Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 1,944,411 thousand, a slight increase from RMB 1,928,400 thousand in 2023, representing a growth of approximately 0.8%[3] - The gross profit for the same period was RMB 213,725 thousand, up from RMB 180,293 thousand in 2023, indicating a gross profit margin increase to 11.0% from 9.3%[3] - The net profit attributable to equity shareholders was RMB 92,703 thousand, compared to RMB 77,446 thousand in the previous year, reflecting a net profit margin improvement to 4.8% from 4.0%[3] - Earnings per share rose to RMB 0.15 from RMB 0.13, marking an increase of approximately 15.4% year-over-year[3] - The group reported a total revenue of RMB 1,944,411 thousand for 2024, compared to RMB 1,928,400 thousand in 2023, reflecting a growth of approximately 0.83%[21] - The gross profit for the reporting segments in 2024 was RMB 213,725,000, up from RMB 180,293,000 in 2023, indicating an increase of about 18.5%[28] - The company reported a pre-tax profit of RMB 108,271,000 for 2024, compared to RMB 88,036,000 in 2023, reflecting a growth of approximately 23%[28] - The net profit for the year increased from approximately RMB 77,446,000 in 2023 to RMB 92,703,000 in 2024, with a net profit margin rising from 4.0% to 4.8%[73] Revenue Sources - Sales of hot-rolled steel coils reached RMB 159,227 thousand in 2024, up from RMB 122,022 thousand in 2023, marking an increase of about 30.5%[21] - Revenue from the sale of non-color coated galvanized steel products was RMB 1,025,588 thousand in 2024, a decrease of 4.4% from RMB 1,072,815 thousand in 2023[21] - The group provided property management services generating revenue of RMB 6,165 thousand in 2024, an increase of 47.0% from RMB 4,195 thousand in 2023[21] - Customer A contributed RMB 221,257 thousand to the group's revenue in 2024, compared to RMB 212,699 thousand in 2023, representing a growth of 4.3%[21] - Customer B's contribution was RMB 168,844 thousand in 2024, down from RMB 198,300 thousand in 2023, indicating a decline of approximately 14.8%[21] Financial Position - The company's current ratio improved to 1.9 from 1.6, while the debt-to-asset ratio decreased to 0.4 from 0.6, indicating stronger liquidity and financial stability[3] - Total assets decreased to RMB 1,341,040 thousand from RMB 1,404,460 thousand, primarily due to a reduction in trade receivables[9] - The company reported a decrease in trade receivables to RMB 469,839 thousand from RMB 549,539 thousand, which may reflect improved collection efforts[9] - The company’s cash and cash equivalents increased to RMB 239,102 thousand from RMB 168,990 thousand, indicating improved cash flow management[9] - Trade receivables, net of loss provisions, decreased from RMB 211,111,000 in 2023 to RMB 196,169,000 in 2024, representing a decline of approximately 7.1%[42] - The balance of notes receivable decreased from RMB 338,428,000 in 2023 to RMB 273,670,000 in 2024, a reduction of about 19.2%[42] - Total trade receivables and notes receivable, net of loss provisions, decreased from RMB 549,539,000 in 2023 to RMB 469,839,000 in 2024, a decline of approximately 14.5%[42] - Trade payables and notes payable decreased from RMB 351,689,000 in 2023 to RMB 327,212,000 in 2024, a decrease of about 7%[44] Expenses and Costs - The sales expenses increased to RMB 69,834,000 in 2024 from RMB 56,525,000 in 2023, marking an increase of around 23.5%[28] - The employee costs for 2024 were RMB 70,459,000, up from RMB 60,175,000 in 2023, representing an increase of approximately 17.9%[32] - The depreciation expenses decreased to RMB 28,652,000 in 2024 from RMB 32,171,000 in 2023, a reduction of about 10.4%[35] - The financing costs decreased to RMB 18,247,000 in 2024 from RMB 20,147,000 in 2023, a decline of about 9.4%[31] Market and Business Strategy - The company plans to continue focusing on the manufacturing and sales of steel products, as well as property management services, to drive future growth[10] - The group anticipates strong demand in the home appliance market driven by government policies, particularly in the fourth quarter, leading to a robust order book[58] - The group plans to maintain existing business operations while seeking to capture more market share and enhance profitability amid challenges and opportunities in the market[61] - The group expects the demand for energy-efficient home appliances to increase further due to the "dual carbon" goals, alongside a rise in personalized and customized smart home appliance needs[61] Corporate Governance - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the year ending December 31, 2024[86] - The board believes that good corporate governance is crucial for the company's success and shareholder value enhancement, and has maintained high levels of governance throughout the year[88] - The audit committee has reviewed the audited consolidated results for the year ending December 31, 2024, and confirmed alignment with the preliminary financial data disclosed[92] Future Outlook - The company does not recommend the payment of a final dividend for the year ending December 31, 2024, consistent with the previous year[52] - The annual general meeting is scheduled for June 13, 2025, with a notice to be sent to shareholders in due course[96] - The company will suspend share transfer registration from June 10, 2025, to June 13, 2025, to determine eligible shareholders for the annual general meeting[98] - The annual report containing all required information will be sent to shareholders and made available on the company's website[99] - There have been no significant events occurring after December 31, 2024, up to the date of this announcement[94]
康利国际控股(06890) - 2024 - 年度业绩