Financial Performance - Revenue for the year ended December 31, 2024, was RMB 278,822 thousand, an increase of 13.6% from RMB 245,495 thousand in 2023[4] - Gross profit for 2024 was RMB 38,869 thousand, up from RMB 37,091 thousand in 2023, reflecting a gross margin of 13.9%[4] - The company reported a loss before tax of RMB 96,068 thousand for 2024, compared to a loss of RMB 70,971 thousand in 2023, indicating a deterioration in financial performance[4] - The net loss attributable to owners of the company for 2024 was RMB 92,463 thousand, compared to RMB 69,159 thousand in 2023, representing a 33.8% increase in losses[8] - Basic and diluted loss per share for 2024 was RMB (10.44), compared to RMB (8.79) in 2023, indicating a worsening loss per share[7] - The company recorded a pre-tax loss of RMB 96.1 million in 2024, compared to a pre-tax loss of RMB 71.0 million in 2023[83] - Annual loss expanded by 33.4% to RMB 93.0 million, influenced by losses from equity investments and increased operating expenses[85] Revenue Breakdown - Software development services generated RMB 243,195 thousand in 2024, up from RMB 179,490 thousand in 2023, reflecting a growth of 35.5%[31] - Technical and maintenance services revenue decreased to RMB 26,982 thousand in 2024 from RMB 37,644 thousand in 2023, a decline of 28.5%[31] - Standard software sales dropped significantly to RMB 8,645 thousand in 2024 from RMB 28,361 thousand in 2023, a decrease of 69.5%[31] - In 2024, the software development services generated revenue of RMB 243.2 million, accounting for 87.2% of total revenue, representing a year-on-year growth of 35.5%[68] - Innovative solutions contributed RMB 80.2 million to software development services revenue, making up 33.0% of that segment[68] - Revenue from technical and maintenance services decreased by 28.2% to RMB 27.0 million, representing only 9.7% of total revenue in 2024[69] - Standard software sales generated RMB 8.6 million, accounting for 3.1% of total revenue, with innovative solutions contributing 94.2% of this segment[70] Assets and Liabilities - Total assets decreased to RMB 882,822 thousand in 2024 from RMB 947,685 thousand in 2023, a decline of 6.9%[6] - Total liabilities decreased to RMB 143,384 thousand in 2024 from RMB 158,781 thousand in 2023, a reduction of 9.7%[6] - The company’s equity attributable to owners decreased to RMB 739,268 thousand in 2024 from RMB 786,971 thousand in 2023, a decline of 6.0%[10] - Accounts receivable decreased to RMB 203,965,000 from RMB 261,866,000, a reduction of 22%[43] - The company reported a total of RMB 60.856 million in accounts payable as of the reporting period end, down from RMB 71.741 million in 2023[48] Research and Development - Research and development expenses rose significantly to RMB 71,524 thousand in 2024 from RMB 42,315 thousand in 2023, an increase of 68.9%[7] - Research and development expenses surged by 69.0% to RMB 71.5 million, driven by increased direct spending and deferred development cost amortization[79] Cash Flow and Liquidity - The company’s cash and cash equivalents increased to RMB 348,240 thousand in 2024 from RMB 330,458 thousand in 2023, showing a slight improvement in liquidity[10] - The net cash generated from operating activities significantly increased by 116.2%, amounting to RMB 24.0 million in 2024, up from RMB 11.1 million in 2023[53] - Operating cash inflow reached RMB 24.0 million, a significant increase of 116.2% compared to RMB 11.1 million in 2023[86] Market and Strategic Initiatives - The company plans to enhance its market penetration in the Greater Bay Area and expand its solutions and products across broader regional markets[52] - The group plans to implement a dual-path expansion strategy focusing on "core area penetration and emerging market cultivation" to enhance its competitive edge by 2025[64] - The group aims to strengthen its cash flow management and optimize asset allocation to enhance operational resilience and risk management capabilities[65] Corporate Governance and Compliance - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, confirming compliance with applicable accounting standards[125] - The company has adopted all applicable principles and code provisions of the Corporate Governance Code as a benchmark for its governance practices[123] Employee and Shareholder Matters - The employee cost for 2024, including director remuneration, was approximately RMB 152.6 million, with a total of 622 employees as of December 31, 2024[114] - The board has resolved not to recommend any final dividend for the year ending December 31, 2024[120] - The company repurchased a total of 5,952,800 shares at a total cost of approximately HKD 2.47 million, reflecting confidence in its business outlook[118]
新纽科技(09600) - 2024 - 年度业绩