Financial Performance - For the year ended December 31, 2023, the company's revenue was RMB 166,917,000, a decrease of 21.5% compared to RMB 212,519,000 in 2022[4] - The gross profit for the same period was RMB 27,035,000, representing a significant increase of 53.5% from RMB 17,571,000 in the previous year[4] - The net loss for the year was RMB 18,626,000, an improvement of 46.6% compared to a net loss of RMB 34,851,000 in 2022[4] - Total revenue for the year 2023 was RMB 166,917,000, a decrease of 21.5% from RMB 212,519,000 in 2022[22] - Revenue from inflatable products and related accessories was RMB 150,860,000, down from RMB 212,051,000 in the previous year, representing a decline of 29%[22] - The group reported a total loss before tax of RMB 18,408,000 for the year 2023, compared to a loss of RMB 35,768,000 in 2022, indicating an improvement[26] - The group reported a net loss attributable to owners of the company of RMB 18,626,000 in 2023, an improvement from a loss of RMB 34,851,000 in 2022[42] - The company reported a significant impairment loss on non-financial assets of RMB 10,223,000 in 2023, compared to RMB 12,215,000 in 2022, a decrease of 16.3%[33] - Other income and gains for 2023 totaled approximately RMB 5,468,000, a decrease of about RMB 3,345,000 or 38.0% from RMB 8,813,000 in 2022[55] Assets and Liabilities - The company's total assets as of December 31, 2023, were RMB 183,775,000, a decrease from RMB 190,846,000 in 2022[6] - Current assets increased to RMB 164,537,000 from RMB 152,522,000 in the previous year, indicating a growth of 7.0%[6] - The total equity attributable to owners decreased to RMB 104,665,000 from RMB 123,148,000, a decline of 15.0%[7] - The group’s total liabilities amounted to RMB 79,110,000, with RMB 60,486,000 attributed to reportable segments[29] - Trade receivables decreased to RMB 17,707,000 in 2023 from RMB 22,738,000 in 2022, indicating a reduction of 22.1%[44] Cash Flow and Financing - The company’s cash and bank balances rose to RMB 56,323,000, up from RMB 29,385,000 in 2022, reflecting a significant increase of 91.7%[6] - Interest income from bank deposits for the year was RMB 753,000, an increase from RMB 56,000 in the previous year[26] - Interest income from bank deposits rose to RMB 753,000 in 2023 compared to RMB 56,000 in 2022, marking a significant increase of 1,241.1%[38] - The company’s financing costs, specifically lease liabilities interest, decreased to RMB 1,015,000 in 2023 from RMB 1,607,000 in 2022, a reduction of 37%[39] - The current ratio as of December 31, 2023, was approximately 2.44, down from 2.83 in 2022, indicating a decrease in liquidity[63] Business Operations - The company has been focusing on the manufacturing and sales of inflatable products and dental clinic services, indicating a strategic emphasis on these sectors[11] - The dental clinic services segment generated revenue of RMB 9,695,000, while sales of medical equipment and dental materials contributed RMB 1,450,000 and RMB 4,595,000 respectively[22] - The company completed the acquisition of Hong Kong Shengke Holdings Limited in January 2023, entering the dental clinic services sector, which is expected to provide new revenue streams[50] Employee and Governance - As of December 31, 2023, the company had 544 full-time employees, a decrease from 571 in 2022, with total employee compensation amounting to approximately RMB 42,001,000, down from RMB 50,993,000 in 2022[74] - The company has confirmed compliance with the GEM Listing Rules regarding the trading of securities by directors, with no reported violations in 2023[82] - The company has adhered to the corporate governance code as per the GEM Listing Rules, confirming compliance in 2023[86] - The audit committee was established on June 20, 2017, and consists of three independent non-executive directors as of 2023[87] - The audit committee's main responsibility is to review and supervise the group's financial reporting and internal control procedures[87] Future Outlook - The company plans to apply all other revised Hong Kong Financial Reporting Standards in the foreseeable future without significant impact on the consolidated financial statements[17] - The company has proposed to issue bonds with a total principal amount of up to HKD 40,000,000 at a 5% coupon rate over 36 months, with an introduction fee of HKD 2,000,000 payable to the agent[70] Miscellaneous - The company has not established any formal foreign exchange hedging policy, which limits its ability to mitigate foreign exchange risks due to the non-convertibility of the Renminbi[72] - No credit loss provisions were recognized for trade and other receivables in 2023, compared to RMB 547,000 in provisions in 2022, indicating a stable collection history from customers[73] - The company has not granted any stock options under its stock option plan since its adoption on November 15, 2017[80] - The annual general meeting is scheduled for June 21, 2024, with a suspension of share transfer registration from June 18 to June 21, 2024[85] - The consolidated financial statements for the year ended December 31, 2023, have been reviewed by the auditors, confirming consistency with the audited financial statements[89] - The board expresses gratitude to the management and staff for their dedication and to shareholders, suppliers, customers, and banks for their ongoing support[91] - The announcement will be published on the Hong Kong Stock Exchange website for at least seven days from the date of publication[92]
中国口腔产业(08406) - 2023 - 年度业绩