Financial Performance - The company reported a loss of approximately RMB 124,022,000 for the year ended December 31, 2022, compared to a loss of RMB 79,472,000 for the previous year[8]. - The company's revenue for the reporting period was approximately RMB 377,126,000, a decrease of about 5.1% compared to 2021, primarily due to a 16.0% decline in integrated service sales and a 32.5% decrease in IT maintenance and support services[28]. - Gross profit for the reporting period was approximately RMB 89,339,000, a decrease of about 30.9% year-on-year, attributed to increased operational costs and a decline in revenue[28]. - The total comprehensive loss for the year was RMB 122,998,000, compared to a loss of RMB 76,316,000 in the previous year[138]. - The net loss for the reporting period was approximately RMB 124,022,000, compared to a net loss of RMB 75,987,000 in the previous year, representing an increase in loss of 63.1%[163]. Assets and Liabilities - As of December 31, 2022, the company recorded a net current liability of approximately RMB 63,244,000, indicating significant uncertainty regarding its ability to continue as a going concern[8]. - Total liabilities amounted to RMB 307,370,000, with total equity and liabilities at RMB 410,883,000[32]. - The debt-to-asset ratio was approximately 143.6%, an increase from 67.8% in 2021, attributed to an increase in bank and other borrowings by approximately RMB 31,283,000 and financial borrowings by approximately RMB 41,981,000[131]. - The total assets decreased to RMB 410,883,000 from RMB 473,692,000, a reduction of 13.3%[166]. Revenue Breakdown - Revenue from data solutions was RMB 267,589,000, an increase from RMB 257,741,000 in the previous year, while revenue from integrated services decreased to RMB 77,914,000 from RMB 92,783,000[38]. - The proportion of revenue from the core data solution business increased from 64.9% to 71.0% of total revenue[58]. - Revenue from mainland China for the year was RMB 377,126,000, a decrease from RMB 392,412,000 in 2021[149]. Operational Costs - The company reported an increase in operational costs by approximately RMB 19,611,000 due to project completion delays caused by COVID-19 restrictions[77]. - Employee benefits expenses, including director remuneration, increased to RMB 267,880,000 from RMB 243,376,000 in the previous year[41]. - The main reasons for the loss included increased operational costs of approximately RMB 19,611,000 due to COVID-19 restrictions, and share-based payment expenses of approximately RMB 20,536,000, up from RMB 5,772,000 in the previous year[163]. Credit and Receivables - Trade receivables increased from RMB 35,344,000 at the beginning of the year to RMB 47,660,000 at year-end, with expected credit loss provisions rising from RMB 19,332,000 to RMB 12,316,000[22]. - The expected credit loss provision for trade receivables increased to RMB 22.54 million by the end of 2022, compared to RMB 10.46 million at the end of 2021[51]. - The weighted average expected loss rates for trade receivables decreased from 7% to 2% for current receivables from 2021 to 2022, indicating improved credit quality[80]. Investments and Financing - The company expects to raise up to approximately HKD 133,380,000 through the issuance of new shares at a subscription price of HKD 0.76 per share, pending shareholder approval[36]. - The net cash generated from financing activities was approximately RMB 65,273,000, mainly due to share issuance, convertible loans, and financing from banks and other financial institutions[127]. - The company received an investment of RMB 100 million from Beijing Financial Street Capital Operation Group to support technology R&D, market expansion, and acquisitions of quality financial big data technology companies[96]. Strategic Initiatives - The company has established a joint data modeling and operation cooperation model with a joint-stock bank to enhance customer operations and promote inclusive financial services[62]. - The company aims to strengthen its talent structure by attracting high-level professionals and optimizing its composite talent structure to drive development[72]. - The company plans to continue focusing on data intelligence and marketing technology, leveraging its end-to-end data capabilities and rich experience serving top banks[69]. Research and Development - Research and development expenses were approximately RMB 39,580,000, a decrease of about 35.6% or approximately RMB 21,882,000 compared to 2021, accounting for about 10.5% of the revenue[120]. - The company is committed to enhancing its R&D capabilities to deliver high-quality products and solutions[195]. Market Position - The company ranked first in the "Smart Marketing Solutions" market in the Chinese banking sector with a market share exceeding the combined total of the next three competitors[90]. - The company has engaged in business with 15 out of the 18 major banks in China, which invested approximately RMB 170.45 billion in fintech in 2021[63]. - The company is actively engaged in smart marketing projects with multiple banks, enhancing its market position in the banking sector[198].
瑞和数智(03680) - 2022 - 年度业绩