Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was approximately RMB 499,505,000, an increase of about 30.3% compared to RMB 383,463,000 in 2023[3] - The net profit for the same period was approximately RMB 146,608,000, representing a growth of about 54.4% from RMB 94,939,000 in 2023[3] - Basic and diluted earnings per share attributable to ordinary shareholders were approximately RMB 5.24, up about 21.8% from RMB 4.30 in 2023[3] - The profit attributable to the parent company was approximately RMB 104,760,000, an increase of about 61.1% from RMB 65,025,000 in 2023[3] - The total comprehensive income for the year was RMB 151,346,000, compared to RMB 94,425,000 in 2023, reflecting a significant increase[6] - The gross profit margin for the year was approximately 50.9%, compared to 47.8% in the previous year[5] - The group's revenue for the year was approximately RMB 499,505,000, an increase of about 30.3% compared to RMB 383,463,000 in 2023, driven by a 24.4% rise in average selling price and a 4.7% increase in sales volume[109] - The net profit for the year was approximately RMB 146,608,000, representing a 54.4% increase from RMB 94,939,000 in 2023, primarily due to higher average selling prices and increased interest income from cash reserves[110] Assets and Liabilities - The group's total assets less current liabilities amounted to RMB 1,115,586,000 as of December 31, 2024, compared to RMB 1,039,815,000 in 2023[7] - The group's cash and cash equivalents increased to RMB 639,599,000 from RMB 586,840,000 in 2023[7] - The total liabilities decreased to RMB 139,376,000 from RMB 178,086,000 in 2023, indicating improved financial stability[7] - Total assets minus current liabilities increased to RMB 1,115,586 thousand in 2024 from RMB 1,039,815 thousand in 2023, representing a growth of approximately 7.3%[8] - Net assets rose to RMB 1,053,459 thousand in 2024, up from RMB 975,935 thousand in 2023, indicating an increase of about 7.9%[8] - Non-current liabilities decreased slightly to RMB 62,127 thousand in 2024 from RMB 63,880 thousand in 2023, a reduction of approximately 2.8%[8] - The company's equity attributable to owners increased to RMB 883,464 thousand in 2024, compared to RMB 827,788 thousand in 2023, reflecting a growth of around 6.7%[8] Revenue Sources - Revenue from gold bar sales increased to RMB 499,505 thousand in 2024, up from RMB 383,463 thousand in 2023, representing a growth of approximately 30.3%[99] - Sulfur sales generated RMB 5,441 thousand in 2024, compared to RMB 4,783 thousand in 2023, indicating an increase of about 13.8%[99] - Government subsidies received amounted to RMB 835 thousand in 2024, significantly higher than RMB 170 thousand in 2023, reflecting a growth of approximately 391.2%[99] - Interest income rose to RMB 13,059 thousand in 2024, compared to RMB 4,493 thousand in 2023, marking an increase of around 190.5%[99] - Total other income and gains increased to RMB 19,703 thousand in 2024 from RMB 9,851 thousand in 2023, showing a growth of approximately 99.0%[99] Operational Highlights - The company operates a single reportable segment: mining and processing of gold, with all revenue derived from operations in mainland China[98] - The group's gold production for the year was approximately 904.3 kg (or about 28,872.0 ounces), an increase of about 2.5% compared to the previous year[108] - The group completed 23 exploration drill holes at a cost of approximately RMB 5,424,000 to enhance gold reserves[111] - The company has identified significant uncertainties related to environmental restoration liabilities, which may lead to substantial adjustments in asset and liability valuations in the next fiscal year[92] Financial Reporting and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance and transparency[12] - The group has adopted revised accounting standards for the financial statements, including IFRS 16 regarding lease liabilities from sale and leaseback transactions, which has no impact on the group's financial position[17] - The group has reassessed the classification of liabilities as current or non-current under the revised IAS 1, confirming that there is no change in classification for the group[18] - The group does not have any supplier financing arrangements, thus the amendments related to supplier financing have no impact on the financial statements[17] - The group has confirmed that the adoption of the revised standards does not affect its financial situation or performance[17] Governance and Management - The company has adhered to the corporate governance code during the year ending December 31, 2024, with no known deviations[157] - The roles of the chairman and CEO are currently held by the same individual, which the board believes is in the best interest of the company[159] - The company will continue to review the separation of the roles of chairman and CEO as appropriate in the future[159] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year[162] Future Outlook - The company anticipates that the U.S. interest rate reduction cycle will continue into 2025, positively impacting the gold market[146] - The group faces various financial risks, including interest rate risk and commodity price risk, which could impact revenue and profitability due to fluctuations in gold prices and other commodities[137][138]
集海资源(02489) - 2024 - 年度业绩