Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 148,280,000, a decrease of 47.8% compared to RMB 284,075,000 in 2023[4] - The gross loss for the year was RMB 8,968,000, compared to a gross profit of RMB 26,945,000 in the previous year, indicating a significant decline in profitability[4] - The operating loss increased to RMB 38,880,000 from RMB 8,639,000 in 2023, reflecting a worsening operational performance[4] - The net loss for the year was RMB 39,428,000, compared to a net loss of RMB 12,482,000 in 2023, representing an increase in losses by 216.5%[4] - Basic and diluted loss per share was RMB 0.139, compared to RMB 0.041 in the previous year, indicating a deterioration in shareholder value[4] - The company reported a total loss of RMB 42,080,000 for the year ended December 31, 2024, compared to a profit of RMB 11,661,000 in 2023[19] - The group recorded a gross loss of approximately RMB 9 million in 2024, a decrease of RMB 36 million or 133% from a gross loss of RMB 27 million in 2023, mainly due to intense market competition and rising raw material costs[52] - The group reported a net loss of approximately RMB 39.4 million in 2024, an increase of RMB 26.9 million from a net loss of RMB 12.5 million in 2023, primarily due to declining gross margins in the variable pitch control system and energy storage businesses[59] Asset and Liability Management - Non-current assets decreased to RMB 133,747,000 from RMB 141,226,000, showing a decline in long-term asset value[6] - Current assets decreased significantly to RMB 264,592,000 from RMB 377,113,000, indicating liquidity challenges[6] - Total liabilities decreased to RMB 168,534,000 from RMB 244,078,000, reflecting a reduction in financial obligations[6] - The company's equity attributable to shareholders decreased to RMB 223,237,000 from RMB 257,892,000, indicating a decline in net worth[7] - The asset-liability ratio for the group in 2024 is approximately 44%, a decrease of 6% from 50% in 2023, mainly due to optimized supply chain management[61] Revenue Breakdown - The sales of pitch control systems and related components generated revenue of RMB 53,669,000 in 2024, down 75.3% from RMB 217,569,000 in 2023[18] - The energy storage business saw significant growth, with revenue increasing to RMB 68,686,000 in 2024 from RMB 29,114,000 in 2023, representing a growth of 135.5%[18] - In 2024, the company's total revenue was approximately RMB 148.3 million, a decrease of about RMB 135.8 million or 47.8% compared to 2023, primarily due to a reduction in the delivery of blade transformers and maintenance services[47] - The sales revenue from the blade control system and related components in 2024 was approximately RMB 53.7 million, a decrease of about RMB 163.9 million or 75% compared to 2023, due to a decline in orders received and delivered[49] - The energy storage business achieved a revenue of approximately RMB 68.7 million in 2024, an increase of about RMB 40 million or 136% compared to 2023, reflecting customer recognition of the energy storage systems[49] Cost Management - Employee costs decreased from RMB 36,103,000 in 2023 to RMB 34,258,000 in 2024, reflecting a reduction of approximately 5.1%[5] - The cost of inventory recognized as an expense dropped significantly from RMB 246,037,000 in 2023 to RMB 148,019,000 in 2024, a decrease of about 39.9%[26] - The company's sales cost for 2024 was approximately RMB 157 million, a decrease of about RMB 100 million or 39% compared to 2023[50] - In 2024, the sales cost of the energy storage business is approximately RMB 77.1 million, an increase of RMB 55.1 million compared to RMB 22 million in 2023, primarily due to increased material and labor costs driven by higher revenue in the energy storage segment[51] Operational Highlights - The company continues to focus on the research, development, and sales of pitch control systems and related components, as well as energy storage business[10] - The company delivered 494 sets of blade control system products in 2024, a decrease of 73% compared to the previous year[41] - The annual operating hours of the company's wind farm in 2024 were 2,407 hours, with a total wind power generation of 46.47 million kWh[42] - The company has made progress in energy storage integration, with two project orders secured and the self-developed "1P104S Pack project" advancing smoothly[44] - The company aims to establish a complementary supply chain for energy storage products and systems to enhance its competitive advantage[45] Other Financial Information - Other income for 2024 was RMB 1,642,000, a decrease of 56.3% from RMB 3,756,000 in 2023[21] - The company incurred net financing costs of RMB 3,200,000 in 2024, compared to RMB 3,022,000 in 2023[19] - The company received government subsidies totaling RMB 113,000 in 2024, up from RMB 78,000 in 2023, reflecting support for technology development[22] - The net loss from foreign exchange was RMB 72,000 in 2024, compared to a loss of RMB 237,000 in 2023[23] - The company recorded a deferred tax expense of RMB (3,357,000) in 2024, compared to RMB (915,000) in 2023, indicating an increase in deferred tax liabilities[27] - The group’s other income in 2024 is approximately RMB 1.6 million, a decrease of RMB 2.4 million from RMB 4 million in 2023, mainly due to reduced VAT refunds[54] - The group’s administrative and other operating expenses decreased to approximately RMB 25 million in 2024 from RMB 31 million in 2023, a reduction of RMB 6 million due to lower labor costs and expenses[56] Shareholder Information - The company has not declared or paid any dividends for the years ending December 31, 2024, and 2023[29] - The board does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: none) [76] - The average number of ordinary shares outstanding remained constant at 250,000,000 for both 2024 and 2023[28] - The annual general meeting will be held on June 27, 2025, with a notice to be published in due course [79] - Share transfer registration will be suspended from June 24, 2025, to June 27, 2025, to qualify for voting at the annual general meeting [80] - The annual results announcement will be published on the company's website and the stock exchange website, with the annual report to be sent to shareholders as applicable [81] Audit and Compliance - The audit committee has reviewed the annual performance and the consolidated financial statements for the year ending December 31, 2024, prepared in accordance with international financial reporting standards [77] - The group's auditor, KPMG, confirmed that the figures in the preliminary announcement align with the audited consolidated financial statements for the year ending December 31, 2024 [78] - The group has no significant contingent liabilities as of December 31, 2024[65]
纳泉能源科技(01597) - 2024 - 年度业绩