Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 409.62 million, representing a 37.6% increase from RMB 297.53 million in 2023[3]. - Gross profit for the same period was RMB 49.72 million, up from RMB 20.18 million, indicating a significant improvement in profitability[3]. - The net profit for the year was RMB 2.98 million, a turnaround from a net loss of RMB 2.36 million in 2023[3]. - For the year ended December 31, 2024, total revenue from external customers reached RMB 409,620,000, an increase from RMB 297,530,000 in 2023, representing a growth of approximately 37.5%[18][19]. - The revenue from the production and sale of wooden products was RMB 407,382,000 for 2024, compared to RMB 295,084,000 in 2023, indicating a growth of about 37.9%[18][19]. - The company reported a net profit of RMB 2,983,000 for the year ended December 31, 2024, recovering from a net loss of RMB 2,364,000 in 2023[18][19]. - Total revenue for the group increased by 37.7% to RMB 409.6 million in 2024, compared to RMB 297.5 million in 2023[46]. - Gross profit increased to approximately RMB 49.7 million in 2024, with a gross margin of 12.1%, up from RMB 20.2 million and a gross margin of 6.8% in 2023[47]. Assets and Liabilities - The company reported a total current asset value of RMB 758.23 million, an increase from RMB 515.11 million in 2023[5]. - Current liabilities rose to RMB 207.48 million from RMB 165.20 million, reflecting increased operational activities[6]. - The total non-current assets decreased to RMB 452.60 million from RMB 539.63 million, primarily due to depreciation[5]. - The total assets increased to RMB 1,210,828,000 in 2024 from RMB 1,054,741,000 in 2023, reflecting a growth of approximately 14.8%[20]. - The total liabilities rose to RMB 335,972,000 in 2024, up from RMB 182,369,000 in 2023, marking an increase of about 84.5%[20]. - Trade receivables increased to RMB 95,303 thousand in 2024 from RMB 62,181 thousand in 2023, reflecting a growth of approximately 53.3%[35]. - Total trade and other receivables rose to RMB 157,009 thousand in 2024, up from RMB 113,143 thousand in 2023, marking an increase of about 38.8%[35]. - Trade payables surged to RMB 85,309 thousand in 2024, compared to RMB 32,505 thousand in 2023, representing a growth of approximately 162.5%[37]. - The company has bank financing agreements totaling RMB 241,400 thousand in 2024, a significant increase from RMB 111,900 thousand in 2023[39]. Expenses and Costs - Interest expenses on bank loans increased to RMB 3,860,000 in 2024 from RMB 1,331,000 in 2023, indicating a rise of approximately 189.5%[24]. - Employee costs, excluding director remuneration, rose to RMB 29,405,000 in 2024 from RMB 19,692,000 in 2023, representing an increase of about 49.5%[25]. - Administrative expenses increased to RMB 37.6 million in 2024, up from RMB 31.8 million in 2023, primarily due to increased R&D expenditures[51]. - The company reported a foreign exchange loss of RMB 21,822,000 in 2024, compared to a gain of RMB 10,296,000 in 2023[23]. Tax and Other Income - The company's income tax expense for 2024 was RMB (7,184) thousand, compared to RMB 466 thousand in 2023, indicating a significant increase in tax credits or reductions[9]. - Other income rose to RMB 30.2 million in 2024, compared to RMB 24.8 million in 2023, primarily from bank interest and government subsidies[48]. - The company received government subsidies of RMB 423,000 in 2024, a significant decrease from RMB 3,966,000 in 2023[22]. Shareholder Information - The basic earnings per share for the year was RMB 0.03, compared to a loss per share of RMB 0.03 in 2023[4]. - The average number of ordinary shares for calculating basic and diluted earnings per share remained constant at 92,137,051 for both 2024 and 2023[32]. - The board of directors did not recommend a final dividend for the year ending December 31, 2024[67]. Corporate Governance and Compliance - The audit committee reviewed the group's annual performance for the reporting year[65]. - The group has maintained compliance with corporate governance codes, with deviations noted in meeting frequency and information updates to the board[62][63]. - The group has not purchased, sold, or redeemed any listed securities during the reporting year[61]. - There were no significant events occurring after the reporting period[59]. - The group has not granted any share options since the adoption of the share option scheme on June 15, 2012[58]. Market Position and Strategy - The global wooden products industry is experiencing transformative growth driven by increasing demand for sustainable building materials and eco-friendly consumer goods[60]. - The group has a strategic advantage in the bioenergy and wooden products sectors, anticipating further revenue enhancement in the coming years[60]. - The group is well-positioned to capitalize on the shift towards a circular economy, aligning with global decarbonization goals[60].
中科生物(01237) - 2024 - 年度业绩