Financial Performance - Total revenue for the year ended December 31, 2024, reached approximately RMB 213.8 million, a year-on-year increase of 130.7% from RMB 92.6 million in 2023[4] - Gross profit for the same period was approximately RMB 50.5 million, up 50.2% from RMB 33.6 million in 2023, although the overall gross margin decreased from 36.3% to 23.6%[5] - Net profit attributable to equity shareholders was approximately RMB 9.9 million, reflecting a 10.9% increase compared to RMB 8.9 million in 2023[4] - Revenue for the year ended December 31, 2024, increased to RMB 213,763,000, a 130% increase from RMB 92,645,000 in 2023[20] - Gross profit for 2024 was RMB 50,536,000, up 50% from RMB 33,642,000 in 2023[20] - Net profit for the year was RMB 9,939,000, representing an 8% increase compared to RMB 9,194,000 in 2023[21] - The company reported a pre-tax profit of RMB 9,890,000 for the year 2024, up from RMB 8,921,000 in 2023[43] Revenue Breakdown - Sales revenue from Japan outbound travel tours increased by approximately 82.2% to about RMB 23.5 million, driven by enhanced overseas market focus and expanded sales channels[6] - Revenue from local tours in Japan surged approximately 255.2% to about RMB 146.7 million, benefiting from a diversified product offering and improved customer experience[6] - Revenue from Japan travel group sales increased by approximately 82.2% to about RMB 235.23 million, reflecting the company's ongoing overseas expansion through partnerships with international travel agencies[14] - Revenue from local tours in Japan surged by approximately 255.2% to about RMB 1.46668 billion, attributed to enhanced transportation capacity and diversified product offerings[14] - Revenue from tour sales and local travel amounted to RMB 184,150,000 in 2024, compared to RMB 59,203,000 in 2023, indicating a growth of 211%[34] Expenses and Costs - Sales and distribution costs increased to RMB 90 million from RMB 34 million, reflecting higher salaries and commissions paid to the sales team[18] - Administrative expenses rose to RMB 69 million from RMB 44 million, driven by increased depreciation and employee-related costs[19] Assets and Liabilities - Total assets less current liabilities amounted to RMB 175,229,000, compared to RMB 172,252,000 in 2023[23] - Current assets increased to RMB 91,577,000, a significant rise from RMB 72,833,000 in 2023[22] - Current liabilities increased to RMB 62,852,000, up from RMB 51,494,000 in 2023[23] - Non-current liabilities decreased to RMB 32,650,000 from RMB 37,201,000 in 2023[23] - The company’s total liabilities for the year 2024 were RMB 161,249,000, compared to RMB 54,850,000 in 2023, reflecting an increase of 194%[41] Operational Insights - The company plans to continue hotel renovations and expand its bus fleet to accommodate larger groups, aiming to attract high-end travelers and enhance customer experience[8] - The company continues to focus on expanding its travel and tourism services, including outbound travel tours and visa application services[24] - The company maintained a diversified travel offering and implemented hedging tools to mitigate economic impacts[12] Risk Management - The company emphasizes risk management and internal controls to ensure operational efficiency and financial transparency, with regular audits and compliance training for staff[9] - The company faces foreign exchange risks due to costs incurred in foreign currencies, particularly Japanese Yen, but currently has no plans to hedge these risks[55] - The company’s interest rate risk is primarily associated with its interest-bearing bank loans, with a policy to mainly use fixed-rate debt[56] - The group faces significant risks including economic downturns in China, currency fluctuations, and increased competition in the travel industry[73] Shareholder Information - The board of directors has recommended not to declare any dividends for the year, consistent with the previous year[45] - The board recommended not to declare a dividend for the year ending December 31, 2024, consistent with the previous year[60] - The company expressed gratitude to shareholders, banks, customers, and suppliers for their support and trust during the year[11] Future Outlook - The company is optimistic about maintaining growth momentum in 2025, focusing on digital marketing and exploring niche travel themes[8] - The company has no plans for significant acquisitions or disposals as of December 31, 2024, indicating a focus on internal growth strategies[52] Employee and Governance - The company employed a total of 144 full-time employees as of December 31, 2024, maintaining a stable workforce[57] - The board of directors includes four executive directors and three independent non-executive directors[79] Meeting and Reporting - The annual general meeting for the year 2024 will be held on May 26, 2025[75] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[77] - The annual report for the year ending December 31, 2024, will be sent to shareholders and published at an appropriate time[77]
途屹控股(01701) - 2024 - 年度业绩