Financial Performance - Revenue for the year ended December 31, 2023, was RMB 313.3 million, representing a 50.6% increase from RMB 208.0 million in 2022[2] - Gross profit for the same period was RMB 95.9 million, up 101.9% from RMB 47.5 million in the previous year[2] - Profit before tax increased by 45.9% to RMB 34.1 million, compared to RMB 23.4 million in 2022[2] - Net profit attributable to shareholders was RMB 29.3 million, a 29.8% increase from RMB 22.6 million in the prior year[2] - Basic and diluted earnings per share rose to RMB 22.93, up 29.8% from RMB 17.66 in 2022[2] - Total revenue for the year ended December 31, 2023, was RMB 313,265,000, an increase of 50.6% from RMB 208,048,000 in 2022[21] - Revenue from the sale of production lines reached RMB 52,472,000 for electroplated brass wire production lines, up from RMB 21,206,000 in 2022[21] - Revenue from single machine sales increased significantly to RMB 233,758,000 in 2023, compared to RMB 99,306,000 in 2022[21] - Revenue from China was RMB 312,100,000, representing a 56.5% increase from RMB 199,491,000 in 2022[23] - The company reported a net profit attributable to equity shareholders of RMB 29,346,000 for 2023, up from RMB 22,604,000 in 2022, resulting in basic earnings per share of RMB 22.93[30] - The overall gross margin improved from approximately 22.8% in 2022 to about 30.6% in 2023, primarily due to a higher proportion of sales from high-margin single machine sales[49] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 1,029.1 million, compared to RMB 945.7 million in 2022[9] - Total equity increased to RMB 673.7 million from RMB 654.6 million in the previous year[9] - Inventory as of December 31, 2023, was RMB 260.3 million, up from RMB 196.5 million in 2022[9] - Trade receivables increased to RMB 309.5 million in 2023 from RMB 216.9 million in 2022, with a net amount of RMB 236.7 million after impairment provisions[35] - Contract assets increased to RMB 36,028,000 in 2023 from RMB 23,794,000 in 2022, with a net amount of RMB 33,541,000 after impairment[32] - Trade payables and notes payable increased by approximately 8.7% from about RMB 157,600,000 at the end of 2022 to about RMB 175,700,000 at the end of 2023[64] - Cash and bank balances totaled approximately RMB 246,400,000 as of December 31, 2023, down from about RMB 281,900,000 at the end of 2022[65] - The current ratio was 2.31 as of December 31, 2023, compared to 2.7 at the end of 2022[66] - The company had no borrowings as of December 31, 2023, down from approximately RMB 2,000,000 at the end of 2022[68] Income and Expenses - The company reported a significant increase in financial income, which rose to RMB 6.0 million from RMB 2.9 million in the previous year[5] - Rental income decreased by approximately 16.3% to RMB 4.7 million in 2023 due to a reduction in the number of properties leased to third parties[48] - Other income increased by approximately 96.7% from about RMB 1,200,000 in 2022 to about RMB 2,400,000 in 2023[50] - Administrative expenses rose from approximately RMB 29,700,000 in 2022 to about RMB 53,000,000 in 2023, primarily due to increased impairment losses on sales properties[52] - The company recorded a significant increase in trade receivables impairment losses, rising to RMB 22.7 million in 2023 from RMB 3 million in 2022[36] - Financial assets and contract asset impairment losses net amount increased to approximately RMB 23,800,000 in 2023 from about RMB 4,300,000 in 2022[54] - Inventory costs recognized as expenses and included in "cost of sales" amounted to approximately RMB 199.2 million in 2023, compared to RMB 143.6 million in 2022[38] Business Operations - The company continues to focus on manufacturing and selling equipment for wire production lines, indicating ongoing commitment to its core business[10] - The company sold five sets of electroplated brass wire production lines in 2023, generating revenue of approximately RMB 52.5 million, a 147.4% increase from RMB 21.2 million in 2022[46] - The revenue from single machine sales surged to approximately RMB 233.8 million in 2023, up 135.4% from RMB 99.3 million in 2022[48] - Major customers contributing over 10% of total revenue included Company A with RMB 217,391,000 and Company B with RMB 42,524,000[24] Future Outlook and Corporate Governance - The company expects that the new accounting standards and interpretations will not have a significant impact on its financial performance or position upon implementation[20] - The company intends to continue implementing a diversified development strategy and actively seek potential investment opportunities[91] - The company will focus on enhancing product quality, optimizing processes, and improving service levels to boost core competitiveness and promote sustainable development[80] - The audit committee has reviewed the accounting principles and discussed the financial reporting system, risk management, and internal control systems for the year[103] - The external auditor, PwC, confirmed that the figures in the performance announcement align with the audited consolidated financial statements for the year ending December 31, 2023[104] - The company has maintained the minimum public float as required by the listing rules throughout the year[105] - The annual report will be published by April 2024 and will be available on the stock exchange and the company's website[107] Employee and Shareholder Information - The company employed a total of 197 full-time employees as of December 31, 2023, compared to 192 employees as of December 31, 2022[81] - Total employee compensation for the year was approximately RMB 27,900,000, an increase from approximately RMB 24,300,000 in 2022, reflecting a growth of about 10.5%[81] - The company plans to distribute a final dividend of RMB 0.08 per share, totaling RMB 10,240,000, subject to shareholder approval at the annual general meeting[98] - As of December 31, 2023, the company had cash deposits of approximately RMB 65,100,000 pledged to banks as collateral, down from RMB 108,600,000 as of December 31, 2022[90] - The company has no significant contingent liabilities as of December 31, 2023[84] - There were no major investments held by the company during the year[85] - The company has not made any acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[86] - The company will suspend share transfer registration from May 27, 2024, to June 26, 2024, to determine the eligibility of shareholders for the annual general meeting[100] - The company will suspend share transfer registration from July 3 to July 8, 2024, to qualify for the final dividend for the year ending December 31, 2023[102]
盛力达科技(01289) - 2023 - 年度业绩