Financial Performance - Revenue for the year ended December 31, 2024, was RMB 2,917,434 thousand, an increase of 3.4% from RMB 2,822,921 thousand in 2023[2] - Gross profit decreased to RMB 257,769 thousand, with a gross margin of 8.8%, down from RMB 299,588 thousand and a gross margin of 10.6% in the previous year[3] - Net profit for the year was RMB 15,609 thousand, a decline of 49.6% compared to RMB 31,016 thousand in 2023[3] - Basic and diluted earnings per share were RMB 1.63, down from RMB 3.24 in the prior year, representing a decrease of 49.7%[3] - The company reported a total comprehensive income of RMB 15,320 thousand, down from RMB 30,505 thousand in the previous year[3] - The group's net profit after tax decreased by approximately 49.7% from about RMB 31.0 million for the year ending December 31, 2023, to about RMB 15.6 million for the year ending December 31, 2024[49] Revenue Breakdown - Revenue from mobile phones decreased to RMB 1,894,440,000 from RMB 2,137,747,000, reflecting a decline of about 11.4%[18] - Revenue from IoT-related products increased significantly to RMB 822,713,000, up from RMB 483,801,000, marking a growth of approximately 70.1%[18] - Revenue from China increased to RMB 2,328,450,000 in 2024 from RMB 1,742,400,000 in 2023, representing a growth of 33.6%[22] - Revenue from Bangladesh decreased by 28.4% from RMB 74.6 million to RMB 53.4 million due to reduced smartphone sales orders from major customers[57] - Revenue from the United States increased from zero to RMB 73.8 million, attributed to strategic marketing efforts in the country[57] - Revenue from Algeria decreased by 44.3% from RMB 10.6 million to RMB 5.9 million, primarily due to reduced demand for smartphones[57] Assets and Liabilities - Total assets decreased to RMB 3,254,420 thousand from RMB 3,711,239 thousand in 2023, indicating a reduction of 12.3%[4] - Current liabilities decreased to RMB 2,967,829 thousand from RMB 3,438,461 thousand, a decline of 13.7%[4] - Total non-current assets (excluding deferred tax assets) rose to RMB 137,741,000 in 2024 from RMB 110,077,000 in 2023, an increase of 25.2%[22] - Trade receivables decreased to RMB 574,022,000 in 2024 from RMB 745,042,000 in 2023, a decline of 22.9%[36] - The group’s total inventory decreased to RMB 326,034,000 in 2024 from RMB 377,630,000 in 2023, a reduction of 13.6%[35] Expenses - Research and development expenses were RMB 141,885 thousand, slightly up from RMB 139,686 thousand in 2023[3] - The group’s total employee costs increased to RMB 188,753,000 in 2024 from RMB 144,969,000 in 2023, reflecting a rise of 30.2%[27] - Administrative expenses increased by 20.1% from RMB 63.8 million to RMB 76.6 million, primarily due to increased provisions for trade receivables and employee costs[62] - The group’s income tax expense decreased to RMB 4,732,000 in 2024 from RMB 8,931,000 in 2023, a decrease of 47.0%[25] Cash Flow and Financing - The group reported a cash flow from operating activities of RMB 27.1 million for the year ended December 31, 2024, down from RMB 56.9 million in the previous year[73] - The total amount of notes payable under supplier financing arrangements decreased from RMB 2,324,122 thousand in 2023 to RMB 2,153,157 thousand in 2024, a decrease of approximately 7.3%[43] - The group had fixed-rate borrowings of RMB 122.9 million and floating-rate borrowings of RMB 24.8 million as of December 31, 2024, compared to RMB 35.0 million and RMB 119.4 million respectively in the previous year[75] Corporate Governance - The company has adopted a set of corporate governance practices in compliance with the Listing Rules, with all directors confirming adherence to the standards as of December 31, 2024[93] - The Audit Committee, established on October 18, 2019, consists of four independent non-executive directors and has reviewed the financial statements for the year ending December 31, 2024[97] - The external auditor has confirmed that the financial data for the year ending December 31, 2024, aligns with the audited consolidated financial statements[98] Strategic Focus - The group aims to enhance R&D capabilities and diversify its product portfolio to maximize shareholder benefits[51] - The group plans to leverage artificial intelligence and rapidly deploy 5G networks to drive demand for smartphones and IoT products[51] - The group will focus on emerging markets with growing smartphone demand as a strategic priority[55] - The group anticipates challenges and opportunities in the ODM smartphone market in China and aims to solidify its market leadership[50] Shareholder Information - The group did not declare or recommend any dividends for the years ended December 31, 2024, and December 31, 2023[28] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[100] - The annual report for the year ending December 31, 2024, will be sent to shareholders in due course[100]
未来机器有限公司(01401) - 2024 - 年度业绩