Financial Performance - For the year ending December 31, 2024, the revenue was approximately RMB 278.2 million, an increase from RMB 256.0 million for the year ending December 31, 2023, representing a growth of 8.5%[3] - The profit attributable to equity holders for the year ending December 31, 2024, was approximately RMB 20.1 million, slightly down from RMB 20.4 million for the year ending December 31, 2023, indicating a decrease of 1.5%[3] - Basic earnings per share for the year ending December 31, 2024, were approximately RMB 4.1 cents, compared to RMB 5.4 cents for the year ending December 31, 2023, reflecting a decline of 24.1%[3] - The company reported a net operating profit of RMB 20.9 million for the year ending December 31, 2024, down from RMB 24.0 million in the previous year, a decrease of 12.5%[5] - The total comprehensive income attributable to equity holders for the year ending December 31, 2024, was RMB 20.1 million, slightly lower than RMB 20.4 million for the year ending December 31, 2023, a decrease of 1.5%[6] - The net profit for the year ended December 31, 2024, was RMB 20,140,000, compared to RMB 20,397,000 for 2023, representing a decrease of approximately 1.3%[33] - The weighted average number of ordinary shares issued increased from 375,000,000 in 2023 to 496,243,000 in 2024, resulting in a basic earnings per share decrease from RMB 5.4 to RMB 4.1[33] - Adjusted basic earnings per share for 2024 was RMB 2.0, down from RMB 2.7 in 2023, reflecting the impact of share split adjustments[33] Revenue Breakdown - Total revenue for the year ended December 31, 2024, was RMB 278,223 thousand, an increase of 8.7% from RMB 255,959 thousand in 2023[19] - Revenue from wireless telecom network optimization services decreased to RMB 76,538 thousand, down 19.4% from RMB 94,923 thousand in 2023[19] - Revenue from ICT integration services increased significantly to RMB 144,452 thousand, up 55% from RMB 93,279 thousand in 2023[19] - Revenue from telecom network infrastructure maintenance and engineering services decreased by approximately RMB 14.5 million or 33.1% to approximately RMB 29.3 million for the year ended December 31, 2024, primarily due to the loss of a customer[67] - Revenue from software-related business increased by approximately RMB 3.9 million or 16.3% to approximately RMB 27.9 million for the year ended December 31, 2024, due to an increase in the number of customer software development projects[69] Assets and Liabilities - Total assets less current liabilities increased to RMB 201.4 million as of December 31, 2024, compared to RMB 89.2 million as of December 31, 2023, showing a significant growth of 125.5%[7] - The company’s cash and cash equivalents increased significantly to RMB 104.98 million as of December 31, 2024, compared to RMB 23.81 million as of December 31, 2023, representing a growth of 340.5%[7] - Non-current assets totaled RMB 25.7 million as of December 31, 2024, compared to RMB 4.6 million as of December 31, 2023, indicating an increase of 457.6%[7] - The company’s equity increased to RMB 200.4 million as of December 31, 2024, from RMB 85.2 million as of December 31, 2023, reflecting a growth of 135.5%[8] - Total interest-bearing bank borrowings increased from RMB 28,000,000 in 2023 to RMB 41,776,000 in 2024, with a decrease in the average interest rate from 3.7% to 2.9%[41] - The debt-to-equity ratio decreased to 20.8% as of December 31, 2024, from 32.9% as of December 31, 2023[90] Expenses and Costs - The company incurred listing expenses of RMB 6,257 thousand in 2024, a decrease from RMB 14,008 thousand in 2023[26] - Employee benefits expenses rose by RMB 2.3 million or approximately 13.5% from about RMB 17.1 million for the year ended December 31, 2023, to about RMB 19.4 million for the year ended December 31, 2024, mainly due to an increase in average employee numbers[72] - Subcontracting costs increased by approximately RMB 33.1 million or about 21.5% from approximately RMB 153.8 million for the year ended December 31, 2023, to RMB 186.6 million for the year ended December 31, 2024, attributed to labor costs and employee risks[73] - Depreciation and amortization expenses increased by approximately RMB 1 million or about 47.6% from approximately RMB 2.1 million for the year ended December 31, 2023, to RMB 3.1 million for the year ended December 31, 2024, due to increases in property, plant, equipment, and intangible assets[75] Corporate Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[103] - The company has complied with the corporate governance code, with the exception of the roles of chairman and CEO being held by the same individual[101] - The company has adopted a share option scheme effective from December 15, 2023, with 50 million options available for grant as of both the listing date and December 31, 2024[105] - The company confirms it has maintained sufficient public float in accordance with listing rules during the reporting period and up to the date of this announcement[107] - The company has adopted the standard code of conduct for securities trading by directors as per Appendix C3 of the listing rules, and directors have complied with these standards for the fiscal year ending December 31, 2024[108] Future Plans and Market Outlook - The company plans to implement a share split effective March 31, 2025, which will adjust the weighted average number of shares for the years ended December 31, 2024, and 2023[33] - The company plans to continue optimizing and enhancing ICT integration services and software development, while exploring opportunities in digital transformation[62] - The company aims to maintain and develop relationships with suppliers, subcontractors, and customers despite a complex market environment in 2024[61] - The Chinese telecom industry has experienced significant growth, driven by a large population, expanding middle class, and increasing demand for telecom services[61] - The ICT industry in China is at a critical stage of digital transformation, with technologies like 5G and AI providing unprecedented development opportunities[62]
经纬天地(02477) - 2024 - 年度业绩