Financial Performance - The company reported a total revenue of RMB 10.36 billion for the year ended December 31, 2023, a decrease of RMB 0.71 billion or 0.68% compared to RMB 10.43 billion in 2022[3]. - Net profit for the year was RMB 910 million, an increase of RMB 12 million or 1.34% from RMB 898 million in the previous year[5]. - The company's gross profit for the year was RMB 1.89 billion, compared to RMB 1.83 billion in 2022, reflecting an increase of RMB 54 million[6]. - The group achieved a gross profit of RMB 1.886 billion for the year ended December 31, 2023, an increase of RMB 53 million or 2.89% from RMB 1.833 billion in the previous year, with a gross margin of 18.21%, up from 17.56%[12]. - The design, surveying, and consulting segment's gross profit increased by RMB 131 million or 10.19% to RMB 1.416 billion, with a gross margin of 29.10%, slightly up from 28.81%[12]. - The company reported a total profit of RMB 897,676 for the year, compared to RMB 989,374 in the previous year, reflecting a decline of approximately 9.26%[73]. - The net profit attributable to equity holders of the parent company was RMB 872,852,000 in 2023, down from RMB 959,159,000 in 2022, representing a decrease of about 9.0%[90]. Revenue Breakdown - The design, surveying, and consulting business generated revenue of RMB 4.87 billion, up RMB 406 million or 9.10% from RMB 4.46 billion in 2022[9]. - The engineering contracting business reported revenue of RMB 5.50 billion, a decrease of RMB 477 million or 7.99% from RMB 5.97 billion in the previous year[10]. - Engineering contracting revenue was RMB 5,495,140 for 2023, down from RMB 5,971,865 in 2022, representing a decrease of approximately 7.93%[79]. - Revenue from external customers in China for the year was RMB 10,273,989, slightly down from RMB 10,387,381 in 2022, indicating a decrease of about 1.09%[75]. Expenses and Costs - The company's administrative expenses increased to RMB 979 million from RMB 878 million in the previous year, reflecting a rise of 11.49%[6]. - Selling and distribution expenses increased by RMB 4 million or 5.13% to RMB 82 million, driven by enhanced market expansion efforts[15]. - The sales cost for the year was RMB 84.75 billion, a decrease of RMB 1.26 billion from RMB 86.01 billion in 2022[11]. - Interest income decreased to RMB 406,049,000 in 2023 from RMB 440,847,000 in 2022, a decline of approximately 7.8%[84]. - The company's total financial expenses decreased to RMB 290,799,000 in 2023 from RMB 320,405,000 in 2022, a reduction of approximately 9.2%[84]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 24.85 billion, while total liabilities were RMB 17.22 billion[4]. - The asset-liability ratio stood at 69.30% as of December 31, 2023[23]. - The company's total liabilities were RMB 11,997,939 thousand, compared to RMB 10,896,141 thousand in the previous year, indicating an increase of 10.1%[56]. - The company's total assets as of December 31, 2023, were RMB 23,861,833, compared to RMB 21,684,811 in 2022, indicating an increase of about 10.04%[73]. - Trade payables increased to RMB 5,913,938,000 in 2023 from RMB 5,384,583,000 in 2022, an increase of approximately 9.8%[94]. Strategic Initiatives and Future Plans - The company aims to continue expanding its market presence and enhancing its service offerings in urban infrastructure projects[5]. - The company plans to focus on expanding design consulting, strengthening engineering contracting, and actively developing new businesses in 2024[27]. - The company is actively pursuing strategic partnerships and investments to enhance its business development and strengthen its technical quality system[31]. - The company plans to accelerate the development of new business areas, including digital products and industrialized interior products, while also expanding into energy storage and smart operation services[30]. - The company is focusing on expanding its presence in potential markets such as tourism rail, urban renewal, and ecological environment projects[30]. Market Environment and Industry Trends - The market environment for the surveying and mapping industry is improving, with a focus on digital transformation and smart surveying as key development directions[38]. - The planning and design market is expected to gradually recover in 2024, with various urban renewal and ecological development projects being implemented[41]. - The Ministry of Natural Resources has issued guidelines to strengthen detailed planning work, promoting urban renewal and comprehensive land development[42]. - The construction industry is expected to see a growth rate of 5.5% to 6.5% in total output for 2024[44]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[49]. - The company adopted revised International Financial Reporting Standards for the first time in the current financial year, which are expected to impact annual financial statement disclosures[59]. - The audit committee has reviewed the annual performance and consolidated financial statements prepared in accordance with international financial reporting standards[52].
城建设计(01599) - 2023 - 年度业绩