Financial Performance - For the year ended December 31, 2024, the Group's revenue amounted to approximately RMB2,157.0 million, representing an increase of approximately RMB91.5 million or approximately 4.4% compared to 2023[15]. - The gross profit for the year ended December 31, 2024, was approximately RMB215.2 million, a decrease of approximately RMB103.4 million or approximately 32.5% compared to the same period in 2023[16]. - The net loss for the year ended December 31, 2024, was approximately RMB1.5 million, a decrease of approximately RMB46.7 million or approximately 103.3% compared to the net profit of approximately RMB45.2 million for the same period in 2023[17]. - Basic and diluted loss per share attributable to ordinary equity owners of the parent for the year ended December 31, 2024, was approximately RMB0.02, a decrease of approximately RMB0.05 or approximately 166.7% compared to the earnings per share of approximately RMB0.03 for the same period in 2023[18]. - The Group's gross profit margin decreased to 10.0% in 2024 from 15.4% in 2023[23]. - The net profit margin for the year was -0.1%, down from 2.2% in the previous year[23]. - Total revenue for 2024 increased by approximately 4.4% to approximately RMB2,157.0 million, compared to approximately RMB2,065.5 million in 2023[52]. - The overall gross profit of the segment decreased by approximately 53.8% to approximately RMB114.8 million, with a gross profit margin decrease of approximately 8.8 percentage points to approximately 12.1%[69]. Dividend and Shareholder Information - The Board recommended a final dividend of RMB0.025 per ordinary share for the year ended December 31, 2024, subject to shareholders' approval at the AGM[19]. - The Board proposed a final dividend of RMB0.025 per ordinary share, subject to shareholder approval, bringing the total dividend for the year to RMB0.055 per ordinary share if approved[21]. Revenue Breakdown - Revenue from the top five largest customers accounted for approximately 43.7% of the Group's total revenue in 2024, up from approximately 37.0% in 2023[50]. - Revenue derived from the Chinese Mainland accounted for approximately 84.7% of the Group's total revenue in 2024, compared to approximately 82.2% in 2023[51]. - Revenue from the battery materials segment increased by approximately 51.2% to approximately RMB754.0 million, accounting for approximately 35.0% of the Group's total revenue[58]. - The revenue from dye intermediate products decreased by approximately 19.7% to approximately RMB424.8 million, accounting for approximately 19.7% of the Group's total revenue[64]. - Revenue from agricultural chemical intermediate products decreased by approximately 20.7% to approximately RMB523.8 million, accounting for approximately 24.3% of the Group's total revenue[65]. - Revenue from mainland China accounted for approximately 84.7% of total revenue, while export revenue accounted for approximately 15.3%[54]. Expenses and Cost Management - Selling and distribution expenses in 2024 were approximately RMB25.8 million, a decrease of approximately RMB18.4 million compared to RMB44.2 million in 2023, accounting for approximately 1.2% of total revenue[103][104]. - Administrative expenses for 2024 were approximately RMB158.2 million, a decrease of approximately RMB20.1 million from RMB178.3 million in 2023, representing approximately 7.3% of total revenue[105][106]. - Finance costs increased to approximately RMB38.3 million in 2024, up by approximately RMB5.3 million from RMB33.0 million in 2023, due to the recognition of repurchase obligations as financial liabilities[114]. - The income tax expense for the Group in 2024 was approximately RMB1.9 million, a decrease of approximately RMB12.5 million from RMB14.4 million in 2023, mainly due to a decrease in profit before tax[116]. Assets and Liabilities - The Group's total assets increased to RMB3,507.4 million in 2024 from RMB3,453.7 million in 2023[23]. - Current liabilities rose to RMB1,200.0 million in 2024 from RMB1,140.2 million in 2023[23]. - The Group's interest-bearing bank and other borrowings were approximately RMB208.4 million as of December 31, 2024, down from RMB317.1 million in 2023, with a fixed interest rate range of 2.95%-8.32%[130]. - The gearing ratio decreased to approximately 10.7% as of December 31, 2024, compared to 15.4% in 2023[133]. - Total current assets increased to approximately RMB1,562.3 million in 2024 from RMB1,467.5 million in 2023, primarily driven by an increase in trade receivables and notes receivable[134]. - Trade receivables and notes receivable rose by approximately RMB232.2 million, with turnover days increasing from 122 days in 2023 to 143 days in 2024[143][144]. - Other payables and accruals increased by approximately RMB307.0 million, reaching approximately RMB584.6 million in 2024, primarily due to endorsed notes receivable[151]. Research and Development - The Group continued to invest in research and development to enhance technological innovation capabilities and expand into new product areas[35]. - The Group completed the research project of continuous tandem esterification of DMSS products, enhancing energy saving and efficiency[85]. - The Group's research and development efforts focus on maintaining competitive advantages and exploring new business growth opportunities[88]. - The Group plans to increase investment in technology research and development to enhance core competitiveness in the new energy sector[97][100]. ESG and Sustainability - The Company is committed to promoting sustainable development and has integrated ESG governance into its strategic decision-making[179]. - The Company aims to accelerate the commercialization of green technology to drive high-quality corporate growth amidst global energy transitions[180]. - The Company established the ESG Committee before the start of the 2020 reporting period and formed a sustainable development team in 2023 to manage ESG-related issues[186]. - The Board is responsible for assessing the impact of ESG risks on the Company's operations and formulating corresponding ESG policies[190]. - The Company conducts annual materiality assessments to understand stakeholder opinions and expectations regarding ESG matters[191]. - The ESG Committee monitors and reviews emerging ESG trends and issues, providing guidance for the development of the Company's ESG vision[196]. - The Company aims to improve its performance in ESG areas to boost core competitiveness and sustainable development capabilities[197].
彩客新能源(01986) - 2024 - 年度财报