Financial Performance - The company's net profit attributable to shareholders reached RMB 605.1 million for the year ended December 31, 2024, representing a year-on-year increase of 0.2%[11] - Total revenue increased by 0.3% year-on-year to RMB 7.596 billion, while gross profit decreased by 3.2% to RMB 2.618 billion[11] - The company's basic and diluted earnings per share were both RMB 23.49, reflecting a slight increase of 0.2% compared to the previous year[15] - The pre-tax profit for the year was RMB 1.213 billion, a decrease of 12.9% from the previous year[15] - The company reported a significant increase in profit for the fourth quarter, with a year-on-year growth of 80.9% to RMB 172.1 million[15] - The company reported a net profit after tax of RMB 951,642,000 for the year ended December 31, 2024[65] - The company reported a net profit after tax of RMB 1,019,656,000 for the year ended December 31, 2023[66] Revenue and Segments - Total revenue for the year ended December 31, 2024, reached RMB 7,595,654,000, with significant contributions from water and sludge treatment (RMB 5,856,893,000) and water supply (RMB 1,066,939,000) segments[65] - The operating profit for the reported segments totaled RMB 1,904,194,000, with water and sludge treatment generating RMB 1,650,220,000 in operating profit[65] - The water and sludge treatment segment's revenue increased by 16.44% to RMB 5.8569 billion in 2024, while the solid waste power generation segment's revenue decreased by 31.18% to RMB 671.8 million[127] Expenses and Profitability - Administrative expenses rose by 14.0% year-on-year to RMB 657 million, impacting overall profitability[15] - Financial expenses amounted to RMB 779,461,000, impacting overall profitability[65] - The company incurred financial expenses of RMB 779,461 thousand for the twelve months ended December 31, 2024, down from RMB 834,254 thousand in 2023, indicating a decrease of 6.6%[22] - The gross profit for Q4 2024 was RMB 629 million, an increase of 28.4% compared to RMB 490 million in Q4 2023. However, the annual gross profit decreased by 3.2% to RMB 2.618 billion from RMB 2.704 billion in 2023[113] Assets and Liabilities - Cash and cash equivalents stood at RMB 2.92 billion as of December 31, 2024, indicating a healthy liquidity position[11] - Group current assets increased to RMB 10,778,160 thousand in 2024 from RMB 9,270,986 thousand in 2023, representing an increase of approximately 16.2%[17] - Group total assets rose to RMB 44,956,498 thousand in 2024, up from RMB 42,607,940 thousand in 2023, reflecting a growth of about 5.5%[19] - Group current liabilities decreased to RMB 9,264,203 thousand in 2024 from RMB 10,258,345 thousand in 2023, a reduction of approximately 9.7%[19] - Group non-current liabilities increased to RMB 19,609,785 thousand in 2024, compared to RMB 17,059,139 thousand in 2023, marking an increase of about 14.9%[19] Cash Flow - The net cash generated from operating activities for the twelve months ended December 31, 2024, was RMB 565,089 thousand, compared to RMB 1,901,197 thousand in 2023, indicating a decrease of 70.3%[24] - The net cash used in investing activities for the twelve months ended December 31, 2024, was RMB 1,707,236 thousand, compared to RMB 1,433,995 thousand in 2023, showing an increase of 19.0%[24] - The cash inflow from financing activities for the three months ended December 31, 2024, was RMB 453,049 thousand, a significant increase from an outflow of RMB 122,170 thousand in the same period of 2023[24] Equity and Dividends - The company declared dividends amounting to RMB 82,431 thousand to equity shareholders during the period ending June 30, 2024[30] - The total annual dividend for 2024 is CNY 82.431 million, a decrease from CNY 202.703 million in 2023[149] - As of December 31, 2024, total equity is projected to be RMB 16,082,510 thousand, with a profit of 172,091 thousand for the period[34] Governance and Compliance - The company maintained compliance with corporate governance codes throughout the reporting period[13] - The company has not reported any significant changes in management positions related to directors or major shareholders' relatives[150] - The company confirmed that there are no issues that would lead to material misstatements in the financial statements as of December 31, 2024[143] Market and Economic Outlook - The Chinese economy is expected to grow by 5% in 2024, with favorable policies for the environmental protection industry continuing to emerge, providing significant development opportunities[130] - The National People's Congress approved a resolution to increase local government debt limits by CNY 6 trillion to replace hidden debts, with CNY 800 billion allocated annually for five years starting in 2024[131] - The People's Bank of China and the Ministry of Ecology and Environment emphasized the importance of green finance, aiming to support pollution prevention and upgrade wastewater treatment facilities[133]
上海实业环境(00807) - 2024 - 年度业绩