Financial Performance - For the fiscal year ending March 31, 2024, the company reported a revenue of RMB 490,552,000, an increase of approximately RMB 40,691,000 or 9.0% compared to the previous year[4]. - Gross profit for the year decreased to RMB 77,078,000, down RMB 17,801,000 or 18.8%, with the overall gross margin declining from approximately 21.1% to 15.7%[4]. - Shareholders' profit attributable to the company was RMB 8,357,000, a decrease of RMB 24,213,000 compared to the previous year, primarily due to lower gross profit and increased impairment losses[4]. - The company's total revenue for the year ended March 31, 2024, was RMB 490,552,000, an increase from RMB 449,861,000 in the previous year, representing an increase of approximately 9.1%[24]. - The total cost of sales increased to RMB 413,474,000 from RMB 354,982,000, reflecting a year-on-year increase of approximately 16.4%[24]. - The overall gross margin decreased from approximately 21.1% to 15.7%, primarily due to increased personnel costs for technical support and intensified market competition[15]. - The company registered a net profit of RMB 8,357,000 for the year, down from RMB 32,570,000 in the previous year, indicating a decline of approximately 74.3%[26]. - The company reported a pre-tax profit of RMB 8,436,000 for 2024, significantly lower than RMB 34,015,000 in 2023, a decline of 75.2%[52]. - The company's other income decreased to RMB 2,173,000 in 2024 from RMB 6,092,000 in 2023, a decline of 64.3%[54]. - The company's income tax expense for 2024 was RMB 79,000, a significant decrease of 94.5% compared to RMB 1,445,000 in 2023[61]. - The total tax expense calculated based on applicable tax rates for 2024 was RMB 2,413,000, down 72.6% from RMB 8,796,000 in 2023[61]. Revenue Breakdown - Revenue from software and solutions sales increased significantly by RMB 83,043,000, driven by higher demand for power information systems and related hardware maintenance[14]. - Revenue from software and solutions sales was RMB 177,061,000 in 2024, up from RMB 94,018,000 in 2023, indicating an increase of 88.6%[50]. - The revenue from technical services was RMB 280,587,000 in 2024, compared to RMB 290,120,000 in 2023, showing a decrease of 3.3%[50]. - The revenue from product sales was RMB 32,904,000 in 2024, down from RMB 65,723,000 in 2023, indicating a decline of 50.0%[50]. Expenses and Costs - The company reported an increase in administrative and other operating expenses to RMB 48,498,000, compared to RMB 49,584,000 in the previous year[3]. - The company's administrative and other operating expenses decreased by RMB 1,086,000, or 2.2%, to RMB 48,498,000, mainly due to improved R&D efficiency[17]. - R&D expenses decreased by 18.1% compared to the previous year, totaling RMB 24,510,000[21]. - The total employee costs for 2024 were RMB 99,845,000, a decrease from RMB 104,090,000 in 2023, representing a reduction of 4.8%[55]. - The company's financing costs increased to RMB 3,832,000 in 2024 from RMB 2,592,000 in 2023, an increase of 47.8%[52]. Assets and Liabilities - Trade receivables and notes receivable net value increased by RMB 65,939,000, or 17.3%, reaching RMB 447,732,000 as of March 31, 2024[18]. - The company's inventory and contract costs increased by RMB 39,279,000, primarily due to an increase in the number and scale of ongoing large-scale information technology projects[19]. - The net cash and cash equivalents increased to RMB 62,891,000 from RMB 55,517,000, reflecting a positive cash flow situation[28]. - The total assets less current liabilities increased to RMB 289,068,000 from RMB 272,144,000, indicating growth in the company's financial position[28]. - The group recorded an operating cash outflow of RMB 48,279,000 for the year ending March 31, 2024, compared to an inflow of RMB 3,901,000 in 2023[31]. - The group committed to a non-operating cash outflow of RMB 135,183,000 within one year, including RMB 132,455,000 for bank loan repayments and RMB 2,728,000 for interest payments[31]. - As of March 31, 2024, the group's current assets exceeded its current liabilities by RMB 260,298,000, compared to RMB 248,408,000 on March 31, 2023[31]. - Trade payables rose to RMB 151,932,000 in 2024, up from RMB 136,682,000 in 2023, with third-party trade payables increasing to RMB 145,082,000[88]. - Short-term bank loans increased significantly to RMB 132,455,000 in 2024 from RMB 68,500,000 in 2023, indicating a rise in financial leverage[91]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as per the listing rules, ensuring transparency and accountability[97]. - The company has maintained a high level of corporate governance, emphasizing effective risk management and internal control systems[96]. - The group’s consolidated financial statements for the year have been reviewed by the audit committee and audited by KPMG, with no reservations noted in the independent auditor's report[107]. - The company has actively engaged in corporate social responsibility initiatives to strengthen community ties and promote sustainable development[105]. Future Outlook and Strategy - The company aims to leverage opportunities in the new energy sector and the construction of new power systems, focusing on expanding its energy digitalization business and creating new value[12]. - The company plans to deepen its digital transformation in the energy sector, expanding its services to include water, gas, heat, and oil industries[9]. - The company is committed to enhancing its digital capabilities to meet the personalized demands in the energy services sector as market prices become more volatile[9]. Joint Ventures and Collaborations - The company's share of the joint venture, Beijing Beikong Zhike Energy Internet Co., Ltd., reported total assets of RMB 11,353 in 2024, compared to RMB 12,293 in 2023, a decrease of about 7.6%[79]. - The revenue from the joint venture increased to RMB 3,980 in 2024 from RMB 3,311 in 2023, representing a growth of approximately 19.9%[79]. - The net assets of the joint venture increased slightly to RMB 8,342 in 2024 from RMB 8,317 in 2023, showing a marginal growth of about 0.3%[79]. Miscellaneous - The company did not recommend a final dividend for the year, consistent with the previous year[100]. - There have been no significant post-reporting period events that could impact the group from April 1, 2024, to the date of this announcement[108]. - The annual performance announcement will be published on the company's website and the Hong Kong Stock Exchange website[109]. - The board expresses gratitude to the management team, employees, partners, customers, suppliers, and shareholders for their support and trust in achieving the group's vision[111].
元力控股(01933) - 2024 - 年度业绩