Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 74,943,000, an increase from RMB 72,570,000 in the previous year, representing a growth of approximately 3.25%[7] - The gross profit for the same period was RMB 32,283,000, a decrease from RMB 33,481,000, indicating a decline of about 3.57%[7] - The company experienced a pre-tax loss of RMB 7,454,000, slightly improved from a loss of RMB 7,943,000 in the prior year, reflecting a reduction in losses of approximately 6.15%[7] - The net loss for the year was RMB 10,402,000, compared to a net loss of RMB 10,086,000 in the previous year, showing an increase in losses of about 3.13%[7] - Total comprehensive income for the year was RMB 757,000, compared to RMB 5,801,000 in the previous year, indicating a significant decline[8] - The company reported a basic loss per share of RMB (9.48) cents, compared to RMB (8.99) cents in the previous year[8] Revenue Breakdown - The group reported total revenue of RMB 74,943 thousand for the year ended December 31, 2024, with RMB 70,443 thousand from funeral services and RMB 4,500 thousand from biotechnology and other businesses[30] - For the year ended December 31, 2023, total revenue was RMB 72,570 thousand, with RMB 69,501 thousand from funeral services and RMB 3,069 thousand from biotechnology[31] - The revenue from funeral services increased from RMB 65,838 thousand in 2023 to RMB 67,035 thousand in 2024, representing a growth of approximately 1.8%[30][31] - Revenue from biotechnology and other businesses reached RMB 4,500,000 in fiscal year 2024, compared to RMB 3,069,000 in the previous year, marking a significant increase[51] Expenses and Liabilities - Administrative expenses decreased to RMB 36,336,000 from RMB 41,044,000, representing a reduction of approximately 11.4%[7] - The company incurred a fair value loss on investment properties of RMB 748,000, which is an improvement from a loss of RMB 1,081,000 in the previous year[7] - The expected credit loss on trade and other receivables was RMB 4,150,000, a significant increase from a reversal of RMB 2,841,000 in the previous year[7] - Total liabilities decreased to RMB 133,611,000 from RMB 145,882,000 year-over-year[12] Assets and Equity - Non-current assets totaled RMB 54,248,000, down from RMB 58,619,000 year-over-year[9] - Current assets decreased to RMB 196,378,000 from RMB 213,088,000 in the previous year[9] - The company's equity attributable to owners increased to RMB 123,452,000 from RMB 123,718,000[12] - Cash and cash equivalents were reported at RMB 109,256,000, down from RMB 125,019,000[9] Strategic Focus and Future Plans - The company plans to focus on market expansion and new product development in the upcoming fiscal year[6] - The company aims to diversify its development and achieve high-quality economic growth to effectively address geopolitical risks and market complexities[98] - The company emphasizes the importance of operational efficiency, technological innovation, and strategic partnerships to adapt to market opportunities[97] Market and Economic Outlook - China's GDP growth rate for 2024 is projected to be around 5.0%, despite facing structural challenges such as weak domestic consumption and a sluggish real estate market[40] - The funeral and related services industry is expected to maintain stable growth, with a compound annual growth rate exceeding 3% from 2024 to 2029[41] - The biotechnology sector in China continues to show strong innovation capabilities, supported by regulatory reforms and increased government funding[43] Compliance and Governance - The board of directors confirmed the accuracy and completeness of the financial information presented in the report[5] - The company did not declare or recommend any dividends for the years ending December 31, 2023, and 2024[34] - The company has complied with relevant laws and regulations, with no significant violations reported during the year[110] Investment and Financial Management - The company made total investments of approximately RMB 894,796,000 during the year, including various financial instruments[71] - The fair value of the investment portfolio as of December 31, 2024, was approximately RMB 7,716,000, down from RMB 14,532,000 in 2023[69] - The group continues to adopt a conservative treasury policy, primarily conducting its ongoing business transactions in RMB and HKD[76]
中国生命集团(08296) - 2024 - 年度业绩