Financial Performance - Revenue for the year was RMB 236.2 million, a decrease of 18.7% compared to RMB 290.6 million in 2023[5]. - The net loss attributable to equity shareholders was RMB 22.0 million, a decline of 158.7% from a profit of RMB 37.5 million in 2023[5]. - Gross profit margin decreased to 35%, down 8 percentage points from 43% in 2023[5]. - Basic loss per share was RMB 0.08, a decrease of RMB 0.22 from a basic earnings per share of RMB 0.14 in 2023[5]. - The adjusted EBITDA for the fiscal year 2024 was RMB 126,189,000, down from RMB 187,236,000 in 2023, indicating a decrease of about 32.6%[21][23]. - The company reported a pre-tax loss of RMB 30,384,000 for 2024, compared to a profit of RMB 67,988,000 in 2023, reflecting a significant downturn[23][30]. - The basic loss per share for 2024 was RMB 0.083, compared to earnings per share of RMB 0.144 in 2023, indicating a shift from profit to loss[30][31]. - The group's gross profit for 2024 was RMB 83.76 million, a decrease of RMB 40.55 million or 32.62% from RMB 124.31 million in 2023, with a gross margin of 35%, down 8 percentage points from 43% in 2023[58]. Assets and Liabilities - Total assets less current liabilities increased to RMB 2,108.4 million from RMB 1,210.9 million in 2023[8]. - Non-current liabilities rose significantly to RMB 1,404.6 million from RMB 544.6 million in 2023[8]. - Net current assets improved to RMB 217.2 million from a net current liability of RMB 772.1 million in 2023[7]. - Reported segment assets as of December 31, 2024, totaled RMB 2,351,455,000, slightly down from RMB 2,353,573,000 in 2023, reflecting a marginal decrease of 0.1%[21][23]. - The total reported segment liabilities decreased to RMB 1,746,131,000 in 2024 from RMB 1,791,417,000 in 2023, marking a reduction of approximately 2.5%[21][23]. - Shareholders' equity rose to RMB 703.8 million in 2024 from RMB 666.3 million in 2023, influenced by an injection of RMB 84 million from a subsidiary and a loss of RMB 34 million[61]. Revenue Breakdown - Revenue from aggregate products and others was RMB 215.5 million, slightly down from RMB 215.9 million in 2023[14]. - Revenue from concrete products decreased significantly to RMB 19.9 million from RMB 74.7 million in 2023[14]. - The company reported no single customer contributing over 10% of total revenue in the reporting year, compared to two customers in 2023[14]. - In 2024, the revenue from concrete agency services was RMB 0.71 million, as this service was only launched in 2024[58]. - The sales revenue from ready-mixed concrete dropped by 69.27% from RMB 64.78 million in 2023 to RMB 19.91 million in 2024, with a sales volume decline of 64.71%[57]. Costs and Expenses - Financial costs for 2024 were RMB 85,876,000, up from RMB 62,900,000 in 2023, representing an increase of approximately 36.5%[25][23]. - Employee costs decreased to RMB 23,488,000 in 2024 from RMB 24,514,000 in 2023, indicating a decline of about 4.2%[26][29]. - Administrative expenses decreased by 26.1% to RMB 22.6 million in 2024 from RMB 30.6 million in 2023, primarily due to reductions in personnel costs and third-party services[59]. - The cost of raw materials was RMB 21.6 million in 2024, down from RMB 57.5 million in 2023, accounting for 14% of total sales costs compared to 34.6% in 2023[64]. Market and Strategic Developments - The company has signed key customer agreements to sell at least 1.2 million tons of aggregate products within a year, indicating a strategic focus on increasing sales volume[44]. - The company’s second production line has commenced operations, enhancing its capacity to support infrastructure projects such as highways and high-speed railways[44]. - The construction market in Anhui is expected to focus on high-quality development, with an emphasis on green and prefabricated buildings, aligning with national strategies for urbanization and rural revitalization[45]. - The construction market in HuaiBei is expected to see stable growth due to infrastructure projects, which will stimulate demand for building materials, particularly in green and prefabricated construction[48]. - The group plans to increase aggregate product output to 6 million tons in 2025 and will focus on expanding its customer base to meet growing demand[68]. - The group intends to pursue acquisitions of potential entities that align with its development strategy to expand asset scale and improve revenue and profitability levels starting in 2025[68]. - The group aims to enhance overall management and operational efficiency in 2025 to ensure stable production levels of its main products[69]. Cash Flow and Financing - As of December 31, 2024, the group had cash and cash equivalents totaling RMB 320.3 million, an increase of RMB 246.6 million from RMB 73.7 million in 2023[62]. - The company completed a capital increase agreement on August 9, 2024, raising RMB 83,999,600, increasing registered capital from RMB 200 million to RMB 222,867,200[52]. - The company has utilized 100% of the net proceeds from its global offering, amounting to approximately HKD 78.6 million (equivalent to RMB 67.9 million)[53]. - Interest income increased to RMB 6,190,000 in 2024 from RMB 2,652,000 in 2023, showing a significant rise of about 133.5%[21][22][23]. - Interest payable to related parties decreased significantly, with no interest payable recorded in 2024 compared to RMB 1,306,000 in 2023[35]. Dividend and Shareholder Information - The company did not declare a final dividend for 2024, compared to a dividend of RMB 0.028 per share in 2023, which amounted to RMB 7,392,000[40]. - The board of directors has proposed not to declare a dividend for the fiscal year ending December 31, 2024[80]. - The annual general meeting is scheduled to be held on May 29, 2025[81]. - Share transfer registration will be suspended from April 29, 2025, to May 29, 2025, to determine shareholder voting rights[82].
淮北绿金股份(02450) - 2024 - 年度业绩