Revenue Performance - Revenue from the funeral services segment for the year was approximately RMB 72,570,000, a decrease of about 6.9% compared to RMB 77,969,000 in the previous year[12]. - In China, revenue from funeral services was approximately RMB 65,838,000, representing a year-on-year decrease of about 11.6% from RMB 74,468,000 due to a high base effect from the previous year[7]. - Taiwan's business rebounded strongly, recording revenue of approximately RMB 2,014,000, an increase of about 31.5% from RMB 1,531,000 in the previous year[9]. - Hong Kong's revenue was approximately RMB 4,158,000, up from RMB 1,278,000 in the previous year, with significant contributions from stem cell and immune cell services[9]. - For the year ended December 31, 2023, the total revenue was RMB 72,570,000, a decrease of 6.1% compared to RMB 77,969,000 in 2022[69]. - Revenue from funeral services, including cremation services, was RMB 65,838 thousand for the year ended December 31, 2023, while the previous year reported RMB 74,468 thousand, reflecting a decline of about 12%[95][97]. - Revenue from stem cell and immune cell consulting services was impacted by COVID-19, with no customer orders received since May 2022[123]. - Revenue from funeral services in Hong Kong was approximately RMB 1,089,000, a decrease of about 14.8% compared to approximately RMB 1,278,000 in the previous year[125]. Profitability and Loss - The gross profit for the year was approximately RMB 33,481,000, a decrease of 15.9% from RMB 39,800,000 in the previous year, primarily due to reduced demand for funeral services in China[15]. - The net loss for the year was RMB 10,086,000, compared to a profit of RMB 626,000 in 2022, indicating a significant decline in profitability[69]. - The company recorded a net loss attributable to shareholders of approximately RMB 7,173,000 for the current year, compared to a loss of approximately RMB 847,000 in the previous year[138]. - The total comprehensive loss before tax for 2023 was RMB 7,943,000, a decline from a profit of RMB 7,888,000 in 2022[98]. - The fair value loss on financial assets measured at fair value through profit or loss was RMB 4,226,000, compared to a gain of RMB 690,000 in 2022[69]. Financial Position - As of December 31, 2023, the group maintained a solid financial position with cash and cash equivalents of approximately RMB 125,019,000, up from RMB 121,811,000 in the previous year[20]. - The total assets decreased to RMB 213,088,000 from RMB 221,077,000, reflecting a decline of 3.6%[76]. - The company's equity attributable to owners increased to RMB 123,718,000 from RMB 113,218,000, representing an increase of 9.3%[79]. - The cash and cash equivalents rose to RMB 125,019,000, up from RMB 112,477,000, indicating a growth of 11.1%[76]. - The debt-to-asset ratio was approximately 60.06% as of December 31, 2023, compared to 54.07% in 2022[148]. - The company’s net asset value decreased from RMB 130,817 million to RMB 108,533 million, a reduction of approximately 17%[80]. - The company’s bank borrowings decreased from RMB 3,590 million to RMB 2,484 million, a decline of about 31%[80]. Expenses and Costs - Administrative expenses increased by approximately 28.3% to about RMB 41,044,000, accounting for 56.6% of revenue, compared to 41.0% in the previous year[17]. - The financing costs for the year were RMB 6,262,000, compared to RMB 9,749,000 in the previous year, showing a decrease of 35.4%[69]. - Sales expenses increased by approximately 9.3% to about RMB 2,122,000 due to increased marketing activities[136]. - The interest expense on lease liabilities decreased to RMB 1,518,000 in 2023 from RMB 1,769,000 in 2022[98]. - The total income tax expense for 2023 was RMB 2,143,000, down from RMB 7,262,000 in 2022[101]. Investment and Capital Expenditures - The group invested approximately RMB 14,532,000 in various equity and debt securities and exchange-traded funds as of December 31, 2023, down from RMB 26,006,000 in the previous year[24]. - The company made capital expenditures of approximately RMB 443,000 for properties, plants, and equipment during the year, down from RMB 2,474,000 in the previous year[46]. - The company has invested RMB 2,460,000 in an associate company and RMB 225,000 in intangible assets in 2023, while the investment in a joint venture was RMB 6,500,000 in 2022[47]. - The group acquired investments totaling approximately RMB 197,866,000, including RMB 197,865,000 in equity securities or ETFs listed outside Hong Kong[144]. - The group sold investments totaling approximately RMB 205,212,000, including a reduction of RMB 200,637,000 in equity securities or ETFs listed outside Hong Kong[144]. Strategic Focus and Future Outlook - The company is focusing on the biotechnology sector, which is expected to grow due to increasing healthcare spending and public health awareness, positioning itself as a comprehensive investment platform in this field[50]. - The company plans to allocate more resources to support the development of its biotechnology business to expand revenue sources and improve operational performance[52]. - The company is actively seeking investment opportunities that align with its long-term business strategy while also aiming for capital appreciation[28]. - The global economic outlook suggests a soft landing, which may stabilize exports and reduce pressure on the RMB exchange rate, benefiting the company's financial position[49]. - The group aims to enhance its financial management value and increase shareholder returns through a balanced investment strategy[145]. Corporate Governance and Compliance - The company is committed to improving corporate governance practices to adapt to its business development needs[55]. - The company has adopted a corporate governance code based on GEM Listing Rules, emphasizing high-quality board and transparency to shareholders[170]. - The company has adhered to relevant laws and regulations without any significant violations during the year[171]. - The auditors confirmed that the financial statements for the year ending December 31, 2023, are consistent with the preliminary announcement[173]. Employee and Operational Metrics - The group employs 202 employees as of December 31, 2023, down from 218 in 2022[155]. - The company did not declare or propose any dividends for the years ended 2023 and 2022[113]. - The 2024 Annual General Meeting is scheduled for June 21, 2024[162].
中国生命集团(08296) - 2023 - 年度业绩