Financial Performance - For the year ending December 31, 2023, the total revenue was RMB 68,297,000, a decrease of 6.3% compared to RMB 72,947,000 in 2022[5] - The gross profit for 2023 was RMB 138,000, significantly down from RMB 1,841,000 in 2022, indicating a decline in profitability[5] - The total comprehensive loss for the year was RMB 150,282,000, compared to a loss of RMB 8,957,000 in the previous year, reflecting a substantial increase in losses[5] - The company reported a loss per share of RMB 16.39 for 2023, compared to RMB 0.64 in 2022, indicating a worsening financial position[7] - The group reported a total loss before tax of RMB 146,935,000 for the year, compared to the previous year's performance[27] - The company reported a loss attributable to shareholders of approximately RMB 144,372,000 for the year ended December 31, 2023, compared to a loss of RMB 5,645,000 in 2022, indicating a significant increase in losses[50] - The group recorded a loss attributable to owners of approximately RMB 144,400,000 in 2023, compared to a loss of RMB 5,600,000 in 2022, mainly due to impairment losses and depreciation[65] Assets and Liabilities - The company's total assets decreased to RMB 413,802,000 in 2023 from RMB 455,991,000 in 2022, indicating a reduction in asset base[9] - The net asset value dropped to RMB 416,688,000 in 2023 from RMB 560,977,000 in 2022, showing a significant decline in equity[11] - The total liabilities decreased to RMB 70,511,000 in 2023 from RMB 90,231,000 in 2022, reflecting improved management of obligations[9] - Total assets for reportable segments decreased to RMB 481,047 thousand in 2023 from RMB 640,675 thousand in 2022, representing a decline of 25%[33] - Total liabilities for reportable segments increased to RMB 53,453 thousand in 2023 from RMB 35,766 thousand in 2022, marking a rise of 49.5%[33] Revenue Breakdown - Revenue from customer contracts for the year ended December 31, 2023, was RMB 68,297,000, a decrease of 6.5% from RMB 72,947,000 in 2022[23] - Sales of pork products amounted to RMB 65,242,000, down from RMB 65,851,000 in the previous year, reflecting a decline of 0.9%[23] - Pipeline system product sales decreased significantly to RMB 3,055,000 from RMB 7,096,000, representing a decline of 57.0%[23] - Revenue from the main products and services in the pig slaughtering and meat trading segment was RMB 65,242 thousand in 2023, down from RMB 65,851 thousand in 2022[37] - Revenue from the pig slaughtering and meat trading business decreased by approximately RMB 600,000 or 0.9% to about RMB 65,200,000 in 2023[64] - Revenue from the pipeline system products business decreased by approximately RMB 4,000,000 or 56.9% to about RMB 3,100,000 in 2023[64] Trade Receivables and Payables - Trade receivables increased to RMB 16,936,000 in 2023 from RMB 11,142,000 in 2022, suggesting a rise in credit sales[9] - Trade receivables increased to RMB 30,061,000 in 2023 from RMB 18,415,000 in 2022, with an expected credit loss provision of RMB 13,125,000, up from RMB 7,273,000 in the previous year[53] - Trade payables rose to RMB 12,072,000 in 2023, compared to RMB 6,556,000 in 2022, reflecting increased procurement activities[55] Employee and Operational Costs - The company incurred total employee costs of RMB 2,405,000 in 2023, down from RMB 2,703,000 in 2022, indicating a reduction in overall employee expenses[47] - The depreciation expense for property, plant, and equipment was RMB 9,661,000 in 2023, compared to RMB 9,050,000 in 2022, showing an increase in asset depreciation[51] Taxation and Compliance - The effective tax rate in Japan for the year ended December 31, 2023, was approximately 30.6%, consistent with the previous year[46] - The company’s Hong Kong profits tax is calculated at a rate of 8.25% on the first HKD 2,000,000 of profits, and 16.5% on profits exceeding that amount[45] - The company’s Chinese subsidiaries were exempt from corporate income tax for the reporting periods, reflecting compliance with applicable tax regulations[45] Corporate Governance and Future Plans - The audit committee, composed of three independent non-executive directors, reviewed the financial statements for the year ending December 31, 2023[89] - The independent auditor confirmed that the figures in the annual performance announcement are consistent with the consolidated financial statements for the year[91] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website[92] - The board of directors consists of four members, including one executive director and three independent non-executive directors[94] - The company has not disclosed any new product launches or technological advancements during the reporting period[13] - There are no indications of market expansion or mergers and acquisitions in the current financial report[13] - The group does not plan to declare a final dividend for the year ended December 31, 2023[76] - There are no significant investment or capital asset plans for the group in the near future[73] Joint Ventures and Strategic Initiatives - The new joint venture is expected to enhance the slaughtering business, allowing for better cost control and higher quality pork products, thereby increasing market share in China[79] - The company aims to optimize resource allocation between slaughtering and pipeline system products while implementing cost control measures to benefit shareholders[79] - A new joint venture company received operational and slaughtering licenses on January 31, 2024, following the completion of all conditions outlined in a previous announcement[81] Miscellaneous - The company has not purchased, sold, or redeemed any of its listed securities during the year ending December 31, 2023[82] - As of December 31, 2023, the group maintained cash and bank balances of approximately RMB 389,800,000, down from RMB 416,400,000 in 2022[66] - The current ratio as of December 31, 2023, was 5.9, compared to 5.1 in 2022[66] - The group had no outstanding borrowings as of December 31, 2023[67] - As of December 31, 2023, the company employed 34 staff members, an increase from 21 in 2022[77] - The company has issued a total of 880,838,000 shares as of December 31, 2023[78] - No significant post-year-end events occurred as of December 31, 2023[81]
惠生国际(01340) - 2023 - 年度业绩