HONG KONG, Mar 20, 2025 - (ACN Newswire) - Hengdeli Holdings Limited (“Hengdeli” or the “Company” and, together with its subsidiaries, the “Group”; stock code: 3389) announced its annual results for the twelve months ended 31 December 2024 ("the year under review").
In 2024, the international environment was complex. Amid intensifying geopolitical conflicts, regional wars and trade protectionism, the momentum of world economic growth remained weak. China’s total economic output achieved a new breakthrough, but there were still many risks and hidden dangers. Confronted with complicated environment, the Group adhered to the principle of “sound, steady and long-term operations” and adjusted its business in line with the market so as to maintain survival and pursue development, making every effort to safeguard the interests of shareholders.
For the year ended 31 December 2024, the Group recorded revenue of RMB1,043,555,000 (31 December 2023: RMB1,421,454,000), representing a year-on-year decrease of 26.6%; high-end consuming accessories business recorded revenue of RMB688,104,000 (31 December 2023: RMB710,708,000), representing a year-on-year decrease of 3.2%; commodity trading recorded revenue of RMB355,451,000 (31 December 2023: RMB710,746,000), representing a year-on-year decrease of 50.0%. The Group recorded a loss of approximately RMB55,472,000 (31 December 2023: profit of RMB35,191,000) and loss attributable to equity shareholders amounted to approximately RMB65,161,000 (31 December 2023: profit of RMB33,885,000), which was mainly due to the decrease in sales and gross profit, the increase in depreciation expenses on property, plant and equipment and foreign exchange losses incurred by the operating units as a result of exchange rate fluctuations.
During the year under review, the China’s economy was under great pressure, which affected the Group's high-end consuming accessories business to a certain extent. However, the Group has adopted various measures to cope with the complex operating environment, and achieved remarkable results. During the year, although the sales of high-end consuming accessories business declined slightly, the profit has improved significantly compared with the same period last year.
During the year under review, the Group's international commodity trading business mainly involved
the importation of iron ore, thermal coal and coking coal to Mainland China. Affected by the international and domestic economic environment, weakened the demand for iron ore and the market prices of products such as ore sand and coal were volatile. As a result, the trade volume and profit of the Group’s international commodity trading business decreased as compared to the same period last year. During the year, the Group planned to build a bulk cargo transshipment logistics park in Mexico, which integrates customs clearance, import, transportation and warehousing, and is dedicated to serving large-scale enterprises in China.
In 2024, the global shipping market for dry bulk cargo experienced an increased volatility as a whole. The Group seized the opportunities of the rising market to vigorously expand its business. During the year, the Group successfully developed a series of well-known large-scale mining, power and steel enterprises at home and abroad, such as CHN Energy Investment Group, Yancoal Australia Limited, Tianyuan Manganese Industry Group, Steel Authority of India Limited, and ArcelorMittal Group. In addition to engaging in the traditional transportation routes, the Group opened up its first bauxite transportation route between Turkey and China and signed long-term transportation agreements. The Group’s shipping business achieved good results in terms of revenue and profit during the year.
At present, the global political situation is experiencing a high degree of unrest, making the business environment remain complicated and grim. Apart from the adverse impact brought about by changes in the external environment, the economic performance of Mainland China also confronts certain difficulties and challenges in its own development. However, with the stable foundation, strong resilience and great potential, it is undisputed that the supporting conditions and basic trend for facilitating the China’s economy to achieve growth in long run, it is believed that the momentum of Mainland China’s economic development will continue to strengthen with sustainable growth.
In the new year, the Group will continue to adhere to the principle of “sound, steady, and long-term operations”, and will leverage the stable business environment in Mainland China that “pursues stability while seeking progress” to keep abreast of the market trend and further advance the process of international trade in a prudent and steady manner. Additionally, the Group will continuously expand
and strengthen the international shipping business which is closely related to international trade, and strive to become a stronger participant in the international shipping supply chain and achieve new breakthroughs in corporate development.
The Group will continue to adapt to market demands and continuously enhance the service standard of its integrated services for commercial space in both Mainland China and international markets. The Group will continuously adjust the manufacturing of high-end accessories for renowned watches while embarking on a limited number of diversified business activities to include the manufacturing of highend consuming accessories in high-end lifestyle products such as jewellery, cosmetics and mobile phones, and to expand its commercial space beautification services to include living space beautification services, thus becoming an indispensable independent segment in the industry ecological chain of high-end consuming accessories.