Financial Performance - For the year ending December 31, 2024, the group's operating revenue was RMB 4,435.46 million, an increase of 0.72% compared to RMB 4,403.63 million in 2023[4] - The net profit for the year 2024 was RMB 53.28 million, reflecting a growth of 3.78% from RMB 51.34 million in 2023[4] - The basic and diluted earnings per share for 2024 were RMB 0.4934, up from RMB 0.4754 in 2023[4] - Revenue from main business operations reached RMB 4,385,119,653.22 for the year ending December 31, 2024, compared to RMB 4,347,522,184.54 in 2023, reflecting a growth of approximately 0.9%[27] - Total revenue for the year was RMB 4,435,460,674.85, slightly up from RMB 4,403,633,478.08 in the previous year, indicating an increase of about 0.7%[27] - The gross profit increased by 10.94% to RMB 324.76 million for the year ending December 31, 2024, compared to RMB 292.74 million in 2023, with the gross margin rising from 6.65% to 7.32%[83] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 3,456.64 million, compared to RMB 3,247.66 million as of December 31, 2023[7] - Current assets totaled RMB 3,029.99 million as of December 31, 2024, an increase from RMB 2,811.99 million in 2023[7] - Total liabilities increased to RMB 2,837,952,734.34 as of December 31, 2024, up from RMB 2,649,849,020.30 in 2023, representing a growth of approximately 7.1%[8] - Current liabilities totaled RMB 2,788,603,021.09, an increase from RMB 2,618,858,000.99 in the previous year, marking a rise of about 6.5%[8] - Shareholders' equity totaled RMB 618,690,947.99 as of December 31, 2024, compared to RMB 597,806,856.30 in 2023, representing an increase of approximately 3.1%[8] Cash Flow and Financial Position - Cash and cash equivalents decreased to RMB 563.15 million in 2024 from RMB 634.20 million in 2023[7] - The company reported a net profit increase in retained earnings, with undistributed profits rising to RMB 200,556,936.21 from RMB 181,154,889.21, a growth of about 10.5%[8] - The group's current ratio improved to 1.09 as of December 31, 2024, compared to 1.07 as of December 31, 2023[90] - The group's capital debt ratio increased to 51.37% as of December 31, 2024, from 44.28% as of December 31, 2023[97] Expenses - The group's total operating costs for 2024 were RMB 4,358.59 million, compared to RMB 4,332.54 million in 2023[5] - Sales expenses decreased by 1.65% to RMB 120.44 million for the year ending December 31, 2024, from RMB 122.47 million in 2023[84] - Management expenses increased by 15.33% to RMB 54.82 million for the year ending December 31, 2024, primarily due to new personnel and training investments[85] - Financial expenses rose by 47.09% to RMB 62.29 million for the year ending December 31, 2024, attributed to increased bank borrowings and related interest costs[86] Accounts Receivable and Payable - The company reported a significant increase in accounts receivable, rising to RMB 1,163.24 million in 2024 from RMB 961.72 million in 2023[7] - Accounts receivable increased to RMB 1,184,455,239.82 at year-end from RMB 982,891,686.13 at the beginning of the year, with a net amount of RMB 1,163,237,552.39 after deducting bad debt provisions[40] - The company recorded a bad debt provision of RMB 21,217,687.43 for accounts receivable, slightly up from RMB 21,172,836.07 at the beginning of the year[40] - The year-end balance of accounts payable totaled RMB 387,825,713.54, down from RMB 659,073,566.35 at the beginning of the year, indicating a decrease of approximately 41%[49] Market and Industry Insights - The pharmaceutical distribution market in China is projected to grow to RMB 4 trillion by 2028, with a compound annual growth rate of 7%[53] - The retail pharmacy market is expected to reach RMB 574 billion in 2024, showing a year-on-year growth of 3.7%[55] - The online pharmaceutical market in China has reached a sales figure of over RMB 60 billion in 2023, reflecting a year-on-year growth of 28.46%[74] Strategic Initiatives - The company is leveraging new technologies such as big data and AI to enhance service capabilities and meet evolving market demands[57] - The company aims to build a comprehensive marketing ecosystem by closely collaborating with upstream and downstream partners, enhancing brand value and market effectiveness[64] - The company is committed to a digital transformation strategy, focusing on end-to-end intelligent business closed-loop construction through continuous iteration of AI models[66] - The company has established modern pharmaceutical distribution centers in Guangzhou, Shantou, Shenzhen, and Zhuhai, equipped with advanced logistics networks and information systems[69] Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules for the year ending December 31, 2024, and will continue to review its governance practices[109] - All directors and supervisors have complied with the standard code for securities transactions during the year ending December 31, 2024[110] - The audit committee, consisting of three members, has reviewed the accounting principles and policies adopted by the group for the year ending December 31, 2024[112]
创美药业(02289) - 2024 - 年度业绩