Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 16.7 million, a decrease of about 29.5% compared to RMB 23.7 million from the previous year[4]. - The gross loss for the year was approximately RMB 22.5 million, reduced by RMB 30.9 million from a gross loss of RMB 53.4 million in the previous year[4]. - The gross margin improved to approximately (134.7)%, an increase of about 90.0 percentage points from (224.7)% in the previous year[4]. - The loss attributable to equity shareholders for the year was approximately RMB 38.6 million, an increase of about RMB 23.0 million from a loss of RMB 15.6 million in the previous year[4]. - The company reported a net loss of RMB 38,598,000 for the year ended December 31, 2024[11]. - The adjusted pre-tax loss for the reporting segment was RMB (19,736,000) in 2024, significantly improved from RMB (87,817,000) in 2023[25]. - The company reported a pre-tax loss of RMB 38,598,000 for 2024, compared to a loss of RMB 15,645,000 in 2023, indicating a significant increase in losses[35]. - The film and television business revenue decreased by approximately 29.5%, with a gross margin improvement of about 90 percentage points from (224.7%) to (134.7%) year-on-year[52]. - Other income decreased to approximately RMB 4.7 million from RMB 63.1 million, a reduction of about RMB 58.4 million[53]. - Distribution costs were approximately RMB 3.5 million, a decrease of about 22.2% from RMB 4.5 million last year[54]. - Administrative expenses were approximately RMB 9.0 million, down about 49.4% from RMB 17.8 million last year[55]. - The net financing cost increased by approximately 84.3% to RMB 16.4 million from RMB 8.9 million last year[58]. Assets and Liabilities - As of December 31, 2024, the company's total assets less current liabilities were RMB 165,064,000, down from RMB 203,937,000 in the previous year[7]. - The company's cash and cash equivalents decreased to RMB 13,347,000 from RMB 236,748,000 in the previous year[7]. - The total equity of the company was RMB 164,525,000, a decrease from RMB 203,123,000 in the previous year[8]. - The basic and diluted loss per share for the year was RMB 1.79, compared to RMB 0.73 in the previous year[6]. - The group reported a net loss of RMB 38,598,000 for the year ended December 31, 2024, indicating ongoing financial challenges[46]. - The group’s total liabilities amount to approximately RMB 89.5 million, an increase from RMB 87.1 million in 2023, with a debt ratio of 46.3% compared to 73.7% in 2023[66]. - The current tax liabilities as of December 31, 2024, are RMB 11,266,000, down from RMB 13,342,000 in 2023[43]. - The total tax liabilities excluding income tax include VAT of RMB 2,830,000, an increase from RMB 1,769,000 in 2023[41]. Cash Flow and Financing - The group has implemented several measures to address liquidity needs and improve its financial position[15]. - The group plans to regularly review its capital structure and may raise additional capital through bond issuance or new shares when appropriate[15]. - The group recorded a net loss of RMB 2,171,000 from foreign exchange in 2024, compared to a loss of RMB 2,068,000 in 2023[27]. - The total financing costs for 2024 were RMB 16,405,000, up from RMB 8,936,000 in 2023, marking an increase of approximately 83%[28]. - The group has a substantial increase in deposits and prepayments, rising to RMB 234,407,000 in 2024 from RMB 18,754,000 in 2023, a growth of over 1,150%[36]. - The group has maintained a prudent financial management approach to ensure liquidity and manage credit risk[65]. Operational Challenges - The group has faced significant operational challenges due to the prolonged impact of the COVID-19 pandemic, affecting business recovery[48]. - The group’s management has acknowledged the significant uncertainties regarding its ability to continue operations, highlighting the need for strategic adjustments[46]. - The group’s bonds amounting to RMB 35,106,000 have been overdue since February 2022, and other borrowings of RMB 54,427,000 have been overdue since November 2023, raising concerns about the group's ability to continue as a going concern[46]. - The independent auditor's report indicates a qualified opinion due to insufficient evidence regarding the appropriateness of revenue recognition in the financial statements[42]. Corporate Governance and Future Plans - The company anticipates a gradual recovery in the media industry as the Chinese government focuses on boosting domestic consumption and transitioning to a new growth model in 2024[81]. - The company is actively preparing and filming various projects, with several titles scheduled for release in 2024, including "浴火之路" which has already been released in October 2024[81]. - The company is focusing on diversifying its media business and exploring more commercial opportunities to better reward shareholders[81]. - The audit committee agrees with management's view that the action plan is effective in addressing the audit issues and will continue to monitor its implementation[92]. - The board of directors has appointed Mr. Huang Bo as an independent non-executive director effective October 16, 2024, ensuring compliance with listing rules[85]. Shareholder Information - The company did not recommend the distribution of a final dividend for the year[3]. - The company has no proposed dividends for the year ending December 31, 2024, consistent with 2023[33]. - No dividends are proposed for the year ending December 31, 2024, consistent with the previous year[95]. - The annual general meeting is scheduled for May 26, 2025, with details to be provided in a circular to shareholders in April 2025[96]. - The company's share register will be closed from May 21, 2025, to May 26, 2025, for the purpose of the annual general meeting[97].
一元宇宙(01616) - 2024 - 年度业绩