2025-04-29-港交所-中国万桐园_年报2024_138页_4mb

China Wan Tong Yuan (Holdings) Limited (Stock Code: 6966) released its 2024 annual report, focusing on its operations in funeral and cemetery services. The company reported a revenue decline to RMB44.01 million (from RMB56.93 million in 2023), primarily due to reduced demand, but maintained a healthy gross profit margin of 83.2%. Profit before tax dropped significantly to RMB16.51 million, affected by higher costs and interest expenses.

The company's key strategy involves expanding its cemetery projects, such as the JV Cemetery Project, and enhancing digital services like cloud tomb-sweeping to attract customers. Social responsibility remains a priority, with the company donating funds to build a memorial park.

Governance is robust, with a diverse board including independent non-executive directors. The auditor, Deloitte Touche Tohmatsu, confirmed the financial statements complied with IFRS standards and Hong Kong listing requirements.

The company proposes a final dividend of HK$0.55 cents per share, payable after shareholder approval. Overall, the group remains optimistic about its development prospects despite the revenue decline.