Financial Performance - Total revenue for the year ending December 31, 2024, was RMB 76,736,000, a decrease from RMB 278,286,000 in the previous year, representing a decline of approximately 72.5%[2] - Gross profit for the same period was RMB 6,936,000, down from RMB 37,006,000, indicating a decrease of about 81.2%[2] - The company reported a net loss of RMB 41,310,000 for the year, compared to a profit of RMB 7,590,000 in the previous year, reflecting a significant shift in performance[3] - The total comprehensive loss for the year was RMB 41,408,000, compared to a comprehensive income of RMB 7,810,000 in the previous year[3] - Basic and diluted loss per share was RMB 0.70, compared to earnings of RMB 0.08 per share in the previous year[3] - The company experienced a significant decline in sales cost, which was RMB 69,800,000, down from RMB 241,280,000, a decrease of approximately 71.1%[2] - The overall financial performance indicates a need for strategic adjustments to improve profitability and market position[2] Income and Expenses - Other income and gains amounted to RMB 3,432,000, compared to RMB 2,233,000 in the previous year, showing an increase of approximately 54%[2] - The company incurred selling and administrative expenses of RMB 13,349,000, which was lower than RMB 15,182,000 from the previous year, indicating a reduction of about 12.1%[2] - The company's income tax expense for the year 2024 is RMB 536,699 thousand, compared to RMB 1,616 thousand in the previous year[25] - The total income tax expense for land value increment tax in 2024 is RMB 37,550 thousand, compared to RMB 5,144 thousand in 2023[25] - The company reported a significant increase in operating expenses, with direct operating costs rising to RMB 31 thousand in 2024 from RMB 57 thousand in 2023[25] - The total employee compensation for the year 2024 is RMB 8,144 thousand, slightly down from RMB 8,013 thousand in 2023[25] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 980,821 thousand, a decrease from RMB 1,106,964 thousand in 2023[4] - Non-current assets were valued at RMB 111,665 thousand in 2024, compared to RMB 91,972 thousand in 2023, reflecting a growth of approximately 21%[4] - Current assets reached RMB 874,729 thousand in 2024, slightly down from RMB 880,792 thousand in 2023[4] - Total liabilities decreased to RMB 321,143 thousand in 2024 from RMB 378,523 thousand in 2023, indicating a reduction of about 15%[5] - The net asset value was RMB 661,224 thousand in 2024, compared to RMB 731,306 thousand in 2023, showing a decline of approximately 9.6%[5] - The company's equity attributable to owners was RMB 747,565 thousand in 2024, down from RMB 788,061 thousand in 2023, representing a decrease of about 5.1%[5] - Deferred tax liabilities were RMB 9,910 thousand in 2024, compared to RMB 18,907 thousand in 2023, indicating a significant reduction of approximately 47%[6] Revenue Sources - The group reported sales from various residential projects, with notable contributions from the Wugang Kangqiao Academy project, generating RMB 158,132,000 in revenue[16] - All revenue sources for the group are derived from property development projects located in China, with no regional breakdown provided[23] - The group’s revenue is primarily driven by sales from property development projects in China[22] - The sales revenue from pre-sold properties for 2024 is projected to be RMB 101,012,000, compared to RMB 110,770,000 in 2023, reflecting a decrease of approximately 8.5%[35] Market and Strategic Outlook - The company plans to explore new market opportunities and enhance product development strategies moving forward[2] - The company continues to focus on residential projects in China, specifically in Xinyang City, Henan Province, and Wugang City, Hunan Province[42] - The central government has emphasized the importance of stabilizing the domestic real estate market, implementing measures such as lowering down payment requirements and mortgage rates[42] - The company aims to maintain a balanced approach between stable development, efficiency, and risk management[43] - The company is committed to developing high-quality properties and living communities, particularly in urban areas with strong housing demand[43] - The company will continue to innovate product features to meet customer demands for a better quality of life[43] Compliance and Governance - The group has adopted the revised Hong Kong Financial Reporting Standards, which became effective this year, without significant impact on the financial position and performance for the current and prior years[8] - The group has complied with the corporate governance code as of December 31, 2024, ensuring shareholder interests and transparency[56] - The board of directors does not recommend the payment of any dividends for the year ending December 31, 2024, consistent with the previous year[59] Employment and Operations - The company has approximately 34 full-time employees in China as of December 31, 2024[55] - The group has several ongoing property development projects with a total land area of 349,000 square meters and a total construction area of 1,107,000 square meters[44] Other Information - There have been no significant events following the reporting period[39] - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the year ending December 31, 2024[58] - The annual general meeting is scheduled for June 5, 2025, in Hong Kong[61] - The company will suspend share registration procedures from June 2, 2025, to June 5, 2025, for the purpose of processing proxy votes[62]
建德国际控股(00865) - 2024 - 年度业绩