Financial Performance - For the year ended December 31, 2024, the company's revenue was RMB 32,297,000, a decrease of 19.1% compared to RMB 39,884,000 in 2023[4] - The cost of services provided was RMB 28,367,000, resulting in a gross profit of RMB 3,930,000, down 54.5% from RMB 8,560,000 in the previous year[4] - The company reported a loss before tax of RMB 13,695,000, compared to a loss of RMB 9,756,000 in 2023, indicating a deterioration in financial performance[4] - The net loss attributable to the owners of the company was RMB 8,360,000, slightly improved from RMB 8,443,000 in the previous year[4] - Basic and diluted loss per share was RMB 1.94, compared to RMB 2.05 in 2023, reflecting a minor improvement in per-share loss[4] Assets and Liabilities - Non-current assets increased to RMB 143,785,000 from RMB 128,591,000 in 2023, primarily due to investments in property, plant, and equipment[5] - Current assets decreased to RMB 122,541,000 from RMB 159,761,000, with cash and bank balances dropping to RMB 120,913,000 from RMB 152,359,000[5] - Total equity attributable to owners of the company was RMB 186,818,000, down from RMB 189,569,000 in 2023, indicating a slight decline in shareholder equity[5] - The total liabilities for the company as of December 31, 2024, were RMB 15,647,000, compared to RMB 15,374,000 in 2023, showing a slight increase of 1.8%[28] - The total interest-bearing borrowings amounted to approximately RMB 45.2 million, a decrease from RMB 54.2 million as of December 31, 2023[75] Revenue Breakdown - Revenue from driving training services for 2024 was RMB 32,297,000, a decrease of 19.1% from RMB 39,884,000 in 2023[13] - Standard course revenue increased significantly to RMB 20,300,000 in 2024 from RMB 2,824,000 in 2023, while advanced course revenue decreased to RMB 11,059,000 from RMB 36,659,000[13] - Revenue from large vehicle driving training services accounted for approximately 69.1% of total revenue for the year ended December 31, 2024[39] - Revenue from large vehicle driving training services decreased by RMB 7.3 million (approximately 24.6%) to RMB 22.3 million, primarily due to a reduction in the number of students and training hours[55] - Revenue from small vehicle driving training services slightly decreased by RMB 0.3 million (approximately 3.1%) to RMB 10.0 million, despite an increase in the number of students from 6,490 to 6,691[56] Enrollment and Training - Total course enrollment decreased by 7.0% to 8,646 students for the year ended December 31, 2024, compared to 9,304 students in 2023[39] - The number of students enrolled in large vehicle courses dropped significantly by 18.7% to 3,279 students, while small vehicle course enrollment increased slightly by 1.9% to 5,367 students[39] - The total number of course enrollments for large and small vehicle standard courses increased by approximately 130.0% from 3,046 to 7,006 for the year ending December 31, 2024, due to redesigned courses with lower fees and fewer training hours[40] - The number of course registrations at Shunda Driving School decreased by 38.2% to 846 students, primarily due to a transfer of registrations to Tongtai Driving School[39] - The number of enrollments in standard courses for large vehicles rose to 3,271 (37.8%) in 2024 from 977 (10.5%) in 2023, while advanced course enrollments fell significantly from 3,058 (32.9%) to 8 (0.1%) in the same period[41] Expenses and Cost Management - Total financial expenses decreased to RMB 3,279,000 in 2024 from RMB 4,230,000 in 2023, primarily due to lower interest on bank loans[18] - Employee benefit expenses decreased from RMB 10.5 million to RMB 8.2 million, a decline of about 22.4%[58] - Fuel expenses decreased from RMB 7.4 million to RMB 4.9 million, a reduction of approximately 34.3%[58] - Total cost of services provided decreased from RMB 31.3 million to RMB 28.4 million, a reduction of approximately 9.4%[57] Strategic Initiatives - The company has made prepayments for the acquisition of a subsidiary amounting to RMB 3,900,000, indicating ongoing expansion efforts[5] - The company plans to enhance its marketing team and utilize social media platforms to promote enrollment policies and educational advantages to increase student numbers[47] - Investment in teaching facilities will be increased, including the purchase of unique simulators and plans to acquire new energy training vehicles to reduce training costs and improve service quality[48] - The company aims to adapt to the competitive landscape by embracing new technologies and enhancing teaching quality to maintain market share and profitability[46] - The company plans to actively seek suitable land for building training facilities and will consider other uses of financial resources to improve business performance[51] Shareholder Information - The company did not declare any dividends for the year ended December 31, 2024, consistent with 2023[22] - The board does not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[85] - The company completed a rights issue on March 20, 2024, raising approximately HKD 40 million, with net proceeds of about HKD 6.062 million[34] - The net proceeds from the rights issue amount to approximately HKD 6.1 million, which will be used to repay part of the group's outstanding bank loans[84] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2024, and found them compliant with applicable accounting standards[89] - The independent auditor confirmed that the figures in the consolidated financial statements for the year ending December 31, 2024, matched those reported in the audited financial statements[90] - The board of directors includes two executive directors, Qi Xiangzhong and Zhao Yuxia, one non-executive director, Dr. Yang Zhuoguang, and three independent non-executive directors, Mr. Chen Xiaohua, Mr. Wen Xinhui, and Mr. Xu Jianpo[97]
向中国际(01871) - 2024 - 年度业绩