Financial Performance - Revenue for the year ended December 31, 2024, was RMB 48,889,000, a decrease of 16.4% from RMB 58,491,000 in 2023[3] - The loss attributable to the owners of the company for the year was RMB 85,301,000, compared to a loss of RMB 59,600,000 in 2023, representing an increase in loss of RMB 25,701,000[3] - Basic loss per share for the year was RMB 40.7, compared to RMB 38.7 in 2023[4] - Gross profit for the year was RMB 11,327,000, down from RMB 21,654,000 in 2023, indicating a significant decline in profitability[4] - The group's pre-tax loss for 2024 was RMB 85,196 thousand, compared to a pre-tax loss of RMB 59,739 thousand in 2023, representing a 42.5% increase in losses[17] - The group incurred a loss of RMB 1,786 thousand from other income in 2024, contrasting with a profit of RMB 4,111 thousand in 2023[21] - The total financial costs for the group in 2024 were RMB 1,592 thousand, slightly higher than RMB 1,532 thousand in 2023[22] - The company reported a basic loss per share of approximately RMB 0.41 for the fiscal year 2024, compared to RMB 0.39 in 2023, based on a weighted average of 209,548,000 shares outstanding[26] - Total revenue decreased by approximately RMB 9,600,000 or 16.4% from about RMB 58,500,000 in fiscal year 2023 to about RMB 48,900,000 in fiscal year 2024[39] Asset and Liability Management - Total assets less current liabilities decreased to RMB 80,325,000 in 2024 from RMB 154,014,000 in 2023[5] - Current liabilities exceeded current assets by RMB 12,835,000, highlighting a liquidity challenge[5] - Cash and cash equivalents increased to RMB 8,551,000 in 2024 from RMB 4,656,000 in 2023, indicating improved liquidity[5] - Total equity decreased by 49.5% to approximately RMB 76,200,000 as of December 31, 2024, from RMB 150,900,000 as of December 31, 2023[49] - Total borrowings decreased to approximately RMB 13,300,000 in 2024 from RMB 16,300,000 in 2023, with a debt-to-equity ratio of approximately 0.17[50] Segment Performance - The marble slag segment generated revenue of RMB 41,402 thousand in 2024, down 26.4% from RMB 56,261 thousand in 2023[17] - The food brand segment reported revenue of RMB 7,487 thousand in 2024, an increase of 235.4% from RMB 2,230 thousand in 2023[17] - Sales of marble slag dropped by approximately RMB 14,900,000 from about RMB 56,300,000 in 2023 to about RMB 41,400,000 in 2024, reflecting a decline in demand[39] - The company’s food sales increased by approximately RMB 5,300,000, rising from about RMB 2,200,000 in 2023 to about RMB 7,500,000 in 2024, driven by enhanced brand promotion and new product launches[39] - The sales revenue of the group's marble slag decreased by 26.4% from approximately RMB 56,300,000 in the fiscal year 2023 to approximately RMB 41,400,000 in the fiscal year 2024[58] Impairment and Expenses - The company recorded an impairment loss on non-financial assets of RMB 55,764,000, significantly higher than RMB 27,317,000 in 2023[4] - The group reported a significant impairment loss of RMB 44,295 thousand on property, plant, and equipment in 2024, compared to RMB 21,668 thousand in 2023[23] - The total employee cost for the fiscal year 2024 was approximately RMB 8,500,000, compared to RMB 8,100,000 in the fiscal year 2023[57] - Selling and distribution expenses increased to approximately RMB 4,500,000 in 2024 from RMB 4,200,000 in 2023, mainly due to increased production and promotional costs in the food brand business[42] - Administrative expenses decreased to approximately RMB 22,000,000 in 2024 from RMB 32,600,000 in 2023, primarily due to reduced costs related to reclamation and greening projects[43] Future Outlook and Strategic Initiatives - The company plans to explore further equity fundraising opportunities to meet capital needs following the rights issue[10] - The group expects moderate growth in the marble slag business in 2025 as the real estate market demand gradually recovers[59] - The group anticipates a gradual recovery in the construction industry by 2025, supported by government policies aimed at stabilizing the real estate market[35] - The group is adjusting its business operations, which may negatively impact sales performance in the first half of 2025[59] - The group will continue to monitor market conditions closely and identify potential risks that may adversely affect its business performance[60] Compliance and Governance - The audit committee consists of two independent non-executive directors who reviewed the consolidated financial statements for the year ending December 31, 2024[67] - The financial data for the year ending December 31, 2024, has been verified by the auditor, confirming consistency with the audited consolidated financial statements[68] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, including all information required by listing rules[69]
中国金石(01380) - 2024 - 年度业绩