Financial Performance - The group's revenue for the year ended December 31, 2023, decreased by approximately 0.6% to about RMB 172,394,000 compared to RMB 173,367,000 in 2022[3] - Gross profit for the same period decreased by approximately 26.1% to about RMB 66,977,000, down from RMB 90,625,000 in 2022[3] - Profit after tax for the year was approximately RMB 23,212,000, representing a decrease of about 48.3% from RMB 44,892,000 in 2022[3] - Basic earnings per share decreased by approximately 48.3% to about RMB 0.045, down from RMB 0.087 in 2022[3] - The company reported a profit before tax of RMB 25,482 thousand, an increase from RMB 23,511 thousand in 2022[35] - The income tax expense for 2023 was RMB 4,141,000, a decrease of 56.5% compared to RMB 9,542,000 in 2022[36] - The company reported a net profit of RMB 23,212,000 for 2023, down 48.3% from RMB 44,892,000 in 2022[41] - Net profit after tax decreased by approximately 48.3% from about RMB 44.9 million to about RMB 23.2 million, with the net profit margin dropping from 25.9% to 13.5%[74] - The company reported a net profit margin of 12% for the fiscal year, indicating strong operational efficiency[142] Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.0179 per share for the year, down from RMB 0.0346 per share in 2022, subject to shareholder approval[3] - The company declared a final dividend of RMB 17,949,000 for 2023, an increase of 36.2% from RMB 13,141,000 in 2022[40] Revenue Breakdown - Revenue from chip sales increased to RMB 147,394 thousand in 2023, up 3.6% from RMB 142,246 thousand in 2022[29] - Revenue from integrated circuits and other printer consumables decreased to RMB 21,274 thousand, down 31.6% from RMB 31,121 thousand in 2022[29] - Revenue from chip technology and design services was RMB 3,726 thousand, a new addition in 2023[29] - External revenue from customers in China was RMB 153,472 thousand, a decrease of 1.0% from RMB 155,012 thousand in 2022[30] - Revenue from compatible printer consumable chips increased by approximately 0.4% to about RMB 142.8 million, driven by the introduction of 756 new inkjet printer chip models[59] Expenses and Costs - Research and development expenses for the year were RMB 16,282,000, compared to RMB 18,254,000 in 2022, indicating a decrease in R&D investment[5] - R&D expenses (excluding employee costs) were RMB 7,661 thousand, down 20.5% from RMB 9,634 thousand in 2022[35] - Sales and service costs increased from approximately RMB 82.7 million to about RMB 105.4 million, mainly due to rising direct material costs[63] - Administrative expenses rose by approximately 13.9% from about RMB 22.2 million to about RMB 25.3 million, mainly due to increased costs related to material wastage[72] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 371,335,000, compared to RMB 365,470,000 in 2022[7] - Current liabilities decreased to RMB 18,874,000 from RMB 38,802,000 in 2022, reflecting improved liquidity management[7] - The company's cash and cash equivalents decreased to RMB 183,826,000 from RMB 277,131,000 in 2022, indicating a reduction in cash reserves[7] - Trade receivables decreased to RMB 58,433 thousand in 2023, down 22.3% from RMB 75,233 thousand in 2022[33] - Trade payables decreased to RMB 6,187,000 in 2023 from RMB 11,713,000 in 2022, a reduction of 47.2%[46] Financial Reporting Standards - The Group adopted revised Hong Kong Financial Reporting Standards, effective for the current accounting period, including HKFRS 17 on insurance contracts[9] - HKFRS 17, effective from January 1, 2023, introduces a consistent accounting method for insurance contracts, but has no significant impact on the Group's financial statements as it does not fall within its scope[10] - The amendments to HKAS 1 and HKFRS Practice Statement 2 enhance the disclosure of significant accounting policies, but do not affect the measurement or presentation of any items in the Group's consolidated financial statements[12] - The revision of HKAS 8 clarifies the definition of accounting estimates, with no significant impact on the Group's consolidated financial statements as the Group's methods are consistent with the amendments[14] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules Appendix C1, effective from December 31, 2023, to enhance internal control systems and ensure high corporate governance standards[128] - The audit committee, established on February 26, 2021, consists of three independent non-executive directors, ensuring compliance with the relevant listing rules[130] - The company's auditor, Hong Kong Lixin Dehao CPA Limited, has agreed to the consolidated financial statements, confirming that they comply with applicable accounting standards[132] Future Outlook and Strategy - The group anticipates a GDP growth target of about 5% for China in 2024, amidst a challenging global economic environment[104] - The company plans to launch more new compatible ink cartridge chips in 2024 to enhance its Internet of Things chip business[104] - The company aims to strengthen its market development strategy by establishing sales channels in target regions such as Shenzhen, Shanghai, and Taiwan[54] - The company is actively seeking suitable acquisition opportunities to complement its business strategy, particularly in the semiconductor sector[125] Employee and Shareholder Information - The group has approximately 154 full-time employees as of December 31, 2023, with 134 based in China and 20 in Taiwan, Hong Kong, and overseas[103] - The company maintains a public float in compliance with listing rules since its listing on March 31, 2021[118] - Major shareholders include Mr. Zheng and Mr. Yu, each controlling significant stakes of 29.27% and 18.80% respectively[113]
美佳音控股(06939) - 2023 - 年度业绩