Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 1,648.3 million, an increase of about 7.5% compared to RMB 1,534.0 million for the same period last year[3]. - Gross profit for the reporting period was approximately RMB 459.3 million, representing a 16.5% increase from RMB 394.2 million in the previous year[3]. - Profit attributable to the owners of the company was approximately RMB 164.2 million, up 10.2% from RMB 149.0 million in the prior year[3]. - Revenue from heating and thermal distribution services amounted to approximately RMB 1,011.1 million, an increase from RMB 922.4 million in the previous year[11]. - Engineering construction service revenue was approximately RMB 322.2 million, a 10.0% increase from RMB 292.8 million in the same period last year[18]. - The revenue from heating services was approximately RMB 1,297.3 million, an increase from RMB 1,202.0 million in the previous year[29]. - Profit for the period was approximately RMB 237.4 million, an increase of about 4.7% compared to approximately RMB 226.8 million in the same period last year, driven by increased revenue from heating services and engineering construction services[43]. - The company's total customer contract revenue for the year ended December 31, 2024, was RMB 1,648,287 thousand, representing an increase of 7.4% from RMB 1,534,035 thousand in 2023[62]. Dividends and Shareholder Information - The company plans to distribute a final dividend of RMB 0.164 per share for the year ended December 31, 2024, subject to shareholder approval, totaling approximately RMB 49,462,400[3]. - The company declared a dividend of RMB 0.15 per share for the year ending December 31, 2024, totaling RMB 45,240,000, compared to zero in 2023[74]. - The board proposed a final dividend of RMB 0.164 per share, amounting to approximately RMB 49,462,400, subject to shareholder approval[80]. - The annual general meeting is scheduled for May 16, 2025, with a suspension of share transfer registration from May 13 to May 16, 2025[84][85]. - The company will suspend share transfer registration from May 23 to May 28, 2025, for shareholders to qualify for the proposed final dividend[87]. Operational Metrics - The total actual heating service area increased to approximately 50.0 million square meters, a 5.5% rise from about 47.4 million square meters as of December 31, 2023[11]. - The number of heating service customers reached approximately 400,797 as of December 31, 2024, compared to 386,806 customers a year earlier[13]. - The company operates a primary distribution network totaling approximately 644.4 kilometers as of December 31, 2024, compared to 610.8 kilometers the previous year[17]. Costs and Expenses - The company recorded a decrease in other income to approximately RMB 36.9 million, down about 49.5% from RMB 73.0 million in the previous year[38]. - Administrative expenses decreased by 4.5% to approximately RMB 167.4 million from RMB 175.2 million in the previous year[36]. - Financial costs decreased to approximately RMB 43.7 million, down about 13.3% from approximately RMB 50.4 million in the same period last year, primarily due to reduced interest expenses and a decline in the semi-annual weighted average borrowing rate[41]. - Income tax expenses decreased to approximately RMB 51.2 million, a reduction of about 7.4% from approximately RMB 55.3 million in the same period last year, mainly due to an increase in deferred tax[42]. Innovation and Future Plans - The company is actively innovating heating technologies to achieve cleaner and more efficient heating services in line with China's carbon neutrality goals[4]. - The company aims to expand market share and geographic coverage while ensuring stable growth of existing projects, particularly focusing on the successful completion of the Baotou project and the effective growth of the heating service area in the Xinmi project by 2025[46]. - The company is developing a digital heating service platform with real-time monitoring, remote control, and data analysis capabilities, in collaboration with two domestic universities for research on heating load forecasting and intelligent regulation algorithms[46]. - The heating technology center will enhance its innovation and practical application capabilities, focusing on energy efficiency and stability of existing heating service systems while exploring comprehensive energy solutions and adopting the latest energy-saving technologies[47]. Financial Position - Trade receivables totaled RMB 647,410 thousand as of December 31, 2024, an increase from RMB 560,564 thousand in 2023, indicating a growth of 15.4%[71]. - The company incurred income tax expenses of RMB 51,172 thousand for the year ended December 31, 2024, compared to RMB 55,316 thousand in 2023, showing a decrease of 7.8%[66]. - The company's total borrowings increased slightly from RMB 719,810,000 in 2023 to RMB 726,738,000 in 2024, representing a growth of about 1%[73]. - Total trade and other payables decreased from RMB 1,106,392,000 in 2023 to RMB 1,005,402,000 in 2024, a reduction of approximately 9.1%[72]. Governance and Compliance - The company has adopted a corporate governance code and has complied with all principles and provisions as of December 31, 2024[88]. - The audit committee has reviewed the annual performance for the year ending December 31, 2024, and confirmed compliance with relevant accounting standards[92]. - The company has not identified any significant matters affecting its financial condition or operations since the reporting period[103]. Miscellaneous - The company has not purchased, sold, or redeemed any listed securities during the year ending December 31, 2024[90]. - The company has received a new exemption from strict compliance with Listing Rules 3.28 and 8.17, effective until July 9, 2026, contingent upon the assistance of Ms. Chen to Mr. Ma[99]. - The company proposed amendments to its articles of association to reflect its actual operational situation and align with the revised Company Law effective from July 1, 2024[103].
慧居科技(02481) - 2024 - 年度业绩