Financial Performance - The company reported a revenue of approximately RMB 17.9 million for the year ending December 31, 2023, a decrease of about 51.4% compared to RMB 36.8 million in the previous year[4]. - The company confirmed a loss of approximately RMB 57.9 million for the year, which is an increase of about 67.4% from the loss of RMB 34.6 million reported in the previous year[4]. - The loss per share for the year was approximately RMB 0.37[4]. - The total comprehensive loss for the year was RMB 57.9 million, compared to RMB 34.6 million in the previous year[5]. - The total comprehensive loss for the year was (57,905) million, compared to (34,470) million in the previous year, indicating a significant increase in losses[8]. - The company reported a total loss of RMB 49,882,000 for 2023, compared to a loss of RMB 31,520,000 in 2022[34]. - The company's annual loss for the year was approximately RMB 57.9 million, an increase of about 23.3 million or approximately 67.4% compared to the loss of RMB 34.6 million as of December 31, 2022[93]. Dividend and Equity - The board of directors does not recommend the distribution of a final dividend for the year[4]. - The company has not proposed any dividend for the year ending December 31, 2023, while there was no dividend in 2022[35]. - Total equity decreased from RMB 330,475 thousand in 2022 to RMB 273,035 thousand in 2023, representing a decrease of about 17.4%[11]. - The total equity attributable to the parent company decreased from RMB 329,690 thousand in 2022 to RMB 272,927 thousand in 2023, a decline of about 17.2%[11]. Assets and Liabilities - Non-current assets totaled 94,395 million, an increase from 64,247 million year-over-year, showing growth in long-term investments[10]. - Current assets decreased to 239,755 million from 298,138 million, indicating a reduction in liquidity[10]. - Total liabilities increased to 56,647 million from 31,436 million, reflecting a rise in financial obligations[10]. - The company's total liabilities as of December 31, 2023, amounted to RMB 54,472,000, compared to RMB 27,231,000 in 2022[50]. - The company's interest-bearing loans amounted to RMB 14,902,000, with an interest rate of 11.3%[51]. Income and Expenses - The company reported a significant decrease in other income and gains, from RMB 5.8 million in 2022 to RMB 0.64 million in 2023[5]. - Administrative expenses decreased from RMB 44.8 million in 2022 to RMB 38.2 million in 2023[5]. - The total other expenses for 2023 were RMB 34,692,000, compared to RMB 651,000 in 2022[30]. - The group recognized income tax expenses of approximately RMB 8.0 million this year, an increase of about RMB 5.0 million compared to last year, mainly due to unrecognized deductible temporary differences and increased tax losses[92]. Credit and Receivables - The company experienced an increase in impairment losses on trade receivables, rising from RMB 6.7 million in 2022 to RMB 7.4 million in 2023[5]. - Trade receivables were reported at 64,937 million, down from 89,618 million, suggesting a decline in sales or collection efficiency[10]. - The impairment loss provision for trade receivables decreased to RMB 19,739,000 in 2023 from RMB 33,306,000 in 2022, a reduction of approximately 40.7%[44]. - The expected credit loss for accounts receivable from non-controlling interests was assessed at RMB 1,055,000 as of December 31, 2023, compared to zero in 2022, indicating the emergence of credit risk[47]. Operational Developments - The company did not report any new product developments or market expansions during the fiscal year[4]. - There were no acquisitions or significant strategic changes mentioned in the earnings call[4]. - The group did not launch or sell any new wealth management products during the reporting period, resulting in no revenue from this segment[64]. - The group aims to enhance its core competitive advantages and actively seek capital market opportunities to support platform construction and business expansion in the real estate asset management sector[68]. Governance and Compliance - The company is committed to good corporate governance and has adopted relevant principles and standards, although there is a deviation regarding the roles of the Chairman and CEO[129]. - The audit firm Ernst & Young confirmed that the financial statements for the year are consistent with the preliminary financial report[140]. - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and practices adopted by the company[142]. Market and Economic Context - The company's management reported a 5.2% increase in China's GDP for the year, indicating a recovery trend despite global economic challenges[52]. - The group anticipates that the economic recovery trend will continue into 2024, with improved market confidence expected[72].
瑞威资管(01835) - 2023 - 年度业绩