Financial Performance - Revenue for the year ended December 31, 2024, was RMB 677.6 million, an increase of 5.6% compared to 2023[4] - Gross profit for the same period was RMB 298.0 million, reflecting a 5.4% increase from 2023, with a gross margin of 44.0% consistent with the previous year[4] - Profit for the year was RMB 161.4 million, representing a significant increase of 57.8% compared to 2023[4] - Basic earnings per share for the year were RMB 0.8028, up 18.7% from 2023, while diluted earnings per share increased by 17.7% to RMB 0.7943[4] - Adjusted net profit, defined as net profit after adding back listing expenses and share-based compensation, was approximately RMB 155.6 million, a growth of 0.8% from RMB 154.4 million in 2023[4] - Total comprehensive income for the year was RMB 164.3 million, compared to RMB 102.1 million in 2023, showing a strong growth trajectory[6] - The net income attributable to ordinary shareholders for 2024 was RMB 160,306 thousand, up from RMB 101,423 thousand in 2023, reflecting a significant increase of approximately 58.06%[31] - The net profit for the year 2024 is RMB 161,407,000, an increase from RMB 102,323,000 in 2023, representing a growth of 57.7%[77] Revenue Breakdown - Revenue from vehicle monitoring services was RMB 612,471 thousand, up 6.51% from RMB 574,992 thousand in 2023[14] - Revenue from automotive dealer operation management services decreased to RMB 65,156 thousand, down 2.43% from RMB 66,778 thousand in 2023[14] - Revenue from pledged vehicle monitoring services was RMB 612.5 million, accounting for 90.4% of total revenue, with a growth rate of 6.5% compared to the previous year[56] - Revenue from automotive dealer operation management services decreased to RMB 65.1 million, representing 9.6% of total revenue, primarily due to a reduction in the number of managed automotive dealers and their profitability[57] Expenses and Costs - Total operating expenses for 2024 were RMB 118,984 thousand, a decrease from RMB 132,962 thousand in 2023, showing a reduction of approximately 10.52%[25] - The total cost of outsourced services increased to RMB 335,993 thousand in 2024 from RMB 317,363 thousand in 2023, representing an increase of approximately 5.89%[26] - General and administrative expenses decreased by 23.1% to RMB 110.3 million, mainly due to reduced listing expenses and share-based payment costs[69] - Sales and marketing expenses remained stable at RMB 6.2 million for the reporting period, compared to RMB 6.1 million in the previous year[67] Financial Position - Total assets less current liabilities amounted to RMB 495.6 million, a significant increase from RMB 141.9 million in 2023, reflecting improved financial health[8] - The group reported contract liabilities of RMB 29,548 thousand for 2024, a decrease of 32% from RMB 43,400 thousand in 2023[18] - The total liabilities decreased to RMB 62.919 million in 2024 from RMB 85.924 million in 2023, a reduction of 26.8%[36] - The leverage ratio as of December 31, 2024, is zero, a significant decrease from 14.1% in 2023[84] Dividend and Shareholder Matters - The board proposed a final dividend of HKD 0.69 per share for the year, totaling HKD 139.49 million, subject to shareholder approval[4] - The company plans to distribute a final dividend of HKD 0.69 per share, amounting to approximately HKD 139.5 million, which has not yet been recognized as a liability[37] - The annual general meeting is scheduled for May 27, 2025, to discuss shareholder matters[106] - The company will temporarily suspend share transfer registration from May 22 to May 27, 2025, to determine eligible shareholders for voting at the annual general meeting[107] Strategic Developments - The company successfully listed on the Hong Kong Stock Exchange on January 9, 2024, raising approximately HKD 254.1 million net of listing expenses[4] - The company has established a new subsidiary, Beijing Changjiu Huilian Technology Co., Ltd., with a registered capital of RMB 50 million to explore new business opportunities[39] - The group successfully launched the "Jiu Che GO" automotive supply chain service platform, which serves 51,000 registered automotive dealers and covers 1,047 county-level markets as of December 31, 2024, with plans to expand to all county-level markets by 2025[44] - The group aims to strengthen platform construction and enhance digitalization and AI applications as key focus areas for 2025[46] Research and Development - Research and development expenses for the year were RMB 17.4 million, compared to RMB 13.5 million in 2023, indicating an increase in investment in innovation[5] - R&D expenses rose by 28.9% to RMB 17.4 million, driven by an increase in R&D personnel and consulting fees related to the Polaris system[68] - The group plans to deepen its data products and services, leveraging AI and machine learning to enhance financial risk prediction models and market operational analysis models[50] Compliance and Governance - The group’s financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[10] - The audit committee has reviewed the annual performance and financial statements, ensuring compliance with accounting principles and internal controls[103] - The company’s financial statements for the year ending December 31, 2024, have been audited and confirmed to be accurate by the auditor[104] - The company has adopted and complied with all applicable corporate governance codes since its listing date[96]
长久股份(06959) - 2024 - 年度业绩