Financial Performance - The turnover for the year ended December 31, 2023, was RMB 105,309,000, representing an increase of 36.6% compared to RMB 77,090,000 in 2022[5]. - The gross loss for 2023 was RMB 22,531,000, a slight improvement from a gross loss of RMB 25,606,000 in 2022[5]. - Loss before taxation decreased to RMB 166,001,000 in 2023 from RMB 220,939,000 in 2022, indicating a reduction of 25%[5]. - The net loss for the year attributable to owners of the Company was RMB 132,383,000, down from RMB 184,415,000 in 2022, reflecting a 28.3% improvement[6]. - Total comprehensive expense for the year was RMB 175,821,000, compared to RMB 247,010,000 in 2022, marking a decrease of 29.0%[6]. - The Company reported a basic and diluted loss per share of RMB 12.12, improved from RMB 18.1 in the previous year[6]. - The Group recorded a net loss of approximately RMB 164,624,000 for the year ended 31 December 2023[15]. - The net loss for the year ended 31 December 2023 was approximately RMB 164.6 million, a decrease from a net loss of RMB 214.3 million in 2022[131]. Assets and Liabilities - Non-current assets decreased significantly to RMB 22,654,000 in 2023 from RMB 71,427,000 in 2022, a decline of 68.3%[8]. - Current liabilities increased to RMB 814,778,000 in 2023, up from RMB 686,573,000 in 2022, representing an increase of 18.6%[8]. - The capital deficiency as of December 31, 2023, was RMB 690,703,000, worsening from RMB 520,226,000 in 2022[10]. - As of 31 December 2023, the Group was in a net liabilities position of approximately RMB 690,703,000, with current liabilities exceeding current assets by approximately RMB 710,495,000[15]. - The Group's total assets were approximately RMB 126.9 million, financed by current liabilities of approximately RMB 814.8 million[197]. - The current ratio was approximately 0.1, and the gearing ratio was 280% as of 31 December 2023[199]. Cash Flow and Liquidity - The Company had bank balances and cash of RMB 13,918,000, significantly up from RMB 3,554,000 in 2022, indicating improved liquidity[8]. - A potential investor has committed to provide continuing financial support to the Group to meet its financial obligations[23]. - The directors believe that the Group will be able to finance its operations and meet its financial obligations within the forecast period based on cash flow projections[19]. - The Group's cash and bank balances increased to approximately RMB 13.9 million as of 31 December 2023, up from RMB 3.6 million in 2022[198]. Revenue Breakdown - The Group's revenue for 2023 was RMB 105,309,000, an increase from RMB 74,744,000 in 2022, representing a growth of approximately 40.9%[42]. - Revenue from the Fabrics and Trading Business increased from approximately RMB 38.3 million in 2022 to RMB 78.4 million in 2023, driven by the expansion of online platform trading activities[128]. - Total revenue from external customers reached RMB 105,309,000, with significant contributions from processing and printing of finished fabrics (RMB 27,931,000) and trading of fabrics and clothing (RMB 50,433,000)[51]. - Revenue from the media, cultural, and entertainment business decreased from approximately RMB 35.1 million in 2022 to RMB 26.9 million in 2023 due to reduced sponsorship and broadcasting income[129]. Segment Performance - The reportable segment loss (adjusted EBITDA) amounted to RMB (68,664,000), with the largest loss from the money lending segment at RMB (37,524,000)[51]. - The reportable segment loss for the media business decreased from RMB 39.6 million in 2022 to RMB 37.5 million in 2023 due to stringent cost control measures[166]. - The loss from the reportable segment of the Fabrics and Trading Business rose to approximately RMB 18.4 million in 2023 from about RMB 2 million in 2022, attributed to higher direct costs[133]. Impairment and Asset Management - Impairment losses on intangible assets totaled RMB 8,251,000, indicating challenges in asset valuation[51]. - The impairment loss recognized for the Group's interest in Million Federal was RMB 2,332,000 in 2023, with no impairment loss recognized in 2022[87]. - Impairment losses recognized on property, plant, and equipment, right-of-use assets, and intangible assets amounted to approximately RMB 3.49 million, RMB 15.64 million, and RMB 8.25 million respectively[178]. Corporate Governance and Future Outlook - The Group's financial statements have been prepared on a going concern basis, with reasonable expectations of adequate resources for operational existence[21]. - The Group aims to enhance corporate transparency and governance while optimizing business operations to enrich shareholder value despite facing headwinds[181]. - The Directors anticipate that the Group will generate positive cash flows from its operations in the foreseeable future[196]. - The Group plans to diversify its media revenue streams by venturing into short video production to capitalize on growing demand for video content[167].
亚洲电视控股(00707) - 2023 - 年度业绩