Financial Performance - For the year ended December 31, 2024, the company recorded total revenue of approximately RMB 466.0 million, a decrease of approximately RMB 95.0 million or about 16.9% compared to RMB 561.0 million for the year ended December 31, 2023[4] - The net loss for the year ended December 31, 2024, was approximately RMB 63.5 million, compared to a net loss of approximately RMB 35.4 million for the year ended December 31, 2023[4] - Basic and diluted loss per share for the year ended December 31, 2024, was approximately RMB 32.33, compared to RMB 28.90 for the year ended December 31, 2023[4] - The company reported a gross profit of RMB 57.4 million for the year ended December 31, 2024, down from RMB 69.7 million in the previous year[5] - Total revenue from customer contracts decreased to RMB 466,031,000 in 2024 from RMB 561,011,000 in 2023, representing a decline of approximately 17%[20] - Revenue from external customers in mainland China decreased to RMB 361,386,000 in 2024 from RMB 427,155,000 in 2023, representing a decline of approximately 15.4%[18] - Revenue from the IT infrastructure system integration segment was approximately RMB 434.0 million, down from RMB 504.7 million in 2023[44] - Revenue from smart office software solutions decreased by approximately RMB 24.3 million or about 43.2% to approximately RMB 32.0 million, compared to RMB 56.3 million in 2023[45] - The pre-tax loss attributable to the parent company increased to RMB 63,549,000 in 2024 from RMB 41,229,000 in 2023, reflecting a rise of about 54%[28] Cash Flow and Liquidity - Cash and cash equivalents at the end of the year were RMB 85.5 million, an increase from RMB 76.2 million at the end of the previous year[9] - The company generated net cash inflow from operating activities of RMB 7.6 million for the year ended December 31, 2024, compared to an outflow of RMB 36.9 million in the previous year[9] - The group has implemented measures to enhance liquidity and believes it will have sufficient working capital to meet its financial obligations over the next 15 months[14] - The average turnover days for trade and bills receivables increased to 230 days from 202 days in the previous year, impacting the cash conversion cycle which rose from 73 days to 100 days[62] Assets and Liabilities - Total assets less current liabilities amounted to RMB 222.1 million as of December 31, 2024, down from RMB 279.4 million in the previous year[8] - The company’s total equity was RMB 212.4 million as of December 31, 2024, compared to RMB 266.8 million in the previous year[8] - The group reported a net loss of approximately RMB 63,549,000 for the year ending December 31, 2024, with current liabilities exceeding current assets by approximately RMB 10,742,000[14] - As of December 31, 2024, the company's debt-to-capital ratio increased to approximately 33.7% from 31.2% in the previous year, mainly due to a decrease in total assets[58] - The company had interest-bearing bank and other borrowings totaling approximately RMB 201.4 million as of December 31, 2024, up from RMB 169.6 million in the previous year[58] Expenses and Costs - The cost of sold inventory decreased to RMB 406,772,000 in 2024 from RMB 488,535,000 in 2023, a reduction of about 17%[22] - Financing costs increased to RMB 13,303,000 in 2024 from RMB 10,704,000 in 2023, marking an increase of approximately 24%[21] - Sales and distribution expenses decreased by approximately RMB 1.4 million or about 5.1% to approximately RMB 26.0 million, compared to RMB 27.4 million in 2023[51] - Administrative expenses decreased by approximately RMB 0.3 million or about 0.5% to approximately RMB 62.0 million, remaining stable compared to 2023[52] - Research and development costs rose to RMB 22,465,000 in 2024 from RMB 21,963,000 in 2023, an increase of about 2.3%[22] Impairments and Fair Value Losses - The company incurred a goodwill impairment of RMB 8.5 million during the year ended December 31, 2024[5] - The fair value loss on investment properties increased to RMB 16,082,000 in 2024 from RMB 6,812,000 in 2023, indicating a significant decline in property value[22] - The company recorded a fair value loss of approximately RMB 2.9 million on equity investments, compared to RMB 3.0 million in 2023, due to market impacts from geopolitical tensions and economic fluctuations[70] Strategic Initiatives and Future Outlook - The company maintained strategic partnerships with major technology firms to expand its customer base and enhance service offerings[43] - The company is focusing on expanding its target customer base beyond multinational corporations to include domestic manufacturers[45] - The company is actively exploring potential mergers and acquisitions to strengthen its market position[82] - The company remains cautiously optimistic about business prospects, actively seeking opportunities domestically and internationally while implementing strict cost control measures[74] Corporate Governance and Reporting - The board does not recommend declaring any final dividend for the year ended December 31, 2024, similar to the previous year[75] - The company has maintained a public float of at least 25% of its issued shares as required by listing rules[81] - The annual report for the fiscal year ending December 31, 2024, will be published on the Hong Kong Stock Exchange and the company's website at the appropriate time[82] - The company is committed to adhering to all applicable information as required by listing rules[82] - The report will include all relevant data as stipulated by the listing rules[82] - The company aims to enhance transparency and provide stakeholders with timely updates on financial performance[82] - The board includes independent non-executive directors, ensuring diverse oversight[82]
威讯控股(01087) - 2024 - 年度业绩