Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,221.8 million, representing a 28.4% increase from RMB 951.5 million in 2022 [23]. - The company achieved a gross profit of RMB 481.6 million, with a gross margin of 39.4%, slightly up from 39.3% in the previous year [30]. - The net profit attributable to equity holders of the parent company was RMB 213,628,000, a significant recovery from a loss of RMB 732,034,000 in the previous year [76]. - The pre-tax profit for the year was RMB 285,498,000, compared to a loss of RMB 689,929,000 in the previous year, marking a turnaround [102]. - Adjusted net profit for the year ended December 31, 2023, was RMB 227.4 million, representing a 60.4% increase compared to RMB 141.8 million for the previous year [198]. - The total comprehensive income for the year ended December 31, 2023, was RMB 213.6 million, recovering from a loss of RMB 732.0 million in the previous year [183]. Revenue Growth - Short drama-related revenue surged to RMB 32.2 million, a remarkable increase of 1,241.7% compared to RMB 2.4 million in 2022 [23]. - The company’s short drama business contributed RMB 3,223 million in revenue, reflecting a year-on-year growth of over 1,200% [16]. - The revenue from mainland China for 2023 was RMB 1,182,938 thousand, up from RMB 930,941 thousand in 2022, indicating a growth of about 27% [65]. - The annual signing amount for artist business collaborations exceeded RMB 40 million, with revenue from this segment increasing more than 2.5 times year-on-year [39]. - The company's revenue for the year ended December 31, 2023, increased by 28.4% to RMB 1,221.8 million from RMB 951.5 million for the year ended December 31, 2022 [187]. Expenses and Cost Management - Administrative expenses decreased by 26.6% to RMB 206.2 million from RMB 280.9 million in 2022, primarily due to reduced listing costs and lower share-based payment expenses [7]. - Other income decreased by 13.3% to RMB 121.7 million, mainly due to reduced foreign exchange gains, despite increases in interest income and government subsidies [27]. - The total amount of raw materials increased to RMB 218,985,000 in 2023 from RMB 120,700,000 in 2022, reflecting higher production costs [150]. - The company’s administrative expenses included amortization of other intangible assets, impacting overall profitability [122]. Cash Flow and Investments - Cash generated from operating activities for the year ended December 31, 2023, was RMB 353.9 million, a significant increase of 277.8% from a cash outflow of RMB 199.0 million in the previous year [190]. - The net cash outflow from investment activities for the year ended December 31, 2023, was RMB 296.9 million, compared to RMB 284.9 million in 2022, showing a stable trend [43]. - The company utilized idle funds to subscribe to wealth management products to enhance capital yield during the reporting period [45]. Assets and Liabilities - The company’s non-current assets totaled RMB 302,197 thousand as of December 31, 2023, compared to RMB 273,748 thousand in 2022, reflecting an increase of approximately 10.4% [59]. - Trade receivables increased to RMB 600,876,000 in 2023 from RMB 377,404,000 in 2022, reflecting a growth of 59% [133]. - Trade payables rose to RMB 57,315,000 in 2023 from RMB 40,357,000 in 2022, marking an increase of 42% [138]. - Contract liabilities decreased to RMB 692,633,000 in 2023 from RMB 695,140,000 in 2022, primarily due to the recognition of several other advances as income in 2023 [143]. Shareholder Information - The company plans to propose a final dividend subject to shareholder approval at the upcoming annual general meeting [128]. - The company proposed a final dividend of RMB 0.218 per ordinary share for 2023, compared to no dividend in 2022 [147]. - The company plans to hold its annual general meeting on June 20, 2024 [50]. Strategic Developments - The company expanded its overseas business platform, "Lingmeng International," and localized content production, achieving significant project breakthroughs in the film sector [13]. - The company actively developed strategic brand resources, enhancing its service system to provide comprehensive marketing services [186]. - The company successfully produced and aired three high-quality licensed dramas during the year, achieving record quality levels [181].
柠萌影视(09857) - 2023 - 年度业绩