Financial Performance - Revenue decreased by approximately 8.61% to about RMB 76.67 billion[2] - Profit attributable to shareholders decreased by approximately 37.29% to about RMB 1.14 billion[2] - Basic earnings per share decreased to approximately RMB 1.01[2] - Total comprehensive income for the year was RMB 1.23 billion, down from RMB 1.83 billion[5] - The group's profit for the year was RMB 1,297,907 thousand, representing a decrease of 29.3% from RMB 1,835,705 thousand in the prior year[18] - The group's profit for the year ended December 31, 2024, was RMB 1,142,405,000, a decrease from RMB 1,821,836,000 in 2023, reflecting a decline of approximately 37.3%[35] - The group's gross profit for 2023 was approximately RMB 5.965 billion, decreasing by about 17.64% to approximately RMB 4.912 billion in 2024, primarily due to the decline in gross profit from lead-acid and lithium battery businesses[75] - The overall gross margin decreased from approximately 7.11% in 2023 to about 6.41% in 2024, with the manufacturing gross margin at approximately 11.33%, down about 1.42 percentage points from 2023[75] Revenue Breakdown - Manufacturing business external sales amounted to RMB 43,559,147 thousand, down 8.5% from RMB 47,397,428 thousand in the previous year[18] - Trade external sales were RMB 33,109,666 thousand, a decline of 9.5% compared to RMB 36,493,545 thousand in 2023[18] - Revenue from lead-acid battery products was RMB 39,853,742 thousand, down 6.5% from RMB 42,423,301 thousand in 2023[21] - Revenue from renewable resource products decreased by 24.4% to RMB 2,720,533 thousand from RMB 3,600,226 thousand[21] - The revenue from high-end environmentally friendly batteries reached approximately RMB 39,854 million during the reporting period, contributing significantly to the overall sales[48] - The revenue from lead-acid power batteries was approximately RMB 37,181 million, making it the largest revenue and profit contributor for the company[49] - The company's other high-end environmentally friendly battery business achieved revenue of approximately RMB 2.455 billion during the reporting period[56] - The lead-carbon energy storage battery business generated approximately RMB 218 million in revenue, showcasing its advantages in safety, production, and recycling processes[54] - The lithium-ion battery business generated revenue of approximately RMB 478 million, focusing on energy storage and power applications[59] - The lithium-ion battery recycling business achieved revenue of approximately RMB 573 million during the reporting period[70] Costs and Expenses - Research and development costs increased to RMB 2.03 billion, up from RMB 1.93 billion[3] - Total employee costs for the year were RMB 2,910,993,000, down from RMB 3,283,960,000 in the previous year, indicating a reduction of about 11.3%[31] - Financing costs for the year amounted to RMB 546,530,000, compared to RMB 482,780,000 in 2023, representing an increase of approximately 13.2%[28] - Distribution and selling expenses decreased by approximately 9.19% from RMB 1.424 billion in 2023 to RMB 1.293 billion in 2024, attributed to lower transportation and employee salary costs[77] - Administrative expenses decreased by approximately 6.33% from RMB 1.357 billion in 2023 to RMB 1.271 billion in 2024, mainly due to reductions in employee salaries and office expenses[78] Assets and Liabilities - Non-current assets increased to RMB 22.06 billion from RMB 17.41 billion[7] - Current liabilities increased to RMB 29.27 billion from RMB 23.29 billion[8] - The group's total assets increased by approximately 18.24% from RMB 46.751 billion in 2023 to RMB 55.281 billion in 2024, with non-current assets growing by about 26.72%[83] - Total liabilities increased by approximately 28.49% from RMB 28.306 billion in 2023 to RMB 36.372 billion in 2024, with non-current liabilities rising by about 41.41%[84] - The debt-to-asset ratio increased to approximately 33.55% in 2024 from 19.42% in 2023, reflecting a higher level of liabilities relative to assets[96] Dividends and Shareholder Information - Proposed final dividend of HKD 0.17 per share[2] - The company declared a final dividend of HKD 0.17 per share for the year ended December 31, 2024, compared to HKD 0.43 per share in 2023, a reduction of approximately 60.5%[33] - The company will suspend share transfer registration from May 13, 2025, to May 16, 2025, with the record date set for May 16, 2025[110] - A second suspension of share transfer registration will occur from May 23, 2025, to May 26, 2025, with the record date on May 26, 2025, to establish entitlement to the proposed final dividend[111] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the financial reporting procedures and internal controls of the group[112] - The company has adopted the corporate governance code as per the listing rules, with the chairman and CEO roles held by the same individual to enhance operational efficiency[114] - Deloitte has agreed to the preliminary financial figures for the year ending December 31, 2024, but has not issued an opinion or assurance on the preliminary announcement[115] - All directors confirmed compliance with the standard code of conduct for securities transactions throughout the reporting period[116] Strategic Developments - The company has accelerated its global strategy, achieving significant breakthroughs in markets such as Vietnam, Indonesia, and Cambodia, with the first batch of batteries rolling off the production line in Vietnam[47] - The company has made significant technological advancements in hydrogen fuel cells, sodium-ion batteries, and solid-state batteries, achieving important breakthroughs in multiple fields[45] - The sodium-ion battery project has been selected for the "Pioneer" technology tackling plan in Zhejiang Province for 2025, solidifying the company's competitive advantage in energy storage scenarios[65] - The company has built four green circular economy industrial parks in Zhejiang, Anhui, Jiangsu, and Henan, promoting sustainable practices in battery recycling and production[68]
天能动力(00819) - 2024 - 年度业绩