Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 34,553,000, a decrease of 46.8% compared to RMB 64,985,000 in the previous fiscal year[5]. - The gross profit for the fiscal year 2024 was RMB 26,302,000, down 44.9% from RMB 47,645,000 in fiscal year 2023[5]. - The company incurred a net loss of RMB 41,018,000 for the fiscal year 2024, compared to a profit of RMB 10,220,000 in fiscal year 2023, representing a significant decline[5]. - Basic and diluted loss per share for the fiscal year 2024 was RMB 5.12, compared to earnings of RMB 1.28 per share in the previous year[5]. - The total comprehensive loss for the fiscal year 2024 was RMB 40,774,000, compared to a total comprehensive income of RMB 10,306,000 in fiscal year 2023[7]. - The company reported a pre-tax loss of RMB 35,336,000 in 2024, contrasting with a pre-tax profit of RMB 11,461,000 in 2023[22]. - The company recorded a loss of RMB 41.0 million in FY2024 compared to a profit of RMB 10.2 million in FY2023, primarily due to a RMB 25.7 million impairment loss in the distillation business[50]. - Revenue decreased from RMB 65.0 million in FY2023 to RMB 34.6 million in FY2024, a decline of 46.8% due to market downturn in China[53]. Income and Expenses - The company reported other income and gains of RMB 3,178,000, an increase of 66.8% from RMB 1,907,000 in the previous year[5]. - Other income increased to RMB 3,140,000 in 2024, compared to RMB 1,342,000 in 2023, driven by government subsidies and consulting service income[35]. - Employee benefits expenses rose to RMB 16,862,000 in 2024, compared to RMB 15,422,000 in 2023, reflecting an increase in wages and retirement plan contributions[37]. - Other income and net gains rose from RMB 1.9 million in FY2023 to RMB 3.2 million in FY2024, an increase of 68.4%[56]. Assets and Liabilities - Total non-current assets decreased from RMB 191,140 thousand in 2023 to RMB 170,181 thousand in 2024, a decline of approximately 11%[9]. - Current assets increased from RMB 140,057 thousand in 2023 to RMB 148,380 thousand in 2024, representing a growth of about 6%[9]. - Total liabilities increased from RMB 64,377 thousand in 2023 to RMB 92,429 thousand in 2024, marking an increase of approximately 43%[11]. - The company's net asset value decreased from RMB 266,820 thousand in 2023 to RMB 226,132 thousand in 2024, a decline of around 15%[11]. - Cash and cash equivalents decreased from RMB 41,870 thousand in 2023 to RMB 34,488 thousand in 2024, a reduction of about 18%[9]. - The company's inventory increased from RMB 82,176 thousand in 2023 to RMB 99,240 thousand in 2024, an increase of approximately 21%[9]. - The total equity decreased from RMB 266,820 thousand in 2023 to RMB 226,132 thousand in 2024, reflecting a decrease of around 15%[11]. - The company's trade payables increased significantly from RMB 1,258 thousand in 2023 to RMB 11,258 thousand in 2024, indicating a rise of over 800%[9]. - The asset-liability ratio rose from 13.0% in FY2023 to 27.6% in FY2024, driven by increased bank loans related to Fujian Dexi Winery[50]. Segment Performance - The total revenue for the wine production segment in 2024 is RMB 37,433,000, a decrease of 43% from RMB 65,847,000 in 2023[22]. - The total revenue for the spirits production segment in 2024 is RMB 79,000, compared to RMB 468,000 in 2023, indicating a significant decline[22]. - The overall segment performance shows a loss of RMB 4,190,000 in 2024, down from a profit of RMB 16,345,000 in 2023[22]. - Non-current non-financial asset impairment loss for the spirits production segment in 2024 is RMB 25,748,000, which negatively impacts overall profitability[22]. Future Plans and Strategies - The company plans to focus on improving operational efficiency and exploring new market opportunities to recover from the current financial downturn[5]. - The company plans to sell 30% of its distillation and brewing business to improve financial health, a proposal approved by independent shareholders on February 19, 2025[51]. - The company has conditionally agreed to sell 100% of the issued share capital of Pacific Surplus Limited for HKD 71.28 million and 30% of Epic Wealth Holdings Limited for HKD 38.88 million[70]. Dividends and Shareholder Information - The company did not recommend any final dividend for the year ending December 31, 2024[43]. - The board has proposed a special dividend of HKD 0.07802 per share related to the Pacific Surplus sale, pending independent shareholder approval[70]. - A special dividend of HKD 0.04256 per share related to the Epic Wealth sale also requires independent shareholder approval[70]. Compliance and Governance - The audit committee has reviewed the annual performance for fiscal year 2024 and confirmed compliance with applicable accounting standards and regulations[81]. - The financial statements for fiscal year 2024 have been approved by the auditors, Ernst & Young, without any guarantees provided[82]. - The board of directors includes executive director Chen Fang and non-executive directors Zhou Hao, Zhang Jihang, and James Douglas Richard Field[84].
怡园酒业(08146) - 2024 - 年度业绩