Financial Performance - For the fiscal year ending December 31, 2024, revenue was approximately RMB 570,069,000, a decrease of about RMB 21,816,000 compared to 2023[3] - Gross profit margin for the fiscal year was approximately 10.4%, an increase of about 4.7 percentage points from 2023[3] - The loss attributable to owners of the company for the fiscal year was approximately RMB 42,564,000, a reduction of about RMB 55,850,000 compared to 2023[3] - Total comprehensive loss attributable to owners of the company for the fiscal year was approximately RMB 77,209,000, a decrease of about RMB 21,205,000 from 2023[3] - Basic and diluted loss per share was approximately RMB 1.10, a decrease of about RMB 1.44 compared to 2023[3] - The group reported a total loss of RMB 43,348,000 for the year ended December 31, 2024, compared to a loss of RMB 99,233,000 for the previous year[20] - The company reported a loss of RMB 42,564,000 for the year ended December 31, 2024, compared to a loss of RMB 98,414,000 for the year ended December 31, 2023[41] - The total comprehensive loss for the year ended December 31, 2024, was approximately RMB 77,993,000, an improvement from a loss of approximately RMB 99,233,000 in the previous year[117] Assets and Liabilities - Non-current assets totaled RMB 549,733,000, a decrease from RMB 579,355,000 in 2023[7] - Current assets amounted to RMB 514,764,000, an increase from RMB 504,224,000 in 2023[7] - Total liabilities increased to RMB 530,122,000 from RMB 485,356,000 in 2023[8] - Net assets attributable to owners of the company decreased to RMB 418,182,000 from RMB 495,199,000 in 2023[8] - Total assets as of December 31, 2024, amounted to RMB 1,064,497,000, with segment assets for the welding pipe business at RMB 949,785,000 and for the trading business at RMB 24,103,000[22] - The group’s total liabilities as of December 31, 2024, were RMB 637,168,000, with segment liabilities for the welding pipe business at RMB 324,250,000[22] - As of December 31, 2024, the group's current liabilities exceed current assets by approximately RMB 15,358,000[12] - As of December 31, 2024, the company's net current liabilities amounted to approximately RMB 15,358,000, a decrease from net current assets of approximately RMB 18,868,000 as of December 31, 2023[118] Revenue Breakdown - Total revenue for the year ended December 31, 2024, was RMB 570,069,000, with sales to external customers from the welding pipe business at RMB 559,375,000 and from the trading business at RMB 10,694,000[18] - Revenue from major customer A in the welding pipe business increased to RMB 375,443,000 in 2024 from RMB 200,100,000 in 2023, representing an increase of 87.5%[26] - Total revenue from the welding pipe business reached RMB 559,375,000 in 2024, up from RMB 547,827,000 in 2023, reflecting a growth of 2.0%[26] - Trade business revenue decreased to RMB 10,694,000 in 2024 from RMB 44,058,000 in 2023, a decline of 75.7%[26] - The company's revenue for the year ended December 31, 2024, decreased by approximately 3.7% to about RMB 570,069,000 from approximately RMB 591,885,000 in the previous year[102] Cost and Expenses - The cost of goods sold decreased to RMB 483,265,000 in 2024 from RMB 533,468,000 in 2023, a decline of 9.4%[35] - Administrative expenses decreased from approximately RMB 94,281,000 to about RMB 78,334,000, attributed to effective cost management[108] - Total financial expenses decreased to RMB 13,872,000 in 2024 from RMB 14,503,000 in 2023, a reduction of 4.4%[33] - The total payroll and related costs for the year ended December 31, 2024, were approximately RMB 56,765,000, a decrease from RMB 68,522,000 in 2023, primarily due to workforce optimization and reduced overtime pay[130] Investments and Capital Expenditures - Capital expenditures for the year were approximately RMB 15,435,000, compared to RMB 13,355,000 in the previous year[24] - The total cost for acquiring property, plant, and equipment was approximately RMB 15,435,000 for the year ended December 31, 2024, up from RMB 13,355,000 in 2023[45] - The company sold a 2% stake in Zhejiang Shengguan for a cash consideration of RMB 1,890,000, while retaining 98% ownership[66] - The company’s bank loans with collateral amounted to RMB 276,040,000 in 2024, down from RMB 280,800,000 in 2023, a decrease of 1.4%[69] Market and Operational Highlights - The company successfully secured the top position in the annual procurement tender for welded steel pipes from China National Petroleum Corporation (CNPC) and maintained a leading position in multiple projects with China Petroleum & Chemical Corporation (Sinopec)[78] - The company expanded its market presence by successfully acquiring five new clients during the year, enhancing its competitive edge in the domestic and international markets[78] - The company implemented 20 equipment technology upgrades, significantly improving operational safety and production efficiency[85] - The company achieved a successful completion of major pipeline projects, including the HuLin-Changchun natural gas pipeline and the Lianyungang-Yizheng crude oil pipeline, ensuring timely delivery and quality[81] - The company improved its energy consumption management, contributing to the national "dual carbon" goals by increasing the use of green energy through photovoltaic projects[87] Compliance and Governance - The board of directors did not recommend any final or interim dividends for the fiscal year[3] - The company maintained compliance with all corporate governance codes during the review year[136] - The audited consolidated financial statements for the year ending December 31, 2024, have been reviewed by the audit committee[144] Future Outlook - The company aims to achieve comprehensive coverage of national pipeline projects by expanding its market research and product range, targeting both social and national pipeline orders for steady growth[90] - The company plans to enhance its patent applications and technology research efforts to drive innovation and product development[90] - The company is committed to contributing to national energy construction while pursuing sustainable development and long-term value creation for investors[95]
胜利管道(01080) - 2024 - 年度业绩