Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 99.7 million, a decrease of 84.5% compared to RMB 641.6 million in 2023[3] - The gross loss for 2024 was RMB 17.1 million, representing an improvement of 89.6% from a gross loss of RMB 164.5 million in 2023[3] - Loss attributable to equity shareholders for 2024 was RMB 113.8 million, a reduction of 76.4% from RMB 482.3 million in 2023[3] - Basic and diluted loss per share for 2024 was RMB 15.18, down 76.4% from RMB 64.30 in 2023[3] - Total comprehensive loss for the year was RMB 148.4 million, compared to RMB 610.1 million in 2023, indicating a significant reduction[5] - The company reported a pre-tax loss of RMB 20,640,000 for 2024, compared to a pre-tax loss of RMB 80,987,000 in 2023, indicating an improvement[33] - The company recorded a total of RMB 100,424,000 in loans to third parties, including accrued interest, as of December 31, 2024[49] - The company recorded a loss attributable to equity shareholders of approximately RMB 113.8 million for the fiscal year 2024, a reduction of about 76.4% compared to the previous fiscal year[55] Revenue Sources - For the year ending December 31, 2024, property sales revenue was RMB 94,374,000, a significant decrease of 85.2% compared to RMB 637,108,000 in 2023[26] - Total rental income for 2024 was RMB 5,336,000, an increase of 17.8% from RMB 4,526,000 in 2023[26] - Revenue from property sales for the fiscal year 2024 was approximately RMB 94.4 million, a decrease of about 85.2% compared to RMB 637.1 million in fiscal year 2023[63] - Rental income from investment properties and inventory for fiscal year 2024 totaled approximately RMB 5.3 million, an increase of about 17.8% from RMB 4.5 million in fiscal year 2023[64] Assets and Liabilities - Total assets decreased to RMB 1,441.2 million in 2024 from RMB 1,672.4 million in 2023[6] - Current liabilities decreased to RMB 735.6 million in 2024 from RMB 819.3 million in 2023[6] - The net asset value for 2024 was RMB 701.5 million, down from RMB 849.9 million in 2023[7] - The total specified non-current assets decreased to RMB 290,864,000 in 2024 from RMB 410,349,000 in 2023, reflecting a decline of 29.0%[30] - The company's financial liabilities measured at amortized cost were RMB 429.8 million in 2024, down from RMB 447.2 million in 2023[14] Inventory and Sales - As of December 31, 2024, the total inventory amounted to RMB 566,369,000, a decrease from RMB 660,304,000 in 2023, with completed properties for sale valued at RMB 492,524,000[43] - The cost of sold inventory for the year was RMB 116,839,000, significantly lower than RMB 806,135,000 in 2023, indicating a reduction in inventory write-downs[44] - Contract liabilities related to property sales decreased to RMB 48,539,000 from RMB 78,161,000 in 2023, reflecting a reduction in prepayments received from customers[48] Corporate Governance and Compliance - The company adhered to the corporate governance code and maintained high standards of corporate governance throughout the fiscal year 2024[96] - The audit committee, consisting of three independent non-executive directors, reviewed and approved the consolidated financial statements for the fiscal year 2024[101] - The company's auditor, KPMG, confirmed that the preliminary announcement of the consolidated financial position and results for the fiscal year 2024 matched the audited financial statements[102] Future Outlook and Strategy - The company anticipates that the real estate market will gradually stabilize and operate moderately, with a focus on high-quality development[56] - The government is expected to continue implementing policies to stabilize the real estate market, including reducing restrictive measures and promoting the acquisition of existing commercial housing[56] - The company plans to explore and develop potential investment opportunities in sustainable projects to create long-term value for shareholders and investors[56] Dividends and Shareholder Returns - The company did not declare a final dividend for the year ended December 31, 2024[3] - The group has not declared any final dividends for the fiscal year 2024, consistent with the previous year[94] Employee and Operational Costs - The total employee costs for the fiscal year 2024 were approximately RMB 18.2 million, a decrease from RMB 31 million in 2023[90] Miscellaneous - The company has no single customer contributing over 10% of total revenue for 2024, maintaining a diversified customer base[26] - The company is currently evaluating the potential impact of new accounting standards that will take effect after January 1, 2025, but does not expect significant effects on the consolidated financial statements[24] - The group has no significant events occurring after the fiscal year ending December 31, 2024[89]
万城控股(02892) - 2024 - 年度业绩