Financial Performance - Revenue for the year ended December 31, 2024, was RMB 534.3 million, a decrease of 25.3% compared to RMB 715.9 million in 2023[2] - Gross profit for the year was RMB 48.5 million, down 10.8% from RMB 54.3 million in the previous year[2] - The company recorded a net loss of RMB 54.8 million for the year, compared to a net loss of RMB 11.6 million in 2023[2] - The total comprehensive loss for the year was RMB 43,716,000, compared to RMB 32,394,000 in the previous year, indicating an increase in losses[5] - The loss attributable to the company's shareholders per share was RMB 5.05, a significant increase from RMB 1.17 in the previous year[5] - The company reported a total comprehensive income of RMB 22,436,000 for the year, a decrease from RMB 32,151,000 in the previous year[5] - The total loss attributable to the company’s shareholders was RMB 42,426,000, compared to RMB 19,551,000 in the previous year[5] - The company expects to continue facing challenges in the upcoming year, with a projected comprehensive loss of RMB 32,394,000[5] - The company will not reclassify any items in the future periods that would affect the comprehensive income statement[5] - The foreign exchange loss for the year was RMB 32,151,000, compared to RMB 22,436,000 in the previous year[5] Revenue Breakdown - Revenue from travel-related services increased by RMB 1.816 million, representing a growth of 34.0% year-on-year[2] - Revenue from external customers in mainland China was RMB 698,113,000 for the year ended December 31, 2024, compared to RMB 514,034,000 for the year ended December 31, 2023, representing a growth of 35.8%[21] - Revenue from external customers in Hong Kong was RMB 17,755,000 for the year ended December 31, 2024, compared to RMB 20,269,000 for the year ended December 31, 2023, indicating a decline of 7.4%[21] - Total revenue from external customers was RMB 715,868,000 for the year ended December 31, 2024, compared to RMB 534,303,000 for the year ended December 31, 2023, reflecting an overall increase of 33.9%[21] - Revenue from travel group sales increased from RMB 183,936 thousand in 2023 to RMB 289,075 thousand in 2024, a growth of about 57%[25] - Revenue from self-operated product sales rose from RMB 314,251 thousand in 2023 to RMB 397,529 thousand in 2024, marking an increase of approximately 27%[25] - Revenue from health products sales surged from RMB 5,273 thousand in 2023 to RMB 16,300 thousand in 2024, reflecting a growth of about 208%[25] - Revenue from liquor sales fell to zero in 2024 from RMB 2,791 thousand in 2023[25] Expenses and Costs - The cost of sales for the year was RMB 479.97 million, compared to RMB 667.38 million in 2023[4] - Selling and distribution expenses increased to RMB 21.5 million from RMB 28.3 million in 2023[4] - Administrative expenses decreased to RMB 42.2 million from RMB 39.8 million in the previous year[4] - The company recognized impairment losses of RMB 19.0 million, compared to RMB 50.4 million in 2023[4] - The cost of services provided increased to RMB 649,434,000 in 2024 from RMB 463,857,000 in 2023, marking a rise of 40%[28] - The group reported a total employee benefit expense of RMB 33,384,000 in 2024, up from RMB 28,542,000 in 2023, which is an increase of 16.4%[28] - Financial costs for 2024 amounted to RMB 9,949,000, compared to RMB 10,832,000 in 2023, representing a decrease of approximately 8.1%[26] Assets and Liabilities - Total assets decreased from RMB 432,853,000 to RMB 337,437,000, a decline of approximately 22% year-over-year[6] - Current liabilities decreased from RMB 478,751,000 to RMB 350,525,000, a reduction of about 27% year-over-year[6] - Cash and cash equivalents decreased from RMB 56,500,000 to RMB 36,688,000, a decline of approximately 35% year-over-year[6] - Trade receivables decreased from RMB 201,071,000 to RMB 88,648,000, a drop of about 56% year-over-year[6] - Non-current liabilities decreased from RMB 7,956,000 to RMB 4,701,000, a reduction of approximately 41% year-over-year[6] - Total equity decreased from RMB 80,176,000 to RMB 51,052,000, a decline of about 36% year-over-year[6] - The company reported a net current liability of RMB (13,088,000) compared to RMB (45,898,000) in the previous year, improving by approximately 71%[6] Market Outlook and Strategy - The company plans to focus on expanding its travel-related services in response to market recovery[3] - The company expects to continue facing challenges in the upcoming year, with a projected comprehensive loss of RMB 32,394,000[5] - The company has indicated that it will focus on improving operational efficiency to mitigate losses in the future[5] - The company plans to explore new market opportunities and product development to enhance revenue streams moving forward[5] - The group aims to maintain its industry-leading position by actively seeking market opportunities and optimizing strategies to enhance competitiveness[47] - The management team expresses confidence in sustainable growth, supported by extensive industry experience and a flexible operational team[47] Corporate Governance and Compliance - The company has maintained compliance with corporate governance standards as of December 31, 2024, except for a deviation regarding the roles of the Chairman and CEO[113] - The Audit Committee consists of three independent non-executive directors, ensuring oversight of financial reporting and compliance with corporate governance[116] - The independent auditor confirmed that the consolidated financial statements accurately reflect the group's financial position as of December 31, 2024[121] Shareholder Information - The company does not recommend paying dividends for the year ending December 31, 2024, consistent with the previous year[34] - The group does not recommend any final dividend for the current year, consistent with the previous year[98]
飞扬集团(01901) - 2024 - 年度业绩