Financial Performance - Revenue for the year ended December 31, 2022, was RMB 1,032.2 million, a decrease of 11.6% compared to RMB 1,168.1 million in 2021[7] - Profit attributable to the company's owners for 2022 was RMB 21.5 million, down 80.8% from RMB 122.7 million in 2021[7] - Basic earnings per share decreased to RMB 0.7, an 81.6% decline from RMB 3.8 in the previous year[7] - Gross profit for the year was RMB 160.5 million, down from RMB 310.5 million in 2021[8] - The company reported a pre-tax profit of RMB 35.7 million, a significant decrease from RMB 163.0 million in the previous year[8] - The company's net profit attributable to shareholders for the year was RMB 23,565,000, a decrease of 80.8% compared to RMB 122,652,000 in the previous year[56] - The total tax expense for the year was RMB 14,212,000, down from RMB 42,974,000 in the previous year, reflecting a significant reduction of 66.9%[60] Cash Flow and Assets - Net cash flow from operating activities was RMB 106.0 million, a decrease of 41.0% from RMB 179.7 million in 2021[7] - Total assets increased by 1.3% to RMB 3,354.4 million from RMB 3,312.1 million in 2021[7] - Cash and cash equivalents decreased from RMB 998,897 thousand in 2021 to RMB 953,950 thousand in 2022, a decline of approximately 4.5%[19] - The company's net asset value decreased from RMB 2,655,588 thousand in 2021 to RMB 2,519,442 thousand in 2022, a decrease of approximately 5.1%[21] - The net cash position as of December 31, 2022, was approximately RMB 828,400,000, a decrease of about RMB 112,800,000 from RMB 941,200,000 at the end of 2021, with a debt-to-equity ratio of 21.5% compared to 16.1% in the previous year[118] Liabilities and Equity - Total liabilities increased from RMB 618,021 thousand in 2021 to RMB 805,726 thousand in 2022, representing a rise of approximately 30.4%[19] - The total equity attributable to owners decreased from RMB 2,630,417 thousand in 2021 to RMB 2,496,366 thousand in 2022, a decrease of approximately 5.1%[21] - The total non-current liabilities decreased from RMB 38,461 thousand in 2021 to RMB 29,243 thousand in 2022, a decrease of approximately 24.0%[21] Revenue Sources and Customer Performance - Revenue from external customers in mainland China decreased to RMB 898,956 thousand in 2022 from RMB 1,056,900 thousand in 2021, representing a decline of approximately 15%[32] - Major customer 1 contributed RMB 185,654 thousand in 2022, down from RMB 200,676 thousand in 2021, a decline of approximately 7.5%[35] - Major customer 2's revenue decreased to RMB 149,546 thousand in 2022 from RMB 191,406 thousand in 2021, reflecting a drop of around 22%[35] Operational Challenges and Market Conditions - The company is facing challenges from the ongoing COVID-19 pandemic and geopolitical tensions, impacting both product sales and supply chain stability[60] - The supply of cow inner skin, a key raw material for collagen protein casings, has tightened this year, leading to increased costs[85] Research and Development - The company has completed several R&D and technical improvement projects aimed at increasing production capacity without expanding facilities, thereby reducing production costs[64] - The company aims to further develop medical collagen products, focusing on higher purity, better activity, and lower costs, while advancing clinical trials for collagen bone filler materials and aesthetic products[128] - The group has developed multiple new skincare products and upgraded product formulations, with new products set to launch soon[103] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.02 per share and a special final dividend of HKD 0.04 per share, unchanged from the previous year[7] - The proposed final ordinary dividend per share is 2.0 HKD cents, consistent with the previous year, totaling RMB 56,279,000, an increase of 7.4% from RMB 52,521,000[55] - The proposed special final dividend per share is 4.0 HKD cents, totaling RMB 112,559,000, up 7.0% from RMB 105,042,000 in the previous year[55] Future Plans and Strategies - The company plans to enhance the production facilities for collagen protein products and adjust marketing strategies, including expanding the marketing team and utilizing online live streaming to improve performance[127] - The group plans to focus on stabilizing quality while expanding production capacity and enhancing efficiency in the collagen casing business in 2023[153] - The group aims to develop new products in the collagen skincare sector, including daily skincare and cleansing products, to broaden the product chain[154] - The company is committed to the continuous development of the health industry and further expanding the technical applications of collagen to provide better returns for shareholders[169]
神冠控股(00829) - 2022 - 年度业绩