Financial Performance - Total comprehensive income for the year ended December 31, 2023, was RMB 54,269,000, compared to a loss of RMB 6,446,000 in 2022, indicating a significant recovery[3]. - The company's net profit attributable to shareholders for the year was RMB 52,602,000, a turnaround from a loss of RMB 14,246,000 in the previous year[3]. - Basic and diluted earnings per share for the year were 5.56 cents, compared to a loss of 1.51 cents per share in 2022[3]. - The company recorded a profit of approximately RMB 52.6 million in 2023, recovering from a loss of approximately RMB 14.2 million in 2022[62]. - The profit for the year was RMB 52.6 million (2022: loss of RMB 14.2 million) [145]. Revenue Growth - Total revenue for the year reached RMB 563,959,000, a substantial increase from RMB 274,851,000 in 2022, reflecting a growth of approximately 105.5%[16]. - Revenue for 2023 reached RMB 563,959 thousand, a significant increase from RMB 274,851 thousand in 2022, representing a growth of approximately 105.5%[31]. - The company achieved revenue of approximately RMB 564.0 million in 2023, an increase of about 105.2% compared to RMB 274.9 million in 2022[51]. - Revenue from mainland China was RMB 432,391,000, significantly up from RMB 172,670,000 in 2022, representing an increase of about 150.0%[16]. - Revenue from recognized sales of goods for the year 2023 amounted to RMB 13,923 thousand, a significant increase from RMB 4,689 thousand in 2022, representing a growth of approximately 196%[161]. Cost and Profitability - The cost of goods sold for 2023 was RMB 181,316 thousand, up from RMB 111,798 thousand in 2022, indicating a rise of about 62.1%[32]. - The gross profit margin improved, with gross profit for 2023 calculated as RMB 382,643 thousand compared to RMB 163,053 thousand in 2022, reflecting an increase of approximately 134.9%[31]. - The company's gross profit increased from approximately RMB 160.0 million in 2022 to approximately RMB 379.7 million in 2023, representing a growth of about 137.3%[103]. - The gross profit margin improved from approximately 58.2% in 2022 to approximately 67.3% in 2023, driven by higher margins from the cross-border e-commerce platform[103]. Expenses and Investments - Sales and distribution expenses increased by approximately 130.2% from RMB 108.6 million in 2022 to approximately RMB 250.0 million in 2023, representing 44.3% of total revenue[60]. - The company reported a significant increase in administrative expenses to RMB 72.2 million (2022: RMB 63.9 million) [147]. - The company invested approximately RMB 0.05 million in the construction of R&D centers, factories, and equipment in 2023, down from approximately RMB 1.4 million in 2022[114]. Assets and Liabilities - Non-current assets totaled RMB 184,362,000, down from RMB 198,090,000 in the previous year[15]. - The total assets of the group amounted to RMB 505,419,000 in 2023, compared to RMB 436,987,000 in 2022, indicating a growth of about 15.6%[135]. - Trade receivables amounted to RMB 35.5 million in 2023, up from RMB 30.9 million in 2022, with a net value of RMB 32.5 million[47]. - Trade payables increased to approximately RMB 33.1 million as of December 31, 2023, from approximately RMB 21.5 million as of December 31, 2022, marking an increase of about 54.0%[112]. Strategic Initiatives - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[1]. - The company plans to leverage influencer marketing and new media platforms for product promotion, which is crucial for future product development[54]. - The company focused on enhancing brand awareness through various sales channels, including e-commerce platforms and distributors[52]. - The company continues to expand its international distribution network, including partnerships with major pharmacies and health product supermarkets in various countries[54]. - The group plans to continue executing its established strategic objectives in 2024, focusing on optimizing promotional strategies and enhancing brand influence through digital marketing[118]. Compliance and Governance - The group confirmed compliance with corporate governance codes and standards throughout the year[121]. - The company adopted revised Hong Kong Financial Reporting Standards for the first time this year, which may impact future financial reporting[7]. - The group anticipates that the amendments to the Hong Kong Financial Reporting Standards will not have a significant impact on its financial statements[155]. Other Income and Gains - Other income and gains rose from approximately RMB 7.9 million in 2022 to approximately RMB 8.5 million in 2023, mainly due to a slight increase in government subsidies[59]. - Government grants received increased to RMB 1,489 thousand in 2023 from RMB 434 thousand in 2022, reflecting a growth of about 243%[161]. - The total other income and gains for the year 2023 was RMB 8,474 thousand, compared to RMB 7,910 thousand in 2022, showing an increase of about 7.1%[161].
中生联合(03332) - 2023 - 年度业绩