2024-03-24 22:11Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 596,569,565, an increase from RMB 552,147,550 in 2022, representing an increase of approximately 8%[7]. - The gross profit for the same period was RMB 48,511,678, compared to RMB 47,434,060 in 2022, indicating a growth of about 2.3%[7]. - The operating profit for 2023 was RMB 20,209,195, slightly down from RMB 20,604,466 in 2022, reflecting a decrease of approximately 2%[7]. - The net profit for the year was RMB 15,009,828, up from RMB 14,345,442 in 2022, marking an increase of about 4.6%[7]. - Basic and diluted earnings per share for the parent company holders increased to RMB 2.90 in 2023 from RMB 2.73 in 2022, reflecting a growth of about 6.2%[8]. - The company's net profit for the year 2023 reached RMB 15,009,828, an increase from RMB 14,345,442 in 2022, representing a growth of approximately 4.6%[9]. - The group reported a net profit of RMB 15,009,828 for 2023, compared to RMB 14,345,442 in 2022, reflecting an increase of about 5%[18]. - The company's net profit attributable to shareholders for 2023 was RMB 9,053,760 thousand, an increase from RMB 8,525,655 thousand in 2022, representing a growth of approximately 6.2%[33]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 383,394,844, up from RMB 364,775,134 in 2022, indicating an increase of approximately 5.4%[10]. - The company's total equity attributable to parent company holders rose to RMB 74,582,217 in 2023 from RMB 68,068,559 in 2022, marking an increase of around 9.1%[11]. - The company's total liabilities increased to RMB 263,076,099 in 2023 from RMB 254,705,944 in 2022, reflecting a growth of about 3.3%[11]. - The debt-to-asset ratio as of December 31, 2023, was 68.62%, down from 69.83% as of December 31, 2022[78]. - The company's cash and cash equivalents reached RMB 63,808,538 in 2023, up from RMB 55,221,624 in 2022, indicating an increase of approximately 15.5%[10]. Revenue Segments - The pharmaceutical distribution segment generated revenue of RMB 423,756,702, accounting for approximately 71% of total revenue[18]. - The pharmaceutical distribution segment generated revenue of RMB 441,050.70 million, accounting for 73.93% of total revenue, with an increase of 8.47% year-on-year[57]. - The medical device distribution segment generated revenue of RMB 130,212.94 million, reflecting a year-on-year growth of 7.75%[46]. - The pharmaceutical retail segment achieved revenue of 35,689.38 million RMB, representing a year-on-year growth of 8.22%[47]. - The professional pharmacy system's revenue grew over 20% year-on-year, significantly outpacing the industry average[47]. Operational Strategies - The company aims to enhance its supply chain capabilities and accelerate the development of strategic emerging industries, focusing on technological innovation and integration[6]. - The company plans to continue its digital transformation and service innovation, with a focus on integrated operations and professional development[5]. - The company is committed to digital transformation across various business segments, having completed upgrades for all provincial companies[49]. - The company aims to enhance its core competitiveness by optimizing resource allocation and accelerating the layout of strategic emerging industries[51]. - The logistics transformation plan is underway, focusing on building an integrated logistics operation system to enhance efficiency[49]. Employee and Compensation - As of December 31, 2023, the company has 115,959 employees, an increase from 114,766 employees as of December 31, 2022[84]. - The company follows a performance-oriented compensation management system, with a focus on efficiency and fairness[84]. - The company has a structured compensation system that includes basic salary, performance pay, and long-term incentives[84]. Governance and Compliance - The audit committee consists of four directors, including three independent non-executive directors, and has reviewed the audited financial results for the year ending December 31, 2023[91]. - The auditor, PwC, confirmed that the financial figures in the preliminary results announcement are consistent with the audited consolidated financial statements for the year ending December 31, 2023[92]. - The company has adopted all provisions of the Corporate Governance Code and has complied with its requirements during the reporting period[93]. - The board has adopted the Standard Code for securities transactions by directors and supervisors, and all confirmed compliance during the reporting period[94]. Dividends - The total proposed final dividend for 2023 is RMB 2,714,971 thousand, with a proposed dividend per share of RMB 0.87, compared to RMB 2,558,938 thousand and RMB 0.82 per share in 2022, representing an increase of approximately 6.1%[39][40]. - The board has proposed a final dividend of RMB 0.87 per share, totaling approximately RMB 2,714,971 thousand for the year ended December 31, 2023[86]. - The company will distribute the proposed final dividend by August 13, 2024, pending shareholder approval[86]. Economic Context - The overall economic growth in China for 2023 was 5.2%, with GDP reaching RMB 126.06 trillion, showing a recovery trend compared to the previous year[41].