Financial Performance - The total revenue decreased by 41.1% from RMB 58,116 million for the year ended December 31, 2022, to RMB 34,255 million for the year ended December 31, 2023[3]. - The net profit for the year ended December 31, 2023, was RMB 1,034 million, down from RMB 8,775 million for the year ended December 31, 2022, resulting in a net profit margin of 3%[2]. - The company’s net interest income decreased by 34.9% from RMB 18,981 million for the year ended December 31, 2022, to RMB 12,348 million for the year ended December 31, 2023[4]. - The guarantee income fell by 40.4% from RMB 7,373 million for the year ended December 31, 2022, to RMB 4,392 million for the year ended December 31, 2023[4]. - Net profit decreased by 88.2% from RMB 8,800 million for the year ended December 31, 2022, to RMB 1,000 million for the year ended December 31, 2023[9]. - The company recorded a total comprehensive income of RMB 569,505 thousand for the year ended December 31, 2023, down from RMB 7,194,190 thousand in the previous year[22]. - Basic earnings per share for the year ended December 31, 2023, were RMB 0.77, compared to RMB 7.60 for the previous year, indicating a substantial decrease[24]. Expenses and Cost Management - The total expenses decreased by 27.7% from RMB 45,102 million for the year ended December 31, 2022, to RMB 32,610 million for the year ended December 31, 2023[5]. - Sales and marketing expenses decreased by 37.4% from RMB 15,757 million for the year ended December 31, 2022, to RMB 9,867 million for the year ended December 31, 2023[6]. - General and administrative expenses decreased by 18.6% from RMB 2,830 million for the year ended December 31, 2022, to RMB 2,305 million for the year ended December 31, 2023[6]. - Operating and service expenses decreased by 4.8% from RMB 6,430 million for the year ended December 31, 2022, to RMB 6,119 million for the year ended December 31, 2023[6]. - Credit impairment losses decreased by 23.3% from RMB 16,550 million for the year ended December 31, 2022, to RMB 12,697 million for the year ended December 31, 2023[6]. Loans and Credit Management - The loan balance as of December 31, 2023, was RMB 315.4 billion, a decrease of 45.3% compared to RMB 576.5 billion as of December 31, 2022[3]. - The company achieved a new loan sales risk-bearing increase to 49.8% as of December 31, 2023, compared to 21.3% as of December 31, 2022[1]. - New loans issued in 2023 amounted to RMB 126,598,504 thousand, a significant decrease compared to the previous year[60]. - The total customer loans on the balance sheet as of December 31, 2022, amounted to RMB 218,509,623 thousand, while as of December 31, 2023, it decreased to RMB 136,967,787 thousand[60]. - The expected credit loss ratio increased from 3.23% in 2022 to 5.31% in 2023[57]. - The total expected credit loss provisions as of December 31, 2023, were RMB 7,273,833 thousand, up from RMB 7,062,978 thousand in 2022[61]. - The company wrote off customer loans amounting to RMB 6,572 million in 2023, with ongoing collection efforts for previously written-off amounts[61]. Cash Flow and Liquidity - Cash and cash equivalents decreased from RMB 43,882 million as of December 31, 2022, to RMB 39,599 million as of December 31, 2023[10]. - Operating cash inflow for the year ended December 31, 2023, was RMB 15,030 million, compared to RMB 4,455 million for the year ended December 31, 2022[11]. - Financing cash outflow for the year ended December 31, 2023, was RMB 20,555 million, primarily due to payments for redeeming convertible notes and borrowings[11]. - Cash and cash equivalents decreased to RMB 39,598,785 thousand from RMB 43,882,127 thousand, a reduction of about 10%[25]. - Operating cash flow increased significantly from RMB 4,455,301 thousand in 2022 to RMB 15,030,286 thousand in 2023, representing a growth of approximately 237%[30]. Corporate Governance and Shareholder Returns - The board proposed a special dividend to be paid from the share premium account, subject to shareholder approval at the annual general meeting on May 30, 2024[67]. - The company declared dividends amounting to RMB 1,438,792 thousand during the year[29]. - The company declared a cash dividend of $0.68 per share based on 1,144,226,418 shares for the fiscal year ending December 31, 2022, which was paid on April 2022[66]. - The audit committee, consisting of three independent non-executive directors, oversees the integrity of the company's financial statements and compliance with legal and regulatory requirements[71]. - The company has complied with all applicable provisions of the Corporate Governance Code since its listing date until December 31, 2023, with the exception of the separation of roles between the chairman and CEO[68]. Future Outlook and Strategic Initiatives - The company anticipates growth in retail credit financing and wealth management markets[80]. - Future business development and financial performance are expected to be influenced by economic and regulatory factors[80]. - The company plans to enhance its service demand and market acceptance[80]. - The company aims to expand its market presence and explore new strategies for growth[80].
陆控(06623) - 2023 - 年度业绩