Financial Performance - For the fiscal year ending December 31, 2024, the total revenue of Ye Xing Group Holdings Limited was approximately RMB 377.3 million, an increase of about RMB 35.9 million or approximately 10.5% compared to RMB 341.4 million for the fiscal year ending December 31, 2023[2]. - The company reported a total comprehensive loss of approximately RMB 21.6 million for the fiscal year, compared to a loss of RMB 13.7 million in the previous year[2]. - Basic loss per share for the fiscal year was RMB 5.42, compared to RMB 3.47 in the previous year[4]. - The company reported a pre-tax loss of RMB 21,965,000 for 2024, compared to a loss of RMB 14,048,000 in 2023, indicating a year-over-year increase in losses of approximately 56.5%[20]. - The annual loss for the year ending December 31, 2024, was approximately RMB 21.6 million, compared to a loss of approximately RMB 13.7 million for the year ending December 31, 2023, primarily due to impairment losses on trade and other receivables[65]. Revenue Breakdown - Revenue from property management services accounted for 85.8% of total revenue, while revenue from value-added services and property developer-related services accounted for 11.7% and 2.5%, respectively[2]. - The company's revenue for property management services in 2024 was RMB 323,809 thousand, an increase of 11.7% from RMB 289,885 thousand in 2023[13]. - Total revenue for 2024 reached RMB 377,314 thousand, up 10.5% from RMB 341,405 thousand in 2023[13]. - Revenue from property management services increased by approximately RMB 33.9 million or about 11.7%, with residential property revenue rising by approximately RMB 21.8 million or about 9.1%[49]. - Revenue from property developer-related services decreased by approximately RMB 0.3 million or about 3.1% to approximately RMB 9.4 million for the year ended December 31, 2024[52]. Assets and Liabilities - Non-current assets decreased from RMB 142.6 million in 2023 to RMB 136.2 million in 2024[5]. - Current assets increased from RMB 279.8 million in 2023 to RMB 303.3 million in 2024[5]. - The company’s cash and cash equivalents increased from RMB 116.7 million in 2023 to RMB 140.1 million in 2024[5]. - The net assets of the company increased from RMB 214.1 million in 2023 to RMB 235.9 million in 2024[5]. - As of December 31, 2024, the total assets of the company were approximately RMB 422.3 million, a decrease from approximately RMB 439.5 million as of December 31, 2023[66]. - The company's total liabilities increased to approximately RMB 208.3 million as of December 31, 2024, compared to approximately RMB 203.6 million as of December 31, 2023[66]. Employee Costs - Total employee costs increased to RMB 158,942,000 in 2024 from RMB 138,029,000 in 2023, reflecting a growth of about 15.1%[18]. - The company reported a significant increase in expected credit losses for trade receivables, rising to RMB 96,107,000 in 2024 from RMB 57,472,000 in 2023, an increase of approximately 67.2%[29]. - The company’s other employee benefits contributions rose to RMB 23,379,000 in 2024 from RMB 21,345,000 in 2023, an increase of about 9.5%[18]. - As of December 31, 2024, the company had 1,226 employees, with employee costs for the fiscal year amounting to approximately RMB 158.9 million[86]. Corporate Governance - The company has adhered to all applicable corporate governance code provisions except for the separation of the roles of the chairman and CEO, as required by provision C.2.1[89]. - The chairman and CEO roles are currently held by the same individual, which the board believes provides strong and consistent leadership during the company's development stage[90]. - The company has established a corporate governance framework and policies to enhance the board's governance capabilities and oversight of business conduct[91]. - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing risk management, internal controls, and financial reporting matters[94]. - The company is committed to continuously reviewing and monitoring its corporate governance practices to ensure compliance with the corporate governance code[91]. Strategic Initiatives - The company aims to strengthen its market expansion efforts while maintaining quality service standards, focusing on residential and commercial properties[40]. - The company is committed to enhancing value-added services, including cleaning, greening, and community retail, while also launching new live-streaming sales initiatives[41]. - The company has a vision of becoming a leading property management service provider in China, with a focus on quality service and customer needs[39]. - The group plans to enhance value-added services and provide property professional training services to external property companies by 2025[45]. - The company aims to meet the growing diverse living needs of customers through diversified business service extensions[45]. Financial Reporting and Compliance - The company has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on the financial position and performance[9]. - The audit firm has agreed that the figures in the announcement align with the audited consolidated financial statements for the fiscal year ending December 31, 2024[95]. - The annual report for the fiscal year ending December 31, 2024, will be sent to shareholders and published on the company's website[96]. - The company does not plan to declare a final dividend for the fiscal year ending December 31, 2024[84]. - There have been no significant acquisitions or disposals of subsidiaries or joint ventures as of December 31, 2024[81].
烨星集团(01941) - 2024 - 年度业绩