Financial Performance - The company's total revenue for the year ended December 31, 2024, was approximately RMB 266.7 million, an increase of about 50.1% compared to RMB 177.7 million in 2023[7]. - The ODM product segment generated revenue of approximately RMB 230.8 million, while the brand product segment contributed about RMB 35.9 million[7]. - The company recorded a loss attributable to owners of approximately RMB 16.7 million, an improvement from a loss of RMB 45.3 million in 2023[7]. - Gross profit for the reporting period was approximately RMB 78.9 million, an increase of about RMB 37.2 million or approximately 89.2% compared to RMB 41.7 million in the same period last year, with gross margin rising from 23.5% to 29.6%[16]. - Other income and gains amounted to approximately RMB 20.8 million, an increase of about RMB 2.1 million or approximately 11.2% from RMB 18.7 million in the previous year[18]. - The group recorded a loss attributable to ordinary equity holders of approximately RMB 16.7 million, a reduction of 63.1% from a loss of RMB 45.3 million in the same period last year[25]. - The company's return on equity (ROE) for 2024 is projected to be 4.7%, an improvement from -14.5% in 2023[6]. Retail Network and Operations - The company's retail network included 105 self-operated retail stores and 11 franchise stores as of December 31, 2024, after opening 14 new stores and closing 22 loss-making stores during the year[8]. - The group aims to maintain a minimum of 100 directly operated stores and will close underperforming stores[15]. - The company operates a retail network of 105 stores across 13 provinces, municipalities, and autonomous regions in China as of December 31, 2024[104]. Employee and Workforce - The company employed 777 full-time staff as of December 31, 2024, an increase from 607 staff in 2023[12]. - The overall employee turnover rate for 2024 was 71%, with male turnover at 83% and female turnover at 61%[159]. - The turnover rate for employees aged 30 or below was 120%, while it was 52% for those aged 31-50 and 73% for those aged 51 and above[159]. - All employees received training during the reporting period, with 100% participation among male employees and 96% among female employees[167]. - The average training hours for male employees were 20 hours, while female employees received an average of 17 hours of training[167]. - As of December 31, 2024, the company employed a total of 777 full-time employees, with a gender distribution of 322 males and 455 females[159]. Research and Development - Research and development expenses for product design and development were approximately RMB 18.3 million, compared to RMB 17.1 million in 2023[10]. - The company has a strong focus on research and development in the intimate apparel industry, with key personnel having extensive experience in production and quality control[57]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as per the Listing Rules to ensure proper regulation of business activities and decision-making processes[60]. - The board currently consists of seven members, including two executive directors, two non-executive directors, and three independent non-executive directors[62]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[60]. - The company has established appropriate director liability insurance to cover responsibilities incurred by board members during company activities[72]. - The board is responsible for the overall development strategy and monitoring the operational and financial performance of the group[68]. Environmental, Social, and Governance (ESG) Initiatives - The group published its sixth Environmental, Social, and Governance (ESG) report, demonstrating commitment to corporate social responsibility and sustainable development[105]. - The report adheres to the Hong Kong Stock Exchange's ESG reporting guidelines, ensuring compliance with mandatory disclosure requirements[107]. - The group emphasizes the importance of stakeholder feedback and conducts internal assessments to identify significant sustainability issues[110]. - The company is actively researching the feasibility of sustainable development in equipment and technology while producing seamless and traditional intimate apparel[119]. - The company aims to increase the proportion of clothing production that meets green low-carbon requirements through the application of green fibers, energy-saving dyeing, and recycling of waste fibers[119]. Supply Chain Management - The group collaborated closely with 241 suppliers, with 238 from mainland China, 1 from Hong Kong, and 2 from other countries[149]. - A total of 17 major suppliers were evaluated during the reporting period to ensure quality of raw materials[152]. - The group has established a comprehensive supplier management system, including annual assessments based on procurement and material management standards[152]. - The group emphasizes sustainable supply chain management, prioritizing suppliers that comply with local environmental policies[151]. Health and Safety - The company maintains a zero fatality rate in workplace incidents over the past three years, with only 40 workdays lost due to injuries during the reporting period[165]. - The company has established an Environmental, Health, and Safety (EHS) team to continuously improve occupational health and safety systems[165]. - The company strictly adheres to labor laws and regulations, ensuring no instances of child or forced labor were reported during the reporting period[160]. Environmental Impact - Total non-hazardous waste decreased to 137.5 tons in 2024 from 140.3 tons in 2023, achieving a density of 0.52 tons per million RMB revenue[174]. - Total greenhouse gas emissions rose to 6,123.93 tons CO2 equivalent in 2024 from 4,161.94 tons in 2023, with a density of 22.96 tons CO2 equivalent per million RMB revenue[180]. - The company has implemented various waste reduction measures, including recycling initiatives and promoting digital communication to minimize paper usage[174]. - The company has achieved ISO 14001:2015 environmental management system certification, ensuring compliance with national standards[172].
博尼控股(01906) - 2024 - 年度财报