Financial Performance - The company's main operating revenue for the year ended December 31, 2023, was RMB 867.8 million, a decrease of 6.1% compared to RMB 924.2 million in 2022[1]. - The adjusted net loss for the year was RMB 286.3 million, compared to a profit of RMB 196.0 million in 2022, reflecting a significant change in financial performance[1]. - Total revenue decreased by 6.1% from RMB 924.2 million in 2022 to RMB 867.8 million in 2023[19]. - Gross profit fell to RMB 526.5 million in 2023 from RMB 774.5 million in 2022, reflecting a significant decline[18]. - The company reported a net loss of RMB 443.3 million for the year ended December 31, 2023, compared to a loss of RMB 21.9 million for the year ended December 31, 2022[35]. - The company recorded an operating loss of RMB 340.6 million in 2023, compared to an operating profit of RMB 109.1 million in 2022[31]. Customer Metrics - The number of core enterprise customers increased by 51% to 604, while the total number of partners rose by 34.1% to 1,488[3]. - Customer retention rate decreased from 96% in 2022 to 86% in 2023, primarily due to the loss of clients in the real estate sector[3][8]. - The company added 188 new core enterprise and financial institution clients during the year, bringing the total client count to 735[8]. Technology Solutions and Growth - The total transaction volume processed by the company's technology solutions reached RMB 322.0 billion, representing a year-on-year growth of 24.2% from RMB 259.3 billion in 2022[7]. - The total supply chain assets processed by the company's technology solutions reached RMB 308.6 billion in 2023, representing a year-on-year growth of 24.9%[11]. - The company processed RMB 804 billion in supply chain assets through its e-chain cloud business, reflecting an 18.7% year-on-year growth[12]. - The company’s multi-level circulation cloud business saw a significant increase, processing RMB 136.8 billion in assets, up 82.2% year-on-year[11]. Financial Position - The company's cash and cash equivalents totaled RMB 4.85 billion as of December 31, 2023, indicating a healthy financial position[7]. - As of December 31, 2023, the group's cash and cash equivalents decreased by RMB 1,012.2 million to RMB 4,719.2 million from RMB 5,731.4 million as of December 31, 2022[41]. - The group had unused bank credit facilities of RMB 7,076.0 million as of December 31, 2023, down from RMB 9,950.0 million as of December 31, 2022[44]. - The group’s equity-to-debt ratio was 1.4% as of December 31, 2023, compared to 0.6% as of December 31, 2022[46]. Expenses and Cost Management - Total operating costs surged by 128.0% to RMB 341.2 million in 2023, despite a decrease in revenue[22]. - Research and development expenses increased to RMB 365.8 million in 2023 from RMB 351.1 million in 2022[18]. - Sales and marketing expenses decreased by 15.2% from RMB 162.6 million in 2022 to RMB 137.8 million in 2023[25]. - Administrative expenses decreased by 11.8% from RMB 235.6 million in 2022 to RMB 207.7 million in 2023[26]. Impairment and Credit Risks - Impairment losses increased from RMB 41.8 million in 2022 to RMB 214.4 million in 2023, reflecting deteriorating conditions among clients, particularly in the real estate sector[29]. - The company faced credit risk related to supply chain assets with an outstanding balance of RMB 2,644.2 million as of December 31, 2023[39]. - The overdue amounts for supply chain assets under small and medium-sized enterprise credit technology solutions total RMB 61,735,000 as of December 31, 2023, compared to RMB 38,031,000 in 2022, indicating an increase in overdue receivables[94]. Strategic Initiatives - The company is actively exploring new financing products and expanding its service offerings in response to customer needs, including cross-border supply chain financing solutions[8]. - The company aims to focus on sustainable high-growth core businesses and embrace new technologies to enhance operational efficiency in 2024[17]. - The company continues to explore market expansion opportunities and new strategies to enhance its financial technology offerings[101]. Shareholder Information - The board proposed a special dividend of HKD 0.10 per share for the year ended December 31, 2023, subject to shareholder approval at the annual general meeting scheduled for June 17, 2024[54]. - The company plans to hold its annual general meeting on June 17, 2024, with a suspension of share transfer registration from June 12 to June 17, 2024[55].
联易融科技(09959) - 2023 - 年度业绩