Financial Performance - For the year ended December 31, 2023, the revenue from continuing operations was RMB 542.9 million, a decrease of 32.2% compared to RMB 801.3 million in 2022[19]. - The gross profit from continuing operations for 2023 was RMB 346.2 million, down 29.7% from RMB 492.6 million in 2022, with a gross margin of 63.8%, an increase of 2.3 percentage points from 61.5% in 2022[19]. - The total comprehensive loss for 2023 was RMB 358.6 million, compared to RMB 104.4 million in 2022, with a comprehensive loss attributable to owners of the company amounting to RMB 300.4 million[20]. - The basic and diluted loss per share attributable to owners for 2023 was RMB 2.45, with a loss of RMB 1.30 per share from continuing operations and RMB 1.15 per share from discontinued operations[20]. - Operating loss increased significantly to RMB 150,287,000 compared to a loss of RMB 31,377,000 in 2022[21]. - The net loss for the year was RMB 357,514,000, which is a substantial increase from RMB 104,389,000 in 2022[22]. - The accumulated losses increased to RMB 827.2 million in 2023 from RMB 527.9 million in 2022, indicating a worsening financial position[13]. - The company reported a financial cost net amount of RMB 364 thousand, with financial income of RMB 1,634 thousand and financial costs of RMB 1,998 thousand[46]. - The company’s income tax expense for 2023 was RMB 9.4 million, a significant decrease from RMB 29.0 million in 2022 due to reduced taxable profits[117]. Assets and Liabilities - Non-current assets decreased to RMB 277.1 million in 2023 from RMB 794.4 million in 2022, reflecting a significant reduction in property, plant, and equipment[12]. - Current assets totaled RMB 427.9 million in 2023, down from RMB 742.8 million in 2022, primarily due to a decrease in inventory and trade receivables[12]. - The total assets of the company decreased to RMB 704.9 million in 2023 from RMB 1,537.1 million in 2022[12]. - The company’s total liabilities decreased to RMB 150,973,000 from RMB 484,728,000 in the previous year, indicating a significant reduction in financial obligations[29]. - The company’s total equity and liabilities amounted to RMB 704,943,000, down from RMB 1,537,138,000 in 2022[29]. Revenue Breakdown - Total revenue for the tea products segment was RMB 371,119 thousand, while the weight loss and other pharmaceuticals segment generated RMB 171,757 thousand, leading to a total revenue of RMB 542,876 thousand[46]. - Revenue from the weight loss products in 2023 was RMB 161.8 million, down 28.5% from RMB 226.2 million in 2022[87]. - Revenue from an external online sales platform was approximately RMB 56,724,000, accounting for 10.4% of total revenue, slightly down from 10.9% in 2022[45]. Cost Management - The company reported a significant decrease in sales and marketing expenses to RMB 320,704,000 from RMB 378,850,000 in the previous year, reflecting a cost-cutting strategy[21]. - The company's sales cost for 2023 was RMB 196.7 million, a decrease of 36.3% from RMB 308.8 million in 2022[91]. - In 2023, the company's sales and marketing expenses amounted to RMB 320.7 million, a decrease of 15.4% from RMB 378.9 million in 2022, representing 59.1% of total revenue[94]. - Administrative expenses rose to RMB 153.1 million in 2023, up 32.3% from RMB 115.7 million in 2022, largely due to strategic adjustments and one-time severance payments[97]. Strategic Initiatives - The company continues to focus on the production and sale of functional health tea products and weight loss medications[16]. - The company engaged in strategic adjustments by establishing joint ventures and service agreements to enhance distribution and operational services[33]. - The company aims to enhance supply chain management by adopting a "one product, one strategy" approach to meet market demands for small batch and rapid response[111]. - The company plans to continue enhancing its product offerings and services in the health industry[87]. - The company aims to improve operational management efficiency and data processing capabilities while enhancing employee training and performance management systems[147]. Market Position and Future Plans - The company aims to focus on high-quality development and profitability in 2024, leveraging consumer health needs as a driver for innovation[104]. - Plans for 2024 include deepening channel development and enhancing market position through operational reforms and increased advertising[107]. - The company will strengthen cooperation with new business partners to improve channel control and pricing strategies in 2024[108]. - The company plans to continue expanding its new retail business, focusing on emerging marketing platforms like Douyin and Kuaishou to increase market share[109]. - The company has maintained a healthy financial status while adapting to market competition through operational reforms[171]. Research and Development - Research and development costs totaled RMB 34,922 thousand, with RMB 13,898 thousand from the tea products segment and RMB 21,024 thousand from the weight loss and other pharmaceuticals segment[46]. - New product development includes the successful launch of health products like Lingzhi Ginseng Granules and Lingzhi Goji Reishi Tea, expanding into liver protection and immune enhancement markets[185]. - The company has strengthened its innovation capabilities by refining health food product approvals and enhancing production management processes[185]. Corporate Social Responsibility - The company has established a charity fund in collaboration with the Beijing Charity Foundation, which provided various forms of assistance to disadvantaged groups in 2022[195]. - The company has donated over RMB 3.5 million to environmental protection initiatives since 2015, raising public awareness about wildlife protection[195].
碧生源(00926) - 2023 - 年度业绩