Financial Performance - For the year ended December 31, 2023, the company reported a revenue of RMB 1,110,412 thousand, an increase from RMB 1,032,155 thousand in 2022, representing a growth of approximately 7.6%[26]. - The company's profit before tax for 2023 was RMB 67,922 thousand, significantly higher than RMB 35,682 thousand in 2022, indicating an increase of approximately 90.2%[3]. - The net profit for the year was RMB 29,543 thousand, up from RMB 21,470 thousand in the previous year, reflecting a growth of about 37.7%[26]. - Total comprehensive income for the year was RMB 35,480 thousand, compared to RMB 29,614 thousand in 2022, marking an increase of approximately 19.8%[4]. - Basic and diluted earnings per share for 2023 were RMB 1.0, compared to RMB 0.7 in 2022, showing a growth of approximately 42.9%[5]. - The group reported a pre-tax profit of RMB 182,665 thousand, a decrease from RMB 206,975 thousand in 2022, reflecting a decline of 11.7%[46]. - The total tax expense for the year was RMB 38,379 thousand, compared to RMB 14,212 thousand in the previous year, indicating a substantial increase[44]. - The company reported a basic earnings per share of RMB 0.0097 in 2023, up from RMB 0.0073 in 2022, indicating a growth of 32.9%[71]. - Profit attributable to equity holders increased by 32.6% to RMB 31.2 million from RMB 23.6 million[168]. Revenue Breakdown - Revenue from mainland China was RMB 961,553 thousand, up 6.9% from RMB 898,956 thousand in the previous year[39]. - Revenue from Asia (excluding mainland China) increased significantly by 46.7% to RMB 99,064 thousand from RMB 67,483 thousand[39]. - The group's total revenue for 2023 reached RMB 1,110,412 thousand, an increase of 7.6% from RMB 1,032,155 thousand in 2022[39]. - The total sales revenue of collagen protein products, skincare products, and medical devices increased by approximately 23.0% compared to the same period last year[82]. Assets and Liabilities - The total assets decreased to RMB 2,403,359 thousand in 2023 from RMB 2,548,685 thousand in 2022, a decline of about 5.7%[6]. - The total equity attributable to equity holders of the parent decreased to RMB 2,376,216 thousand in 2023 from RMB 2,519,442 thousand in 2022, a decrease of approximately 5.7%[7]. - Total liabilities increased to RMB 101,658,000 in 2023 from RMB 85,003,000 in 2022, reflecting a rise of 19.6%[75]. - The net cash position as of December 31, 2023, was approximately RMB 751,200,000, down from RMB 828,400,000 at the end of 2022, with a debt-to-equity ratio of 11.7%[104]. - The group’s total bank borrowings as of December 31, 2023, amounted to approximately RMB 272,800,000, a decrease of approximately RMB 262,400,000 from RMB 535,200,000 as of December 31, 2022[128]. Cash Flow and Expenses - Cash inflow from operating activities was approximately RMB 176,400,000, while cash outflow from financing activities was about RMB 455,200,000[105]. - Employee benefits expenses increased to RMB 219,489,000 in 2023 from RMB 185,554,000 in 2022, representing a growth of 18.3%[5]. - The cost of goods sold rose to RMB 841,693,000 in 2023, compared to RMB 766,286,000 in 2022, marking an increase of 9.8%[5]. - Sales costs increased by approximately 7.8% to RMB 939,600,000, with raw material costs rising by about 8.1% to RMB 469,600,000[119]. - Sales and distribution expenses rose by approximately 3.6% to about RMB 35,000,000, with the ratio of these expenses to revenue decreasing from about 3.3% to approximately 3.1%[94]. - Administrative expenses decreased by approximately 0.7% to about RMB 152,000,000 this year[95]. - Financing costs decreased by approximately 1.5% to about RMB 9,100,000 this year[97]. Production and Operations - The group has established a stable customer base, continuing to provide quality casing products to several well-known food suppliers in China[61]. - The group is preparing for large-scale production of collagen protein products, including collagen noodles and drinks, and plans to expand product promotion and sales channels[55]. - The group has faced increased production costs due to rising raw material prices and electricity costs, impacting gross profit margins[52]. - The average production unit cost increased due to trial production expenses, which, if excluded, would have resulted in a gross profit increase of approximately RMB 52,700,000[81]. - The group plans to construct an additional 50 production lines to expand capacity to meet the demand for larger caliber products in the sausage casing industry[135]. - The company is conducting clinical trials for products such as oral medical collagen sponges and wound dressings, with some products already completing trials in multiple hospitals[84]. Dividends and Shareholder Information - The company plans to distribute a final dividend of HKD 0.02 per share and a special final dividend of HKD 0.02 per share[25]. - The board proposed a final dividend of HKD 0.02 per ordinary share and a special final dividend of HKD 0.02 per ordinary share, subject to shareholder approval[138]. - The company will hold its annual general meeting on June 3, 2024, with a record date for dividend entitlement set for June 13, 2024[161]. Strategic Initiatives - The company plans to focus on technological innovation and expanding domestic demand as part of its strategy for 2024[111]. - The company aims to drive the healthy development of the health industry by establishing a solid foundation for collagen protein raw material production[60]. - The company has established a diversified product development strategy centered around collagen protein, including collagen-based food, skincare products, and medical devices[156]. - The company aims to promote innovative applications of collagen protein in the food sector, providing high-value health food products[157]. - The company plans to expand its marketing strategies and teams to improve performance, utilizing both in-store experiences and online live broadcasts[157]. Compliance and Governance - The company has confirmed compliance with all applicable laws, accounting standards, and regulations during the fiscal year[146]. - The company is considering the feasibility of appointing a separate CEO to ensure compliance with governance standards[144]. - The company did not engage in any significant investments, acquisitions, or disposals of subsidiaries during the year[109]. - The company has not engaged in any purchases, redemptions, or sales of its listed securities during the fiscal year[163].
神冠控股(00829) - 2023 - 年度业绩