Business Operations - Asiaray Media Group Limited operates in nearly 40 cities across Greater China, focusing on mega transport advertising media management[10]. - The company has exclusive concession rights for 35 metro lines and 22 airports as of January 6, 2025[16]. - Asiaray upgraded the traditional advertising panel at Mong Kok New Town Mall to a naked-eye 3D LED, enhancing audience engagement with high-definition visuals[43]. - The company is the exclusive advertising operator for Singapore's Thomson-East Coast Line, the first cross-border metro line in Southeast Asia, and plans to invest more resources to enhance its exposure in Singapore[45]. - Exclusive concession rights for Shenzhen Metro media resources have increased to 9 metro lines, expanding its advertising reach[49]. - The company emphasizes a space management approach, creating value for advertising customers, media resource owners, and passengers[17]. - Asiaray's strategic focus includes enhancing capabilities in mega transport advertising solutions to serve the Greater China region[81]. Financial Performance - The group's consolidated revenue for 2024 reached RMB 1,608.8 million, a significant increase from RMB 1,062.2 million in 2023, representing a growth of approximately 51.5%[65]. - Earnings before interest, tax, depreciation, and amortization (EBITDA) for 2024 were RMB 838.3 million, up from RMB 593.2 million in 2023, indicating a growth of about 41.3%[67]. - Revenue breakdown by operating segment shows that airport revenue was RMB 519.4 million in 2024, compared to RMB 358.3 million in 2023, reflecting a growth of approximately 45%[69]. - Metro lines and billboards generated revenue of RMB 503.9 million in 2024, an increase from RMB 399.6 million in 2023, marking a growth of around 26%[69]. - The bus and other business segment reported revenue of RMB 585.5 million in 2024, up from RMB 311.4 million in 2023, which is a substantial increase of approximately 87.7%[69]. - Asiaray reported a profit of RMB 10.4 million for the year ended December 31, 2024, a turnaround from a loss of RMB 9.9 million in 2023[84]. - The Group's DOOH+ platform generated approximately 20% of total revenue, highlighting its significance in the overall business strategy[78]. Awards and Recognition - The company was awarded the "Standard Chartered Corporate Achievement Awards 2024" for "Sustainable Corporate (Social Responsibility) - Outstanding Award," highlighting its commitment to corporate social responsibility[54]. - Asiaray received the "SGGXHIS" Level 1 Digital Advertising Enterprise certification, recognizing its digital transformation capabilities, which is unique in the industry[54]. - The company won a total of 16 awards at various advertising events, including 5 Gold Awards, 3 Silver Awards, and 7 Bronze Awards, showcasing its excellence in media campaigns[58]. - The innovative Mother's Day campaign transformed a transportation hub into an AI photo experience zone, winning 15 awards, including the Grand Award at The Spark Awards 2024[78]. - The Group's innovative O&O New Media Strategy earned 45 accolades for its campaigns, showcasing its commitment to creativity and efficiency in advertising[98]. Corporate Social Responsibility - The company is committed to social responsibility and community engagement, enhancing its corporate image[2]. - The eighth Lam Kwun King Memorial Library was completed in Nanyang, Henan, as part of the company's ongoing public welfare activities aimed at promoting children's healthy growth[52]. - The company aims to strengthen its charitable initiatives and community engagement through its leadership's involvement in various organizations[156][162]. Leadership and Governance - Mr. Lam Tak Hing, the CEO, has been with the company since May 2014 and is responsible for overall strategic planning and development[154]. - The company has a strong leadership team with diverse backgrounds in finance and management, enhancing its strategic capabilities[156][160]. - The leadership team includes members with significant experience in both local and international markets, which is expected to drive growth[162][164]. - The Company has adopted the principles and code provisions set out in the Corporate Governance Code (CG Code) contained in Appendix C1 to the Listing Rules[185]. - The Board is responsible for formulating the Group's long-term strategy and development plan, deciding major financial and capital projects, and reviewing internal control and risks[187]. - The Company emphasizes the importance of good corporate governance in balancing the interests of shareholders, customers, and employees[184]. Operational Challenges and Adjustments - The Group's revenue declined to RMB1,069.2 million for the Year, down from RMB1,608.8 million in 2023, due to a decrease in media resource inventory from optimization initiatives[88]. - The Group's cash and cash equivalents, including restricted cash, were RMB232.5 million as of December 31, 2024, down from RMB390.8 million in 2023[89]. - The Group focused on enhancing operational efficiency by divesting underperforming media resources and reacquiring high-potential media resources on favorable terms[86]. - The Group's revenue decreased from RMB1,608.8 million to RMB1,069.2 million, representing a year-on-year decline of 33.5% due to project terminations[109]. - Airports segment revenue fell by 31.0% from RMB519.4 million in 2023 to RMB358.3 million in 2024, primarily due to slower-than-expected economic recovery in Mainland China[114]. - The cost of revenue decreased by RMB494.4 million, or 39.3%, from RMB1,256.9 million in 2023 to RMB762.5 million in 2024, in line with the revenue decline[116]. Employee and Financial Metrics - The Group had bank borrowings totaling RMB355.4 million as of December 31, 2024, with RMB251.8 million repayable within one year[137]. - The total salaries and related costs for the years ended December 31, 2024 and 2023 amounted to RMB194.6 million and RMB223.7 million, respectively[151]. - As of December 31, 2024, the Group has a total of 579 employees, comprising 274 male and 305 female employees, indicating a balanced gender ratio[199].
雅仕维(01993) - 2024 - 年度财报