Financial Performance - Revenue for the year ended December 31, 2024, was RMB 1,534,193 thousand, a decrease of 28.5% compared to RMB 2,143,680 thousand in 2023[2] - Gross profit for the same period was RMB 98,540 thousand, down 43.3% from RMB 173,567 thousand in the previous year[4] - The company reported a loss before tax of RMB 68,045 thousand, compared to a profit of RMB 50,529 thousand in 2023[4] - Net loss attributable to shareholders for the year was RMB 47,546 thousand, compared to a profit of RMB 27,449 thousand in the prior year[4] - Basic and diluted loss per share was RMB (8.46), a significant decline from earnings of RMB 3.75 per share in 2023[4] - The company reported a net loss of RMB 69,249 thousand for the fiscal year ending December 31, 2024, compared to a net profit of RMB 30,750 thousand in the previous year, indicating a significant turnaround[21] - The company’s operating expenses for the fiscal year ending December 31, 2024, totaled RMB 153,474 thousand, an increase from RMB 108,862 thousand in the previous year, representing an increase of approximately 41.0%[21] - The company recognized other income of RMB 3,252 thousand for the fiscal year ending December 31, 2024, compared to RMB 3,445 thousand in the previous year, showing a slight decrease of about 5.6%[21] - The company’s financial costs for the fiscal year ending December 31, 2024, were RMB 19,213 thousand, compared to RMB 16,486 thousand in the previous year, reflecting an increase of approximately 16.6%[21] - The group's consolidated revenue for 2024 was RMB 1,534.2 million, a decrease of approximately 28.4% compared to RMB 2,143.7 million in the previous fiscal year[61] - The group's gross profit for 2024 was RMB 98.5 million, down 43.2% from RMB 173.6 million in 2023[63] - Operating loss for 2024 was RMB 48.8 million, a decline of 172.9% compared to an operating profit of RMB 67.0 million in 2023[66] Assets and Liabilities - Total assets increased to RMB 3,347,474 thousand from RMB 3,239,021 thousand, reflecting a growth of 3.4%[6] - Total equity decreased to RMB 696,921 thousand from RMB 752,097 thousand, a decline of 7.4%[7] - The company’s total liabilities rose to RMB 2,650,553 thousand, up from RMB 2,486,924 thousand, indicating an increase of 6.6%[7] - Total liabilities as of December 31, 2024, were RMB 2,650,553 thousand, up from RMB 2,486,924 thousand in the previous year, marking an increase of about 6.6%[22][23] - The group's debt-to-asset ratio as of December 31, 2024, was 79.2%, up from 76.8% as of December 31, 2023[71] - As of December 31, 2024, the group had bank borrowings of RMB 280.5 million, an increase from RMB 203.2 million as of December 31, 2023[71] Revenue Segments - The company’s revenue from municipal engineering for the fiscal year ending December 31, 2024, was RMB 497,195 thousand, down from RMB 724,585 thousand in the previous year, indicating a decline of about 31.4%[21] - The company’s revenue from marine construction for the fiscal year ending December 31, 2024, was RMB 1,036,998 thousand, down from RMB 1,419,095 thousand in the previous year, representing a decrease of approximately 27.0%[21] - Revenue from the marine construction segment and municipal engineering segment decreased by approximately 31.4% and 26.9% respectively in 2024[61] Trade Receivables and Payables - Trade receivables decreased slightly from RMB 1,302,077 thousand in 2023 to RMB 1,274,771 thousand in 2024, a decline of about 2.1%[40] - The net trade receivables after impairment provisions were RMB 1,126,422 thousand in 2024, down from RMB 1,209,411 thousand in 2023, a decrease of approximately 6.9%[40] - The company's trade receivables amounted to RMB 1,713,248 thousand in 2024, an increase from RMB 1,665,447 thousand in 2023, representing a growth of approximately 2.3%[44] - The company's trade payables increased to RMB 1,543,705 thousand in 2024 from RMB 1,525,923 thousand in 2023, reflecting a growth of about 1.2%[46] - As of December 31, 2024, the group's trade and other payables increased to RMB 2,277.6 million from RMB 2,216.9 million as of December 31, 2023, primarily due to increased progress payments and warranty payments related to domestic and international projects[70] Dividends and Capital Commitments - The company did not declare a final dividend for the year ending December 31, 2024, compared to a dividend of HKD 0.0102 per share totaling approximately HKD 8,419,000 (around RMB 7,630,000) in 2023[53] - The board of directors decided not to declare any dividends for the year ended December 31, 2024, compared to a dividend of HKD 0.0102 per share (approximately RMB 0.092) totaling about HKD 8.419 million (approximately RMB 7.630 million) for the year ended December 31, 2023[82] - The company has no significant capital commitments as of December 31, 2024, indicating a stable financial position[54] Operational Focus and Future Plans - The company continues to focus on expanding its marine construction and municipal engineering services in China and Southeast Asia[8] - The group plans to expand its business market coverage and develop emerging environmental engineering businesses to positively impact revenue growth[59] - The group aims to optimize resource allocation and strengthen internal controls to mitigate liquidity and credit risks amid increasing industry competition[60] Employee and Governance - The group had a total of 472 employees as of December 31, 2024, with employee costs amounting to RMB 666 million, a decrease from RMB 717 million in 2023[85] - The audit committee reviewed the audited consolidated financial statements for the reporting period, confirming compliance with applicable accounting standards[89][90] - The company adopted the corporate governance code principles and complied with all applicable provisions during the reporting period[88]
华滋国际海洋(02258) - 2024 - 年度业绩