Financial Performance - The group's revenue for the year ended December 31, 2023, was RMB 1,304,341 thousand, representing an increase of 14.3% compared to RMB 1,141,526 thousand for the year ended December 31, 2022[3]. - Gross profit for the year ended December 31, 2023, was RMB 419,012 thousand, up from RMB 374,447 thousand in the previous year, reflecting a gross margin improvement[3]. - Operating profit increased to RMB 291,344 thousand for the year ended December 31, 2023, compared to RMB 234,791 thousand for the year ended December 31, 2022, marking a growth of 24.0%[3]. - The annual profit attributable to the owners of the company was RMB 110,254 thousand, a significant increase from RMB 78,913 thousand in the previous year, representing a growth of 39.9%[3]. - The total comprehensive income for the year ended December 31, 2023, was RMB 107,868 thousand, compared to RMB 63,102 thousand in the previous year, representing a growth of 71.0%[5]. - Profit before tax rose significantly by 41.5% to RMB 129,850 thousand, compared to RMB 91,773 thousand in 2022[17]. - Net profit reached RMB 109.8 million, representing a 42.5% increase compared to RMB 77.1 million in 2022[119]. Assets and Equity - Total assets as of December 31, 2023, amounted to RMB 2,920,886 thousand, an increase from RMB 2,598,757 thousand as of December 31, 2022[7]. - The company reported a total equity of RMB 781,450 thousand as of December 31, 2023, compared to RMB 506,614 thousand in the previous year, indicating a growth of 54.2%[9]. - The company’s cash and cash equivalents increased to RMB 267,733 thousand as of December 31, 2023, compared to RMB 201,078 thousand in the previous year, showing a growth of 33.0%[7]. - The group’s total current assets amounted to RMB 1,448.8 million as of December 31, 2023, an increase from RMB 1,241.3 million in the previous year[168]. - The group’s total liabilities decreased slightly to RMB 1,181.8 million as of December 31, 2023, from RMB 1,199.5 million in 2022[168]. - The asset-liability ratio improved to 67.4%, down from 75.1% in the previous year, reflecting better financial health[138]. Financing and Lease Income - The financing lease income for the year ended December 31, 2023, was RMB 294,220 thousand, up from RMB 262,498 thousand in the previous year, reflecting a growth of 12.1%[15]. - The total financing lease receivables amounted to RMB 1,656,601 thousand as of December 31, 2023, compared to RMB 1,470,331 thousand in 2022[45]. - The net amount of financing lease receivables increased to RMB 1,670,900 million from RMB 1,483,627 million, reflecting a growth of 12.6%[101]. - The financing lease receivables rose to RMB 1,621.1 million in 2023, up from RMB 1,358.2 million in 2022[114]. Expenses and Costs - The company’s total expenses for the year were RMB 1,117,699 thousand, an increase from RMB 964,043 thousand in 2022[32]. - The company’s financial costs increased to RMB 161,494 thousand, compared to RMB 143,018 thousand in the previous year[35]. - Sales and marketing expenses increased by 21.7% to RMB 98.7 million, driven by expanded sales efforts and increased employee benefits[161]. - Other income decreased by 14.1% to RMB 12.8 million, mainly due to a reduction in tax incentives and changes in fair value of investments[161]. Market and Operational Strategy - The company primarily operates in the automotive retail sector, providing vehicle financing leasing services in China[86]. - The company aims to focus on non-luxury vehicle models to meet the needs of customers in second and third-tier cities[91]. - The company plans to enhance its sales network coverage and deepen its market presence[91]. - The company is focused on exploring potential markets and enhancing brand value and influence in the automotive service industry[96]. - The penetration rate of new and used car financing leasing services in China is expected to reach approximately 5.4% by 2027, indicating strong growth potential[121]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes since its listing date until December 31, 2023[192]. - The audit committee reviewed the accounting principles and policies adopted by the company and recommended the board to approve the audited consolidated financial statements for the year ended December 31, 2023[196]. - The company confirmed it has maintained the public float required by the listing rules as of the announcement date[198]. Employee and Workforce - As of December 31, 2023, the group employed 1,152 full-time employees, with 1,149 in China and 3 in Hong Kong[188].
喜相逢集团(02473) - 2023 - 年度业绩