Revenue and Financial Performance - Revenue for the year ended December 31, 2024, was RMB 4,484,454,000, representing an increase of 2.84% compared to RMB 4,360,280,000 in 2023[3] - For the year ending December 31, 2024, total revenue reached RMB 4,484,454,000, a slight increase from RMB 4,360,280,000 in 2023, representing a growth of approximately 2.84%[17] - The construction services segment generated RMB 3,066,637,000, accounting for 68.38% of total revenue, significantly up from RMB 1,671,698,000 (38.34%) in the previous year[17] - The revenue from solar EPC business increased by approximately 192.0% to RMB 1,795.0 million in 2024, while the gross margin decreased from 7.7% to 5.7%[30] - The revenue from wind EPC business was approximately RMB 801.3 million with a gross margin of 2.8%[31] Losses and Earnings Per Share - The company reported a loss attributable to owners of the company of RMB 55,137,000 for 2024, compared to a loss of RMB 22,743,000 in 2023, indicating a significant increase in losses[5] - Basic and diluted loss per share for the year was RMB (0.022), compared to RMB (0.009) in the previous year, reflecting a worsening financial position[5] - The company reported a basic loss per share of RMB (0.022) for the year ending December 31, 2024, compared to RMB (0.009) in 2023, indicating a deterioration in performance[22] Assets and Liabilities - Total assets increased to RMB 22,805,882,000 in 2024 from RMB 21,638,452,000 in 2023, showing a growth of approximately 5.39%[7] - Non-current assets rose to RMB 8,803,397,000 in 2024, up from RMB 8,528,079,000 in 2023, indicating a growth of about 3.21%[6] - Current liabilities increased to RMB 12,427,613,000 in 2024 from RMB 10,795,996,000 in 2023, representing an increase of approximately 15.11%[7] - The total equity attributable to owners of the company decreased to RMB 4,231,924,000 in 2024 from RMB 4,318,158,000 in 2023, a decline of approximately 1.99%[7] - Trade receivables increased to RMB 7,901,839,000 from RMB 6,111,527,000, reflecting a growth of approximately 29.3% year-over-year[23] - The total amount of trade receivables, net of provision for losses, was RMB 6,809,611,000, an increase from RMB 5,091,689,000 in 2023[23] - The accounts receivable for trade amounted to RMB 5,785.9 million as of December 31, 2024, an increase from RMB 4,382.6 million in 2023[24] - The accounts payable totaled RMB 4,325.5 million as of December 31, 2024, compared to RMB 3,338.1 million in 2023[25] Dividends - The company did not declare any final dividend for the year ended December 31, 2024, consistent with the previous year[3] - The company did not declare any dividends for the year ending December 31, 2024, consistent with the previous year[20] - The company did not recommend a final dividend for the year ended December 31, 2024, consistent with the previous year[38] Operating Profit and Expenses - The company reported a net operating profit of RMB 481,652,000 for 2024, down from RMB 547,842,000 in 2023, indicating a decline of about 12.06%[4] - The gross profit decreased by approximately RMB 243.7 million or 24.5% to about RMB 751.2 million in 2024, down from RMB 994.9 million in 2023[28] - The income tax expense for the year was RMB 17,058,000, slightly down from RMB 17,650,000 in 2023, with a corporate tax rate of 25% applicable to most subsidiaries[18] Capital Expenditures and Financing - Capital expenditures for the year were approximately RMB 567.1 million, down from RMB 1,097.6 million in 2023[37] - The company has outstanding bank loans and bonds totaling approximately RMB 7,622.2 million with interest rates ranging from 3.3% to 6.8%[36] - The company completed the issuance of the first batch of bonds amounting to RMB 100 million with a coupon rate of 3.45%[39] Governance and Compliance - The audit committee has been established in compliance with listing rules and is responsible for overseeing the financial reporting process and internal control procedures[42] - The audit committee consists of three independent non-executive directors, chaired by Mr. Yi Yongfa[42] - The financial figures in the announcement are consistent with the audited consolidated financial statements for the fiscal year 2024[44] - The annual performance announcement will be available on the Hong Kong Stock Exchange and the company's website[45] Future Outlook - The company expects to continue its operations based on the assessment of sufficient resources for the foreseeable future[9] - The company has not applied any new international financial reporting standards that are not yet effective, indicating a stable approach to accounting practices[11] - The company’s management is assessing the impact of the new international financial reporting standards but does not expect significant effects on the financial statements[12] - The company’s deferred tax assets and liabilities related to the new international tax regulations are currently not applicable, as the legislation has not yet come into effect[19] Share Incentive Plan - No instructions were given to purchase any shares using company resources for unexecuted rewards under the share incentive plan for the year ending December 31, 2024[43]
水发兴业能源(00750) - 2024 - 年度业绩