Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was approximately RMB 6,270.74 million, a decrease of 21.76% compared to RMB 8,015.21 million in 2023[4] - The net profit attributable to equity shareholders for the fiscal year was approximately RMB 2,019.56 million, down 18.03% from RMB 2,463.71 million in 2023[4] - The main net profit attributable to equity shareholders, excluding profits from joint ventures, was approximately RMB 703.50 million, a decrease of 12.20% from RMB 801.24 million in 2023[4] - The group's gross profit for the fiscal year was approximately RMB 2,175.42 million, compared to RMB 2,178.71 million in 2023[5] - The operating profit for the fiscal year was approximately RMB 1,641.39 million, down from RMB 1,937.55 million in 2023[5] - The total comprehensive income attributable to equity shareholders for the fiscal year was approximately RMB 1,981.46 million, compared to RMB 2,149.66 million in 2023[7] - The basic earnings per share for the fiscal year was RMB 1.17, down from RMB 1.36 in 2023[5] - The group reported a total comprehensive income of RMB 2,081.01 million for the fiscal year, compared to RMB 2,368.67 million in 2023[7] - The reportable segment's profit before tax for 2024 was RMB 2,249,669,000, compared to RMB 2,872,104,000 in 2023, indicating a decrease of about 21.7%[25] - The company's profit before tax for 2024 is CNY 2,249,669,000, compared to CNY 2,872,104,000 for 2023, indicating a decrease of approximately 21.7%[38] Revenue Breakdown - Revenue from waste disposal projects under BOT arrangements with local government institutions amounted to RMB 2,317,185,000, down from RMB 3,810,860,000 in 2023, representing a decline of about 39.1%[18] - Revenue recognized over time was RMB 5,192,613,000, compared to RMB 6,255,792,000 in 2023, indicating a decrease of approximately 17.0%[19] - The waste disposal segment generated revenue of RMB 3,689,254,000, an increase from RMB 3,239,085,000 in the previous year, reflecting a growth of about 13.9%[18] - The new energy business reported revenue of RMB 289,664,000, significantly up from RMB 104,693,000 in 2023, marking an increase of approximately 176.5%[18] - The company’s total income from customer contracts was RMB 6,056,305,000, down from RMB 7,791,096,000 in 2023, representing a decrease of approximately 22.2%[19] - Revenue from external customers in the port segment was RMB 5,696,661,000 for 2024, down from RMB 7,583,707,000 in 2023, a decline of approximately 24.9%[22] - The logistics services segment reported revenue of RMB 182,353,000 in 2024, compared to RMB 208,660,000 in 2023, reflecting a decrease of about 12.6%[22] - The new materials segment generated revenue of RMB 102,059,000 in 2024, a slight increase from RMB 118,151,000 in 2023, representing a decrease of approximately 13.6%[22] - Revenue from energy-saving equipment dropped significantly by 42.72% year-on-year to RMB 817.83 million, due to a reduction in orders[72] - Revenue from the Chinese mainland accounted for 95.10% of total revenue, totaling RMB 5,963.64 million, down 16.91% year-on-year[74] Dividend and Shareholder Information - The board proposed a final cash dividend of HKD 0.30 per share, with a total annual dividend of HKD 0.40 per share, including a special dividend announced in September 2024[4] - The proposed final dividend per ordinary share is HKD 0.30 for 2024, up from HKD 0.20 in 2023, which is a 50% increase[42] - The total dividend payment for 2024 is approximately HKD 537,612,000, equivalent to about CNY 497,829,000, compared to HKD 361,989,000 (CNY 328,042,000) in 2023, indicating a rise of around 51.6%[42] - The annual general meeting of shareholders is scheduled for June 25, 2025, to discuss the proposed dividend and other matters[106] - The company will temporarily suspend share registration procedures from June 18, 2025, to June 25, 2025, to determine shareholder eligibility for voting at the annual general meeting[107] - A temporary suspension of share registration will also occur from July 7, 2025, to July 11, 2025, to determine eligibility for the final dividend[108] - The company repurchased a total of 17,904,500 shares during the reporting period, with a total cost of HKD 97,025,815[110] Assets and Liabilities - Total assets increased to RMB 76,074,770 thousand in 2024 from RMB 74,012,694 thousand in 2023, representing a growth of approximately 2.8%[11] - Non-current assets rose to RMB 74,510,651 thousand in 2024, compared to RMB 72,338,065 thousand in 2023, indicating an increase of about 3.0%[10] - Current liabilities decreased to RMB 6,251,413 thousand in 2024 from RMB 6,447,685 thousand in 2023, reflecting a decline of approximately 3.0%[11] - Total equity increased to RMB 49,176,632 thousand in 2024, up from RMB 47,752,718 thousand in 2023, marking a growth of around 3.0%[11] - The company's total liabilities increased to RMB 26,898,138 thousand in 2024 from RMB 26,259,976 thousand in 2023, representing a growth of about 2.4%[11] - Total assets as of December 31, 2024, were RMB 82,326,183,000, compared to RMB 80,460,379,000 in 2023, showing an increase of about 2.3%[26] - Total liabilities as of December 31, 2024, were RMB 33,149,551,000, compared to RMB 32,707,661,000 in 2023, indicating an increase of approximately 1.3%[26] Cash Flow and Financing - The net cash generated from operating activities during the reporting period was RMB 2,024.50 million, an increase of RMB 38.74 million year-on-year, mainly due to increased revenue from waste-to-energy projects[86] - The net cash used in investing activities was RMB 2,427.03 million, a decrease of RMB 2,147.35 million year-on-year, primarily due to reduced investment expenditures during the reporting period[87] - The net cash used in financing activities was RMB 423.24 million, an increase of RMB 1,801.41 million year-on-year, mainly due to a decrease in net proceeds from bank loans and the issuance of medium-term notes raising RMB 2.7 billion in 2023[88] - As of December 31, 2024, the group's bank loan balance was RMB 25,515.06 million, an increase of RMB 1,193.86 million compared to the end of the previous year, primarily due to new bank loans added during the reporting period[84] Operational Highlights - The company has signed 131 projects across 23 provinces and municipalities, including 101 waste-to-energy projects[56] - The company aims to enhance project operation quality and has completed price adjustment work for 6 waste disposal projects[57] - The company has achieved significant operational efficiency improvements in its waste disposal business through lean management practices[55] - The company is focusing on green and low-carbon development, aligning with national policies for sustainable economic growth[54] - The company has implemented various business strategies to enhance operational efficiency and reduce costs in the new energy materials sector[55] - The company has established a comprehensive management system for lithium battery recycling and resource utilization[55] - The group received approximately 1,835.7 million tons of municipal waste, representing a year-on-year increase of 15%[58] - The group processed approximately 1,570.8 million tons of municipal waste, also reflecting a year-on-year growth of 15%[58] - The online electricity generation reached approximately 5.12 billion kWh, marking a 15% increase compared to the previous year[58] - The average annual electricity generation per ton was approximately 326 kWh[58] Employee and Compensation - As of December 31, 2024, the total number of employees is 6,607, an increase from 6,225 employees on December 31, 2023, representing a growth of approximately 6.1%[99] - Total employee compensation, including director remuneration, amounted to approximately RMB 855.3 million for the reporting period, up from RMB 702.5 million in 2023, reflecting an increase of about 21.7%[99] Taxation and Compliance - The effective tax rate for the company's subsidiaries in China is 25%, with some qualifying companies benefiting from a reduced rate of 15%[37] - The company has recognized a provision for current tax in China of RMB 119,290,000 for 2024, compared to RMB 224,199,000 in 2023[34] - The company confirmed compliance with corporate governance standards as per the Listing Rules during the reporting period[113] Future Outlook - The company plans to deepen its focus on core business and enhance efficiency in 2025, aiming to improve its core competitiveness and ensure shareholder interests[101] - The company is committed to enhancing its core management advantages in waste-to-energy operations, aiming to improve operational efficiency and cash flow[102] - The new energy materials business will focus on high-end product R&D and market expansion, with an emphasis on optimizing processes and exploring partnerships with battery manufacturers[103] - The port logistics business will integrate internal and external resources to expand quality customer channels and ensure stable growth[104]
海螺创业(00586) - 2024 - 年度业绩