Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue increased to RMB 527.3 million, representing a growth of 13.9% compared to RMB 462.9 million in 2022[2] - The gross profit for the same period rose to RMB 353.1 million, reflecting a 15.8% increase from RMB 305.0 million in the previous year[2] - The profit attributable to the company's owners was RMB 80.1 million, marking a 10.9% increase from RMB 72.2 million in 2022[2] - Basic and diluted earnings per share for the year were RMB 1.26, up from RMB 1.15 in the prior year, indicating a growth of 9.6%[2] - The net profit before tax for the year was RMB 92.3 million, an increase of 8.1% from RMB 85.4 million in 2022[3] - In the fiscal year 2023, the company achieved a revenue of RMB 527.3 million and a net profit of RMB 78.5 million, representing growth of 13.9% and 11.4% respectively compared to fiscal year 2022[54] Assets and Liabilities - The total assets of the company as of December 31, 2023, amounted to RMB 1,627.98 million, an increase from RMB 1,410.90 million in 2022[4] - The company's inventory increased to RMB 841.4 million, up from RMB 783.7 million in the previous year, indicating a growth of 7.4%[4] - The total equity attributable to the company's owners rose to RMB 1,008.4 million, compared to RMB 794.2 million in 2022, reflecting a growth of 26.9%[4] - As of December 31, 2023, the company's total borrowings amounted to RMB 250.5 million, an increase from RMB 211.2 million in 2022[47] - Trade receivables increased to RMB 62,953,000 in 2023 from RMB 23,331,000 in 2022, representing a growth of 169.5%[33] - Deferred income increased to RMB 10.5 million in 2023 from RMB 9.1 million in 2022, primarily due to government subsidies received[45] Expenses - The cost of raw materials for the year ended December 31, 2023, was RMB 82,654,000, up from RMB 66,275,000 in 2022, representing a 24.8% increase[21] - Employee benefits expenses rose to RMB 106,991,000 in 2023 from RMB 103,104,000 in 2022, a growth of 2.8%[21] - Sales expenses increased by RMB 25.9 million to RMB 162.3 million in fiscal year 2023, attributed to higher sales volume and increased marketing expenses[69] - Administrative expenses rose by RMB 10.6 million to RMB 88.9 million in fiscal year 2023, reflecting increased listing costs and audit fees[70] Dividends and Share Capital - The company proposed a final dividend of RMB 0.37 per share for the fiscal year 2023[2] - The proposed final dividend for 2023 is RMB 0.37 per share, significantly higher than RMB 0.10 per share in 2022, resulting in a total cash dividend amount of RMB 31,080,000 compared to RMB 6,300,000 in 2022[30] - The company's issued share capital increased to 84,000,000 shares as of December 31, 2023, from 63,000,000 shares at the beginning of 2022, reflecting a growth of 33.3%[41] Market and Sales Performance - Revenue from tea product sales for the year ended December 31, 2023, was RMB 495,584,000, an increase of 15.5% from RMB 429,002,000 in 2022[18] - The 1966 product line generated revenue of RMB 363.4 million in fiscal year 2023, marking a 20.6% increase from fiscal year 2022[55] - The combined revenue from the Tea Mama and Yan Leng product lines reached RMB 148.2 million in fiscal year 2023, reflecting a growth of 2.6% compared to fiscal year 2022[56] - Online sales contributed 12.3% to total revenue in fiscal year 2023, which is a 19.2% increase from the previous year[59] - Sales to distributors amounted to RMB 379.3 million, direct sales to consumers were RMB 121.7 million, and sales to large customer channels reached RMB 26.4 million, with respective growth rates of 13.2%, 4.6%, and 128.8%[58] Corporate Governance and Compliance - The audit committee reviewed the consolidated financial statements for the fiscal year 2023 and confirmed compliance with relevant accounting standards[104] - The board of directors consists of six executive directors and three independent non-executive directors[106] - There were no significant acquisitions or disposals of major investments, subsidiaries, or joint ventures as of December 31, 2023[89] Future Outlook and Strategy - The company expects that 100% of the contract liabilities balance as of December 31, 2023, will be recognized as revenue in the next fiscal year[20] - The company plans to leverage the funds raised from its H-share listing to enhance brand strength and optimize its marketing network[52] - The company aims to optimize its sales network and expand both online and offline channels to increase market share and customer engagement[63] - The company plans to enhance brand visibility and market presence through differentiated strategies and integrated online and offline promotional activities targeting younger consumers[61]
澜沧古茶(06911) - 2023 - 年度业绩