Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 60,646,000, an increase of 26.5% from RMB 47,909,000 in 2022[2] - Gross profit for the year was RMB 26,045,000, up 25.3% from RMB 20,816,000 in the previous year[2] - Operating profit turned positive at RMB 4,322,000 compared to an operating loss of RMB 26,792,000 in 2022[3] - Net profit for the year was RMB 3,801,000, a significant recovery from a net loss of RMB 25,014,000 in the prior year[3] - Basic and diluted earnings per share improved to RMB 0.033 from a loss of RMB 0.270 in 2022[3] - The company reported a total comprehensive income of RMB 6,374,000 for the year, compared to a loss of RMB 22,982,000 in 2022[5] - Adjusted profit before tax for the software segment improved to RMB 11,232,000 in 2023 from a loss of RMB 22,700,000 in 2022[23] - The group recorded a profit of approximately RMB 3,801,000 for the year ended December 31, 2023, a significant recovery from a loss of RMB 25,014,000 in 2022[53] Revenue Breakdown - Revenue from software maintenance and other services was RMB 36,251,000, an increase from RMB 34,218,000 in the previous year[14] - Revenue from software licenses and other products surged to RMB 24,395,000, up from RMB 13,691,000, marking a growth of 78.5%[14] - The revenue from external customers in China was RMB 60,084,000 in 2023, up from RMB 47,909,000 in 2022, reflecting a growth of 25.5%[26] - For the year ended December 31, 2023, the company recorded revenue of approximately RMB 60,646,000, an increase of 26.5% from RMB 47,909,000 in 2022[45] Assets and Liabilities - Cash and cash equivalents increased to RMB 177,805,000 from RMB 101,036,000, reflecting a growth of 75.7%[7] - Non-current assets rose to RMB 12,483,000, up from RMB 6,164,000, indicating a 102.1% increase[7] - Reportable segment assets increased to RMB 269,922,000 in 2023 from RMB 195,870,000 in 2022, reflecting a growth of 37.7%[23] - Reportable segment liabilities rose to RMB 29,627,000 in 2023, compared to RMB 28,266,000 in 2022, indicating a 4.8% increase[23] Cash Management - Trade receivables, net of impairment, decreased to RMB 9,888,000 from RMB 26,893,000, indicating improved collection efficiency[35] - The company’s total trade and other payables decreased to RMB 10,628,000 from RMB 16,553,000, suggesting better cash management[38] - As of December 31, 2023, the group's cash and cash equivalents were approximately RMB 177,805,000, an increase from RMB 101,036,000 in 2022, with a current ratio of 7.69, up from 5.67 in 2022[55] Expenses - Distribution expenses for the year ended December 31, 2023, were approximately RMB 15,918,000, an increase from RMB 14,475,000 in 2022, primarily due to higher employee costs and travel expenses in the software business in China[47] - General and administrative expenses for the year ended December 31, 2023, were approximately RMB 22,573,000, up from RMB 16,849,000 in 2022, mainly due to increases in employee costs, professional fees, travel expenses, and trading costs of listed equity securities[49] - Financing costs for the year ended December 31, 2023, were approximately RMB 918,000, compared to RMB 877,000 in 2022, attributed to increased interest expenses on borrowings[50] Investments and Future Plans - The company completed a rights issue on April 25, 2023, raising approximately RMB 90,653,000, which will support future growth initiatives[42] - The company plans to continue expanding its software business and enhancing its product offerings to drive future revenue growth[45] - The company invested RMB 12,850,000 in Beijing Dongfang Longma Software Development Co., Ltd., acquiring approximately 10.46% equity, completed in February 2023[58] - Approximately RMB 9,515,000 was allocated for the development of AI software solutions, including hiring engineers and procuring necessary hardware[64] Shareholder Information - The company did not declare or recommend any dividends for the year ended December 31, 2023, consistent with 2022[31] - No final dividend has been recommended for the year ending December 31, 2023, consistent with the previous year[82] - The company employed 128 full-time employees as of December 31, 2023, an increase from 89 in the previous year, with total employee costs amounting to approximately RMB 25,182,000[80] Market Outlook - The software business has shown gradual recovery despite ongoing impacts from the COVID-19 pandemic, driven by demand from existing and new customers as well as new contracts for domestic database software[83] - Management believes that the market will gradually recover from the pandemic, with more Chinese customers likely to turn to domestic brands for database software services in the long term[85] - The company aims to maintain competitiveness by launching new products and services, strengthening customer relationships, and expanding its customer base, particularly in line with China's push for domestic technology self-sufficiency[84] Compliance and Governance - The audit committee has reviewed the audited financial statements for the year ending December 31, 2023, ensuring compliance with corporate governance codes[92]
企展控股(01808) - 2023 - 年度业绩