Revenue and Profitability - Revenue increased by 8.7% to approximately RMB 18,854.6 million for the year ended December 31, 2024, compared to RMB 17,352.6 million in 2023[2] - Profit attributable to shareholders increased by 2.7% to approximately RMB 826.0 million, compared to RMB 804.2 million in 2023[2] - Earnings per share were RMB 1.96, up from RMB 1.91 in 2023[2] - The company reported a total comprehensive income of RMB 827.3 million for the year, compared to RMB 811.4 million in 2023[5] - The total operating profit before tax for 2024 was RMB 965,354,000, compared to RMB 916,323,000 in 2023, reflecting an increase of about 5.4%[23] - The gross profit for the industrial aluminum profile segment decreased to RMB 72,299,000 in 2024 from RMB 151,610,000 in 2023, indicating a decline of about 52.3%[21] - The gross profit for the building aluminum profile segment slightly decreased to RMB 1,539,299,000 in 2024 from RMB 1,619,793,000 in 2023, a decrease of approximately 4.9%[21] - The group's gross profit decreased by 11.4% to approximately RMB 1,763.7 million, resulting in a gross margin reduction to 9.4% from 11.5% in the previous year[60] Sales and Volume - Sales volume rose by 6.8% to 809,312 tons, up from 757,480 tons in the previous year[2] - Revenue from aluminum sales was RMB 18,535,655 thousand, up from RMB 16,764,600 thousand in the previous year, reflecting a growth of 10.5%[17] - In 2024, the revenue from aluminum profile manufacturing reached RMB 1,408,653,000, an increase of 26.0% compared to RMB 1,117,887,000 in 2023[35] - Revenue from building aluminum profiles was RMB 16,621.2 million, reflecting a 17.7% growth from RMB 14,121.8 million in the same period of 2023[48] - Revenue from industrial aluminum profiles decreased to RMB 1,914.5 million, down 27.6% from RMB 2,642.8 million in 2023[50] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.64 per ordinary share for the year ended December 31, 2024, unchanged from 2023[2] - The proposed final dividend per share remained at HKD 0.64 for both 2024 and 2023, with total proposed dividends of RMB 247,810,000 for 2024 compared to RMB 243,968,000 for 2023[31] - The company paid dividends to shareholders amounting to RMB 245,629 thousand, an increase from RMB 141,047 thousand in the previous year[9] Assets and Liabilities - Total assets increased to RMB 10,014.1 million from RMB 8,627.0 million in 2023[6] - Current liabilities rose to RMB 6,246.1 million, compared to RMB 4,794.9 million in the previous year[7] - The group reported a total of RMB 5,281,970,000 in trade receivables and other receivables as of December 31, 2024, up 26.0% from RMB 4,191,085,000 in 2023[38] - The group’s trade payables decreased to RMB 1,084,474,000 in 2024 from RMB 1,153,505,000 in 2023, a decline of 6.0%[42] - The group’s total financial liabilities measured at amortized cost increased to RMB 5,195,134,000 in 2024 from RMB 3,784,158,000 in 2023, reflecting a growth of 37.4%[42] Cash Flow and Investments - Net cash generated from operating activities was RMB 1,415.5 million, slightly down from RMB 1,466.6 million in 2023[8] - The company reported a net cash outflow from investing activities of RMB 884,649 thousand, compared to RMB 836,701 thousand in 2023, indicating an increase in investment expenditures[9] - Cash and cash equivalents decreased by RMB 117,036 thousand, ending the year at RMB 2,726,060 thousand, down from RMB 2,840,415 thousand at the beginning of the year[9] - New bank and other borrowings amounted to RMB 1,993,593 thousand, while repayments totaled RMB 2,263,734 thousand, resulting in a net cash outflow from financing activities of RMB 647,877 thousand[9] Operational Efficiency and Costs - Research and development costs for 2024 amounted to RMB 839,561,000, up from RMB 808,426,000 in 2023, representing an increase of approximately 3.9%[27] - The total employee costs for 2024 were RMB 1,188,317,000, an increase from RMB 1,097,199,000 in 2023, reflecting a growth of approximately 8.3%[26] - Distribution costs rose by 6.8% to approximately RMB 399.4 million, accounting for 2.1% of revenue, compared to 2.2% in the previous year[64] - Administrative expenses increased by 2.0% to approximately RMB 447.9 million, representing 2.4% of revenue, down from 2.5% in the previous year[65] Market and Strategic Outlook - The company is currently evaluating the impact of new international financial reporting standards on its future financial statements[14] - The company is expanding its retail business by enhancing its home window and door product line to increase market penetration and brand influence[49] - The company is focusing on digital and automated upgrades in production processes to improve efficiency and reduce costs[51] - The company is actively exploring opportunities in public infrastructure projects, which not only provide revenue growth but also enhance social reputation[49] - The company aims to strengthen partnerships with reputable real estate developers to mitigate financial risks and ensure stable cash flow[48] - The outlook for the real estate industry in 2025 suggests stabilization, driven by government policies, which may positively impact the aluminum profile market[56] - The company maintains a cautiously optimistic view on the long-term development of the aluminum profile industry, despite short-term pressures[58] Financial Reporting and Audit - The audit committee, composed of independent non-executive directors, reviewed the group's financial reporting procedures and internal controls[98] - Deloitte has verified the financial data disclosed in the preliminary announcement for the year ended December 31, 2024, but did not provide an assurance conclusion[99]
兴发铝业(00098) - 2024 - 年度业绩