Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 10,265,310 thousand, a slight increase of 0.1% compared to RMB 10,255,225 thousand in 2022[2] - EBITDA for the year increased by 17.8% to RMB 1,351,991 thousand from RMB 1,147,316 thousand in the previous year[2] - Net profit for the year was RMB 485,478 thousand, up 0.2% from RMB 484,678 thousand in 2022[2] - Basic earnings per share decreased by 2.5% to RMB 0.426 from RMB 0.437 in the previous year[2] - Gross profit margin improved, with gross profit rising to RMB 1,605,297 thousand from RMB 1,282,140 thousand, reflecting a significant increase in profitability[4] - The company reported a total comprehensive income of RMB 435,943 thousand for the year, compared to RMB 140,649 thousand in 2022[5] - The company's net assets increased to RMB 5,927,892 thousand from RMB 5,728,402 thousand in the previous year[7] - The group reported a significant increase in bank interest income to RMB 26,068 thousand in 2023, compared to RMB 15,608 thousand in 2022, representing a growth of 67.1%[28] - The company's income tax for 2023 was RMB 140,814,000, an increase of 26.4% from RMB 111,415,000 in 2022[35] - The basic earnings per share for 2023 was RMB 0.426, a decrease from RMB 0.437 in 2022, with total profit attributable to ordinary shareholders of RMB 474,760,000[39][40] Assets and Liabilities - Total non-current assets increased to RMB 6,861,579 thousand in 2023 from RMB 6,683,943 thousand in 2022[6] - Total current assets slightly decreased to RMB 7,381,180 thousand from RMB 7,390,563 thousand in the previous year[6] - Total liabilities increased, with current liabilities rising to RMB 7,905,712 thousand from RMB 6,828,393 thousand in 2022[6] - As of December 31, 2023, the group's net assets were approximately RMB 59.28 billion, up from RMB 57.28 billion in 2022[57] - The total borrowings amounted to approximately RMB 52.81 billion as of December 31, 2023, with a leverage ratio of about 52.0%, down from 52.6% in 2022[58] Cash Flow and Investments - Operating cash flow for 2023 was RMB 1,224,829,000, an increase from RMB 1,047,125,000 in 2022, representing a growth of approximately 17%[9] - The company reported a net cash flow from operating activities of RMB 810,357,000 for 2023, compared to RMB 894,550,000 in 2022, indicating a decrease of about 9%[9] - Cash used in investing activities for 2023 was RMB 522,868,000, a reduction from RMB 807,463,000 in 2022, indicating a decrease of approximately 35%[10] - New bank loans raised in 2023 amounted to RMB 85,091,000, a significant decrease from RMB 1,383,415,000 in 2022[11] - The company reported a net cash outflow from financing activities of RMB 286,426,000 in 2023, compared to a net inflow of RMB 346,155,000 in 2022[11] - The ending cash and cash equivalents balance for 2023 was RMB 2,391,737,000, slightly up from RMB 2,380,067,000 in 2022[11] Revenue Breakdown - Revenue from tinplate packaging was RMB 4,209,774 thousand in 2023, slightly down from RMB 4,212,735 thousand in 2022, indicating a decrease of 0.1%[22] - Revenue from aluminum packaging was RMB 5,346,209 thousand in 2023, down from RMB 5,368,106 thousand in 2022, reflecting a decrease of 0.4%[22] - Revenue from plastic packaging increased to RMB 709,327 thousand in 2023, up from RMB 674,384 thousand in 2022, showing a growth of 5.2%[22] - Revenue from external customers in China was RMB 9,442,898 thousand in 2023, a decrease from RMB 9,572,088 thousand in 2022, representing a decline of 1.4%[23] - Overseas revenue increased to RMB 822,412 thousand in 2023, up from RMB 683,137 thousand in 2022, indicating a growth of 20.4%[23] Customer Contributions - Major customer A contributed RMB 1,264,768 thousand in 2023, down from RMB 1,380,647 thousand in 2022, a decrease of 8.4%[24] - Major customer B's revenue contribution was RMB 1,150,533 thousand in 2023, an increase from RMB 1,101,412 thousand in 2022, reflecting a growth of 4.5%[24] Operational Metrics - The company operates 38 subsidiaries and joint ventures in China, enhancing its service capabilities to customers[44] - The effective tax rate for the company's subsidiaries in China is 15%, with one subsidiary qualifying for a reduced rate of 2.5%[36] - The company has implemented strict credit control measures to minimize credit risk associated with trade receivables[41] - Trade receivables from third parties increased to RMB 2,530,346,000 in 2023 from RMB 2,481,450,000 in 2022, while total trade receivables and notes receivable reached RMB 2,819,521,000[41] - Trade payables decreased to RMB 2,300,044,000 in 2023 from RMB 2,422,478,000 in 2022, indicating improved cash flow management[43] Dividends and Shareholder Returns - The company does not recommend the distribution of a final dividend for the year ending December 31, 2023, compared to a final dividend of RMB 0.098 per share in 2022[37] - The company did not recommend a final dividend for the year ended December 31, 2023, following a mid-term dividend of RMB 0.122 per share paid on September 25, 2023[64] Audit and Compliance - The company has submitted unaudited financial data for the year ending December 31, 2023, and the audited financial statements for the year ending December 31, 2022, to the Hong Kong Companies Registry[14] - The auditor has issued a report on the financial statements for the year ending December 31, 2022, with no reservations or emphasis of matter[14] - The audit committee reviewed the draft consolidated financial statements for the year ending December 31, 2023, and found no objections to the annual performance announcement[67] - The preliminary performance announcement figures have been agreed upon by the company's auditor, indicating that they reflect the draft consolidated financial statements for the year[70] - The annual report for 2023 will be published on the stock exchange and the company's website in due course[71]
中粮包装(00906) - 2023 - 年度业绩