Financial Performance - Revenue for the year ended December 31, 2024, was RMB 1,394,084, an increase of 18.3% from RMB 1,178,414 for the year ended December 31, 2023[2] - Operating profit for the year was RMB 305,045, representing a growth of 20% compared to RMB 254,265 in the previous year[3] - Net profit attributable to equity shareholders was RMB 122,611, up 34.5% from RMB 91,167 in the prior year[3] - Basic and diluted earnings per share increased to RMB 0.11 from RMB 0.08, reflecting a 37.5% rise[3] - The company’s total comprehensive income for the year was RMB 106,529, compared to RMB 82,092 in the previous year, reflecting a growth of 29.8%[5] - The adjusted EBITDA for the group was RMB 595,472,000 in 2024, compared to RMB 544,807,000 in 2023, indicating an increase of 9.3%[27] - The profit attributable to equity shareholders was approximately RMB 122.6 million, representing a growth of about 34.5% from RMB 91.2 million in 2023[61] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 5,222,749, compared to RMB 4,934,102 as of December 31, 2023, indicating a growth of 5.9%[3] - Total assets increased to RMB 4,469,290 thousand in 2024 from RMB 4,111,352 thousand in 2023, representing a growth of approximately 8.7%[7] - Current liabilities decreased to RMB 1,517,925 thousand in 2024 from RMB 1,760,055 thousand in 2023, reflecting a reduction of approximately 13.8%[8] - Total liabilities increased to RMB 2,329,733 thousand in 2024 from RMB 1,931,472 thousand in 2023, indicating a growth of approximately 20.6%[8] - The company's total non-current liabilities rose to RMB 2,210,861 thousand in 2024 from RMB 1,811,757 thousand in 2023, reflecting an increase of about 22.0%[8] - As of December 31, 2024, the group's net current liabilities were approximately RMB 764.5 million, down from RMB 937.3 million as of December 31, 2023[98] Cash Flow and Dividends - The company declared a final dividend of HKD 0.15 per share, equivalent to approximately RMB 0.139, compared to HKD 0.10 per share in the previous year[2] - The company declared a dividend of RMB 6,000,000 for the year ended December 31, 2024, compared to RMB 900,000 in 2023, indicating a significant increase[39] - The total expected revenue from existing contracts as of December 31, 2024, is RMB 974,843,000, down from RMB 1,016,216,000 in 2023, representing a decrease of approximately 4.1%[28] Revenue Breakdown - Revenue from external customers in the leasing and facility usage segment was RMB 461,837,000 in 2024, compared to RMB 440,914,000 in 2023, reflecting a growth of 4.5%[26] - The wastewater treatment and public utility segment generated RMB 525,480,000 in revenue for 2024, an increase from RMB 443,290,000 in 2023, marking a rise of 18.6%[26] - The sales of goods and bundled services segment saw revenue increase to RMB 406,767,000 in 2024 from RMB 294,210,000 in 2023, which is a significant growth of 38.2%[26] - The group’s reportable segments include leasing and facility usage, wastewater treatment and public utilities, and sales of goods and bundled services[23] Expenses and Costs - Operating costs rose by approximately RMB 175.1 million or 18.6% to about RMB 1,116.1 million, reflecting higher expenses across various categories[83] - Employee costs increased by 20.8% to approximately RMB 168.6 million, driven by the need to hire more employees for business development[86] - The cost of goods sold for the year ended December 31, 2024, was RMB 343,242,000, compared to RMB 242,590,000 in 2023, indicating an increase of about 41.6%[38] - Other expenses rose by approximately RMB 30.1 million or 22.1% to about RMB 166.5 million, attributed to increased professional consulting fees and advertising expenses[90] Financial Position and Ratios - The asset-liability ratio was approximately 223.7% as of December 31, 2024, slightly up from 221.4% in 2023[100] - The adjusted net debt-to-equity ratio increased to 2.05 in 2024 from 1.96 in 2023[102] - The total interest-bearing loans amounted to RMB 3,075.7 million as of December 31, 2024, compared to RMB 2,750.7 million in the previous year[99] Operational Highlights - The group operates five strategically located industrial parks in Guangdong, Tianjin, Hubei, Sichuan, and Jiangsu, benefiting from convenient transportation networks[62] - The total rental area of the five surface treatment circular economy industrial parks was approximately 1,182,000 square meters as of December 31, 2024, compared to 1,178,000 square meters in 2023[63] - The overall rental rate for the industrial parks was 84.1% in 2024, up from 82.3% in 2023[63] - The group utilized 4,206,000 tons of fresh water in 2024, compared to 3,521,000 tons in 2023[65] Research and Development - The group holds 173 registered patents and has 63 patents currently under application as of December 31, 2024, indicating a strong focus on R&D[69] - The company’s research and development expenses for the year ended December 31, 2024, were RMB 14,458,000, compared to RMB 13,918,000 in 2023, marking an increase of about 3.9%[38] Corporate Governance - The company has adhered to the corporate governance code applicable for the year[117] - All directors confirmed compliance with the trading standards under the listing rules for the fiscal year[118] - The new auditor, Hong Kong Lixin Dehao CPA Limited, will take over from BDO Limited effective November 20, 2024[121]
金茂源环保(06805) - 2024 - 年度业绩