Financial Performance - Revenue for the year ended December 31, 2024, was RMB 592,941,000, a decrease of 11.2% compared to RMB 667,409,000 in 2023[2] - Gross profit decreased by 21.2% to RMB 71,880,000 from RMB 91,204,000 year-over-year[2] - Operating loss increased by 71.2% to RMB (38,328,000) compared to RMB (22,393,000) in the previous year[2] - Net loss for the year was RMB (68,198,000), a significant increase of 155.6% from RMB (26,684,000) in 2023[2] - Total revenue for the year ended December 31, 2024, was RMB 592,941 thousand, a decrease of 11.1% from RMB 667,409 thousand in 2023[18] - The reported loss before tax for the year ended December 31, 2024, was RMB 68,487 thousand, compared to a loss of RMB 27,456 thousand in 2023[19] - The company reported a loss attributable to shareholders of RMB 67,976,000 for the year ended December 31, 2024, compared to a loss of RMB 26,754,000 in 2023, resulting in a basic and diluted loss per share of RMB (0.23) compared to RMB (0.09) in the previous year[36] - The group's net loss for fiscal year 2024 was approximately RMB 68.2 million, an increase in loss of about RMB 41.5 million or 155.6% compared to fiscal year 2023, primarily due to decreased sales revenue and lower gross margin[71] Assets and Liabilities - Total assets decreased by 16.6% to RMB 304,700,000 from RMB 365,506,000 year-over-year[2] - Total liabilities increased by 3.4% to RMB 222,342,000 compared to RMB 215,091,000 in 2023[2] - Net asset value dropped by 45.2% to RMB 82,358,000 from RMB 150,415,000 in the previous year[2] - Current ratio decreased to 1.11 from 1.37 year-over-year[2] - Total non-current assets decreased from RMB 131,072 thousand in 2023 to RMB 93,494 thousand in 2024, a decline of approximately 28.7%[4] - Current assets decreased from RMB 234,434 thousand in 2023 to RMB 211,206 thousand in 2024, a decline of about 9.9%[4] - Total liabilities increased from RMB 170,265 thousand in 2023 to RMB 190,815 thousand in 2024, an increase of approximately 12.1%[4] - Net current assets decreased significantly from RMB 64,169 thousand in 2023 to RMB 20,391 thousand in 2024, a decline of about 68.3%[4] - Total equity decreased from RMB 150,415 thousand in 2023 to RMB 82,358 thousand in 2024, a decrease of approximately 45.3%[5] - Cash and cash equivalents dropped from RMB 48,683 thousand in 2023 to RMB 21,152 thousand in 2024, a decline of about 56.5%[4] Segment Performance - Retail segment revenue for the year ended December 31, 2024, was RMB 431,125 thousand, a decrease of 19.0% from RMB 532,389 thousand in 2023[18] - Wholesale distribution segment revenue for the year ended December 31, 2024, was RMB 161,816 thousand, an increase of 19.9% from RMB 135,020 thousand in 2023[18] - The retail segment reported a loss of RMB 59,925 thousand for the year ended December 31, 2024, compared to a loss of RMB 25,590 thousand in 2023[18] - The wholesale distribution segment reported a loss of RMB 4,333 thousand for the year ended December 31, 2024, compared to a profit of RMB 1,954 thousand in 2023[18] Operational Changes and Strategies - The company plans to apply new international financial reporting standards, which are not expected to have a significant impact on the group's performance and financial position[11] - The company plans to enhance revenue performance by launching "supply and marketing discount stores" and adjusting operations for loss-making stores[53] - The company aims to develop "24-hour AI smart unmanned stores," with 27 existing stores integrating cloud monitoring capabilities[53] - The company is expanding its online sales channels, including "Douyin Small Hour Delivery" and its own e-commerce platforms, to boost sales volume[54] - The company is committed to improving supply chain systems through direct sourcing and national joint procurement to enhance gross profit margins[54] - The company is exploring development opportunities outside Guangdong Province, including Hong Kong, leveraging favorable policies in Hainan Free Trade Port[55] - The company is focused on transforming its business model to integrate retail, wholesale, and online-offline fusion, aiming to become a leading supermarket enterprise in the Guangdong-Hong Kong-Macao Greater Bay Area[55] Governance and Compliance - The board is committed to high levels of corporate governance, which is essential for protecting shareholder interests and enhancing corporate value[92] - The company did not comply with Listing Rules 3.10(1), 3.21, 3.25, and 3.27A after the resignation of Mr. Wang Yilin as an independent non-executive director on October 26, 2023[93] - The company is actively seeking suitable candidates to fill vacancies and comply with listing regulations, expanding its search channels to various industry associations and individuals with diverse backgrounds and skills[94] - After Mr. Gao Jingyuan is appointed as an independent non-executive director on March 27, 2024, the number of independent non-executive directors will meet the minimum requirement of Listing Rule 3.10(1)[95] - The audit committee has reviewed the accounting standards and practices adopted by the group, and the financial statements for the year ending December 31, 2024, have been reviewed and deemed compliant with applicable accounting standards[97] Employee and Labor Relations - The group had a total of 784 employees, with 776 located in mainland China and 8 in Hong Kong[84] - The group maintains competitive salary levels for employees and conducts annual reviews based on relevant labor market and economic conditions[84] - There were no significant impacts on operations due to labor disputes during the fiscal year 2024[84]
中国顺客隆(00974) - 2024 - 年度业绩