Financial Performance - The net profit for 2023 was RMB 4.3 billion, with a non-GAAP net profit of RMB 4.5 billion[4]. - The net income for 2023 was RMB 4,495.5 million (USD 633.2 million), compared to RMB 3,906.6 million in the same period of 2022[16]. - The fourth quarter net income was RMB 4.5 billion, with a non-GAAP net profit of RMB 1.15 billion, and the annual non-GAAP net profit reached RMB 4.45 billion[15]. - The annual net profit for 2023 was RMB 4,268,577 thousand, up 6.6% from RMB 4,005,568 thousand in 2022[58]. - The non-GAAP net profit for the fiscal year was RMB 4,454,181, up 5.9% from RMB 4,205,305 in the previous year[62]. - The company's net profit attributable to the company was RMB 4,285.3 million (USD 603.6 million), compared to RMB 4,024.2 million in 2022, representing a year-over-year increase of 6.5%[28]. - The company reported a net profit margin of 26.2%, with a non-GAAP net profit margin of 27.3%[28]. Revenue and Income Growth - In 2023, the total loan facilitation and initiation scale reached RMB 475.8 billion, a year-on-year increase of approximately 15.4%[14]. - The total financing income for Q4 was RMB 1,485.4 million (USD 209.2 million), an increase from RMB 1,002.1 million in the same period of 2022[16]. - Financing income for the year surged to RMB 5,109,921 thousand, a 46.6% increase from RMB 3,487,951 thousand in 2022[52]. - The company's operating income was RMB 4,857.0 million (USD 684.1 million), an increase from RMB 4,472.2 million in 2022, reflecting a year-over-year growth of 8.6%[27]. - The operating income for the fiscal year was RMB 4,856,964, representing an 8.6% increase from RMB 4,472,184 in 2022[62]. Shareholder Returns - The cash dividend for 2023 is expected to be USD 170 million, with a total value of USD 132 million in share repurchases since the plan's implementation[4]. - A new share repurchase plan of USD 350 million was announced, reaffirming the existing semi-annual dividend policy[4]. - The company plans to distribute a semi-annual dividend of USD 0.58 per American Depositary Share, with a total dividend payout of approximately USD 170 million for the fiscal year 2023[33]. - The company has initiated a share repurchase plan with a total value of up to USD 150 million, having repurchased approximately 8.4 million ADS at an average price of USD 15.7 per share[35]. Loan and Credit Metrics - The total loan facilitation scale in Q4 2023 was RMB 119.0 billion, a 13.8% increase from RMB 104.6 billion in Q4 2022[6]. - The loan balance under light capital model and other technology solutions reached RMB 114.5 billion, an 18.6% increase from RMB 96.6 billion a year earlier[6]. - The number of users with approved credit limits reached 50.9 million, up 14.4% from 44.5 million a year earlier[6]. - The 90+ days overdue rate for loans was 2.35% as of December 31, 2023[6]. - The weighted average contract term for loans initiated by financial institutions was approximately 11.47 months in Q4 2023[6]. Operating Costs and Expenses - Total operating costs and expenses were RMB 3,215.9 million (USD 453.0 million), compared to RMB 2,962.7 million in the same period last year[18]. - The total operating expenses for 2023 were RMB 11,433,063 thousand, down from RMB 12,081,746 thousand in 2022, reflecting a 5.4% reduction[52]. - The company's financing costs increased to RMB 645.4 million (USD 90.9 million) from RMB 504.4 million in 2022, primarily due to increased funding from asset-backed securities[26]. Asset and Liability Overview - Total assets increased from RMB 40,343,170 thousand to RMB 45,818,572 thousand, representing a growth of approximately 11.5% year-over-year[50]. - Total liabilities rose from RMB 21,411,873 thousand to RMB 23,808,715 thousand, an increase of approximately 11.2%[50]. - The company's total equity increased from RMB 18,931,297 thousand to RMB 22,009,857 thousand, reflecting a growth of around 16.4%[50]. - Cash and cash equivalents decreased from RMB 7,165,584 thousand to RMB 4,177,890 thousand, a decline of about 41.5%[50]. Strategic Initiatives - The company expanded its customer acquisition channels and established strong embedded financial partnerships with leading internet traffic platforms[14]. - The company plans to enhance its growth strategy and expand its market presence, focusing on new product development and technological advancements[47].
奇富科技-S(03660) - 2023 Q4 - 年度业绩