Financial Performance - For the year ended December 31, 2023, the total revenue was RMB 10,522,925 thousand, a decrease of 5.6% compared to RMB 11,150,234 thousand in 2022[2] - The gross profit for the year was RMB 1,844,980 thousand, slightly down from RMB 1,867,026 thousand in the previous year, resulting in a gross margin of approximately 17.5%[2] - The net profit for the year was RMB 645,544 thousand, representing a significant increase of 61.0% from RMB 400,340 thousand in 2022[3] - Basic and diluted earnings per share increased to RMB 0.15 from RMB 0.09, reflecting a growth of 66.7%[3] - The total comprehensive income for the year was RMB 605,216 thousand, compared to RMB 311,801 thousand in 2022, marking an increase of 94.0%[5] - The group’s profit before tax for 2023 was RMB 772,657,000, an increase of 76.0% compared to RMB 438,924,000 in 2022[23] Revenue Breakdown - Revenue from wheel loaders was RMB 4,334,100, accounting for 41.2% of total revenue, down from RMB 5,213,928 (46.8%) in the previous year[17] - The sales revenue from the domestic market saw significant declines, with the northern region down 14.6% and the southwestern region down 26.9%[56] - Export sales increased by 20.12% year-on-year, reaching approximately RMB 3,074 million, accounting for 29.2% of total sales, up from 23.0% in the previous year[56] - The sales revenue from wheel loaders decreased by 22.18% to approximately RMB 4,058 million, representing about 38.56% of total revenue[58] - The sales revenue from excavators increased by 13.41% to approximately RMB 1,258 million, benefiting from strong export performance[59] - Forklift sales revenue rose by 8.48% to approximately RMB 3,659 million, accounting for about 34.78% of total revenue[60] Expenses and Costs - Research and development expenses decreased to RMB 437,700 thousand from RMB 516,019 thousand, a reduction of 15.2%[2] - Capital expenditures for the year were RMB 152,046, a decrease from RMB 305,895 in 2022, reflecting a reduction of approximately 50.4%[16] - The total cost of sold inventory for 2023 was RMB 8,132,270,000, a decrease of 7.1% from RMB 8,756,277,000 in 2022[21] - The total tax expense for 2023 was RMB 127,113,000, significantly higher than RMB 38,584,000 in 2022, reflecting an increase of 229.5%[22] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 12,480,883 thousand, up from RMB 11,585,891 thousand in 2022, indicating a growth of 7.7%[6] - The company’s total assets as of December 31, 2023, were RMB 15,623,542, compared to RMB 15,390,930 in 2022, indicating an increase of approximately 1.5%[18] - The company’s total liabilities were RMB 5,642,022, slightly up from RMB 5,639,775 in the previous year[18] - The net current assets increased to RMB 6,889,480 thousand from RMB 6,720,890 thousand, reflecting a rise of 2.5%[7] Cash Flow and Financial Position - Cash and cash equivalents increased to RMB 3,470,777,000 in 2023 from RMB 2,031,973,000 in 2022, while total cash and bank balances rose to RMB 4,922,636,000 from RMB 3,688,228,000[47] - The company’s cash deposits for financing leases decreased to RMB 5,809,000 in 2023 from RMB 6,307,000 in 2022, a decline of about 7.9%[31] - The company has a significant amount of cash and bank balances held in foreign currencies, with USD equivalent to RMB 771,973,000 and HKD equivalent to RMB 2,710,000 as of December 31, 2023[49] Shareholder Information - The proposed final dividend for 2023 is RMB 310,513,000, translating to RMB 0.08 per ordinary share, down from RMB 0.10 per share in 2022[24] - The company reported a final dividend of HKD 0.08 per share for the year ending December 31, 2023, subject to shareholder approval[89] - The company paid a final dividend of HKD 0.1 per share based on the 2022 operating performance of HKD 428 million (approximately RMB 375 million)[85] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[17] - The company aims for a GDP growth target of around 5% in 2024, with expectations for infrastructure investment to stabilize domestic demand for engineering machinery[75] - The company plans to enhance its international marketing talent and expand marketing channels to increase market share and improve overall efficiency[75]
中国龙工(03339) - 2023 - 年度业绩