Financial Performance - Revenue for the year ended December 31, 2024, was RMB 4,669,078, a decrease of 3.9% compared to RMB 4,856,806 in 2023[3] - The net loss for the year increased by 64.6% to RMB 379,986 from RMB 230,868 in the previous year[3] - The adjusted net loss (non-IFRS measure) narrowed by 32.0% to RMB 57,228 from RMB 84,173 in 2023[3] - The adjusted net loss margin improved by 0.5 percentage points to (1.2%) from (1.7%) in 2023[3] - Gross profit for the year was RMB 1,538,349, compared to RMB 1,510,671 in 2023, indicating a slight increase[7] - Total customer contract revenue for the year ended December 31, 2024, was RMB 4,669,078 thousand, a decrease of 3.86% from RMB 4,856,806 thousand in 2023[26] - Revenue from pharmaceutical and healthcare business was RMB 4,539,619 thousand in 2024, down from RMB 4,717,592 thousand in 2023, representing a decline of 3.78%[26] - The total cost of goods sold for the year 2024 was RMB 3,130,729 thousand, compared to RMB 3,345,308 thousand in 2023, reflecting a decrease of 6.42%[30] - Employee benefits expenses totaled RMB 493,597 thousand in 2024, down from RMB 530,415 thousand in 2023, a reduction of 6.94%[30] - The company reported a net loss attributable to owners of the company of RMB 376,498 thousand for the year 2024, compared to a loss of RMB 225,809 thousand in 2023, indicating a worsening of 66.67%[36] Assets and Liabilities - Total assets decreased to RMB 2,632,675 from RMB 3,064,768 in 2023[12] - Cash and cash equivalents increased to RMB 1,217,954 from RMB 1,185,898 in 2023[12] - Total equity attributable to the company's owners decreased to RMB 1,660,214, down from RMB 2,037,422, representing a decline of approximately 18.5%[15] - Total liabilities decreased to RMB 952,445 from RMB 1,027,873, reflecting a reduction of about 7.3%[15] - Non-current liabilities increased to RMB 120,425 from RMB 115,329, marking an increase of approximately 4.5%[15] - Current liabilities decreased to RMB 832,020 from RMB 912,544, indicating a decrease of around 8.8%[15] - The company reported a cumulative loss of RMB 6,482,193, an increase from RMB 6,095,747, which is an increase of approximately 6.4%[15] Impairment and Goodwill - The company reported a goodwill impairment loss of RMB 198,917, which was not present in the previous year[7] - The carrying amount of goodwill as of December 31, 2024, was RMB 56,845 thousand, significantly reduced from RMB 255,762 thousand in 2023 due to impairment losses[38] - The company recognized an impairment loss of RMB 198,917 thousand on goodwill during the year 2024[38] - The impairment loss on other intangible assets was RMB 6.845 million for the year ended December 31, 2024, compared to zero for the year ended December 31, 2023[108] Revenue Sources - Online direct sales revenue was RMB 3,274.6 million, down 7.2% from RMB 3,527.9 million in 2023[76] - Business distribution revenue increased by 17.8% to RMB 642.8 million, up from RMB 545.8 million in 2023, attributed to an increase in product development and sales partnerships[80] - Offline retail revenue was RMB 622.2 million, a decrease of 3.4% from RMB 643.9 million in 2023[81] - Other business revenue was RMB 129.5 million, down 7.0% from RMB 139.2 million in 2023[82] Cash Flow and Investments - The net cash used in operating activities for the year ended December 31, 2024, was RMB 11.4 million, compared to RMB 5.2 million for the same period last year, primarily due to a pre-tax loss of RMB 370.1 million[124] - The net cash generated from investing activities for the year ended December 31, 2024, was RMB 157.0 million, mainly driven by the redemption of financial assets at fair value through profit or loss amounting to RMB 1,241.7 million[125] - The net cash used in financing activities for the year ended December 31, 2024, was RMB 121.4 million, primarily due to repayment of lease liabilities of RMB 80.2 million and share buybacks of RMB 11.9 million[126] - Capital expenditures for the year ended December 31, 2024, amounted to RMB 25.1 million, an increase from RMB 20.6 million for the year ended December 31, 2023[128] Corporate Governance - The company has adhered to the corporate governance code and maintains high standards of corporate governance to protect shareholder interests[148] - The roles of Chairman and CEO are currently held by the same individual, which the board believes ensures cohesive leadership and effective strategic planning[149] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the corporate governance code[150] - All directors confirmed compliance with the standard code of conduct for securities trading during the reporting period[153] Strategic Initiatives - The company has highlighted significant opportunities for growth in the digital health sector driven by advancements in AI and supportive government policies[63] - The company has focused on "28-minute home service" as a key offering to provide digital and intelligent health services to millions of households[64] - The company aims to enhance its "medical, testing, pharmacy, and insurance" ecosystem through deep collaboration and digitalization, addressing residents' health needs[66] - The company is committed to embracing new AI technologies to upgrade its service ecosystem, aiming for greater intelligence and professionalism in its offerings[68] - The company has integrated social responsibility into its business strategy, aiming for sustainable development through economic and social benefits[67] Shareholder Actions - The company did not declare or recommend any dividends to ordinary shareholders for the year ending December 31, 2024, consistent with 2023[61] - The board of directors did not recommend the distribution of a final dividend for the year ending December 31, 2024[156] - The company repurchased a total of 22,000,000 shares at a total cost of approximately HKD 13.0 million, with shares subsequently canceled[154] Future Outlook - The company will closely monitor market conditions and adjust business strategies accordingly in the current challenging environment[106] - The company anticipates a downward adjustment in the expected growth rates for revenue and gross margin for its subsidiaries due to intensified market competition[105]
叮当健康(09886) - 2024 - 年度业绩