Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately RMB 317.4 million, an increase of about 136.6% compared to RMB 134.2 million in the same period of 2022[2]. - The gross profit for the year was approximately RMB 23.8 million, compared to a gross loss of approximately RMB 3.8 million in 2022[2]. - The net loss attributable to the company for the year was approximately RMB 10.1 million, an increase of about 12.9% from RMB 8.9 million in the same period of 2022[2]. - The basic and diluted loss per share for the year was approximately RMB 0.80[3]. - The company reported a net loss attributable to shareholders for 2023 was RMB 10,091,000, compared to a net loss of RMB 8,937,000 in 2022, resulting in a basic and diluted loss per share of RMB 0.80[27]. - The company’s other income decreased by approximately 18.0% to RMB 4.4 million from RMB 5.4 million for the year ended December 31, 2022, primarily due to a reduction in one-time government subsidies related to the company's listing[57]. - The group recorded a net loss of approximately RMB 10.1 million for the reporting period, compared to a net loss of RMB 8.9 million in the previous year[64]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 492.2 million, compared to RMB 354.9 million as of December 31, 2022[5]. - Current assets increased to RMB 363.3 million in 2023 from RMB 208.8 million in 2022[5]. - Total liabilities increased significantly to RMB 176.3 million in 2023 from RMB 29.0 million in 2022[7]. - The company's equity attributable to owners decreased to RMB 315.9 million in 2023 from RMB 325.9 million in 2022[6]. - As of December 31, 2023, the total net book value of properties, plants, and equipment is RMB 128,340,000, a decrease from RMB 145,122,000 as of December 31, 2022, representing a decline of approximately 11.5%[28]. - The total amount of cash flow forecasts for the lace and dyeing business is based on a five-year financial budget approved by the board of directors, with long-term growth rates aligned with industry averages[31]. Segment Performance - The company reported segment revenues for 2023 as follows: Lace manufacturing at RMB 20,690 thousand, Dyeing services at RMB 53,287 thousand, and Footwear business at RMB 243,376 thousand, totaling RMB 317,353 thousand, compared to RMB 134,155 thousand in 2022[13]. - The footwear segment generated revenue of approximately RMB 243.4 million, representing a growth of approximately 370% from RMB 51.3 million for the year ended December 31, 2022[56]. - The lace manufacturing and dyeing services experienced a decline, with lace revenue decreasing by approximately 22.7% to RMB 20.7 million from RMB 26.8 million for the year ended December 31, 2022[55]. - The company reported a segment performance loss in Dyeing services of RMB (7,327) thousand in 2023, an improvement from RMB (8,223) thousand in 2022[13]. Expenses and Costs - Total expenses for 2023 included raw materials and goods consumed amounting to RMB 242,584,000, a significant increase from RMB 72,543,000 in 2022[19]. - Sales and distribution expenses increased approximately 8.7 times from RMB 1.7 million to RMB 16.2 million, correlating with revenue growth in the footwear business[59]. - Administrative expenses rose by approximately 23.6% from RMB 14.4 million to RMB 17.8 million, primarily due to increased staffing in Hong Kong and mainland China[60]. - The company incurred research and development expenses of RMB 8,659 thousand in 2023, compared to RMB 8,586 thousand in 2022, indicating ongoing investment in innovation[13]. Cash Flow and Financing - The company reported a net financing income of RMB 1,954,000 for 2023, down from RMB 2,327,000 in 2022[22]. - The company’s interest-bearing loans amounted to RMB 33.4 million, with a fixed annual interest rate of 8.0%[45]. - The group had borrowings of approximately RMB 36.9 million as of December 31, 2023, compared to no borrowings in the previous year[65]. Corporate Governance and Compliance - The company has adhered to corporate governance codes and standards during the reporting period[78]. - The audit committee was established on December 16, 2020, consisting of three independent non-executive directors[82]. - The group's auditor confirmed that the financial statements for the year ending December 31, 2023, are consistent with the draft financial statements[83]. Future Outlook and Strategy - The company plans to gradually reduce investment in lace manufacturing and dyeing services, focusing more on the footwear business to mitigate risks and improve financial performance[49]. - The company aims to enhance production efficiency and reduce operating costs while complying with environmental policies and strengthening R&D capabilities[50]. - The company plans to enhance dyeing and finishing service capabilities through upgrades and purchases of machinery and facilities, allocating HKD 49.9 million for this purpose[75]. - The company will continue to seek new business development opportunities despite not having specific plans for major investments or acquisitions[73].
应星控股(01440) - 2023 - 年度业绩