Financial Performance - Revenue for the year ended December 31, 2023, increased by approximately RMB 18.4 million or about 1.7% to approximately RMB 1,078.6 million compared to RMB 1,060.2 million for the year ended December 31, 2022[3]. - Gross profit decreased by approximately RMB 4.0 million or about 2.8% to approximately RMB 138.9 million for the year ended December 31, 2023, down from RMB 142.9 million for the previous year[3]. - Net profit for the year ended December 31, 2023, was approximately RMB 34.5 million, a decrease of approximately RMB 15.4 million or about 30.8% from RMB 49.9 million for the year ended December 31, 2022[3]. - Basic and diluted earnings per share for the year ended December 31, 2023, were approximately RMB 5.76[3]. - The company reported a net income of RMB 1,319,000 in 2023, down from RMB 4,252,000 in 2022, indicating a significant decrease of 69.0%[20]. - The company's net profit decreased by approximately RMB 15.4 million to RMB 34.5 million for the year ended December 31, 2023, down from RMB 49.9 million for the year ended December 31, 2022[38]. - The group's annual profit decreased from approximately RMB 49.9 million for the year ended December 31, 2022, to approximately RMB 34.5 million for the year ended December 31, 2023, representing a decline of about RMB 15.4 million or approximately 30.9%[50]. Revenue Breakdown - Sales of plain fabric amounted to RMB 875,010,000 in 2023, up from RMB 811,752,000 in 2022, reflecting a growth of 7.8%[16]. - Revenue from dyeing and processing services decreased to RMB 44,142,000 in 2023 from RMB 46,367,000 in 2022, a decline of 4.8%[16]. - Revenue from external customers in China was RMB 822,986,000 in 2023, an increase from RMB 781,805,000 in 2022, representing a growth of 5.4%[18]. - The company's revenue for 2023 reached RMB 1,078,628,000, a slight increase of 1.7% compared to RMB 1,060,218,000 in 2022[16]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 585.6 million, compared to RMB 539.6 million as of December 31, 2022[7]. - Current liabilities as of December 31, 2023, were RMB 526.8 million, an increase from RMB 491.8 million as of December 31, 2022[7]. - The company’s total equity increased to RMB 276.2 million as of December 31, 2023, from RMB 259.1 million as of December 31, 2022[8]. - The asset-liability ratio as of December 31, 2023, was approximately 66.3%, unchanged from 2022[54]. - As of December 31, 2023, the group's total interest-bearing bank borrowings amounted to approximately RMB 313.4 million, an increase from approximately RMB 288.3 million in 2022[56]. Expenses - The company's financial costs increased to RMB 15.2 million for the year ended December 31, 2023, compared to RMB 12.0 million for the previous year[6]. - Total employee costs amounted to RMB 68,400,000 in 2023, up from RMB 64,326,000 in 2022, reflecting an increase of 4.2%[9]. - The company's selling and distribution expenses decreased by approximately 3.5% to RMB 29.1 million for the year ended December 31, 2023, down from RMB 30.2 million for the year ended December 31, 2022[46]. - Administrative expenses increased to RMB 55.0 million for the year ended December 31, 2023, up from RMB 45.8 million for the year ended December 31, 2022, due to various factors including increased salaries and consulting fees[47]. - Financial costs rose to RMB 15.2 million for the year ended December 31, 2023, from RMB 12.0 million for the year ended December 31, 2022, primarily due to an increase in average bank borrowings[48]. Dividends - The board has proposed a final dividend of HKD 0.03 per share for the year ended December 31, 2023, subject to shareholder approval at the annual general meeting[3]. - The company proposed a final dividend of HKD 0.03 per share for the year ending December 31, 2023, consistent with the previous year[25]. - The board proposed a final dividend of HKD 0.03 per share for the year ending December 31, 2023, subject to shareholder approval at the annual general meeting on June 28, 2024[63]. Taxation - The company's income tax expense for 2023 was RMB 9,953,000, a decrease from RMB 13,370,000 in 2022, reflecting a reduction of 25.0%[22]. - The income tax expense decreased from approximately RMB 13.4 million for the year ended December 31, 2022, to approximately RMB 10.0 million for the year ended December 31, 2023, primarily due to a decrease in profit before tax from approximately RMB 63.3 million to approximately RMB 44.5 million[49]. Operational Insights - The company plans to enhance its sales and marketing efforts in China to capture opportunities from the recovering domestic demand[39]. - The company is exploring the feasibility of establishing production facilities in Southeast Asia to align with international clothing brands relocating their production bases[40]. - The group operates entirely in China, with all non-current assets located in the region[18]. Employee and Governance - The group employed 541 full-time employees as of December 31, 2023, an increase from 482 employees in 2022[58]. - The company has adhered to all applicable provisions of the corporate governance code for the year ending December 31, 2023, except for a deviation regarding the separation of the roles of Chairman and CEO[66]. Audit and Compliance - The audit committee reviewed the audited financial performance for the year ending December 31, 2023, and discussed risk management and internal controls with management[70]. - The company's auditor confirmed that the figures in the preliminary announcement for the year ending December 31, 2023, align with the draft consolidated financial statements[71]. - The annual results announcement will be published on the Hong Kong Stock Exchange website and the company's website[72].
亚东集团(01795) - 2023 - 年度业绩