Financial Performance - Revenue for the year 2023 reached RMB 1,598 million, a significant increase from RMB 1,177 million in 2022, representing a growth of approximately 36%[7] - Net profit for 2023 was RMB 169 million, down from RMB 328 million in 2022, indicating a decline of about 48.5%[14] - Earnings per share (EPS) for 2023 was RMB 0.3932, compared to RMB 0.7590 in 2022, reflecting a decrease of approximately 48.2%[14] - The company reported a total comprehensive income of RMB 176 million for 2023, compared to RMB 327 million in 2022, a decrease of approximately 46%[14] - The total revenue for the main business in 2023 reached $1.51 billion, up from $1.13 billion in 2022, reflecting a year-over-year growth of approximately 33.9%[28] - The company reported a total comprehensive income of $176.77 million for 2023, contributing to an ending equity balance of $1.07 billion[17] - The net profit attributable to the parent company's shareholders for the current year is RMB 168,903,408.36, a decrease from RMB 328,032,623.65 in the previous year, representing a decline of approximately 48.6%[35] - Basic earnings per share for the current year is RMB 0.3932, down from RMB 0.7590 in the previous year, indicating a decrease of about 48.2%[35] Assets and Liabilities - Total assets decreased to RMB 1,855 million in 2023 from RMB 1,986 million in 2022, a reduction of about 6.6%[11] - Current liabilities decreased to RMB 587 million in 2023 from RMB 695 million in 2022, a decline of approximately 15.5%[11] - The total liabilities decreased to RMB 780 million in 2023 from RMB 914 million in 2022, a reduction of about 14.7%[11] - The total liabilities decreased from $172.84 million at the beginning of the year to $163.90 million at the end of 2023, showing a reduction of approximately 5.5%[24] - The company has no significant contingent liabilities as of December 31, 2023[41] - The company has pledged assets valued at approximately RMB 264,000,000 as collateral for certain bank loans[42] Cash Flow and Investments - The net cash flow from operating activities for 2023 was $163.61 million, a significant increase from $71.35 million in 2022, representing a growth of approximately 129.0%[15] - The net cash flow from investing activities was $173.01 million in 2023, compared to a negative cash flow of $29.84 million in 2022, indicating a turnaround in investment strategy[15] - The cash and cash equivalents at the end of 2023 amounted to $610.73 million, an increase from $489.55 million at the beginning of the year, marking a growth of approximately 24.7%[15] - The company’s restricted cash decreased to $8.79 million in 2023 from $35.93 million in 2022, indicating improved liquidity management[15] - The total cash inflow for the year was RMB 121 million, with total monetary funds at the end of the period amounting to RMB 620 million[69] Research and Development - Research and development expenses for 2023 were RMB 172 million, down from RMB 187 million in 2022, showing a decrease of about 7.7%[14] - Research and development investment accounted for 11% of the current operating revenue in 2023[57] Market and Business Strategy - The company plans to focus on market expansion and new product development in the upcoming year, aiming to enhance revenue streams[14] - The company plans to expand its market presence and invest in new product development to drive future growth[28] - The automotive industry experienced a record production and sales volume of 30.16 million and 30.09 million vehicles respectively, both up by 12% year-on-year, positively impacting the company's performance[47] - The overseas business generated revenue of RMB 718.57 million, representing a year-on-year growth of approximately 68%[48] - The software business achieved revenue of RMB 126.79 million, a year-on-year increase of about 50%[48] - The number of active end users reached over 1.55 million, a growth of approximately 23% compared to the end of 2022[51] - The number of paid software customers increased by 106% year-on-year, while paid upgrade customers grew by 72%[52] - The company established partnerships with four vehicle manufacturers, delivering over 120 vehicles throughout the year[56] Dividends - The company declared a final dividend of RMB 0.24 per share for 2023, consistent with the previous year[7] - The company declared a mid-term dividend of $146.95 million in 2023, reflecting a commitment to returning value to shareholders[17] - The company plans to distribute a final dividend of RMB 0.24 per share[37] Corporate Governance - The audit committee has reviewed and confirmed the audited financial report for the year 2023[74] - The company adhered to the Corporate Governance Code as per the Hong Kong Stock Exchange rules during the reporting period[75] Subsidiaries and Ownership - The company added 10 subsidiaries through acquisitions and investments while reducing 1 subsidiary during the reporting period[73] - The company has fully owned subsidiaries engaged in software development and automotive diagnostic product sales, contributing to its diverse business operations[38] - The total number of shares decreased by 16,428,500 to 415,788,100 during the reporting period[77] - The company did not grant any stock options under the stock option plan during the reporting period[78] Future Commitments - The company has future lease commitments totaling RMB 17,556,509.58 for the current year, compared to RMB 15,866,458.96 in the previous year[44] - The company has no significant capital commitments that have not been disclosed as of December 31, 2023[43] Leverage and Capital Structure - The leverage ratio improved to 0.73 from 0.85 in 2022, indicating a better capital structure[70]
元征科技(02488) - 2023 - 年度业绩