Financial Performance - The total operating revenue for 2023 reached RMB 85.60 billion, an increase of 15.5% compared to RMB 74.12 billion in 2022[7] - The total operating costs for 2023 were RMB 81.46 billion, up from RMB 71.26 billion in 2022, reflecting a growth of 14.3%[7] - The net profit attributable to the parent company for 2023 was RMB 3.05 billion, compared to RMB 2.83 billion in 2022, representing a year-on-year increase of 7.8%[7] - The total operating profit increased to RMB 5,248,016,394.49, up from RMB 3,367,104,322.41, representing a growth of approximately 55.7%[8] - The net profit attributable to shareholders of the parent company rose to RMB 2,837,322,754.58, compared to RMB 1,434,968,215.84, marking an increase of about 97.7%[8] - The total comprehensive income attributable to the parent company's owners reached RMB 2,943,053,128.82, up from RMB 1,462,665,662.77, reflecting a growth of approximately 101.5%[9] - The total profit amounted to RMB 5,684,557,420.82, an increase from RMB 3,823,809,728.21, which is a growth of around 48.6%[8] - The net profit for the year was RMB 5,684,557,420.82, compared to RMB 3,823,809,728.21 in 2022, reflecting a significant increase of 48.7%[20] - The net profit excluding non-recurring gains and losses for 2023 was approximately RMB 2.36 billion, up 160.07% from RMB 905.5 million in 2022[89] Assets and Liabilities - The total assets of the company as of December 31, 2023, amounted to RMB 65.95 billion, a growth of 19.2% from RMB 55.38 billion at the beginning of the year[6] - The total liabilities increased to RMB 46.55 billion, up 19.0% from RMB 39.10 billion in 2022[6] - The total assets amounted to RMB 65,946,495,555.67, compared to RMB 55,375,868,443.33 in the previous year, indicating a growth of 19.5%[20] - Total liabilities were RMB 46,550,436,429.03, up from RMB 39,096,785,837.42, representing an increase of 19.0%[20] - The asset-liability ratio as of December 31, 2023, was 70.59%, slightly down from 70.60% in 2022[116] Cash Flow and Investments - The company's cash and cash equivalents decreased to RMB 4.94 billion from RMB 6.00 billion, a decline of 17.7%[3] - The net cash flow from operating activities for 2023 improved significantly by 163.2%, reaching approximately RMB 10.61 billion compared to RMB 4.03 billion in 2022[89] - The company's operating cash flow net amount increased by 163.17% year-on-year, reaching RMB 10.61 billion[100] - The group's capital expenditure for the year ended December 31, 2023, was RMB 985.12 million, sufficient to meet capital expenditure plans and operational needs[115] Research and Development - Research and development expenses for 2023 were RMB 2.78 billion, an increase of 21.4% from RMB 2.29 billion in 2022[7] - The company will continue to invest in R&D, with R&D expenses rising by 21.41% to RMB 2.78 billion[98] Market Performance - Domestic revenue was RMB 49,035,166,343.99, up from RMB 42,624,208,014.02, reflecting a growth of 15.5%[21] - Overseas revenue increased to RMB 27,924,024,928.43 from RMB 24,870,531,178.68, marking a growth of 8.2%[21] - The central air conditioning market in China grew by 4.6% in 2023, with centrifugal and two-link supply products performing exceptionally well, while multi-link machines maintained a market share of 48.7%[45] - The domestic air conditioning market retail volume increased by 6.5% in 2023, with retail sales rising by 7.5%, driven by consumer demand for upgraded products[46] - The refrigerator market saw a retail volume growth of 1.5% and a retail value increase of 7.0% in 2023, with a notable shift towards high-end and embedded products[48] - The washing machine market experienced a retail volume growth of 3.4% and a retail value increase of 5.8% in 2023, supported by the popularity of dryer machines and the trend of home integration[49] - The kitchen appliance market recorded a retail volume growth of 0.8% and a retail value increase of 5.3% in 2023, with essential categories like range hoods and water heaters rebounding significantly[50] Strategic Initiatives - The company plans to expand its market presence and invest in new product development to drive future growth[7] - The company aims to strengthen its global operational model and expand overseas markets, focusing on five major regional centers[108] - The company is committed to building a dual-track supply chain to improve long-term cost reduction capabilities[109] - The company is actively expanding new channels, with a 151% year-on-year growth in new channel sales through platforms like Douyin and Kuaishou[67] Corporate Governance and Risks - The company has adhered to the corporate governance code as per the Hong Kong Listing Rules during the reporting period[121] - The company faces risks from macroeconomic fluctuations that may impact consumer demand for home appliances[110] - The company is facing certain foreign exchange risks due to procurement and export transactions settled in foreign currencies, and it has employed financial instruments to hedge these risks[113] Shareholder Information - The board proposed a cash dividend of RMB 10.13 per 10 shares, totaling approximately RMB 1,391,284,501.87, subject to shareholder approval at the 2023 annual general meeting[112] - The company repurchased 11,699,989 A-shares from January 16 to March 16, 2023, for a total amount of RMB 211,401,111.66[119] - The 2024 A-share repurchase plan allows for a maximum repurchase price of RMB 27.00 per share, with a total repurchase fund of not less than RMB 1.8787 billion and not more than RMB 3.7573 billion[123]
海信家电(00921) - 2023 - 年度业绩