Financial Performance - Revenue for the 2024 Financial Year was approximately RMB 6,241,000, representing an increase of 316.62% compared to RMB 1,498,000 for the 2023 Corresponding Period[3]. - Loss after tax for the 2024 Financial Year was approximately RMB 104,269,000, while loss after tax for the 2023 Corresponding Period was approximately RMB 146,630,000[3]. - Basic loss per share for the 2024 Financial Year was approximately RMB 6.07 cents, compared to RMB 9.33 cents for the 2023 Corresponding Period[3]. - Gross loss for the 2024 Financial Year was RMB 24,469,000, compared to a gross loss of RMB 83,871,000 in 2023[6]. - Other income for the 2024 Financial Year was RMB 8,876,000, an increase from RMB 2,175,000 in 2023[6]. - Total comprehensive expense for the year was RMB 103,112,000, compared to RMB 150,502,000 in 2023[8]. - The Group incurred a loss attributable to owners of the Company of approximately RMB 89,243,000 for the year ended December 31, 2024[32]. - The Group's loss before tax for 2024 is RMB 104,258,000, improved from a loss of RMB 146,593,000 in 2023[44]. - The Group reported a loss attributable to owners of approximately RMB 89,243,000 for the year ended December 31, 2024, compared to a loss of RMB 137,159,000 in 2023[60]. Assets and Liabilities - Non-current assets increased to RMB 458,417,000 in 2024 from RMB 344,283,000 in 2023[10]. - Current liabilities were RMB 207,454,000, slightly decreased from RMB 209,404,000 in 2023[10]. - The net assets of the company decreased to RMB 320,137,000 in 2024 from RMB 422,849,000 in 2023, representing a decline of approximately 24.2%[11]. - Total equity fell to RMB 320,137,000 in 2024, down from RMB 422,849,000 in 2023, indicating a decrease of about 24.2%[11]. - The Group's current liabilities exceeded its current assets by approximately RMB 121,072,000 as of December 31, 2024[32]. - The Group's net current liabilities were approximately RMB 121,072,000 as of December 31, 2024, compared to net current assets of approximately RMB 79,002,000 as of December 31, 2023[124]. - The Group's current ratio decreased to 0.42 times as of December 31, 2024, down from 1.38 times as of December 31, 2023[125]. - The Group's gearing ratio increased to 0.41 times as of December 31, 2024, compared to 0.33 times as of December 31, 2023[125]. Dividends and Share Capital - The Board does not recommend the payment of a final dividend for the 2024 Financial Year[3]. - The company’s share capital remained unchanged at RMB 1,469,376,000 for both 2023 and 2024[11]. - No dividends were paid or proposed for ordinary shareholders during 2024, consistent with 2023[60]. Accounting Standards and Compliance - The company has adopted new HKFRS accounting standards effective from January 1, 2024, which have had no material impact on the financial positions and performance for the current and prior years[16]. - The application of new and amendments to HKFRS Accounting Standards is not expected to have a material impact on the consolidated financial statements in the foreseeable future[28]. - The consolidated financial statements have been prepared in accordance with HKFRS Accounting Standards issued by the HKICPA[30]. - The figures in the consolidated financial statements for the year ended 31 December 2024 have been agreed by the Group's auditor, Asian Alliance (HK) CPA Limited[173]. Operational Developments - The company’s principal activities are investment holding, with subsidiaries engaged in various operations as detailed in the consolidated financial statements[12]. - The Group is actively considering the disposal of certain investment properties to meet funding needs[35]. - The Group is negotiating with creditors to extend repayment periods[35]. - The Group's operations in property management are expected to generate predictable cash flows and reduce reliance on the cyclical nature of property development[121]. - The Group aims to integrate resources to promote the construction and operation of various property projects to achieve profitability as soon as possible[103]. - The Group is exploring development opportunities in property investment, focusing on both leasing and management to enhance service offerings[116]. Employee and Staff Costs - As of December 31, 2024, the Group employed a total of 35 employees, down from 48 employees as of December 31, 2023[143]. - The total salaries and emoluments for the 2024 Financial Year amounted to RMB 5,882,000, a decrease of approximately 4.6% compared to RMB 6,167,000 in the corresponding period of 2023[143]. Impairments and Provisions - Impairment of trade receivables recognized during the 2024 Financial Year was RMB 7,041,000, down from RMB 10,937,000 in the 2023 Corresponding Period[79]. - An impairment loss on deposit paid for the acquisition of the Beijing Property was recognized at approximately RMB 16,619,000 for the 2024 Financial Year, compared to RMB 11,802,000 in the 2023 Corresponding Period[82]. - The Group made an impairment provision of approximately RMB 30,488,000 for properties under development for sale due to delays and market conditions[83]. Future Outlook - The Group expects to record a net operating cash inflow for the year ending 31 December 2025[35]. - The Shennongjia Hotel project is expected to be completed in the second half of 2025, with opening postponed to 2026 due to construction delays[83]. - The domestic tourism market in Shennongjia experienced a 48% increase in tourist numbers and a 35% growth in tourism revenue in 2023, with continued growth observed in 2024[92]. Acquisitions and Investments - The Group has acquired a 51% equity interest in Guangzhou Zhudao Property Management Company Limited for RMB 550,000, enhancing its property management capabilities[113]. - The Group has won the bidding for a 3,000 square meter vacant land in Shenzhen for an entertainment project, which began operations in January 2025[105].
沈阳公用发展股份(00747) - 2024 - 年度业绩