Financial Performance - For the year ended December 31, 2023, CMON Limited reported total revenue of $45,051,708, a decrease of 0.63% from $45,337,007 in 2022[4] - The cost of sales decreased significantly to $21,436,424, down 20.5% from $26,920,837 in the previous year, resulting in a gross profit of $23,615,284, an increase of 28.5% from $18,416,170[4] - Operating profit for the year was $1,831,106, representing a 36% increase compared to $1,345,897 in 2022[4] - Net profit for the year was $755,948, up 48% from $510,101 in the previous year[4] - Basic and diluted earnings per share increased to $0.0004 from $0.0003, reflecting a growth of 33.33%[6] - The group’s net profit for 2023 was $755,948, compared to $579,571 in 2022, indicating a year-over-year growth of 30.5%[29] Revenue Breakdown - Revenue from North and South America was $22,828,405, accounting for 50.7% of total revenue, while revenue from Europe was $15,067,638, representing 33.4%[17] - Revenue for the year ended December 31, 2023, decreased by approximately 0.6% to about $45.1 million from approximately $45.3 million for the year ended December 31, 2022, primarily due to a decline in recognized wholesale sales[49] - Revenue from wholesale sales decreased from approximately $19.8 million for the year ended December 31, 2022, to approximately $18.6 million for the year ended December 31, 2023, a decline of about 0.6%[49] - Revenue from Kickstarter increased from approximately $25.1 million for the year ended December 31, 2022, to approximately $26.4 million for the year ended December 31, 2023, driven by higher sales from six Kickstarter projects in 2023 compared to five in 2022[49] Assets and Liabilities - Total assets as of December 31, 2023, were $28,776,392, a slight decrease from $29,892,015 in 2022[8] - The company reported a net asset value of $19,360,817, up from $18,615,425 in the previous year, indicating a growth of 4%[9] - The company’s total bank borrowings decreased from approximately $7.3 million as of December 31, 2022, to about $5.8 million as of December 31, 2023[64] - The company's debt-to-asset ratio as of December 31, 2023, was approximately 48.1%, a decrease from 50.6% in 2022, reflecting improved financial stability[76] Expenses - Total sales and distribution expenses increased from approximately $7.8 million for the year ended December 31, 2022, to approximately $9.6 million for the year ended December 31, 2023[57] - General and administrative expenses rose from approximately $9.3 million for the year ended December 31, 2022, to approximately $12.2 million for the year ended December 31, 2023, primarily due to increased game development expenses[58] - Financing costs increased from $342,911 for the year ended December 31, 2022, to $468,624 for the year ended December 31, 2023, mainly due to rising short-term borrowing rates[59] Cash Flow and Investments - As of December 31, 2023, the bank and cash balance reached $168,082, an increase from $145,596 in 2022[37] - The company has no major investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures for the fiscal year ending December 31, 2023[70] - The company plans to expand its game portfolio through acquisitions or licensing agreements to increase market share, primarily funded by internal resources and external borrowings[75] Future Plans - The company plans to continue focusing on the design and development of board games and other leisure products, with an emphasis on expanding its market presence[11] - The company aims to launch new games based on popular intellectual properties such as Marvel and Song of Ice & Fire in 2024[47] - The company plans to expand into the Asian wholesale market and enhance its game design capabilities, aiming for long-term growth[47] Corporate Governance - The roles of the Chairman and Co-CEO are held by different individuals, with Mr. Huang Cheng'an currently serving as both Chairman and Co-CEO, which the board believes promotes effective management and business development[89] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the year ending December 31, 2023[90] - The audit committee reviewed the accounting policies and practices adopted by the group and discussed internal controls and financial reporting matters with management for the year ending December 31, 2023[93] Dividends - The group did not declare any dividends for the year ending December 31, 2023, consistent with 2022[28] - The board of directors does not recommend the payment of a final dividend for the fiscal year ending December 31, 2023, maintaining the same stance as in 2022[85]
CMON(01792) - 2023 - 年度业绩