Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 1,829,233,000, a decrease of 0.1% compared to RMB 1,838,010,000 in 2023[5]. - The gross profit for the same period was RMB 145,193,000, down 14.2% from RMB 169,323,000 in the previous year[5]. - The net loss for the year was RMB 265,045,000, compared to a net loss of RMB 99,947,000 in 2023, indicating a significant increase in losses[6]. - The basic loss per share was RMB 0.1291, compared to RMB 0.3400 in the previous year[5]. - The pre-tax loss for 2024 was RMB (296,797,000), compared to RMB (99,676,000) in 2023, indicating a worsening financial performance[31]. - The actual income tax expense for 2024 was RMB (31,752,000), compared to RMB 271,000 in 2023, showing a significant increase in tax liabilities[31]. - The basic loss per share for 2024 was RMB 265,908,000, compared to RMB 100,964,000 in 2023, indicating a substantial increase in losses attributable to shareholders[34]. - The group recorded a loss of approximately RMB 265.0 million in 2024, compared to a loss of RMB 99.9 million in 2023, with a net margin decline from -5.4% to -14.5%[67]. Revenue Breakdown - Revenue from smart transportation business reached RMB 435.2 million in 2024, while smart buildings and parks generated RMB 720.3 million, and smart energy brought in RMB 673.8 million[22]. - The smart energy segment experienced a decline in revenue from RMB 822.5 million in 2023 to RMB 673.8 million in 2024, reflecting a decrease of approximately 18.1%[22]. - The reported revenue for the smart transportation business in 2024 was RMB 435,196,000, a decrease from RMB 467,056,000 in 2023, representing a decline of approximately 6%[27]. - Revenue from the smart building and park segment was RMB 720,259 thousand, accounting for 39.4% of total revenue, down from 25.4% in the previous year[55]. - The smart energy segment achieved revenue of approximately RMB 673.8 million in 2024, representing a growth of 22.9% from RMB 548.4 million in the previous year, driven by technological innovations and market expansion in the heating sector[58]. - The smart transportation segment recorded revenue of approximately RMB 435.2 million in 2024, a decrease of 6.8% compared to RMB 467.1 million in 2023, primarily due to project bidding adjustments and delayed construction plans in the first half of the year[56]. - Revenue from the smart building and park segment fell by 12.4% year-on-year to approximately RMB 720.3 million in 2024, down from RMB 822.5 million in 2023, amid ongoing market investment challenges[57]. Assets and Liabilities - Total assets as of December 31, 2024, were RMB 4,497,478,000, compared to RMB 4,486,800,000 in 2023, showing a slight increase[12]. - Current liabilities increased to RMB 2,887,395,000 from RMB 2,609,652,000 in the previous year, reflecting a rise of 10.6%[11]. - The company reported a significant increase in trade and other receivables, which rose to RMB 1,687,280,000 from RMB 976,224,000, marking a growth of 72.6%[10]. - Trade and other receivables amounted to approximately RMB 1,801.6 million, a decrease of 3.4% from RMB 1,864.6 million in the previous year, with an average trade receivables turnover period increasing from 290 days to 329 days[69]. - Trade payables and notes payable totaled RMB 2,175,946 thousand in 2024, compared to RMB 2,042,991 thousand in 2023[38]. - Trade and other payables increased by 8.0% to approximately RMB 2,400.3 million, with the average trade payables turnover period rising from 387 days to 437 days[70]. Operational Efficiency and Strategic Initiatives - The board of directors has emphasized the importance of strategic initiatives to improve operational efficiency and reduce losses moving forward[4]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[4]. - The company plans to enhance project gross margin levels and strengthen project settlement and collection management for sustainable development[42]. - The group aims to enhance brand value and competitiveness through innovation and resource integration[52]. - The group plans to deepen market collaboration with internal business units to drive sustainable development[52]. Employee and Operational Metrics - Employee costs for 2024 were RMB 168,497,000, down from RMB 206,622,000 in 2023, representing a reduction of about 18%[30]. - The total employee count increased from 665 to 669, while total employee costs decreased from approximately RMB 206.6 million to RMB 168.5 million[78]. - The group successfully completed the seamless migration of the integrated monitoring system cloud platform for Wuhan Metro Line 11, enhancing operational management efficiency[43]. - In the Changchun rail transit market, the company secured multiple projects, achieving comprehensive coverage of the integrated monitoring system market[44]. - The company expanded its regional rail transit market by successfully delivering integrated monitoring equipment for the Hangzhou to Deqing railway project[45]. Financial Reporting and Compliance - The group has not applied any new accounting standards or interpretations that have not yet come into effect during the current accounting period[19]. - The group’s financial statements are prepared using historical cost conventions, with estimates and assumptions based on past experiences and other relevant factors[18]. - The group has implemented revisions to Hong Kong Financial Reporting Standards, which did not have a significant impact on the group's financial performance or position during the reporting period[19]. - The audit committee reviewed the consolidated performance for the year ending December 31, 2024, ensuring compliance with applicable accounting standards and regulations[91]. - The company has adopted the standard code for directors' securities trading and confirmed compliance throughout the fiscal year[83]. Market Focus and Investments - The company has not reported any significant operational activities outside of China, indicating a focus on the domestic market[29]. - The company did not engage in any significant acquisitions or disposals of subsidiaries or joint ventures during the year[80]. - No significant investments were made by the company as of December 31, 2024[81]. - The company did not conduct any fundraising activities through the issuance of equity securities[84]. - The company did not buy, sell, or redeem any of its listed securities during the fiscal year[86]. Dividends and Shareholder Information - The company has not declared or paid dividends for the fiscal years 2024 and 2023[40]. - The company did not declare any dividends for the fiscal year ending December 31, 2023[87]. - The company held zero treasury shares as of December 31, 2024[85]. - The company will hold its annual general meeting on June 17, 2025[89]. - The board of directors held only two regular meetings during the year, despite the requirement for at least four meetings[82].
同方泰德(01206) - 2024 - 年度业绩