Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 5,580,913, an increase of 11.6% from RMB 4,998,261 in 2023[3] - Gross profit for the same period rose to RMB 2,635,982, up 18% from RMB 2,235,352 in the previous year[3] - Profit before tax increased to RMB 794,538, representing a 44.4% growth compared to RMB 550,087 in 2023[4] - Net profit for the year was RMB 692,790, a significant increase of 39.9% from RMB 495,118 in 2023[4] - Basic and diluted earnings per share rose to RMB 0.90, compared to RMB 0.22 in the previous year[4] - The company reported a total comprehensive income of RMB 270,043, recovering from a loss of RMB 318,634 in the previous year[5] - Total segment revenue for 2024 reached RMB 5,580,913,000, an increase from RMB 4,998,261,000 in 2023, representing a growth of approximately 11.6%[20] - The industrial investment segment generated revenue of RMB 4,423,147,000 in 2024, slightly down from RMB 4,497,817,000 in 2023, indicating a decrease of about 1.6%[20] - The standardized investment segment reported a loss of RMB 8,624,000 in 2024, compared to a loss of RMB 688,870,000 in 2023, showing significant improvement[20] - The non-standard investment segment achieved a profit of RMB 728,050,000 in 2024, recovering from a loss of RMB 340,025,000 in 2023[20] Assets and Liabilities - Non-current assets totaled RMB 41,008,163, slightly down from RMB 41,439,238 in 2023[6] - Current assets increased to RMB 25,166,199, compared to RMB 24,748,595 in 2023[7] - Total liabilities amounted to RMB 48,416,321, with current liabilities at RMB 20,550,048, up from RMB 19,199,633 in 2023[7] - The total assets of the group as of December 31, 2024, were approximately RMB 66,174,362,000, with total liabilities of approximately RMB 48,416,321,000, resulting in a net asset value of approximately RMB 17,758,041,000[50] - The total value of financial assets measured at fair value through other comprehensive income was RMB 868,011,000 in 2024, down from RMB 1,250,398,000 in 2023, indicating a decrease of approximately 30.5%[36] - The group’s total borrowings increased to approximately RMB 43.04 billion from RMB 41.65 billion in 2023[66] - The asset-liability ratio as of December 31, 2024, was approximately 65.04%, up from 62.93% in 2023[67] Cash Flow and Financing - The company’s cash and cash equivalents decreased to RMB 4,308,390 from RMB 5,202,038 in 2023[6] - The company issued USD 900,000,000 of 6.50% guaranteed perpetual securities on May 30, 2024, and RMB 500,000,000 of 2.24% ultra-short-term financing notes in August 2024, raising net proceeds of approximately USD 892,834,000 and RMB 499,630,000 respectively[75] - The financing costs for 2024 totaled RMB 1,792,736,000, a decrease from RMB 1,869,524,000 in 2023, reflecting a reduction of about 4.1%[27] Employee and Operational Metrics - Employee benefit expenses totaled RMB 284,342,000 in 2024, down from RMB 301,466,000 in 2023, indicating a decrease of approximately 5.7%[28] - The company had 1,992 employees as of December 31, 2024, down from 2,226 in the previous year, indicating a focus on optimizing workforce efficiency[77] Strategic Developments - The company has changed its presentation currency from Hong Kong dollars to Renminbi, reflecting its primary operations and transactions in mainland China[15] - The group has successfully acquired a controlling stake in Shandong High-speed New Energy, achieving a historic breakthrough in renewable energy indicators, with over 4 GW of renewable energy indicators obtained in 2024[55] - The group further strengthened its strategic position in the renewable energy sector by increasing its stake in Shandong High-speed New Energy, enhancing its market expansion and industry collaboration[55] - The group is focusing on the "AI computing power + data assets + scenario applications" digital economy ecosystem, actively promoting deep collaboration among its various industries[56] - The group signed a framework agreement with the Ulanqab Municipal Government to explore the creation of an integrated collaborative industrial ecosystem for "source-network-load-storage" in Inner Mongolia[56] Compliance and Governance - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange regulations during the reporting period[82] - The audit committee has reviewed the group's consolidated performance for the year ending December 31, 2024[83] - The preliminary performance announcement for the year ending December 31, 2024, has been agreed upon by the company's auditor[84] Dividends and Shareholder Actions - The company did not declare any dividends for the year ended December 31, 2024, consistent with 2023[34] - The company did not recommend any dividend distribution for the reporting period, consistent with the previous year[80] - The company issued a mandatory unconditional cash offer for all issued shares, acquiring approximately 60.66% of the total issued share capital of the target company[46][47] - The company received valid acceptances for a total of 82,936,512 shares, representing about 3.69% of the total issued share capital of the target company[49]
山高控股(00412) - 2024 - 年度业绩