Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 375,161,000, a decrease of 2.7% compared to RMB 385,472,000 in 2022[5] - The gross profit for the same period was RMB 45,753,000, down 42.8% from RMB 79,838,000 in the previous year[5] - The net loss attributable to the owners of the company for 2023 was RMB 230,665,000, compared to a loss of RMB 340,411,000 in 2022, representing a 32.3% improvement[5] - The group reported a pre-tax loss of RMB 193,801,000 for the year ending December 31, 2023, compared to a pre-tax loss of RMB 301,723,000 for the year ending December 31, 2022[21][22] - The group recorded a net loss of RMB 230,665,000 for the year 2023, compared to a net loss of RMB 340,411,000 in 2022, indicating an improvement of 32.3%[51] - The basic and diluted loss per share for 2023 was RMB 15.34, compared to RMB 22.64 in 2022, indicating a reduction in loss per share by 32.4%[5] - Net loss recorded during the reporting period was approximately RMB 211,900,000, compared to a net profit of about RMB 315,100,000 for the year ended December 31, 2022[84] Assets and Liabilities - Total assets decreased from RMB 1,073,409,000 in 2022 to RMB 804,309,000 in 2023, a decline of 25%[6] - Non-current assets decreased from RMB 1,398,744,000 in 2022 to RMB 1,257,257,000 in 2023, a reduction of 10.1%[6] - Current liabilities increased from RMB 815,243,000 in 2022 to RMB 829,732,000 in 2023, an increase of 1.8%[6] - As of December 31, 2023, the group had a net current liability of approximately RMB 452,948,000, an increase from RMB 325,335,000 as of December 31, 2022[12] - Total liabilities as of December 31, 2023, were approximately RMB 1,016,100,000, compared to about RMB 1,050,900,000 in 2022, with a debt-to-equity ratio increasing to 59.7% from 50.3%[88] Cash Flow and Financing - The company's cash and cash equivalents decreased from RMB 35,067,000 in 2022 to RMB 32,508,000 in 2023, a decline of 7.3%[6] - The board believes that the group has sufficient cash resources to meet its operational funding and financial obligations for at least the next twelve months[14] - The group is actively seeking additional financing and loan sources to settle existing financial obligations and fund future operations and capital expenditures[16] - The group is actively exploring various financing options with multiple financial institutions to secure operational funding for the foreseeable future[68] Revenue Breakdown - External sales for the infrastructure and dredging business segment amounted to RMB 30,069,000, while the environmental dredging and water management segment generated RMB 9,006,000 in external sales for the year ending December 31, 2023[21] - Revenue from the infrastructure and reclamation business was RMB 30,069 thousand, down 68.9% from RMB 96,497 thousand in 2022[33] - Revenue from environmental dredging and water management business was RMB 9,006 thousand, a decline of 47.3% from RMB 17,071 thousand in 2022[33] - Revenue from other maritime business increased to RMB 334,300 thousand, up 24.2% from RMB 269,218 thousand in 2022[33] - The infrastructure and land reclamation segment generated revenue of approximately RMB 30,100,000, a significant decrease of about 68.8% compared to the previous year, primarily due to economic downturns and project delays[70] - The environmental dredging and water management segment recorded revenue of approximately RMB 9,000,000, a decrease of about 47.2% due to a reduction in the number of projects undertaken during the reporting period[70] - The other maritime operations segment achieved revenue of approximately RMB 334,300,000, an increase of 24.2%, driven by a higher number of executed projects, particularly in offshore wind power construction[72] Cost Management - Total operating costs increased to RMB 329,408,000 in 2023 from RMB 305,634,000 in 2022, reflecting a rise of 7.8%[50] - The group continues to implement cost control measures to improve cash flow from operations[16] - The group plans to strengthen cost control and optimize capital structure to support business development amid economic slowdown[93] - The group’s total employee costs decreased to RMB 58,244,000 in 2023 from RMB 62,702,000 in 2022, a reduction of 7.4%[50] Equity and Dividends - The company's equity attributable to owners decreased from RMB 679,675,000 in 2022 to RMB 449,010,000 in 2023, a decrease of 33.9%[7] - The board does not recommend any final dividend for the year ending December 31, 2023, consistent with 2022[95] Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions during the reporting period[98] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and financial reporting systems for the year ending December 31, 2023[100] - The external auditor confirmed that the financial figures in the announcement align with the audited consolidated financial statements for the year ending December 31, 2023[102] Employee Information - As of December 31, 2023, the company had 443 employees, a decrease from 471 employees in 2022[94]
中国疏浚环保(00871) - 2023 - 年度业绩