Financial Performance - The company reported a consolidated revenue of approximately RMB 716 million for the fiscal year ending December 31, 2024, a decrease of 7.6% compared to RMB 775 million in 2023[5]. - Revenue from the marble stone products business was approximately RMB 27 million, a significant decline of 75.8% from RMB 113 million in the previous year, primarily due to weak market demand in the real estate sector[10]. - The calcium carbonate business contributed approximately RMB 675 million in revenue, an increase of about RMB 22 million (or 3.3%) from RMB 653 million in 2023[10]. - The group's operating revenue for 2024 was approximately RMB 71.6 million, a decrease of about RMB 5.9 million (or 7.6%) compared to 2023[13]. - Total sales cost for 2024 was approximately RMB 60.4 million, a decrease of RMB 7.1 million from RMB 67.5 million in 2023, primarily due to reduced production and sales of marble products[15]. - Gross profit for 2024 was approximately RMB 11.2 million, with a gross profit margin of 15.7%, up from 13.0% in 2023[16]. - Other income and gains increased to approximately RMB 9.9 million in 2024 from RMB 5.2 million in 2023, mainly due to a one-time gain from loan restructuring[17]. - The company reported a net loss of RMB 285,206,000 for the year, a significant improvement from a loss of RMB 396,220,000 in 2023, representing a reduction of 28.1%[177]. - The company's total equity decreased to RMB 600,704,000 from RMB 856,660,000, a decline of 30.0%[179]. Capital and Financing - The company raised approximately HKD 12.2 million from the issuance of 61,720,000 new shares at HKD 0.20 per share on January 26, 2024, and approximately HKD 22.2 million from the placement of 197,500,000 new shares at HKD 0.1140 per share on September 27, 2024[6]. - The company plans to use approximately HKD 110 million from the proceeds of the rights issue for repaying loans and other payables, with about HKD 11.15 million allocated for general working capital[38]. - Total bank and other borrowings decreased to approximately RMB 225.5 million in 2024 from RMB 337.8 million in 2023, a reduction of RMB 112.3 million due to financing activities and improved cash flow[32]. - The company raised RMB 28,702,000 through share issuance in 2024, a decrease from RMB 123,146,000 in 2023[183]. Operational Strategy - The company plans to explore opportunities in the artificial intelligence (AI) sector as part of its diversification strategy[6]. - The company is seeking to monetize non-core assets, such as its warehousing and logistics business, to improve liquidity and reduce debt[6]. - The company has adopted a cautious approach, focusing on supporting sales and managing inventory levels effectively amid ongoing economic challenges[9]. - The company has implemented prudent strategies, including tightening credit terms and postponing significant investments until the economic outlook improves[5]. Corporate Governance - The company has maintained high levels of corporate governance to protect shareholder interests and enhance corporate value, accountability, and transparency[69]. - The company has complied with the corporate governance code except for specific deviations noted[69]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2024[72]. - The company has adopted a board diversity policy, considering measurable aspects such as gender, age, cultural and educational background, and professional experience[78]. - The company emphasizes ethical and responsible conduct as part of its corporate values, promoting a culture of integrity among all directors[70]. Risk Management - The company has established a comprehensive internal control framework applicable to all operating units to manage significant risks[105]. - The board regularly reviews the effectiveness of the risk management and internal control systems with the assistance of the audit committee[105]. - The group has identified key risks, including potential changes in consumer preferences that may affect the market acceptance of its marble products[111]. Shareholder Information - The group has reserves available for distribution to shareholders amounting to approximately RMB 496.4 million as of December 31, 2024, down from RMB 597.1 million in 2023[124]. - The group has not declared any final dividends for the year ending December 31, 2024, compared to no dividends declared in 2023[120]. - The company has maintained a sufficient public float of over 25% of the total issued share capital as required by listing rules[157]. Subsidiaries and Investments - The company has 100% ownership in several subsidiaries, including 雅高珺奇 (Xiamen) and 江西科越科技, focusing on mining machinery import/export and calcium carbonate production respectively[187]. - The registered capital of 贵州德江三鑫石材 is RMB 20 million, with an 80% ownership stake, focusing on marble mining and processing[187]. - The company has a significant presence in the mining and construction materials sector, with multiple subsidiaries contributing to its overall asset base[188]. Compliance and Reporting - The company has applied revised International Financial Reporting Standards (IFRS) for the first time in 2024, including IFRS 16 regarding lease liabilities[193]. - The financial statements are prepared based on historical cost principles, with values rounded to the nearest thousand RMB[189]. - The independent auditor's report is included in pages 43 to 47 of the financial statements[95].
雅高控股(03313) - 2024 - 年度财报