Financial Performance - For the fiscal year ending December 31, 2024, the company's total sales revenue was approximately RMB 2,024,350,000, representing a 4.2% increase from RMB 1,942,475,000 in the previous year[9]. - The gross profit for the same period was approximately RMB 297,919,000, an increase of about 24.2% compared to RMB 239,843,000 in the prior year[10]. - The company's net profit attributable to shareholders increased by approximately 13.4% to RMB 89,733,000, up from RMB 79,096,000 in the previous year[14]. - Revenue for 2024 reached RMB 2,024,350, an increase of 4.2% compared to RMB 1,942,475 in 2023[30]. - Gross profit for 2024 was RMB 297,919, representing a 24.2% increase from RMB 239,843 in 2023[30]. - Annual profit for 2024 was RMB 94,539, an increase of 16.6% compared to RMB 81,082 in 2023[30]. - Pre-tax profit for 2024 was RMB 96,935, up 14.4% from RMB 84,953 in 2023[30]. - Total comprehensive income for the year was RMB 80,200,000, slightly down from RMB 80,529,000 in 2023[119]. Assets and Liabilities - Total assets increased to RMB 3,004,853 in 2024, a growth of 16.3% from RMB 2,583,779 in 2023[30]. - Total liabilities rose to RMB 2,036,774, reflecting a 20.7% increase from RMB 1,687,257 in 2023[30]. - The company's current assets increased to approximately RMB 1,670,900,000 from RMB 1,378,758,000, with cash and bank balances rising to RMB 188,892,000[15]. - Non-current assets increased to RMB 1,333,953 thousand in 2024 from RMB 1,205,021 thousand in 2023, representing a growth of 10.7%[120]. - Current liabilities exceeded current assets by approximately RMB 143,114,000, compared to RMB 95,818,000 in 2023[127]. Equity and Shareholder Information - Total equity as of December 31, 2024, was approximately RMB 968,079,000, up from RMB 896,522,000 in the previous year[15]. - The board recommends a final dividend of RMB 0.013 per share for the year ending December 31, 2024, subject to approval at the upcoming annual general meeting[29]. - Conpri Limited holds a 36.65% equity interest in the company, with Masuda and Masuda Toshimitsu each owning 40% of Conpri's equity[49]. - The company has a public float of at least 25% of its total issued share capital as of the report date[52]. Operational Developments - The company established two overseas subsidiaries in Mexico and Serbia to enhance its global presence in the automotive parts market[7]. - The group plans to invest in the construction of a second factory in Mexico and expand production capacity in Serbia to meet customer demands in the automotive sector[24]. - The management aims to enhance product quality and expand the customer base, leveraging expertise in the mold and plastic parts production industry[22]. Employee and Compensation - Employee headcount increased to approximately 3,243 from 3,186, with total employee compensation costs rising to approximately RMB 306,504,000[17]. - The remuneration committee assessed the performance of executive directors and reviewed their compensation packages, which include base salary, retirement benefits, and discretionary bonuses[78]. Corporate Governance - The company has committed to high standards of corporate governance, adhering to the relevant provisions of the Hong Kong Stock Exchange's corporate governance code[61]. - The board consists of three executive directors, two non-executive directors, and three independent non-executive directors, maintaining independence as per listing rules[63]. - The company has established a compensation committee consisting of all independent non-executive directors to review the compensation policies for directors and senior management[77]. - The audit committee reviews and monitors the integrity of the group's annual and interim financial statements, ensuring compliance with accounting standards and regulatory requirements[87]. Risk Management and Financial Stability - The company's leverage ratio decreased to 24.9% from 26.8% in the previous year, indicating improved financial stability[15]. - The group has no significant contingent liabilities as of December 31, 2024[21]. - The group emphasizes the importance of shareholder rights and maintains good communication through interim reports, annual reports, and shareholder meetings[95]. Financial Reporting and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with disclosure requirements[102]. - The independent auditor confirmed that the consolidated financial statements fairly reflect the group's financial position and performance as of December 31, 2024[102]. - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which did not have a significant impact on the financial position and performance[129]. Future Outlook - The group expects to generate operating cash inflows from future business operations, indicating a positive outlook for profitability[128]. - The company is transitioning its shares from the Growth Enterprise Market to the Main Board, which will enhance its visibility and access to capital markets[98].
YUSEI(00096) - 2024 - 年度财报