Financial Performance - The unaudited total revenue for the year ended December 31, 2024, was RMB 5,055,598, a decrease of 6.8% compared to RMB 5,424,284 for the year ended December 31, 2023[5] - The gross profit for the year was RMB 936,605, down 34.9% from RMB 1,438,478 in the previous year, resulting in a gross margin of 18.5%, a decline of 8.0 percentage points[5] - The net loss for the year was RMB 875,645, compared to a profit of RMB 507,858 in the previous year, representing a decrease of 272.4%[6] - The basic and diluted loss per share for the year was RMB (0.96), compared to earnings of RMB 0.52 in the previous year, marking a decline of 284.6%[7] - The total expenses for the year amounted to RMB 4,971,241,000 in 2024, an increase from RMB 4,631,528,000 in 2023, marking a rise of approximately 7.4%[20] - The company reported a net loss of approximately RMB 875.6 million for 2024, a decline of about 272.4% compared to a profit of RMB 507.9 million in 2023[77] Revenue Breakdown - Revenue from property management services was RMB 3,575,950, a slight increase of 0.6% from RMB 3,555,106 in the previous year[5] - Revenue from community value-added services decreased by 9.9% to RMB 1,184,806 from RMB 1,314,308 in the previous year[5] - Revenue from developer value-added services saw a significant decline of 46.9%, falling to RMB 294,842 from RMB 554,870[5] - Community value-added services revenue decreased by approximately 9.9% to RMB 1,184.8 million in 2024 from RMB 1,314.3 million in 2023, representing about 23.4% of total revenue[66] - Developer value-added services revenue fell by approximately 46.9% to RMB 294.8 million in 2024 from RMB 554.9 million in 2023, accounting for about 5.8% of total revenue[67] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 5,475,045, down from RMB 6,682,643 in the previous year[8] - The total equity attributable to the owners of the company decreased to RMB 1,880,636 from RMB 2,903,765 in the previous year[8] - The total liabilities as of December 31, 2024, amounted to RMB 3,421,802 thousand, a slight increase from RMB 3,391,435 thousand in 2023[9] - Current liabilities totaled RMB 3,301,351 thousand, reflecting an increase of 4.6% from RMB 3,155,392 thousand in 2023[9] - Non-current liabilities decreased significantly to RMB 120,451 thousand from RMB 236,043 thousand, a reduction of 48.9%[9] - The total equity and liabilities amounted to RMB 5,475,045 thousand, down from RMB 6,682,643 thousand in 2023, a decrease of 18.0%[9] Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 2,141,751 from RMB 1,927,283 in the previous year, indicating improved liquidity[8] - The company’s cash and cash equivalents interest income increased to RMB 17,766,000 in 2024 from RMB 15,912,000 in 2023, a growth of approximately 11.6%[22] - The company has a significant amount of restricted cash amounting to RMB (53,308,000) in 2024, indicating potential liquidity constraints[41] - As of December 31, 2024, the total cash and cash equivalents held by the group amounted to RMB 2,195,059,000, an increase from RMB 1,927,283,000 as of December 31, 2023[87] Tax and Other Income - Current income tax expense for China decreased significantly to RMB 88,656,000 in 2024 from RMB 171,580,000 in 2023, a decline of about 48.3%[23] - Other income increased to RMB 69,598,000 in 2024, up from RMB 50,973,000 in 2023, representing a growth of about 36.5%[21] - The income tax expense for 2024 was approximately RMB 71.4 million, a decrease of about 48.2% compared to RMB 137.7 million in 2023[75] Shareholder Information - The company declared dividends totaling RMB 259,975,000 for 2024, an increase from RMB 150,054,000 in 2023, with the company’s own declared dividends at RMB 178,623,000 compared to RMB 139,413,000 previously[46] - The board did not recommend a final dividend for the year ended December 31, 2024, compared to a dividend of RMB 0.205 per share for 2023[92] Strategic Focus and Future Outlook - The company continues to focus on property management and value-added services primarily in China, with all non-current assets located in the same region[17] - The company is focusing on enhancing its property management services, which are expected to drive revenue growth in the upcoming fiscal periods[36] - The company anticipates that its core business will continue to grow, albeit at a potentially slower pace, while emphasizing customer satisfaction as a key performance indicator[56] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the company's financial reporting system and risk management[101] - The company has confirmed compliance with the standards set out in the listing rules regarding securities trading by directors for the year ended December 31, 2024[96] - The company has adopted a stock option plan to reward directors and employees for their contributions, which expired on October 19, 2024, with no options granted in the year ended December 31, 2024[98]
新城悦服务(01755) - 2025 - 年度业绩