Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 109,271,000, representing a 28.1% increase from RMB 85,353,000 in 2023[6] - Gross profit for the same period was RMB 42,561,000, with a gross margin of 38.9%, up from RMB 22,485,000 and a gross margin of 26.3% in the previous year[6] - The company reported a profit attributable to owners of RMB 11,372,000, compared to a loss of RMB 39,779,000 in 2023[6] - The pre-tax profit for the year was RMB 12,180,000, a significant recovery from a loss of RMB 50,836,000 in the prior year[6] - The total comprehensive income for the year was RMB 11,410,000, compared to a loss of RMB 42,367,000 in 2023[8] - The basic loss per share for the fiscal year 2024 was RMB 11.37 million, compared to a loss of RMB 39.78 million in 2023, reflecting an improvement in financial performance[29] - The company recorded a profit attributable to owners of approximately RMB 11.4 million for the year ended December 31, 2024, compared to a loss of approximately RMB 39.8 million for the same period in 2023[37] Revenue Breakdown - For the fiscal year ending December 31, 2024, the company's revenue from ITO conductive film was approximately RMB 22.97 million, a decrease of about RMB 3.9 million or 14.5% compared to RMB 26.91 million in the same period of 2023[34] - The total revenue from customer contracts for the fiscal year 2024 was RMB 109.27 million, an increase from RMB 85.35 million in 2023, representing a growth of approximately 28.0%[25] - Revenue from smart dimming products for the fiscal year 2024 was RMB 79.57 million, up from RMB 48.94 million in 2023, indicating a significant increase of approximately 62.5%[25] - Smart dimming product sales revenue for the year ended December 31, 2024, was approximately RMB 79.6 million, an increase of about RMB 30.7 million or approximately 62.8% compared to RMB 48.9 million for the same period in 2023[35] - Total revenue for the year ended December 31, 2024, was approximately RMB 109.3 million, an increase of about RMB 23.9 million or approximately 28.0% compared to RMB 85.4 million for the same period in 2023[39] Assets and Liabilities - Current assets increased to RMB 172,050,000 from RMB 157,725,000, while current liabilities rose to RMB 80,871,000 from RMB 65,979,000[12] - The company's net assets increased to RMB 173,262,000 from RMB 161,852,000 year-over-year[14] - Inventory levels increased to RMB 25,620,000 from RMB 15,697,000, indicating a potential expansion in production or sales[12] - Trade receivables aged within three months amounted to RMB 24.85 million for the fiscal year 2024, a decrease from RMB 27.68 million in 2023[31] - Trade payables aged within six months were RMB 14.78 million for the fiscal year 2024, down from RMB 16.88 million in 2023[32] Expenses and Financial Management - Administrative expenses for the year ended December 31, 2024, were approximately RMB 24.6 million, an increase of about RMB 3.3 million or approximately 15.5% compared to RMB 21.3 million for the same period in 2023[43] - The company reported a total tax expense of RMB 1.20 million for the fiscal year 2024, compared to a tax credit of RMB 8.48 million in 2023[27] - The company confirmed a trade receivables impairment loss of approximately RMB 2.5 million for the year ended December 31, 2024, primarily related to overdue balances over three years[54] - The expected credit loss provision for trade receivables is estimated at approximately RMB 2.5 million as of December 31, 2024[60] Shareholder Information - Major shareholder China Water Development Industry Group holds a 62.37% stake in the company[69] - Water Development Group (Hong Kong) holds approximately 66.92% and 7.17% of the issued share capital of Water Development Industry, representing 1,687,008,585 shares and 180,755,472 shares respectively[70] - As of December 31, 2024, AMATA Limited is beneficially owned by four individuals with ownership percentages of 39%, 27%, 20%, and 14% respectively[71] - The total number of issued shares for Water Development Industry as of December 31, 2024, is 2,521,081,780 shares[77] Future Outlook and Strategy - The company plans to maintain a cautious approach in expanding production lines and developing R&D projects to meet future expected demand[38] - The business strategy has been adjusted to slow down operations to mitigate short-term risks and volatility due to market conditions[66] Dividend and Financial Reporting - The company does not recommend a final dividend for the fiscal year ending December 31, 2024, following no dividend declared for the previous year[28] - The company does not recommend the payment of a final dividend for the year 2023, with actual dividend payments dependent on the group's performance and overall economic conditions[67] - The company has not applied any new international financial reporting standards that have been issued but are not yet effective, indicating a cautious approach to accounting changes[20] - The company anticipates that the application of new international financial reporting standards will not have a significant impact on its consolidated financial statements in the foreseeable future[22] Corporate Governance - The company has adopted a code of conduct for securities transactions by directors, which complies with GEM Listing Rules[80] - The audit committee has reviewed the financial statements for the year ended December 31, 2024, and confirmed compliance with applicable accounting principles[81] - The company has not disclosed any significant events affecting the group from December 31, 2024, to the date of this announcement[78] - The chairman of the company is Du Peng, and the executive directors include Zhang Chao and Zhu Xuping[84] - The annual results announcement is available on the Hong Kong Stock Exchange website and the company's website[84]
水发兴业新材料(08073) - 2024 - 年度业绩