Financial Performance - The consolidated revenue for the year ended December 31, 2024, was approximately RMB 8,963,208,271.72, representing a growth of about 12.48% compared to the previous year[3]. - The profit attributable to equity holders of the company for the year ended December 31, 2024, was approximately RMB 59,943,006.45, an increase of about 6.19% from RMB 56,446,864.92 in 2023[3]. - The basic earnings per share for the year ended December 31, 2024, was RMB 0.37, up from RMB 0.35 in 2023[3]. - The company's operating revenue for the current period reached RMB 8,963,208,271.72, an increase of 28.5% compared to RMB 7,968,998,231.49 in the previous period[6]. - Operating profit for the current period was RMB 93,496,338.08, representing a 24.4% increase from RMB 75,145,550.18 in the previous period[6]. - Net profit attributable to shareholders of the parent company was RMB 59,943,006.45, up 6.6% from RMB 56,446,864.92 in the previous period[6]. - Total comprehensive income for the current period was RMB 70,435,240.80, an increase from RMB 57,605,939.66 in the previous period[6]. Dividends and Equity - The board of directors proposed a final cash dividend of RMB 0.20 per share for 2024, unchanged from 2023[3]. - The total equity attributable to equity holders of the company as of December 31, 2024, was RMB 2,047,499,190.00, compared to RMB 2,016,253,323.93 at the end of the previous year[5]. - The company's total equity attributable to shareholders at year-end was RMB 2,206,646,118.42, an increase from RMB 2,189,563,844.65 in the previous year[8]. - The company distributed dividends totaling RMB 32,451,133.71 to shareholders, reflecting a commitment to return value to investors[8]. Assets and Liabilities - Total current assets as of December 31, 2024, amounted to RMB 3,830,000,817.43, compared to RMB 3,669,906,941.54 at the end of the previous year[4]. - Total liabilities as of December 31, 2024, were RMB 2,990,079,928.74, compared to RMB 2,984,847,923.87 at the end of the previous year[5]. - The total assets as of December 31, 2024, were RMB 5,196,726,047.16, an increase from RMB 5,174,411,768.52 in the previous year[5]. - The cash and cash equivalents increased to RMB 995,091,926.76 from RMB 882,939,512.98 in the previous year[4]. Cash Flow - The total cash inflow from operating activities reached RMB 10,882,209,533.75, an increase of 17.4% compared to the previous period's RMB 9,270,067,602.42[7]. - The net cash flow from operating activities was RMB 360,571,277.69, significantly up from RMB 197,818,960.93 in the prior period, marking an increase of 82.0%[7]. - Cash outflow for purchasing goods and services amounted to RMB 9,364,117,242.31, which is a 29.0% increase from RMB 7,256,600,250.97 in the previous year[7]. - Cash inflow from financing activities totaled RMB 79,643,581.00, a decrease from RMB 758,362,267.00 in the prior year[7]. Accounts Receivable - The company reported a significant increase in accounts receivable, which rose to RMB 1,627,248,472.38 from RMB 1,466,849,212.92 in the previous year[4]. - The total accounts receivable balance as of December 31, 2024, is RMB 1,721,285,081.64, an increase from RMB 1,559,786,303.24 at the end of the previous year, representing a growth of approximately 10.3%[169]. - The overdue accounts receivable amount is RMB 82,760,000.00, compared to RMB 79,534,000.00 as of December 31, 2023, indicating an increase of about 2.8%[170]. - The provision for bad debts is RMB 94,036,609.26, which is 5.46% of the total accounts receivable[171]. Research and Development - Research and development expenses decreased to RMB 23,011,712.49 from RMB 26,803,369.07, a reduction of 14.5%[6]. - The company allocates R&D expenses, including salaries, direct costs, and depreciation, based on project hours and shared resources[99]. Financial Instruments and Credit Losses - The group measures expected credit losses based on the weighted average of credit loss risks associated with financial instruments[51]. - Expected credit losses are calculated as the present value of the difference between all contractual cash flows receivable and the expected cash flows[51]. - The company assesses expected credit losses based on default risk exposure and anticipated loss rates over the next 12 months for other receivables[58]. Taxation - The group has a corporate income tax rate of 15% for several subsidiaries, including Chongqing Chang'an Minsheng Logistics Co., Ltd.[162]. - The group benefits from a reduced corporate income tax rate of 15% for high-tech enterprises, applicable to Chongqing Changzu Feiyue Technology Co., Ltd.[165]. - The group is subject to various tax rates, including a 25% corporate income tax rate for some subsidiaries[166]. Inventory and Contract Assets - The inventory at the end of the period is CNY 14,090,076.83, a decrease from CNY 28,876,115.92 at the end of the previous year[182]. - The contract assets at the end of the period total CNY 433,477,516.14, with a provision for impairment of CNY 836,710.93[183]. - The expected credit loss rate for the contract assets is 0.19%, with a total book value of CNY 432,640,805.21 after impairment[183]. Fixed Assets and Investments - Fixed assets at the end of the period amounted to RMB 588,239,961.64, a decrease of 19.3% from RMB 728,808,090.70 at the end of the previous year[191]. - The total value of fixed assets decreased by RMB 140,130,383.16, reflecting significant asset disposals during the year[191]. - The company recognized an impairment loss of RMB 42,029,948.15 for its 31% equity stake in Chongqing Orchard Roll-on Terminal Co., Ltd., with a recoverable amount of RMB 28,200,000.00, which is lower than the carrying value[185]. Intangible Assets - The total intangible assets at the end of the period amounted to RMB 489,847,540.20, a decrease from RMB 498,563,764.08 at the beginning of the period, reflecting a reduction of approximately 1.43%[196]. - The accumulated amortization for intangible assets increased by RMB 24,305,240.48 during the period, resulting in a total of RMB 240,196,954.12 at the end of the period[196]. Changes in Accounting Policies - Changes in significant accounting policies include the issuance of Interpretation No. 17 by the Ministry of Finance in November 2023[156]. - The group will implement Interpretation No. 17 starting from January 1, 2024, and will adjust comparable period information accordingly[158].
长安民生物流(01292) - 2024 - 年度业绩