Financial Performance - Total operating revenue for the year ended December 31, 2024, was approximately RMB 1,330.3 million, an increase of about 3.4% compared to the same period in 2023[5] - Net profit for the year was approximately RMB 189.9 million, a decrease of about 15.2% compared to 2023[5] - Net profit attributable to the owners of the parent company was approximately RMB 177.2 million, down about 15.6% from the previous year[5] - Basic earnings per share were approximately RMB 0.21, a decrease of about 12.5% compared to 2023[5] - The company reported a total comprehensive income of RMB 189.9 million for the year, compared to RMB 223.9 million in 2023[7] - The company achieved a net profit of RMB 177,238 thousand for the year ending December 31, 2024, compared to RMB 209,901 thousand in 2023, reflecting a decrease of approximately 15.6%[34] - Basic earnings per share for the company were RMB 0.21 for 2024, down from RMB 0.24 in 2023, indicating a decline of 12.5%[34] - The company's net profit for the reporting period was RMB 1,899 million, a decrease of 15.2% from RMB 2,239 million in the same period of 2023, resulting in a net profit margin decline from 17.4% to 14.3%[55] Dividends - The board proposed a final dividend of RMB 0.04 per share, totaling approximately RMB 34.39 million, subject to shareholder approval[4] - The company plans to distribute a final dividend of RMB 0.04 per share for the year ending December 31, 2024, totaling approximately RMB 34.39 million, compared to RMB 0.05 per share in 2023[33] - The board proposed a final dividend of RMB 0.04 per share for the year ending December 31, 2024, compared to RMB 0.05 per share for 2023, totaling approximately RMB 343.9 million[76] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 7,188.1 million, compared to RMB 7,054.8 million as of December 31, 2023[9] - Total liabilities as of December 31, 2024, were RMB 4,039.6 million, slightly down from RMB 4,042.2 million in 2023[9] - Total assets as of December 31, 2024, amounted to RMB 7,165,789,000, compared to RMB 7,038,075,000 in 2023, an increase of 1.8%[23] - Total liabilities as of December 31, 2024, were RMB 4,034,688,000, slightly down from RMB 4,036,902,000 in 2023[23] Revenue Breakdown - Water supply business revenue increased to RMB 414,131,000 in 2024 from RMB 384,719,000 in 2023, a growth of 7.6%[21] - Wastewater treatment revenue rose to RMB 660,047,000 in 2024, up from RMB 607,255,000 in 2023, reflecting an increase of 8.7%[21] - Water sales revenue reached RMB 414.1 million, up 7.6% from RMB 384.7 million in 2023, accounting for 31.1% of total revenue[46] - Wastewater treatment revenue increased by 8.7% to RMB 660.0 million from RMB 607.3 million in 2023, representing 49.6% of total revenue[47] Operational Metrics - The total volume of water sold was approximately 166.0 million tons, a 1.6% increase from 163.4 million tons in 2023[43] - The total volume of urban wastewater treated was approximately 175.2 million tons, a 9.44% increase from 160.1 million tons in 2023[44] - The company operated 12 water supply plants with a total daily supply capacity of approximately 774,000 tons, maintaining an average utilization rate of 70.7%[43] Costs and Expenses - Operating costs rose to RMB 867.4 million, a 3.0% increase from RMB 842.1 million in 2023, primarily due to increased water and wastewater treatment volumes[48] - Interest expenses for the year increased to RMB 88,938,000 in 2024 from RMB 77,484,000 in 2023, an increase of 14.5%[24] - Current income tax expense for 2024 was RMB 43,852,000, compared to RMB 40,630,000 in 2023, an increase of 5.5%[25] Investments and Financing - The company's total borrowings at the end of the reporting period were approximately RMB 29,233 million, with a debt-to-equity ratio of 106.9%, up from 102.3% at the end of 2023[66] - The company's financing costs for the reporting period amounted to RMB 859 million, an increase of 19.6% compared to RMB 718 million in the same period of 2023[55] Taxation and Incentives - The company is eligible for a 15% corporate income tax rate under the Western Development tax policy, which is applicable until December 31, 2030[28] - The company is also benefiting from tax incentives for environmental protection and energy-saving projects, including a three-year exemption from corporate income tax for qualifying projects[32] Corporate Governance - The company has complied with all applicable provisions of the corporate governance code during the reporting period[89] - The audit committee reviewed the annual performance announcement and the consolidated financial statements for the reporting period[82] - The company has adopted the standard code for securities transactions by directors and supervisors, with all confirmed compliance during the reporting period[90] Employee and Compensation - The company employed 867 staff members, with total employee compensation and benefits amounting to approximately RMB 1,719 million, an increase from RMB 1,606 million in 2023[67] Strategic Focus - The company continues to focus on environmental protection and energy-saving investments, which may qualify for tax incentives under current regulations[27] - The company plans to focus on industrial wastewater treatment based on liquor wastewater and continue promoting urban-rural integrated water supply and drainage[41] - The company is leveraging AI technologies to enhance digital economy capabilities and accelerate the development of smart water services, aiming for significant upgrades in water resource security and ecological protection[40] Shareholder Information - The company will suspend share transfer registration from June 24 to June 27, 2025, to determine eligibility for voting at the annual general meeting[79] - The company will distribute the final dividend to shareholders listed on the register as of July 15, 2025, pending approval at the annual general meeting[80] - At least 25% of the company's total issued share capital is held by the public as of the announcement date[93]
兴泸水务(02281) - 2024 - 年度业绩