Financial Performance - As of December 31, 2024, Anhui Sihai reported total assets of approximately RMB 119 million and liabilities of about RMB 70.43 million, with equity attributable to owners of approximately RMB 48.8 million[14]. - The revenue generated during the same period was approximately RMB 158 million, resulting in an operating loss of RMB 1.3 million[14]. - The total revenue for the group in 2024 was RMB 442 million, representing a year-on-year growth of 38.2%[15]. - The new business segments, liquor sales and education/training services, performed exceptionally well, with liquor sales revenue reaching RMB 102 million, a year-on-year increase of 95.3%, and education/training services revenue reaching RMB 67.91 million, a year-on-year increase of 146.2%[15]. - Anhui Sihai's assets grew by 27.67% year-on-year, but its revenue only increased by 2.22%, and its profit decreased by 169.05% due to asset impairment losses[15]. - The assets of Anhui Sihai accounted for 20% of the group's total assets, while its revenue contributed 35.78% to the group's total revenue, but its profit only represented 0.05% of the group's total profitability[15]. Legal Matters - The court issued an asset preservation order on November 5, 2024, freezing the 65% equity stake in Anhui Sihai held by Yangzhou Huayin Commercial Chain, valued at RMB 32.5 million[3]. - The board found no factual or legal basis for the claims made by Nanjing Haihuaitong regarding the zero-cost transfer of the 65% equity stake[5]. - Nanjing Haihuaitong's lawsuit was dismissed by the court on April 18, 2025, rejecting all claims made against Yangzhou Huayin Commercial Chain[10]. - The ongoing litigation with Huainan Jianle involves a claim for RMB 61.08 million, with potential implications for the pledged equity in Anhui Sihai[12]. - The company intends to apply to the court to lift the restrictions on the 65% equity stake in Anhui Sihai following the court's supportive ruling[10]. - The group is committed to updating any developments regarding the Haihui Tong lawsuit and Huainan Jianle lawsuit[16]. Corporate Governance - The transfer of rights and obligations included the assumption of significant debts by Yangzhou Huayin Commercial Chain, which the board believes does not harm creditor interests[5]. - The estimated payment obligation under the supplementary agreement related to Anhui Sihai's 65% equity stake is approximately RMB 53.56 million, subject to final negotiations with Mr. Jin[11]. - The board of directors includes four executive directors and three independent non-executive directors, ensuring a diverse governance structure[17]. Asset Management - Anhui Sihai continues to operate normally, and the asset preservation order has not significantly impacted the company's business operations or financial condition[14]. - The potential sale of 65% of Anhui Sihai's equity would not affect the company's equity structure, business operations, assets, or liabilities significantly[15]. - The net asset value of Anhui Sihai was reported as (RMB 40,583,155), with non-controlling interests at RMB 14,204,104 and other current liabilities at RMB 53,560,000[15]. - The estimated proceeds from the potential sale of Anhui Sihai were RMB 27,180,950, leading to a post-sale net asset value of RMB 223,227,982[15].
奇点国际(01280) - 2024 - 年度业绩