Financial Performance - The group recorded total revenue of approximately RMB 84,460,000 for the year ending December 31, 2024, an increase from RMB 74,137,000 in 2023, representing a growth of about 13.9%[4][5] - The profit attributable to the owners of the company for the same period was approximately RMB 4,350,000[4] - The increase in revenue of approximately RMB 10,323,000 from the previous year indicates a positive trend in sales performance[5] - The overall gross profit for the year ending December 31, 2024, was approximately RMB 25,068,000, with a gross profit margin of 29.7%, stable compared to 29.1% for the previous year[13] - The company reported a profit attributable to owners of the company of approximately RMB 4,350,000 for the year ending December 31, 2024, down from RMB 8,521,000 the previous year, primarily due to goodwill impairment related to marine firefighting equipment[20] - Revenue for the year ended December 31, 2024, was RMB 84,460,000, an increase of 13.5% from RMB 74,137,000 in 2023[170] - Gross profit for 2024 was RMB 25,068,000, representing a gross margin of 29.6%, compared to RMB 21,550,000 in 2023[170] - The company reported a net profit of RMB 9,868,000 for 2024, down 13.9% from RMB 11,477,000 in 2023[171] - Basic and diluted earnings per share for 2024 were RMB 2.32, a decrease from RMB 4.55 in 2023[170] Expenses and Costs - Other income and gains decreased from approximately RMB 4,950,000 for the year ending December 31, 2023, to approximately RMB 4,279,000 for the year ending December 31, 2024, primarily due to a reduction in interest income[14] - Selling and distribution expenses increased by approximately 15.7%, from RMB 3,096,000 to about RMB 3,581,000, mainly due to rising transportation and employee costs[15] - Administrative expenses rose by 28.9%, from approximately RMB 11,291,000 to RMB 14,555,000, attributed to increased general administrative costs and legal and professional fees[16] - Financial expenses decreased by approximately 36.4%, from RMB 368,000 to RMB 234,000, mainly due to a decline in interest rates charged by banks[17] - Total administrative expenses increased to RMB 14,555,000 in 2024 from RMB 11,291,000 in 2023, reflecting a rise of 29.9%[170] Assets and Liabilities - As of December 31, 2024, the group's current assets amounted to RMB 178,674,000, resulting in a current ratio of 12.9, an increase from 11.9 as of December 31, 2023[21] - Trade receivables increased by 52.7% to approximately RMB 15,627,000, primarily due to increased sales of aquarium products and marine firefighting equipment[21] - The group's debt-to-equity ratio improved to 16.4% as of December 31, 2024, down from 18.9% as of December 31, 2023, indicating enhanced financial stability[22] - The net asset value of the group was approximately RMB 173,943,000 as of December 31, 2024, compared to RMB 163,024,000 as of December 31, 2023[28] - The company's total liabilities decreased from RMB 30,890,000 to RMB 29,467,000, a reduction of approximately 4.6%[173] Corporate Governance - The company has a board of directors consisting of six members, including three executive directors and three independent non-executive directors, with meetings held seven times in 2024 to discuss strategic and financial matters[42] - The audit committee held five meetings in 2024 to review the consolidated financial statements and discuss the company's financial performance and internal audit matters[48] - The company has adopted the GEM Listing Rules Appendix 15 corporate governance code, ensuring responsible decision-making and transparency in shareholder communications[40] - The company’s management team has been tasked with reviewing internal controls and risk management systems annually to ensure they meet expected goals[44] - The company has ensured compliance with the GEM Listing Rules regarding securities trading by its directors[41] Employee and Labor Relations - The group had 98 employees as of December 31, 2024, an increase from 84 employees in the previous year[29] - Employee turnover rate for the year is 17%, with 28% for males and 3% for females[86] - 50% of executive directors and senior management received training this year, with an average training hours of 20 for both male and female employees[93] - No work-related fatalities have occurred in the past three years, and there were no lost workdays due to occupational injuries[90] - The company provides competitive employment benefits, including discretionary bonuses and medical insurance, to attract and retain talent[85] Environmental, Social, and Governance (ESG) - The company is committed to environmental, social, and governance (ESG) practices, adhering to national regulations and promoting sustainable development[62] - The board of directors actively participates in overseeing ESG matters and has set annual environmental protection goals focused on eco-friendliness and energy conservation[61] - The company has implemented a diversity policy for board members, considering various factors such as gender, age, and professional experience[54] - The company emphasizes resource efficiency and has established a framework to systematically optimize resource usage[75] - The company supports the "3R" waste hierarchy (Reduce, Reuse, Recycle) to minimize waste generation[68] Shareholder Information - As of December 31, 2024, Mr. Zhou Jinhui holds 133,170,000 shares, representing approximately 71.05% of the total issued share capital[137] - The major shareholder, Liancheng Fire Group Co., Ltd., owns 131,870,000 shares, accounting for about 70.36% of the registered share capital[139] - The company has not provided any indemnity provisions for directors' liabilities during the year[134] - The company re-elected its directors on June 30, 2023, with terms lasting until the 2026 annual general meeting[132] Financial Reporting and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and comply with relevant Hong Kong regulations[185] - The company has adopted revised International Financial Reporting Standards, which did not impact its financial position or performance[189] - The group plans to apply the newly issued and amended IFRS standards when they become effective, as applicable[191] - The company adopts the acquisition method for business combinations, measuring the transferred consideration at fair value on the acquisition date[199] - Goodwill is initially measured as the excess of the transferred consideration, recognized non-controlling interest, and the fair value of previously held equity interests over the net identifiable assets acquired[200]
上海青浦消防(08115) - 2024 - 年度财报