Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 389,137,000, a significant increase of 158.5% compared to RMB 150,614,000 in the previous fiscal year[3] - The gross profit for the fiscal year 2024 was RMB 19,120,000, down 25.2% from RMB 25,534,000 in 2023, indicating challenges in maintaining profitability despite revenue growth[3] - The company incurred a net loss attributable to shareholders of RMB 28,417,000 for 2024, compared to a loss of RMB 12,716,000 in 2023, reflecting a deterioration in financial performance[3] - Basic and diluted loss per share increased to RMB 16.23 in 2024 from RMB 8.45 in 2023, highlighting the impact of increased losses on shareholder value[3] - The group reported a pre-tax loss of RMB 27,876,000 for 2024, compared to a loss of RMB 12,671,000 in 2023, reflecting a deterioration in performance[25] - The net loss before tax for 2024 was approximately RMB 27.9 million, compared to a net loss of RMB 12.7 million in 2023[35] - Gross profit decreased to approximately RMB 19.1 million in 2024, down 25.1% from RMB 25.5 million in 2023, with a gross margin of 4.9%[41] Revenue Breakdown - Revenue from the wholesale business was RMB 260,336,000 in 2024, up from RMB 150,614,000 in 2023, indicating a growth of 73%[23] - The supply chain management business generated RMB 128,801,000 in revenue for 2024, with no revenue reported in 2023[16] - The wholesale business of children's clothing and related products accounted for approximately RMB 260.3 million, representing 66.9% of total revenue in 2024[38] - The commodity trading segment contributed approximately RMB 128.8 million, making up 33.1% of total revenue in 2024[39] Assets and Liabilities - Total assets decreased to RMB 159,248,000 in 2024 from RMB 173,963,000 in 2023, indicating a decline in the company's asset base[4] - Total assets decreased to RMB 206,058,000 in 2024 from RMB 218,553,000 in 2023, a decline of approximately 5.7%[19] - Current liabilities slightly decreased to RMB 72,191,000 in 2024 from RMB 73,417,000 in 2023, showing a marginal improvement in the company's short-term financial obligations[5] - The group’s total liabilities slightly decreased to RMB 73,582,000 in 2024 from RMB 74,717,000 in 2023, showing a reduction of about 1.5%[19] - The company's equity decreased to RMB 132,476,000 in 2024 from RMB 143,836,000 in 2023, reflecting a reduction in net worth[5] Operational Expenses - Selling and distribution expenses increased by approximately 38.8% to RMB 25.4 million in 2024, accounting for 6.5% of revenue[44] - Administrative and other operating expenses rose by approximately 37.4% to RMB 21.4 million in 2024, representing 5.5% of revenue[45] - The group recognized a total of RMB 2,577,000 in inventory write-downs for 2024, compared to RMB 3,177,000 in 2023, indicating a reduction of 18.7%[20] - The group’s employee costs increased to RMB 27,071,000 in 2024 from RMB 26,485,000 in 2023, reflecting a rise of 2.2%[25] Cash Flow and Capital Expenditures - The net cash flow from operating activities for fiscal year 2024 was approximately RMB (35.6) million, compared to RMB (2.9) million in fiscal year 2023[55] - Capital expenditures for 2024 amounted to RMB 11,853,000, significantly higher than RMB 5,825,000 in 2023, marking an increase of 103.5%[20] Governance and Compliance - The board of directors consists of four executive directors and three independent non-executive directors for the fiscal year 2024[68] - The company did not provide monthly updates to the board members as required by the governance code, but did provide information as appropriate[69] - The audit committee has reviewed the audited consolidated financial statements for the fiscal year 2024[71] - The external auditor confirmed that the financial figures in the preliminary announcement are consistent with the audited financial statements[72] - The company has adopted the standard code for securities transactions by directors and confirmed compliance for the fiscal year 2024[70] Shareholder Relations - The board does not recommend a final dividend for the fiscal year ending December 31, 2024[73] - The company expresses gratitude to shareholders, customers, suppliers, management team, and employees for their ongoing support[75] - The annual performance announcement is available on the company's website and the Hong Kong Stock Exchange website[74] Leadership - The chairman of the board is Ding Peiji, who also serves as the CEO[76] - The company believes that the current arrangement of leadership does not weaken the balance of power and authority within the board[68]
米格国际控股(01247) - 2024 - 年度业绩