Financial Performance - Revenue decreased by 19.78% to RMB 2,079,022,000 compared to RMB 2,591,773,000 in 2023[6] - Gross profit decreased by 13.46% to RMB 567,158,000 from RMB 655,390,000 in the previous year[6] - Profit attributable to owners decreased by 27.42% to RMB 185,066,000, down from RMB 254,989,000 in 2023[6] - Basic earnings per share and diluted earnings per share were RMB 0.0904 and RMB 0.0896 respectively, compared to RMB 0.1287 in 2023[6] - Total comprehensive income for the year was RMB 190,594,000, down from RMB 260,986,000 in 2023[8] - Total revenue for the year ending December 31, 2024, was RMB 2,079,022 thousand, a decrease from RMB 2,591,773 thousand in 2023, representing a decline of approximately 19.7%[26] - Segment profit for the oil and gas equipment engineering and integrated services was RMB 450,711 thousand in 2024, down from RMB 532,312 thousand in 2023, reflecting a decrease of about 15.3%[26] - The company's annual profit attributable to owners decreased to RMB 185,066,000 in 2024 from RMB 254,989,000 in 2023, reflecting a decline of approximately 27%[40] Assets and Liabilities - Non-current assets increased slightly to RMB 1,364,899,000 from RMB 1,363,355,000 in 2023[9] - Current assets decreased significantly to RMB 1,762,217,000 from RMB 2,721,644,000 in 2023[9] - Current liabilities decreased to RMB 858,794,000 from RMB 1,781,239,000 in 2023[10] - Total equity increased to RMB 2,175,401,000 from RMB 2,011,739,000 in 2023[10] - The total assets for the reportable segments decreased to RMB 2,210,471 thousand in 2024 from RMB 3,159,068 thousand in 2023, a reduction of approximately 30%[27] - The total liabilities for the reportable segments also decreased significantly to RMB 811,080 thousand in 2024 from RMB 1,654,273 thousand in 2023, indicating a decline of about 50.9%[27] Revenue Sources - Revenue from construction contracts for 2024 was RMB 1,858,561, a decrease of 21.7% from RMB 2,375,682 in 2023[19] - Revenue from major customer C in the oil and gas sector was RMB 1,078,543 thousand in 2024, down from RMB 1,330,579 thousand in 2023, a decrease of approximately 18.9%[30] - Revenue from the China market (excluding Hong Kong) increased to RMB 558,436 thousand in 2024 from RMB 289,642 thousand in 2023, representing a growth of about 92.9%[28] - The revenue from the oil and gas equipment engineering and integrated services business decreased by approximately 22.47% or about RMB 534,311,000, while the revenue from the new energy and refining equipment engineering and integrated services business increased by approximately 16.10% or about RMB 32,673,000[58] Expenses and Costs - The company reported a bank deposit interest income of RMB 14,673 for 2024, an increase from RMB 13,409 in 2023[23] - The company incurred a financial expense of RMB 10,986 thousand in 2024, a decrease from RMB 20,396 thousand in 2023, reflecting a reduction of approximately 46.1%[27] - The income tax expense for 2024 was RMB 34,986,000, a decrease of 73% compared to RMB 130,587,000 in 2023[36] - Research and development expenses were RMB 78,262,000 in 2024, down from RMB 99,557,000 in 2023, indicating a focus on cost management[38] - Administrative and other operating expenses increased by approximately 34.78% to about RMB 364,903,000 in 2024, with administrative expenses rising by RMB 115,300,000 due to increased employee compensation[63] Dividends and Shareholder Returns - The board of directors did not recommend the payment of a final dividend for the year ending December 31, 2024[6] - The company did not declare a final dividend for the year ending December 31, 2024, consistent with the previous year[39] Compliance and Governance - The company has complied with the Corporate Governance Code, except for a deviation regarding monthly financial updates provided only to specific board members[79] - The board has adopted the standard code for securities trading, confirming compliance by all directors during the reporting year[80] - No purchase, sale, or repurchase of the company's listed securities occurred during the fiscal year ending December 31, 2024[81] - The auditor, Crowe (HK) CPA Limited, has agreed that the financial statements for the year ending December 31, 2024, are consistent with the reported figures[82] Future Outlook and Strategy - The company plans to continue focusing on the oil and gas and new energy sectors for future growth and expansion strategies[26] - The company is actively promoting business transformation and upgrading, focusing on offshore wind power equipment construction as a key development direction for the future[56] - The company plans to initiate the construction of a new dock in Zhuhai to meet the production capacity needs for potential large projects and wind power business construction[57] Operational Efficiency - The company is enhancing its project management and cost control to improve operational efficiency, resulting in higher gross margins for certain projects[60] - The company established a detailed design department in the second half of 2024 to enhance its modular business capabilities and drive strategic transformation towards higher value-added services[54] - The company maintained a zero accident rate for 10 years, achieving a cumulative total of 133 million safe working hours[55] Accounting Standards and Changes - The company anticipates adopting all newly issued accounting standards effective from January 1, 2027, which may significantly impact its accounting policies[17] - The company is evaluating the impact of the new Hong Kong Financial Reporting Standards on its consolidated income statement and cash flow statement[17] - The company expects to fully adopt the new accounting standards in the first accounting period starting on or after their effective dates[17]
巨涛海洋石油服务(03303) - 2024 - 年度业绩