Financial Performance - For the fiscal year ending December 31, 2024, the total revenue reached RMB 1,356,346,670.03, an increase of approximately 2.95% compared to RMB 1,317,495,782.20 in the previous year[6]. - The loss attributable to equity owners was RMB 43,699,833.39, a significant reduction of about 92.29% from the loss of RMB 566,861,510.82 in the same period last year[6]. - The earnings per share (EPS) improved to approximately RMB 0.05, compared to a loss per share of RMB 0.71 in the previous year, reflecting an increase of about 92.96%[6]. - The total net profit for the year was RMB (44,636,618.16), a significant improvement from RMB (578,534,451.16) in the previous year[8]. - The total operating loss for 2024 was approximately $48.28 million, compared to a loss of $549.18 million in 2023, indicating a significant improvement in financial performance[25]. - The company reported a total comprehensive income of RMB (578,837,140.19) for the current period, a significant decrease compared to the previous period[3]. - The total loss attributable to equity owners for 2024 was RMB 43,699,833.39, with a basic and diluted loss per share of RMB 0.05[44]. - The company reported a net profit attributable to shareholders of RMB -43,699,833.39 for the fiscal year ending December 31, 2024[70]. Revenue and Sales - The total operating revenue for 2024 is reported at RMB 1,356,346,670.03, an increase from RMB 1,317,495,782.20 in 2023, reflecting a growth of approximately 2.9%[21]. - The revenue from pipe products reached RMB 1,230,613,168.65 in 2024, up from RMB 1,141,475,324.31 in 2023, indicating a growth of about 7.8%[21]. - The company's main products, including oil pipes and casings, accounted for nearly 90.73% of total revenue, with export sales increasing by over 25% year-on-year[45]. - The total revenue from the pipe products segment was approximately $1.23 billion, while the three-pump equipment segment generated about $34.15 million in revenue[24]. - The company reported a decrease in the revenue from oil machinery components, which fell to RMB 1,867,935.18 in 2024 from RMB 18,345,313.86 in 2023, indicating a decline of approximately 89.8%[21]. Costs and Expenses - The total operating costs decreased to RMB 1,572,301,308.13 from RMB 1,627,990,434.22, indicating a reduction in costs[7]. - The company reported a decrease in research and development expenses to RMB 29,309,446.94 from RMB 35,480,208.21, reflecting a focus on cost management[7]. - The company experienced a reduction in management expenses from RMB 228,139,393.15 to RMB 118,952,881.37, indicating improved operational efficiency[7]. - Financial expenses decreased to approximately $96.61 million in 2024 from $114.13 million in 2023, showing effective cost management[27]. - Employee costs decreased to RMB 130,228,148.44 in 2024 from RMB 193,620,108.47 in 2023, a reduction of approximately 32.7%[32]. - Research and development costs were RMB 27,102,934.69 in 2024, down from RMB 30,578,559.41 in 2023, indicating a decrease of about 11.9%[32]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 1,935,407,894.38, compared to RMB 923,407,920.06 in the previous year, indicating substantial growth in total assets[9]. - Total assets amounted to approximately $2.42 billion, with non-current assets totaling around $484.77 million[10]. - Current liabilities reached approximately $1.92 billion, with short-term borrowings at about $1.43 billion[10]. - Total liabilities were approximately $1.93 billion, while non-current liabilities accounted for about $11.38 million[11]. - Owner's equity totaled approximately $491.89 million, with retained earnings showing a deficit of around $1.47 billion[11]. - The company reported a capital reserve of approximately $979.78 million, reflecting an increase from the previous period[11]. - The total liabilities and owner's equity combined reached approximately $2.42 billion, consistent with total assets[11]. - The company's total current liabilities increased by approximately 26.4% compared to the previous period[10]. - The company's total non-current liabilities decreased by approximately 91.2% compared to the previous period[11]. - The group's total assets at the end of the reporting period were RMB 2.42 billion, a year-on-year decrease of 16.20%[48]. - The net assets attributable to shareholders of the listed company were RMB 492 million, a year-on-year increase of 16.10%[48]. Strategic Initiatives and Future Plans - The company plans to expand its market presence and enhance product offerings in the energy equipment sector, focusing on innovation and technology development[17]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[24]. - The company is actively seeking new financing to alleviate cash flow pressure, including bank loans and financing leases[54]. - The company has expanded its overseas strategy, currently operating in over 50 countries and regions, including Kazakhstan and Vietnam[55]. - The company aims to enhance market research and optimize product structure to improve competitiveness in response to market demand changes[52]. - The company plans to maintain a stable development strategy in the oil and gas industry, with expectations for oil production to remain above 200 million tons by 2025[49]. Risk Management and Compliance - The company emphasizes risk management and internal control to reduce operational risks and enhance resilience[56]. - The company is closely monitoring raw material price fluctuations to control manufacturing costs and adjust product prices accordingly[59]. - The company is committed to enhancing environmental protection investments due to stricter national safety and environmental policies[60]. - The company has adopted measures to mitigate risks associated with currency fluctuations, particularly with the RMB[61]. - The company has maintained compliance with corporate governance standards and continues to implement measures to adhere to changes in regulations[71]. Dividends and Shareholder Information - The company did not recommend the distribution of a final dividend for the fiscal year ending December 31, 2024[6]. - The board of directors does not recommend the distribution of a final dividend for the fiscal year ending December 31, 2024[69]. - The annual report for the year ending December 31, 2024, will be sent to shareholders and is available for download on the company's website and the Hong Kong Stock Exchange[79].
山东墨龙(00568) - 2024 - 年度业绩