Financial Performance - For the year ended December 31, 2024, the company's revenue increased by 64.7% to RMB 516.0 million, compared to RMB 313.3 million in 2023[11] - Gross profit for the year was RMB 143.2 million, reflecting a 49.3% increase from RMB 95.9 million in the previous year[11] - Profit attributable to equity shareholders rose by 68.9% to RMB 49.5 million, up from RMB 29.3 million in 2023[11] - Basic and diluted earnings per share increased by 68.8% to RMB 38.7 cents, compared to RMB 22.93 cents in the prior year[11] - The Group's revenue for the year ended 31 December 2024 increased by 65% to RMB516 million, compared to RMB313 million in 2023[20] - Net profit for the year was RMB49.54 million, representing a year-on-year increase of RMB20.18 million from RMB29.35 million in 2023[20] - Earnings per share rose to RMB38.70 cents, up from RMB22.93 cents in 2023[20] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 1,063,564 thousand, a 3.3% increase from RMB 1,029,125 thousand in 2023[12] - Net current assets increased by 15.7% to RMB 537,095 thousand, compared to RMB 464,166 thousand in the previous year[12] - The company achieved a current ratio of 2.5, up from 2.3 in 2023, indicating improved liquidity[13] - Total cash and bank balances increased to approximately RMB424,028,000 as of December 31, 2024, compared to approximately RMB246,375,000 as of December 31, 2023[71] - Inventories decreased by approximately 20.0% from approximately RMB260.3 million at the end of 2023 to approximately RMB208.2 million at the end of 2024[67] - Trade receivables decreased by approximately 12.6% from approximately RMB391.7 million as of December 31, 2023, to approximately RMB342.3 million as of December 31, 2024[62] - As of December 31, 2024, the Group had no borrowings, maintaining a strong net cash position[79] Operational Strategies - The company successfully adjusted its operational strategies in response to external economic conditions and internal challenges, enhancing risk management and cost control[16] - The Group's strategic focus will remain on core business operations while enhancing internal management and cost control measures[31] - The Group aims to enhance its product offerings towards higher-end, intelligent, and green developments through increased R&D investment[98] Research and Development - The Company plans to intensify research and development of new products and technologies to enhance its market position and brand value[26] - Revenue from brass electroplating wire production lines increased by approximately 88.6% to RMB99 million, compared to RMB52.5 million in 2023[39] - Revenue from standalone machines rose by approximately 60.9% to RMB376.1 million, up from RMB233.8 million in 2023[40] - Revenue from other mould repairing equipment, components parts and accessories increased by approximately 10.9% to approximately RMB15.1 million in 2024 from approximately RMB13.6 million in 2023, primarily due to an increase in the number of renovation projects[47] Corporate Governance - The Company is committed to high standards of corporate governance, which is essential for enhancing investor confidence and maximizing shareholder returns[199] - The Board has established four committees: Audit Committee, Remuneration and Assessment Committee, Nomination Committee, and Strategic Committee to oversee various aspects of the Company's affairs[200] - The Group has established a sound internal control system, significantly improving internal work processes and effectively controlling operational risks[193] Employee and Management - As of December 31, 2024, the Group employed a total of 181 full-time employees, a decrease from 197 employees as of December 31, 2023[102] - The total employee remuneration for the year ended December 31, 2024, was approximately RMB28.8 million, compared to approximately RMB27.9 million in 2023, reflecting an increase of about 3.2%[102] - The company has adhered to relevant laws, regulations, and the Hong Kong Stock Exchange listing rules in its operations[184] - The leadership team has a diverse background in finance, technology, and management, which supports the company's strategic objectives[143][144][148] Awards and Recognition - The company was awarded the national title of "Specialized and Innovative Small Giant," highlighting its industry-leading innovation and specialization[17] - The Group received the national-level honorary title of "Specialized and New Small Giant," indicating its leading position in product innovation and technology-driven development[22] Financial Risks - If the USD had strengthened/weakened by 5% against the RMB, the Group's post-tax profits for the year would have been approximately RMB4,350,000 higher/lower[84] - The Group's foreign currency risk is considered to be at an acceptable level during the year[83] - The Group continues to face challenges in the tire market due to global economic fluctuations and trade uncertainties[98]
盛力达科技(01289) - 2024 - 年度财报