Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 44,279,000, a decrease of 35.2% compared to RMB 68,297,000 in 2023[4] - Gross profit for the year was RMB 542,000, significantly improved from RMB 138,000 in the previous year[4] - The company reported a pre-tax loss of RMB 24,214,000, a reduction of 83.5% from a loss of RMB 146,935,000 in 2023[4] - The annual loss attributable to the owners of the company was RMB 24,520,000, compared to RMB 144,372,000 in the previous year, indicating a substantial improvement[5] - The basic and diluted loss per share was RMB 2.71, an improvement from RMB 16.39 in the previous year[5] - Revenue from customer contracts for the year ended December 31, 2024, was RMB 44,279 thousand, a decrease of 35.5% from RMB 68,297 thousand in 2023[15] - The total segment revenue for the pig slaughtering and meat trading segment was RMB 44,279 thousand for the year ended December 31, 2024, compared to RMB 65,242 thousand in 2023, reflecting a decline of 32.1%[19] - The company reported a total loss before tax of RMB 24,214 thousand for the year ended December 31, 2024, compared to a loss of RMB 146,935 thousand in 2023, indicating an improvement[19] - The company reported a loss attributable to shareholders of approximately RMB 24,520,000 for the year ended December 31, 2024, compared to a loss of RMB 144,372,000 in 2023, indicating a significant reduction in losses by about 83%[38] - Revenue for the year ended December 31, 2024, was approximately RMB 44,300,000, a decrease of about 35.2% or RMB 24,000,000 from approximately RMB 68,300,000 in 2023[49] Assets and Liabilities - Non-current assets decreased to RMB 50,070,000 from RMB 73,675,000 in 2023, reflecting a decline of 32.2%[6] - Current assets increased slightly to RMB 417,636,000 from RMB 413,802,000, showing a marginal growth of 0.8%[6] - Total liabilities increased to RMB 73,751,000 from RMB 70,511,000, representing a rise of 3.2%[6] - The company's equity attributable to owners decreased to RMB 397,040,000 from RMB 420,888,000, a decline of 5.7%[7] - Total assets for the reportable segments decreased to RMB 460,741 thousand as of December 31, 2024, from RMB 481,047 thousand as of December 31, 2023, a decline of 4.0%[24] - Total liabilities for the reportable segments slightly decreased to RMB 53,374 thousand as of December 31, 2024, from RMB 53,453 thousand as of December 31, 2023[24] - The current ratio as of December 31, 2024, was 5.7, slightly down from 5.9 in 2023[51] - Total equity as of December 31, 2024, was approximately RMB 393.7 million, down from RMB 416.7 million in 2023[51] - The group had no outstanding borrowings as of December 31, 2024, consistent with 2023[52] - The debt-to-equity ratio was zero as of December 31, 2024, unchanged from 2023[54] Operational Highlights - The company continues to focus on the production and sales of pork and related meat products in the local market of China, indicating ongoing commitment to its core business[8] - The company generated total revenue of RMB 44,279 thousand in 2024, with 100% coming from China, compared to 95.5% in 2023[28] - The company continues to monitor the pork market closely to stabilize production and operating costs amid challenges in the industry[45] - The group plans to enhance its slaughtering and processing capabilities, focusing on producing higher quality pork products and improving cost control measures[62] - The company is focused on strategic expansion and enhancing its market presence[72] - Future outlook includes potential new product development and technological advancements[72] - The company aims to improve operational efficiency and drive revenue growth through innovative strategies[72] Cost Management - The company reported a total of RMB 43,737 thousand in cost of goods sold for the year 2024, down from RMB 65,172 thousand in 2023, indicating a reduction in operational costs[36] - The company experienced a decrease in administrative expenses by approximately RMB 2,200,000 or 14.9%, totaling around RMB 12,500,000 for the year ended December 31, 2024[49] Employee and Governance - The number of employees decreased from 34 in 2023 to 30 as of December 31, 2024[60] - The board of directors consists of five members, including two executive directors and three independent non-executive directors[72] - The executive directors are Mr. Zhang Zhenghua and Ms. Xiang Yuan[72] - The board is committed to ensuring the accuracy of financial information and reporting[72] - The company is dedicated to maintaining transparency and accountability in its operations[72] Challenges and Risks - The company faced challenges in the pipeline system products business, which saw no revenue in 2024, down from RMB 3,100,000 in 2023, due to economic downturns and natural disasters[49][48] - The company incurred a write-off of property, plant, and equipment amounting to approximately RMB 18,000,000 due to severe weather conditions affecting its facilities[47] - The company reported a net expected credit loss provision of RMB 393 thousand in 2024, significantly lower than RMB 24,487 thousand in 2023, indicating improved credit quality[36] - The impairment loss on property, plant, and equipment was RMB 59,869 thousand in 2023, which was not reported in 2024, suggesting improved asset performance[36] Dividends and Shareholder Information - The company did not recommend a final dividend for the year ending December 31, 2024, compared to no dividend in 2023[37] - The board did not recommend the declaration of a final dividend for the year ending December 31, 2024, consistent with 2023[59] - The company issued a total of 922,838,000 shares as of December 31, 2024, an increase from 880,838,000 shares[61] - The group has no significant contingent liabilities as of December 31, 2024[56] Future Outlook - The management is optimistic about achieving growth targets in the upcoming fiscal periods[72] - The company is exploring opportunities for mergers and acquisitions to strengthen its market position[72] - There is an emphasis on collaboration and sharing insights within the team to enhance decision-making[72]
惠生国际(01340) - 2024 - 年度业绩