Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 486.7 million, a decrease of 4.2% compared to RMB 508.6 million in 2023[3] - The gross profit for the same period was RMB 104.2 million, down from RMB 105.4 million in the previous year, reflecting a slight decline of 1.2%[3] - The company incurred a loss before tax of RMB 13.0 million, compared to a loss of RMB 2.3 million in 2023, indicating a significant increase in losses[3] - The net loss for the year was RMB 20.3 million, which is a 109.4% increase from the net loss of RMB 9.7 million in the prior year[3] - Basic and diluted loss per share was RMB 2.94, compared to RMB 0.32 in the previous year, showing a substantial increase in loss per share[3] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 409.1 million, slightly up from RMB 407.7 million in 2023[4] - The company's cash and bank balances decreased to RMB 250.6 million from RMB 270.1 million in the previous year, a decline of 7.5%[4] - Current liabilities increased to RMB 346.3 million from RMB 331.2 million, reflecting a rise of 4.5%[5] - The company's total equity decreased to RMB 264.2 million from RMB 282.5 million, a decline of 6.5%[5] Revenue Breakdown - Revenue from lingerie products was RMB 361,770,000 in 2024, slightly up from RMB 361,339,000 in 2023, indicating a growth of 0.1%[12] - Revenue from knitted fabrics decreased by 19.1% to RMB 82,774,000 in 2024 from RMB 102,283,000 in 2023[12] - The segment profit for lingerie products was RMB 28,746,000, while knitted fabrics reported a loss of RMB 5,539,000 for the year ended December 31, 2024[15] New Business Segments - The company began providing space measurement services and industrial drones after acquiring Youying Intelligent Technology (Shenzhen) Co., Ltd. in 2023, marking a new operational segment[13] - Revenue from space measurement services, industrial drones, and measurement robots was RMB 2,341,000 in 2024, compared to RMB 1,753,000 in 2023, reflecting a growth of 33.4%[15] Other Income and Expenses - Total other income for the year 2024 was RMB 9,504,000, a significant increase of 141% compared to RMB 3,941,000 in 2023[19] - The interest income from bank deposits decreased to RMB 945,000 in 2024 from RMB 1,033,000 in 2023, reflecting a decline of approximately 8.5%[19] - The net foreign exchange gain increased to RMB 6,594,000 in 2024, up 171% from RMB 2,429,000 in 2023[19] - Financing costs rose to RMB 10,529,000 in 2024, compared to RMB 5,779,000 in 2023, marking an increase of 82%[22] Tax and Dividends - The total tax expense for 2024 was RMB 7,305,000, slightly down from RMB 7,353,000 in 2023, a decrease of about 0.7%[23] - No dividends were declared or proposed for the year 2024, consistent with 2023[31] Trade Receivables and Payables - Trade receivables increased to RMB 65,595,000 in 2024 from RMB 48,884,000 in 2023, representing a growth of 34.2%[35] - The aging analysis of trade receivables shows that amounts overdue by 90 days or more rose to RMB 5,201,000 in 2024 from RMB 676,000 in 2023, indicating a significant increase in overdue receivables[36] - Trade payables decreased to RMB 54,932,000 in 2024 from RMB 64,353,000 in 2023, a decline of 14.8%[41] Market and Economic Outlook - The global economic growth rate for 2024 is projected at 3.2%, slightly lower than 2023, with China's GDP growth expected at 5.0%[43] - The total value of China's goods trade reached RMB 43.85 trillion in 2024, marking a year-on-year growth of 5%[44] - China's textile and apparel exports totaled USD 301.1 billion in 2024, with a year-on-year increase of 2.8%[44] Strategic Initiatives - The group is actively exploring new product application scenarios to broaden its potential customer base, particularly in the digital twin city and smart construction sectors[49] - The group aims to enhance operational efficiency through comprehensive participation in R&D, sales, daily operations, and financial management[49] - The company aims to expand its global marketing network and deepen collaborations with internationally renowned brands to capture more market opportunities in the quality functional fabric and lingerie business[82] Corporate Governance - The company emphasizes adherence to corporate governance codes to enhance accountability and transparency to shareholders[86] - The annual general meeting of shareholders is scheduled to be held on May 23, 2025[90] - The company has appointed Shinewing (HK) CPA Limited as its auditor for the review year[92]
广泰国际控股(00844) - 2024 - 年度业绩