Financial Performance - The company recorded revenue of approximately RMB 236.17 million for the year ended December 31, 2024, a decrease of about 18.7% compared to RMB 290.62 million for the year ended December 31, 2023[5]. - The net loss attributable to equity shareholders for the year was approximately RMB 22.0 million, a decline of about 158.67% from a profit of RMB 37.5 million in the previous year[5]. - The company reported a pre-tax loss of RMB 30.38 million for the year, compared to a profit of RMB 67.99 million in the previous year, reflecting a change of 144.7%[10]. - The company reported a net loss of approximately RMB 33.87 million for the fiscal year 2024, a decline of about 158.5% from a net profit of RMB 57.9 million in 2023[18]. - The gross profit for the fiscal year 2024 was RMB 83.76 million, down RMB 40.55 million or 32.62% from RMB 124.31 million in 2023, with a gross margin of 35%[17]. - The average selling price of aggregate products decreased by 16.06% from RMB 55.4 per ton in 2023 to RMB 46.5 per ton in 2024[15]. - The sales revenue from ready-mixed concrete dropped by 69.27% from RMB 64.78 million in 2023 to RMB 19.91 million in 2024, due to a 64.71% decrease in sales volume[36]. - Other income for the year ended December 31, 2024, was approximately RMB 7.55 million, a decrease of about 58.13% compared to RMB 18.03 million in 2023, primarily due to a reduction in government subsidies and foreign exchange gains[43]. Production and Sales - The company sold approximately 4.63 million tons of aggregate products in 2024, an increase of about 18.85% from 3.90 million tons in 2023[5]. - The total production of aggregate products for the fiscal year 2024 was 4.63 million tons, an increase of approximately 18.85% from 3.90 million tons in 2023[14]. - The sales volume of ready-mixed concrete dropped by 64.71%, from 172.3 thousand cubic meters in 2023 to 60.8 thousand cubic meters in 2024[15]. - The company signed key customer agreements to sell at least 1.2 million tons of aggregate products within a year, indicating a strategic focus on expanding sales channels[24]. Assets and Liabilities - Total assets increased by 3.86% to RMB 2,475.04 million in 2024, compared to RMB 2,383.01 million in 2023[10]. - Total liabilities rose by 3.18% to RMB 1,771.25 million in 2024, compared to RMB 1,716.67 million in 2023[10]. - The company's total assets as of December 31, 2024, were RMB 2,475.04 million, an increase from RMB 2,383.01 million in 2023[11]. - The total liabilities as of December 31, 2024, were RMB 1,771.25 million, slightly up from RMB 1,716.67 million in 2023[11]. Future Plans and Strategies - The company plans to increase production capacity to achieve an annual output of 6 million tons of aggregate products in 2025[6]. - The company aims to explore new sales customers and potential acquisitions to expand its asset scale and increase revenue[7]. - The group plans to increase aggregate product output to 6 million tons in 2025, with a gradual increase in production capacity in subsequent years[71]. - The group intends to pursue acquisitions of potential entities aligned with its development strategy to expand asset scale and increase revenue starting in 2025[71]. Governance and Management - The company is focused on enhancing its governance structure with experienced board members and management team[88]. - The company aims to expand its market presence and improve operational efficiency through strategic appointments and oversight[88]. - The company is committed to maintaining high standards of corporate governance and compliance in its operations[88]. - The board of directors consists of a balanced mix of executive and independent non-executive directors, with at least three independent non-executive directors, fulfilling the requirement of more than one-third of the board[107]. - The company has established clear guidelines for the allocation of functions between the board and management, retaining decision-making authority on significant matters such as policies, strategies, and financial reporting[110]. Environmental and Social Responsibility - The company is committed to low-carbon development and sustainable practices, with a vision to control greenhouse gas emissions and resource consumption[177]. - The company's greenhouse gas emission intensity was 2,464.07 tons of CO2 equivalent per million tons of production, an increase of 14.87% compared to 2023[178]. - Water consumption intensity was 31,552.22 cubic meters per million tons of production, a decrease of 41.71% compared to 2023, due to improved water resource management[178]. - The company aims to reduce greenhouse gas emission intensity to 1,170 tons of CO2 equivalent per million tons of production by 2030[179]. - The company has established a governance framework for environmental, social, and governance (ESG) matters, with a dedicated committee to oversee its implementation[171]. Compliance and Risk Management - The company has established a comprehensive ethical and regulatory compliance system to mitigate risks related to internal fraud and commercial bribery[182]. - The company has implemented a risk management mechanism to ensure compliance with labor regulations, prohibiting forced labor and child labor[198]. - The board is responsible for overseeing the implementation and management of the risk management and internal control systems, which are reviewed annually[152]. - The company has a zero-tolerance policy towards corruption, including bribery and fraud, and has implemented regular anti-corruption training for employees[154]. Employee and Workplace Diversity - The company employed a total of 166 employees as of December 31, 2024, an increase of 15 from 2023 due to the launch of a new project[132]. - The gender ratio among employees was 92:8, with 152 male employees and 14 female employees, indicating a significant decline in female representation[132]. - The company is committed to fair hiring practices and does not discriminate based on gender, race, age, nationality, or ethnicity[132]. - The company has established a diversity policy for the board of directors, focusing on gender, age, professional experience, and tenure, with measurable targets to be reviewed at least annually[133].
淮北绿金股份(02450) - 2024 - 年度财报