Financial Performance - Revenue for the year ended December 31, 2023, was RMB 2,569.5 million, a decrease of 21.3% from RMB 3,263.6 million in 2022[4] - Net profit attributable to shareholders for 2023 was RMB 25.3 million, down 64.9% from RMB 72.1 million in 2022[4] - Basic and diluted earnings per share decreased to RMB 0.41 in 2023 from RMB 1.16 in 2022[4] - Total revenue for 2023 was RMB 2,569,509,000, a decrease of 21.3% from RMB 3,263,601,000 in 2022[34] - Pre-tax profit for 2023 was RMB 19,865,000, a significant decrease of 81.7% compared to RMB 108,605,000 in 2022[34] - The consolidated net profit for the group in 2023 is approximately RMB 25.3 million, a decrease from RMB 72.1 million in 2022[79] Profitability Metrics - Adjusted gross profit margin improved to 15.4% in 2023 from 11.1% in 2022[4] - Adjusted gross profit for 2023 was RMB 396,021,000, up 9.5% from RMB 361,590,000 in 2022[34] - The domestic adjusted gross margin of the group is approximately 16.9% in 2023, a decrease of about 0.8 percentage points compared to 16.1% in 2022[73] - The overseas adjusted gross margin of the group is approximately 14.4% in 2023, an increase of about 7.5 percentage points compared to 6.9% in 2022[73] Cash Flow and Assets - Operating cash flow generated was RMB 349.3 million, significantly up from RMB 76.8 million in the previous year[4] - Total assets decreased to RMB 4,030.1 million in 2023 from RMB 5,006.8 million in 2022[10] - The company reported a net cash position of RMB 274.5 million as of December 31, 2023, compared to RMB 219.5 million in 2022[15] - The total equity decreased to RMB 884.7 million in 2023 from RMB 1,011.5 million in 2022[11] - The group's current asset net value as of December 31, 2023, is approximately RMB 169.4 million, a decrease of about RMB 138.4 million or 45.0% compared to RMB 307.8 million in 2022[81] Liabilities and Financing - Current liabilities reduced to RMB 3,860.8 million in 2023 from RMB 4,699.0 million in 2022[10] - The total bank loans of the group as of December 31, 2023, is approximately RMB 714.0 million, a decrease of about RMB 141.0 million or 16.5% compared to RMB 855.0 million in 2022[82] - The company is in discussions with banks regarding the renewal of short-term bank loans and/or obtaining additional bank financing[18] - The group has committed financial support from its controlling shareholder, including the renewal of loans at maturity[18] Revenue Breakdown - Revenue from domestic customers decreased to RMB 1,031,099,000 in 2023 from RMB 1,471,880,000 in 2022, a decline of 30%[37] - Revenue from overseas customers decreased to RMB 1,538,410,000 in 2023 from RMB 1,791,721,000 in 2022, a decline of 14.1%[37] - The total value of new contracts signed in 2023 was approximately RMB 4,849.6 million, an increase of approximately RMB 2,712.2 million or 126.9% compared to RMB 2,137.4 million in 2022[63] Employee and Operational Metrics - Employee costs for 2023 totaled RMB 411,524,000, down from RMB 439,832,000 in 2022, a decrease of 6.4%[38] - The company employed a total of 2,376 full-time employees as of December 31, 2023, down from 2,511 employees in the previous year, due to optimization of workforce[97] - The accounts receivable turnover days increased to approximately 353 days in 2023, an increase of about 51 days or 16.9% compared to 302 days in 2022[85] Research and Development - Research and development costs increased to RMB 77,159,000 in 2023 from RMB 72,867,000 in 2022, an increase of 5.5%[40] - The company obtained 14 new utility model patents in 2023, reflecting its commitment to technological innovation[68] Dividends and Corporate Governance - The company did not declare a final dividend for the year ended December 31, 2023[4] - The board of directors decided not to declare a final dividend for the year ended December 31, 2023, consistent with the previous year[103] - The company has complied with all corporate governance code provisions as per the listing rules as of December 31, 2023[101] Legal and Compliance Matters - The anticipated total monetary compensation for ongoing legal claims could reach approximately RMB 285.2 million, with RMB 51.6 million already provisioned[61] - The company has maintained sufficient public float as of the announcement date[107] - The company appointed KPMG as its auditor effective June 30, 2022, after a series of changes in auditors over the past years[108]
远大中国(02789) - 2023 - 年度业绩