Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 288,825,000, an increase of 9.0% compared to RMB 264,457,000 in 2023[3] - Gross profit for the same period was RMB 44,774,000, resulting in a gross margin of 15.5%, up from 6.3% in the previous year[3] - The net profit from continuing operations was RMB 6,551,000, a significant recovery from a loss of RMB 19,249,000 in 2023[3] - The company reported a loss from discontinued operations of RMB 12,250,000 in 2023, which was eliminated in the current fiscal year[4] - Earnings per share from continuing and discontinued operations was RMB 0.64, compared to a loss of RMB 9.54 in the previous year[4] - The company reported a net profit of RMB 6,551,000 for the year ended December 31, 2024, compared to a loss of RMB 31,499,000 in 2023, indicating a significant turnaround in performance[5] - Total comprehensive income for the year was RMB 5,803,000, a recovery from a comprehensive loss of RMB 33,141,000 in the previous year[6] - The company reported a significant increase in trade receivables, which rose to RMB 104,018,000 in 2024 from RMB 92,783,000 in 2023, reflecting growth in sales[7] - The group’s total sales from continuing operations increased by 9.2% from RMB 264.5 million to RMB 288.8 million during the reporting period[63] - Gross profit margin improved significantly from 6.3% to 15.5%, resulting in a net profit of approximately RMB 6.6 million compared to a net loss of RMB 31.5 million in the same period last year[63] Revenue Sources - Revenue from continuous operations in China for 2024 reached RMB 288,661,000, an increase of 9.4% from RMB 264,299,000 in 2023[20] - Revenue from the sale of PCBA and electronic components amounted to RMB 100,889,000 in 2024, with no revenue reported in 2023[23] - Revenue from telecommunications devices increased by 12.6% to approximately RMB 158.5 million, driven by increased orders from major customers[66] - Revenue from automotive-related devices rose by approximately RMB 13.2 million to about RMB 72.0 million, attributed to customer satisfaction with technology and quality[67] - Revenue from IoT products decreased by 23.6% to approximately RMB 47.7 million due to declining market demand in a sluggish macroeconomic environment[67] Expenses and Cost Management - The company achieved a reduction in sales and distribution expenses to RMB 3,484,000 from RMB 2,363,000, indicating improved cost management[4] - Administrative and other operating expenses increased slightly to RMB 32,838,000 from RMB 31,714,000, reflecting ongoing investments in operations[4] - Selling and distribution expenses increased by approximately 47.4% to about RMB 3.5 million, attributed to higher transportation costs due to capacity utilization adjustments[74] - Administrative and other expenses decreased by approximately 7.9% to about RMB 32.8 million, mainly due to the sale of financial technology business in the second half of 2023[75] - Employee costs, including director remuneration, decreased from RMB 85,742 million in 2023 to RMB 64,825 million in 2024, a decline of about 24.4%[29] Assets and Liabilities - The company's non-current assets decreased to RMB 115,152,000 in 2024 from RMB 147,506,000 in 2023, primarily due to a reduction in property, plant, and equipment[7] - Current assets increased to RMB 227,094,000 in 2024, up from RMB 193,308,000 in 2023, driven by higher trade receivables[7] - The company's cash and cash equivalents rose to RMB 73,719,000 in 2024, compared to RMB 60,696,000 in 2023, reflecting improved liquidity[7] - Non-current liabilities decreased to RMB 12,167,000 in 2024 from RMB 13,955,000 in 2023, indicating a reduction in financial obligations[8] - The total equity attributable to the company's owners increased to RMB 263,389,000 in 2024 from RMB 262,541,000 in 2023, showing stability in shareholder value[8] Strategic Focus and Future Outlook - The company plans to focus on market expansion and new product development to drive future growth[2] - The financial outlook for 2025 suggests continued revenue growth, with strategic initiatives aimed at enhancing operational efficiency and market presence[2] - The group plans to actively expand its customer base and product portfolio to diversify revenue sources and mitigate business risks[64] - The group will continue to invest in developing internal capabilities to keep pace with the latest industry technology developments[64] - The group aims to maintain a cautious approach towards expenditures and expansion to reduce financial risks[64] Corporate Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules, with a focus on internal controls and adequate disclosures[95] - The audit committee, established on September 20, 2019, consists of three independent non-executive directors and has reviewed the audited financial results for the year ending December 31, 2024[96] - The financial figures in the preliminary announcement have been confirmed by the auditors, ensuring accuracy in the reported financial statements[99] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[100] - The annual report for the year ending December 31, 2024, will be sent to shareholders in due course[100]
信恳智能(01967) - 2024 - 年度业绩