Financial Performance - For the fiscal year ending December 31, 2024, the company reported a sales revenue of approximately RMB 82.8 million, a decrease of about RMB 17.9 million compared to the previous year[12]. - The company recorded a loss attributable to shareholders of approximately RMB 16.9 million, an increase of about RMB 4.8 million from the previous year[13]. - The company's revenue for the year ended December 31, 2024, was approximately RMB 828 million, a decrease of about RMB 179 million compared to RMB 1,007 million for the same period in 2023[17]. - The gross profit for the year ended December 31, 2024, was approximately RMB 23 million, down RMB 122 million from RMB 145 million in 2023, resulting in a gross margin of 2.8% compared to 14.4% in the previous year[19]. - Other income, gains, and losses for the year ended December 31, 2024, were approximately RMB 67 million, an increase of RMB 20 million from RMB 47 million in 2023[21]. - The company reported a loss attributable to owners of the company of approximately RMB 169 million for the year ended December 31, 2024, compared to a loss of RMB 121 million in the previous year[27]. Supply Chain and Business Strategy - The company is focusing on providing integrated supply chain solutions, emphasizing a "from farm to table" approach to ensure the freshness of agricultural products[12]. - The company aims to optimize its supply chain management and food supply business layout in response to market demands[11]. - The company is actively adjusting its strategy to lower gross margins to meet consumer demand for high cost-performance products and services[13]. - The company has deepened cooperation with various producers and packaging factories to supply high-quality agricultural products[12]. - The company plans to expand its supply chain services in innovative technology sectors, including green energy industries, to respond to structural market demand changes[16]. Cash Flow and Assets - The net current assets decreased from approximately RMB 936 million as of December 31, 2023, to approximately RMB 897 million as of December 31, 2024[28]. - Cash and cash equivalents and financial assets measured at fair value increased to approximately RMB 882 million as of December 31, 2024, from RMB 712 million as of December 31, 2023[29]. Employee and Operational Metrics - Employee count decreased to 48 as of December 31, 2024, from 62 as of December 31, 2023, due to business adjustments and optimization[33]. - Employee turnover rate was 12.9% in 2024, with a total of 48 employees at year-end[177]. - 100% of employees participated in training programs, with an average training time of 42 hours per employee[182]. - The total working hours for male employees were 56,224 hours, with zero work-related injuries and fatalities, resulting in a fatality rate of 0%[180]. - The total working hours for female employees were 40,160 hours, with zero work-related injuries and fatalities, resulting in a fatality rate of 0%[180]. Corporate Governance - The board of directors includes a mix of executive and non-executive members, with some directors up for re-election at the upcoming annual general meeting[70]. - The company has implemented high standards of corporate governance based on the Stock Exchange's Corporate Governance Code[106]. - The board has established various committees, including a remuneration committee and a nomination committee, to oversee specific areas of governance[100][101]. - The company has a clear separation of roles between the chairman and the CEO, although both roles are currently held by the same individual[114]. - The board is responsible for monitoring operational and financial performance, as well as establishing appropriate risk management policies[112]. Environmental, Social, and Governance (ESG) Initiatives - The company has been focusing on sustainable development by integrating environmental, social, and governance (ESG) principles into its operations[153]. - The company’s ESG report is the ninth issued, focusing on corporate social responsibility and covering operations primarily in its factories in China[149]. - The company has not faced any penalties from environmental protection authorities as of December 31, 2024[162]. - The company actively engages in social welfare activities to contribute to balanced social development[154]. - The company prioritizes employee health and safety as a key component of its sustainable development strategy[156]. Waste and Emissions Management - The total wastewater generated by the group in the reporting year was approximately 11,972 tons[163]. - The total greenhouse gas emissions amounted to approximately 2,417.3 tons CO2 equivalent, with a density of about 292 kg CO2 equivalent per million RMB revenue[168]. - The group has established a comprehensive waste management system to ensure proper disposal and recycling of industrial waste[169]. - The company plans to achieve zero discharge of domestic wastewater in the medium to long term by recycling it for irrigation[175]. Community Engagement and Contributions - The company has made significant community contributions, including donations of RMB 300,000 to the Wenchuan earthquake relief in 2008 and RMB 2,000,000 to the Huangshan United Applied Technology Research Institute in 2019[192][193]. - Community investment initiatives were outlined, focusing on areas such as education, environment, and health, along with resources allocated to these initiatives[198].
双桦控股(01241) - 2024 - 年度财报