Financial Performance - The company recorded revenue of approximately RMB 917 million for the year ending December 31, 2024, representing an increase of about 38.3% compared to the previous year[8]. - Gross profit for the year was approximately RMB 255 million, reflecting a growth of about 43.7% year-on-year[8]. - The company recorded revenue of approximately RMB 91.7 million for the year ending December 31, 2024, an increase of approximately 38.3% compared to RMB 66.3 million for the year ending December 31, 2023[14]. - The gross profit increased by approximately 43.7% to about RMB 25.5 million for the year ending December 31, 2024, compared to RMB 17.7 million for the previous year[16]. - The gross margin improved from approximately 26.7% to about 27.8% due to changes in product mix[16]. - The company reported a net loss of approximately RMB 8.3 million for the year ending December 31, 2024, a reduction from a loss of RMB 21.6 million in the previous year[22]. - Administrative expenses increased to approximately RMB 29.3 million for the year ending December 31, 2024, from RMB 26.0 million, primarily due to higher employee costs[19]. - The company maintained a strong liquidity position with cash and bank balances of approximately RMB 21.1 million as of December 31, 2024[23]. - The debt-to-equity ratio was approximately 4.0% as of December 31, 2024, indicating a low level of leverage[24]. Business Expansion and Diversification - The company plans to diversify its business by expanding into functional textile products, with a focus on using mugwort as a primary material due to its comfort and breathability[10]. - A share transfer agreement has been signed to acquire 90% of Shenzhen Guanshengtong Technology Co., Ltd., which specializes in blockchain technology and security solutions[10]. - The company aims to maintain its competitive advantage in comprehensive labeling solutions and production management while expanding its customer base and product offerings[9]. - The company is exploring online sales channels for its functional textile products to enhance revenue sources[10]. - The company has diversified its business by acquiring 90% of the shares in a technology firm focused on blockchain and IT security, which is expected to broaden future revenue sources[13]. - The company is expanding into other business opportunities in China, including re-entering the IT sector following the acquisition of Guanshengtong[48]. Employee and Governance - The company employed a total of 219 employees as of December 31, 2024, down from 232 employees in 2023[38]. - The employee cost for the year ended December 31, 2024, was approximately RMB 33.1 million, an increase from approximately RMB 24.7 million in 2023[38]. - The board of directors decided not to declare any final dividend for the year ended December 31, 2024, consistent with the previous year[32]. - The company emphasizes the importance of good corporate governance for long-term success and has complied with all applicable governance codes as of December 31, 2024[68]. - The roles of Chairperson and CEO are separated, in compliance with governance regulations, ensuring no individual holds both positions[69]. - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring a strong independent element[72]. - The company has achieved gender diversity on the board, with at least one female member, and aims to further increase this number in the next five years[79]. - The board has held four meetings during the year, with all directors attending the annual general meeting[81][82]. Risk Management and Compliance - The company faced various risks including potential public health events, rising raw material prices, and labor shortages[41]. - The company has established a clear process for identifying and nominating diverse candidates for board positions[78]. - The company has mechanisms in place to ensure the independence of the board, including annual reviews of the implementation of these mechanisms[89]. - The group has adopted a three-tier risk management approach to identify, assess, mitigate, and manage risks[130]. - The audit committee will conduct an annual review of the internal control and risk management systems[128]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report outlines the company's initiatives and performance in sustainable development for the fiscal year ending December 31, 2024[148]. - The board of directors emphasizes the integration of ESG concepts into corporate culture and daily operations to manage significant ESG-related risks and issues[153]. - The company will provide information on emissions and energy consumption in the ESG report, including standards and methods used for calculations[150]. - The company achieved a paper usage reduction to 469 tons in 2024, down from 552 tons in 2023[158]. - The company has established a target to reduce energy consumption based on the previous year's actual usage[156]. - The company has not detected any harmful waste from core business activities, focusing on minimizing non-harmful waste[158]. - The company promotes a paperless office environment, encouraging double-sided printing and the use of recycled paper[158]. Shareholder Communication - The company has established multiple communication channels with shareholders and investors, including annual reports and a dedicated website[139]. - The company has adopted a shareholder communication policy to enhance engagement with shareholders[140]. - The company encourages shareholders to actively check its website for all future company communications[145].
新达控股(08471) - 2024 - 年度财报