Financial Performance - For the year ending December 31, 2024, the company reported a consolidated revenue of RMB 824.05 million, an increase of 5.0% compared to RMB 785.00 million in the previous year[4]. - The profit before tax surged by 366.9%, rising from RMB 3.37 million in 2023 to RMB 15.74 million in 2024[5]. - The basic and diluted earnings per share for 2024 were RMB 2.83, compared to RMB 0.16 in 2023[5]. - The gross profit for 2024 was RMB 59.19 million, up from RMB 41.69 million in 2023, reflecting a significant improvement in profitability[5]. - Total revenue for the reportable segments reached RMB 825,865,000 in 2024, compared to RMB 789,104,000 in 2023, indicating a growth of about 4.7%[27]. - Reported segment revenue for 2024 was RMB 825,865,000, an increase of 4.4% from RMB 789,104,000 in 2023[28]. - The company's EBITDA increased by 30.2% to RMB 113.66 million in 2024, up from RMB 87.31 million in 2023, attributed to the operational success of the Lingang project and growth in renewable energy generation[76]. - The net profit attributable to the parent company surged by 1,655.8% to RMB 4.53 million in 2024, compared to RMB 0.26 million in 2023, mainly due to the same factors as above[80]. Assets and Liabilities - The company's total assets less current liabilities increased to RMB 736.01 million in 2024 from RMB 696.94 million in 2023[6]. - Non-current liabilities rose to RMB 270.37 million in 2024, compared to RMB 238.15 million in 2023, indicating increased leverage[7]. - The total assets decreased to RMB 1,070,774,000 in 2024 from RMB 1,089,093,000 in 2023, a decline of 1.7%[28]. - Total liabilities decreased to RMB 605,133,000 in 2024 from RMB 630,302,000 in 2023, a reduction of 4.0%[29]. - Reportable segment assets totaled RMB 911,812,000 in 2024, slightly down from RMB 913,377,000 in 2023[27]. - Reportable segment liabilities decreased to RMB 165,351,000 in 2024 from RMB 261,833,000 in 2023, a reduction of approximately 37%[27]. Cash Flow and Investments - The net cash and cash equivalents decreased to RMB 128.80 million in 2024 from RMB 144.31 million in 2023, reflecting cash flow challenges[6]. - Cash and cash equivalents decreased from RMB 144,307 thousand in 2023 to RMB 128,795 thousand in 2024, a decline of 10.7%[50]. - The company completed the acquisition of 95% equity in Yangzhou Qingchang for a total consideration of RMB 15.37 million on February 2024[87]. - The group has a total of RMB 421.79 million in loans and borrowings, with RMB 26.60 million being fixed-rate loans and RMB 15.58 million being floating-rate loans[91]. Revenue Segments - Revenue from electricity distribution increased to RMB 220,582,000 in 2024 from RMB 195,815,000 in 2023, representing an increase of approximately 12.5%[20]. - Revenue from energy production and supply rose to RMB 563,723,000 in 2024, up from RMB 551,152,000 in 2023, reflecting a growth of about 2.9%[20]. - Solar power generation and sales revenue surged to RMB 8,188,000 in 2024, compared to RMB 2,934,000 in 2023, marking an increase of approximately 179.5%[20]. - The gross profit from the energy production and supply segment rose by 58.9% to RMB 44.48 million in 2024, compared to RMB 27.98 million in 2023, due to the operational performance of the Lingang project[73]. Employee and Operational Metrics - Total employee costs rose to RMB 30,943,000 in 2024 from RMB 26,689,000 in 2023, an increase of 15.6%[34]. - The company organized 50 safety production training sessions and completed 63 professional skills training sessions for employees in 2024[109]. - By the end of 2024, the company had a total of 70 employees, with 90% holding a bachelor's degree or higher[107]. Future Plans and Market Strategy - The company plans to continue focusing on integrated energy solutions, which may drive future growth and market expansion[9]. - The company aims to expand its renewable energy business, targeting a photovoltaic installed capacity of over 30 MW by the end of 2025[103]. - The company will actively promote equity acquisition projects in 2025, focusing on expanding its renewable energy business and improving the profitability of its heating business[105]. Dividends and Shareholder Information - The proposed final dividend per share for 2024 is RMB 0.014, compared to zero in 2023, indicating a return to dividend distribution[52]. - The company will not withhold any amounts for personal income tax on dividends distributed to H-share individual shareholders, as it qualifies as a foreign-invested enterprise under the 1994 notice[119]. - The company has not been informed of any shareholders waiving their dividend arrangements as of December 31, 2024[120]. Governance and Reporting - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[130]. - The preliminary financial results for the year ending December 31, 2024, will be consistent with the audited consolidated financial statements[124]. - The annual performance announcement will be published on the Stock Exchange's "Disclosure of Interests" website and the company's website[125].
天保能源(01671) - 2024 - 年度业绩