Financial Performance - Revenue for the year ended December 31, 2024, was RMB 225,811,000, a decrease of 28.2% compared to RMB 314,428,000 in 2023[2] - Operating loss increased to RMB 89,020,000, up 6.8% from RMB 83,387,000 in the previous year[4] - Loss attributable to equity holders of the company rose by 62.7% to RMB 573,947,000 from RMB 352,867,000 in 2023[2] - Basic and diluted loss per share increased by 44.0% to RMB 12.92 from RMB 8.97 in the previous year[4] - The company reported a net loss of RMB 573,947,000 for the year, with a significant portion attributed to impairment losses on investments[21] - The group reported a net annual loss of RMB 574 million in 2024, compared to a loss of RMB 353 million in 2023[65] Revenue Breakdown - Total revenue for the water business segment reached RMB 87,522,000, while the beer business segment generated RMB 137,331,000, leading to a combined total revenue of RMB 225,811,000[21] - Revenue from external customers for the year ended December 31, 2024, was RMB 225,811,000, a decrease of 28.1% from RMB 314,428,000 in 2023[27] - Sales of seafood products increased to RMB 81,561,000 in 2024 from RMB 79,935,000 in 2023, while beer product sales decreased significantly to RMB 136,999,000 from RMB 222,682,000[27] - The total sales from the water business segment for the year ended December 31, 2024, were approximately RMB 22,766,000, up from RMB 18,086,000 in 2023[26] - Revenue from the beer segment decreased by 38.5%, from RMB 223 million to RMB 137 million[56] Assets and Liabilities - Total assets decreased to RMB 3,507,498,000 from RMB 3,985,556,000 in 2023[2] - Equity attributable to equity holders of the company decreased to RMB 2,379,960,000 from RMB 2,855,761,000[2] - Total current liabilities increased slightly to RMB 1,082,550,000 from RMB 1,060,727,000 in the previous year[6] - Non-current liabilities decreased significantly to RMB 44,988 thousand in 2024 from RMB 69,068 thousand in 2023, a reduction of 34.8%[7] - The carrying amount of investments accounted for using the equity method decreased to RMB 741,527,000 as of December 31, 2024, from RMB 1,215,508,000 in 2023[35] Cash Flow and Financial Position - Cash and cash equivalents increased significantly to RMB 121,767,000 from RMB 21,758,000 in the previous year[6] - The expected credit loss provision for financial assets was RMB 47,726,000, indicating a focus on managing credit risk[21] - The expected credit loss provision for accounts receivable increased from RMB 83,422,000 in 2023 to RMB 87,475,000 in 2024, reflecting a rise of about 5.1%[36] - The expected credit loss provision for loans receivable decreased from RMB 1,357,000 in 2023 to RMB 41,000 in 2024, a significant drop of approximately 96.9%[38] Operational Highlights - The company operates in the production and sale of aquatic products and beer products in China, and provides lending services in Hong Kong[8] - The company is actively engaged in research and development of new products and technologies to enhance its competitive position in the market[21] - The company aims to enhance customer experience and optimize channel expansion in the Tibetan water resource and beer industries[50] - The group aims to enhance product exposure and brand recognition by developing distributors across 33 provinces and municipalities in China, focusing on the Tibetan market[84] Corporate Governance - The external auditor, Guowei CPA, has been reappointed to audit the financial statements for the year ending December 31, 2024[89] - The audit committee has reviewed the annual performance for the year ending December 31, 2024[92] - The company and its subsidiaries did not purchase, sell, or redeem any of its shares during the year ending December 31, 2024[93] Future Outlook - The company plans to continue expanding its market presence in China and Hong Kong, where all external customer revenues are generated[24] - The company will continue to optimize production processes and control costs to provide high-quality mineral water products at better value[85] - The company is committed to integrating ESG principles into its business operations to achieve high-quality development goals[87]
西藏水资源(01115) - 2024 - 年度业绩