Financial Performance - The group's revenue was approximately RMB 71.6 million, a decrease of 7.6% or about RMB 5.9 million compared to RMB 77.5 million in 2023[3]. - The group's loss before tax was approximately RMB 285.0 million, a reduction of RMB 108.1 million from RMB 393.1 million in 2023[3]. - The net loss for the group was approximately RMB 285.2 million, compared to RMB 396.2 million in 2023[3]. - Basic and diluted loss per share attributable to ordinary equity holders was approximately RMB 0.28, down from RMB 1.03 in 2023[3]. - Gross profit for the year was RMB 11.2 million, compared to RMB 10.1 million in 2023, indicating an increase in gross margin[4]. - Other income and gains amounted to RMB 9.9 million, up from RMB 5.2 million in 2023[4]. - Selling and distribution expenses decreased to RMB 801,000 from RMB 1.9 million in 2023, reflecting cost control measures[4]. - Administrative expenses were RMB 45.5 million, down from RMB 49.8 million in 2023, showing improved operational efficiency[4]. - The group recognized impairment losses on trade receivables of RMB 3.9 million, significantly reduced from RMB 18.2 million in 2023[4]. Assets and Liabilities - Total non-current assets increased from RMB 810,692 thousand in 2023 to RMB 1,068,849 thousand in 2024, representing a growth of approximately 31.7%[5]. - Current assets rose from RMB 188,944 thousand in 2023 to RMB 267,460 thousand in 2024, marking an increase of about 41.6%[5]. - Total liabilities decreased from RMB 163,582 thousand in 2023 to RMB 170,950 thousand in 2024, indicating a slight increase of approximately 4.2%[5]. - The company's total assets grew from RMB 836,054 thousand in 2023 to RMB 1,165,359 thousand in 2024, reflecting an increase of around 39.4%[5]. - The net current assets improved significantly from RMB 25,362 thousand in 2023 to RMB 96,510 thousand in 2024, showing an increase of approximately 280.5%[5]. - The company's cash and cash equivalents surged from RMB 16,053 thousand in 2023 to RMB 100,956 thousand in 2024, a remarkable increase of about 528.5%[5]. - The total equity attributable to the company's owners increased from RMB 600,704 thousand in 2023 to RMB 856,660 thousand in 2024, representing a growth of approximately 42.5%[6]. - The company's total liabilities and equity increased from RMB 600,704 thousand in 2023 to RMB 856,660 thousand in 2024, indicating a growth of around 42.5%[6]. - The company's retained earnings rose from RMB 496,431 thousand in 2023 to RMB 597,056 thousand in 2024, reflecting an increase of approximately 20.3%[6]. - The company's total non-current liabilities decreased from RMB 235,350 thousand in 2023 to RMB 308,699 thousand in 2024, indicating a decline of about 31.1%[6]. Accounting Standards - The group has adopted revised International Financial Reporting Standards (IFRS) for the current year, which took effect on January 1, 2024, with no significant impact on the financial position or performance[9]. - The group has not early adopted any newly issued or revised IFRS that are not yet effective, including IFRS 9 and IFRS 10, which may affect future financial reporting[10]. - IFRS 18 introduces new presentation requirements for income statements, categorizing all income and expenses into five categories: operating, investing, financing, income tax, and discontinued operations[11]. Business Segments - The group has two reportable operating segments for management purposes, which are monitored separately for performance evaluation and resource allocation[13]. - The marble products segment primarily produces marble and calcium carbonate products for further processing or trade[14]. Market Conditions and Strategy - The company is focused on enhancing its market position and exploring new strategies for growth in the upcoming fiscal year[2]. - The group adopted a cautious strategy, focusing on supporting sales and effectively managing inventory levels due to weak demand and ongoing pressures in the real estate sector[37]. - The company plans to focus on market expansion and new product development to improve future performance and mitigate losses[16]. - The calcium carbonate business maintained a moderate low-profit strategy to sustain its market share amid relatively better market conditions[39]. - The group has slowed down major investments and operational expansions until the business environment provides greater stability and predictability[37]. - The group is actively seeking legal advice regarding the mining license issue and aims to communicate with the local authorities to overturn the decision if possible[40]. Employee and Operational Costs - Employee benefits expenses totaled RMB 21,457,000 for the current year, up from RMB 16,355,000 in the previous year, reflecting a 31.5% increase[19]. - The company reported a total of RMB 33,307,000 in depreciation and amortization expenses for the current year, compared to RMB 29,963,000 in the previous year, representing an increase of approximately 11.5%[19]. - The company’s total employee benefits expenses included contributions to defined benefit plans amounting to RMB 2,073,000, up from RMB 1,623,000 in the previous year[19]. - Employee costs, including director remuneration, amounted to approximately RMB 16.4 million in 2024, down from RMB 21.5 million in 2023, reflecting a reduction of about 23.7%[74]. - Contributions to the central pension plan for 2024 were approximately RMB 1.6 million, compared to RMB 2.1 million in 2023, indicating a decrease of about 23.8%[76]. Shareholder Information - The company did not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[23]. - The basic loss per share for the year ending December 31, 2024, was calculated based on 1,033,327,084 shares issued, compared to 384,383,287 shares in the previous year, indicating a substantial increase in shares outstanding[24]. - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2024[93]. Corporate Governance - The audit committee consists of three independent non-executive directors and has reviewed the accounting principles and practices adopted by the company[94]. - The company has adhered to corporate governance standards and has made efforts to maintain high levels of transparency and accountability[95]. - The company will regularly review and improve its corporate governance practices in line with recent developments[97]. - The company is led by a diverse board of directors[100]. - The meeting highlights the importance of corporate governance[100]. - The company emphasizes transparency in its operations[100]. - The board composition reflects a balance of executive and independent oversight[100]. - The company aims to enhance shareholder value through strategic decisions[100]. - The focus on leadership continuity is crucial for future growth[100]. Future Outlook - The company anticipates that China's economic recovery will continue to be constrained by weak domestic demand and a gradual rebound in the real estate sector[86]. - The company plans to explore opportunities in the artificial intelligence (AI) sector as part of its diversification strategy announced in October 2024[86]. - The company is seeking to divest non-core assets, such as its warehousing and logistics business, to increase liquidity and reduce debt[86].
雅高控股(03313) - 2024 - 年度业绩