Financial Performance - The total revenue for the year ended December 31, 2023, was approximately RMB 1,530.9 million, an increase of about 11.1% compared to RMB 1,378.1 million for the year ended December 31, 2022[3]. - Gross profit for the year ended December 31, 2023, was approximately RMB 89.1 million, up approximately 13.0% from RMB 78.9 million in the previous year[3]. - Net profit for the year ended December 31, 2023, was approximately RMB 31.8 million, representing a significant increase of about 25.6% from RMB 25.3 million for the year ended December 31, 2022[3]. - Operating profit for the year ended December 31, 2023, was approximately RMB 47.8 million, compared to RMB 38.6 million in the previous year[6]. - Basic and diluted earnings per share for the year ended December 31, 2023, were RMB 8.24, an increase from RMB 6.56 in the previous year[6]. - The company reported a significant increase in financing income to RMB 912,000 from RMB 148,000 in the previous year[6]. - Total expenses for the year ended December 31, 2023, amounted to RMB 1,482,983,000, up from RMB 1,338,199,000 in 2022, reflecting a year-on-year increase of 10.8%[31]. - Income tax expense for the year ended December 31, 2023, was RMB 14,722,000, compared to RMB 12,937,000 in 2022, representing a 13.8% increase[33]. - The company recorded a net profit of approximately RMB 31.8 million for the year ended December 31, 2023, representing an increase of about 25.6% from RMB 25.3 million for the year ended December 31, 2022[67]. Assets and Liabilities - The net asset value as of December 31, 2023, was approximately RMB 372.4 million, an increase of about 13.9% from RMB 327.1 million as of December 31, 2022[3]. - Total assets as of December 31, 2023, amounted to approximately RMB 1,682.7 million, compared to RMB 1,509.2 million as of December 31, 2022[8]. - Total liabilities as of December 31, 2023, were approximately RMB 1,310.3 million, an increase from RMB 1,182.1 million in the previous year[11]. - Trade receivables decreased to RMB 137,270,000 in 2023 from RMB 187,374,000 in 2022, a decline of 26.7%[39]. - Trade payables increased to RMB 1,203,236,000 in 2023 from RMB 1,091,566,000 in 2022, reflecting a rise of 10.2%[42]. - The company had bank borrowings of approximately RMB 29.3 million as of December 31, 2023, compared to none in 2022[69]. - The debt-to-equity ratio as of December 31, 2023, was approximately 7.9%, up from zero on December 31, 2022[70][71]. Revenue Breakdown - Revenue from construction services for the year ended December 31, 2023, was RMB 1,530,919,000, an increase of 11.1% from RMB 1,378,055,000 in 2022[29]. - Revenue from construction projects rose from RMB 763.3 million in 2022 to RMB 985.5 million in 2023, an increase of RMB 222.2 million or 29.1%[52]. - Revenue from municipal public works projects decreased by RMB 60.2 million or 14.9% from RMB 403.8 million in 2022 to RMB 343.6 million in 2023[53]. - Revenue from foundation engineering projects surged by RMB 52.5 million or 98.0% from RMB 53.6 million in 2022 to RMB 106.1 million in 2023[54]. - Revenue from specialized contracting projects fell by RMB 61.6 million or 39.2% from RMB 157.3 million in 2022 to RMB 95.7 million in 2023[56]. Costs and Expenses - Total cost of revenue increased by approximately RMB 142.6 million or 11.0% from RMB 1,299.1 million in 2022 to RMB 1,441.8 million in 2023[58]. - Gross profit for the year 2023 was RMB 89.1 million, with a gross margin of 5.8%, compared to RMB 78.9 million and a gross margin of 5.7% in 2022[60]. - Administrative expenses increased by approximately RMB 2.1 million or 5.5% due to higher listing and professional fees[63]. - Financing costs increased primarily due to higher factoring interest expenses[65]. - The total employee cost for the year ended December 31, 2023, was approximately RMB 20.5 million, a decrease from RMB 22.2 million in 2022[77]. Dividends and Shareholder Information - The company did not recommend the payment of any final dividend for the year ended December 31, 2023[4]. - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the stock exchange and the company's website in accordance with listing rules[93]. Future Outlook and Plans - The construction market in Guangdong Province is expected to continue growing at a compound annual growth rate of approximately 8.3%, reaching about RMB 342.61 billion by 2027[79]. - The company plans to utilize the net proceeds from its IPO, which is expected to be received after December 31, 2023, for business strategies outlined in the prospectus[80]. Auditor and Governance - The company's auditor, PwC, confirmed that the preliminary announcement figures for the year ending December 31, 2023, are consistent with the audited financial statements[92]. - The board of directors includes executive directors Mr. Sang Xianfeng and Mr. Xian Yuwang, as well as independent non-executive directors Ms. Liu Zhihong, Mr. Zeng Qingli, and Mr. Xie Huagang[94].
中深建业(02503) - 2023 - 年度业绩