Financial Performance - Revenue for the year ended December 31, 2022, decreased by 21.9% to RMB 680.7 million compared to RMB 871.6 million in 2021[2]. - Gross profit for the same period decreased by 19.3% to RMB 189.8 million, with a gross margin of 27.9%[2][4]. - Net profit for the year was RMB 96.6 million, a significant recovery from a net loss of RMB 0.9 million in 2021[2][4]. - Total sales revenue for the year was RMB 680,727,000, compared to RMB 871,578,000 in 2021, reflecting a decline of 22%[12]. - The group reported a profit attributable to equity holders of RMB 96,604,000 for 2022, a significant recovery from a loss of RMB 939,000 in 2021[14]. - Basic and diluted earnings per share for 2022 were RMB 0.098, compared to a loss per share of RMB (0.001) in 2021[14]. - Fresh fruit sales and other income accounted for 6.1% of total revenue for the year ended December 31, 2022, down from 6.2% in 2021, with a year-on-year decrease of RMB 12.5 million or 23.1% to approximately RMB 41.7 million[41]. - Gross profit decreased from approximately RMB 235.1 million for the year ended December 31, 2021, to approximately RMB 189.8 million for the year ended December 31, 2022, a decline of RMB 45.3 million or 19.3%[42]. - Overall gross margin increased from 27.0% in 2021 to 27.9% in 2022, primarily due to a decrease in average costs of processed fruit products[44]. - Net profit increased from a net loss of approximately RMB 0.9 million in 2021 to a net profit of RMB 96.6 million in 2022, an increase of approximately RMB 97.5 million[49]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.05 per ordinary share[2]. - The board proposed a final dividend of approximately RMB 43.4 million for the year ended December 31, 2022, compared to no dividend in 2021[16]. - The board proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2022, subject to approval at the 2023 annual general meeting[66]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 1,295.2 million, down from RMB 1,372.5 million in 2021[5]. - Current assets decreased to RMB 729.1 million from RMB 821.8 million in the previous year[5]. - Cash and cash equivalents increased to RMB 659.6 million from RMB 490.1 million in 2021[5]. - Total liabilities decreased to RMB 235.3 million from RMB 255.5 million in 2021[5]. - The group’s trade receivables net amount was RMB 116,007,000 as of December 31, 2022, compared to RMB 127,241,000 in 2021[17]. - Total equity and liabilities as of December 31, 2022, were approximately RMB 1,129.5 million and RMB 243.0 million, respectively[53]. Research and Development - The company engaged in research and development expenditures amounting to RMB 9.3 million, down from RMB 27.6 million in 2021[4]. - The group is focusing on R&D, increasing product variety, and enhancing packaging design to strengthen revenue and profitability[29]. - The company is focused on innovation and has been recognized as a high-tech enterprise, indicating strong technical and innovative capabilities[33]. - Research and development expenses decreased from RMB 27.6 million in 2021 to RMB 22.9 million in 2022, a reduction of approximately RMB 4.7 million or 17.0%[46]. Sales and Market Performance - The group's revenue from domestic sales was RMB 644,547,000 in 2022, a decrease of 21.5% from RMB 821,770,000 in 2021[10]. - Direct overseas sales amounted to RMB 36,180,000 in 2022, down 27.5% from RMB 49,808,000 in 2021[10]. - Sales from the company's own brand products accounted for 57.4% of total revenue, with sales dropping from approximately RMB 500.7 million to RMB 390.5 million, a decrease of about RMB 110.2 million or 22.0%[39]. - The OEM business continued to develop steadily, with sales from OEM products decreasing from approximately RMB 316.7 million to RMB 248.5 million, a decline of RMB 68.2 million or 21.5%[40]. - The fresh fruit sales network is planned to be expanded to more regions, leveraging the rich fruit resources around the Yunnan production base[32]. - The company has successfully developed new fruit particle vitamin sports drinks and fruit enzyme sports drinks, which are expected to be launched in the market shortly[34]. - The company aims to explore more acquisition and strategic cooperation opportunities to enrich existing businesses and expand its business network[36]. - The functional beverage market in China is projected to grow from RMB 123.8 billion in 2021 to RMB 182.0 billion by 2026, with a compound annual growth rate of 8.0%[34]. - The company plans to leverage digital technology to enhance online sales of its own brand products[31]. Operational Efficiency - Selling and distribution expenses decreased from approximately RMB 22.1 million in 2021 to approximately RMB 9.3 million in 2022, a reduction of about RMB 12.8 million or 57.9%[45]. - General and administrative expenses increased from RMB 30.9 million in 2021 to RMB 40.3 million in 2022, an increase of approximately RMB 9.4 million or 30.4%[47]. - As of December 31, 2022, the company's current ratio was 3.49, up from 2.85 in 2021[50]. - The group had 494 employees as of December 31, 2022[58]. - The total employee cost was approximately RMB 32.7 million, a decrease from RMB 46.9 million as of December 31, 2021[58]. Corporate Governance and Compliance - The group has complied with the corporate governance code, except for the provision regarding the separation of the roles of chairman and CEO[63][64]. - The group has no significant contingent liabilities or unpaid obligations as of December 31, 2022[59]. - The group has not implemented any hedging measures to mitigate foreign exchange risks, which arise mainly from transactions in currencies other than RMB[57]. - The independent auditor's report issued a qualified opinion regarding the financial statements due to the inability to access necessary accounting records from a subsidiary[26]. - The group has no significant changes in accounting policies or impacts from new standards that would affect future reporting periods[9]. - The group’s auditor confirmed that the figures in the preliminary announcement are consistent with the consolidated financial statements for the year ended December 31, 2022[62].
天韵国际控股(06836) - 2022 - 年度业绩