Financial Performance - For the year ending December 31, 2024, the company's revenue was RMB 1,805.70 million, an increase of 6.57% compared to the same period in 2023[5] - The company's profit before tax for the year ending December 31, 2024, was RMB 138.32 million, a decrease of 17.90% compared to the same period in 2023[5] - The net profit attributable to equity holders for the year ending December 31, 2024, was RMB 99.90 million, a decrease of 17.41% compared to the same period in 2023[5] - The earnings per share for the year ending December 31, 2024, was RMB 0.21, a decrease of RMB 0.05 compared to the same period in 2023[5] - The company's operating profit for the year ending December 31, 2024, was RMB 138.14 million, down from RMB 169.76 million in 2023[10] - The company's total profit for the year ending December 31, 2024, was RMB 138.32 million, compared to RMB 168.47 million in 2023[10] - Total comprehensive income for 2024 is CNY 95,322,160.72, down from CNY 119,955,527.33 in 2023, reflecting a decline of 20.7%[12] - Basic and diluted earnings per share for 2024 are both CNY 0.21, compared to CNY 0.26 in 2023, indicating a decrease of 19.2%[12] - The total profit for 2024 was RMB 138.32 million, down from RMB 168.47 million in 2023, indicating a decrease of 17.88%[27] - The company reported a net profit of RMB 99.90 million for 2024, a decrease of 17.41% from RMB 120.96 million in 2023[62][63] Revenue Breakdown - Revenue from heating services for 2024 is CNY 1,621,633,563.59, an increase from CNY 1,576,503,226.62 in 2023, representing a growth of 2.9%[22] - Revenue from construction, maintenance, and design services for 2024 is CNY 288,068,570.10, up from CNY 212,285,644.28 in 2023, showing a growth of 35.6%[22] - Total revenue for 2024 is CNY 1,909,702,133.69, compared to CNY 1,788,788,870.90 in 2023, marking an increase of 6.7%[22] - The total revenue for 2024 reached RMB 1,805.70 million, an increase from RMB 1,694.42 million in 2023, representing a growth of 6.56%[27] Assets and Liabilities - The total current assets as of December 31, 2024, amounted to RMB 2,676.80 million, an increase from RMB 1,942.10 million as of December 31, 2023[6] - The total liabilities as of December 31, 2024, were RMB 2,578.97 million, compared to RMB 1,901.71 million as of December 31, 2023[8] - The total assets as of December 31, 2024, were RMB 3,745.84 million, an increase from RMB 3,006.59 million as of December 31, 2023[9] - The company's total assets as of December 31, 2024, amounted to RMB 3,745.84 million, with equity attributable to shareholders at RMB 1,043.16 million[34] Customer and Market Growth - The heating area served by the company increased to 69.76 million square meters, up by 3.94% from 67.12 million square meters in 2023[35] - The number of heating customers grew to 572,058, an increase of 3.72% from 551,558 customers in 2023[35] - As of December 31, 2024, the total number of customers reached 572,058, an increase from 551,558 in 2023, with residential users accounting for 88.38% and non-residential users 11.62%[37] Dividends and Shareholder Information - The company proposed a final dividend of RMB 0.065 per share for the year ending December 31, 2024, subject to shareholder approval[5] - The proposed final dividend per share for 2024 is RMB 0.065, down from RMB 0.09 in 2023, totaling RMB 30,335,500[29] - The company will withhold a 10% corporate income tax on dividends paid to non-resident H-share shareholders as per relevant tax regulations[97] - The record date for shareholders to qualify for the proposed final dividend for 2024 is June 4, 2025[104] Operational Efficiency and Costs - The operating costs for 2024 were RMB 1,548.55 million, reflecting an 8.40% increase from RMB 1,428.53 million in 2023[51] - The gross profit for 2024 was RMB 257.16 million, down 3.29% from RMB 265.89 million in 2023, resulting in a gross margin of 14.24% compared to 15.69% in 2023[57][58] - The maintenance and repair costs rose by 7.53% to RMB 131.15 million in 2024, attributed to an increase in external repair projects[54] - The company’s management expenses increased by 8.36% to RMB 108.94 million in 2024, primarily due to service fees related to A-share listing[59] Strategic Initiatives and Innovations - The group developed a "Heat Exchanger Efficiency Evaluation System" to enhance energy efficiency and is currently testing an "Equipment Ledger Management System" expected to be fully operational by mid-2025[45] - The group aims to enhance competitiveness and brand influence by focusing on energy efficiency and sustainable innovation in line with national energy-saving policies[81] - The group will accelerate digital transformation using big data and AI to optimize management and improve energy utilization efficiency[83] Corporate Governance - The company confirmed compliance with corporate governance codes, ensuring the audit committee consists of three independent non-executive directors[95] - The company has maintained a high level of corporate governance throughout the reporting period[88] - The audit committee has reviewed the annual performance for the year ending December 31, 2024, and agreed with the accounting treatment adopted by the company[95] Future Outlook and Risks - The group is exposed to strategic risks due to potential government policy adjustments affecting the heating industry, which may lead to increased compliance costs[67] - The group plans to diversify energy supply methods to mitigate the impact of energy price fluctuations on operational costs and profitability[69] - The group will continue to optimize corporate governance structures to enhance operational effectiveness and support sustainable development[86]
春城热力(01853) - 2024 - 年度业绩