Financial Performance - The Group recorded revenue of approximately RMB90.5 million for the year ended 31 December 2022, representing a decrease of approximately 41.8% compared to RMB155.5 million for the year ended 31 December 2021[14]. - Loss attributable to owners of the Company increased from approximately RMB100.5 million in 2021 to approximately RMB140.5 million in 2022, representing an increase of approximately 39.8%[14]. - The Group's revenue decreased by 41.8% to approximately RMB90.5 million in 2022 compared to the previous year[22]. - Loss attributable to owners of the Company increased by 39.8% to approximately RMB140.5 million in 2022[22]. - The Group's revenue decreased from approximately RMB 155.5 million in 2021 to approximately RMB 90.5 million in 2022, representing a decline of about 41.8%[65]. - The export sales of footwear and apparel dropped from approximately RMB 125.6 million in 2021 to approximately RMB 66.8 million in 2022, a decrease of approximately 46.8%[51]. - The Group's cost of sales decreased by 45.3% from approximately RMB 151.9 million in 2021 to approximately RMB 83.1 million in 2022, aligning with the reduced turnover[53]. - Gross profit for 2022 was approximately RMB 7.4 million, with a gross profit margin of approximately 8.2%, compared to a gross profit of approximately RMB 3.6 million and a margin of 2.3% in 2021[53]. Sales and Revenue Breakdown - Revenue from sales of shoes, clothes, and others contributed approximately RMB66.8 million in 2022, down from RMB125.6 million in 2021[14]. - Revenue from fabric sales was approximately RMB23.7 million in 2022, compared to RMB29.9 million in 2021[14]. - Local sales of clothing products generated revenue of approximately RMB35.4 million during the year[35]. - The total revenue breakdown for 2022 showed that shoes, clothes, and others accounted for 73.8% of total revenue, while fabrics accounted for 26.2%[66]. Cost and Profit Margins - The gross profit margin improved to approximately 8.2% in 2022, up from approximately 2.3% in the previous year[14]. - The profit margin for local sales of clothing products was approximately 11.3%, while the profit margin for export sales was approximately 9.7%[25]. - The average selling price of fabric products decreased from approximately RMB5.4 per meter in 2021 to RMB5.2 per meter in 2022, a decrease of approximately 3.7%[34]. - The average cost of fabrics decreased from approximately RMB5.3 per meter in 2021 to approximately RMB5.0 per meter in 2022[24]. - The gross profit margin for shoes, clothes, and others improved to approximately 10.5% in 2022 from 2.2% in 2021[70]. Operational Developments - The Group established a subsidiary in Shishi City, Fujian province, PRC, to manufacture and sell clothing products to local customers starting in the second half of 2022[6]. - Management plans to boost local sales of clothing products in the PRC in 2023 to generate higher profit margins[6]. - The Group incorporated a new subsidiary in Shishi, Fujian, to manufacture and sell various clothing products starting in the second half of 2022[25]. - The company focused on recruiting more staff for a new clothing production line in Fujian, emphasizing competitive remuneration and training[193]. Financial Position and Cash Flow - The financial position of the Group is expected to improve by discharging all bond liabilities and accrued bond interests for the financial year ending 31 December 2023[12]. - Management will closely monitor the Group's financial performance, financial position, and cash flow to maintain normal operations[12]. - For the year ended December 31, 2022, net cash used in operating activities amounted to RMB 12.5 million, compared to RMB 0.3 million in 2021[81]. - Net cash generated from financing activities was approximately RMB 12.2 million in 2022, a significant increase from net cash used of approximately RMB 1.0 million in 2021, primarily due to reduced repayment of borrowings[81]. Share Capital and Corporate Governance - The Company completed a share consolidation, two subscriptions of new shares, and a placing of new shares during the year[104]. - The net proceeds from the 2022 First Share Subscription of approximately HK$2.42 million were intended for debt restructuring costs and general working capital[110]. - The company announced a share consolidation on January 13, 2022, consolidating every ten existing shares into one consolidated share, effective March 8, 2022[137]. - The 2022 First Share Subscription raised approximately HK$2.42 million, intended for debt restructuring costs and general working capital[141]. - The 2022 Second Share Subscription raised approximately HK$4.59 million, with net proceeds used for debt restructuring and general working capital[115][143]. - The 2022 Placing raised capital by issuing 15,055,354 shares at a price of HK$0.52 per share, enhancing the company's financial position[120][122]. - The company has adopted the Corporate Governance Code as its own code of corporate governance, ensuring compliance throughout the reporting period[170]. - The board of directors consists of two executive directors and three independent non-executive directors, maintaining at least one independent director with appropriate professional qualifications[181]. - The Company has adopted the corporate governance principles as set out in the CG Code and has complied with applicable code provisions throughout the year, except for code provision A.1.8[198]. Employee and Workforce Information - The company had a total workforce of 167 as of December 31, 2022, with total staff costs of approximately RMB10.7 million for the year[132]. - The total employee cost for the year ended December 31, 2022, was approximately RMB10.7 million, up from RMB4.9 million in 2021, reflecting an increase in workforce from 83 to 167 employees[165]. - The company is committed to providing competitive compensation plans and fostering a culture of learning and sharing among its employees[166]. Risk Management - The company has a low foreign exchange risk as most transactions are conducted in Renminbi, with limited exposure to USD transactions[187].
满地科技股份(01400) - 2022 - 年度业绩