Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 355,675,000, an increase of 48% compared to RMB 240,327,000 for the previous year[2]. - The gross profit for the same period was RMB 87,038,000, representing a gross margin of approximately 24.4%, up from RMB 46,591,000 in the previous year[2]. - The company incurred a net loss of RMB 75,395,000 for the year, compared to a net loss of RMB 18,612,000 in the prior year, indicating a significant increase in losses[3]. - The company reported a basic and diluted loss per share of RMB 3.99, compared to RMB 1.68 in the previous year, indicating a worsening of financial performance[3]. - The company reported a total of RMB 8,369 thousand in goodwill for 2024, compared to no goodwill reported in 2023[4]. - The company reported a pre-tax loss of RMB 66,884,000 for the year ended December 31, 2024, compared to a loss of RMB 23,932,000 in 2023, indicating a significant increase in losses[33]. - The company reported a net loss of RMB 18,612,000 for the year, compared to a loss of RMB 14,854,000 in 2023[24]. Revenue Breakdown - Total revenue from external customers reached RMB 240,327 thousand, with contributions from various segments: RMB 32,186 thousand from wigs, RMB 174,206 thousand from personal care, and RMB 33,935 thousand from home cleaning products[18]. - Total revenue for the year ended December 31, 2024, was RMB 240,327,000, a decrease of 32.4% from RMB 355,675,000 in 2023[26]. - Revenue from wigs was RMB 32,186,000, down 23.5% from RMB 42,096,000 in 2023[26]. - Revenue from apparel and other products was RMB 174,206,000, a decline of 24.1% from RMB 229,555,000 in 2023[26]. - Revenue from clothing cleaning, personal care, and home cleaning products was RMB 33,935,000, down 59.6% from RMB 84,024,000 in 2023[26]. - CMS business revenue was RMB 153.1 million, accounting for 63.7% of total revenue, while OBM business revenue was RMB 87.2 million, accounting for 36.3%[56]. - Revenue from CMS business decreased from approximately RMB 208.6 million in 2023 to about RMB 153.1 million in 2024, representing a decline of approximately 26.6%[60]. - Revenue from OBM business fell from approximately RMB 147.0 million in 2023 to about RMB 87.2 million in 2024, a decrease of approximately 40.7%[61]. Expenses and Costs - Operating expenses increased to RMB 86,873,000 from RMB 93,767,000, reflecting a decrease in administrative and operational costs[2]. - The company reported a significant increase in sales costs to RMB 268,637,000 from RMB 193,736,000, which may impact future profitability[2]. - Research and development costs increased to RMB 31,396,000 in 2024 from RMB 26,481,000 in 2023, reflecting a focus on innovation[30]. - Sales expenses increased from approximately RMB 7.7 million in 2023 to about RMB 15.5 million in 2024, mainly due to increased advertising expenses for cleaning products[67]. - The company’s employee costs decreased to RMB 66,322,000 in 2024 from RMB 86,595,000 in 2023, reflecting cost-cutting measures[30]. Assets and Liabilities - Non-current assets increased from RMB 217,548 thousand in 2023 to RMB 319,175 thousand in 2024, representing a growth of approximately 46.7%[4]. - Current liabilities rose from RMB 368,958 thousand in 2023 to RMB 411,646 thousand in 2024, an increase of about 11.5%[5]. - Total equity decreased from RMB 411,080 thousand in 2023 to RMB 363,690 thousand in 2024, reflecting a decline of approximately 11.5%[5]. - The net value of current assets improved from RMB 92,471 thousand in 2023 to RMB 151,410 thousand in 2024, indicating a significant increase of approximately 63.7%[4]. - The total assets reported were RMB 452,483,000, with total liabilities at RMB 41,403,000[22]. Impairments and Provisions - The expected credit loss provision for trade receivables was RMB 3,273,000, an increase from RMB 1,129,000, reflecting a higher risk of default[2]. - The expected credit loss provision for trade receivables increased from RMB 4.9 million in 2023 to RMB 6.0 million in 2024[50]. - Impairment loss on properties, plants, and equipment was approximately RMB 11.3 million due to a decrease in recoverable amounts resulting from a decline in revenue[70]. - Goodwill impairment loss related to the cash-generating unit for laundry, personal care, and home care products was approximately RMB 8.4 million, attributed to a significant drop in revenue and subsequent losses[72]. Strategic Initiatives - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed[2]. - The company is actively seeking to enhance brand awareness and improve sales strategies in response to market competition and challenges[62]. - The company has established an industrial park and service center to improve production efficiency and encourage collaboration among industry players[57]. - The company plans to relocate its production lines from Yiwu to Yichun to improve production efficiency and reduce costs due to rising production costs in Yiwu[58]. Compliance and Governance - The company has fully complied with the corporate governance code as of December 31, 2024[96]. - The audit committee, established on August 7, 2015, consists of three independent non-executive directors and is responsible for reviewing the financial reporting process and internal controls[99]. - The preliminary financial results for the year ending December 31, 2024, have been agreed upon with the external auditor, but no assurance has been provided on the preliminary announcement[100].
中国派对文化(01532) - 2024 - 年度业绩