Financial Performance - Revenue for the year ended December 31, 2024, was RMB 122,311,000, representing an increase of 82.01% compared to RMB 67,200,000 in 2023[4] - Total comprehensive loss for the year decreased to RMB (198,610,000), a reduction of 44.69% from RMB (359,116,000) in the previous year[4] - Adjusted net loss for the year was RMB (161,959,000), an increase of 8.68% compared to RMB (149,027,000) in 2023[4] - Gross profit for the year was RMB 54,013,000, up from RMB 32,064,000 in 2023, indicating a significant improvement in profitability[5] - The company reported a basic loss per share of RMB (0.22) for 2024, compared to RMB (0.62) in 2023, indicating improved performance[5] - The pre-tax loss for the year ended December 31, 2024, was RMB 198,558,000, a significant improvement from the pre-tax loss of RMB 359,116,000 for the year ended December 31, 2023, representing a reduction of approximately 44.7%[23] - The tax expense calculated at the statutory rate of 25% for the year ended December 31, 2024, was RMB 49,640,000, down from RMB 89,779,000 in 2023, indicating a decrease of about 44.8%[23] - The loss for the year ended December 31, 2024, was RMB 198.61 million, compared to a loss of RMB 359.12 million for the year ended December 31, 2023[108] Revenue Sources - Revenue from integrated software solutions in hospitals increased to RMB 79,316 thousand, up 92% from RMB 41,224 thousand in the previous year[15] - Revenue from external hospital integrated software solutions rose to RMB 26,789 thousand, a substantial increase of 368% from RMB 5,723 thousand[15] - The company recognized a total income of RMB 31,303 thousand from Customer A for the year ended December 31, 2024, compared to RMB 26,821 thousand in 2023[18] Expenses and Costs - Research and development expenses increased to RMB (119,424,000) from RMB (90,733,000) in the previous year, reflecting ongoing investment in innovation[5] - Total financial costs for the year ended December 31, 2024, amounted to RMB 22,025 thousand, an increase of 9% from RMB 20,216 thousand in 2023[20] - Selling and distribution expenses increased from RMB 38.40 million for the year ended December 31, 2023, to RMB 48.02 million for the year ended December 31, 2024, an increase of 25.05%[102] - Administrative expenses rose from RMB 54.40 million for the year ended December 31, 2023, to RMB 59.93 million for the year ended December 31, 2024, an increase of 10.17%[104] - R&D expenses increased from RMB 90.73 million for the year ended December 31, 2023, to RMB 119.42 million for the year ended December 31, 2024, an increase of 31.62%[105] Assets and Liabilities - Cash and cash equivalents at year-end were RMB 343,882,000, a substantial increase from RMB 57,577,000 in 2023[6] - The total liabilities increased to RMB 782,007,000 in 2024 from RMB 392,844,000 in 2023, primarily due to increased operational activities[6] - Trade receivables increased significantly to RMB 105,312,000 as of December 31, 2024, compared to RMB 50,740,000 in 2023, reflecting a growth of 107.5%[36] - The company reported a total of RMB 138,250,000 in trade and other receivables as of December 31, 2024, up from RMB 78,062,000 in 2023, indicating a year-over-year increase of 77.1%[36] - The company’s total assets, including property, plant, and equipment, reached RMB 60,186,000 by December 31, 2024, up from RMB 43,469,000 in 2023, indicating a growth of 38.2%[31] Cash Flow and Financing - The company secured two new bank loans of RMB 10,000,000 and RMB 4,072,000 in 2024, with fixed interest rates of 5.00% and 3.00%, respectively[54] - The company has a long-term bond with a total subscription amount of RMB 300 million, with an annual nominal interest rate of 6%[42] - The company must comply with financial covenants related to its long-term bonds, including investment thresholds of RMB 50 million, RMB 100 million, and RMB 360 million over the first three years[45] Strategic Initiatives - The company plans to continue expanding its digital therapy solutions in China, focusing on cognitive impairment treatments[9] - The company is focused on transforming brain science research into digital therapy products to benefit cognitive disorder patients[71] - The company plans to expand its international footprint and seek strategic acquisition opportunities to enhance global influence[94] Clinical Trials and Product Development - Clinical trials for interventions related to hypertension-induced cognitive impairment are scheduled to complete data analysis by Q2 2025, with commercialization expected in 2026[76] - The company has ongoing clinical trials for Alzheimer's disease interventions, with a milestone achieved in June 2020[76] - The product pipeline includes assessments and interventions for schizophrenia and depression, with commercial launch anticipated in 2026[76] - The company plans to initiate clinical trials for attention deficit hyperactivity disorder (ADHD) and substance addiction interventions by Q2 2025[77] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions since its expected listing date on January 8, 2025[128] - The audit committee has reviewed the annual financial performance and found it compliant with relevant accounting standards[137] Shareholder Information - The board does not recommend the distribution of a final dividend for the year ending December 31, 2024[140] - The company issued 1,266,278,000 shares at an offering price of HKD 3.22 per share on January 8, 2025[139]
脑动极光-B(06681) - 2024 - 年度业绩