Financial Performance - The company reported a loss attributable to equity shareholders of approximately RMB 10.1 million for 2023, a decrease of about RMB 15.5 million compared to a profit of approximately RMB 5.4 million in 2022[2]. - The group recorded a net loss of approximately RMB 12.5 million in 2023, a decrease of about 17.9 million from a net profit of RMB 5.4 million in 2022, mainly due to expenses related to the energy storage business and reduced gross margins in pitch control systems[37]. - The basic and diluted loss per share for 2023 was RMB (0.041), compared to earnings of RMB 0.021 per share in 2022[62]. - The company reported a comprehensive loss before tax of RMB 11,661 thousand in 2023, compared to a profit of RMB 7,237 thousand in 2022[102]. - Operating loss for 2023 was RMB 8,639,000, compared to an operating profit of RMB 9,199,000 in 2022[62]. Revenue and Sales - The total revenue for the group in 2023 was RMB 284.1 million, an increase of 29% compared to RMB 219.9 million in 2022, primarily due to an increase in the number of delivered pitch control systems and growth in the energy storage business[32]. - Revenue from pitch control systems was approximately RMB 217.6 million in 2023, up by about RMB 44.7 million or approximately 26% from 2022, driven by an increase in orders received and delivered[34]. - Energy storage revenue surged to RMB 29.1 million in 2023, a significant increase from RMB 4 million in 2022, reflecting customer recognition of the energy storage solutions[35]. - Reportable segment revenue increased from RMB 219,949 thousand in 2022 to RMB 284,075 thousand in 2023, representing a growth of about 29%[102]. Costs and Expenses - The total cost of sales for 2023 was RMB 257 million, an increase of RMB 65 million from RMB 192 million in 2022[7]. - The gross profit for 2023 was approximately RMB 27 million, a decrease of about RMB 1 million or 2% from RMB 28 million in 2022, with the overall gross margin declining from 13% in 2022 to 9% in 2023[10]. - Administrative and other operating expenses for 2023 were approximately RMB 31 million, an increase of RMB 15 million from about RMB 16 million in 2022, primarily due to increased labor costs and expenses associated with the energy storage business[36]. - The company’s financial expenses for 2023 were approximately RMB 3 million, an increase of about 54% from RMB 2 million in 2022, mainly due to increased bank loans for new energy storage projects[15]. Assets and Liabilities - The asset-liability ratio for 2023 was approximately 50%, an increase of 39% from 11% in 2022, primarily due to an increase in bank loans and other borrowings[3]. - The group’s total assets less current liabilities amounted to RMB 274.3 million as of December 31, 2023, compared to RMB 272.8 million in 2022[45]. - The group had cash and cash equivalents of RMB 55.8 million as of December 31, 2023, an increase from RMB 43.9 million in 2022[45]. - Trade payables increased from RMB 126,632 thousand in 2022 to RMB 171,842 thousand in 2023, an increase of about 35.7%[96]. Government Support and Grants - The company received unconditional government subsidies of RMB 78,000 and RMB 4,267,000 for technology development and local economic contributions in 2023 and 2022, respectively[79]. - Government grants decreased significantly from RMB 4,267 thousand in 2022 to RMB 78 thousand in 2023, a decline of about 98.2%[103]. Future Plans and Investments - The company plans to strengthen its energy storage team and enhance research and development of energy storage products and systems in 2024, aiming to make energy storage a core business[30]. - The company plans to invest in the development of a new distributed wind farm in Lingqiu County, Datong City, Shanxi Province, using part of the IPO proceeds[146]. Corporate Governance and Management - The company emphasizes the importance of good corporate governance standards to protect shareholder interests and enhance corporate value[163]. - The company has maintained strict financial management and credit policies to mitigate risks associated with cash flow and accounts receivable[143]. Miscellaneous - The company has not declared or paid any dividends for both 2023 and 2022[115]. - The company has not engaged in any significant acquisitions or disposals during the fiscal year ending December 31, 2023[148]. - The company has confirmed that it has no foreign exchange hedging contracts in place, exposing it to currency risk primarily from USD-denominated assets and liabilities[156].
纳泉能源科技(01597) - 2023 - 年度业绩