Financial Performance - The group's total revenue for the year ended December 31, 2024, was approximately RMB 4,753.9 million, an increase of about 7.2% compared to RMB 4,434.8 million in 2023[4]. - Net profit for the group was approximately RMB 257.5 million, representing a growth of about 16.7% from RMB 220.6 million in 2023[4]. - Profit attributable to equity holders of the company was approximately RMB 242.6 million, up about 23.5% from RMB 196.5 million in 2023[4]. - The total comprehensive income for the year was RMB 270.21 million, compared to RMB 222.49 million in 2023[8]. - The EBITDA for the same period was RMB 1,468,494,000, compared to RMB 1,413,283,000 in 2023, indicating a year-over-year increase of about 3.9%[24]. - The company reported a profit of RMB 257,504,000 for the fiscal year ending December 31, 2024, compared to RMB 220,560,000 in 2023, marking an increase of about 16.7%[24]. - Basic earnings per share for the year ended December 31, 2024, is RMB 0.0854, compared to RMB 0.0675 for the previous year[57]. - The company's net profit for 2024 was approximately RMB 257.5 million, an increase of RMB 36.9 million or 16.7% compared to RMB 220.6 million in 2023[116]. - The profit attributable to equity holders of the company for 2024 was approximately RMB 242.6 million, an increase of RMB 46.1 million or 23.5% compared to RMB 196.5 million in 2023[117]. Cash Flow and Dividends - Operating cash inflow was approximately RMB 1,325.1 million, an increase of about 44.5% compared to RMB 916.8 million in 2023; free cash flow was approximately RMB 979.7 million, up about 96.1% from RMB 499.5 million in 2023[4]. - The board proposed a final dividend of RMB 0.025 per share, totaling approximately RMB 73 million, an increase of about 87.2% compared to RMB 39 million in 2023[4]. - The year-end cash and cash equivalents stood at RMB 2,190,759 thousand, compared to RMB 1,585,886 thousand at the end of 2023, marking a growth of 38.2%[10]. - The net increase in cash and cash equivalents for the year was RMB 588,879 thousand, down from RMB 851,622 thousand in the previous year[10]. - The company paid income taxes amounting to RMB 185,385 thousand, an increase from RMB 130,983 thousand in 2023, reflecting a rise of 41.5%[10]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 10,217.98 million, compared to RMB 9,806.87 million in 2023[6]. - Total liabilities as of December 31, 2024, were RMB 6,609.64 million, compared to RMB 6,385.99 million in 2023[6]. - Accounts receivable from customer contracts stood at RMB 2,189,508,000 as of December 31, 2024, slightly down from RMB 2,192,156,000 in 2023[29]. - Total liabilities for accounts payable and notes payable reached RMB 1,959,260,000 in 2024, up from RMB 1,819,924,000 in 2023, indicating a growth of approximately 7.7%[34]. - The impairment of accounts receivable increased to RMB 366,857,000 in 2024 from RMB 314,310,000 in 2023, reflecting a rise in credit risk[32]. Revenue Segmentation - The oilfield technology services segment generated revenue of RMB 2,125,937,000, while the oilfield management services segment contributed RMB 1,848,066,000, reflecting strong performance in these areas[24]. - Revenue from service provision increased to RMB 4,343,596,000 in 2024 from RMB 3,998,123,000 in 2023, marking a growth of approximately 8.6%[36]. - The company’s revenue from contracts with customers totaled RMB 1,979,429,000 for the year ended December 31, 2024, compared to RMB 1,856,765,000 in 2023, reflecting an increase of about 6.6%[38]. - Oilfield management services revenue increased by approximately 14.2% to RMB 1,848.1 million, representing about 38.9% of total revenue[84][85]. - Oilfield technology services revenue grew by approximately 5.2% to RMB 2,125.9 million, accounting for about 44.7% of total revenue[84][85]. Market Performance - In 2024, the company's overseas market revenue reached approximately RMB 3,091.1 million, an increase of about RMB 403.0 million or 15.0% compared to RMB 2,688.1 million in 2023, accounting for approximately 65.0% of total revenue[72]. - The revenue from the Iraq market was approximately RMB 2,601.4 million, up RMB 390.5 million or 17.7% from RMB 2,210.9 million in 2023, representing 54.7% of the company's total revenue[72]. - The company recorded revenue of approximately RMB 489.7 million from other overseas markets, an increase of about 2.6% from RMB 477.2 million in 2023, accounting for approximately 10.3% of total revenue[78]. - In the Chinese market, revenue was approximately RMB 1,662.8 million, a decrease of RMB 83.9 million or 4.8% from RMB 1,746.7 million in 2023, representing 35.0% of total revenue[72]. Operational Highlights - The company secured new orders totaling approximately RMB 9,009.2 million in 2024, a year-on-year increase of about 53.7%, with overseas orders growing by approximately 78.8%[64]. - The company has successfully signed a development contract for the Dhufriyah oil field in Iraq, marking a significant milestone in its oil and gas development efforts[65]. - The company is actively promoting digital technology applications in Iraq, enhancing management efficiency for oilfield clients through automation projects[76]. - The company has made significant technological breakthroughs in China, including a new high in production for tight gas well enhancement services and a successful bid for a 300MW air storage project[80]. - The group received 16 software copyrights in the year, covering various innovative technologies including intelligent drilling and real-time leak point prediction[81]. Research and Development - Research and development investment for 2024 was approximately RMB 115.7 million, up 3.6% from RMB 111.7 million in the previous year[99]. - The group plans to spin off Tongao Testing for independent listing in the mainland capital market, although the timeline has been delayed due to current macroeconomic conditions[88]. Employee and Corporate Governance - The total number of employees as of December 31, 2024, was 6,754, an increase of 244 from the previous year, with overseas employees accounting for 62.8% of the total[100]. - The audit committee reviewed the group's audited financial statements for the year ending December 31, 2024[140].
安东油田服务(03337) - 2024 - 年度业绩