Financial Performance - For the year ending December 31, 2024, revenue decreased by approximately 1.9% or RMB 5.7 million to approximately RMB 297.2 million compared to the previous year[2] - Gross profit for the same period decreased by approximately 3.6% or RMB 1.7 million to approximately RMB 47.5 million[2] - Profit attributable to owners of the company increased by approximately 10.1% or RMB 1.9 million to approximately RMB 21.0 million[2] - Total revenue for the year ended December 31, 2024, was RMB 297,235,000, a decrease of 1.9% from RMB 302,891,000 in the previous year[20] - Gross profit for the year was RMB 47,486,000, representing a gross margin of approximately 15.9%[18] - Net profit for the year was RMB 27,555,000, compared to RMB 25,853,000 in the previous year, reflecting an increase of 6.6%[18] - The division of cargo handling and ancillary services generated revenue of RMB 75,086,000, while the sale of oil products generated RMB 222,149,000[18] - The company’s income from service revenue decreased by approximately 86.4% to about RMB 483,000 for the reporting year[50] - The profit attributable to the company's owners increased by approximately 10.1% to about RMB 21.0 million for the year ended December 31, 2024, compared to RMB 19.1 million for the previous year[58] Assets and Liabilities - Total assets increased to RMB 403.9 million in 2024 from RMB 385.4 million in 2023, representing a growth of approximately 4.0%[4] - Total assets as of December 31, 2024, amounted to RMB 403,907,000, an increase from RMB 385,409,000 in the previous year[19] - Total liabilities as of December 31, 2024, were RMB 36,212,000, compared to RMB 39,439,000 in the previous year, indicating a decrease of 8.5%[19] - Current liabilities decreased to RMB 33.8 million in 2024 from RMB 37.9 million in 2023, a reduction of approximately 10.8%[5] - Non-current assets decreased to RMB 192.1 million in 2024 from RMB 201.7 million in 2023, a decline of approximately 4.0%[4] Cash and Equity - Cash and cash equivalents rose to RMB 34.3 million in 2024 from RMB 26.3 million in 2023, an increase of approximately 30.3%[4] - Total equity increased to RMB 367.7 million in 2024 from RMB 345.9 million in 2023, reflecting a growth of approximately 6.3%[5] - Cash and cash equivalents as of December 31, 2024, were RMB 34,265,000, up from RMB 26,265,000 in the previous year[19] - As of December 31, 2024, the group's net current assets amounted to approximately RMB 177.9 million, an increase from RMB 145.7 million as of December 31, 2023[59] Earnings Per Share - The basic and diluted earnings per share attributable to owners of the company increased to RMB 0.0351 in 2024 from RMB 0.0319 in 2023, an increase of approximately 10.0%[3] - Basic earnings per share for 2024 was RMB 0.0351, compared to RMB 0.0319 in 2023, reflecting a growth of 10.1%[30] Dividends - The total dividend proposed is RMB 30 million, with a dividend of RMB 0.05 per ordinary share[2] - The company had no final dividend declared for the year ended December 31, 2024, compared to RMB 24,000,000 in dividends declared for 2023[38] - The company has proposed a final dividend of RMB 0.05 per share for the year ending December 31, 2024, amounting to RMB 30 million based on 600 million shares issued[75] Tax and Financial Costs - The company reported a decrease in corporate income tax expense to RMB 9,981,000 in 2024 from RMB 11,246,000 in 2023, a reduction of 11.3%[28] - The company’s tax expenses decreased by approximately 19.6% to about RMB 10.3 million for the year ended December 31, 2024, due to lower taxable profits[57] - The company’s financial costs rose to RMB 112,000 in 2024 from RMB 50,000 in 2023, marking a significant increase of 124%[23] - The net financial income for the year was RMB (7,000) in 2024, a significant decline from RMB 1,032,000 in 2023[23] Operational Developments - The company plans to continue focusing on its core operations in China, where all revenues and operating assets are located[17] - The company established a wholly-owned subsidiary in Indonesia to initiate new trading activities, starting with nickel ore trading and planning to expand into mining contracting and rights trading[46] - The group aims to enhance operational efficiency and capabilities while expanding its customer base and optimizing cost management in cargo handling and packaging services[70] - The group plans to focus on expanding its market coverage in oil product sales and allocate additional resources to strengthen and develop this business area[70] - The group will remain vigilant and adaptable to emerging business and investment opportunities to further diversify its business portfolio[70] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024, confirming compliance with applicable accounting standards[80] - The board of directors has confirmed full compliance with the standard code for securities transactions by directors during the reporting year[79] - The company will assess the necessity of establishing an internal audit function annually and may form an internal audit team if needed[80] - The external auditor has agreed that the preliminary performance figures align with the audited consolidated financial statements for the year[81] Employee Costs - The total employee cost for the year ended December 31, 2024, was approximately RMB 22.9 million, down from RMB 25.2 million for the year ended December 31, 2023, due to a reduction in employee numbers and bonuses[66] Miscellaneous - The company has not adopted several new accounting standards that are expected to have no significant impact on the financial statements in the foreseeable future[12] - The group has no significant investments, acquisitions, or disposals involving subsidiaries, associates, or joint ventures as of December 31, 2024, consistent with the previous year[63] - The group has capital commitments for construction and acquisition of properties, plants, and equipment amounting to approximately RMB 2.0 million as of December 31, 2024, slightly down from RMB 2.1 million as of December 31, 2023[69] - The group has no pledged assets as of December 31, 2024, consistent with the previous year[64] - The group maintains a cautious approach to financial and funding policies, focusing on risk management and transactions directly related to its business[61] - The company entered into a share transfer agreement on March 18, 2025, agreeing to sell its investment in Fudi Tianyuan Petrochemical Co., Ltd. for HKD 19 million[74] - The annual general meeting is scheduled for June 3, 2025, with a suspension of share transfer registration from May 28 to June 3, 2025[76] - The company expresses gratitude to its management, employees, shareholders, and business partners for their support during the reporting year[83]
天源集团(06119) - 2024 - 年度业绩