Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 114,231,000, a slight increase from RMB 114,030,000 in the previous year, representing a growth of approximately 0.2%[2] - The gross profit for the same period was RMB 30,652,000, up from RMB 24,854,000, indicating a significant increase of about 23.3%[2] - The company incurred a net loss of RMB 40,928,000 for the year, compared to a net loss of RMB 20,401,000 in the previous year, reflecting an increase in losses of approximately 100%[3] - The basic and diluted loss per share for the year was RMB 0.0164, compared to RMB 0.0122 in the previous year, indicating a worsening of the loss per share by approximately 34.4%[3] - The company reported a significant impairment loss on non-financial assets of RMB 33,322,000, down from RMB 58,794,000, indicating an improvement of approximately 43.4%[2] - The total expenses for sales cost, selling and distribution expenses, administrative expenses, and impairment losses on non-financial assets decreased from RMB 169,126,000 in 2023 to RMB 133,954,000 in 2024, representing a reduction of approximately 20.8%[22] - The impairment loss on non-financial assets significantly decreased from RMB 58,794,000 in 2023 to RMB 33,322,000 in 2024, a decline of about 43.4%[22] - The loss attributable to the company's owners increased to RMB 24,418,000 from RMB 18,179,000 year-on-year, primarily due to a significant impairment provision of approximately RMB 54,024,000 related to a photovoltaic power station's receivables and assets[41] Assets and Liabilities - Total assets decreased to RMB 1,068,648,000 from RMB 1,136,591,000, a decline of about 6%[5] - Non-current assets decreased from RMB 464,336,000 to RMB 403,534,000, a reduction of approximately 13.1%[5] - Current assets slightly decreased from RMB 672,255,000 to RMB 665,114,000, a decline of about 1.1%[5] - Total liabilities decreased from RMB 285,178,000 to RMB 260,655,000, a reduction of approximately 8.6%[6] - The company's equity attributable to owners decreased from RMB 848,105,000 to RMB 821,195,000, a decline of about 3.2%[5] - The total assets of the reportable segments as of December 31, 2024, amounted to RMB 1,068,648,000, a decrease from RMB 1,136,591,000 in 2023[21] - The reportable segment liabilities as of December 31, 2024, were RMB 260,655,000, compared to RMB 285,178,000 in 2023, reflecting a decrease of approximately 8.6%[21] Revenue Breakdown - Revenue from the sale of electricity decreased to RMB 61,899,000 in 2024 from RMB 69,261,000 in 2023, representing a decline of approximately 19.7%[17] - Revenue from public construction increased significantly to RMB 28,725,000 in 2024, up from RMB 18,747,000 in 2023, marking an increase of approximately 53.5%[17] - The total generation from photovoltaic power stations was approximately 100,858 MWh, down from 104,800 MWh in the previous year, resulting in total revenue from power generation of RMB 61,899,000, compared to RMB 69,261,000 last year[43][44] - The smart energy business generated revenue of approximately RMB 85,506,000, a decrease of about 10.26% from RMB 95,283,000 in the previous year, with a loss of RMB 37,704,000 compared to a loss of RMB 348,000 last year[44] - The public construction business generated revenue of approximately RMB 28,725,000, up from RMB 18,747,000 in the previous year, with a reduced loss of RMB 279,000 compared to a loss of RMB 15,727,000 last year[45] Trade Receivables and Impairment - Trade receivables increased from RMB 287,572,000 in 2023 to RMB 306,131,000 in 2024, marking an increase of about 6.5%[32] - The total amount of trade and other receivables rose from RMB 278,858,000 in 2023 to RMB 293,047,000 in 2024, an increase of approximately 5.1%[32] - The provision for impairment losses on trade and other receivables increased from RMB 225,192,000 in 2023 to RMB 252,466,000 in 2024, representing an increase of about 12.1%[32] - The expected credit loss provision for loans to third parties decreased from RMB 49,385,000 in 2023 to RMB 24,030,000 in 2024, a reduction of approximately 51.3%[30] - The total provision for expected credit losses across all categories as of December 31, 2024, is RMB (180,438) thousand for household photovoltaic systems, RMB (36,617) thousand for smart energy services, and RMB (13,977) thousand for electricity sales[35][36][37] - The company has classified trade receivables based on common credit risk characteristics and aging to measure expected credit losses[34] - The company continues to monitor and adjust its provisions for expected credit losses in response to changing market conditions and customer payment behaviors[34] Cash and Financing - As of December 31, 2024, cash and cash equivalents were approximately RMB 221,468,000, down from RMB 227,743,000 the previous year, primarily due to loan repayments[56] - External borrowings as of December 31, 2024, were RMB 133,600,000, a decrease from RMB 160,500,000 the previous year, with no significant debt repayment risks[58] - Net financing costs decreased by 15.60% to RMB 5,553,000, due to a reduction in loan principal and interest rates[53] Corporate Governance and Operations - The board of directors held two meetings during the year to approve financial results and discuss overall operations and strategies[70] - The audit committee, composed of three independent non-executive directors, reviewed the consolidated financial statements for the year ending December 31, 2024[74] - The company's auditor confirmed that the financial data disclosed in the preliminary announcement aligns with the audited financial statements[75] - The company did not declare any dividends to shareholders for the years ending December 31, 2024, and 2023[40] - The company will change its website from "https://www.longitech.hk" to "https://www.xindaholdings.com" effective March 28, 2025[77]
鑫达投资控股(01281) - 2024 - 年度业绩