Financial Performance - Total retail sales (including leased merchants) reached RMB 8,328.5 million[2] - Total revenue from sales and leasing income amounted to RMB 7,398.1 million[2] - The company recorded a pre-tax profit of RMB 158.4 million, with a net loss of RMB 99.9 million for the year[2] - Basic loss per share for the year was RMB 1.89, and the board recommended no final dividend for the year ended December 31, 2024[2] - Total revenue for the year was RMB 4,018.4 million, a decrease of 3.9% from RMB 4,180.8 million in 2023[3] - Operating profit decreased to RMB 897.3 million from RMB 1,212.9 million, reflecting a decline of 26%[3] - The company reported a comprehensive loss of RMB 394.8 million for the year, compared to a loss of RMB 247.4 million in 2023[5] - The company’s equity attributable to ordinary shareholders decreased to RMB 12,930.3 million from RMB 13,361.1 million[8] - Total sales and rental income for the year ended December 31, 2024, was RMB 7,398.1 million, a decrease of 14.2% compared to RMB 8,622.9 million in 2023[71] - The main business revenue for the year was RMB 4,018.4 million, down from RMB 4,180.8 million in 2023, a decrease of approximately RMB 162.4 million[72] Assets and Liabilities - Total assets decreased to RMB 46,462.5 million from RMB 48,950.1 million, a reduction of 5.1%[6] - Total liabilities decreased significantly to RMB 24,228.0 million from RMB 33,120.9 million, a decline of 26.8%[8] - As of December 31, 2024, the group's current liabilities net amount is approximately RMB 3,108,433,000, with current bank and other borrowings due within the next 12 months amounting to RMB 4,422,287,000[11] - The company reported a basic loss per share attributable to ordinary shareholders of RMB 97,178,000 for the year ended December 31, 2024, compared to a loss of RMB 34,738,000 for 2023[44]. - The company's trade payables as of December 31, 2024, amounted to RMB 1,263,464,000, a decrease from RMB 1,458,160,000 in 2023, reflecting a reduction of 13.4%[46]. Revenue Streams - Franchise sales accounted for 67.6% of total sales and rental income, direct sales accounted for 16.1%, and rental income accounted for 16.3%[70] - Revenue from property sales increased to RMB 772,430 thousand in 2024, up from RMB 464,366 thousand in 2023, representing a growth of approximately 66.2%[32] - Other income decreased to RMB 980,683 thousand from RMB 1,125,475 thousand in the previous year, reflecting a decline of about 12.9%[27][36] Operational Efficiency - Employee expenses totaled RMB 394,844 thousand, down from RMB 414,298 thousand in 2023, showing a reduction of about 4.7%[27][38] - Financing costs decreased to RMB 690,243 thousand from RMB 965,288 thousand in the previous year, a decline of approximately 28.5%[27][39] - Capital expenditures for the year amounted to RMB 362,497 thousand, compared to RMB 730,440 thousand in 2023, indicating a significant decrease of about 50.5%[27][29] - A significant reduction in operational expenses has been achieved, further enhancing the company's profitability and operational momentum[58] Market Trends and Strategies - The retail sales of consumer goods in China for 2024 reached RMB 48.8 trillion, with a year-on-year growth of 3.5%[50]. - The company aims to enhance consumer confidence and adapt to market changes, anticipating a new business cycle in the traditional retail sector in 2025[51]. - The company continues to reshape its business model, focusing on shopping center transformation and joint leasing strategies, leading to an increase in rental income as a percentage of total revenue[54] - The introduction of popular brands, including domestic fashion and high-end cosmetics, has increased their presence in major stores, contributing to overall sales performance[57] - The group plans to embrace technological changes and consumer preference shifts, aiming for a seamless integration of online and offline channels while enhancing digital operations to drive new growth points[64] Digital Transformation - The company is committed to digital transformation, developing online marketing apps to capture market trends and enhance the integration of online and offline operations[59] - In 2024, the group's online sales reached nearly RMB 300 million, with a significant contribution of 45% from the newly launched distribution feature in the self-operated online mall "Maolehui" after its launch in September 2024[60] - The total number of members for "Maolehui" surpassed 3.6 million, representing a year-on-year growth of 5.2%, while the new member conversion rate reached 84.76%, up 32% from 2023[61] Corporate Governance - The board is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance company value[89] - The audit committee, composed of all independent non-executive directors, reviewed the group's performance for the year ended December 31, 2024[91] - The company's auditor, PwC, confirmed that the preliminary financial figures align with the draft consolidated financial report for the year ended December 31, 2024[91]
茂业国际(00848) - 2024 - 年度业绩