Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 9,634,058,386, an increase of 1.76% compared to RMB 9,467,889,370 in 2023[9] - The net loss for the year was RMB 150,903,947, compared to a net loss of RMB 52,740,273 in 2023, indicating a significant decline in profitability[9] - The company's net profit attributable to the parent company for 2024 was RMB (160,673,532), compared to RMB (75,675,109) in 2023, indicating a significant increase in losses[20][27] - Basic earnings per share for 2024 were RMB (0.39), compared to RMB (0.18) for 2023, indicating a worsening financial performance[27][28] - The gross profit margin for the main business in 2024 was approximately 8.43%, compared to 11.73% in 2023, reflecting increased costs[25] - The income tax expense for 2024 was RMB 22,883,942, a decrease of 60.5% from RMB 57,906,328 in 2023[26] - The retained earnings at the end of 2024 were RMB 139,088,762, down from RMB 299,762,295 at the end of 2023[20] Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 6,977,601,311, a decrease from RMB 7,132,044,691 in 2023[5] - Current assets totaled RMB 4,699,606,788, down from RMB 4,947,950,438 in the previous year, representing a decline of 5.02%[5] - Total liabilities increased slightly to RMB 5,355,803,036 from RMB 5,299,176,954, reflecting a year-on-year increase of 1.07%[6] - The equity attributable to shareholders decreased to RMB 1,325,699,777 from RMB 1,486,219,629, a decline of 10.79%[8] - The group's net current assets as of December 31, 2024, were negative at RMB (100,177,688), compared to positive RMB 121,933,143 as of December 31, 2023[10] - As of December 31, 2024, the group's non-current assets amounted to RMB 2,277,994,523, with non-current liabilities at RMB 556,018,560, resulting in a debt-to-asset ratio of approximately 76.76%[62][73] Revenue Breakdown - Retail main business revenue totaled RMB 2,525,448,000 for 2024, a decrease of 15.2% from RMB 2,977,313,000 in 2023[40] - Wholesale business revenue rose by approximately 10.3%, reaching RMB 6,063,477,000, driven by growth in the liquor, cross-border, and e-commerce sectors[47] - The group's total current assets were RMB 4,699,606,788, primarily consisting of cash and cash equivalents of RMB 652,046,263, inventory of RMB 1,672,686,872, and accounts receivable of RMB 1,243,392,844[60] - Other business revenue increased by approximately 6.5%, from RMB 976,735,757 in 2023 to RMB 1,039,994,773 in 2024, due to changes in promotional expense accounting[52] Operational Changes - The group opened 1 new franchise convenience store during the reporting period, while closing 11 supermarkets, 21 direct-operated convenience stores, and 2 franchise convenience stores[32] - The group added nearly 500,000 new members and reactivated about 100,000 members during the reporting period, significantly enhancing member loyalty[36] - The group implemented a large single product strategy, enhancing procurement efforts and increasing the sales volume of core products[33] - The logistics service capabilities were strengthened, with improved inventory management and reduced delivery turnaround times compared to the previous year[37] - The group focused on food safety management, implementing a comprehensive control mechanism to ensure food safety throughout the year[39] - The group is actively upgrading its retail business systems and enhancing digital capabilities to support operational management[38] Accounting Policies and Compliance - The financial statements are prepared based on the assumption of going concern, following the relevant accounting standards and regulations, including the Ministry of Finance's guidelines[11] - The company has implemented changes in accounting policies, including the execution of the "Interpretation No. 17 of the Accounting Standards for Enterprises," effective from January 1, 2024, which clarifies the classification of current and non-current liabilities[12][13] - The company has not experienced any significant impact on its financial position or operating results from the recent changes in accounting policies[14][15] - The company has not made any changes to significant accounting estimates during the reporting period[16] - The group has maintained compliance with the Hong Kong Companies Ordinance and the Listing Rules in its financial disclosures[11] Future Plans and Recommendations - The company plans to enhance its retail business by focusing on brand building, optimizing product categories, and improving member strategies for precise marketing and personalized services[76] - The wholesale business will prioritize high-quality development, implementing a "product + service" business model and expanding its logistics operations to increase revenue[76] - The net profit attributable to the parent company for the reporting period was RMB (160,673,532), leading to a recommendation of no final dividend distribution for the 2024 fiscal year[83] - The company will suspend shareholder registration from May 9 to May 16, 2025, during which no share transfers will occur[84] - The 2024 Annual General Meeting is scheduled for May 16, 2025[85] - The 2024 Annual Report will be published around April 30, 2025, and will be available electronically to shareholders[86]
北京京客隆(00814) - 2024 - 年度业绩