2024-03-20 08:31Financial Performance - Revenue for the year ended December 31, 2023, was RMB 8,533,611,000, representing a 12% increase from RMB 7,636,743,000 in 2022[3] - Operating profit increased by 19% to RMB 2,226,882,000 from RMB 1,868,682,000 year-over-year[3] - The company reported a profit attributable to equity holders of RMB 483,457,000, a significant recovery from a loss of RMB 6,049,409,000 in the previous year[3] - Basic earnings per share improved to RMB 0.36 from a loss of RMB 4.43 in 2022[3] - The company reported a net profit of RMB 1,215,188,000 for the year, a significant turnaround from a net loss of RMB 5,341,887,000 in the previous year[8] - The company reported a profit of RMB 1,215,188 thousand for the year ended December 31, 2023, compared to a loss of RMB 5,341,887 thousand in 2022, marking a significant turnaround[9] - Total comprehensive income for the year was RMB 1,285,670 thousand, recovering from a loss of RMB 4,841,532 thousand in the previous year[9] - The group reported a pre-tax profit of RMB 1,488,852,000 for the fiscal year ending December 31, 2023, compared to a pre-tax loss of RMB 5,721,343,000 in the previous year[27][25] - The company reported a total comprehensive loss of RMB (5,579,092) thousand for the year, which includes a significant loss of RMB (6,049,409) thousand attributed to the current year[11] Dividends and Equity - The board proposed a final dividend of HKD 0.14 per share, up from HKD 0.13 per share in 2022[5] - The company declared a dividend of RMB 162,831 thousand for the year ended December 31, 2023[10] - The company's equity attributable to owners increased to RMB 10,877,319 thousand as of December 31, 2023, from RMB 10,668,902 thousand at the end of 2022[10] - The total equity attributable to non-controlling interests was RMB 5,284,224 thousand as of December 31, 2023, compared to RMB 4,653,724 thousand in 2022[10] - The proposed final dividend is HKD 0.14 per share, an increase from HKD 0.13 per share in the previous year, totaling RMB 171,374 thousand[39] - The basic earnings attributable to ordinary equity holders for 2023 is RMB 483,457 thousand, a significant recovery from a loss of RMB 6,049,409 thousand in 2022[43] Assets and Liabilities - Total current assets increased to RMB 26,893,214,000 from RMB 23,539,831,000, reflecting a growth of approximately 14%[6] - The company’s total assets less current liabilities increased to RMB 30,314,274,000 from RMB 24,999,680,000, a growth of approximately 21%[7] - The company’s total assets reached RMB 26,573,257 thousand as of December 31, 2023, reflecting growth from the previous year[10] - The company has a deferred tax liability of RMB (74,941) thousand, compared to RMB (640,114) thousand in the previous year[39] - The group’s asset-liability ratio remained stable at 24% as of December 31, 2023, unchanged from the previous year[86] Cash Flow - The net cash flow from operating activities for the year ended December 31, 2023, was RMB 3,488,746 thousand, an increase from RMB 2,573,519 thousand in 2022, representing a growth of approximately 35.5%[12] - The net cash flow used in investing activities for 2023 was RMB (6,476,034) thousand, compared to RMB 4,421,589 thousand in 2022, indicating a significant shift in investment strategy[12] - The net cash flow from financing activities for 2023 was RMB 655,863 thousand, recovering from a net outflow of RMB (619,041) thousand in 2022[12] - The total cash and cash equivalents at the end of 2023 amounted to RMB 8,707,372 thousand, down from RMB 11,018,882 thousand at the end of 2022, reflecting a decrease of approximately 21%[12] - The cash and bank deposits held by the group amounted to RMB 20,271.2 million, accounting for 58% of total assets as of December 31, 2023[86] Research and Development - Research and development costs for the year were RMB 2,683,596,000, compared to RMB 2,552,754,000 in 2022, reflecting a continued investment in innovation[8] - R&D expenses in Q4 2023 amounted to RMB 684.9 million, a 4% increase year-on-year and 2% increase quarter-on-quarter, reflecting ongoing efforts to improve products and services[59] Employee and Compensation - Employee benefits expenses, including director remuneration, totaled RMB 3,765,451,000 for the year ending December 31, 2023, an increase from RMB 3,486,739,000 in 2022[27] - As of December 31, 2023, the company employed approximately 7,199 full-time employees, an increase from 7,116 in 2022[99] - Employee costs, including compensation for directors and senior management, were approximately RMB 3,765.5 million in 2023, compared to RMB 3,486.7 million in 2022[99] Stock Options and Share Repurchase - The company has a stock option plan in place, with 2,529,800 options remaining unexercised as of December 31, 2023, at a weighted average exercise price of HKD 20.25[32] - The 2021 stock option plan allows eligible participants, including directors and employees, to exercise options over a period of 10 years, with 5,500,000 options unexercised as of December 31, 2023, at an average exercise price of HKD 31.69[33] - The share reward plan has 4,182,220 unexercised reward shares as of December 31, 2023, down from 5,999,660 in the previous year, with 2,079,400 shares granted during the year[35] - The company repurchased a total of 9,490,000 shares at a total cost of approximately HKD 244.53 million during the year ending December 31, 2023[100] - The share repurchase was conducted at prices ranging from HKD 22.2 to HKD 29.05 per share across different months[100] Future Outlook and Strategy - The company plans to continue optimizing its solutions to enhance the digital office experience for enterprise clients, which is expected to drive further growth in subscription services[57] - The company plans to continue exploring digital office service opportunities and enhance product innovation around "multi-screen, cloud, content, collaboration, and AI" in 2024[97] Compliance and Governance - The company has adopted a standard code of conduct for securities trading by directors, confirming compliance for the year ending December 31, 2023[101] - The audit committee reviewed the financial statements for the year ending December 31, 2023, and confirmed adherence to applicable accounting standards[105] - The company has established a governance framework that includes quarterly performance updates to the board, rather than monthly as per the code[106] - Forward-looking statements regarding the company's financial condition and performance are subject to inherent risks and uncertainties[107] - The company emphasizes that actual performance may differ significantly from forward-looking statements due to various risk factors[107]