Green Build Technology (Y06) H2 2024 earnings summary

Executive summary

• FY2024 continuing-operations revenue rose 21.1% YoY to RMB3.559m, while the loss from continuing operations widened to RMB3.179m from RMB1.934m.

• Hotel operations joined the consolidated results after control of Hotel Nuve Elements Plus was obtained on 3 December 2024; the auditor issued a disclaimer of opinion, citing going-concern uncertainty, trade-receivable ECL evidence limitations and prior-year discontinued-operation comparability.

Financial highlights

• Revenue RMB3.559m vs RMB2.940m YoY; gross profit RMB2.097m vs RMB2.540m; gross margin 58.9% vs 86.4%.

• Loss before tax RMB2.808m vs RMB1.419m; loss from continuing operations RMB3.179m vs RMB1.934m; FY2023 included RMB93.896m profit from discontinued operations.

• Net loss attributable to equity holders RMB3.181m; basic and diluted loss per share RMB1.09 cents vs FY2023 profit per share RMB33.43 cents.

• Operating cash outflow RMB1.081m; financing cash inflow RMB655k; net decrease in cash and cash equivalents RMB357k to RMB533k at year-end.

Outlook and guidance

• Plans focus on expanding estate-refurbishment consulting and management, hotel management and consultancy, and exploring new opportunities to diversify revenue.

• Management cited additional project contracts, the hotel acquisition, business diversification and potential fundraising as supports for the going-concern assessment; outcomes remain dependent on assumptions and uncertain.