Financial Performance - For the fiscal year ending December 31, 2024, revenue decreased by approximately 41.4% to about RMB 112.0 million, compared to RMB 190.9 million in 2023[2] - Gross profit for the same period fell by approximately 81.5% to about RMB 3.3 million, down from RMB 17.6 million in 2023[2] - The company recorded a loss attributable to shareholders of approximately RMB 9.5 million for the fiscal year, compared to a loss of RMB 2.6 million in 2023[2] - Basic loss per share for the fiscal year was approximately RMB 1.2 cents, compared to RMB 0.3 cents in 2023[2] - The total revenue for the year ended December 31, 2024, was RMB 111,977 thousand, a decrease from RMB 190,944 thousand in 2023, representing a decline of approximately 41%[27] - The group’s total revenue decreased from approximately RMB 190.9 million in FY2023 to about RMB 112.0 million in FY2024, a reduction of approximately RMB 79.0 million or 41.4%[56] - The group recorded a net loss and total comprehensive loss increased from approximately RMB 2.6 million in FY2023 to about RMB 9.5 million in FY2024, an increase of approximately 6.9 million or 270.7%[66] Assets and Liabilities - Total assets decreased to RMB 261.7 million in 2024 from RMB 365.1 million in 2023[10] - Total liabilities decreased to RMB 51.0 million in 2024 from RMB 144.9 million in 2023[10] - Cash and cash equivalents decreased to RMB 53.2 million in 2024 from RMB 95.1 million in 2023[10] - Trade receivables decreased to RMB 104.2 million in 2024 from RMB 131.8 million in 2023[10] - The company reported a net trade receivables amount of RMB 104,249,000 in 2024, down from RMB 131,766,000 in 2023, representing a decrease of about 21%[51] - The net inventory value decreased to RMB 40,631,000 in 2024 from RMB 57,726,000 in 2023, a reduction of approximately 30%[48] - Trade payables decreased to RMB 32,067,000 in 2024 from RMB 69,599,000 in 2023, indicating a reduction of about 54%[52] Expenses - The cost of raw materials and goods sold was RMB 99,462 thousand in 2024, down from RMB 166,123 thousand in 2023, indicating a reduction of about 40%[32] - Employee costs decreased to RMB 10,453 thousand in 2024 from RMB 12,391 thousand in 2023, reflecting a decline of approximately 15%[32] - Research and development expenses amounted to RMB 4,930 thousand in 2024, down from RMB 7,267 thousand in 2023, a decrease of about 32%[37] - The total operating expenses for the year were RMB 127,314 thousand in 2024, down from RMB 199,244 thousand in 2023, representing a decrease of approximately 36%[32] - The group’s selling expenses decreased from approximately RMB 8.2 million in FY2023 to about RMB 5.2 million in FY2024, primarily due to reduced shipping costs from lower sales volume[59] - The group’s administrative expenses decreased from approximately RMB 17.7 million in FY2023 to about RMB 13.4 million in FY2024, mainly due to a reduction in travel and entertainment expenses[60] Dividends - The board has resolved not to recommend the payment of a final dividend for the fiscal year ending December 31, 2024[2] - The company did not declare or pay any dividends for the fiscal year ending December 31, 2024, consistent with 2023[44] - The board has decided not to recommend a final dividend for the fiscal years 2023 and 2024[80] Accounting Standards - The company expects that the adoption of HKFRS 18 will not impact its net profit, but it may affect the calculation and reporting of operating profit due to the reclassification of income and expenses into new categories[23] - The presentation of cash flows will change, with interest received classified under investing activities and interest paid under financing activities, effective from January 1, 2027[24] - The company has identified potential impacts from the adoption of new accounting standards, including changes in the presentation of goodwill and intangible assets on the balance sheet[23] - Management is currently assessing the detailed impact of the new standards on the consolidated financial statements, with no significant changes expected in the disclosures of material information[23] - The company anticipates that the amendments and new interpretations of accounting standards will not have a significant impact on current or future reporting periods[21] - The new standards are expected to enhance comparability and provide more relevant information and transparency to users of the financial statements[22] - The company will need to make significant new disclosures regarding performance metrics defined by management and the nature of expenses presented in the income statement[23] - The amendments to HKAS 1 and HKFRS 18 will introduce new requirements that may broadly affect the presentation and disclosure of financial performance statements[22] - The company plans to adopt the new standards starting from January 1, 2027, with prior year comparative information restated according to HKFRS 18 requirements[24] - The company has not early adopted any of the new standards that are not yet effective, as they are not expected to have a significant impact on the financial statements[21] Employee Information - The group had 83 employees as of December 31, 2024, down from 113 employees in the previous year[81] - The total employee cost for the fiscal year 2024 was approximately RMB 10.5 million, down from RMB 12.4 million in fiscal year 2023[81] Governance and Compliance - The company’s annual performance for the fiscal year 2024 has been reviewed by the Audit Committee and is in compliance with applicable accounting standards and listing rules[88] - The company has established an Audit Committee to oversee financial reporting and internal controls[87] - The Board of Directors is responsible for the overall governance and supervision of the company[86] - The Audit Committee consists of three independent non-executive directors, ensuring compliance with listing rules[87] - The company expresses gratitude to the management team and all employees for their hard work and dedication during the year[93] Future Plans and Events - The company plans to utilize approximately HKD 90.3 million in net proceeds for various purposes, including enhancing production capacity and expanding the product portfolio[79] - The annual general meeting is scheduled for May 23, 2025, with a suspension of share transfer registration from May 20 to May 23, 2025[89] - There were no significant events requiring disclosure after December 31, 2024[83] - The company has no significant investments or acquisitions planned for the fiscal year 2024[76] Impairments - The company experienced a significant impairment charge on long-term assets during the fiscal year 2024, negatively impacting financial performance[54] - The group recorded a financial asset impairment provision of approximately RMB 2.0 million in FY2023 and about RMB 1.1 million in FY2024, mainly due to an increase in the total value of trade receivables and an expected loss rate increase[61] - The company reported a total asset impairment of RMB 3,208,000 related to equipment in 2024[45]
伟立控股(02372) - 2024 - 年度业绩