Financial Performance - Revenue for the year ended December 31, 2024, was approximately RMB 2,798 million, a decrease of about 10% compared to RMB 3,116 million for the year ended December 31, 2023[3]. - The loss for the year was approximately RMB 2,166 million, an increase of about 118% compared to a loss of RMB 994 million for the year ended December 31, 2023[3]. - Loss attributable to ordinary shareholders was approximately RMB 1,739 million, an increase of about 153% compared to RMB 688 million for the year ended December 31, 2023[3]. - Basic loss per share was approximately RMB 1.458, an increase of RMB 0.881 compared to RMB 0.577 for the year ended December 31, 2023[5]. - The group recorded a net loss of RMB 2,166,241,000 for the year ending December 31, 2024, with current liabilities exceeding current assets by RMB 3,767,846,000[13]. - The group recorded revenue of approximately RMB 2,798.2 million, a decrease of about 10.2% compared to RMB 3,116.5 million for the year ended December 31, 2023[51][52]. - The group reported a net loss of approximately RMB 2,166.2 million, an increase of about 117.8% compared to the previous year[51]. Assets and Liabilities - Total assets as of December 31, 2024, were RMB 44,468 million, a decrease from RMB 46,844 million as of December 31, 2023[6]. - Total liabilities as of December 31, 2024, were RMB 33,307 million, down from RMB 43,393 million as of December 31, 2023[7]. - The company's equity attributable to ordinary shareholders was RMB 309 million, a decrease from RMB 1,986 million as of December 31, 2023[7]. - Non-current assets decreased to RMB 35,491 million from RMB 37,709 million as of December 31, 2023[6]. - The company's total assets as of December 31, 2024, were RMB 44,468,734 thousand, while total liabilities were RMB 33,307,412 thousand[20]. - The ratio of assets to liabilities decreased from approximately 89.71% to 64.59%, primarily due to reduced borrowings and increased permanent capital instruments[71]. Cash Flow and Financing - Total borrowings amounted to RMB 21,369,470,000, with current borrowings at RMB 2,922,052,000 and cash and cash equivalents only at RMB 1,008,079,000[13]. - The group has unused project loan financing available up to RMB 3,207,884,000 to cover part of the construction costs and capital expenditures due in the next 12 months[14]. - Cash and cash equivalents increased by approximately RMB 108.9 million to RMB 1,008.1 million, a growth of about 12.1% due to higher cash inflows from investment activities[67]. Operational Performance - The group operates in five business segments: wastewater treatment, water supply, construction and equipment sales, solid waste treatment, and other services[18][19]. - Total revenue from external customers for the wastewater treatment segment was RMB 1,381,031 thousand, while the solid waste treatment segment generated RMB 558,406 thousand, contributing to a total revenue of RMB 2,798,209 thousand for the year ended December 31, 2024[20]. - The gross profit for the wastewater treatment segment was RMB 387,212 thousand, and for the solid waste treatment segment, it was RMB 6,133 thousand, leading to a total gross profit of RMB 453,733 thousand[20]. - The average utilization rate for wastewater treatment was approximately 78.26%, with an average treatment fee of RMB 1.46 per ton[45]. - The group operated 121 wastewater treatment projects with a total daily processing capacity of approximately 3,166,250 tons[45]. - The group had 60 water supply projects with a total daily processing capacity of approximately 2,214,100 tons, with an average utilization rate of 64.53% and an average fee of RMB 2.34 per ton[46]. - The solid waste treatment segment reported a total annual processing capacity of 4,117,280 tons, with an average utilization rate of 79.37%[47]. Expenses and Costs - The company reported a significant increase in administrative expenses to RMB 633 million from RMB 423 million for the year ended December 31, 2023[4]. - Depreciation and amortization expenses totaled RMB 640,194 thousand for the year ended December 31, 2024[20]. - Net financing costs rose by approximately RMB 179.6 million to RMB 1,130.8 million, an increase of about 18.9%, primarily due to new loan agreements and increased amortization[61]. Corporate Governance and Compliance - The company emphasizes the importance of effective environmental, social, and governance (ESG) management policies for sustainable development[84]. - The company has complied with all applicable corporate governance codes during the reporting period[86]. - The Audit Committee held seven meetings during the reporting period, discussing key topics such as the annual performance and internal control evaluation[90]. - The Nomination Committee held three meetings, focusing on candidates for the fourth board of directors[92]. - The Remuneration Committee conducted six meetings, addressing senior management compensation and performance-related pay[95]. - The company is preparing an ESG report to be included in the 2024 annual report, detailing contributions to sustainable development[85]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[86]. Future Plans and Strategies - The group plans to actively seek new financing sources and divest certain franchise and construction projects to strengthen its capital structure[14]. - In 2024, the company aims to enhance operational efficiency and reduce costs while addressing historical issues, focusing on price adjustments and asset management[42]. - The company intends to optimize its debt structure and improve asset allocation to enhance sustainable development momentum[43]. - The company will strengthen operational control and promote cost reduction and efficiency improvements, while enhancing capital operations and resource advantages[43]. - The company will implement a strict water-saving system to control total water usage and improve resource conservation capabilities[41]. - The company anticipates increased investment in water infrastructure projects due to supportive policies and funding channels[40].
云南水务(06839) - 2024 - 年度业绩