Financial Performance - The net loss from financial assets at fair value through profit or loss for 2023 was $9,028,514, a significant improvement compared to a loss of $199,780,049 in 2022[12]. - Investment income for 2023 increased to $19,117,038, up from $14,847,528 in 2022, reflecting a growth of approximately 28.8%[12]. - The pre-tax loss for the year was $1,094,022, a substantial improvement from a pre-tax loss of $196,387,262 in the previous year[12]. - The company reported a profit of $5,726,311 for the year, contrasting with a loss of $153,170,419 in 2022[12]. - The total comprehensive loss for the year was $2,967,354, compared to a comprehensive loss of $212,800,388 in 2022[12]. - The basic earnings per share for 2023 were $0.038, a recovery from a loss per share of $1.005 in the previous year[12]. - The company reported a net profit attributable to shareholders of $5.73 million for the year ended December 31, 2023, compared to a net loss of $153.17 million in the previous year, marking a significant turnaround[61]. - Investment income increased by 28.75% to $19.12 million in 2023, up from $14.85 million in 2022, primarily due to a substantial rise in dividend income from investment projects[62]. Assets and Liabilities - Cash and cash equivalents decreased to $8,627,649 in 2023 from $25,489,216 in 2022, indicating a decline of approximately 66.1%[2]. - The net asset value per share as of December 31, 2023, was $3.663, down from $3.752 in 2022[2]. - The total liabilities decreased to $106,891,656 in 2023 from $117,628,328 in 2022, reflecting a reduction of about 9.5%[2]. - As of December 31, 2023, the company's total assets amounted to $692.06 million, a slight decrease from $715.62 million in 2022[54]. - The company's net asset value per share was $3.663 as of December 31, 2023, down from $3.752 in the previous year[61]. Investments - The company invested RMB 50 million (approximately $7.02 million) in Beijing Hanwei Chuangxin Electronics Technology Co., acquiring a 6.42% equity stake[35]. - The company signed a preferred share purchase agreement with Moonshot AI Ltd., investing $10 million for a 1.29% equity stake in the company, which focuses on developing general multimodal models and consumer applications[64]. - The company’s total investment value as of December 31, 2023, was $68.33 million, with allocations of $38.01 million in financial services, $4.21 million in cultural media and consumption, and $24.90 million in information technology[79]. - The company plans to focus on investment opportunities in digital finance, emerging technologies centered on artificial intelligence, and the cultural tourism and healthcare sectors[71]. Dividends - The proposed final dividend for the year is $0.07 per share, totaling $12.19 million, an increase from $10.66 million in the previous year[32]. - The company reported a dividend yield of 8 cents per share for the full year, up from 7 cents in 2022[32]. Compliance and Governance - The financial statements for the year ending December 31, 2023, have been audited by Deloitte, confirming the accuracy of the reported figures[85]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance by all directors[84]. - The company does not have a remuneration committee, as its executive directors and senior management do not receive any director's fees or remuneration from the company[83]. Economic Outlook - The company anticipates continued positive performance from its investments in China, supported by macroeconomic stability and structural adjustments[41]. - The central economic work conference in December 2023 outlined nine key tasks for China's economic development in 2024, focusing on high-quality growth and technological innovation[81]. - Emphasis on expanding domestic demand, stimulating potential consumption, and creating a virtuous cycle between consumption and investment[81]. - Continued support for artificial intelligence and new infrastructure construction, indicating significant investment potential in these areas[81]. - The company plans to deepen reforms in key areas and expand high-level opening-up to foster new trade dynamics[81]. - The focus on ecological civilization and green low-carbon development is part of the strategic outlook for the future[81]. - The company aims to effectively prevent and mitigate risks in key areas, including real estate and local debt[81]. Other Financial Information - The company has not adopted any new accounting standards that would significantly impact its financial statements in the foreseeable future[19]. - The company completed the exit from one listed investment project during the year[37]. - The company had no bank loans as of December 31, 2023, consistent with the previous year[66]. - The company has not purchased, sold, or redeemed any of its shares during the year[85]. - The company experienced a 1.70% depreciation of the Renminbi against the US dollar in 2023, impacting its holdings of Renminbi assets[67]. - The total administrative expenses for 2023 were $11,479,636, slightly decreased from $11,573,620 in 2022[12].
招商局中国基金(00133) - 2023 - 年度业绩