Financial Performance - For the year ended December 31, 2024, the company's revenue was approximately RMB 1,313.61 million, a decrease of about 11.91% compared to RMB 1,491.15 million for the year ended December 31, 2023[2] - The gross profit for the reporting period was approximately RMB 315.25 million, down about 5.07% from RMB 332.10 million in the previous year[2] - The net profit for the reporting period was approximately RMB 130.05 million, an increase of about 1.54% compared to RMB 128.08 million for the year ended December 31, 2023[2] - The company's basic and diluted earnings per share for the reporting period were both approximately RMB 0.11, unchanged from the previous year[2] - The total revenue for the group for the year ending December 31, 2024, is RMB 1,313,611,769, a decrease of approximately 11.9% from RMB 1,491,153,988 in 2023[15] - The group reported a gross profit of RMB 315,246,834 for 2024, compared to RMB 332,102,942 in 2023, indicating a decrease of approximately 5.1%[15] - The group's revenue for the year ended December 31, 2024, decreased by 11.91% to approximately RMB 1,313.61 million from approximately RMB 1,491.15 million for the year ended December 31, 2023[43] Revenue Breakdown - Revenue from the supply of industrial gases decreased to RMB 961,497,921 in 2024 from RMB 998,622,439 in 2023, representing a decline of about 3.5%[19] - The supply of liquefied natural gas and gas transportation services generated revenue of RMB 213,195,599 in 2024, down 30.2% from RMB 305,356,594 in 2023[19] - Revenue from pipeline industrial gas supply was approximately RMB 961.50 million, a decrease of about 3.72% from RMB 998.62 million in 2023, attributed to the suspension of operations at the Tangshan high-strength plate gas plant[57] - Revenue from liquefied industrial gas supply was approximately RMB 113.16 million, down about 31.71% from RMB 165.70 million in 2023, mainly due to a decrease in liquid oxygen product prices[58] - Revenue from liquefied natural gas and gas transportation services was approximately RMB 213.20 million, a decrease of about 30.18% from RMB 305.36 million in 2023, primarily due to reduced demand from specific customers[58] - The technology support and management services segment achieved revenue of RMB 14.76 million with a gross profit margin of 63.00% for the year ended December 31, 2024[47] Expenses and Costs - Research and development expenses for the reporting period were approximately RMB 66.25 million, down from RMB 73.60 million in the previous year[3] - The net financial costs for 2024 were RMB 18,476,621, a decrease from RMB 21,715,449 in 2023, showing a reduction of about 15.3%[25] - The group's net financial costs for the reporting period were approximately RMB 18.48 million, a decrease of about 14.92% from RMB 21.72 million in 2023, due to lower interest expenses[64] - The total employee cost for the year ended December 31, 2024, was approximately RMB 52.64 million, a decrease from RMB 55.37 million in 2023, with a total of 324 employees[79] Assets and Liabilities - As of December 31, 2024, the company's debt-to-equity ratio was 28.2%, a decrease from 35.5% as of December 31, 2023[2] - The total assets less current liabilities amounted to RMB 1,896.47 million as of December 31, 2024, compared to RMB 1,804.72 million in the previous year[4] - The company's non-current liabilities decreased to RMB 252.57 million from RMB 291.29 million in the previous year[5] - The total equity attributable to the owners of the company increased to RMB 1,643.90 million from RMB 1,513.43 million in the previous year[5] - The group's total current assets as of December 31, 2024, were approximately RMB 839.31 million, a decrease of about 1.59% from RMB 852.86 million in 2023[67] - The current ratio as of December 31, 2024, was approximately 1.54, compared to 1.28 in 2023, indicating improved liquidity[67] Taxation - The income tax expense for 2024 was RMB 29,406,635, an increase of 19.5% from RMB 24,688,546 in 2023[27] - The current tax for China was RMB 20,042,126 in 2024, compared to RMB 10,866,235 in 2023, reflecting a significant increase[27] - The deferred tax expense decreased from RMB 13,822,311 in 2023 to RMB 9,364,509 in 2024[27] Dividends - The company did not recommend the payment of a final dividend for the reporting period, consistent with the previous year[2] - The board of directors did not recommend the payment of a final dividend for the reporting period, maintaining a prudent approach[68] Future Outlook - China's GDP growth for 2024 is projected at approximately 5.0%, with challenges anticipated in the steel industry due to high raw material prices and declining steel prices[48] - The steel industry is expected to face significant challenges in 2024, impacting profitability and potentially leading to reduced production and demand for industrial gases[50] - The industrial gas market in China is expected to continue growing, driven by national policy support, foreign investment, and the development of high-tech industries[51] - The outsourcing gas supply model is gaining market share, with expectations that it will gradually replace self-built gas supply models in the future[52] - The company aims to leverage its successful experience and technical advantages in outsourcing gas supply to seek external development opportunities[53] Other Information - The group has no significant contingent liabilities as of December 31, 2024[78] - The group has no foreign currency or interest rate hedging policies in place but regularly monitors foreign exchange risks[75] - The group aims to maintain an appropriate level of current assets and committed funding to meet its liquidity needs[70] - The group has not made any significant investments, acquisitions, or disposals of subsidiaries or associates during the reporting period[76] - The annual general meeting will be held on June 20, 2025[87] - The deadline for submitting transfer documents for shareholder registration is June 16, 2025[89] - The company will suspend share transfer registration from June 17 to June 20, 2025[89] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website in late April 2025[90] - The annual report for the year ending December 31, 2024, will be sent to shareholders in late April 2025[90]
CGII HLDGS(01940) - 2024 - 年度业绩