Financial Performance - Total revenue for 2024 was RMB 366.67 million, a decrease of 54.21% year-on-year[3] - Net loss attributable to shareholders for 2024 was RMB 456.43 million, compared to a net loss of RMB 243.20 million in the same period last year[3] - Basic loss per share for 2024 was RMB 1.97, compared to RMB 1.48 in the previous year[3] - The company reported a net loss of RMB 540,264,195.14 for 2024, compared to a net loss of RMB 300,077,038.04 in 2023, indicating a worsening of 80.0%[6] - Basic and diluted earnings per share for 2024 were both RMB (1.97), compared to RMB (1.48) in 2023, representing a decline of 33.1%[7] - The company has not declared any final dividends for the year ended December 31, 2024, consistent with the previous year[28] Assets and Liabilities - Cash and cash equivalents as of December 31, 2024, amounted to RMB 722.23 million, an increase from RMB 609.22 million in 2023[4] - Short-term borrowings increased to RMB 762.43 million from RMB 586.61 million in the previous year[5] - Total assets as of December 31, 2024, were RMB 4.78 billion, down from RMB 4.95 billion in 2023[4] - Total liabilities as of December 31, 2024, were RMB 1.94 billion, compared to RMB 1.54 billion in the previous year[5] - Shareholders' equity attributable to the company was RMB 2.56 billion, down from RMB 3.04 billion in 2023[5] Revenue and Costs - Total operating revenue for the year ended December 31, 2024, was RMB 366,671,355.92, a significant decrease of 54.3% compared to RMB 800,701,885.77 in 2023[6] - Total operating costs decreased to RMB 706,485,700.32 from RMB 968,656,768.22, reflecting a reduction of 27.0%[6] - The company's main business revenue for the year ending December 31, 2024, is reported at 363,670,191.00, a decrease from 799,191,040.48 in 2023, reflecting a decline of approximately 54.5%[22] - The total operating costs for the year ending December 31, 2024, amount to 320,955,128.57, down from 552,190,945.49 in 2023, indicating a reduction of about 41.9%[22] - The company's main business costs for the year ending December 31, 2024, are 319,457,850.76, down from 552,046,700.65 in 2023, indicating a significant cost reduction[22] Impairment and Other Income - The company experienced a significant increase in credit impairment losses, which rose to RMB (201,142,245.18) from RMB (99,482,634.25), reflecting a 102.0% increase[6] - Other income increased to RMB 51,772,241.34 from RMB 24,856,478.84, marking a growth of 108.2%[6] - The company reported a total impairment loss of RMB 70.17 million for the year ended December 31, 2024, compared to RMB 62.92 million in 2023[24] Research and Development - The company has ongoing investments in new technologies and product development, although specific figures were not disclosed in the report[3] - The company emphasized ongoing research and development in fuel cell technology, focusing on environmental adaptability, durability, and reliability[30] - The company is collaborating with universities and research institutions to advance hydrogen fuel cell applications, including a project in Xinjiang[30] - Research and development expenses were RMB 97,013,572.48, down 30.9% from RMB 140,907,189.33 in the previous year, indicating a focus on cost management[6] Corporate Governance and Compliance - The financial statements were prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[10] - The company is committed to high standards of corporate governance to enhance shareholder value and accountability[41] - All directors and supervisors adhered to the standard code of conduct regarding securities trading during the reporting period[42] - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the reporting period[44] Future Plans and Market Strategy - The company aims to optimize fuel cell systems and core components, improving performance in extreme weather, high temperature resistance, durability, reliability, energy conversion efficiency, safety, and cost-effectiveness[32] - The company plans to strategically expand its customer base and regional coverage to increase market share, focusing on commercial heavy-duty applications such as heavy trucks[33] - The company intends to strengthen its supply chain by deepening cooperation with well-known suppliers and pursuing vertical integration to reduce raw material costs and ensure supply chain stability[34] - The company will enhance corporate management and operational efficiency to better respond to market challenges and opportunities, optimizing resource allocation and reducing operational costs[35] - The company plans to extend integration along the industrial chain to enhance comprehensive strength and achieve sustainable development in line with national hydrogen energy policies[36] Market Outlook - By the end of 2024, the company expects the national sales volume of fuel cell vehicles to reach 5,405 units, with 163 models equipped with its fuel cell systems, leading the industry[31] - The company anticipates that by 2035, the number of fuel cell vehicles in China will exceed 1 million, indicating significant growth potential in the fuel cell industry[32] Share Capital and Offerings - The company increased its share capital by issuing 66,186,309 new shares, resulting in a total registered capital of 231,652,081 shares as of July 2024[43] - The net proceeds from the global offering amounted to approximately HKD 1,022 million after deducting underwriting fees and other expenses[45] - The company plans to gradually utilize the net proceeds from the global offering according to the purposes outlined in the prospectus dated December 29, 2022[45] Audit and Reporting - The financial data disclosed has been agreed upon with auditors, and the board's audit committee has reviewed the unaudited annual performance announcement for the year ending December 31, 2024[39] - The financial data related to the company's annual performance has not yet been audited, and stakeholders are advised to exercise caution when trading its securities[49]
亿华通(02402) - 2024 - 年度业绩