Financial Performance - Profit before tax decreased by approximately 69.0% from RMB 395.4 million for the year ended December 31, 2022, to RMB 122.7 million for the current year[11]. - Net profit for the year decreased by approximately 69.0% from RMB 386.3 million for the year ended December 31, 2022, to RMB 119.6 million for the current year[13]. - Total revenue for 2023 was RMB 1,238,471 thousand, a significant decrease from RMB 4,607,929 thousand in 2022, representing a decline of approximately 73.1%[84]. - Revenue from customer contracts was RMB 1,020,238 thousand in 2023, down from RMB 4,389,175 thousand in 2022, indicating a decrease of about 76.7%[86]. - The group's profit before tax for 2023 was RMB 938,616 thousand, a significant decrease from RMB 4,025,832 thousand in 2022[25]. - The profit attributable to equity holders of the parent company for the same period was RMB 118.9 million, down from RMB 380.9 million in 2022[92]. - Basic earnings per share for the year were RMB 0.45, compared to RMB 1.49 in the previous year[105]. - The company's gross profit for the year was RMB 226.6 million, down from RMB 545.3 million in 2022[102]. - The gross profit decreased by about 58.4% from RMB 545.3 million in 2022 to RMB 226.6 million in 2023, while the gross profit margin increased from 11.8% to 18.3%[133]. Expenses and Costs - Other income and gains decreased by approximately 40.0% from RMB 9.5 million for the year ended December 31, 2022, to RMB 5.7 million for the current year, primarily due to a reduction in foreign exchange gains[3]. - Selling and distribution expenses decreased by approximately 6.5% from RMB 18.6 million for the year ended December 31, 2022, to RMB 17.4 million for the current year, mainly due to a reduction in salaries and benefits[4]. - Administrative expenses remained relatively stable at RMB 87.1 million and RMB 83.1 million for the years ended December 31, 2022, and 2023, respectively[5]. - Other expenses decreased by approximately 58.8% from RMB 3.4 million for the year ended December 31, 2022, to RMB 1.4 million for the current year, primarily due to a reduction in losses related to the disposal of non-current assets[6]. - Financial costs increased from RMB 4.8 million for the year ended December 31, 2022, to RMB 5.4 million for the current year, mainly due to an increase in average monthly borrowings[7]. - Financial costs for ongoing operations totaled RMB 5,388 thousand in 2023, compared to RMB 4,827 thousand in 2022, reflecting an increase of approximately 11.7%[87]. - The total tax expense for the year was RMB 3.1 million, significantly lower than RMB 9.1 million in 2022[97]. Assets and Liabilities - As of December 31, 2023, the company's cash and bank balances were RMB 207.9 million, down from RMB 340.0 million as of December 31, 2022[17]. - Total borrowings as of December 31, 2023, were RMB 51.3 million, a decrease from RMB 66.9 million as of December 31, 2022[18]. - The total liabilities decreased from RMB 505.1 million in 2022 to RMB 278.7 million in 2023, representing a reduction of approximately 44.8%[69]. - The net asset value increased to RMB 1,164.4 million in 2023 from RMB 891.2 million in 2022, showing a growth of around 30.6%[72]. - Trade receivables at the end of the reporting period totaled RMB 89.3 million, down from RMB 149.1 million in 2022[114]. - Trade payables at the end of the reporting period amounted to RMB 172.4 million, compared to RMB 336.4 million in 2022[116]. Capital and Financing - The company plans to obtain additional bank loans and other borrowings for working capital purposes and will continue to assess potential financing opportunities based on its capital resource needs and market conditions[14]. - The capital commitments amounted to RMB 1,393.2 million as of December 31, 2023, down from RMB 1,512.1 million in 2022, related to the purchase of container vessels[36]. - The current ratio improved to 1.5 times as of December 31, 2023, compared to 1.3 times in the previous year[34]. - The debt-to-equity ratio decreased to 4.4% as of December 31, 2023, down from 8.6% in 2022, primarily due to the repayment of related party payables and interest-bearing borrowings during the year[34]. Operational Highlights - The total container throughput for cross-border logistics services was 233,903 TEUs, a decline from 255,613 TEUs in 2022[119]. - Revenue from cross-border logistics services fell by 77.3%, from RMB 4,389.2 million in 2022 to RMB 996.7 million in 2023, primarily due to a drop in average price per TEU from RMB 12,300 to RMB 4,000[132]. - The average price per TEU for cross-border shipping services dropped from approximately RMB 7,000 in 2022 to about RMB 4,000 in 2023 due to market price declines[119]. - The average daily charter rate for ship leasing was approximately RMB 136,000, down from RMB 191,000 in the same period of 2022[120]. - The company generated RMB 23.6 million in revenue from supply chain solutions under its import goods trade segment, which began in February 2023[121]. - The company plans to develop overseas warehouse business, anticipating the global cross-border logistics market to grow from USD 343.8 billion in 2023 to USD 404.9 billion by 2027[125]. - The company aims to leverage its fleet to expand service coverage and enhance capacity, focusing on self-operated routes in Southeast Asia[124]. - The company will focus on providing integrated logistics solutions for international engineering clients in Africa, South America, and Southeast Asia[129]. - The company expects to maintain strong profitability despite challenges in the cross-border logistics industry due to geopolitical conflicts and supply chain adjustments[123]. - The company will continue to strive for steady growth in performance to create greater value for shareholders[130]. Governance and Compliance - The company has adopted the corporate governance code since its listing, ensuring compliance with the relevant regulations[62]. - The audit committee reviewed the annual performance for the year ended December 31, 2023, and agreed on the financial results with the management[65]. - The company has adopted revised international financial reporting standards for the first time this year, but these revisions did not impact the financial statements[79]. - The company’s financial statements are prepared in accordance with International Financial Reporting Standards and relevant local regulations[1]. - There were no significant events affecting the company from December 31, 2023, to the date of the announcement[58]. - The company has not purchased, sold, or redeemed any of its listed securities from January 1, 2023, to the date of the announcement[59]. - The company does not recommend the payment of a final dividend for the year ended December 31, 2023[60]. - The company did not declare or pay any dividends during the year[110]. - The group has no significant contingent liabilities as of December 31, 2023[35]. - The group has no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[37]. - There are no major future plans for significant investments or capital assets beyond those disclosed in the prospectus[47].
乐舱物流(02490) - 2023 - 年度业绩