Financial Performance - For the fiscal year ending December 31, 2023, the total revenue was RMB 1,608,784,000, a decrease of 2.7% compared to RMB 1,653,226,000 for the fiscal year ending December 31, 2022[1]. - Gross profit for the year was RMB 351,858,000, representing a significant increase of 30.7% from RMB 269,164,000 in the previous year[1]. - The company reported a net loss attributable to owners of the company of RMB 19,698,000, an improvement from a net loss of RMB 112,663,000 in the prior year[3]. - The group reported a total revenue of RMB 1,474,726,000 for the year ended December 31, 2023, compared to RMB 1,770,388,000 in 2022, reflecting a decline of about 17%[61]. - The group's revenue for the year decreased from RMB 1,653.2 million to RMB 1,608.8 million, representing a year-on-year decline of 2.7% due to project terminations[88]. - The group’s gross profit increased to RMB 351.9 million with a gross margin of 21.9%, up from RMB 269.2 million in the previous year[102]. - The group’s EBITDA for the year totaled RMB 838.3 million, down from RMB 1,154.5 million in the previous year[102]. - EBITDA decreased by RMB 316.2 million or 27.4% from RMB 1,154.5 million in 2022 to RMB 838.3 million in 2023[123]. - Loss attributable to owners decreased by RMB 93.0 million or 82.5% from RMB 112.7 million in 2022 to RMB 19.7 million in 2023[124]. Assets and Liabilities - Total liabilities decreased to RMB 2,630,154,000 from RMB 2,880,860,000, indicating a reduction of approximately 8.7%[7]. - The company’s total equity decreased to RMB 247,382,000 from RMB 272,148,000, a decline of approximately 9.1%[7]. - Total assets decreased to RMB 2,877,536 thousand as of December 31, 2023, down from RMB 3,153,008 thousand in 2022, reflecting a decline of approximately 8.7%[21]. - The group’s accounts receivable and other receivables totaled RMB 559,116,000 as of December 31, 2023, down from RMB 625,718,000 in 2022, indicating a decrease of approximately 11%[43]. - The group’s total borrowings as of December 31, 2023, amounted to RMB 416,945,000, an increase from RMB 323,756,000 in 2022, representing a growth of about 29%[50]. - The total current assets decreased to RMB 750.9 million in 2023 from RMB 786.8 million in 2022, reflecting a strategic adjustment in asset management[71]. Cash Flow and Financing - The company’s cash flow forecast indicates sufficient operational funds to meet financial obligations for at least the next twelve months[11]. - The company reported cash and cash equivalents of RMB 367,241 thousand, an increase from RMB 333,320 thousand in the previous year[21]. - As of December 31, 2023, the company's cash and cash equivalents, along with bank deposits, reached RMB 390.8 million, up from RMB 365.1 million in 2022, providing a solid foundation for sustainable development[80]. - Financing income from bank deposits showed a loss of RMB 4,083,000 for the year ended December 31, 2023, compared to a loss of RMB 2,203,000 in 2022, indicating a deterioration in financing income[37]. - Total financing costs amounted to RMB 131,514,000 in 2023, down from RMB 208,432,000 in 2022, reflecting a decrease of approximately 37%[37]. - The net financing cost for the year was RMB 127,431,000, a reduction from RMB 206,229,000 in the previous year, representing a decrease of about 38%[37]. - Current income tax expenses were RMB 4,311,000 in 2023, down from RMB 11,658,000 in 2022, indicating a decrease of approximately 63%[38]. Segment Performance - The airport business segment generated revenue of RMB 519,364,000, while the subway and billboard business segments generated RMB 585,493,000 and RMB 503,927,000, respectively[15]. - The airport segment recorded revenue of RMB 585.5 million, with a gross profit of RMB 158.9 million and a gross margin of 27.1%[106]. - The subway and billboard segment revenue decreased by 1.8% from RMB 596.4 million in 2022 to RMB 585.5 million in 2023, attributed to the termination of a subway line in Shenzhen[89]. - The advertising segment generated revenue of RMB 503.9 million in 2023, slightly up from RMB 502.6 million in 2022, with a gross profit of RMB 55.1 million and a gross margin of 10.9%[84]. - The company’s advertising consulting service revenue increased to RMB 4,773 thousand in 2023 from RMB 3,944 thousand in 2022[34]. Operational Adjustments - Selling and marketing expenses decreased to RMB 132,759,000 from RMB 149,306,000, reflecting a reduction of approximately 11.1%[1]. - Administrative expenses increased slightly to RMB 182,841,000 from RMB 175,838,000, showing a rise of about 4.3%[1]. - The company plans to selectively exit underperforming media resources while enhancing the performance of existing media assets to improve financial results[79]. - The accounts receivable loss provision increased by RMB 3,206,000 in the current year, compared to RMB 26,303,000 in 2022, indicating a focus on credit risk management[72]. - The company has successfully secured exclusive advertising and media resource rights for multiple subway lines in Hangzhou, enhancing its presence in a key transportation hub[83]. Employee and Governance - As of December 31, 2023, the total salary and related costs for employees amounted to RMB 223.7 million, compared to RMB 230.0 million in 2022, reflecting a decrease of approximately 2%[156]. - The group employed 796 employees as of December 31, 2023, down from 932 employees in 2022, indicating a reduction of about 14.6%[156]. - The board of directors does not recommend the payment of a final dividend for the year, consistent with the previous year[70]. - The board does not recommend the payment of a final dividend for the current year, consistent with the previous year[157]. - The audit committee and the board have reviewed and approved the audited annual results for the year ending December 31, 2023[161]. Future Outlook - The group maintains a cautious optimism for 2024, identifying potential opportunities from the increasing cross-border consumption activities between mainland China and Hong Kong despite geopolitical conflicts and inflation[86]. - The group successfully acquired several major clients, including multiple Fortune 500 companies, through its programmatic DOOH technology[86].
雅仕维(01993) - 2023 - 年度业绩