Financial Performance - Revenue increased from RMB 21,059.3 million for the year ended December 31, 2023, to RMB 29,233.0 million for the year ended December 31, 2024, representing a growth of 38.8%[4] - Gross profit rose from RMB 3,382.0 million for the year ended December 31, 2023, to RMB 5,352.5 million for the year ended December 31, 2024, with a gross margin of 18.3%, up 2.2 percentage points from 16.1%[4] - Profit for the year reached RMB 3,208.8 million, an increase of 86.4% compared to RMB 1,721.5 million for the year ended December 31, 2023[4] - Profit attributable to owners of the company increased by 68.7% to RMB 1,773.2 million from RMB 1,051.4 million for the year ended December 31, 2023[4] - Total comprehensive income for the year was RMB 3,370.1 million, compared to RMB 1,897.7 million for the previous year[6] - The company achieved a revenue of RMB 29,233 million in 2024, representing a year-on-year growth of 38.8%[46] - The net profit attributable to shareholders reached RMB 1,773.2 million, an increase of 68.7% compared to the previous year[52] Dividends - The board proposed a final dividend of RMB 0.35 per share (pre-tax) for the year ended December 31, 2024, compared to RMB 0.20 per share (pre-tax) for the previous year[4] - The proposed final dividend for the year ending December 31, 2024, is RMB 0.35 per share, with total dividends distributed amounting to RMB 1,423,340,000[31] Assets and Liabilities - Non-current assets increased to RMB 25,357.7 million as of December 31, 2024, from RMB 20,400.9 million as of December 31, 2023[7] - Current assets rose to RMB 12,599.3 million as of December 31, 2024, compared to RMB 10,278.9 million as of December 31, 2023[8] - Total liabilities increased to RMB 20,000.4 million as of December 31, 2024, from RMB 16,194.4 million as of December 31, 2023[8] Revenue Sources - Revenue from nickel product sales amounted to RMB 28,255,139 thousand, up 38.8% from RMB 20,376,803 thousand in the previous year[18] - Revenue from services transferred over time was RMB 1,714,289 thousand, compared to RMB 1,139,012 thousand in 2023, reflecting a 50.2% increase[18] - The company reported a significant increase in revenue from other regions, which rose to RMB 3,647,205 thousand from RMB 834,638 thousand in 2023[16] Production and Capacity - The company’s nickel production capacity includes 120,000 tons of nickel-cobalt compounds from hydrometallurgical processes and 280,000 tons of nickel iron from pyrometallurgical processes[52] - The company successfully achieved full production capacity for the HPAL project in Indonesia, contributing to stable operational performance[46] - The HPAL project has achieved design capacity within two months of production, setting multiple industry records and is one of the lowest cash cost nickel-cobalt compound production projects[66] Market and Industry Trends - In 2024, the global nickel market faced a complex supply-demand situation, with Indonesia maintaining a relatively balanced but tightening nickel ore supply[47] - The demand for nickel in the new energy vehicle sector is expected to grow, with the market for nickel sulfate experiencing a temporary shortage in 2024[48] - The production of stainless steel in China reached 39.44 million tons in 2024, an increase of 7.54% year-on-year[51] - The sales volume of new energy vehicles in China reached 12.886 million units in 2024, a year-on-year increase of 35.5%[50] Strategic Initiatives - The company is actively responding to national policies for green transformation, aiming to integrate advanced Chinese technology with global resources[52] - The company is focusing on the Obi project in Indonesia as a key driver for future profit growth, ensuring the production line starts smoothly and operates efficiently[75] - The company plans to deepen cooperation with top domestic educational and research institutions in 2024 to drive technological innovation and industry upgrades, with tailings treatment technology development nearing completion[70] Financial Management - The total income tax expense for 2024 was RMB 608,290,000, compared to RMB 40,024,000 in 2023, marking a substantial increase of 1415.7%[31] - Administrative expenses increased by 11.4% from RMB 928.0 million to RMB 1,033.8 million, mainly due to business expansion and rising employee costs[85] - Financing costs rose from RMB 534.9 million to RMB 647.5 million, attributed to increased bank borrowings and rising interest rates[87] Corporate Governance - The company has maintained compliance with the corporate governance code, except for specific provisions regarding the separation of roles between the chairman and CEO[115] - The audit committee has reviewed the annual performance and consolidated financial statements for the year ending December 31, 2024, ensuring effective risk management policies are in place[120] Community and Environmental Responsibility - The company actively engaged in community development and environmental protection projects in the Obi project area, demonstrating its commitment to social responsibility[46] - The company has established a comprehensive ESG operating system and continues to optimize ESG-related matters, integrating sustainable development concepts into all aspects of trade, production, and sales[74]
力勤资源(02245) - 2024 - 年度业绩