Financial Performance - The company reported a net loss attributable to shareholders of RMB -458,090,029.50 for the year ended December 31, 2024, compared to a loss of RMB -442,207,777.30 in 2023[6]. - The net loss for 2024 was RMB 15,760,875.92, an improvement compared to a net loss of RMB 42,993,598.60 in 2023, indicating a reduction of approximately 63.4%[10]. - The total profit (loss) for 2024 was RMB -15,747,640.30, compared to RMB -42,986,960.99 in 2023, reflecting a notable improvement[8]. - The company reported a net profit of -15,760,875.92 RMB for the fiscal year 2024, indicating continued losses[19]. - The company reported a significant increase in operational efficiency, reducing employee compensation expenses by approximately RMB 660,000[70]. Revenue and Costs - Total operating revenue for 2024 reached RMB 21,960,142.24, a significant increase from RMB 13,091,468.20 in 2023, representing a growth of approximately 67.5%[8]. - Total operating costs decreased to RMB 32,593,905.84 in 2024 from RMB 41,019,887.74 in 2023, a reduction of about 20.5%[8]. - Revenue from antenna products and related services was 14,308,783.44, while the cost of goods sold was 7,678,793.51, resulting in a segment loss of 9,593,077.66[50]. - The cost of goods sold for the year was ¥14,531,699.55, compared to ¥11,034,415.18 in the previous year, representing an increase of 31.5%[32]. Assets and Liabilities - The total assets of Xi'an Haitian Antenna Technologies Co., Ltd. decreased from RMB 58,564,833.84 as of December 31, 2023, to RMB 49,999,190.96 as of December 31, 2024, representing a decline of approximately 14.7%[4]. - Total liabilities increased from RMB 89,563,141.07 in 2023 to RMB 96,758,374.11 in 2024, reflecting an increase of about 8.1%[5]. - The company's total equity decreased from RMB -30,998,307.23 in 2023 to RMB -46,759,183.15 in 2024, indicating a decline in shareholder equity[6]. - The total liabilities to total assets ratio increased from approximately 1.53 in 2023 to 1.94 in 2024, indicating a higher leverage position[5]. - The company has reported a significant increase in liabilities, with current liabilities exceeding current assets by 59,406,846.97 RMB[19]. Cash Flow and Financial Health - The company's cash and cash equivalents rose significantly from RMB 1,991,322.95 in 2023 to RMB 3,134,837.66 in 2024, an increase of approximately 57.3%[4]. - The operating revenue for 2024 was 21,960,142.24 RMB, with a negative operating cash flow of -2,064,152.68 RMB[19]. - As of the end of 2024, the company's net assets stood at -46,759,183.15 RMB, reflecting significant financial challenges[19]. - The company has disclosed plans to improve its financial situation, although there are significant uncertainties regarding its ability to continue as a going concern due to ongoing losses and liabilities exceeding assets[63]. Research and Development - Research and development expenses decreased to RMB 1,969,895.65 in 2024 from RMB 5,657,550.50 in 2023, a decline of about 65.2%[8]. - Research and development expenses for the year were approximately RMB 1,970,000, primarily aimed at improving existing antenna products based on market and customer feedback[71]. - In 2025, the company will focus on independent innovation and enhancing product R&D to improve competitiveness, particularly in lens technology applications in various fields including WiFi devices, aiming for a gain of up to 10dBi[78]. Management and Governance - The company has adopted and complied with all corporate governance codes as per GEM listing rules, ensuring transparency and accountability[91]. - The audit committee reviewed the group's annual performance for the year ending December 31, 2024, and the interim performance for the six months ending June 30, 2024, confirming compliance with applicable accounting standards and regulations[94]. - The board confirmed that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[110]. Customer and Supplier Relations - Sales to the top five customers accounted for approximately 68.85% of the company's main business revenue for the year ending December 31, 2024, down from 81.12% in 2023[80]. - The procurement amount from the top five suppliers represented about 44% of the total procurement for the year ending December 31, 2024, compared to 43.96% in 2023[80]. Future Outlook - The company plans to enhance internal management and optimize personnel allocation to improve efficiency in 2025[19]. - The company is actively working on reducing costs and expenses by fully utilizing existing resources[21]. - The company plans to actively participate in innovative application projects like "Signal Upgrade" and "Broadband Frontier," promoting lens antennas in remote areas to improve network service quality and support local economic development[79].
海天天线(08227) - 2024 - 年度业绩