Financial Performance - For the year ended December 31, 2023, the company reported net interest income of RMB 139,378,944, an increase of 2.1% from RMB 135,597,605 in 2022[5]. - The net profit for the year was RMB 76,189,735, representing a growth of 5.2% from RMB 72,429,360 in 2022[5]. - Basic and diluted earnings per share increased to RMB 0.10 from RMB 0.09, marking a 11.1% increase year-over-year[5]. - The company reported a pre-tax profit of RMB 99,569,043 for 2023, compared to RMB 95,627,871 in 2022, showing a growth of 2.0%[9]. - The company reported a profit attributable to ordinary shareholders of RMB 64,814,928 for 2023, an increase from RMB 60,700,176 in 2022, resulting in basic earnings per share of RMB 0.10[119]. Asset and Liability Management - Total assets as of December 31, 2023, amounted to RMB 1,302,877,545, a decrease of 1.7% from RMB 1,325,953,714 in 2022[6]. - The company's cash and cash equivalents decreased to RMB 111,484,915 from RMB 143,268,846, a decline of 22.1%[6]. - Total liabilities significantly reduced to RMB 34,356,033 from RMB 86,635,537, a decrease of 60.3%[6]. - The company's total equity increased to RMB 1,268,521,512 from RMB 1,239,318,177, reflecting a growth of 2.4%[6]. - The total loans issued by the company increased to RMB 928,988,756 as of December 31, 2023, up from RMB 857,724,076 in 2022, representing an increase of approximately 8.8%[124]. Impairment and Credit Risk - The company experienced a significant increase in impairment losses on loans and receivables, totaling RMB 26,197,544, compared to RMB 7,848,513 in the previous year, reflecting a rise of 234.5%[5]. - The total impairment loss for loans and receivables was RMB 26,197,544 in 2023, compared to RMB 7,848,513 in 2022, indicating a significant rise in credit risk provisions[108]. - The company's total expected credit loss provisions rose to RMB 67,676,412 as of December 31, 2023, compared to RMB 58,722,398 in 2022, indicating an increase of approximately 15.5%[129]. - The group categorizes loans into five risk categories: Normal, Watch, Substandard, Doubtful, and Loss, to manage credit risk effectively[179]. - The maximum credit risk exposure, excluding any collateral or credit enhancements, was reported at 987,552,530 as of December 31, 2023, compared to 945,778,581 in 2022[200]. Cash Flow and Financing Activities - Operating cash flow for 2023 was RMB 67,607,784, a decrease of 68.7% from RMB 215,189,021 in 2022[9]. - The net cash flow from investing activities in 2023 was RMB (9,355,462), compared to RMB (1,583,158) in 2022, indicating a significant increase in cash outflow[11]. - The net cash flow from financing activities decreased to RMB (77,845,293) in 2023 from RMB (111,489,197) in 2022, reflecting a reduction in financing activities[11]. - The company reported a net cash inflow of RMB 260.715 million from the sale of subsidiaries, with cash consideration received amounting to RMB 261.387 million[159]. Dividend and Shareholder Information - The company declared dividends totaling RMB 34,000,000 for the year, consistent with the previous year[7]. - The company declared a cash dividend of RMB 34.0 million for the year ended December 31, 2022, and proposed a final dividend of approximately RMB 34.0 million for 2023[116]. - As of December 31, 2023, the company has issued and fully paid 680 million ordinary shares with a par value of RMB 1 each, unchanged from 2022[153]. Compliance and Reporting Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards for the current financial year, with no significant impact on the financial statements[25]. - The group has not yet adopted new standards that are issued but not yet effective, planning to apply them when they become applicable[26]. - The amendments to Hong Kong Financial Reporting Standard 16, effective from January 1, 2024, are not expected to have a significant impact on the group's financial statements[28]. Operational Insights - The company plans to continue focusing on loan issuance and improving asset quality in the upcoming year[3]. - The group’s primary revenue source remains from small loan operations, with most income generated from external customers located in Quanzhou, Fujian Province, China[101]. - The company maintained a strict control over outstanding loans to reduce credit risk, with regular reviews of overdue balances conducted by management[124]. Employee and Remuneration Information - Total remuneration for directors and supervisors amounted to RMB 3,370,563, with executive directors receiving RMB 2,745,750 in salaries and allowances[110]. - The number of highest-paid non-director and non-supervisor employees remained at 2 for both 2023 and 2022, with total remuneration of RMB 965,988 in 2023[113]. Miscellaneous Financial Information - The company recognized a government grant of RMB 3,027,697 in 2023, compared to RMB 2,953,695 in 2022, reflecting a modest increase[108]. - The income tax expense for 2023 was RMB 23,379,308, slightly higher than RMB 23,198,511 in 2022[115]. - The company incurred lease cash outflows of RMB 1.208 million in financing activities for 2023, compared to RMB 879.415 million in 2022[163].
汇鑫小贷(01577) - 2023 - 年度业绩