Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 128.1 million, an increase of 33.3% or RMB 32.0 million compared to RMB 96.1 million for the year ended December 31, 2022[6]. - The group reported a loss of RMB 7.3 million for the year, an improvement from a loss of RMB 17.1 million in the previous year[6]. - Online business revenue reached RMB 126.5 million, up 33.2% year-over-year, with online retail sales contributing RMB 117.1 million, a 37.0% increase[6]. - Offline business revenue grew to RMB 1.6 million, a 45.5% increase, despite a decline in wholesale to offline retailers[6]. - The gross profit for the year was RMB 67.5 million, compared to RMB 51.9 million in the previous year, reflecting a gross margin improvement[7]. - For the year ended December 31, 2023, the group reported a net loss of approximately RMB 7,256,000, with cash used in operating activities amounting to approximately RMB 2,407,000[21]. - The group's revenue increased to approximately RMB 128,109,000 for the year ended December 31, 2023, a reduction in net loss compared to the previous year[21]. - Loss before tax improved to RMB 5,553 thousand in 2023 from RMB 17,343 thousand in 2022, indicating a reduction of approximately 68%[52]. - Basic loss per share decreased to RMB 8,249 thousand in 2023 from RMB 16,296 thousand in 2022, showing an improvement of about 49%[55]. - Other income totaled RMB 3,054 thousand in 2023, an increase from RMB 2,646 thousand in 2022, reflecting a growth of approximately 15.4%[48]. Cash Flow and Liquidity - The company’s cash and bank balances decreased to RMB 7.4 million from RMB 9.7 million in the previous year[12]. - The company reported a decrease in cash deposits in banks in China to RMB 2,394,000 in 2023 from RMB 4,995,000 in 2022, affecting overall cash flow[62]. - Cash and cash equivalents decreased to RMB 7,445,000 in 2023 from RMB 9,659,000 in 2022, reflecting a reduction in liquidity[62]. - The board believes that the group will have sufficient cash resources to meet its operational funding and financial obligations for the next eighteen months[23]. - The group has not received any repayment demands from banks, indicating strong support from financial institutions[22]. Assets and Liabilities - The company’s total assets less current liabilities stood at RMB 5.4 million, down from RMB 7.1 million in the previous year[12]. - As of December 31, 2023, the group had current liabilities of approximately RMB 18,133,000, including RMB 11,781,000 in revolving bank loans[22]. - The company identified RMB 11,781,000 in unsecured bank loans classified as current liabilities due to maturity in the first half of 2024, but will be reclassified as non-current liabilities under new accounting standards[35]. - Loans from a shareholder amounting to RMB 8,270,000 will be classified as current liabilities starting from December 31, 2023, due to the inability to defer repayment for at least twelve months[36]. - Total borrowings decreased to RMB 18,133,000 in 2023 from RMB 20,963,000 in 2022, indicating a reduction in debt levels[64]. Revenue Breakdown - Revenue from external customers in mainland China increased to RMB 128,109 thousand in 2023, up from RMB 96,070 thousand in 2022, representing a growth of approximately 33.4%[45]. - Online retail sales increased to RMB 117,084 thousand in 2023, up from RMB 85,487 thousand in 2022, representing a growth of 37%[41]. - Revenue from travel and accessories increased significantly from RMB 20.3 million to RMB 49.1 million, representing a growth of 141.9%[82]. - Women's handbag revenue grew by 4.2% to RMB 79.0 million, compared to RMB 75.8 million in 2022[83]. - Wholesale revenue to offline retailers decreased by 74.3%, while online retail sales increased by approximately 37.0%, contributing RMB 31.6 million to total revenue[92]. Expenses and Cost Management - Sales and distribution costs increased by approximately RMB 7.0 million or 13.3% to about RMB 59.6 million, primarily due to increased marketing expenses and delivery costs[97]. - Administrative and other operating expenses decreased by approximately RMB 3.8 million or 21.8% to about RMB 13.6 million, mainly due to reduced foreign exchange losses[99]. - The company recorded a decrease in accrued expenses to RMB 4,585,000 in 2023 from RMB 5,559,000 in 2022, suggesting improved expense management[63]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and has complied with the applicable code provisions during the year[115]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023[121]. - The independent auditor confirmed that the preliminary announced figures for the year ending December 31, 2023, align with the audited financial statements[122]. Future Outlook - The company anticipates improved consumer spending in 2024 due to government stimulus measures and a more stable economy[106]. - The company is focusing on providing better value propositions and streamlining its supply chain to enhance customer service and product offerings[108]. Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2023[6]. - The company did not declare or pay any dividends to its equity holders for the year ended December 31, 2023, consistent with 2022[53]. - The annual general meeting is scheduled for June 20, 2024, with the shareholder register closing from June 17 to June 20, 2024[113][114].
森浩集团(08285) - 2023 - 年度业绩