Financial Performance - The company's revenue for 2023 was RMB 1,845,275 thousand, representing a 7% increase from RMB 1,719,074 thousand in 2022[10] - Gross profit for 2023 reached RMB 1,181,484 thousand, an 8% increase compared to RMB 1,098,384 thousand in 2022[10] - Profit before tax increased by 35% to RMB 185,934 thousand from RMB 137,253 thousand in the previous year[10] - Net profit attributable to the owners of the company was RMB 152,375 thousand, up 31% from RMB 116,462 thousand in 2022[10] - Basic earnings per share for 2023 was RMB 0.071, compared to RMB 0.054 in 2022[10] - Diluted earnings per share for 2023 was RMB 0.070, an increase from RMB 0.053 in 2022[10] - Total comprehensive income for the year was RMB 153,843 thousand, compared to RMB 127,028 thousand in 2022[12] Dividends - The company proposed a final dividend of RMB 0.0323 per share for the year ended December 31, 2023, compared to no dividend in 2022[36] - The board proposed a final dividend of RMB 0.0323 per ordinary share, totaling approximately RMB 70 million, which represents about 45.70% of the group's net profit for the year ended December 31, 2023[188] Assets and Liabilities - Total non-current assets as of December 31, 2023, were RMB 375,506 thousand, down from RMB 413,539 thousand in 2022[39] - Current assets increased to RMB 1,305,850 thousand in 2023 from RMB 1,105,315 thousand in 2022, representing a growth of 18.1%[39] - Total liabilities for 2023 were RMB 272,370 thousand, slightly up from RMB 266,091 thousand in 2022[39] - The company's total equity as of December 31, 2023, was RMB 1,395,767 thousand, an increase from RMB 1,238,055 thousand in 2022[40] - The group's net current assets as of December 31, 2023, were RMB 1,033.5 million, compared to RMB 839.2 million as of December 31, 2022[180] Taxation - The group's taxable profit in mainland China is subject to a corporate income tax rate of 25% for the years ending December 31, 2022, and 2023[57] - The actual tax expense for 2023 is RMB 33,559, which is 18.0% of the pre-tax profit, compared to RMB 20,791 or 15.2% in 2022[59] - The group reported a total tax expense of RMB 33,559 thousand in 2023, up from RMB 20,791 thousand in 2022, indicating a significant increase of 61.4%[88] Revenue Sources - Revenue from customer contracts for 2023 reached RMB 1,845,275 thousand, an increase of 7.35% from RMB 1,719,074 thousand in 2022[33] - E-commerce business grew by 6.1% year-on-year, contributing 45.8% to the group's overall revenue in the current fiscal year[72] - New channel business grew by 48.1% year-on-year, contributing 14.4% to total revenue in 2023, compared to 10.4% in 2022[132] - Offline channel sales accounted for 54.2% of total revenue in 2023, up from 53.6% in 2022, while online channel sales decreased to 45.8% from 46.4%[111] Expenses - Cost of goods sold increased to RMB 663,791 thousand in 2023 from RMB 620,690 thousand in 2022, representing an increase of 6.2%[83] - Research and development expenses rose to RMB 11,918 thousand in 2023, up from RMB 11,456 thousand in 2022, marking a growth of 4.0%[83] - The group's sales and distribution expenses increased from approximately RMB 891.0 million for the year ended December 31, 2022, to approximately RMB 897.1 million for the year ended December 31, 2023, primarily due to increased promotional expenses corresponding to sales growth and increased travel expenses related to business expansion[144] - Administrative expenses rose from approximately RMB 79.0 million for the year ended December 31, 2022, to approximately RMB 100.4 million for the year ended December 31, 2023, attributed to increased depreciation and additional taxes related to property and value-added tax[144] Employee and Operational Metrics - Employee costs (excluding directors' remuneration) totaled RMB 140.2 million for the year ended December 31, 2023, a decrease of about 8% from RMB 156.3 million in 2022[185] - Trade receivables turnover days remained stable at approximately 40 days for the year ended December 31, 2023[177] - Trade payables turnover days increased to approximately 50 days for the year ended December 31, 2023, compared to 43 days for the previous year[176] Product Development and Marketing - The group has established a modern dietary research center in collaboration with the Chinese Nutrition Society to enhance product formulation accuracy and nutritional value[69] - The group has partnered with various celebrities and KOLs to enhance brand visibility and attract a broader consumer base[70] - The company successfully launched the "Walnut Black Bean Sesame Powder," which has been recognized as the top-selling natural powder product on Tmall for six consecutive years[106] - The company has expanded its product offerings with health gift boxes for festive occasions, catering to the growing consumer demand for health products[107] - The company aims to establish a strong brand presence in the health food sector, leveraging distribution channel changes and consumer awareness to drive future growth[108] Financial Health - The group's interest-bearing debt ratio was approximately 0.3% as of December 31, 2023, down from 0.7% as of December 31, 2022[185] - The group's cash and bank deposits increased by approximately 20.7% to RMB 942.0 million in 2023 from RMB 781.3 million in 2022[124] - Operating cash flow net amount for 2023 was RMB 185.9 million, compared to RMB 168.5 million in 2022[125] Inventory and Trade Receivables - Trade receivables increased to RMB 215,877 thousand in 2023 from RMB 195,685 thousand in 2022, an increase of 10.3%[95] - Trade receivables within one month increased to RMB 215,651 in 2023 from RMB 185,901 in 2022, reflecting a growth of 16.0%[65] - Inventory increased to RMB 93.5 million as of December 31, 2023, from RMB 81.9 million as of December 31, 2022[176]
五谷磨房(01837) - 2023 - 年度业绩