Financial Performance - The company's revenue for the reporting period reached approximately RMB 906.8 million, an increase of about 28.5% compared to the previous year[11]. - The net profit for the reporting period was approximately RMB 51.3 million, reflecting a growth of about 17.7% year-on-year[11]. - The CMS business revenue increased to approximately RMB 575.4 million, representing a growth of about 36.8% from RMB 420.6 million in the previous year[16]. - The OBM business revenue decreased to approximately RMB 25.7 million, a decline of about 65.8% from RMB 75.2 million in the previous year[17]. - The company reported a total comprehensive income attributable to owners of approximately RMB 37.8 million, down from RMB 39.1 million the previous year[13]. - The company's basic earnings per share were approximately RMB 0.10, compared to RMB 0.09 in the previous year[11]. - The wholesale business revenue for 2024 was approximately RMB 305,700,000, an increase of about 45.6% compared to RMB 209,900,000 in 2023[20]. - The sales cost for the reporting period was approximately RMB 765,000,000, representing an increase of about 33.6% from RMB 572,600,000 in 2023[21]. - The gross profit recorded was approximately RMB 141,800,000, an increase of about 6.5% from RMB 133,100,000 in 2023, with a gross margin of 15.6%, down 3.3% from 18.9% in 2023[22]. - The net profit for the period was approximately RMB 51,300,000, an increase of about 17.7% from RMB 43,600,000 in 2023, with a net profit margin decreasing from 6.2% in 2023 to 5.7% in 2024[23]. Strategic Initiatives - The company plans to enhance its strategic customer relationships and expand its domestic market presence while developing high-value-added products[11]. - The company aims to increase its investment in e-commerce channels to boost sales[11]. - The company is exploring potential investment opportunities to enhance competitiveness and synergy[11]. - The group plans to continue upgrading existing production lines to improve automation and product quality, and will invest in the development of aerosol products through its Chinese subsidiaries[52]. - For the fiscal year 2025, the group aims to strengthen supply chain construction, control procurement costs, and enhance R&D capabilities to develop high-value-added products[53]. - The group will continue to expand and develop its sales network and platforms to achieve business growth[52]. Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange regulations, with a commitment to maintaining high standards of corporate governance[55]. - The board of directors emphasizes the importance of corporate culture, focusing on ethical and responsible conduct across all levels of the organization[57]. - The company aims to enhance long-term value for shareholders and stakeholders by focusing on financial performance and environmental, social, and governance (ESG) factors for sustainable growth[58]. - The board is responsible for strategic decision-making and overseeing financial performance, ensuring alignment with the company's long-term goals[59]. - The board consists of three executive directors and three independent non-executive directors, ensuring compliance with listing rules regarding independence and expertise[62]. - The company has adopted a "Director Nomination Procedure" to ensure a transparent and thoughtful process for evaluating and selecting board candidates[68]. - The board's composition reflects a balance of skills and experience necessary for effective leadership and governance, particularly in the aerosol industry[65]. - The company is committed to maintaining high standards of corporate governance and compliance with financial reporting regulations[63]. - The board will propose the reappointment of directors who are eligible and willing to stand for re-election at the upcoming annual general meeting[68]. Environmental, Social, and Governance (ESG) Practices - The company is increasingly aware of its ESG responsibilities and is focused on supporting a transition to a low-carbon and sustainable future[58]. - The board's responsibilities include overseeing business operations, strategy development, and ensuring the company's long-term success[66]. - The company has established a clear governance structure for environmental, social, and governance (ESG) matters, with a dedicated ESG working group consisting of 6 members, including 3 executive directors and 3 independent non-executive directors[149]. - The board of directors has spent significant time assessing the impact of ESG-related risks on operations and developing relevant policies to address these risks[148]. - The company is committed to maintaining high environmental management standards, continuously improving its environmental management system, and has achieved certification compliant with ISO 14001:2015[153]. - The company has implemented various measures to enhance employee environmental awareness and promote environmentally friendly work habits[153]. - The company conducts regular stakeholder engagement to understand their expectations and concerns, which informs better decision-making and impact management[144]. - The company engages in community participation and charitable activities to fulfill its social responsibilities[144]. Climate Change and Risk Management - The company is actively addressing climate-related risks as part of its operational strategy, focusing on the physical impacts of climate change, such as extreme weather events, which are considered operational risks[179]. - The company has established a governance framework to identify, assess, and manage climate-related risks, with oversight from the board of directors[191]. - The company collaborates with government and relevant institutions to stay updated on regulatory and financial policy changes related to climate change[191]. - The company has identified significant climate-related risks that could impact its operations, products, supply chain, and financial planning, and has implemented measures to manage these risks[192]. - The company is exploring various climate scenarios to assess potential impacts on its operations and to identify new risks that may arise from future climate changes[189]. - Transition risks include rising operational costs due to stricter environmental regulations and increased insurance premiums, necessitating significant compliance expenditures[197]. - The company plans to invest in energy-efficient product innovation to mitigate technology risks associated with increased capital and R&D expenditures[199]. - The company is monitoring updates on climate-related environmental policies to avoid unnecessary costs and expenditures[197]. Operational Metrics - Total assets as of December 31, 2024, were approximately RMB 1,694,800,000, an increase from RMB 1,389,000,000 in 2023, with a net current liability of approximately RMB 266,400,000[35]. - Inventory increased by approximately 18.5% to about RMB 57,600,000 from RMB 48,600,000 in 2023, primarily due to expanded production capacity[32]. - Accounts receivable as of December 31, 2024, were approximately RMB 90,100,000, an increase of about 24.4% from RMB 72,400,000 in 2023[33]. - The group employed a total of 486 employees as of December 31, 2024, compared to 423 employees in 2023, with total employee costs amounting to approximately RMB 55,000,000, up from RMB 43,800,000 in 2023[43]. - The total air pollutant emissions for 2024 were 630.68 kg of nitrogen oxides, 78.69 kg of sulfur dioxide, and 16.10 kg of particulate matter, showing an increase from 2023[158]. - The total greenhouse gas emissions for 2024 were 5,296.06 tons of CO2 equivalent, a decrease from 6,965.77 tons in 2023[160]. - The total water consumption in 2024 was 401,312 cubic meters, significantly higher than 175,597 cubic meters in 2023, marking an increase of about 128.5%[174]. - The total packaging materials consumed in 2024 amounted to 16,452.35 tons, up from 14,446.55 tons in 2023, which is an increase of approximately 13.9%[176].
中国绿岛科技(02023) - 2024 - 年度财报