Financial Performance - The net loss attributable to owners of the Company for FY2023 was approximately RMB59.6 million, a decrease of approximately 3.7% compared to a net loss of RMB61.9 million for FY2022[8]. - Basic loss per share for FY2023 was approximately RMB38.7 cents, representing a decrease of approximately 11.4% from RMB43.7 cents per share for FY2022[8]. - Gross profit decreased by approximately RMB5.2 million or 19.3%, from approximately RMB26.8 million for FY2022 to approximately RMB21.6 million for FY2023[25]. - The Group's revenue decreased by approximately RMB 13.8 million or 19.1% from about RMB 72.3 million in FY2022 to approximately RMB 58.5 million in FY2023, primarily due to a decline in demand for marble slabs[53]. - For FY2023, the Group recorded revenue of approximately RMB58.5 million, a decrease of approximately 19.1% compared to FY2022's revenue of RMB72.3 million[191]. - The gross profit for FY2023 was approximately RMB21.6 million, representing a decrease of approximately 19.3% from FY2022's gross profit of RMB26.8 million[191]. Operational Highlights - The total marble resources at the Zhangjiaba Mine were reported at 32.14 million cubic meters for FY2023, down from 34.47 million cubic meters in FY2022[7]. - The total marble reserves for FY2023 were reported at 11.45 million cubic meters, a decrease from 12.29 million cubic meters in FY2022[7]. - The renewed mining permit for Zhangjiaba Mine is valid from February 21, 2021, to February 21, 2026[158]. - The Group has the largest beige marble mine in China, located in Sichuan Province, based on certification from the China Stone Material Association[158]. - The Group aims to maintain stable growth in the mining business in China while focusing on overseas expansion as a growth driver[160]. Business Development - The Company has entered into a memorandum of understanding to develop gold mining opportunities in Chile, capitalizing on the upward trend in gold demand[12]. - The Group commenced a food service business in the UK in December 2021, operating a delivery-only model with a central kitchen for meal kits[180]. - The Group's e-commerce operations include an online platform (www.celeplate.co.uk) for consumers and sales to retailers as distribution channels[180]. - The Group has launched a new distribution channel for ready-to-cook meal kits, selling products to retail stores and supermarkets since 2023[195]. - The Company is expanding its mining operations into Chile, capitalizing on the rising demand for gold amid geopolitical tensions and economic concerns[196]. Employee and Governance - The Group employed a total of 36 employees as of December 31, 2023, down from 38 employees in the previous year[33]. - Total staff costs for FY2023 were approximately RMB8.1 million, an increase of 33% from RMB6.1 million in FY2022[33]. - The Group's emolument policies are based on individual performance and salary trends in Hong Kong and the PRC, with discretionary bonuses subject to profitability[33]. - The Board has not identified any significant non-compliance with laws and regulations impacting the Group's operations during FY2023[33]. - The Board has yet to appoint a Chairman, with independent members temporarily fulfilling this role to ensure effective governance[45]. Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Code for FY2023, except for deviations from provisions C.2.1, C.1.8, and F.2.2[76]. - The Company believes that the risk of legal claims against directors is relatively low due to existing internal controls[79]. - The Company currently does not have insurance cover for legal actions against Directors, believing the risk is relatively low[47]. - The Company is committed to high standards of corporate governance to protect shareholder interests and enhance shareholder value[77]. - The Board ensures the appointment of at least three independent non-executive directors (INEDs), with at least one-third of its members being INEDs[174]. Market Conditions - The property sector in China continues to face a liquidity crisis, impacting overall economic recovery and investor confidence[200]. - The Chinese government has implemented support measures to alleviate cash flow pressures, which are expected to gradually improve market confidence[194]. - The Company anticipates that China's economic growth momentum will stabilize and gradually improve as government support measures take effect in 2024[194]. Impairment and Receivables - The Group recorded an impairment loss of RMB 9.6 million on trade receivables for FY2023, a decrease of RMB 28.3 million compared to RMB 37.9 million in FY2022[56]. - The Group has made a full provision for impairment of outstanding trade receivables overdue for more than two years according to its accounting policies[56]. - The impairment loss for trade receivables was primarily due to delayed payments from marble slab customers affected by financial difficulties[152]. - The Group's customers have repaid overdue debts amounting to approximately RMB 3,600,000 during FY2023[152]. Sales and Marketing - The virtual restaurant business saw a sales increase of approximately 204.6% compared to FY2022, indicating significant growth potential[19]. - Sales of marble slabs dropped from approximately RMB 71.6 million in FY2022 to about RMB 56.3 million in FY2023, a decrease of approximately RMB 15.3 million[53]. - In FY2023, sales of marble slags decreased by approximately 21.4% from RMB 71.6 million in FY2022 to 56.3 million due to subdued demand and weak consumption[192][194]. - The gross profit margin for the marble slags business slightly increased from approximately 37.4% in FY2022 to approximately 37.5% in FY2023[194]. - Sales volume of marble slags decreased from 2.8 million tons in FY2022 to 2.2 million tons in FY2023, a decline of 21.4%[200].
中国金石(01380) - 2023 - 年度财报