Financial Performance - The revenue for the year ended December 31, 2022, was RMB 28,654.7 million, representing a growth of 21.5% compared to the same period in 2021[2]. - Gross profit amounted to RMB 2,517.5 million, with a gross profit margin of 8.8%[2]. - Net profit for the year was RMB 555.9 million, down from RMB 1,213.3 million in 2021[5]. - The basic earnings per share for 2022 was RMB 40.93, compared to RMB 93.62 in 2021[5]. - The total revenue for 2022 reached RMB 28,654,734 thousand, a 21.8% increase from RMB 23,576,689 thousand in 2021[17]. - Passenger car sales contributed RMB 25,297,011 thousand to total revenue, up from RMB 20,829,418 thousand in the previous year, representing a 21.8% growth[17]. - After-sales service revenue increased to RMB 3,357,723 thousand, compared to RMB 2,747,271 thousand in 2021, marking a 22.1% rise[17]. - The pre-tax profit for the year ended December 31, 2022, was RMB 863,540,000, a decrease of 46.5% compared to RMB 1,612,763,000 in 2021[27]. - Net profit fell by approximately 54.2% to about RMB 555.9 million, with a profit margin decrease of 3.2 percentage points to approximately 1.9%[78]. Dividends - The total dividend for the year was RMB 0.1978 per share, with a payout ratio of 50%[2]. - The company proposed a final dividend of RMB 0.1170 per share for the year[2]. - The company declared an interim dividend of RMB 0.0808 per share for the year 2022, down from RMB 0.1293 per share in 2021, totaling RMB 103,055,000 compared to RMB 160,986,000 in the previous year[54]. - The proposed final dividend for 2022 is RMB 0.1170 per share, amounting to RMB 157,422,000, significantly lower than RMB 888,114,000 for the previous year's final dividend of RMB 0.6991 per share[54]. Assets and Liabilities - Non-current assets increased to RMB 8,350.9 million from RMB 4,239.6 million in 2021[6]. - Cash and cash equivalents decreased to RMB 1,635.6 million from RMB 2,621.7 million in 2021[6]. - The total current assets were approximately RMB 5,888.5 million, compared to RMB 5,563.1 million in 2021, while current liabilities increased to approximately RMB 4,873.7 million from RMB 4,089.5 million[84]. - The asset-liability ratio was approximately 131.9% as of December 31, 2022, compared to 65.4% in 2021[84]. Cash Flow - The company incurred a net cash outflow from investing activities of RMB 3,483.5 million, compared to RMB 1,382.1 million in 2021[8]. - The net cash from financing activities was RMB 1,327,784 thousand, compared to a cash outflow of RMB 317,494 thousand in 2021[9]. - Cash and cash equivalents decreased by RMB 1,001,855 thousand, down from an increase of RMB 112,369 thousand in the previous year[9]. - The company declared and paid dividends to equity shareholders amounting to RMB 994,706 thousand, significantly higher than RMB 460,916 thousand in 2021[9]. Acquisitions - The company completed the acquisition of StarChase Automotive Group for a total consideration of RMB 3,700,000,000 on April 29, 2022, aiming to expand its high-end dealership network[64]. - The acquisition contributed revenues of RMB 4,895,395,000 and profits of RMB 208,610,000 for the year ended December 31, 2022[66]. - The company acquired the East China Automotive Sales Group for a cash consideration of RMB 3,700,000,000, expanding its operations in the automotive dealership sector across seven cities in China[93]. Operational Efficiency - The company has identified only one operating segment, which is the sale of passenger cars and provision of after-sales services[18]. - The group maintained healthy operational indicators, including inventory turnover days, and the balance sheet and cash flow remained stable[71]. - The company expects the total sales of new energy vehicles in China to reach 9 million units in 2023, a year-on-year growth of 35.0%[89]. - The company plans to continue enhancing operational efficiency and exploring opportunities in the new energy vehicle market[89]. Employee Costs - Employee costs rose to RMB 1,009,483,000 in 2022, up from RMB 908,549,000 in 2021, marking an increase of 11.1%[22]. Financial Reporting and Governance - The company's financial results for the year ended December 31, 2022, have been approved by KPMG, the auditor[103]. - The company established an audit committee to review and supervise financial reporting, risk management, and internal controls, consisting of three independent non-executive directors[102]. - The board proposed amendments to the company's existing Articles of Association to align with core shareholder protection standards and comply with applicable laws in the Cayman Islands[111]. Shareholder Information - The company will suspend share transfer registration from May 11 to May 16, 2023, to determine eligible shareholders for the annual general meeting[106]. - The company’s annual general meeting is scheduled for May 16, 2023, with details to be announced in April 2023[104]. - The company’s major shareholder's stake will decrease from approximately 52.22% to 49.98% if the convertible bonds are fully converted[91].
美东汽车(01268) - 2022 - 年度业绩