Financial Performance - Revenue increased by 24.8% to RMB 1,165,300,000[3] - Gross profit rose by 9.0% to RMB 202,700,000[3] - Profit attributable to owners of the company was RMB 55,600,000[3] - Basic earnings per share decreased to RMB 6.52 from RMB 7.39[5] - The company reported a total comprehensive income of RMB 69,277,000, down from RMB 72,727,000[5] - Total revenue for the year 2024 reached RMB 1,165,256,000, a 25% increase from RMB 933,930,000 in 2023[15] - Revenue from the Chinese market was RMB 783,720,000, up 29.4% from RMB 605,699,000 in 2023[16] - The company reported a profit before tax of RMB 58,959,000 for 2024, down from RMB 64,653,000 in 2023[23] - Basic earnings per share for the year were approximately RMB 55,552,000, compared to RMB 63,000,000 in 2023[25] - The gross profit for the year was approximately RMB 202.7 million, with a gross margin of 17.4%, down from 19.9% in 2023[46] - The company recorded a profit attributable to equity holders of approximately RMB 55.6 million, with basic earnings per share of RMB 6.52, compared to RMB 63 million or RMB 7.39 per share in 2023[48] Assets and Liabilities - Total assets less current liabilities amounted to RMB 1,381,458,000[6] - Non-current assets totalled RMB 1,159,555,000, up from RMB 1,072,970,000[6] - Current assets increased to RMB 780,919,000 from RMB 636,979,000[6] - Trade receivables rose significantly to RMB 354,601,000 from RMB 226,689,000[6] - Non-current assets as of December 31, 2024, were valued at RMB 1,152,793,000, an increase from RMB 1,066,147,000 in 2023[12] - Total current assets reached approximately RMB 780,900,000 in 2024, up from RMB 637,000,000 in 2023, while total current liabilities increased to RMB 559,000,000 from RMB 460,300,000[57] - Cash and cash equivalents amounted to approximately RMB 83,400,000 in 2024, compared to RMB 64,400,000 in 2023[58] - Interest-bearing bank borrowings were approximately RMB 676,800,000 in 2024, an increase from RMB 605,000,000 in 2023[59] - The net debt ratio decreased to 35.1% in 2024 from 36.2% in 2023[57] Investments and Expenditures - The company has made significant investments in construction projects, with capital expenditures of RMB 346,068,000 during the year[27] - Research and development expenses increased to RMB 47,703,000 in 2024 from RMB 38,288,000 in 2023[20] - Research and development costs amounted to approximately RMB 47.7 million, up from RMB 38.3 million in 2023, highlighting the company's commitment to maintaining long-term competitiveness[51] Trade and Inventory - Trade receivables amount to RMB 359,741,000 as of December 31, 2024, up from RMB 232,065,000 in 2023, with a provision for impairment increasing from RMB 5,429,000 to RMB 8,872,000[29][30] - The aging analysis of trade receivables shows that RMB 270,797,000 is within 3 months overdue, compared to RMB 177,062,000 in 2023[30] - Inventory as of December 31, 2024, totals RMB 241,403,000, compared to RMB 232,334,000 in 2023, with raw materials decreasing from RMB 125,863,000 to RMB 100,135,000[29] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with a review of its governance procedures conducted by the board[74] - The roles of Chairman and CEO are held by the same individual, Mr. Liu Jun, who has extensive experience in the materials market, which the board believes benefits the group's business outlook[74] - The company has complied with the standards for securities trading by directors as outlined in the listing rules, with all directors confirming adherence for the fiscal year ending December 31, 2024[75] - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and financial reporting matters for the fiscal year ending December 31, 2024[77] Market and Strategic Initiatives - Domestic sales accounted for approximately 67.3% of total revenue, while export sales made up about 32.7%, reflecting a slight shift in revenue sources compared to the previous year[40] - The company plans to continue its talent strategy and invest in high-performance green products and digital technology to enhance competitiveness amid global market challenges[42] - The company plans to develop ecological building materials and expand into overseas markets while promoting the "Sijia Super Energy Core" brand[67] - The company aims to achieve digitalization of business operations and enhance management efficiency through various strategic initiatives[68] Other Financial Information - The company did not recommend any dividends for the year ending December 31, 2024[24] - The total borrowing cost for 2024 was RMB 20,057,000, compared to RMB 17,564,000 in 2023[19] - Financial costs increased to RMB 9,600,000 in 2024 from RMB 7,800,000 in 2023, primarily due to increased bank loans[54] - Total equity as of December 31, 2024, was approximately RMB 827,400,000, reflecting a 9.1% increase from RMB 758,200,000 in 2023[56] Trading Status - The company's shares have been suspended from trading since February 14, 2013, and will continue to be suspended until further notice[78] - The annual performance announcement for the fiscal year ending December 31, 2024, will be published on the Hong Kong Stock Exchange and the company's website[79]
中国龙天集团(01863) - 2024 - 年度业绩