Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 18,016,358 thousand, an increase of 5.08% compared to RMB 17,145,992 thousand for the year ended December 31, 2023[3]. - The net loss attributable to the company's shareholders was RMB 1,374,142 thousand, representing an increase of 118.10% from RMB 630,045 thousand in the previous year[3]. - Basic loss per share was RMB 1.55, compared to RMB 0.84 for the year ended December 31, 2023[3]. - The group reported a net loss before tax of RMB 1,404,183 for the year ended December 31, 2024, compared to a loss of RMB 661,080 in 2023[17]. - The net loss for the year ended December 31, 2024, was RMB 1,406,214 thousand, an increase of RMB 740,189 thousand or 111.14% compared to a net loss of RMB 666,025 thousand for the year ended December 31, 2023[38]. - The company's gross profit for the year ended December 31, 2024, was RMB 670,911 thousand, a decrease of RMB 110,440 thousand or 14.13% from RMB 781,351 thousand for the year ended December 31, 2023[43]. - The overall gross margin decreased from 4.56% for the year ended December 31, 2023, to 3.72% for the year ended December 31, 2024, due to increased market competition[43]. Assets and Liabilities - The total assets less current liabilities amounted to RMB 268,513 thousand, an increase from RMB 214,973 thousand in the previous year[8]. - Current assets totaled RMB 10,061,524 thousand, up from RMB 7,985,467 thousand in 2023[7]. - The company's cash and cash equivalents increased significantly to RMB 3,309,731 thousand from RMB 717,266 thousand in the previous year[7]. - The company's inventory rose to RMB 386,526 thousand, compared to RMB 331,484 thousand in 2023[7]. - Non-current liabilities totaled RMB 177,255 thousand, slightly up from RMB 170,993 thousand in the previous year[8]. - The company's net assets increased to RMB 91,258 thousand from RMB 43,980 thousand in 2023[8]. - As of December 31, 2024, the group's current liabilities net amount is RMB 65,938,000, a decrease from RMB 131,748,000 in 2023[11]. - Trade receivables decreased to RMB 2,732,370 thousand in 2024 from RMB 2,824,061 thousand in 2023, while the net value of trade receivables was RMB 1,510,741 thousand[22]. - The total amount of trade receivables as of December 31, 2024, was RMB 2,732,370 thousand, a decrease of RMB 91,691 thousand or 3.25% from RMB 2,824,061 thousand as of December 31, 2023[54]. - The total value of trade payables as of December 31, 2024, was RMB 927,001 thousand, compared to RMB 413,067 thousand as of December 31, 2023[36]. - Trade payables and notes payable as of December 31, 2024, amounted to RMB 927,001 thousand, an increase of RMB 513,934 thousand or 124.42% from RMB 413,067 thousand on December 31, 2023, driven by expanded business scale and increased procurement[61]. - Other payables and accrued expenses decreased to RMB 470,484 thousand as of December 31, 2024, down by RMB 180,745 thousand or 27.75% from RMB 651,229 thousand on December 31, 2023, mainly due to a reduction in other payables with certain customers and suppliers[62]. Impairment and Credit Losses - The impairment loss for trade receivables increased to RMB 1,225,249 thousand in 2024 from RMB 822,480 thousand in 2023[25]. - The expected credit loss rate for unsecured trade receivables was 50.1% as of December 31, 2024, with total expected credit losses amounting to RMB 1,036,453 thousand[29]. - Other receivables decreased to RMB 1,267,245 thousand in 2024 from RMB 1,663,882 thousand in 2023, with an impairment provision of RMB 835,888 thousand at year-end[30]. - The company recognized impairment losses of approximately RMB 668,000 thousand for other receivables from third-party franchisees, suppliers, and customers[31]. - The company reported a significant increase in impairment losses for secured other receivables, with provisions rising to RMB 265,000 thousand in 2024 from RMB 186,000 thousand in 2023[27]. - The impairment loss provision for secured receivables was RMB 454 million for the year, compared to RMB 278 million in the previous year, reflecting a significant increase in potential credit losses[58]. Dividends and Governance - The company did not recommend the payment of a final dividend for the year ended December 31, 2024[4]. - No final dividend is recommended for the fiscal year ending December 31, 2024[81]. - Dixin has adopted the corporate governance code as per the Hong Kong Stock Exchange and has complied with most of its best practice recommendations during the fiscal year[82]. - The company is committed to continuously improving its corporate governance practices to ensure compliance with the governance code[82]. - The audit committee reviewed the accounting principles and practices adopted by the group and approved the annual performance announcement for the fiscal year ending December 31, 2024[85]. - The audited annual performance announcement and the 2024 annual report will be published on the respective websites of the Hong Kong Stock Exchange and the company[86]. - The board of directors is led by Chairwoman Xu Jili, who also serves as the CEO, a dual role deemed beneficial for operational efficiency[82]. Future Plans and Strategies - For 2025, the company aims to deepen its core 3C business and enhance operational efficiency through channel collaboration and online-offline integration, focusing on expanding its market presence and improving profitability[77]. - Dixin's strategy focuses on mobile phones while expanding into IoT categories such as PCs and smart home appliances, aiming to enhance user engagement and explore new growth points[78]. - By 2025, Dixin plans to scale its residential photovoltaic business and enter the commercial photovoltaic market, leveraging partnerships to optimize project operations and increase profitability[79]. - The company aims to reduce costs and improve efficiency through inventory management and financial integration, enhancing resource allocation and operational effectiveness by 2025[80].
迪信通(06188) - 2024 - 年度业绩