Financial Performance - The total revenue for 2024 reached ¥1,161.86 billion, representing a year-on-year increase of 1.2%[8] - The net profit attributable to shareholders for 2024 was ¥7.52 billion, with a basic earnings per share of ¥0.048[8] - In 2023, the company's revenue was RMB 114,797 million, a decrease of 2.4% compared to 2022's RMB 117,623 million[40] - The pre-tax profit for 2023 was RMB 3,813 million, a significant recovery from a loss of RMB 1,711 million in 2022[40] - The net profit attributable to shareholders in 2023 was RMB 803 million, compared to a loss of RMB 3,302 million in 2022[40] - The gross profit margin for 2024 was reported at 18.6%[8] - Net profit attributable to shareholders decreased by 6.3% to 752.48 million from 803.35 million[42] - Revenue grew by 1.2% to 116.19 billion compared to 114.80 billion in the prior year[42] - Operating cash flow increased significantly by 127.3% to 17.64 billion from 7.76 billion[42] Market and Orders - New orders for the company amounted to ¥1,536.0 billion, an increase of 11.9% year-on-year[11] - In the energy equipment sector, new orders totaled ¥891.0 billion, including ¥326.2 billion for coal-fired power equipment and ¥78.9 billion for nuclear power equipment[11] - The company has expanded its market presence in various sectors, including aerospace, high-speed rail, and medical equipment[18] - The company is actively participating in national key projects, focusing on core technologies to support national strategic needs[12] Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency and sustainability[5] - Research and development expenses increased by 5.51% to RMB 5.665 billion compared to the previous year[129] - The company’s subsidiary won the second prize in the National Science and Technology Progress Award for its core technology in large-capacity lithium-ion battery manufacturing[22] - The company achieved a 25 g/kWh reduction in coal consumption for its coal-fired units through the implementation of advanced heating and efficiency improvement technologies[139] Corporate Governance - The company is focused on maintaining compliance with regulatory requirements during the transition of its board and management[51] - The company has a strong emphasis on governance and oversight, as evidenced by the roles of independent directors and the supervisory board[56] - The company is committed to enhancing its corporate governance structure to align with best practices in the industry[57] - The board consists of eight directors, including three executive directors and three independent non-executive directors, with a third of the board being independent[89][90] Sustainability and Environmental Initiatives - The company is committed to implementing a carbon management service platform to systematically promote green and low-carbon management practices[30] - The company is committed to green and low-carbon development, aligning with national carbon neutrality goals[87] - The company emphasizes sustainable development as a key strategic focus, promoting circular economy and resource efficiency[195] - The company is actively developing clean energy and green technologies, focusing on ultra-low and near-zero emissions[195] Strategic Plans and Future Outlook - The company aims to enhance its core competitiveness and achieve high-quality development by focusing on national strategic needs and advancing new productive forces by 2025[31] - The company plans to continue optimizing its supply chain management platform to improve procurement efficiency and coverage[30] - The company intends to pursue mergers and acquisitions, research and development, and joint ventures to expand its core business areas and explore new markets[172] - Future outlook remains positive, with a projected annual growth rate of 15% over the next three years[10] Employee and Management Information - The total remuneration paid to all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 16.79818 million[74] - The number of employees in the parent company is 152, while the total number of employees in major subsidiaries is 40,108, resulting in a combined total of 40,260 employees[77] - The company has focused on training core employees, especially leadership and strategically critical talent, to enhance business development and human capital[79] - The company has established a salary growth mechanism linked to business performance and labor productivity, emphasizing performance-based pay adjustments[78] Financial Position and Debt - As of December 31, 2024, the total bank and other borrowings and bonds amounted to RMB 46.786 billion, an increase of RMB 739 million from the beginning of the year[180] - The company's debt ratio was 41.97%, up from 40.67% at the beginning of the year, representing an increase of 1.30 percentage points[184] - The total amount of non-collateral loans as of December 31, 2024, was USD 70 million, EUR 221.714 million, and HKD 815 million, with significant reductions in previous year amounts[180] Acquisitions and Investments - The company completed the acquisition of 100% equity in Ning Sheng Industrial for a cash consideration of RMB 308,242.11 million on October 18, 2024[159] - The company holds various equity stakes in listed companies, with a total investment value of RMB 1,125,900 thousand, reflecting a diverse investment portfolio[162] Customer and Supplier Relations - The company’s top five customers contributed RMB 7.44 billion, accounting for 6.40% of total annual sales, with related party sales amounting to RMB 1.74 billion[134] - The company’s top five suppliers accounted for RMB 4.78 billion in procurement, representing 4.91% of total annual procurement, with related party procurement at RMB 1.69 billion[135]

Business Strategy and Development - The company aims to achieve a market capitalization of 100 billion by establishing three leading brands in fertilisers, melamine, and polyformaldehyde, contributing to its growth strategy [20]. - The Henan base is focused on building a modern chemical park with a goal of enhancing per capita labour efficiency and reducing energy consumption through technological transformation [17]. - The Jiangxi base plans to develop four business sectors: basic chemicals, high-efficiency fertilisers, fine chemicals, and new materials, aiming for industry-leading safety and profitability [19]. - The Xinjiang base targets to become the leading fertiliser brand in the region, with a focus on increasing the quantity and quality of chemical fertilisers and enhancing melamine technology [21]. - The Guangxi base is set to become the most competitive benchmark in South China, concentrating on base construction and industrial chain planning over the next three years [22]. - The company has established scientific research platforms, including the "National Enterprise Technology Centre" and "Postdoctoral Research Station," to support its technology-leading development strategy [34]. - The company reported a commitment to low-cost and differentiated operational strategies to enhance its competitive edge in the fertiliser market [16]. - The company is actively responding to national strategies aimed at increasing efficiency in fertiliser use and promoting soil testing and formula fertilization [34]. - The company has a strategic focus on high-efficiency, high-end, and lean development to solidify its position as a respected fertiliser enterprise in China [15]. - The company emphasizes creating maximum value for society with minimal resources, reflecting its commitment to sustainable development [10]. Financial Performance - Revenue for FY2024 was RMB 23,128 million, a decrease of 1.5% compared to RMB 23,475 million in FY2023 [47]. - Gross profit for FY2024 was RMB 3,931 million, down 6.1% from RMB 4,187 million in FY2023 [47]. - Profit before tax increased by 22.5% to RMB 2,376 million in FY2024, compared to RMB 1,940 million in FY2023 [47]. - Net profit attributable to the parent rose by 23% to RMB 1,459 million in FY2024, up from RMB 1,187 million in FY2023 [47]. - The Group achieved sales revenue of approximately RMB 23,128 million, representing a year-on-year decline of 1% due to declining product prices [97]. - The net profit increased by 23% year-on-year to RMB 2,014 million, with net profit attributable to the parent company also increasing by 23% year-on-year to RMB 1,459 million [97]. Production and Technology - The new large-scale stable urea production unit began operations in February 2024, breaking the monopoly of foreign companies on this technology [52]. - The group standard of "Urea Humic Acid" led by the company passed technical review in May 2024 and was officially promulgated in December [58]. - The company operates under a flexible production mode allowing for adjustments between products, enhancing operational efficiency [40]. - The company was approved for key R&D projects under the national "14th Five-Year" plan for the fourth time in January 2024 [50]. - The Group successfully completed the construction of new projects, including a 60,000 tons polyformaldehyde project and a 300,000 tons compound fertilizer project, enhancing its market capabilities [96]. Market Trends and Challenges - The fertiliser market has entered a downward trend after a high-price phase, prompting the company to enhance its capabilities to cope with market uncertainties [80]. - The fertilizer market is experiencing increased competition due to demand-supply mismatches, environmental pressures, and geopolitical tensions [147][149]. - The rigid demand for fertilizers is expected to steadily grow due to national policies supporting farmland protection and increasing grain yield per unit area [147][149]. - In 2025, domestic nitrogen fertilizer demand and supply is expected to remain stable, with increased sales driven by stronger demand for differentiated products [145]. Employee and Corporate Governance - The Group's employee count increased to 11,787 as of December 31, 2024, up from 10,390 in 2023 [186]. - The Company provides various employee benefits, including medical and life insurance, and discretionary bonuses based on performance [189]. - The Group has complied with all provisions of the Corporate Governance Code during the year ended December 31, 2024 [175]. Shareholder Returns and Dividends - The proposed final dividend is RMB 0.26 per share for the year ended December 31, 2024, an increase from RMB 0.24 per share in 2023, pending shareholder approval [151][156]. - The Company repurchased a total of 6,312,000 shares at a total consideration of HK$24,609,000, representing approximately 0.5% of the issued shares as of December 31, 2024 [180]. - The repurchase of shares was based on the Company's confidence in its long-term business prospects and potential growth [180].

Financial Performance - Profit attributable to shareholders reached HK$1,673 million in 2024, a rise of 5.1% compared to HK$1,592 million in 2023[7]. - Basic earnings per share increased to HK$5.25 in 2024, up from HK$4.99 in 2023, reflecting a growth of 5.2%[7]. - Total dividend distribution for 2024 was HK$669 million, compared to HK$637 million in 2023, marking a 5.0% increase[7]. - The Group's profit attributable to shareholders increased by 5% to HK$1,673 million, driven by higher net interest and non-interest income[60]. - Profit attributable to shareholders rose by 5.1% to HK$1,673.1 million in 2024, up from HK$1,592.1 million in 2023[74]. - Operating income rose by 17.2% to HK$6,934.9 million, driven by higher net interest income and improved asset yields[87]. - The Group's operating profit before credit impairment losses increased by 25.9% to HK$3,767.8 million in 2024, compared to HK$2,993.4 million in 2023[74]. Assets and Liabilities - Total assets decreased to HK$266,523 million in 2024 from HK$269,789 million in 2023, a decline of 1.0%[7]. - The total liabilities, including subordinated notes, were HK$223,325 million in 2024, down from HK$228,790 million in 2023, a decrease of 2.4%[7]. - The consolidated Common Equity Tier 1 ratio increased to 16.9% as of December 31, 2024, up from 16.2% at the end of 2023[96]. Deposits and Loans - Total deposits decreased to HK$204,894 million in 2024 from HK$208,963 million in 2023, a decline of 2.6%[7]. - Advances to customers (excluding trade bills) were HK$138,374 million in 2024, down from HK$143,049 million in 2023, a decrease of 3.7%[7]. - Customer deposits rose from HK$206,535 million in 2023 to HK$200,599 million in 2024, indicating a slight decrease of 2.0%[7]. - Loan growth was weak, with overall loan balances declining by 3% due to subdued demand in core markets[61]. - The total loan volume in Hong Kong dropped by approximately 3% year-on-year, with refinancing being the primary driver of loan demand[120]. Economic Environment - The economic growth in Hong Kong for 2024 is expected to be moderate, influenced by high interest rates affecting loan demand and consumer confidence[65]. - Hong Kong's economic growth slowed to 2.5% in 2024 from 3.2% in 2023, impacted by weak domestic demand[78]. - Geopolitical risks, including the Russia-Ukraine war and US-China trade conflicts, have dampened economic growth and reduced international trade activities[196]. Governance and Leadership - The company has a strong board with members holding significant experience in finance, banking, and regulatory affairs[27][28][29][31][32][33]. - The company is focused on maintaining high standards of governance and compliance through its independent directors[28][32]. - The leadership team is well-positioned to navigate market challenges and pursue growth opportunities in the banking industry[41]. - The company continues to strengthen its board with experienced professionals from diverse banking backgrounds, enhancing strategic decision-making capabilities[39][41]. Risk Management - The Group maintained a prudent approach to expense control and risk management amidst a high interest rate environment[54]. - Credit impairment charges surged by 145.0% year-on-year, primarily due to increased provisions for credit losses in the Mainland China property sector and Hong Kong commercial real estate[89]. - The Group employs Expected Credit Loss (ECL) models to assess impairment provisions, considering macroeconomic factors and risk characteristics[197]. - The Group's fraud risk management framework includes a dedicated team to improve fraud awareness and prevention in a rapidly changing market[200]. Insurance and Investment Operations - Insurance revenue increased by 19.3% to HK$1,154 million in 2024, up from HK$967 million in 2023[166]. - The Group's insurance operations faced risks from natural disasters, but the impact on financial position was immaterial due to prudent underwriting and reinsurance arrangements[199]. - The solvency ratio of Macau Insurance Company (MIC) was 919% in 2024, down from 1,288% in 2023[175]. - DSI achieved gross premium written (GPW) of HK$916 million, with a compound annual growth rate of over 10% from 2019 to 2024 and a year-on-year growth of 9%[186]. Digital Transformation and Customer Experience - Digital transactions surged by 42% year-on-year in 2024 due to enhancements in the "Next Best Action" AI solution and the launch of a streamlined identity verification service for SMEs[112]. - The bank continues to focus on enhancing digital solutions and improving customer experience through system upgrades and process changes[131][138]. - The bank's strategy includes gradually renovating and relocating branches to enhance customer service and digital experience, while transitioning to paperless operations[113].

Financial Performance - The company reported a revenue of $500 million for the fiscal year 2023, representing a 20% increase compared to the previous year[1]. - Total revenue for 2023 was RMB 1,056,033 thousand, a decrease of 30.8% compared to 2022[11]. - Gross profit for 2023 was RMB 702,405 thousand, down 32.7% from RMB 1,044,114 thousand in 2022[11]. - The company reported a net loss of RMB 138,120 thousand for 2023, compared to a profit of RMB 25,111 thousand in 2022[11]. - The total revenue for the year ended December 31, 2024, was approximately RMB 1,162.8 million, representing a year-on-year growth of about 10.1%[20]. - The net loss for the year was approximately RMB 48.9 million, narrowing by about 64.6% compared to the previous year[20]. - Adjusted net loss for the year was approximately RMB 42.8 million, narrowing by about 67.8% year-on-year[20]. - Game revenue accounted for 99.9% of total revenue in 2024, amounting to RMB 1,162.1 million, which is a 10.1% increase from RMB 1,055.4 million in 2023[54]. - Gross profit for the year ended December 31, 2024, was RMB 813.5 million, a 15.8% increase from RMB 702.4 million in 2023, with a gross margin of 70.0%, up 3.5 percentage points from 66.5%[58]. User Growth and Market Expansion - User data showed a growth of 1 million active users, reaching a total of 10 million active users by the end of Q4 2023[1]. - Market expansion plans include entering three new international markets by Q3 2024, aiming for a 15% increase in user base[1]. - The company aims to deepen its market presence in both female-oriented and male-oriented gaming segments, targeting diverse user groups[13]. - Revenue from mainland China reached RMB 897.5 million, accounting for 77.2% of total game revenue, up from 68.3% in 2023, representing a 24.6% year-on-year increase[55]. Product Development and Innovation - New product launches included two major game titles, which are projected to contribute an additional $50 million in revenue in 2024[1]. - The company plans to launch multiple new games in 2024, including "墨劍江湖" and several lightweight games, to expand its product matrix[13]. - The launch of "Floating Life Memories" in January 2024 and "Ink Sword Jianghu" in July 2024 contributed significantly to revenue growth, with a sequential revenue increase of approximately 20.7% in the first half and 21.0% in the second half of 2024[20]. - The company is focusing on integrating AI technology across its development, publishing, and operations processes to enhance efficiency and user experience[14]. - The company is focusing on the development of an AI productivity engine to automate various aspects of game production, significantly reducing labor costs and production cycles[44]. Financial Strategy and Shareholder Value - The board approved a share buyback program worth $20 million to enhance shareholder value[1]. - The company has adopted a dividend policy, considering factors such as operating performance, cash flow, and future prospects when determining dividend levels[141]. - The board does not recommend the payment of dividends for the year ending December 31, 2024, consistent with the previous year[164]. Corporate Governance and Management - The company has a strong management team with over 20 years of experience in the gaming industry, including key figures like Mr. Sun Bo, who is the Executive Director and Vice President[92]. - The company has established a strong governance structure with independent directors responsible for monitoring the board and providing independent advice[96]. - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors[112]. - The company has established a risk management and internal control system to manage risks associated with achieving business objectives, ensuring reasonable assurance against significant misstatements or losses[144]. Corporate Social Responsibility - The company has strengthened its commitment to corporate social responsibility, ensuring user data protection and actively participating in educational support initiatives in remote areas[17]. - The company has implemented environmental protection measures and encourages employees to conserve resources[169]. - The board is committed to integrating environmental, social, and governance (ESG) principles into business operations, overseeing related risks and opportunities[147]. Strategic Focus and Future Outlook - The company continues to focus on a "premium, diversified, and global" strategy, enhancing user engagement through frequent updates and localized content[21]. - The company aims to deepen its strategic layout in the coming year, focusing on innovation, technology integration, and industry ecosystem collaboration[17]. - The company plans to continue its global development strategy, focusing on regional depth and category breakthroughs in game offerings[51].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 709,405,000, a decrease of 16.6% compared to RMB 850,733,000 in 2023[5] - Profit before tax for 2024 was RMB 5,458,000, down 94.4% from RMB 97,528,000 in 2023[5] - Net profit attributable to shareholders for 2024 was RMB 39,734,000, a decline of 63.4% from RMB 108,627,000 in 2023[5] - The company's revenue decreased by 17% year-on-year during the reporting period[34] - The company's revenue for the fiscal year 2024 was approximately RMB 709,405 thousand, a decrease of 17% compared to RMB 850,733 thousand in 2023, primarily from core business operations[55] - Revenue from the sale of medical and diagnostic products in 2024 was RMB 709,378 thousand, accounting for 99.9963% of core business revenue, also down 17% from RMB 850,564 thousand in 2023[57] - The net profit for 2024 was approximately RMB 39,434 thousand, a decline of about 64% from RMB 108,450 thousand in 2023, with a net profit margin of 6% compared to 13% in the previous year[67] - Sales revenue from Aira® decreased by 13% compared to the same period last year[35] - Sales revenue from Libod® declined by 28% year-on-year[36] - Sales revenue from Fumida® dropped by 4% compared to the previous year[37] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 2,586,503,000, a decrease of 10.1% from RMB 2,876,688,000 in 2023[6] - Total liabilities for 2024 were RMB 281,226,000, down 45.4% from RMB 518,124,000 in 2023[6] - The company has a cash and cash equivalents balance of approximately RMB 1,056,286 thousand as of December 31, 2024, down from RMB 1,195,896 thousand as of December 31, 2023[78] - The company has no outstanding bank financing as of December 31, 2024, indicating a debt-free status[75] Research and Development - The company plans to strategically focus on the development and industrialization of photodynamic therapy technology, leveraging its competitive advantages in this area[11] - The company aims to accelerate the research and industrialization of antibody-drug conjugates (ADCs), despite the competitive landscape in this field[11] - The company has established multiple technology platforms, including gene engineering and nanotechnology, to support ongoing drug development projects[10] - The company emphasizes a balanced approach between innovation and industrialization, as well as research and marketing[12] - Research and development expenses increased by 29% to RMB 314,162 thousand in 2024, up from RMB 243,763 thousand in 2023, reflecting a commitment to ongoing R&D projects[60] - The company is focusing on research and development in its advantageous fields, including photodynamic technology and nanotechnology[43] - The company is committed to continuous innovation and the development of new projects to provide valuable treatment options for patients[43] - The company has made significant progress in R&D, including the initiation of clinical trials for multiple drug candidates targeting various cancers and diseases[51] Clinical Trials and Product Development - The current pipeline includes photodynamic therapy (PDT) and photodynamic diagnosis (PDD), targeting conditions such as cervical precancerous lesions and breast cancer[14] - The photodynamic treatment for severe acne using aminolevulinic acid (ALA) has completed Phase II clinical trials, with results presented at the European Society for Dermatological Research meeting[20] - The clinical study for ALA in treating cervical precancerous lesions has completed Phase II trials and will soon enter Phase III trials, aiming for new indication registration[19] - The company is developing intraoperative molecular imaging (IMI) technology for real-time tumor visualization during surgeries, particularly for gliomas and bladder cancer[16] - The clinical trial for the use of aminolevulinic acid hydrochloride granules in non-muscle invasive bladder cancer (NMIBC) surgery has received approval, with the first subject enrolled during the reporting period[22] - The clinical trial for the use of aminolevulinic acid hydrochloride granules in breast-conserving surgery for breast cancer has also received approval, addressing a significant clinical need in real-time tumor margin assessment[24] - The global first photodynamic drug for treating infantile hemangioma, Heimofen, has completed the enrollment of the first subject in its Phase II clinical trial in the U.S.[25] - The first antibody-drug conjugate (ADC) developed by the company, targeting CD30, has had its Phase I clinical trial results presented at the American Society of Hematology meeting, although its advancement has been temporarily paused due to strategic considerations[27] - The second ADC targeting Trop2 for triple-negative breast cancer and other tumors has completed the enrollment of the first subject in its Phase III clinical trial for triple-negative breast cancer[28] Market and Industry Trends - The global pharmaceutical market is expected to exceed USD 1.1 trillion in 2024, with a projected compound annual growth rate of 3-6% until 2026[49] - By 2025, the Chinese pharmaceutical market is estimated to reach RMB 2.1 trillion, with the biopharmaceutical market expected to account for 48% of this[49] - The global biopharmaceutical industry is undergoing profound changes driven by new technologies, with a shift towards patent cooperation and mergers and acquisitions[50] - The Chinese pharmaceutical industry is a strategic emerging industry, with a focus on accelerating the development of innovative drugs and biomanufacturing as new growth engines[131] - The market for broad skin disease treatment and care in China grew from RMB 300.4 billion in 2017 to RMB 471.8 billion in 2021, with a compound annual growth rate of 11.95%[132] - The incidence of skin diseases is increasing, with a significant rise in the number of patients and treatment visits, indicating a growing market demand[132] Corporate Governance and Financial Policies - The company has established a robust corporate governance structure to enhance transparency and accountability, thereby protecting shareholder interests and boosting investor confidence[190] - The company has implemented a stable and proactive profit distribution policy since 2015, prioritizing cash dividends when profits are available[170] - The company plans to maintain a cash dividend ratio of no less than 10% of the distributable profits in the first three years post-IPO[170] - The company has a conservative financial policy to ensure that its assets do not bear unnecessary risks, with no outstanding bank loans as of the reporting date[79] Employee and Management Information - The employee cost for the year 2024, including director remuneration, was RMB 232,115 thousand, compared to RMB 238,468 thousand in 2023[82] - The company has not provided employee dormitories during the year, and details regarding housing provident funds are included in the financial statements[188] - The company has purchased liability and indemnity insurance for directors and senior management, covering responsibilities related to both H-shares and A-shares listings[199]

| 釋義 | 2 | | --- | --- | | 董事長報告書 | 4 | | 公司資料 | 7 | | 管理層討論與分析 | 8 | | 企業管治報告 42 | | | 董事、監事、高級管理人員簡介 67 | | | 董事會報告 70 | | | 監事會報告 110 | | | 按中國企業會計準則編製的報表 113 | | 釋義 本公告以中英文刊登，如中英文版本有任何歧義，以中文版為準。 在本報告中，除非文意另有所指，下列詞語或詞組具有如下含義： | 公司章程 | 指 | 本公司現行有效的公司章程 | | --- | --- | --- | | 我們，本公司，公司， | 指 | 海信家電集團股份有限公司，一家在中國註冊成立的股份有限公司，其 | | 海信家電 | | 股份於香港聯交所主板及深圳證券交易所上市 | | 海信空調 | 指 | 青島海信空調有限公司，一家在中國註冊成立的有限公司，由海信集團 | | | | 間接控制，持有本公司已發行股份約37.28% | | 海信財務 | 指 | 海信集團財務有限公司，一家在中國註冊成立的有限公司，為海信集團 | | | | 的附屬公司 | | 海信集團 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不因本公告全部或任何部份內容而產 生或因依賴該等內容而引致的任何損失承擔任何責任。 第一季度業績公告 上海復旦張江生物醫藥股份有限公司（「本公司」，聯同其附屬公司，「本集團」）之董 事會（「董事會」）欣然宣佈本公司及其附屬公司截至二零二五年三月三十一日止三個月 期間（「本報告期」）按照中國企業會計準則編製的未經審計財務資料（「第一季度業績 公告」）。本公告乃根據香港法例第 571 章證券及期貨條例第 XIVA 部項下內幕消息條文 及香港聯合交易所有限公司（「聯交所」）證券上市規則第 13.09(2)和第 13.10B 條的要求 作出。 主要財務數據 主要會計數據和財務指標 | | | | 單位：元 幣種：人民幣 | | | | --- | --- | --- | --- | --- | --- | | 項目 | 本報告期 | 上年同期 | 本報告期比上年同期 | | | | | | | 增減變動幅度(%) | | | | 營業收入 | 179,906,064 | 147,647,109 | ...

Financial Performance - In 2024, the Group's revenue was RMB 3,706,198, a decrease of 48.6% compared to RMB 7,192,853 in 2023[21]. - The gross profit for 2024 was RMB 104,039, down 77.3% from RMB 458,003 in 2023[21]. - The Group reported a loss attributable to owners of the parent of RMB 227,084 in 2024, compared to a profit of RMB 111,906 in 2023[21]. - Current assets decreased to RMB 3,187,190 in 2024 from RMB 4,738,265 in 2023, a decline of 32.7%[21]. - The net assets of the Group were RMB 962,432 in 2024, down from RMB 1,193,109 in 2023[21]. - The Group's revenue decreased by 48.5% from approximately RMB 7,192.9 million in 2023 to approximately RMB 3,706.2 million in 2024 due to reduced external shipment volume and a sharp decline in photovoltaic module prices[142]. - The total external shipment volume of photovoltaic modules decreased from 6,683.1 MW in 2023 to 4,576.2 MW in 2024, reflecting a significant reduction in market activity[135]. - Gross profit fell to approximately RMB104.0 million in 2024, down 77.3% from RMB458.0 million in 2023, with gross profit margin decreasing from 6.4% to 2.8%[147]. - Loss attributable to owners of the parent was approximately RMB227.1 million in 2024, compared to a profit of approximately RMB111.9 million in 2023, mainly due to decreased revenue and gross profit[159]. Market Dynamics - The photovoltaic industry is experiencing a slowdown in new installations, but emerging markets are showing strong demand, providing new growth opportunities[61]. - The photovoltaic industry is recognized as the most cost-effective source of electricity in many regions, driving continued demand growth for photovoltaic products[104]. - Trade protectionism is intensifying in major photovoltaic markets, posing threats to China's foreign trade exports driven by price advantages[77]. - The prices of silicon materials, silicon wafers, cells, and modules have all seen considerable declines, putting pressure on the gross profit margins across various segments[66]. - Emerging markets, particularly in the Middle East and Asia-Pacific, are showing strong demand growth, compensating for the slowdown in traditional markets like the US and Europe[65]. - The photovoltaic industry is expected to see stable growth in 2025 as inventory levels in Europe are digested, with emerging markets in the Middle East and Africa becoming new growth points[188]. Technological Advancements - The Group is committed to enhancing technological reserves and has partnered with West Lake University for research on perovskite technology[39][42]. - The Group's focus on high-efficiency monocrystalline products has positioned it as a leader in the photovoltaic market[116]. - The Group is conducting research on N-type HJT technology, perovskite technology, BIPV products, and offshore floating modules to upgrade mass production technology and expand market sales[139]. - The Group plans to increase R&D and production of multiple varieties of 8-inch semiconductor monocrystalline silicon and 13-15 inch semiconductor monocrystalline silicon by 2025 to meet chip market demand[129]. - The Group has signed an industry-school cooperation agreement with Southeast University to enhance R&D in zero-carbon buildings and BIPV technology, aiming to improve photoelectric conversion efficiency and reduce production costs[126]. Strategic Initiatives - The Group plans to strengthen cooperation with state-owned enterprises and improve its overseas business layout to achieve profit targets in 2025[38][41]. - The Group aims to establish a digital information factory and improve the ERP system to enhance operational efficiency and management levels[46]. - The Group's operational strategy includes a flexible sales and marketing approach to balance inventory levels and sales[141]. - The Group aims to enhance core competitiveness through strategic collaboration and technological innovation, focusing on domestic and international markets[194]. - The international strategy includes a "large customers + localization" dual-drive approach, with a focus on Southeast Asia and Central and Eastern Europe for market expansion[194]. Production Capacity and Efficiency - As of December 2024, the Group's module production capacity was 10.2GW[13]. - The output of the Jinzhou and Jianhu bases showed steady growth, with well-controlled yield and fragmentation rates, contributing to cost reduction and efficiency improvement[40][43]. - The Group aims to optimize its production capacity layout to enhance overall competitiveness and profitability amid improving supply-demand dynamics[103]. - The Group's production lines are capable of producing large-size products (182 mm and 210 mm), which are becoming the mainstream in the market, enhancing shipment volume and gross profit margin potential[139]. - The Group is investing in upgrading existing production capacity and facilities to align with technological advancements and improve production efficiency[130]. Financial Health and Management - The Group's current ratio improved to 1.2 from 1.1 in the previous year, indicating better short-term financial health[174]. - The net debt to equity ratio as of December 31, 2024, was 17.9%, a significant improvement from -59.7% in the previous year, indicating a shift towards a more leveraged position[174]. - The Group reported a net cash inflow from operating activities of approximately RMB 180.9 million in 2024, a significant turnaround from a net cash outflow of RMB 692.1 million in 2023[175]. - Administrative expenses reduced to approximately RMB220.0 million in 2024 from RMB279.0 million in 2023, due to enhanced operational efficiency and cost control measures[149]. - The Group is establishing a comprehensive risk management system to address price fluctuations, policy, and technological risks[194]. Market Expansion and Customer Base - The Group achieved sales of RMB 533 million from overseas orders, successfully entering new markets such as Kenya and Ukraine despite rising trade protectionism[34][36]. - The domestic sales team added 16 new customers, whose orders accounted for 43% of the annual sales volume, contributing to an increased market share of the Group's own brands[33][36]. - The Group's module sales are primarily directed towards large state-owned enterprises and international corporations, enhancing its market presence[121]. - The Group plans to establish localized production bases and R&D centers in target markets to adapt to changing demand structures and effectively respond to trade protection barriers[107]. Environmental and Regulatory Context - In 2024, global clean energy investment exceeded USD 2.0 trillion, about twice the total investment in fossil energy, indicating a strong shift towards energy transition[60]. - By 2030, G20 countries need to significantly enhance their renewable energy capacity, with a target of 9,400 GW, reflecting the urgent need for energy transition[100]. - The photovoltaic industry is expected to experience broader development opportunities due to the deepening of "dual carbon" goals and the acceleration of global energy transition[194].

( 於開曼群島註冊成立的有限公司 ) 股份代號：1490 車市科技有限公司 2024 年度報告 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 4 | | 主席致辭 | 5 | | 管理層討論與分析 | 9 | | 董事及高級管理層 | 16 | | 董事會報告 | 21 | | 企業管治報告 | 45 | | 獨立核數師報告 | 61 | | 綜合損益表 | 67 | | 綜合全面收益表 | 68 | | 綜合財務狀況表 | 69 | | 綜合權益變動表 | 71 | | 綜合現金流量表 | 73 | | 財務報表附註 | 75 | | 釋義 | 168 | 公司資料 董事 執行董事 徐翀先生 （主席兼首席執行官） 劉磊先生 林渝奇先生 張男女士 （於2024年12月6日獲委任） 獨立非執行董事 徐向陽先生 李明先生 （於2024年3月26日退任） 吳浩雲先生 孫勇先生 （於2024年3月26日獲委任） 審核委員會 吳浩雲先生 （主席） 徐向陽先生 李明先生 （於2024年3月26日退任） 孫勇先生 （於2024年3月26日獲委任） 薪酬委員會 徐向陽先生 （主席） 林渝奇先生 ...

2024 年 報 SOHO 中國有限公司 年報 2024 SOHO 中 國 SOHO中 國 有 限 公 司（「本 公 司」、「公 司」、「SOHO中 國」或「我 們」） 的 董 事（「董 事」）會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（合 稱「本 集 團」）截 至2024年12月31日 止 年 度（「本 年 度」）的 經 審 核 綜合年度業績，連同截至2023年12月31日止年度之比較數字。 目 錄 主席報告 2 業務回顧 3 管理層討論及分析 11 董事會報告 13 企業管治報告 28 公司資料 43 獨立核數師報告 45 主席報告 回顧過去的2024年，SOHO中國經歷了充滿挑戰的一年。2024年，我們最值得稱道的成績， 就 是 在 行 業 下 行 的 環 境 中，努 力 維 持 了 運 營 的「平 穩」，這 看 似 平 淡，卻 凝 聚 了 大 家 的 共 同付出。 寫 字 樓 出 租 率 是 經 濟 環 境 的 晴 雨 表。2024年 的 寫 字 樓 租 賃 市 場「以 價 換 量」是 主 基 調， 租金水平持續下降。北京、上海甲級寫字樓空置率攀升至近年的高點，市場競爭空前 ...