Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 3,284.2 million, an increase of about RMB 607.1 million or approximately 22.7% compared to the same period in 2023[2]. - Gross profit for the year was approximately RMB 396.3 million, up by about RMB 66.5 million or approximately 20.2% year-on-year[2]. - Net profit reached approximately RMB 123.0 million, representing an increase of about RMB 50.1 million or approximately 68.8% compared to the previous year[2]. - Basic and diluted earnings per share attributable to ordinary equity holders of the parent were approximately RMB 1.45, an increase of about RMB 0.48 or approximately 49.5% from the previous year[2]. - The company reported total comprehensive income of RMB 123.2 million for the year, compared to RMB 73.1 million in the previous year[8]. - Customer contract revenue for 2024 reached RMB 3,284,183,000, an increase of 22.6% from RMB 2,677,103,000 in 2023[38]. - Revenue from toluene oxidation products was RMB 2,069,979,000 in 2024, up 36.5% from RMB 1,515,254,000 in 2023[40]. - The group's pre-tax profit reached RMB 2,887,933 thousand in 2024, up from RMB 2,347,338 thousand in 2023, reflecting a growth of approximately 23%[48]. - The total tax expense for 2024 was RMB 36,060 thousand, compared to RMB 21,836 thousand in 2023, indicating an increase of approximately 65%[52]. - Basic earnings per share rose to RMB 1.45 in 2024, compared to RMB 0.97 in 2023, marking an increase of about 49%[60]. Dividends - The board proposed a final dividend of RMB 0.4823 per ordinary share, subject to shareholder approval at the annual general meeting[3]. - The company proposed a special dividend of RMB 0.4823 per ordinary share for 2024, while the final dividend for 2023 was RMB 3.6 per share[57]. Assets and Liabilities - Non-current assets increased to RMB 1,401.5 million from RMB 1,283.3 million in the previous year[9]. - Current assets rose to RMB 950.2 million, up from RMB 832.6 million in the previous year[9]. - Total liabilities increased to RMB 1,678.1 million, compared to RMB 1,586.3 million in the previous year[10]. - The company's equity attributable to ordinary equity holders increased to RMB 673.6 million from RMB 529.6 million in the previous year[10]. - The company's total liabilities included a net current liability of approximately RMB 625 million as of December 31, 2024[19]. - The company's depreciation expense for property, plant, and equipment was RMB 114,536 thousand in 2024, slightly up from RMB 111,198 thousand in 2023[15]. - The company reported a net impairment of trade receivables of RMB 786 thousand in 2024, compared to a reversal of RMB 188 thousand in 2023[48]. - Trade receivables increased to RMB 154,044,000 in 2024 from RMB 97,211,000 in 2023, reflecting a significant growth in customer transactions[66]. - The group’s trade receivables impairment provision rose to RMB 1,410,000 in 2024 from RMB 624,000 in 2023, indicating increased credit risk[73]. Cash Flow - Operating cash flow for the year ended December 31, 2024, was RMB 262,508 thousand, an increase of 61.4% compared to RMB 162,596 thousand in 2023[15]. - Cash flow from investing activities showed a net outflow of RMB 61,441 thousand in 2024, an improvement from a net outflow of RMB 81,898 thousand in 2023[16]. - Cash flow from financing activities resulted in a net outflow of RMB 192,948 thousand in 2024, compared to a net outflow of RMB 98,905 thousand in 2023[16]. - The company’s cash and cash equivalents increased to RMB 73,680 thousand at the end of 2024, up from RMB 65,433 thousand at the end of 2023[16]. Market Performance - Revenue from the Asia market (excluding mainland China) increased to RMB 492,040,000 in 2024, a rise of 71.3% from RMB 287,508,000 in 2023[42]. - Total other income for 2024 amounted to RMB 74,140,000, significantly higher than RMB 25,505,000 in 2023, marking a growth of 290.5%[46]. - The group reported a net foreign exchange gain of RMB 6,877,000 in 2024, compared to RMB 3,617,000 in 2023[46]. - The sales revenue of toluene oxidation products and their derivatives increased by approximately 36.6% to about RMB 2,070.0 million, up from RMB 1,515.3 million year-on-year[91]. - Export revenue rose by approximately 35.4% to about RMB 835.5 million, compared to RMB 617.1 million in the same period last year[96]. Research and Development - Research and development expenses increased to RMB 137,994 thousand in 2024 from RMB 99,959 thousand in 2023, representing a rise of about 38%[48]. - The company plans to expand its production capacity with a new facility in Hubei, expected to start production by the end of 2024, with an annual capacity of 40,000 tons of fine chemicals[100]. - The second phase of the Hubei facility expansion is expected to begin construction in the second half of 2025, with additional capacity coming online in stages until 2029[100]. Governance and Compliance - The audit committee has been established to review and supervise the financial reporting process and internal control systems of the company[139]. - The consolidated financial statements for the year ending December 31, 2024, have been reviewed by the audit committee[140]. - The auditor, Ernst & Young, confirmed that the financial figures in the announcement align with the preliminary consolidated financial statements for the year[140]. - There were no significant changes regarding the company that need to be disclosed according to the listing rules during the reporting period[140]. - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[141]. - The annual report for the year ending December 31, 2024, will include all information required by the listing rules and will be sent to shareholders as necessary[141]. - The board of directors consists of both executive and non-executive members, ensuring a diverse governance structure[142].
武汉有机(02881) - 2024 - 年度业绩