Financial Performance - For the year ending December 31, 2024, the group's revenue from continuing operations was RMB 484.3 million, a decrease of 10.8% compared to RMB 542.9 million in 2023[3]. - The gross profit from continuing operations for 2024 was RMB 325.8 million, down 5.9% from RMB 346.2 million in 2023, with a gross profit margin of 67.3%, an increase of 3.5 percentage points from 63.8% in 2023[3]. - Operating expenses for continuing operations totaled RMB 318.2 million in 2024, a significant decrease of 37.4% from RMB 508.7 million in 2023[3]. - The total comprehensive income for 2024 was RMB 16.8 million, a turnaround from a comprehensive loss of RMB 358.6 million in 2023[4]. - Basic and diluted earnings per share attributable to the company's owners for 2024 were RMB 0.12, compared to a loss of RMB 2.45 per share in 2023[4]. - The operating profit for 2024 was RMB 21.6 million, a significant improvement from an operating loss of RMB 150.3 million in 2023[6]. - The company recorded a net profit from continuing operations of RMB 14.8 million in 2024, compared to a loss of RMB 159.1 million in 2023[6]. - The company achieved a net profit attributable to owners of RMB 16.8 million in 2024, compared to a loss of RMB 300.4 million in 2023[8]. - The total comprehensive income for the group was RMB 16.8 million in 2024, compared to a total comprehensive loss of RMB 358.6 million in 2023[64]. Revenue and Segment Performance - Revenue from the tea products segment decreased from RMB 371,119 thousand in 2023 to RMB 326,183 thousand in 2024, a decline of approximately 12.1%[22]. - Revenue from the weight loss and other pharmaceuticals segment decreased from RMB 171,757 thousand in 2023 to RMB 158,118 thousand in 2024, a decline of about 7.9%[22]. - Total revenue for the year ended December 31, 2024, was RMB 484,301,000, a decrease from RMB 542,876,000 in 2023, representing a decline of approximately 10.8%[24]. - The revenue from the core health tea products in 2024 was RMB 256.6 million, down 11.3% from RMB 289.4 million in 2023, primarily due to strategic adjustments and a reduction in settlement prices[124]. Assets and Liabilities - Total assets decreased from RMB 704,943 thousand in 2023 to RMB 560,693 thousand in 2024, a decline of approximately 20.4%[9]. - Non-current assets increased from RMB 277,073 thousand in 2023 to RMB 325,331 thousand in 2024, an increase of about 17.4%[9]. - Cash and cash equivalents decreased from RMB 169,082 thousand in 2023 to RMB 134,155 thousand in 2024, a decrease of approximately 20.6%[9]. - Trade receivables decreased significantly from RMB 48,195 thousand in 2023 to RMB 20,592 thousand in 2024, a decline of about 57.3%[9]. - The total liabilities decreased from RMB 150,973 thousand in 2023 to RMB 85,317 thousand in 2024, a decline of about 43.4%[10]. - The debt-to-asset ratio as of December 31, 2024, was 15.2%, down from 21.4% in 2023[152]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.10 per share, totaling approximately HKD 12,227,000, subject to shareholder approval[5]. - The company declared an interim dividend of HKD 0.9 per share, totaling approximately RMB 99,624,000[53]. - The proposed final dividend for the year ending December 31, 2024, is HKD 0.10 per share, totaling approximately HKD 12,227,000, subject to shareholder approval[158]. Operational Efficiency and Cost Management - The company has streamlined personnel in headquarters and production departments to improve efficiency and reduce costs[65]. - The total administrative expenses for the year ended December 31, 2024, were RMB 89,512,000, compared to RMB 153,050,000 in 2023, reflecting a decrease of approximately 41.5%[24]. - Sales and marketing expenses for 2024 were RMB 199.4 million, a significant decrease of 37.8% from RMB 320.7 million in 2023[128]. - The employee costs for the year ending December 31, 2024, were RMB 56.9 million, a decrease of 73% from RMB 210.9 million in 2023[157]. Research and Development - Research and development costs for the year ended December 31, 2024, totaled RMB 29,359,000, compared to RMB 34,922,000 in 2023, indicating a reduction of approximately 16.1%[24]. - The company plans to continue enhancing product development and innovation, focusing on new products and channels by 2025[121]. - The company aims to increase R&D investment to drive product innovation and improve consumer experience, particularly in online shopping and after-sales service[66]. Market Strategy and Future Outlook - The company plans to explore new e-commerce models such as O2O, B2C, live streaming, and short video commerce to adapt to changing consumer purchasing scenarios[66]. - By 2025, the company expects the consumer health product market in China to reach $62.401 billion, maintaining a growth rate of over 6%[72]. - The company aims to focus on health consumer needs, particularly in weight management and gastrointestinal health, while expanding its product categories[115]. - The company will actively adapt to market changes and promote brand youthfulness through multi-channel strategies, including social media and content marketing[66]. Corporate Social Responsibility - The company has donated over 3.5 million RMB to environmental protection initiatives, enhancing public awareness of wildlife conservation[110]. - The company participates in poverty alleviation activities, supporting local agricultural development in various regions[113]. - The company emphasizes low-carbon economy practices, including process improvements and reducing emissions in production[114].
碧生源(00926) - 2024 - 年度业绩