Financial Performance - For the fiscal year 2024, total revenue was approximately RMB 142.4 million, a decrease of about 29.5% compared to RMB 201.9 million in fiscal year 2023[4]. - Sales revenue from spherical graphite and its by-products was approximately RMB 29.4 million, down 70.5% from RMB 99.6 million in the previous fiscal year[4]. - Sales revenue from flake graphite concentrate increased by 7.5% to approximately RMB 109.0 million, compared to RMB 101.3 million in fiscal year 2023[4]. - Gross profit for fiscal year 2024 was approximately RMB 41.6 million, a decrease of 43.6% from RMB 73.7 million in fiscal year 2023, with a gross margin decline from 36.5% to 29.2%[4]. - The net loss for fiscal year 2024 was approximately RMB 12.5 million, compared to a net profit of RMB 21.3 million in fiscal year 2023, representing a decline of 158.6%[4]. - The decline in sales prices, particularly for spherical graphite products, was attributed to a slowdown in the downstream anode industry and intensified competition in the graphite market[4]. - Total revenue for the fiscal year 2024 was approximately RMB 142.4 million, a year-on-year decrease of 29.5% due to weak market demand in the natural graphite industry and intense competition[14]. - The gross profit for the fiscal year 2024 was approximately RMB 41.6 million, a decrease of 43.6% year-on-year, with a gross margin of 29.2%, down 7.3 percentage points[14]. - The company recorded a net loss of approximately RMB 12.5 million for the fiscal year 2024, compared to a net profit of approximately RMB 21.3 million in the previous year[14]. - Revenue from sales of spherical graphite and its by-products accounted for approximately 20.7% of total revenue in FY2024, down from 49.3% in FY2023[44]. - The sales revenue from flake graphite concentrates increased to RMB 108.966 million in FY2024, representing 76.5% of total revenue[43]. - The company recorded a tax credit of approximately RMB 1.0 million for fiscal year 2024, compared to a tax expense of approximately RMB 2.8 million for fiscal year 2023[57]. - The adjusted net loss under non-Hong Kong Financial Reporting Standards for fiscal year 2024 was RMB 15.9 million, down from an adjusted profit of RMB 18.7 million in fiscal year 2023[59]. Production and Sales - Sales volume of spherical graphite was 3,089 tons, a decrease of 52.0% year-on-year, with a gross margin of 16.6%, down 18.9 percentage points[15]. - The total production of spherical graphite is planned to decrease from approximately 8,700 tons in fiscal year 2023 to approximately 3,200 tons in fiscal year 2024[15]. - The total sales volume of flake graphite concentrate in fiscal year 2024 was 45,432 tons, compared to 36,348 tons in fiscal year 2023[46]. - Revenue from flake graphite concentrate sales increased to approximately RMB 109.0 million in fiscal year 2024, up by about 7.5% from RMB 101.3 million in fiscal year 2023[47]. - Revenue from spherical graphite sales dropped significantly to approximately RMB 29.4 million in fiscal year 2024, a decrease of about 70.5% from RMB 99.6 million in fiscal year 2023[47]. Strategic Focus and Market Adaptation - The company has shifted its focus to increase sales of flake graphite concentrate to maintain profitability amid challenging market conditions[4]. - The company is exploring new strategies for market expansion and product development to adapt to the evolving market landscape[4]. - The company plans to adopt a conservative strategy for business expansion and development in response to market changes during the industry's turbulent period[23]. - The company aims to strengthen its competitiveness in the anode materials sector while maintaining its core business in refractory materials manufacturing[23]. - The company aims to enhance employee engagement and accountability to achieve long-term sustainable growth and success in the graphite industry[97]. - In 2024, the company will focus on business expansion, customer satisfaction, operational safety and efficiency, and environmentally friendly production[97]. Research and Development - The company continues to enhance its research and development capabilities, focusing on innovative processes in the natural graphite industry[19]. - Research and development expenses decreased to approximately RMB 10.9 million in fiscal year 2024, a reduction of about 36.5% from RMB 17.2 million in fiscal year 2023[55]. Corporate Governance - The company has adhered to all applicable corporate governance code provisions during the reporting period, except for a specific provision related to the chairman and CEO[98]. - The board of directors is responsible for overseeing the company's overall strategy and financial performance, including risk management and compliance with legal regulations[99]. - The board consists of two executive directors and four independent non-executive directors, ensuring a strong independent element in its composition[106]. - The company has established a robust internal control system to monitor financial performance and risk management[99]. - The audit committee consists of four members, including Mr. He as the chairman, who has appropriate accounting and financial management expertise[114]. - The company has established various committees, including the audit committee, remuneration committee, nomination committee, and compliance committee, operating under the board's adopted terms of reference[112]. - The board has confirmed the effectiveness of the risk management and internal control systems during the reporting period[133]. Shareholder Information - The company did not recommend a final dividend for the fiscal year 2024, consistent with no dividend in fiscal year 2023[169]. - The company has a rigorous and ongoing strategic planning process to identify and assess opportunities and challenges, creating a planned action plan for sustainable long-term value for shareholders[97]. - The company has established long-term stable relationships with its top five customers and suppliers[159]. - The company emphasizes the importance of maintaining good relationships with stakeholders to achieve long-term goals[158]. Environmental Commitment - The company is committed to sustainable development and reducing energy consumption to minimize environmental impact[166].
中国石墨(02237) - 2024 - 年度财报