Financial Performance - For the fiscal year ending March 31, 2025, the company reported a revenue of RMB 377.688 million, a decrease of approximately RMB 112.864 million or 23.0% compared to the previous year[3]. - Gross profit for the year was RMB 51.601 million, down RMB 25.477 million or 33.1%, with a gross margin decline from approximately 15.7% to 13.7% due to intensified market competition[3]. - The company recorded a loss attributable to shareholders of RMB 37.550 million, a shift from a profit of RMB 8.357 million in the previous year, primarily due to decreased gross profit and increased impairment losses[3]. - Total revenue for the year ended March 31, 2025, was RMB 377,688,000, down from RMB 490,552,000 in the previous year, representing a decrease of approximately 23%[18]. - The gross profit for the year was RMB 51,601,000, compared to RMB 77,078,000 in the previous year, indicating a decline of approximately 33%[18]. - The operating loss for the year was RMB 38,398,000, compared to an operating profit of RMB 12,259,000 in the previous year[18]. - The company recorded a net loss of RMB 37,550,000 for the year ending March 31, 2025, compared to a net profit of RMB 8,357,000 in 2024[23]. - The company reported a consolidated loss before tax of RMB 43,320,000 in 2025, compared to a profit of RMB 8,436,000 in 2024, indicating a significant shift in financial performance[40]. - Basic loss per share for 2025 was RMB (7.58), compared to earnings of RMB 1.69 per share in the previous year[18]. - The actual tax expense for 2025 was RMB 5,770,000, a substantial increase from RMB 79,000 in 2024, reflecting changes in tax liabilities[47]. Revenue Breakdown - Revenue from software and solutions sales decreased by RMB 63.908 million, while revenue from technical services fell by RMB 66.366 million, attributed to a reduction in project numbers[11]. - Revenue for the year 2025 was RMB 377,688,000, a decrease of 23% from RMB 490,552,000 in 2024[35]. - Revenue from software and solutions sales was RMB 113,153,000 in 2025, down from RMB 177,061,000 in 2024, representing a decline of 36%[35]. - Revenue from technical services was RMB 214,221,000 in 2025, down from RMB 280,587,000 in 2024, a decrease of 24%[35]. - Revenue from product sales increased to RMB 50,314,000 in 2025 from RMB 32,904,000 in 2024, marking a growth of 53%[35]. - Major clients contributing over 10% of total revenue included Client A with RMB 129,455,000, Client B with RMB 84,232,000, Client C with RMB 73,796,000, and Client D with RMB 59,901,000[35]. Cost and Expenses - The overall sales cost decreased by RMB 87.387 million, but the average gross margin fell from 15.7% to 13.7% due to competitive pricing adjustments[12]. - The group's administrative and operating expenses increased by approximately RMB 5,633,000, representing an 11.6% growth compared to the previous year, primarily due to an increase in R&D expenses of RMB 2,227,000[13]. - Employee costs in 2025 amounted to RMB 80,585,000, down from RMB 99,845,000 in 2024, representing a reduction of approximately 19.3%[43]. - The total remuneration for the five highest-paid individuals in 2025 was RMB 2,915,000, down from RMB 3,791,000 in 2024, indicating a reduction in compensation expenses[50]. - The total remuneration for directors for 2025 was RMB 4,277,000, an increase from RMB 3,703,000 in 2024, reflecting adjustments in director compensation[48]. Research and Development - R&D expenses increased by 9.1% compared to the previous year, with a total of 23 patents and 189 software copyrights applied/registered in China as of March 31, 2025[17]. - Research and development costs (excluding amortization) rose to RMB 26,737,000 in 2025 from RMB 24,510,000 in 2024, reflecting an increase of approximately 9.1%[45]. - The company incurred research and development tax impacts of RMB 342,000 in 2025, compared to RMB 5,044,000 in 2024, reflecting a significant reduction in R&D tax benefits[47]. Assets and Liabilities - As of March 31, 2025, the net value of trade receivables and notes receivable decreased by approximately RMB 36,454,000, a decline of 8.1% from the previous year[14]. - The group's inventory and contract costs decreased by approximately RMB 14,369,000, mainly due to revenue recognition from certain IT construction projects[15]. - The total assets less current liabilities decreased from RMB 289,068,000 in 2024 to RMB 256,772,000 in 2025[20]. - The total equity attributable to shareholders decreased from RMB 277,088,000 in 2024 to RMB 239,634,000 in 2025[20]. - Trade receivables for 2025 stand at RMB 475,627,000, slightly decreasing from RMB 484,264,000 in 2024[62]. - The aging analysis of trade receivables shows that amounts less than one year old are RMB 366,036,000 for 2025, compared to RMB 361,805,000 in 2024, reflecting a slight increase[63]. - The total prepayments and other receivables for 2025 are RMB 7,627,000, down from RMB 12,020,000 in 2024, indicating a decrease of approximately 36.5%[64]. Strategic Focus and Future Outlook - The company is focusing on the energy sector's transformation, leveraging AI and digital technologies to enhance operational efficiency and support the development of a new power system[5][6]. - The strategic vision is to become a global leader in smart energy, smart cities, and smart living services, emphasizing cash flow management and operational stability[8]. - The company is committed to integrating new information technologies with energy technologies to provide digital and intelligent solutions for the energy industry[6]. - The ongoing transformation in the energy structure and the rise of digital technologies are expected to create new value and development opportunities for the company[8]. - The company expects to maintain sufficient financial resources to continue operations for at least 12 months from the reporting date[23]. - The company is actively improving operating cash flow through accelerated project settlements and receivables collection[23]. Compliance and Governance - The company has complied with all corporate governance codes as per the listing rules, ensuring high standards of governance[74]. - The company has maintained compliance with all applicable laws and regulations in China and Hong Kong during the year[80]. - The consolidated financial statements for the year have been reviewed by the company's audit committee and audited by KPMG, with no reservations noted in the independent auditor's report[82]. - The preliminary annual performance figures in the announcement are consistent with the audited consolidated financial statements[82]. - There have been no significant post-reporting period events that could impact the group from April 1, 2025, to the date of this announcement[83]. Employee and Operational Changes - The company employed 319 employees as of March 31, 2025, down from 517 employees in 2024, indicating a reduction of approximately 38.2%[79]. - Short-term bank loans secured decreased to RMB 115,000,000 in 2025 from RMB 132,455,000 in 2024, a decrease of approximately 13.2%[69]. - Trade payables to third parties decreased to RMB 110,961,000 in 2025 from RMB 145,082,000 in 2024, representing a reduction of about 23.4%[67]. - The company has not proposed a final dividend for the current year, consistent with the previous year[77].
元力控股(01933) - 2025 - 年度业绩