Occupancy Rates - As of December 31, 2024, Xinji Shaxi Hotel Supplies Expo City recorded an occupancy rate of 87.9%, up from 82.8% in 2023[15]. - Xinji Haotai Hotel Supplies City achieved an occupancy rate of 91.4% in 2024, down from 95.9% in 2023[16]. - Shenyang Xinji Shaxi Hotel Supplies Expo City reported an occupancy rate of 32.84% in 2024, significantly decreased from 62.1% in 2023[18]. - Xinji Dashi Furniture City had an occupancy rate of 86.03% as of December 31, 2024, compared to 94.9% in 2023[20]. - The occupancy rate for the shopping center was 79.7% in 2024, down from 84.3% in 2023[22]. Rental and Operational Areas - Xinji Shaxi Hotel Supplies Expo City has a total rental area of approximately 62,124.08 square meters, housing 552 tenants[15]. - Xinji Haotai Hotel Supplies City has a total operational area of about 72,203.28 square meters, with 525 tenants[16]. - Shenyang Xinji Shaxi Hotel Supplies Expo City features a total rental area of approximately 58,720.12 square meters[18]. - Xinji Dashi Furniture City has a total operational area of around 24,576.16 square meters, with 44 tenants[20]. Financial Performance - For the fiscal year ending December 31, 2024, the company's core net profit was approximately RMB 73.8 million, a decrease of about RMB 9.0 million or 10.9% compared to RMB 82.8 million in 2023[24]. - The company's revenue for 2024 was approximately RMB 254.8 million, down by about RMB 18.6 million or 6.8% from RMB 273.4 million in 2023[24][31]. - The rental income accounted for 74% of total revenue in 2024, amounting to approximately RMB 188.6 million, a decrease of about RMB 10.8 million or 5.4% from RMB 199.4 million in 2023[32][33]. - Property management service revenue decreased by approximately RMB 3.3 million or 5.5% to about RMB 58.0 million in 2024, compared to RMB 61.3 million in 2023[34]. - Sales revenue from goods dropped by approximately RMB 3.2 million or 28.2% to about RMB 8.1 million in 2024, down from RMB 11.3 million in 2023[35]. Assets and Liabilities - Total assets as of December 31, 2024, were approximately RMB 2,665.2 million, a decrease from RMB 2,934.3 million in 2023[28]. - Total liabilities decreased to approximately RMB 1,491.9 million in 2024 from RMB 1,598.5 million in 2023[28]. - The company reported net current assets of RMB 100.4 million as of December 31, 2024, compared to RMB 144.1 million as of December 31, 2023, with a current ratio of 1.18[54]. Dividends and Share Repurchase - The company does not recommend a final dividend for 2024, consistent with 2023[30]. - The company repurchased 7,056,000 shares at a total cost of approximately HKD 451,912.01 in April 2024[62]. - The company did not declare any final dividend for the year ending December 31, 2024, and no interim dividend was distributed during the year[147]. Management and Governance - The board consists of 9 members, including 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors[75]. - Zhang Hanquan has been the CEO and executive director since July 27, 2018, and is a key figure in the hotel supplies industry[76]. - The company has established good corporate governance policies and practices, focusing on accountability, transparency, and independence[92]. - The independent non-executive directors bring over 30 years of experience in finance and investment, enhancing the board's oversight capabilities[88]. - The company has established an internal communication platform to promote open communication and engagement among employees[99]. Risk Management - The company faces economic and regulatory risks that may impact property rental rates and demand for services, necessitating timely adjustments to align with market conditions[59]. - The company has a structured internal audit function to analyze and independently assess the adequacy and effectiveness of its risk management and internal control systems[131]. - The board is responsible for maintaining a sound risk management system and effective internal controls to protect the group's assets and shareholders' interests[131]. Future Plans and Strategies - The management remains optimistic about sustainable growth and plans to strengthen its competitive advantages and market leadership[25]. - The group will continue to expand its online mall business and establish a vertical e-commerce service platform for the hotel supplies industry to increase market share and brand influence[73]. - The company plans to utilize RMB 63.3 million for the development of new projects, with a timeline extended to 2027 due to the lack of suitable new projects[1]. Employee Information - As of December 31, 2024, the total number of employees in the group was approximately 260, a decrease of 4.4% from 272 in 2023[60]. - Employee benefits expenditure for 2024 was approximately RMB 36.8 million, down from RMB 39.1 million in 2023[60]. Environmental and Social Responsibility - The company has implemented environmental protection measures and encouraged employees to conserve energy and reduce waste[158]. - The company made charitable donations totaling approximately RMB 0.2 million for the year ending December 31, 2024[151].
信基沙溪(03603) - 2024 - 年度财报