Financial Performance - In 2024, UJU Holding Limited achieved total revenue of approximately RMB 9.1533 billion, representing a growth of about 29.4% compared to approximately RMB 7.076 billion in 2023[11] - The net profit for the year increased by approximately 2.2% to around RMB 93 million, up from approximately RMB 91 million in the previous year[11] - The advertising business recorded a total billing of approximately RMB 12.9763 billion, with a growing proportion from direct advertisers, enhancing operational efficiency and financial stability[11] - Revenue for the year ending December 31, 2024, was RMB 9,153.3 million, representing a year-on-year increase of 29.4% from RMB 7,076.0 million in 2023[21] - The company's pre-tax profit decreased by 3.4% to RMB 113.3 million in 2024 from RMB 117.2 million in 2023[21] - The revenue from online marketing solutions increased by approximately 29.6% to RMB 9,082.5 million in 2024, accounting for 99.2% of total revenue[26] - The live e-commerce business generated revenue of RMB 68.1 million in 2024, up from RMB 61.9 million in 2023, continuing to serve as a second growth curve for the company[26] - The company achieved a profit attributable to owners of the company of RMB 93.9 million for the year ending December 31, 2024, a 3.7% increase from RMB 90.6 million in 2023[21] Strategic Initiatives - The company established a three-pronged strategy of "technology x content x data" to drive digital marketing transformation, significantly improving the automation rate of core business processes[12] - UJU Holding Limited upgraded its video base in Wuhan to a service delivery center and talent training base, leveraging local educational resources for high-quality talent[12] - The company developed differentiated content generation engines for various industries, reducing content production cycles by 57%[15] - UJU Holding Limited aims to build a customer demand forecasting model and a creative effect pre-evaluation system to optimize resource allocation[15] - UJU Holding Limited plans to deepen the synergy of "technology x industry x data" to drive customer value enhancement and promote innovation in the digital marketing sector[15] - The company successfully expanded its self-operated e-commerce model into the North American market, enhancing its operational solutions through partnerships with platforms like TikTok[18] - The company plans to decisively adjust its e-commerce operational solutions business and explore expansion into the B2B sector in the second half of 2024[18] Operational Efficiency - User acquisition and monitoring costs for the year ended December 31, 2024, were approximately RMB 8,712.3 million, representing 98.3% of total service and sales costs[33] - Gross profit for the year ended December 31, 2024, was approximately RMB 287.7 million, a slight increase of 0.6% from RMB 286.0 million for the year ended December 31, 2023, with a gross margin decrease from 4.0% to 3.1%[34] - Sales expenses increased by approximately 10.9% to RMB 33.9 million for the year ended December 31, 2024, primarily due to increased employee benefits[35] - General and administrative expenses rose by approximately 11.8% to RMB 82.8 million for the year ended December 31, 2024, driven by higher employee benefits and professional service fees[38] - Research and development expenses increased by approximately 9.4% to RMB 9.6 million for the year ended December 31, 2024, mainly due to higher employee benefits[39] - Net impairment losses on financial assets decreased by approximately 34.7% to RMB 30.0 million for the year ended December 31, 2024, due to effective credit risk management[40] - Other income decreased by approximately 39.7% to RMB 2.5 million for the year ended December 31, 2024, primarily due to reduced government subsidies[41] - Net financial costs decreased by approximately 72.6% to RMB 2.3 million for the year ended December 31, 2024, attributed to increased interest income from bank deposits[42] Corporate Governance - The company has appointed Mr. Li Nian as Co-CEO effective February 28, 2025, bringing 14 years of experience in the media advertising industry[66] - The board has committed to high standards of corporate governance, ensuring compliance with the Corporate Governance Code, with a focus on transparency and accountability[71] - The company has maintained compliance with the listing rules regarding the appointment of independent non-executive directors, with at least three independent directors on the board[77] - The board currently consists of a balanced mix of executive and independent non-executive directors, ensuring effective oversight and independent judgment in decision-making[76] - The company has implemented a formal service agreement for all directors, with a term of three years and eligibility for re-election[74] - The company has adopted a code of conduct for securities trading, ensuring all directors comply with the established standards[73] - The company will continue to review and monitor its corporate governance practices to meet increasing regulatory requirements and shareholder expectations[72] - The company has confirmed that all independent non-executive directors meet the independence criteria as per the listing rules[77] - The company has experienced changes in its board composition, with new independent directors appointed on October 8, 2024[76] - The company emphasizes the importance of separating the roles of Chairman and CEO, with Mr. Peng Liang serving as both since March 28, 2024, due to his extensive operational experience[71] Risk Management and Compliance - The company has established an effective risk management and internal control system, which is reviewed annually[117] - The internal control system aims to ensure operational effectiveness, financial statement reliability, and compliance with applicable laws and regulations[120] - The company has not established an internal audit department, as the board believes that management's close involvement in daily operations provides sufficient risk management and internal control[121] - The board is responsible for ensuring that financial statements are prepared in accordance with statutory requirements and applicable accounting standards[116] - The company has implemented measures to ensure the confidentiality of potential inside information and compliance with disclosure regulations[120] - The risk management system includes risk identification, assessment, and management strategies to mitigate operational risks[118] - The independent auditor's fees for the year ending December 31, 2024, total RMB 2,620,000, with RMB 2,450,000 for audit services and RMB 170,000 for non-audit services related to environmental, social, and governance reporting[124] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes its commitment to ESG management, integrating it into daily operations and promoting green practices[145] - The board regularly reviews the progress of environmental and social goals, ensuring alignment with business objectives[144] - The company has established an ESG working committee for daily management and reporting to the board[143] - The company adheres to the ESG Reporting Guidelines, ensuring the accuracy and reliability of disclosed data[141] - Stakeholder engagement is prioritized, with various communication channels established to gather feedback and assess ESG performance[146] - The company has identified key ESG issues through stakeholder communication and macro policy trends, creating an importance assessment matrix[150] - The company implements energy-saving measures and emission control to promote low-carbon development and enhance employee environmental awareness[151] - The company has set specific environmental and social targets linked to its business operations[144] Employee Management and Development - Total number of employees is 826, with 699 under labor contracts and 127 interns[167] - Employee turnover rate is 16.90%, with male turnover at 17.76% and female turnover at 16.30%[167] - The company has not experienced any work-related fatalities from 2021 to 2024, with zero incidents reported[170] - The company provides comprehensive benefits, including social insurance and housing fund contributions for all employees[169] - The company has implemented a systematic training program covering management systems, company culture, and job-specific skills[173] - The company has a diverse recruitment strategy, ensuring fair treatment regardless of race, age, gender, or other factors[166] - The company has established a clear promotion pathway with two tracks: professional (P series) and management (M series)[171] - The company has a comprehensive overtime management system to protect employee rights[169] Product Quality and Customer Service - The company has established a comprehensive internal review mechanism to ensure product content compliance and safety[184] - The company has implemented a strict product quality management system to adhere to national regulations and protect intellectual property[181] - The company focuses on continuous product quality optimization and innovation in online short video marketing solutions[180] - An emergency response mechanism is in place to address sudden public relations issues and platform failures[185] - The company provides targeted training plans for management trainees to foster talent development and integration into company culture[177] - The company has established an online short video research center to study the structure, elements, and consumer profiles of popular online short videos, aiming to develop high-quality content that aligns with trends and user needs[187] - In 2024, the company received 35 customer complaints, achieving a 100% resolution and follow-up rate[194] - The company has a dedicated customer service team to actively listen and respond to customer feedback, ensuring service experience improvement[194] Technology and Innovation - The company utilizes AI tools to enhance advertising material effectiveness, including digital humans and voice cloning technologies, ensuring a high-quality and immersive experience[191] - The company emphasizes responsible AI application, ensuring inclusivity and security in data collection, processing, and storage[191] - The company has implemented a comprehensive internal management system for copyright material procurement, usage, and infringement penalties[194] - The company regularly analyzes user behavior data to optimize content structure and accurately target customized products, continuously launching popular short videos[192] - The company employs multiple technical measures to ensure compliance with advertising laws and ethical standards during the review of advertising materials[193] Supply Chain Management - The company prioritizes responsible procurement and ESG risk management in its supply chain, focusing on sustainable supply chain construction with suppliers[199] - The company has set targeted admission requirements for different categories of suppliers, emphasizing social responsibility and environmental contributions in supplier selection[199] - Regular on-site audits of suppliers are conducted to ensure service quality and effectiveness, with ongoing communication to monitor their operational performance[200] - The company collaborates long-term with high-quality, responsive suppliers while eliminating those that fail to meet demands over time[200]
优矩控股(01948) - 2024 - 年度财报