Financial Performance - In the fiscal year 2023, Zhongtian Construction reported revenue from construction contracts of approximately RMB 1,944.2 million, an increase of about RMB 62.8 million or 3.3% compared to RMB 1,881.4 million in fiscal year 2022[3]. - The overall gross profit margin remained relatively stable at approximately 11.1% for fiscal year 2023, compared to 10.9% in fiscal year 2022[3]. - The net profit for fiscal year 2023 decreased by approximately RMB 19.5 million compared to fiscal year 2022[4]. - Total comprehensive income for the year was RMB 45.99 million, down from RMB 65.49 million in the previous year[6]. - Basic and diluted earnings per share for the company were RMB 10.04, a decrease from RMB 17.91 in the previous year[6]. - Total revenue for the year ended December 31, 2023, was RMB 1,952,122 thousand, an increase of 3.3% from RMB 1,890,660 thousand in 2022[25]. - The company reported a pre-tax profit of RMB 45,277 thousand for 2023, down 29.8% from RMB 64,471 thousand in 2022[36]. - Basic earnings per share for 2023 were RMB 10.04, compared to RMB 17.91 in 2022, reflecting a decrease of 43.7%[36]. - The gross profit for fiscal year 2023 rose to approximately RMB 216.2 million, reflecting a year-on-year increase of about 4.4% from RMB 206.6 million in fiscal year 2022[46]. - The gross margin and net margin for fiscal year 2023 were approximately 11.1% and 2.4%, respectively[46]. Revenue Breakdown - Revenue from civil construction projects was RMB 974,816 thousand, up 13.6% from RMB 857,897 thousand in 2022[25]. - Revenue from construction contracts increased by approximately RMB 62.8 million or 3.3% to RMB 1,944.2 million in fiscal year 2023, primarily driven by a significant increase in revenue from specialized construction projects[47]. - Revenue from civil construction projects surged by approximately RMB 116.9 million or 13.6% to RMB 974.8 million, largely due to the resumption of the Dongfang City New Home Phase II project[49]. - Revenue from municipal engineering decreased by approximately RMB 116.7 million or 15.9% to RMB 618.4 million, mainly due to the completion of major projects[50]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 2,009.02 million, an increase from RMB 1,744.02 million in 2022[8]. - The company's equity attributable to owners increased to RMB 501.82 million in 2023 from RMB 349.81 million in 2022[9]. - The company reported a significant increase in contract assets, rising to RMB 1,476.03 million in 2023 from RMB 1,127.15 million in 2022[8]. - Trade receivables as of December 31, 2023, amounted to RMB 384,027 thousand, an increase from RMB 363,027 thousand in 2022[38]. - The company's current assets net value as of December 31, 2023, was approximately RMB 491.8 million, improving the current ratio from 1.24 in 2022 to 1.32 in 2023[72]. - Total debt decreased slightly from approximately RMB 140.1 million as of December 31, 2022, to RMB 116.2 million as of December 31, 2023, with a debt-to-equity ratio dropping from 39.0% to 22.7%[73]. Expenses - Administrative expenses rose to RMB 128.98 million in 2023, compared to RMB 117.55 million in 2022[6]. - Financial costs increased slightly to RMB 7.79 million in 2023 from RMB 7.41 million in 2022[6]. - The company incurred a total of RMB 727,921 thousand in cost of goods sold for the year, compared to RMB 715,675 thousand in 2022[29]. - The company's total labor and subcontracting costs increased by approximately 12.3% compared to fiscal year 2022, attributed to the labor-intensive nature of projects in the later stages of development[56]. - The company incurred listing expenses of approximately RMB 10.2 million in fiscal year 2023, up from RMB 6.2 million in fiscal year 2022[60]. - The company's research costs for 2023 were RMB 63,660 thousand, an increase from RMB 61,821 thousand in 2022[29]. Tax and Dividends - The company’s income tax expense for the year was RMB 6,857 thousand, compared to RMB 8,243 thousand in 2022[33]. - The company does not recommend declaring any final dividend for the fiscal year ended December 31, 2023[100]. - The company did not declare or pay any dividends during the year, compared to no dividends declared in 2022[34]. Other Information - The company has no significant contingent liabilities as of December 31, 2023, apart from ongoing litigation and claims arising in the normal course of business[82]. - The company has no major investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the fiscal year 2023[87]. - The company plans to utilize the remaining unutilized proceeds of RMB 18.2 million for purchasing and/or replacing construction machinery and equipment, expected to be completed by December 2024[86]. - The board of directors confirmed that the company maintained sufficient public float as required by the listing rules as of the fiscal year 2023 and up to the announcement date[98]. - The company has not identified any significant matters related to its business or financial performance after December 31, 2023[101]. - The company has not entered into any foreign exchange contracts to hedge against currency fluctuations as of December 31, 2023, and considers the foreign exchange risk to be minimal[89]. - The annual general meeting is scheduled for May 28, 2024, with a suspension of share transfer registration from May 23 to May 28, 2024[102]. - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, with the full annual report for the year ending December 31, 2023 to be sent to shareholders in due course[104]. - The board of directors includes the chairman and executive director Yang Zhongjie, along with other executive and independent non-executive directors[105].
中天湖南集团(02433) - 2023 - 年度业绩