Company Overview - Voicecomm Technology Co., Ltd. is set to list its H-shares on July 10, 2024, with a share price of RMB 1.00 per share[5]. - The company plans to hold its annual general meeting on June 20, 2025[5]. - The report period covers the fiscal year ending December 31, 2024[6]. - The company is headquartered in Wuhan, Hubei Province, China, focusing on software development and technology solutions[12]. Governance and Management - The board of directors includes key figures such as Chairman Tang Jinghua and several independent non-executive directors[10]. - The audit committee is chaired by Liang Jiankang, who was appointed on September 4, 2024[10]. - The company has established a strategic and sustainable development committee to enhance its long-term growth strategy[10]. - The company has appointed several independent directors with extensive experience in finance and law to enhance governance[106][110]. - The company is committed to maintaining high standards of corporate governance and oversight through its board of directors[109]. - The company has established a governance framework that includes a clear distinction between the roles of the chairman and the CEO[190]. - The board has a responsibility to guide and supervise the company's affairs, ensuring effective risk management and internal control systems[187]. - The company has committed to enhancing its corporate governance practices to ensure compliance with legal and professional standards[180]. Financial Performance - The company achieved a revenue of RMB 941.4 million in 2024, representing a year-on-year growth of 15.8%[19]. - Gross profit for 2024 was RMB 510.4 million, with a year-on-year increase of 56.9%, resulting in a gross margin of 54.2%, up 14.2 percentage points[19]. - Adjusted net profit reached RMB 151.4 million, reflecting a year-on-year growth of 28.6% and an adjusted net profit margin of 16.1%, up 1.6 percentage points[19]. - The company's total assets grew to RMB 2,395.3 million in 2024, up from RMB 1,380.1 million in 2023[16]. - Total liabilities decreased to RMB 794.6 million in 2024 from RMB 1,372.6 million in 2023, indicating improved financial stability[16]. - The company's annual loss increased from RMB 29.2 million in 2023 to RMB 481.5 million in 2024, primarily due to changes in the redeemable capital's carrying value[73]. - The company reported a significant increase in trade receivables impairment losses, which rose by 119.0% from RMB 55.4 million in 2023 to RMB 121.3 million in 2024[49]. Market Expansion and Strategy - The company aims to leverage advancements in AI and IoT technologies to expand its market presence[6]. - The company has plans for future product development and market expansion, focusing on innovative technology solutions[6]. - The company plans to expand its market presence in the ASEAN region, focusing on Malaysia and later the Middle East, particularly the UAE, Saudi Arabia, and Oman[48]. - The company is actively exploring diversified business opportunities, leading to a 139.3% increase in revenue from other industries, from RMB 30.2 million in 2023 to RMB 72.3 million in 2024[57]. - The company aims to establish a second growth curve by expanding horizontally into new application scenarios in energy management and health sectors, leveraging its technological and market experience[41]. Research and Development - Research and development expenses rose by 35.4% from RMB 98.8 million in 2023 to RMB 133.7 million in 2024[49]. - The company is investing in research and development, allocating $HH million towards new technology initiatives aimed at improving operational efficiency[101]. - The company is focused on enhancing interactive artificial intelligence technology, aiming to develop mature and commercially valuable products and solutions in 2024[127]. Strategic Partnerships and Collaborations - The company has signed a strategic cooperation framework agreement with Meigaoyu Group to provide comprehensive IT infrastructure solutions and services in the China and Hong Kong markets[27]. - The company has entered into a strategic cooperation agreement with China State Construction First Engineering Group to participate in industrial park construction projects in Shanghai, Wuhan, and Malaysia, ensuring high-quality construction services[40]. - The company has signed a memorandum of cooperation with Qinghai Water Resources and Hydropower Group to collaborate in smart water management, clean energy, AI, and big data industries, aiming to create a new platform and ecosystem for smart water services[39]. Corporate Social Responsibility and Sustainability - The company is focusing on sustainability initiatives, with plans to reduce operational costs by JJ% through eco-friendly practices[103]. - The company has not faced significant environmental risks and has not incurred fines or penalties for violating environmental regulations during the reporting period[134]. Shareholder Information - The company will no longer have a supervisory board, with all supervisors resigning effective January 13, 2025[114]. - The board consists of 2 executive directors, 4 non-executive directors, and 3 independent non-executive directors as of August 1, 2024, following the resignation of an independent non-executive director[188]. - The company has maintained a sufficient public float, with at least 25% of its issued shares held by the public[154]. Audit and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, and believes they fairly reflect the financial position and performance of the group[178]. - The audit committee consists of three members, ensuring proper oversight of financial reporting and internal controls[178]. - The company has implemented a whistleblowing policy to allow employees to report concerns regarding financial reporting and internal controls confidentially[198].
声通科技(02495) - 2024 - 年度财报