GIT(SZ:300465)2024-04-08 16:00Financial Performance - The company's operating revenue for 2023 was CNY 1,404,289,718.80, a decrease of 2.52% compared to CNY 1,440,594,872.87 in 2022[18]. - The net profit attributable to shareholders was CNY 28,712,464.09, representing a significant increase of 138.28% from a loss of CNY 75,008,049.60 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 24,678,600.95, up 154.78% from a loss of CNY 45,048,420.65 in 2022[18]. - The cash flow from operating activities showed a net inflow of CNY 91,761,246.74, a turnaround from a negative cash flow of CNY 103,017,538.75 in the previous year, marking a 189.07% improvement[18]. - Basic earnings per share increased to CNY 0.06 from a loss of CNY 0.17, reflecting a 135.29% improvement[18]. - Total assets at the end of 2023 were CNY 1,358,828,935.45, a decrease of 1.45% from CNY 1,378,775,639.86 at the end of 2022[18]. - The net assets attributable to shareholders increased by 4.61% to CNY 645,912,663.11 from CNY 617,457,896.11 in 2022[18]. - The company reported a quarterly revenue of CNY 518,851,777.21 in Q4 2023, which was the highest among the four quarters[20]. Revenue Breakdown - In 2023, the company's main business revenue from financial technology was 1.404 billion CNY, a year-on-year decrease of 2.52%[39]. - Software business revenue reached 1.142 billion CNY in 2023, marking a year-on-year growth of 22.17%[40]. - The system integration business generated 261 million CNY in revenue, down 45.39% year-on-year due to increased direct procurement by financial institutions[40]. - The revenue from the banking financial sector was ¥1,134,093,526.65, accounting for 80.76% of total revenue, down 5.98% from ¥1,206,255,054.91 in 2022[50]. - The non-banking financial sector revenue increased by 24.44% to ¥212,080,481.13, compared to ¥170,432,084.92 in 2022[50]. Cost Management - The company reduced its R&D expenses by ¥34,189,500, leading to a recovery in net profit[49]. - The total cost of goods sold decreased by 48.63% for external purchase costs, indicating a strategic shift in cost management[58]. - The company reported a significant reduction in external purchase costs for system integration services, down 45.52% year-over-year[57]. Operational Efficiency - The company aims to enhance operational efficiency through improved internal controls and performance evaluation systems[41]. - The net cash flow from operating activities increased by 189.07% compared to the same period last year, primarily due to improved operational efficiency and enhanced cash turnover in the software business[73]. - The company aims to maintain stable growth in software business while improving operational efficiency and project gross margin[85]. Governance and Management - The company is committed to enhancing its governance structure and internal control systems[89]. - The company has a diverse board of directors, including independent directors with backgrounds in law and finance, enhancing governance and oversight[98][99]. - The company has been expanding its management team, with several executives holding dual roles in other companies, indicating a broad network and potential for strategic partnerships[104][105]. - The company has not faced any penalties from regulatory bodies regarding internal control issues in 2023[89]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the year[4]. - The company has not proposed any cash dividends, stock dividends, or capital reserve transfers for the fiscal year 2023 due to negative distributable profits[124]. - The company maintains a profit distribution policy that emphasizes reasonable returns to investors, with a minimum cash dividend of 15% of distributable profits when conditions allow[121]. Research and Development - The number of R&D personnel decreased to 255 in 2023, down 37.50% from 408 in 2022[68]. - R&D investment amounted to ¥65,369,660.07 in 2023, representing 4.65% of operating revenue[68]. - The company has shifted key technical personnel from R&D to implementation to secure orders, leading to a planned reduction in R&D investment[69]. Market and Industry Trends - The Chinese banking IT solutions market is projected to reach 139.011 billion CNY by 2026, with a compound annual growth rate of 23.55% from 2022 to 2026[30]. - The integration of investment research and management systems is becoming a mainstream trend in the asset management industry[64]. Compliance and Legal Matters - The company has not reported any significant new product developments or technological advancements in the provided documents[94]. - There were no significant lawsuits or arbitration matters reported during the year[146]. - The company has not engaged in any major related party transactions during the reporting period[148].