An annual report is a detailed document published yearly by a publicly traded company to inform shareholders about its financial performance and future plans. It is an important source of information for investors who want to understand the company’s operations, strategies, challenges, and market positions.

The report typically includes four core sections: the business review, the director’s report, the auditor’s report, and financial statements. 

1. The business review provides an overview of the company’s activities, market updates, and future outlook.
2. The director’s report details the company’s operations, strategies, and risks from the board’s perspective.
3. The auditor’s report verifies the accuracy and fairness of the financial data presented.
4. The financial statements show the company’s financial health and include the balance sheet, income statement, statement of cash flows, and statement of changes in equity. 

The annual report helps shareholders and potential investors make informed decisions by providing qualitative and quantitative information about the company. It is available for free, usually on the company’s website, and is a crucial document that complies with regulatory requirements.