Financial Performance - The total revenue for the fiscal year 2024 was approximately RMB 112.0 million, a decrease of about RMB 79.0 million or 41.4% compared to RMB 190.9 million in fiscal year 2023[14] - The gross profit fell from approximately RMB 17.6 million in fiscal year 2023 to about RMB 3.3 million in fiscal year 2024, a decrease of approximately RMB 14.3 million or 81.5%[14] - The gross profit margin decreased from approximately 9.2% in fiscal year 2023 to about 2.9% in fiscal year 2024[14] - The net loss attributable to shareholders for fiscal year 2024 was approximately RMB 9.5 million, compared to a loss of about RMB 2.6 million in fiscal year 2023[14] - The total loss and comprehensive loss increased from approximately RMB 2.6 million in FY2023 to about RMB 9.5 million in FY2024, an increase of approximately RMB 6.9 million or 270.7%[30] Cost Management - Sales costs decreased from approximately RMB 173.3 million in fiscal year 2023 to about RMB 108.7 million in fiscal year 2024, a reduction of approximately RMB 64.6 million or 37.3%[21] - Sales expenses decreased from approximately RMB 8.2 million in FY2023 to about RMB 5.2 million in FY2024, primarily due to reduced shipping costs resulting from lower sales volume[23] - Administrative expenses decreased from approximately RMB 17.7 million in FY2023 to about RMB 13.4 million in FY2024, mainly due to a reduction in travel and entertainment expenses by approximately RMB 1.2 million and a decrease in R&D expenses by approximately RMB 2.3 million[24] - Employee costs for FY2024 are approximately RMB 10.5 million, down from RMB 12.4 million in FY2023, reflecting a reduction in workforce from 113 to 83 employees[45] Market Outlook - The decrease in orders from major customers was attributed to a gap between expired contracts and newly acquired contracts[20] - The company anticipates stable demand for tobacco products despite government anti-smoking policies, with an expected increase in demand for mid-to-high-end cigarettes due to rising purchasing power[15] Strategic Plans - The company plans to continue optimizing and managing resources to seize long-term growth opportunities in the market[15] - The company will leverage its expertise to formulate effective strategies aimed at increasing market share[15] Asset Management - The company recorded long-term asset impairment provisions during fiscal year 2024, impacting financial performance significantly[17] - Capital expenditures for FY2024 amounted to approximately RMB 3.7 million, a significant decrease from approximately RMB 22.4 million in FY2023, primarily due to purchases of property, plant, and equipment[36] - The group had no capital commitments as of December 31, 2024, compared to approximately RMB 1.9 million as of December 31, 2023[37] Corporate Governance - The company adheres to high standards of corporate governance and has complied with all applicable provisions of the corporate governance code as of December 31, 2024[63] - The company has adopted the standard code for securities trading by directors, confirming compliance for the year ending December 31, 2024[64] - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[66] - The company held two board meetings during the fiscal year ending December 31, 2024, with all directors attending both meetings[70] - The company has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with listing rules[73] Diversity and Inclusion - The gender ratio of employees, including senior management, is approximately 57:26 as of December 31, 2024, indicating a commitment to gender diversity[84] - The board has adopted a diversity policy, ensuring at least one female member and plans to increase this number over the next five years[83] - The company is committed to equal opportunity, diversity, and anti-discrimination principles in its workplace[139] Environmental Sustainability - The company emphasizes environmental sustainability in its operations, integrating this principle into various aspects of its business[143] - The board has committed to integrating environmental sustainability into the company's daily operations and business strategy[200] Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[119] - The company encourages shareholders to provide updated contact information for timely communication[125] - The company’s website serves as a channel for effective communication with shareholders, providing regular updates and information[125] Audit and Compliance - The audit committee is responsible for reviewing the integrity of financial statements and the effectiveness of risk management and internal control systems[91] - The company has engaged a compliance advisor to ensure adherence to listing rules[110] Future Developments - Future business developments are discussed in the management discussion and analysis section of the annual report[141] - The company’s main business remains unchanged, focusing on investment holding and the manufacturing and sales of cigarette packaging paper in China[136]
伟立控股(02372) - 2024 - 年度财报