Financial Performance - The company's revenue for the fiscal year ending December 31, 2024, was approximately RMB 50.34 billion, representing a growth of about 24.7% compared to RMB 40.37 billion in the previous year[4]. - The gross profit for the fiscal year was approximately RMB 3.49 billion, down from RMB 3.60 billion in the previous year[4]. - The net profit attributable to shareholders was approximately RMB 290 million, compared to RMB 348 million in the previous year[4]. - Basic earnings per share for the year were RMB 0.26, down from RMB 0.31 in the previous year[4]. - The board proposed a final dividend of HKD 0.043 per share, down from HKD 0.053 per share in the previous year, with a total distribution of approximately HKD 47.5 million compared to HKD 58.5 million last year[4]. - The company reported a significant increase in revenue from CNY 3,411,077 thousand in 2023 to CNY 2,418,960 thousand in 2024, a decrease of approximately 29%[6]. - The company reported a net profit of RMB 531,067,000 for 2024, which is a significant drop from the previous year's profit of RMB 754,824,000, indicating a decline of around 29.6%[30]. - The company's pre-tax profit for the year 2024 was RMB 531,067,000, compared to RMB 754,824,000 in 2023, representing a decrease of approximately 29.6%[30]. - The income tax expense for 2024 was RMB 106,157 thousand, compared to RMB 224,310 thousand in 2023, reflecting a significant reduction of about 52.7%[27]. Assets and Liabilities - Total non-current assets decreased from CNY 6,637,978 thousand in 2023 to CNY 6,512,314 thousand in 2024, a decline of approximately 1.9%[6]. - Current assets increased from CNY 15,154,505 thousand in 2023 to CNY 17,332,180 thousand in 2024, representing a growth of about 14.4%[6]. - The company's total assets amounted to CNY 23,844,460 thousand in 2024, compared to CNY 21,792,983 thousand in 2023, reflecting an increase of about 9.4%[6]. - The company's total liabilities increased from CNY 10,000,000 thousand in 2023 to CNY 11,000,000 thousand in 2024, indicating a rise of 10%[6]. - The company reported total liabilities of RMB 13,669,344 thousand for the year ending December 31, 2024, compared to RMB 12,853,207 thousand in the previous year, reflecting an increase of approximately 6.35%[7]. - The company's total current liabilities increased to RMB 11,616,192 thousand from RMB 11,582,586 thousand, which is a slight increase of approximately 0.29%[7]. - The company's total current assets were reported at RMB 3,662,836 thousand, compared to RMB 2,301,298 thousand, representing a significant increase of approximately 59.06%[7]. Revenue Streams - The total revenue from recyclable materials reached CNY 22,403,865 thousand in 2024, compared to CNY 14,706,626 thousand in 2023, marking an increase of approximately 52.5%[19]. - The sales of lead-acid batteries for electric vehicles reached CNY 18,479,431 thousand in 2024, up from CNY 16,459,759 thousand in 2023, indicating a growth of about 12.3%[19]. - Lithium-ion battery sales increased to CNY 263,824 thousand in 2024 from CNY 217,249 thousand in 2023, reflecting a growth of approximately 21.5%[19]. - Sales revenue from electric bicycle batteries was approximately RMB 18.479 billion, representing about 36.7% of the total revenue[53]. - Sales revenue from lithium-ion battery products amounted to approximately RMB 264 million[53]. Research and Development - The group invested approximately RMB 1.379 billion in R&D, accounting for about 2.7% of total revenue, emphasizing its commitment to technological innovation[61]. - The research and development costs recognized as expenses were RMB 1,378,749 thousand in 2024, an increase from RMB 1,213,781 thousand in 2023, indicating a growth of approximately 13.6%[24]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance in accordance with the interests of shareholders[85]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and risk management[87]. - The group plans to apply the newly issued and amended International Financial Reporting Standards once they become effective[13]. Market Trends and Strategy - The demand for high-quality electric vehicle batteries is increasing due to the implementation of new safety standards in China[43]. - The electric bicycle market in China is projected to reach a social ownership of 400 million units by the end of 2024, with annual sales expected to exceed 70 million units[49]. - The company aims to expand its overseas market presence and build a global new energy platform as part of its "going out" strategy[46]. - The lead-acid battery market remains stable, supported by the growing demand in the electric bicycle sector due to its cost-effectiveness and high safety standards[52]. Employee and Operational Metrics - The total employee costs, including salaries and benefits, amounted to RMB 1,575,950 thousand in 2024, a decrease from RMB 1,757,326 thousand in 2023[24]. - The total employee cost for the year was approximately RMB 1,780,933,000, with a workforce of 14,484 employees as of December 31, 2024, down from 16,977 in 2023[81]. Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.043 per share for the year ending December 31, 2024, compared to HKD 0.066 per share for the previous year, which is a decrease of approximately 34.8%[33]. - The company plans to declare a final dividend of HKD 0.043 per share, subject to shareholder approval at the annual general meeting[90]. - The annual report will be sent to shareholders and published on the stock exchange and the company's website[91]. - The company expresses gratitude to its shareholders, customers, business partners, and employees for their support and contributions[92].
超威动力(00951) - 2024 - 年度业绩