Financial Performance - In 2024, the company's revenue decreased by approximately 17.3% to RMB 906.5 million, down from RMB 1,096.4 million in 2023[8] - The company recorded a loss attributable to equity holders of RMB 39.5 million in 2024, compared to a profit of RMB 30.5 million in 2023[8] - The adjusted loss for the year was RMB 37.3 million in 2024, compared to an adjusted profit of RMB 35.5 million in 2023[14] - Gross profit for the year ended December 31, 2024, was RMB 129.5 million, a decrease of approximately 47.0% compared to RMB 244.5 million in 2023, with a gross margin of about 14.3%[26] - The total revenue for the group was RMB 906.5 million for the year ended December 31, 2024, a decrease of approximately 17.3% from RMB 1,096.4 million in 2023[25] Business Segments - Revenue from the internet advertising business fell by approximately 27.6% to RMB 607.4 million in 2024, down from RMB 838.9 million in 2023[16] - The user operation SaaS platform business had a total revenue of RMB 244.5 million for the year ended December 31, 2024, representing a growth of approximately 27.4% compared to RMB 191.9 million in 2023[21] - The total value of new contracts signed (including renewals) for the user operation SaaS platform was approximately RMB 129.4 million in 2024, up from RMB 89.2 million in 2023[15] Customer and Supplier Dynamics - The number of paid customers using the user operation SaaS platform decreased to 631 in 2024 from 693 in 2023, including 199 customers from the financial sector[15] - The group’s top five customers accounted for 52.8% of total revenue, down from 74.0% in 2023, with the largest single customer contributing 17.5% of total revenue, compared to 30.4% in the previous year[56] - The group’s top five suppliers represented 37.3% of total procurement, a decrease from 43.3% in 2023, with the largest single supplier accounting for 16.9% of total procurement, down from 19.1%[57] Assets and Liabilities - The company's total non-current assets increased to RMB 401.5 million in 2024 from RMB 385.4 million in 2023[11] - The total current assets rose to RMB 1,969.2 million in 2024, compared to RMB 1,756.1 million in 2023[11] - The total equity decreased slightly to RMB 1,325.2 million in 2024 from RMB 1,355.0 million in 2023[11] - The company's capital debt ratio as of December 31, 2024, was approximately 35.9%, up from 25.7% in 2023[35] Operational Efficiency - Sales and distribution expenses were RMB 88.4 million for the year ended December 31, 2024, a decrease of approximately 24.9% from RMB 117.7 million in 2023[27] - Administrative expenses decreased to RMB 85.9 million for the year ended December 31, 2024, from RMB 115.8 million in 2023, a reduction of approximately 25.8%[28] - The number of employees in the R&D department increased to 153 as of December 31, 2024, from 144 in 2023, while R&D expenses decreased by approximately 31.0% to RMB 30.9 million[23] Corporate Governance - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, complying with listing rules[135] - The company has established a remuneration committee to review the remuneration policies and structures for all directors and senior management, considering the group's operational performance[79] - The independent non-executive directors play a crucial role in providing impartial opinions on strategic, performance, and control issues[137] Risk Management - The company has established a risk management and internal control policy to identify, assess, and manage operational risks[183] - The board is responsible for evaluating the nature and extent of risks the company is willing to take to achieve strategic objectives[183] - The company is closely monitoring market trends and regulatory developments to mitigate risks associated with its operations[188] Environmental and Social Responsibility - The company has implemented various energy-saving and resource conservation measures, including waste sorting and paperless operations, to minimize resource consumption[63] - The company has complied with relevant environmental laws and regulations, with no known violations during the reporting period[64] - The company aims to enhance gender diversity by creating favorable conditions to attract more female talent, particularly in senior management positions[149] Future Outlook and Strategy - The company plans to enhance team capabilities and invest in R&D, particularly in AI and big data analytics, to improve service quality and efficiency[8] - The company plans to focus on structural optimization of its advertising business and upgrading digital service capabilities to enhance core competitiveness[45] - The management discussion and analysis section provides insights into the business conditions, risks, and outlook for 2025, highlighting key events affecting the group since December 31, 2024[53]
兑吧(01753) - 2024 - 年度财报