Financial Performance - The company reported a revenue of RMB 8.658 billion for the year ended December 31, 2024, a decrease of RMB 1.704 billion or 16.44% compared to RMB 10.362 billion in the previous year[3][8][11]. - Net profit for the year was RMB 533 million, down RMB 377 million or 41.43% from RMB 910 million in the previous year[3][8][11]. - The gross profit margin for the year was approximately 18.00%, down from 18.19% in the previous year[10]. - The group achieved a gross profit of RMB 1.559 billion for the year ended December 31, 2024, a decrease of RMB 327 million or 17.34% compared to RMB 1.886 billion in the previous year, with a gross margin of 18.01%[17]. - Other income for the group was RMB 405 million, down RMB 12 million or 2.88% from RMB 417 million in the previous year, primarily due to a decrease in interest income[18]. - Other gains decreased significantly to RMB 12 million, down RMB 276 million or 95.83% from RMB 288 million in the previous year, mainly due to the absence of equity disposal gains[19]. - The company reported a net profit of RMB 533 million for the year ended December 31, 2024, a decrease of RMB 377 million or 41.43% from RMB 910 million in the previous year[25]. - Basic and diluted earnings per share decreased to RMB 0.38 from RMB 0.65 in 2023[67]. - The total income tax expense for the year ended December 31, 2024, was RMB 100,208,000, compared to RMB 107,454,000 for 2023, indicating a decrease of 6.2%[93]. Revenue Breakdown - The design, surveying, and consulting business generated revenue of RMB 4.383 billion, a decrease of RMB 484 million or 9.94% from RMB 4.867 billion in 2023[5][14]. - The engineering contracting business reported revenue of RMB 4.275 billion, down RMB 1.220 billion or 22.20% from RMB 5.495 billion in the previous year[5][15]. - Revenue from external customers in China decreased to RMB 8,586,787 thousand in 2024 from RMB 10,342,325 thousand in 2023, representing a decline of 17%[82]. - The engineering contracting segment generated revenue of RMB 4,603,072 thousand in 2024, down from RMB 5,495,140 thousand in 2023, a decrease of 16.2%[81]. - The adjusted profit before tax for the design, surveying, and consulting segment was RMB 479,868 thousand in 2024, compared to RMB 830,773 thousand in 2023, reflecting a decline of 42.2%[80]. - Total customer contract revenue for the year ended December 31, 2024, was RMB 8,621,594,000, a decrease of 16.7% from RMB 10,350,313,000 for the year ended December 31, 2023[87]. Assets and Liabilities - Total assets as of December 31, 2024, were RMB 24.542 billion, a slight decrease from RMB 24.850 billion in 2023[7]. - Total liabilities decreased to RMB 16.609 billion from RMB 17.221 billion in the previous year[7]. - Total assets as of December 31, 2024, amounted to RMB 24,541,927 thousand, slightly down from RMB 24,849,539 thousand in 2023[81]. - Non-current liabilities increased to RMB 5,547,513,000 from RMB 5,222,985,000 in 2023[70]. - The company reported a net asset value of RMB 7,933,407,000, up from RMB 7,628,615,000 in 2023[70]. Operational Highlights - The company established ten marketing centers nationwide to enhance market expansion and resource integration[8]. - The company continues to focus on urban rail transit projects, securing contracts for six major design projects in Beijing and Shenzhen[14]. - The company won contracts totaling RMB 7.824 billion as of December 31, 2024, with RMB 2.989 billion from design, surveying, and consulting, and RMB 4.835 billion from general contracting[41]. - The total amount of contracts on hand reached RMB 24.947 billion by the end of the reporting period[41]. - In 2024, a total of 953.04 kilometers of new urban rail transit lines were added, with the company winning bids for 6 out of 14 total design contracts, ranking first in the industry[47]. Strategic Initiatives - The company plans to strengthen its position in the rail transit design industry and explore new market potentials in urban renewal and other sectors in 2025[37]. - The company is actively developing new businesses in urban renewal, new energy, and municipal infrastructure, aiming for breakthroughs in these emerging fields[39]. - The company is exploring the EPC model for project management to integrate design consulting and engineering management services[38]. - The company is expanding its overseas business in the "Belt and Road" initiative and Southeast Asian markets[39]. - The company plans to enhance its management foundation by improving strategic leadership, resource allocation, and risk control[40]. Market Conditions and Future Outlook - The company anticipates a slowdown in the growth rate of the rail transit construction sector in China by 2025 due to increased competition and economic pressures[58]. - By 2027, significant progress is expected in the construction of new urban infrastructure to enhance urban resilience and risk management capabilities[45]. - The surveying and mapping industry is undergoing digital transformation, with high-precision surveying technologies significantly improving data collection and analysis efficiency[49]. - By 2025, the surveying and mapping industry is expected to continue growing, driven by technological advancements and policy support, despite facing intense market competition[50]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules during the reporting period[63]. - The audit committee has reviewed the group's annual performance and the consolidated financial statements prepared in accordance with international financial reporting standards[65]. - The financial statements were prepared in accordance with International Financial Reporting Standards and reflect the company's commitment to transparency[73]. Dividend and Shareholder Information - The company plans to distribute a final dividend of RMB 0.1077 per share, pending shareholder approval at the annual general meeting on June 16, 2025[60]. - The proposed final dividend for the year ended December 31, 2024, is RMB 0.1077 per share, down from RMB 0.1724 per share in 2023, a reduction of 37.5%[94]. - The company has not purchased, sold, or redeemed any of its securities during the reporting period[61]. - The company has no treasury shares as of December 31, 2024[62]. - The company is taking appropriate measures to restore the public float level, which fell to 23.69% after a share transfer in 2018[63].
城建设计(01599) - 2024 - 年度业绩