Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 54,472,000, an increase of 12.5% compared to RMB 48,545,000 in 2023[4]. - The gross profit for the same period was RMB 1,771,000, representing a gross margin of approximately 3.25%[4]. - The net loss for the year was RMB 6,954,000, significantly improved from a net loss of RMB 27,038,000 in the previous year, indicating a reduction of 74.3%[4][5]. - The total comprehensive loss for the year was RMB 6,263,000, down from RMB 25,872,000 in 2023, reflecting a 75.7% decrease[5]. - Revenue from customer contracts for tin-plated packaging products was RMB 54,472,000 in 2024, up 12% from RMB 48,545,000 in 2023[22]. - The group reported a net loss before tax of approximately RMB 6,914,000 for 2024, compared to a loss of RMB 27,038,000 in 2023, indicating an improvement of 74%[28]. - The company reported a basic and diluted loss per share of RMB 0.04, improved from RMB 0.17 in 2023[5]. - The group did not declare any dividends for the year ended December 31, 2024, consistent with 2023[27]. Assets and Liabilities - Current assets decreased to RMB 44,614,000 from RMB 90,823,000 in 2023, a decline of 50.9%[6]. - Current liabilities were RMB 93,723,000, slightly down from RMB 108,236,000 in the previous year[6]. - The company’s non-current assets decreased to RMB 2,084,000 from RMB 22,828,000 in 2023, a decline of 90.9%[6]. - The group’s total liabilities net of current liabilities stood at RMB (93,598,000), compared to RMB (87,335,000) in the previous year[6]. - As of December 31, 2024, the company's net current liabilities and total liabilities were approximately RMB 49,109,000 and RMB 93,598,000, respectively[71]. - The company's cash and cash equivalents totaled approximately RMB 41 million as of December 31, 2024, down from RMB 203 million as of December 31, 2023[48]. - The company's debt-to-asset ratio increased from 24.6% as of December 31, 2023, to 60.0% as of December 31, 2024[48]. Operational Developments - The company has commenced operations in product repackaging and sales during the fiscal year ending December 31, 2024[7]. - The group has implemented cost control measures to enhance operational efficiency and improve future profitability and cash flow[17]. - The group continues to seek additional financing resources, including issuing shares or obtaining other credit financing, to meet its due debts and obligations[17]. - The group’s employee costs (excluding directors' remuneration) decreased to RMB 2,417,000 in 2024 from RMB 2,927,000 in 2023, a decline of 17%[26]. - The group employed 115 employees as of December 31, 2024, an increase from 92 employees in 2023[52]. Revenue Sources - Revenue from external customers in mainland China (excluding Hong Kong) was RMB 40,305,000 in 2024, a decrease from RMB 44,843,000 in 2023, while revenue from Hong Kong increased to RMB 14,167,000 from RMB 3,702,000[19]. - Revenue from major customer A1 decreased to RMB 11,735,000 in 2024 from RMB 16,333,000 in 2023, representing a decline of 28%[20]. Financial Management - The total financing costs decreased to RMB 1,566,000 in 2024 from RMB 3,072,000 in 2023, a reduction of 49%[23]. - The group incurred a loss of RMB 3,804,000 from fair value changes of financial assets in 2024, compared to a gain of RMB 414,000 in 2023[23]. - The group’s total borrowings decreased to RMB 74,573,000 in 2024 from RMB 120,750,000 in 2023, a decrease of 38%[32]. - Financing costs decreased from approximately RMB 31 million for the year ended December 31, 2023, to approximately RMB 16 million for the year ended December 31, 2024, a reduction of about 48.4%[45]. Investment and Future Plans - The group plans to diversify its investment portfolio to reduce concentration and investment risks due to recent market volatility[53]. - The group has maintained a cautious investment approach to minimize potential financial risks[54]. - The board believes that the future performance of the group's investments will be volatile and significantly influenced by the overall economic environment and market conditions[54]. - The group has no significant investment or capital asset plans other than those disclosed in the annual report as of December 31, 2024[57]. Compliance and Governance - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2024, confirming compliance with applicable accounting standards and GEM listing rules[69]. - The company has adopted the principles set out in Appendix 15 of the GEM Listing Rules and complied with all applicable code provisions[68]. - There are no known competitive interests from directors or controlling shareholders that may conflict with the company's business as of December 31, 2024[67]. - The independent auditor's report highlighted significant uncertainties regarding the company's ability to continue as a going concern[71]. Miscellaneous - The company has not purchased, sold, or redeemed any of its listed securities during the year ended December 31, 2024[66]. - The company has engaged Consultant A to monitor and improve production efficiency, leveraging their expertise in the technology sector[65].
万成金属包装(08291) - 2024 - 年度业绩