Financial Performance - For the fiscal year ending December 31, 2024, the revenue was approximately RMB 419.6 million, a decrease of about 6.6% compared to RMB 449.3 million for the fiscal year ending December 31, 2023[3]. - The gross profit for the fiscal year ending December 31, 2024, was approximately RMB 113.4 million, down about 9.7% from RMB 125.7 million for the fiscal year ending December 31, 2023[3]. - The net loss for the fiscal year ending December 31, 2024, was approximately RMB 20.1 million, compared to a net profit of approximately RMB 0.3 million for the fiscal year ending December 31, 2023[3]. - Total revenue for the year ended December 31, 2024, was RMB 419,635,000, a decrease of 6.6% from RMB 449,273,000 in 2023[22]. - The company reported a loss before tax of RMB 11,254,000 for the year ended December 31, 2024, compared to a profit of RMB 6,934,000 in 2023[24]. - The company reported a significant increase in receivables over 365 days, rising to RMB 91,157,000 in 2024 from RMB 74,363,000 in 2023, an increase of approximately 22.6%[42]. - The total profit and comprehensive income decreased from approximately RMB 0.6 million for the year ended December 31, 2023, to a loss of approximately RMB 19.9 million for the year ended December 31, 2024[76]. Revenue Breakdown - Property management services generated revenue of RMB 318,785,000, up 8.5% from RMB 293,752,000 in the previous year[22]. - Community value-added services revenue decreased by 33.9% to RMB 47,252,000 from RMB 71,497,000[22]. - Non-owner value-added service revenue decreased by approximately 27.6% to about RMB 51.5 million for the year ended December 31, 2024, from approximately RMB 71.2 million for the year ended December 31, 2023[61]. - Community value-added service revenue decreased by approximately 41.5% to about RMB 49.4 million for the year ended December 31, 2024, from approximately RMB 84.4 million for the year ended December 31, 2023[62]. Assets and Liabilities - The total assets less current liabilities as of December 31, 2024, were approximately RMB 314.4 million, compared to RMB 337.7 million as of December 31, 2023[7]. - The company's total assets as of December 31, 2024, were RMB 591,493,000, down from RMB 617,227,000 in 2023[27]. - The company's cash and cash equivalents as of December 31, 2024, were approximately RMB 137.5 million, down from RMB 178.9 million as of December 31, 2023[7]. - The company's total liabilities decreased, with current liabilities dropping significantly due to the repayment of borrowings[50]. Corporate Governance and Compliance - The company established an independent committee on April 6, 2023, to investigate three audit matters raised by the previous auditor[11]. - The independent committee has engaged an independent professional advisor to assist in the inquiry process[11]. - The company has identified deficiencies in corporate governance and internal controls during the inquiry[11]. - The company announced that it has met all resumption guidance and its shares will resume trading on October 28, 2024[12]. Dividends and Shareholder Information - The company decided not to declare a final dividend for the fiscal year ending December 31, 2024[4]. - The board did not recommend the declaration of a final dividend for the year ended December 31, 2024, consistent with the previous year[101]. - The annual report for the fiscal year ending December 31, 2024, will be sent to shareholders and published on the company's website at an appropriate time[111]. Management Changes - Mr. Tang Chengyong has resigned as President effective March 27, 2025, but will remain as an Executive Director[112]. - Mr. Yang Zhenqiu has been appointed as President effective March 27, 2025, bringing over 25 years of experience in property management[113]. - Mr. Yang will receive an annual salary of RMB 800,000 as per the service contract established with the company[114]. Cost Management - Employee costs decreased from RMB 162,273 thousand in 2023 to RMB 154,469 thousand in 2024, reflecting a reduction of approximately 4.9%[31]. - General and administrative expenses decreased by approximately 2.9% from about RMB 57.9 million for the year ended December 31, 2023, to approximately RMB 56.2 million for the year ended December 31, 2024, due to a reduction in employee benefits expenses resulting from a decrease in average administrative and HR personnel[71]. - The company's service costs decreased from RMB 323,601 thousand in 2023 to RMB 306,206 thousand in 2024, indicating a decrease of approximately 5.4%[31]. Financial Reporting Standards - The company has applied new Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on financial performance[15]. - The company expects that the application of other new financial reporting standards will not have a significant impact on its consolidated financial statements in the foreseeable future[19]. Risk Management - The company emphasized the importance of risk management and internal control systems to navigate the complex market environment[52].
力高健康生活(02370) - 2024 - 年度业绩