Financial Performance - For the year ended December 31, 2022, the company's revenue was approximately RMB 1,269.7 million, a slight decrease of 0.2% compared to approximately RMB 1,271.7 million for the year ended December 31, 2021[2]. - The company's gross profit for the year ended December 31, 2022, was approximately RMB 785.7 million, down 5.0% from approximately RMB 826.6 million for the year ended December 31, 2021[2]. - The net profit for the year ended December 31, 2022, was approximately RMB 213.2 million, a decrease of 25.4% compared to approximately RMB 285.6 million for the year ended December 31, 2021[2]. - Adjusted EBITDA for the year ended December 31, 2022, was approximately RMB 295.6 million, down 29.2% from approximately RMB 417.5 million for the year ended December 31, 2021[2]. - The adjusted net profit for the year ended December 31, 2022, was approximately RMB 232.4 million, a decrease of 33.1% compared to approximately RMB 347.5 million for the year ended December 31, 2021[2]. - Basic earnings per share for the year ended December 31, 2022, were RMB 1.28, compared to RMB 1.93 for the year ended December 31, 2021[8]. - The company's net profit decreased by 25.4% from RMB 285.6 million for the year ended December 31, 2021, to RMB 213.2 million for the year ended December 31, 2022, with a net profit margin of 16.8% compared to 22.5% in the previous year[140]. Dividends and Shareholder Returns - The board proposed a special final dividend of HKD 0.68 per share for the year ended December 31, 2022[3]. - The company proposed a special final dividend of HKD 0.68 per share for the year ended December 31, 2022, down from HKD 1.22 per share in 2021[101]. Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 4,486.2 million, an increase from RMB 4,140.8 million as of December 31, 2021[10]. - Total liabilities as of December 31, 2022, were RMB 884.0 million, compared to RMB 826.1 million as of December 31, 2021[12]. - The company's equity attributable to owners was RMB 3,606.8 million as of December 31, 2022, up from RMB 3,319.1 million as of December 31, 2021[11]. Cash Flow and Investments - Operating cash flow for the year ended December 31, 2022, was RMB 182,776 thousand, a decrease of 64.1% from RMB 509,130 thousand in 2021[13]. - Net cash from operating activities for the year ended December 31, 2022, was RMB 146,870 thousand, down 66.7% from RMB 441,713 thousand in 2021[13]. - Cash used in investing activities amounted to RMB (89,784) thousand, compared to RMB (195,551) thousand in 2021, indicating a 54.1% improvement[13]. - Cash flow from financing activities showed a net outflow of RMB (193,612) thousand, a significant decrease from a net inflow of RMB 2,523,244 thousand in 2021[13]. - Cash and cash equivalents at the end of the year were RMB 3,649,376 thousand, slightly up from RMB 3,626,983 thousand in 2021[13]. Revenue Breakdown - Total revenue for the year ended December 31, 2022, was RMB 1,269,706 thousand, slightly down from RMB 1,271,677 thousand for the year ended December 31, 2021[72]. - Revenue from invisible orthodontic solutions was RMB 1,209,582 thousand, an increase from RMB 1,183,801 thousand in the previous year, while revenue from other services decreased to RMB 15,733 thousand from RMB 19,777 thousand[72]. - Revenue from intraoral scanners recognized at a point in time was RMB 44,391 thousand, down from RMB 68,099 thousand in the previous year[72]. - The revenue breakdown for 2022 shows that invisible orthodontic solutions accounted for 95.3% (RMB 1,209.6 million), while intraoral scanner sales contributed 3.5% (RMB 44.4 million) of total revenue[122]. Research and Development - The company’s research and development expenses for the year ended December 31, 2022, were RMB 2,774 thousand, compared to RMB 1,674 thousand in 2021, indicating an increase of approximately 65.7%[89]. - In 2022, the company's R&D expenditure reached RMB 147.7 million, accounting for 11.6% of revenue[114]. - The company registered a total of 143 patents and 16 software copyrights by December 31, 2022[114]. Market Strategy and Future Outlook - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[13]. - The company anticipates a challenging market environment but remains optimistic about long-term growth prospects through strategic investments and operational efficiencies[13]. - The company aims to expand its sales network and increase brand awareness and academic influence[119]. - The macroeconomic environment and potential COVID-19 impacts present uncertainties for 2023, which may affect business operations and financial performance[120]. Corporate Governance - The annual performance review for the year ended December 31, 2022, was conducted by the audit committee, which consists of three independent non-executive directors[163]. - The company has maintained compliance with the corporate governance code and the standard code for securities transactions by directors during the reporting period[163]. - The audit committee confirmed that the annual performance aligns with applicable accounting standards and legal regulations[163].
时代天使(06699) - 2022 - 年度业绩