners decreased by approximately 25% to approximately HK$7,598,000 for the year ended 31 December 2024, compared to approximately HK$10,108,000 in 2023[39]. - The Group's discontinued operations, including the lottery and AWS cloud services businesses, achieved a profit attributable to owners of approximately HK$2,524,000 for the year ended 31 December 2024, compared to a loss of approximately HK$104,000 in 2023[38]. Assets and Liabilities - As of December 31, 2024, the Group's total assets were approximately HK$15,684,000, down from approximately HK$32,777,000 in 2023, while total liabilities decreased to approximately HK$5,458,000 from approximately HK$15,657,000[45]. - The Group's current ratio improved to approximately 3 as of December 31, 2024, compared to approximately 2 in 2023[51]. - The Group had no bank borrowings or facilities as of December 31, 2024, maintaining a gearing ratio of nil[46]. Employee and Director Information - The total staff cost, including total Director's remuneration, for the year ended December 31, 2024, was approximately HK$6,472,000, a decrease from approximately HK$11,162,000 in 2023[64]. - The annual Director's fee for Ms. Wu Shan has been changed to HK$512,000 effective from January 1, 2025[153]. - The company ensures that the remuneration of directors is monitored regularly to remain competitive and appropriate[159]. - The interests of directors and chief executives in the shares of associated corporations were disclosed as required by the Securities and Futures Ordinance[164]. Dividend Policy - A dividend policy was adopted by the Board to allow shareholders to participate in profits while preserving liquidity for future growth opportunities[87]. - The Board does not recommend paying any dividends for the year ended 31 December 2024, consistent with 2023, where no dividends were paid[89][93]. - As of 31 December 2024, the Company did not have any reserves available for distribution, similar to the situation in 2023[116][122]. - The Group regularly reviews its dividend policy to ensure it aligns with financial performance and shareholder interests[92][94]. Environmental Commitment - The Group's commitment to environmental protection is reflected in its efforts to reduce greenhouse gas emissions, with the Board satisfied with the performance during the year ended 31 December 2024[96][100]. - The Group's business activities complied with applicable environmental policies throughout the year ended 31 December 2024[97][101]. Audit and Compliance - The consolidated financial statements for the year ended December 31, 2024, were audited by Baker Tilly Hong Kong Limited[199]. - Baker Tilly Hong Kong Limited will retire as the auditor at the conclusion of the AGM on June 26, 2025, with Loyal Honour CPA Limited proposed as the new auditor[200]. - The Audit Committee reviewed the financial statements and accounting principles prior to recommending them to the Board for approval for the year ended 31 December 2024[104][110]. - The Company has complied with all disclosure requirements in accordance with the GEM Listing Rules[185]. Share Capital and Ownership - As of December 31, 2024, the total number of issued Shares was 4,686,048,381[1]. - The total number of shares held by substantial shareholders in 51 Credit Card is 1,834,963,213, accounting for 39.16% of the issued shares[175]. - Mr. Zuo Lei is a beneficial owner of 511,025,000 Shares, representing 10.91% of the total issued Shares[1]. - Tian Tu Capital Co., Ltd. and Tiantu Investments International Limited each hold approximately 7.79% of the total issued Shares, totaling 365,000,000 Shares[1]. - The largest customer accounted for 56% of the Group's total sales, while the five largest customers combined represented 86%[140]. - The largest supplier contributed to 36% of the Group's total purchases, and the five largest suppliers combined accounted for 68%[140].

年報 ANNUAL SHOUCHENG HOLDINGS LIMITED ���� ANNUAL REPORT 年報 CONTENTS 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Group Overview | 集團簡介 | 4 | | Milestones | 里程碑 | 5 | | Group Structure | 集團架構 | 6 | | Financial Highlights | 財務摘要 | 7 | | Chairman's Statement | 主席報告書 | 8 | | Directors' Biographies | 董事簡介 | 11 | | Management Discussion and Analysis | 管理層論述與分析 | 20 | | Corporate Governance Report | 企業管治報告 | 44 | | Report of the Directors | 董事會報告書 | 83 | | Independent Auditor's Report | 獨立核數師報告 | ...

2024 2024 目錄 | ���� | | --- | | ���� | | | | ���� | | ���� | | | | | | | 頁次 | | --- | --- | | 公司簡介 | 2 | | 管理層討論及分析 | 3 | | 董事、監事及高級管理人員 | 8 | | 企業管治報告 | 12 | | 環境、社會及管治報告 | 23 | | 董事會報告書 | 35 | | 審計報告 | 42 | | 合併資產負債表 | 47 | | 資產負債表 | 49 | | 合併利潤表 | 51 | | 利潤表 | 52 | | 合併現金流量表 | 53 | | 現金流量表 | 55 | | 合併權益變動表 | 57 | | 權益變動表 | 59 | | 財務報表附註 | 61 | | 財務概要 | 238 | | 公司資料 | 239 | 二零二四年年報 1 公司簡介 深圳市元征科技股份有限公司（「本公司」）成立於 1992 年，2002 年在香港創業板上市（股票代碼 8196），2011 年 轉至香港主板上市（股票代碼 2488）。本公司是中國較早致力於汽車診斷、檢測、養護、輪胎設備研發生產的高新 ...