Financial Performance - Total operating revenue for 2024 reached ¥1,648,860,246.58, an increase of 17.3% compared to ¥1,405,495,692.08 in 2023[11]. - Total operating costs for 2024 were ¥1,604,664,069.62, up from ¥1,444,884,526.48 in 2023, reflecting a growth of 11.1%[11]. - Operating profit for 2024 was ¥39,954,175.05, a significant recovery from a loss of ¥54,248,404.94 in 2023[12]. - Net profit for 2024 amounted to ¥22,545,179.01, compared to a net loss of ¥76,251,997.64 in 2023, indicating a turnaround[12]. - The company reported a net profit attributable to shareholders of ¥7,477,047.53, compared to a loss of ¥51,675,143.59 in the previous year[42]. - The company's total profit increased by approximately RMB 93.11 million compared to the same period last year, with operating profit rising by about RMB 94.20 million[107]. Assets and Liabilities - As of December 31, 2024, total assets amounted to RMB 3,086,613,319.89, an increase from RMB 2,812,343,564.88 in the previous year, representing a growth of approximately 9.7%[6]. - Current assets totaled RMB 1,470,064,248.64, up from RMB 1,277,141,060.23, indicating a year-over-year increase of about 15.1%[5]. - Total liabilities increased to RMB 1,674,456,080.34 from RMB 1,433,936,790.80, which is an increase of about 16.8%[9]. - The company's asset-liability ratio at the end of the reporting period was 54.25%, up from 50.99% at the beginning of the year[111]. - Non-current assets totaled RMB 1,616,549,071.25, up from RMB 1,535,202,504.65, indicating a growth of about 5.3%[6]. Cash Flow - The net cash flow from operating activities was -¥57,592,661.96, a significant decrease from ¥66,359,922.32 in the previous year[64]. - Cash inflow from operating activities was RMB 1,238.84 million, while cash outflow was RMB 1,296.43 million, resulting in a net cash outflow of RMB 57.59 million[114]. - The net cash flow from investment activities was a loss of RMB 85.57 million, primarily due to expenditures on fixed asset purchases[115]. - The net cash flow from financing activities was RMB 120.74 million, mainly sourced from bank loans[116]. Borrowings - Short-term borrowings rose to RMB 230,000,000.00 from RMB 140,000,000.00, representing a substantial increase of approximately 64.3%[7]. - Long-term borrowings increased to RMB 133,350,000.00 from RMB 70,000,000.00, indicating an increase of approximately 90.5%[9]. - The company's short-term borrowings increased by 64.29% to approximately RMB 230 million, attributed to increased bank loans from subsidiaries[83]. - The company's long-term borrowings rose by 90.50% to approximately RMB 133.35 million, driven by project construction financing from subsidiaries[83]. Revenue Sources - Revenue from gas storage and transportation products reached ¥1,277,349,944.20, a 16.7% increase from ¥1,094,185,563.55 in the previous year[31]. - Revenue from automation manufacturing equipment system integration increased to ¥266,466,140.26, up 18.5% from ¥224,793,890.46 year-over-year[31]. - Domestic revenue grew by 10.82% to ¥965,585,410.79, while international revenue increased by 25.53% to ¥641,966,069.43[68][69]. Research and Development - Research and development expenses amounted to ¥69,021,375.00, accounting for 4.19% of total operating revenue[78]. - The company maintains a high level of R&D investment, with 6 specialized enterprises and 7 high-tech enterprises recognized, achieving breakthroughs in key technologies related to hydrogen storage and transportation equipment[59]. - The subsidiary Beijing Tianhai improved its R&D system and increased investment in technological innovation to develop new products[49]. Market Outlook - The gas storage and transportation equipment industry is experiencing stable growth, with a consistent market demand across various applications[87]. - The industrial gas market is expected to see steady growth in demand by 2025, supported by policy incentives and industrial upgrades[88]. - The automation equipment market in China is projected to continue growing, with a focus on smart and flexible manufacturing solutions[92]. Corporate Governance - The audit committee reviewed and confirmed the financial report for the year 2024[125]. - The company adhered to the corporate governance code as per the Hong Kong listing rules during the reporting period[126]. - The board of directors confirmed compliance with the standards for securities trading by directors and supervisors throughout the reporting period[127]. Compliance and Internal Control - The company has strengthened compliance and internal control management, ensuring safe and stable operations through enhanced internal auditing and risk assessment processes[50]. - The company is committed to deepening internal control compliance management to ensure ongoing improvement and optimization of its internal control system[55].
京城机电股份(00187) - 2024 - 年度业绩