Financial Performance - Total revenue for the year ended December 31, 2022, decreased by 9.8% to RMB 3,119.3 million from RMB 3,458.2 million in 2021[7]. - Interest income for the year was RMB 1,922.1 million, down 2.5% from RMB 1,971.8 million in the previous year[7]. - Net profit for the year fell by 54.8% to RMB 532.5 million compared to RMB 1,179.3 million in 2021[7]. - The adjusted net profit under non-IFRS was RMB 537.4 million, a decrease of 55.7% from RMB 1,212.6 million in the previous year[7]. - Operating profit decreased by 54.1% to RMB 695.1 million from RMB 1,513.6 million for the year ended December 31, 2021, attributed to a strategic shift in the loan portfolio[41]. - The company reported a profit attributable to owners of the company of RMB 532,466 thousand for 2022, down 54.9% from RMB 1,179,275 thousand in 2021[133]. - Basic earnings per share for the year were RMB 1.09, down from RMB 2.42 in the previous year, reflecting a decrease of approximately 55.0%[118]. User and Customer Metrics - The number of registered users increased to 126.8 million by the end of the year, contributing to 84.0% of the loan volume from repeat customers[5]. - The company reported a significant increase in loan facilitation service fees, which rose by 1.6% to RMB 1,564.4 million[7]. - Total revenue from loan facilitation service fees for 2022 was RMB 1,564,359 thousand, an increase of 1.6% from RMB 1,539,952 thousand in 2021[129]. Business Strategy and Development - The company successfully adjusted its business strategy to overcome challenges posed by COVID-19 measures, enhancing operational resilience[4]. - The company plans to continue optimizing and broadening its credit solutions to improve customer service and brand loyalty[18]. - The company aims to seek investment or partnership opportunities in complementary industries in regions such as Hong Kong, Southeast Asia, and Europe to expand and diversify its business[28]. - The company will continue to review potential business prospects and make appropriate investments when opportunities arise[28]. Financial Position and Assets - The total assets as of December 31, 2022, were RMB 10,103.4 million, down from RMB 11,276.9 million in 2021, representing a decline of approximately 10.4%[120]. - The total liabilities decreased to RMB 6,277.7 million from RMB 7,883.2 million, a reduction of about 20.3%[120]. - The total amount of customer loans measured at fair value decreased by 28.6% to RMB 5,230.5 million as of December 31, 2022, from RMB 7,322.0 million as of December 31, 2021[50]. - The year-end balance of guaranteed receivables increased to RMB 787,396 thousand from RMB 325,331 thousand in the previous year, indicating growth in new business[53]. Cash Flow and Financing - Cash inflow from operating activities for the year ended December 31, 2022, was RMB 3,042,945 thousand, compared to an outflow of RMB 1,017,949 thousand for the previous year[58]. - The net cash outflow from financing activities for the year was RMB 3,177.3 million, compared to a net cash inflow of RMB 1,545.6 million for the year ended December 31, 2021[112]. - The company’s cash and cash equivalents as of December 31, 2022, were RMB 1,592,365,000, compared to RMB 1,907,940,000 as of December 31, 2021[190]. Expenses and Provisions - Research and development expenses increased by 20.8% to RMB 97.7 million from RMB 80.9 million for the year ended December 31, 2021, due to increased employee benefits related to enhanced technical capabilities[41]. - The expected credit loss provision for the year was RMB (80,580) thousand, compared to RMB (4,814) thousand in 2021, indicating a significant increase in provisions[141]. - The company’s total expenses for loan realization and service fees increased to RMB (1,123,097) thousand in 2022 from RMB (1,006,387) thousand in 2021, representing a rise of 11.6%[130]. Regulatory and Compliance - The company aims to ensure compliance with regulatory standards for sustainable development[19]. - The company has consolidated several structured entities primarily related to trust plans, assessing the ability to act as an agent or principal[200]. Shareholder Returns - The proposed final dividend for the year is HKD 0.10 per share, pending shareholder approval, compared to HKD 0.15 per share for the previous year[182]. - The company plans to distribute the proposed final dividend on or around July 12, 2023, if approved by shareholders[182].
维信金科(02003) - 2022 - 年度业绩