Financial Performance - For the year ended December 31, 2024, the company reported revenue of RMB 5,633,410 thousand, representing a 2.9% increase from RMB 5,473,234 thousand in 2023[3]. - Gross profit for the year was RMB 676,504 thousand, a significant increase of 24.9% compared to RMB 541,773 thousand in the previous year, resulting in a gross margin of 12.0%, up 2.1 percentage points from 9.9%[3]. - The company achieved an operating profit of RMB 148,179 thousand, a turnaround from an operating loss of RMB 199,862 thousand in 2023[3]. - Net profit attributable to shareholders was RMB 7,576 thousand, compared to a loss of RMB 386,597 thousand in the previous year, with basic and diluted earnings per share of RMB 0.08, recovering from a loss of RMB 5.54[3]. - The company reported a total comprehensive income of RMB 82,827 thousand for the year, compared to a loss of RMB 426,847 thousand in 2023[7]. - The company reported a profit of RMB 39,823,000 for the year ended December 31, 2024, compared to a loss of RMB 411,006,000 in 2023, indicating a significant turnaround in performance[20]. - Basic and diluted loss per share for 2024 was RMB 0.08, a recovery from a loss of RMB 5.54 per share in 2023[36]. Revenue Breakdown - Total revenue for the year ended December 31, 2024, was RMB 7,016,627 thousand, an increase from RMB 6,982,379 thousand in 2023, representing a growth of approximately 0.49%[18]. - Revenue from external customers amounted to RMB 5,633,410 thousand for 2024, compared to RMB 5,473,234 thousand in 2023, indicating an increase of about 2.92%[18]. - The land drilling segment generated revenue of RMB 2,034,969 thousand in 2024, down from RMB 2,631,142 thousand in 2023, reflecting a decrease of approximately 22.7%[18]. - The marine segment's revenue increased to RMB 1,048,753 thousand in 2024 from RMB 549,937 thousand in 2023, marking a significant growth of approximately 90.7%[18]. - Revenue from land drilling rigs decreased to RMB 1,951,318,000 in 2024 from RMB 2,354,279,000 in 2023, while revenue from fracturing services increased to RMB 823,138,000 from RMB 524,807,000[20]. - Revenue from external customers in China increased to RMB 2,618,076,000 in 2024 from RMB 2,210,059,000 in 2023, demonstrating strong domestic demand[21]. - Revenue from components and other businesses reached RMB 1,662.2 million, accounting for 29.5% of total revenue[74]. Expenses and Costs - Research and development expenses increased to RMB 150,457 thousand from RMB 112,415 thousand, indicating a focus on innovation and product development[6]. - Depreciation and amortization expenses totaled RMB 322,333 thousand in 2024, compared to RMB 309,119 thousand in 2023, reflecting an increase of approximately 4.3%[18]. - The total income tax expense for 2024 was RMB 35,087,000, a significant increase from RMB 8,259,000 in 2023[32]. - Inventory costs recognized as expenses amounted to approximately RMB 3,085,181,000 in 2024, compared to RMB 2,912,934,000 in 2023, indicating an increase of around 5.9%[44]. Assets and Liabilities - Total assets decreased to RMB 11,928,201 thousand from RMB 12,519,539 thousand, while total liabilities also decreased to RMB 8,263,612 thousand from RMB 8,937,777 thousand[9]. - The company’s non-current assets decreased to RMB 4,294,609 thousand from RMB 4,453,314 thousand, primarily due to changes in property, plant, and equipment[8]. - The total liabilities of the group as of December 31, 2024, were approximately RMB 8.264 billion, with a debt-to-asset ratio of 69.3%, a decrease of 2.1 percentage points from the previous year[107]. - The total equity of the group as of December 31, 2024, was approximately RMB 3.665 billion, an increase of RMB 83 million from the previous year, with basic and diluted earnings per share both at RMB 0.08[108]. Cash Flow and Financing - Cash and cash equivalents increased slightly to RMB 790,586 thousand from RMB 777,660 thousand, reflecting improved liquidity[9]. - The company achieved a net gain from foreign exchange of RMB 31,836,000 in 2024, up from RMB 13,322,000 in 2023, contributing positively to overall financial performance[30]. - The company signed loan agreements with Dongfang Electric Finance for operational funding totaling RMB 160 million and RMB 100 million at a fixed interest rate of 2.4%[51]. - The company repaid RMB 301,710,000 of outstanding loans in July 2024, including repayments to various banks[50]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its marine segment, which has reached a quantitative threshold and is now reported as a separate division[14]. - The company is advancing the development of deep-sea and floating wind power products in collaboration with various research institutions[82]. - The company anticipates a compound annual growth rate of 20.5% in offshore wind power installations globally from 2024 to 2033[81]. - 2025 is positioned as a significant year for the company to enhance management and drive high-quality development[89].
宏华集团(00196) - 2024 - 年度业绩