Financial Performance - The group's revenue decreased from approximately RMB 55,110,000 for the year ended December 31, 2023, to approximately RMB 34,780,000 for the year ended December 31, 2024, representing a decline of about 36.90%[10]. - The company reported a net profit of CNY 34,432,000 for the year, compared to a net loss of CNY 26,736,000 in 2023, indicating a turnaround in profitability[11]. - Gross profit for the year was CNY 1,107,000, a significant improvement from a gross loss of CNY 6,186,000 in the previous year[11]. - Total comprehensive income for the year was CNY 94,610,000, slightly up from CNY 93,719,000 in the previous year[11]. - Basic earnings per share improved to CNY 3.24, compared to a loss of CNY 2.51 per share in the previous year[11]. - The company reported a profit of approximately RMB 34,430,000 for the period, compared to a loss of approximately RMB 26,740,000 in 2023, mainly due to a turnaround from a gross loss to gross profit[49]. Dividend and Shareholder Information - The board does not recommend the payment of a final dividend for the year ended December 31, 2024[10]. - No dividends were declared or proposed for the year ending December 31, 2024, consistent with the previous year[31]. - Shareholders and potential investors are advised to exercise caution when trading the company's securities[82]. Audit and Compliance - The publication of the audited annual results for the year ending December 31, 2024, has been delayed due to unresolved matters with the auditor[3]. - The company is currently in discussions with the auditor to expedite the publication of the annual results[4]. - The company anticipates that it will not be able to publish the annual results by the deadline set by the GEM listing rules[5]. - The company has established a compliance committee to enhance governance and oversight of compliance matters[75]. - The company has formed an audit committee to review and monitor financial reporting procedures and internal controls[71]. - The unaudited annual performance for the year ending December 31, 2024, is pending further review by the auditors[72]. Revenue Breakdown - Revenue from woven fabric manufacturing and sales was RMB 32,437,000 in 2024, down from RMB 52,660,000 in 2023, a decline of about 38%[25]. - Revenue from packaging services was RMB 2,338,000 in 2024, slightly decreased from RMB 2,447,000 in 2023, a reduction of approximately 4.5%[25]. - The total revenue from external customers in China was RMB 31,078,000 in 2024, down from RMB 43,814,000 in 2023, a decrease of about 29%[27]. - The total revenue from Europe was RMB 1,291,000 in 2024, significantly down from RMB 7,185,000 in 2023, a decline of approximately 82%[27]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 413,956,000, while total assets for 2023 were RMB 272,510,000, indicating a significant increase of approximately 52%[12]. - The company's total liabilities increased from RMB 176,636,000 in 2023 to RMB 197,530,000 in 2024, marking an increase of about 11.8%[12]. - The net assets of the company as of December 31, 2024, were RMB 195,758,000, compared to RMB 101,148,000 in 2023, showing a growth of approximately 93.5%[12]. - The company’s total current liabilities were RMB 276,972,000 in 2024, compared to RMB 183,303,000 in 2023, reflecting an increase of approximately 51%[12]. Operational Developments - The company plans to focus on market expansion and new product development in the upcoming year[11]. - The company is exploring potential mergers and acquisitions to enhance market presence and product offerings[11]. - The company actively participated in various trade fairs in China to enhance market visibility and promote new products[59]. Legal and Investigative Matters - The company is still processing the independent legal investigation as mentioned in the announcement dated March 19, 2025[3]. - The company is working to obtain supporting documentation regarding the recoverability of outstanding amounts from Zhejiang Yongli Industrial Group Co., Ltd.[3]. Financial Reporting Standards - The group has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on financial performance or disclosures[15][19]. - New and revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective are not expected to have a significant impact on the group's financial performance[19][20]. Employee and Operational Costs - Total employee costs increased from RMB 14,788,000 in 2022 to RMB 20,828,000 in 2023, reflecting a rise in salaries and benefits[29]. - Administrative expenses rose to CNY 15,219,000 from CNY 14,816,000, reflecting increased operational costs[11]. Trading and Market Activity - Trading of the company's shares has been suspended since February 21, 2025, until compliance with resumption guidance is achieved[81]. - The company has maintained the public shareholding level as required by GEM listing rules[77].
浙江永安(08211) - 2024 - 年度业绩