Financial Performance - The group's revenue increased by approximately RMB 223.6 million or 23.3% to approximately RMB 1,185.0 million for the year ended December 31, 2024[3]. - Gross profit rose by approximately RMB 196.5 million or 28.2% to approximately RMB 894.2 million for the same period[3]. - EBITDA increased by approximately RMB 78.3 million or 19.1% to approximately RMB 489.1 million[3]. - Profit attributable to equity holders increased by approximately RMB 68.4 million or 27.3% to approximately RMB 318.6 million[3]. - Total comprehensive income for the year was RMB 319.4 million, compared to RMB 254.8 million in the previous year[5]. - For the fiscal year ending December 31, 2024, the company's revenue was approximately RMB 1,185.0 million, an increase of about RMB 223.6 million or 23.3% compared to RMB 961.4 million for the fiscal year ending December 31, 2023[54]. - Net profit for the year ended December 31, 2024, was approximately RMB 318.6 million, an increase of approximately RMB 68.4 million or 27.3% compared to RMB 250.2 million in 2023[67]. Assets and Liabilities - Non-current assets totaled RMB 494.99 million, an increase from RMB 481.41 million in the previous year[6]. - Current assets amounted to RMB 1,756.18 million, a decrease from RMB 1,817.63 million in the previous year[6]. - Total liabilities decreased from RMB 706.89 million to RMB 700.47 million[6]. - The company's net assets decreased from RMB 1,550.70 million to RMB 1,466.30 million[7]. - The company's total borrowings increased to approximately RMB 426.9 million as of December 31, 2024, compared to RMB 412.3 million in 2023, reflecting an increase of RMB 14.6 million[69]. - The company's debt-to-equity ratio rose from approximately 26.6% as of December 31, 2023, to approximately 29.1% as of December 31, 2024[71]. Revenue Sources - Revenue from mainland China was RMB 1,178,108 thousand in 2024, up 24.0% from RMB 951,639 thousand in 2023[14]. - Revenue from a major customer (Customer A) accounted for RMB 148,375 thousand in 2024, an increase of 15.7% from RMB 128,285 thousand in 2023[16]. - Revenue from the sales of Jin Sangzi throat lozenges (OTC) for the fiscal year ending December 31, 2024, was approximately RMB 1,095.3 million, an increase of about RMB 230.4 million or 26.6% from RMB 864.9 million for the previous year[54]. - The flagship product, Jin Sangzi throat lozenges (OTC), accounted for approximately 92.4% of total revenue in the fiscal year ending December 31, 2024[37]. Expenses and Costs - Research and development costs rose to RMB 32,418 thousand in 2024, significantly higher than RMB 17,073 thousand in 2023, marking an increase of 90.1%[20]. - Total financial costs increased to RMB 15,363 thousand in 2024, up from RMB 10,699 thousand in 2023, representing a 43.5% rise[21]. - Income tax expense for 2024 was RMB 118,647 thousand, compared to RMB 110,859 thousand in 2023, indicating a 7.0% increase[22]. - Sales and distribution expenses increased to approximately RMB 355.9 million, a rise of approximately RMB 89.5 million or 33.6% from RMB 266.4 million in 2023, primarily due to increased promotional expenses[62]. - Administrative expenses rose to approximately RMB 117.1 million, an increase of approximately RMB 22.5 million or 23.8% from RMB 94.6 million in 2023, mainly due to higher investment in R&D activities[63]. Dividends - The board proposed a final dividend of HKD 0.5 per share, subject to approval at the upcoming annual general meeting[3]. - Proposed final dividend for 2024 is RMB 342,312 thousand, down from RMB 401,982 thousand in 2023, reflecting a decrease of 14.8%[22]. - The board proposes a final dividend of HKD 0.5 per share for the year ended December 31, 2024, subject to shareholder approval[85]. Product Development and Innovation - The company aims to leverage advanced technologies in product development, including patented probiotics and innovative encapsulation techniques[40]. - The new product "Jin Sang Zi Chang Bao" has passed testing and entered the Hong Kong market in March 2024[40]. - The company has received six patents for its active probiotics used in the newly developed Jin Sangzi compound probiotic lozenges, indicating a strong commitment to R&D[49]. - The company is focusing on developing new products such as gene drugs, traditional Chinese medicine formulas, and specialty health foods to drive growth in the health industry[53]. Market Strategy and Expansion - The company has established a comprehensive national sales and distribution network, covering all provinces and regions in China by December 31, 2024[45]. - The company has expanded its international strategy, with products exported to 23 countries and regions by December 31, 2024, including new markets like India and Korea[44]. - The company has developed a strong online presence, with nearly 100 million total views on its YouTube channel and over 4.5 million video views[44]. - The company has signed promotional cooperation agreements with 11 promoters to enhance local market penetration[47]. - The company plans to enhance its core competitiveness over the next decade by focusing on health services and expanding its market share in throat lozenges and other pharmaceutical products[79]. Corporate Governance and IPO - The company has adopted a corporate governance code to ensure high standards of governance and protect shareholder interests[86]. - The net proceeds from the initial public offering (IPO) after deducting underwriting fees and related expenses amount to approximately HKD 909.6 million[80]. - As of December 31, 2024, the company has utilized approximately HKD 731.3 million, representing about 80.4% of the IPO proceeds[80]. - The board will continuously evaluate the use of the net proceeds from the IPO to adapt to changing market conditions and improve performance[82].
金嗓子(06896) - 2024 - 年度业绩