Financial Performance - The group's revenue increased by approximately 6.0% from RMB 259.1 million in FY2023 to approximately RMB 274.7 million in FY2024[2] - The group's gross profit decreased by approximately 19.7% from RMB 85.4 million in FY2023 to approximately RMB 68.6 million in FY2024, with a gross margin decline of about 8.0 percentage points to approximately 25.0%[2] - The group's net profit for FY2024 was approximately RMB 0.1 million, a decrease of approximately 99.5% from RMB 22.6 million in FY2023, resulting in a net profit margin of approximately 0.0%[2] - Basic earnings per share attributable to shareholders dropped by approximately 98.4% from RMB 5.68 in FY2023 to RMB 0.09 in FY2024[2] - The group reported a significant increase in trade and other receivables, rising to RMB 513.1 million in FY2024 from RMB 449.8 million in FY2023[5] - The group did not recommend any final dividend for FY2024[2] - The group experienced a significant increase in financial costs, rising to RMB 12.1 million in FY2024 from RMB 10.5 million in FY2023[3] - The pre-tax loss for the year was RMB 1,757,000 compared to a profit of RMB 27,386,000 in 2023[22] - The company incurred financial costs of RMB 12,082,000, up from RMB 10,484,000 in the previous year[21] - The effective tax expense for the year was RMB (1,867,000), compared to RMB 4,739,000 in 2023, reflecting a significant change in tax liabilities[22] - The company reported a basic earnings per share of RMB 0.866 for 2024, compared to RMB 56.754 for 2023, based on a weighted average of 500,000,000 shares outstanding[25] - The company recorded an impairment loss of approximately RMB 24.7 million on trade receivables and contract assets in fiscal year 2024, compared to a reversal of impairment loss of RMB 1.3 million in fiscal year 2023[41] Revenue Breakdown - Revenue from integrated IT solution services was RMB 187,060,000, up 32.6% from RMB 141,094,000 in the previous year[17] - Revenue from hardware and software sales decreased slightly to RMB 73,749,000 from RMB 75,655,000, a decline of 2.5%[17] - Revenue from independent IT services dropped significantly to RMB 13,913,000, down 67.2% from RMB 42,336,000 in 2023[17] - In fiscal year 2024, the company achieved revenue of approximately RMB 274.7 million, representing a growth of about 6.0% compared to fiscal year 2023's revenue of approximately RMB 259.1 million[35] - The revenue from the integrated IT solutions service segment increased to RMB 187.1 million in fiscal year 2024, up from RMB 141.1 million in fiscal year 2023, while revenue from independent IT services decreased to RMB 13.9 million from RMB 42.3 million[35] Assets and Liabilities - As of December 31, 2024, the group's cash and cash equivalents were approximately RMB 40.5 million, down from RMB 47.8 million as of December 31, 2023[2] - The group's total assets less current liabilities decreased from RMB 369.3 million in FY2023 to RMB 320.8 million in FY2024[6] - Trade receivables from third parties increased to RMB 470,967,000 in 2024 from RMB 339,030,000 in 2023, reflecting a growth of approximately 39%[26] - The aging analysis of trade receivables showed that overdue amounts over one year increased to RMB 62,983,000 in 2024 from RMB 22,554,000 in 2023, indicating a significant rise in overdue debts[27] - Trade payables rose to RMB 75,387,000 in 2024 from RMB 43,551,000 in 2023, marking an increase of about 73%[28] - The company's total trade and other receivables amounted to RMB 513,090,000 in 2024, compared to RMB 449,799,000 in 2023, reflecting an increase of approximately 14%[26] Research and Development - The company established a cloud computing R&D center in Shenzhen in February 2024 and an AI R&D center in Beijing in July 2024, focusing on cutting-edge technologies such as large model lightweighting and AI agent interaction[33] - Research and development expenses increased by approximately RMB 0.2 million or 3.3% to about RMB 6.2 million in fiscal year 2024, reflecting the company's ongoing investment in R&D[40] Corporate Governance and Compliance - The board of directors is committed to high standards of corporate governance, which is essential for protecting shareholder interests and enhancing corporate value[53] - The company has fully complied with the corporate governance code during the fiscal year 2024, except for the arrangement of the chairman also serving as the CEO[54] - The board of directors includes executive directors and independent non-executive directors, ensuring diverse governance[65] Market Expansion and Strategy - The company is expanding its global market presence, focusing on the ASEAN market through a cooperation agreement with Vietnam's VIETNAM MADE to integrate resources in the cross-border AI cloud computing industry[51] - The company plans to enhance its technological capabilities by investing in computing networks, AI large models, and domestic information technology innovations, launching a new generation of intelligent computing integrated machines[46] Other Notable Information - The company has not made any significant investments or acquisitions in subsidiaries, associates, or joint ventures during the fiscal year 2024[47] - The majority of the company's business transactions are conducted in RMB, with some bank balances and receivables in foreign currencies, exposing the company to foreign exchange risks[48] - As of December 31, 2024, the company employed approximately 180 employees and offers competitive compensation and benefits, including discretionary bonuses based on performance[49] - There have been no significant events after the reporting period that would require adjustments to the financial statements or are material to understanding the company's current situation[62] - The annual performance announcement and annual report have been published on the Hong Kong Stock Exchange website and the company's website[64] - The company has not purchased, redeemed, or sold any of its listed securities during the fiscal year 2024[57] - The board of directors does not recommend the payment of any final dividend for the fiscal year 2024[60]
迈越科技(02501) - 2024 - 年度业绩