Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue decreased to RMB 185.332 million, down 24.4% from RMB 245.031 million in 2023[9] - The gross profit for 2024 was RMB 18.357 million, representing a gross margin of 9.9%, compared to RMB 33.092 million and a gross margin of 13.5% in 2023[9] - The company reported a net loss of RMB 11.020 million for 2024, an improvement from a net loss of RMB 17.637 million in 2023[9] - Revenue decreased from approximately RMB 245,000,000 for the year ended December 31, 2023, to approximately RMB 185,300,000 for the year ended December 31, 2024, representing a decline of about RMB 59,700,000 or approximately 24.4%[25] - Gross profit fell from approximately RMB 33,100,000 for the year ended December 31, 2023, to approximately RMB 18,400,000 for the year ended December 31, 2024, a decrease of about RMB 14,700,000 or approximately 44.4%[26] - The company reported a loss of approximately RMB 11,000,000 for the year ended December 31, 2024, down from a loss of approximately RMB 17,600,000 for the year ended December 31, 2023, a reduction of about RMB 6,600,000 or approximately 37.5%[29] Assets and Equity - Total assets decreased to RMB 280.530 million in 2024, down from RMB 289.379 million in 2023[10] - The company's total equity attributable to owners decreased to RMB 195.947 million in 2024 from RMB 207.060 million in 2023[10] - Non-current assets increased slightly to RMB 126.855 million in 2024 from RMB 123.195 million in 2023[10] Cost and Expenses - Gross margin decreased from approximately 13.5% to approximately 9.9%, a decline of about 3.6% due to rising raw material and labor costs[26] - Sales and marketing expenses decreased from approximately RMB 4,000,000 for the year ended December 31, 2023, to approximately RMB 3,500,000 for the year ended December 31, 2024, a reduction of about RMB 500,000 or approximately 12.5%[27] - Administrative expenses decreased from approximately RMB 33,700,000 for the year ended December 31, 2023, to approximately RMB 30,700,000 for the year ended December 31, 2024, a decrease of about RMB 3,000,000 or approximately 8.9%[28] Strategic Partnerships and Market Outlook - The company established a strategic cooperation agreement with Anhui Conch Cement Co., Ltd. to secure a stable procurement channel for cement products, which is expected to alleviate current cost pressures[15] - The company anticipates a recovery in product demand due to the resumption of civil engineering projects and significant infrastructure initiatives in the Nantong area[17] - The company is optimistic about future growth opportunities in the Shanghai region following the strategic partnership with Conch Cement[15] Employment and Workforce - The company employed 49 full-time employees and 127 outsourced workers as of December 31, 2024, compared to 58 full-time employees and 82 outsourced workers as of December 31, 2023[31] Risk Management - The board of directors has identified various risks and uncertainties that may impact the company's financial condition and operational performance[68] - Market risk is a significant concern, influenced by fluctuations in market prices such as exchange rates, interest rates, and stock prices[69] - The company’s management actively monitors and manages these risks to ensure timely and effective responses[69] Corporate Governance - The board consists of seven members, including three executive directors and three independent non-executive directors, ensuring a diverse governance structure[171] - The company has adopted the corporate governance code and has been compliant with its provisions throughout the year ending December 31, 2024[163] - The board is committed to maintaining high corporate governance standards and will continue to review and improve governance practices[167] Share Capital and Stock Options - As of December 31, 2024, the company has issued a total of 400,000,000 shares[105] - The maximum number of shares that can be issued under the share option plan is capped at 10% of the total issued shares as of the listing date, which amounts to 40,000,000 shares[115] - The share option plan aims to incentivize eligible individuals to enhance their performance and efficiency within the group[112] Compliance and Legal Matters - The group has established compliance procedures to adhere to applicable laws and regulations, with no significant violations reported as of December 31, 2024[90] - The audit committee reviewed the group's financial statements for the year ending December 31, 2024, ensuring compliance with applicable financial reporting standards[155] - There were no significant legal proceedings or arbitration involving the company or its subsidiaries as of December 31, 2024[153] Environmental and Social Responsibility - The group emphasizes the importance of environmental protection and has implemented measures to reduce energy consumption and waste generation[89] - The group made charitable donations amounting to RMB 3,000 for the year ending December 31, 2024, compared to RMB 6,000 in 2023[150]
泰林科建(06193) - 2024 - 年度财报