Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately RMB 25.4 million, a decrease of about RMB 43.6 million or 63.1% compared to RMB 69.0 million for the year ended December 31, 2022[5]. - The loss for the year ended December 31, 2023, was approximately RMB 84.6 million, an increase of RMB 45.5 million compared to a loss of approximately RMB 39.2 million for the year ended December 31, 2022[6]. - Basic loss per share for the year ended December 31, 2023, was approximately RMB 0.47, compared to RMB 0.22 for the year ended December 31, 2022[6]. - The company recorded a net loss attributable to shareholders of RMB 84.6 million for the year, compared to RMB 39.2 million in the previous year[8]. - The group recorded a loss of RMB 84,647,000 for the year ended December 31, 2023, including an expected credit loss of RMB 62,955,000 on trade and other receivables[15]. - The company reported a pre-tax loss of RMB 77,785 thousand for 2023, compared to a loss of RMB 46,551 thousand in 2022, representing an increase in losses of approximately 67.1%[44][49]. Revenue Breakdown - For the year ending December 31, 2023, total revenue from customer contracts was RMB 25,424,000, a significant decrease from RMB 68,969,000 in 2022[30]. - Revenue from traditional offline media advertising services decreased to RMB 16,915,000 in 2023 from RMB 60,850,000 in 2022[30]. - Online media advertising services revenue increased to RMB 5,501,000 in 2023 from RMB 3,870,000 in 2022[30]. - The total operating revenue before agency fees for 2023 was RMB 35,504,000, down from RMB 91,623,000 in 2022[31]. - The company reported a total of RMB 11,976,000 from customers contributing over 10% of total revenue in 2023, compared to RMB 41,171,000 in 2022[34]. Assets and Liabilities - Total current assets decreased from RMB 122.7 million in 2022 to RMB 26.3 million in 2023[10]. - Trade receivables significantly dropped from RMB 105.0 million in 2022 to RMB 11.2 million in 2023[10]. - Current liabilities decreased from RMB 64.9 million in 2022 to RMB 40.6 million in 2023[10]. - The total equity attributable to the company's shareholders decreased from RMB 70.4 million in 2022 to a negative RMB 14.3 million in 2023[12]. - As of December 31, 2023, the group's net current liabilities were approximately RMB 14.3 million, down from a net current asset value of RMB 57.7 million in 2022, resulting in a liquidity ratio of 0.7 times[84]. Impairment and Expenses - The company incurred a significant impairment loss of RMB 62,955 thousand on trade and other receivables for 2023, compared to RMB 26,721 thousand in 2022, reflecting an increase of approximately 135.5%[44][52]. - Sales costs decreased to approximately RMB 21.3 million in 2023 from RMB 73.5 million in 2022, attributed to reduced media costs and improved cost control[72]. - Total employee costs decreased to RMB 10,021 thousand in 2023 from RMB 15,473 thousand in 2022, a reduction of about 35.0%[49]. - Administrative expenses decreased to approximately RMB 8.6 million in 2023 from RMB 10.9 million in 2022, primarily due to reduced auditor fees and consultancy costs[77]. Dividends and Financial Support - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[6]. - The company did not recommend any dividend payments for the year ended December 31, 2023, consistent with 2022[56]. - A major shareholder has committed to provide financial support of up to RMB 15,000,000 if necessary to ensure the group's continued operation for at least 15 months from the date of the financial statements[15]. Future Outlook and Strategic Plans - The company plans to consolidate its traditional media business while exploring new opportunities in social short videos and AIGC innovative technology resources[69]. - The company aims to expand into Web3, virtual digital assets, and metaverse technology applications to derive new business opportunities[75]. - The board believes that the group will have sufficient working capital to meet its financial obligations for at least the next 12 months from December 31, 2023[16]. Compliance and Governance - The financial statements are prepared using the historical cost basis and comply with Hong Kong Financial Reporting Standards[17]. - The independent auditor has confirmed that the figures in the preliminary announcement align with the audited consolidated financial statements for the year ending December 31, 2023[106]. - The audit committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors[103].
天泓文创(08500) - 2023 - 年度业绩