Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was RMB 746,140,000, a decrease of 5.1% compared to RMB 786,110,000 in 2023[3] - Gross profit for the year was RMB 322,068,000, down from RMB 345,870,000, reflecting a gross margin of approximately 43.2%[3] - Net profit for the year increased to RMB 37,918,000, representing a growth of 37.0% from RMB 27,675,000 in the previous year[4] - Basic and diluted earnings per share rose to RMB 1.78, compared to RMB 1.28 in 2023, marking a 39.1% increase[4] - Total comprehensive income for the year was RMB 53,747,000, down from RMB 80,518,000, indicating a decline of 33.3%[5] - Revenue from North America for the fiscal year 2024 was RMB 721,233,000, a decrease from RMB 755,123,000 in 2023, reflecting a decline of approximately 4.5%[20] - Total revenue for the year ended December 31, 2024, was approximately RMB 746.1 million, a decrease of RMB 40.0 million compared to RMB 786.1 million for the year ended December 31, 2023[34] Assets and Liabilities - Non-current assets totaled RMB 481,780,000, slightly down from RMB 484,004,000 in 2023[6] - Current assets increased to RMB 1,406,021,000 from RMB 1,332,877,000, reflecting a growth of 5.5%[6] - The company reported total assets as of December 31, 2024, amounted to RMB 1,887,801,000, with the China lighting segment holding RMB 364,606,000 and the US segment holding RMB 359,899,000[17] - The total liabilities for the group were RMB 271,404,000, with the US lighting segment accounting for RMB 193,973,000 of this total[17] - Total liabilities as of December 31, 2024, were approximately RMB 271.4 million, up from RMB 254.2 million as of December 31, 2023[45] Operational Highlights - The company continues to focus on manufacturing and trading lighting products, as well as providing lighting solutions[11] - The China lighting segment generated revenue of RMB 67,477,000, while the US lighting segment contributed RMB 678,663,000, indicating a significant reliance on the US market[17] - The adjusted profit before tax for the US lighting segment was RMB 30,158,000, while the China segment reported a loss of RMB 4,564,000, highlighting performance disparities between regions[18] - The lighting division's revenue experienced a slight decline compared to the previous year, but profitability increased, primarily due to optimized procurement strategies in the U.S. lighting division[57] Income and Expenses - The cost of sold inventory decreased to RMB 419,993,000 in 2024 from RMB 444,785,000 in 2023, reflecting a reduction of 5.6%[23] - Research and development costs increased to RMB 6,410,000 in 2024 from RMB 5,609,000 in 2023, marking a rise of 14.3%[23] - Total financial costs decreased to RMB 1,332,000 in 2024 from RMB 1,532,000 in 2023, a decline of 13.0%[24] - The income tax expense for 2024 was RMB 10,154,000, down from RMB 13,705,000 in 2023, indicating a decrease of 26.5%[24] - Other income increased to RMB 52,366,000 in 2024 from RMB 46,190,000 in 2023, representing a growth of 4.5%[22] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the annual performance for the year ending December 31, 2024, and confirmed that the financial statements comply with applicable accounting standards[66] - The company has committed to good corporate governance practices and has adhered to the corporate governance code throughout the reporting period[64] - The company has maintained a public float of at least 25% of its issued share capital as required by the listing rules throughout the reporting period[70] - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance by all directors for the reporting period[65] Employee and Operational Changes - The total number of employees as of December 31, 2024, is 453, down from 472 as of December 31, 2023[61] - The company has not made any significant investments or acquisitions during the review period and has no detailed future plans for major investments or capital assets as of December 31, 2024[55] Dividends and Share Capital - No dividends were recommended for the years ended December 31, 2024, and December 31, 2023[32] - As of December 31, 2024, the company's issued share capital is approximately RMB 185,672,000, equivalent to about HKD 209,447,000, divided into 2,094,465,417 shares of HKD 0.10 each[50]
同方友友(01868) - 2024 - 年度业绩