Financial Performance - Revenue for the year ended December 31, 2023, was RMB 2,576,806 thousand, a decrease of 38.7% compared to RMB 4,208,350 thousand in 2022[50]. - Gross profit for 2023 was RMB 174,051 thousand, down 49.3% from RMB 343,744 thousand in the previous year[50]. - Profit before tax decreased significantly to RMB 18,347 thousand, a decline of 89.0% from RMB 167,706 thousand in 2022[50]. - Net profit for the year was RMB 13,086 thousand, representing a drop of 92.3% compared to RMB 169,025 thousand in the prior year[50]. - Basic and diluted earnings per share for 2023 were RMB 0.62, down from RMB 8.06 in 2022[50]. - The total comprehensive income reported was RMB 9,283 million for the year, compared to RMB 168,668 million in the previous year[46]. - The total revenue from sales to related parties was approximately RMB 992,260,000 for the year ending December 31, 2023, down from RMB 1,762,880,000 in 2022[94]. - The revenue from industrial product sales was RMB 4,172,765,000, while processing and manufacturing services contributed RMB 35,585,000, totaling RMB 4,208,350,000 in customer contract revenue[96]. - The net profit attributable to the owners of the parent company was RMB 13.1 million in 2023, representing a significant decrease of 92.3% year-on-year from RMB 169.0 million in 2022[128]. - The company reported a total tax expense of RMB 5,261,000 for the year, compared to a tax credit of RMB 1,319,000 in 2022[104]. Cash and Equity - As of December 31, 2023, the group's cash and cash equivalents and time deposits amounted to RMB 422 million, with 11.2% in USD, 83.5% in RMB, and 5.3% in HKD[5]. - The total equity attributable to the parent company as of December 31, 2023, was RMB 1,009.4 million, with a capital debt ratio of 0.1%[6]. - Total equity as of December 31, 2023, was RMB 1,009,448 thousand, slightly down from RMB 1,000,165 thousand in 2022[54]. - Non-current liabilities totaled RMB 12,632 thousand, a decrease from RMB 75,635 thousand in the previous year[53]. - The group’s interest-bearing bank loans amounted to RMB 3.2 million as of December 31, 2023[39]. Customer and Market Dynamics - The largest customer and the top five customers accounted for approximately 53% and 89% of the group's revenue, respectively[8]. - The group is committed to diversifying its product range to reduce reliance on single customers and attract new clients[10]. - Revenue from mainland China was RMB 759.9 million, a decline of 61.5% from RMB 1,973.9 million[172]. - Revenue from Hong Kong was RMB 1,816.0 million, down 18.7% from RMB 2,232.8 million[172]. Operational Developments - The group plans to increase investment in the smart home and mid-size commercial display markets, with two new mid-size production lines expected to be added within the year[2]. - The group maintains a cautious optimism regarding the development prospects of the display module business, aiming to enhance competitiveness through improved supply chain layout and cost control[3]. - The company has implemented multiple smart production lines in its new display module factory in Huizhou, enhancing production efficiency and product quality[172]. - The company aims to expand its product range and technology platforms, focusing on medium-sized display modules and smart home devices to enhance competitiveness[185]. Cost Management - The total employee cost for the review period was RMB 208.0 million, with a workforce of 3,219 employees[28]. - The company has implemented strict production cost controls to mitigate the impact of external factors on its operations[142]. - Selling and distribution expenses were RMB 19,807 thousand, an increase from RMB 39,824 thousand in the previous year[50]. - The company reported a research and development expense of RMB 118.2 million in 2023, a decrease of 10.5% from RMB 132.0 million in 2022[122]. Economic Outlook - Global economic growth is expected to slow significantly in Q1 2024, with China's growth forecast at 4.6%[36]. - The global consumer electronics industry revenue is projected to exceed USD 1 trillion in 2024, indicating a growth trend[36]. - Smartphone shipments in China are expected to reach 287 million units in 2024, a year-on-year increase of 3.6%[36]. - The global smartphone shipment volume in 2023 was 1,165 million units, a decline of 3.5% year-on-year, marking the lowest level in nearly a decade[140]. - The global smartphone panel shipment volume is expected to grow by approximately 18% in 2023, indicating a recovery in panel demand despite declining smartphone shipments[152]. Compliance and Governance - The group has not engaged in any major litigation as of December 31, 2023[22]. - The group has established stable relationships with suppliers, with the largest supplier accounting for approximately 13% of procurement[11]. - The audit committee has reviewed the group’s annual performance and accounting principles for the year ending December 31, 2023[32]. - The company has not identified any significant impact from the recent accounting standard revisions on its financial statements[90]. - The company is currently evaluating the impact of the recent revisions to liability classification and expects no significant effects on its financial statements[111].

Revenue and Sales Performance - For the six months ended June 30, 2023, the total revenue was RMB 1,226,859,000, a decrease of 55.1% compared to RMB 2,735,253,000 for the same period in 2022[17] - Sales of industrial products amounted to RMB 1,209,564,000, down 55.4% from RMB 2,710,676,000 in the previous year[17] - Revenue from the mainland China market was RMB 196,576,000, a significant decline of 87.3% from RMB 1,545,853,000 in 2022[17] - Revenue from other countries/regions was RMB 1,030,283,000, a decrease of 13.4% compared to RMB 1,189,400,000 in the previous year[17] - Revenue from sales to related companies for the six months ended June 30, 2023, was approximately RMB 485,285,000, compared to RMB 1,016,830,000 for the same period in 2022[87] - In the first half of 2023, the total sales volume of the group's sales modules reached 21.2 million units, contributing RMB 1,209.6 million to the revenue, a decrease of 32.2% year-on-year[173] - The total sales for the six months ended June 30, 2023, reached 22.0 million units, a year-on-year decrease of 32.2%[194] Profitability and Loss - The company reported a loss per share of RMB 0.35 for the period, compared to a profit of RMB 6.44 per share in the previous year[31] - The net loss attributable to the parent company for the six months ended June 30, 2023, was RMB 7,418,000, compared to a profit of RMB 133,973,000 in the same period of 2022[51] - The total comprehensive loss for the period was RMB 16,771,000, which includes a loss of RMB 7,418,000 and an exchange difference of RMB 9,353,000[76] - The company reported a loss before tax of RMB (11,076) thousand for the six months ended June 30, 2023, compared to a profit of RMB 113,141 thousand in the same period of 2022[60] - The company reported a net loss attributable to shareholders of RMB 7.4 million, primarily due to reduced orders from major customers[195] Expenses and Costs - Gross profit for the same period was RMB 86,774,000, down 58.5% from RMB 208,896,000 in the previous year[51] - The cost of sales for the six months ended June 30, 2023, was RMB 1,140,085 thousand, a decrease of 56.5% compared to RMB 2,625,357 thousand in the same period of 2022[74] - Research and development expenses for the period amounted to RMB 52,136 thousand, down 32.7% from RMB 77,413 thousand in the same period of 2022[74] - The depreciation of property, plant, and equipment increased to RMB 51,559 thousand, up 93.0% from RMB 26,714 thousand in the same period of 2022[74] Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 1,785,503,000, a decrease from RMB 1,904,750,000 at the end of 2022[51] - Current liabilities totaled RMB 1,590,324,000, an increase of 5.7% from RMB 1,504,381,000 at the end of 2022[51] - The company's cash and cash equivalents decreased significantly to RMB 690,800,000 from RMB 278,972,000, indicating a decline of 75.5%[51] - The total equity attributable to the parent company was RMB 983,394,000 as of June 30, 2023, down from RMB 1,000,165,000 at the end of 2022[36] - The total accounts payable decreased slightly to RMB 1,065,438,000 from RMB 1,072,636,000 year-on-year[121] Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2023, was RMB (147,362) thousand, a significant decrease from RMB 2,542 thousand in the same period of 2022[60] - Cash and cash equivalents, including bank balances and fixed deposits, amounted to RMB 690,800,000, up from RMB 278,972,000 at the end of 2022[119] Market and Industry Trends - The smartphone market is expected to decline by 5.2% year-on-year in 2023, with total shipments projected at 1,144 million units[179] - The overall average selling price (excluding processed modules) decreased by 34.1% to RMB 57.2[173] - The smartphone display panel shipment volume decreased by 9.0% quarter-on-quarter in Q1 2023, with a recovery in Q2 driven by low inventory levels[194] Strategic Focus and Development - The company plans to continue focusing on research and development, with R&D costs included in administrative expenses[21] - The company is actively engaged in research and development of new technologies to enhance its product offerings and market competitiveness[81] - The company is focusing on developing mid-size display modules and smart home devices to enhance competitiveness in the market[200] - The company is leveraging its subsidiary, Huizhou Keda Tezhixian Technology Co., Ltd., as a supplier for IoT-related products to capture potential market opportunities[200] - The company aims to mitigate external economic impacts through strict production cost control and increased production efficiency[195]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 China Display Optoelectronics Technology Holdings Limited 華 顯 光 電 技 術 控 股 有 限 公司 （於百慕達註冊成立之有限公司） 334 （股份代號： ） 業績公佈 截至二零二三年六月三十日止六個月 財務摘要 截至六月三十日止六個月未經審核業績 二零二三年 二零二二年 變動 （未經審核）（未經審核） 人民幣千元 人民幣千元 1,226,859 2,735,253 (55.1%) 收入 86,774 208,896 (58.5%) 毛利 (7,418) 133,973 本期間（虧損）╱溢利 不適用 (7,418) 133,973 母公司擁有者應佔（虧損）╱溢利 不適用 母公司擁有者應佔每股基本 ...

Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 4,208 million, a decrease of 28% from RMB 5,840 million in the previous year[39] - Gross profit for the same period was RMB 344 million, with a gross margin of 8.2%, slightly down from 8.5% in the previous year[39] - Profit attributable to the owners of the parent company was RMB 169 million, compared to RMB 193 million in the previous year[39] - Revenue from continuing operations for the year ended December 31, 2022, was RMB 4,208,350 thousand, a decrease of 28% from RMB 5,840,094 thousand in 2021[71] - Gross profit for the year was RMB 343,744 thousand, down from RMB 494,632 thousand in the previous year, reflecting a decline of approximately 30.5%[71] - Profit before tax from continuing operations was RMB 167,706 thousand, compared to RMB 219,888 thousand in 2021, representing a decrease of about 23.7%[71] - The net profit attributable to owners of the parent for the year was RMB 169,025 thousand, slightly up from RMB 166,488 thousand in 2021, indicating a marginal increase of 0.3%[71] - Total comprehensive income for the year was RMB 168,668 thousand, down from RMB 199,522 thousand in the previous year, reflecting a decrease of approximately 15.4%[75] - The basic earnings per share for the year was RMB 8.06, compared to RMB 9.22 in 2021, showing a decline of about 12.6%[71] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 2,580 million, down from RMB 2,887 million in the previous year[40] - Total liabilities decreased to RMB 1,580 million from RMB 2,056 million, resulting in a net asset increase to RMB 1,000 million from RMB 831 million[40] - Non-current assets increased to RMB 675,431,000 in 2022 from RMB 533,269,000 in 2021, representing a growth of 26.6%[78] - Current assets decreased to RMB 1,904,750,000 in 2022 from RMB 2,353,796,000 in 2021, a decline of 19.0%[78] - Total liabilities decreased to RMB 1,580,016,000 in 2022 from RMB 2,055,568,000 in 2021, a reduction of 23.1%[78] - Net assets increased to RMB 1,000,165,000 in 2022 from RMB 831,497,000 in 2021, reflecting a growth of 20.3%[80] - The company’s total equity increased by 20.3% to RMB 1,000,165,000 in 2022, up from RMB 831,497,000 in 2021[80] Cash Flow and Financial Management - Cash flow from operating activities for the year was RMB 129,491,000, down 78% from RMB 600,255,000 in the previous year[124] - The company’s cash flow from investing activities showed a net outflow of RMB 887,294,000, compared to a net inflow of RMB 46,791,000 in the previous year[124] - Cash and cash equivalents decreased significantly to RMB 278,972,000 in 2022 from RMB 1,053,445,000 in 2021, a drop of 73.5%[78] - The company reported a net loss from derivative financial instruments of RMB 28,619,000, with no such loss reported in the previous year[124] - The company’s financing costs decreased to RMB 1,646,000 from RMB 2,627,000 in the previous year[124] Market and Sales Performance - The group achieved sales of 52.5 million display modules, accounting for 96.9% of total sales, with a revenue of RMB 4,172.8 million[54] - The average selling price decreased by 12.7% year-on-year to RMB 79.4 per unit, excluding processing modules[54] - Global panel shipments declined by over 8% year-on-year in 2022, influenced by the ongoing downturn in the smartphone market[53] - The smartphone market faced significant pressure, with global smartphone shipments declining by 11.3% year-on-year to 1,210 million units in 2022[96] - The company anticipates a 1.9% year-on-year increase in mobile phone shipments in China for the first half of 2023, indicating a challenging market environment[114] Strategic Initiatives and Future Outlook - The company completed the acquisition of 100% equity in IoT product supplier Keda Smart Display, which is expected to enhance its software platform and create synergies with its module business[45] - The group plans to focus on expanding into the medical, smart home, and mid-size industrial control display markets to enhance competitiveness[50] - The collaboration with TCL Huaxing aims to penetrate the mid-size specialized display market, leveraging a panel module integration business model[48] - The group remains cautiously optimistic about the long-term prospects of the display module business despite current challenges[50] - The company aims to strengthen its customer base and optimize its product structure through deepened collaboration with TCL Huaxing, targeting the mid-size professional display market[108] Employee and Corporate Governance - The group had a total employee cost of RMB 279.2 million during the review period, with 2,061 employees as of December 31, 2022[190] - The company aims to provide competitive compensation and benefits, regularly updating its remuneration policies in line with local GDP growth and legal regulations[190] - The company has established a code of conduct for securities trading, which all directors confirmed compliance with for the year ended December 31, 2022[15] - The company has no directors with interests in competing businesses as of December 31, 2022[8] - The company has not engaged in any significant litigation as of December 31, 2022, indicating a stable legal standing[121] Related Party Transactions - Related transactions were conducted with TCL Technology and its affiliates during the year ended December 31, 2022[173] - The company received processing fees of RMB 35,585,000 from TCL Technology Group for the year ended December 31, 2022[1] - The company paid RMB 1,516,000 to Huizhou TCL for human resources services for the year ended December 31, 2022[2] - The company paid RMB 2,549,000 to Qianhai Qihang for logistics and import agency services for the year ended December 31, 2022[5] Compliance and Audit - The audit committee reviewed the financial statements for the year ended December 31, 2022, and confirmed compliance with applicable accounting standards and regulations[17] - The independent auditor, Ernst & Young, issued an unqualified opinion on the company's continuous connected transactions for the year ended December 31, 2022[7] - The company has not entered into any management contracts for the operation of its main business during the reporting period[9] Share Option and Incentive Plans - The share option plan aims to reward and incentivize eligible participants who contribute to the operational success of the group[150] - The maximum number of shares that can be granted to any participant under the share incentive plan is limited to 1% of the issued share capital at the time of adoption, which is 17,214,998 shares[170] - The company has granted a total of 103,289,988 shares under the share incentive plan, of which 102,946,488 shares have vested and 343,500 shares have been forfeited[171] - No stock options or rewards were granted under the stock option plan or share incentive plan during the year ended December 31, 2022[172]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 China Display Optoelectronics Technology Holdings Limited 華 顯 光 電 技 術 控 股 有 限 公司 （於百慕達註冊成立之有限公司） 334 （股份代號： ） 業績公佈 截至二零二二年十二月三十一日止年度 財務摘要 業績 截至 截至 二零二二年 二零二一年 十二月 十二月 三十一日 三十一日 止年度 止年度 變動 人民幣千元 人民幣千元 持續經營業務 4,208,350 5,840,094 (27.9%) ...

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