Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,173,991 thousand, a decrease of 16.8% from RMB 1,410,889 thousand in 2022[2] - Gross profit for the year was RMB 37,641 thousand, significantly down from RMB 384,122 thousand in the previous year[2] - The company reported a net loss of RMB 85,444 thousand for the year, compared to a profit of RMB 199,919 thousand in 2022[2] - Basic and diluted loss per share for the year was RMB (0.103), compared to earnings of RMB 0.242 in the previous year[2] - Total revenue for the fiscal year 2023 was RMB 1,174.0 million, a decrease of 16.8% compared to RMB 1,410.9 million in fiscal year 2022[68] - The loss attributable to the company's owners was RMB 85.3 million, a decrease of RMB 284.5 million or 142.8% compared to a profit of RMB 199.2 million in fiscal year 2022[77] - The company incurred a loss of RMB 85.4 million in fiscal year 2023, with a net loss margin of 7.3%, a decline of 142.7% compared to a profit of RMB 199.9 million and a net profit margin of 14.1% in fiscal year 2022[167] Revenue Breakdown - Revenue from the China segment was RMB 595,174 thousand, a slight increase from RMB 582,922 thousand in 2022[18] - Revenue from the European segment decreased to RMB 291,632 thousand from RMB 470,733 thousand in the previous year, reflecting a decline of 38.0%[18] - Revenue from the China segment was RMB 423,478 thousand in 2023, down from RMB 448,184 thousand in 2022, reflecting a decline of approximately 5.5%[43] - In fiscal year 2023, sales value from the Chinese market accounted for approximately 50.7%, while overseas market sales value accounted for 49.3%, compared to 41.3% and 58.7% in fiscal year 2022[69] - Sales value in the Chinese market was RMB 595.2 million, an increase of RMB 12.3 million or 2.1%, while overseas market sales value decreased by RMB 249.2 million or 30.1% to RMB 578.8 million[69] Inventory and Provisions - The company recognized an inventory provision of RMB 142.4 million to adjust inventory to its net realizable value as of December 31, 2023[9] - The company recognized a provision for inventory write-down amounting to RMB 142,424 thousand in 2023, compared to no provision in 2022[46] - The gross profit margin decreased by 24.0 percentage points to 3.2% due to higher sales costs of carrageenan products, including a provision of RMB 142.4 million for inventory[97] - The group recorded a significant impact of RMB 142.4 million in inventory provisions for carrageenan products based on current market price estimates[102] - Inventory as of December 31, 2023, was RMB 784.998 million, down from RMB 906.209 million in the previous year[169] Assets and Liabilities - Total equity as of December 31, 2023, was RMB 754,112 thousand, down from RMB 852,210 thousand in 2022[4] - The total amount of trade payables decreased to RMB 103,713 thousand in 2023 from RMB 137,763 thousand in 2022, a reduction of approximately 24.7%[65] - The total liabilities of the company as of December 31, 2023, were RMB 789.5 million, compared to RMB 838.8 million in the previous year[164] - Total assets decreased to RMB 1,543.6 million as of December 31, 2023, from RMB 1,691.0 million in the previous year[169] Operational Insights - The company plans to continue focusing on operational cash flow and bank borrowings to meet its working capital needs[9] - The company plans to expand the capacity of PT Hongxin to leverage cost advantages and potential tax benefits in the foreseeable future[72] - The company maintains a focus on product innovation and technical expertise to enhance performance and investment returns despite global economic uncertainties[70] - The group plans to continue investing in capacity expansion at PT Hongxin in 2024 as part of its strategy to enhance cost competitiveness[116] Employee and Governance - Employee benefit expenses increased to RMB 117,866 thousand in 2023 from RMB 110,117 thousand in 2022, reflecting a rise of approximately 7.9%[46] - The group had a total employee cost of RMB 117.9 million in fiscal year 2023, compared to RMB 110.1 million in fiscal year 2022[119] - The company has maintained a good working relationship with employees and offers competitive compensation aligned with market standards[138] - The board of directors has complied with all provisions of the corporate governance code for fiscal year 2023, with one exception regarding the separation of roles of chairman and CEO[125][126] Taxation - The company’s subsidiary in Indonesia is subject to a corporate tax rate of 22%, consistent with the previous year[49] - The company plans to maintain a tax rate of 25% for its subsidiaries in China, consistent with the previous year[194] - The income tax expense for 2023 was RMB (27,447) thousand, a decrease from RMB 61,670 thousand in 2022, marking a reduction of approximately 144.5%[196] Shareholder Information - The company declared a final dividend of 3 HK cents per share in 2023, up from 2.5 HK cents per share in 2022, totaling RMB 22,433 thousand[56] - The company did not recommend any final dividend for fiscal year 2023, compared to a dividend of HKD 0.03 per share in fiscal year 2022[167] - In the fiscal year 2023, the company adopted a share incentive plan, purchasing 544,000 shares at a total cost of approximately HKD 482,000[122] - A total of 860,000 shares were vested under the share incentive plan in fiscal year 2023[122]
绿新亲水胶体(01084) - 2023 - 年度业绩