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达芙妮国际(00210) - 2023 - 年度业绩
DAPHNE INT'LDAPHNE INT'L(HK:00210)2024-03-26 11:45

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 262,644,000, an increase of 52.7% from RMB 172,093,000 in 2022[3] - Gross profit for the same period was RMB 131,385,000, up 33.5% from RMB 98,402,000 in the previous year[3] - Operating profit increased to RMB 67,637,000, representing a 59.5% rise compared to RMB 42,422,000 in 2022[3] - Net profit for the year was RMB 62,872,000, a significant increase of 67.1% from RMB 37,575,000 in the prior year[3] - Basic and diluted earnings per share rose to RMB 0.034, compared to RMB 0.021 in 2022, reflecting a growth of 61.9%[3] - The company reported other income of RMB 59,631,000, which is an increase of 25.7% from RMB 47,413,000 in the previous year[3] - Total revenue for 2023 reached RMB 262,644,000, an increase of 52.6% compared to RMB 172,093,000 in 2022[26] - The company’s basic earnings per share for 2023 was RMB 62,435,000, compared to RMB 37,136,000 in 2022, indicating a growth of 68.1%[33] - The company’s net profit attributable to shareholders for the year was approximately RMB 62.4 million, representing a 68% increase from RMB 37.1 million in 2022[76] - Total comprehensive income for the year was RMB 63,554,000, up from RMB 40,459,000 in the previous year, indicating an increase of 57%[132] - The company's shareholders' share of total comprehensive income was RMB 62,210,000, compared to RMB 37,590,000 in 2022, reflecting a growth of 65%[132] Expenses and Liabilities - Sales and distribution expenses increased to RMB 46,704,000, up 75.6% from RMB 26,627,000 in 2022[3] - Financial assets impairment loss was RMB 1,991,000, compared to a reversal of RMB 731,000 in the previous year[3] - The company’s total liabilities decreased to RMB 136,602,000 in 2023 from RMB 152,807,000 in 2022, a reduction of 10.6%[20] - The operating expenses for the year were approximately RMB 123.4 million, an increase of 19% from RMB 103.4 million in 2022, primarily due to higher sales and distribution expenses[83] Assets and Cash Flow - Cash and cash equivalents increased to RMB 366,273,000 in 2023, compared to RMB 279,639,000 in 2022, reflecting a growth of 30.9%[20] - Trade receivables decreased to RMB 3,271,000 in 2023 from RMB 11,387,000 in 2022, a decline of 71.3%[20] - The company’s inventory stood at RMB 5,058,000 as of December 31, 2023, with no prior year comparison available[20] - The asset current ratio improved to 3.0 from 2.2 in the previous year, reflecting a 36% increase[70] - The company achieved a net cash position, with no convertible bonds outstanding as of December 31, 2023[70] Customer and Revenue Insights - Revenue from licensing fees rose by 28%, increasing from approximately RMB 81.0 million to approximately RMB 103.6 million, driven by higher unit prices and overall quantities of licensed footwear products[45] - Customer A's revenue significantly increased from RMB 24.215 million to RMB 91.863 million, while Customer B's revenue slightly decreased from RMB 47.626 million to RMB 48.932 million[56] - The company’s five largest customers accounted for approximately 84% of total revenue in 2023, up from 70% in 2022, indicating increased customer concentration[140] Strategic Initiatives - The company plans to continue enhancing its supply chain and efficiency management to maintain market competitiveness[42] - The company aims to implement strict quality control measures across its supply chain to ensure product quality and customer satisfaction[42] - The company plans to expand its "Daphne Lab" online and offline stores to enhance market coverage and customer engagement[68] - The company strategically adjusted its online licensing and offline distribution networks in response to changing retail dynamics[67] - The company will continue to explore collaboration opportunities to expand its customer base, particularly among high-spending younger generations[108] Market and Brand Development - The online retail market in China grew by 11% year-on-year to RMB 15.42 trillion, making it the largest online retail market globally[65] - The overall retail sales in China grew by 7.2% year-on-year, with consumer spending becoming more cautious and value-oriented[65] - The company emphasized enhancing its core brand "Daphne" to maintain its leading position in a competitive market[65] - The company successfully launched innovative product lines, including the "Sugar-Free Series" and collaborations with designer brands, which received positive market feedback[67] - The new brand "Daphne.Lab" has gained significant market attention and online engagement[108] Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes throughout the year[90] - The company maintained sufficient public float, with over 25% of the total issued share capital held by the public as of December 31, 2023[93] Future Outlook - The company maintains a cautious outlook for 2024 due to geopolitical and macroeconomic uncertainties[108] - The company plans to expand its online licensing network and cautiously advance offline retail expansion[109]