Financial Performance - The Group's turnover for the year ended December 31, 2023, was approximately RMB 355.7 million, representing an increase of 18.1% compared to 2022[14]. - The gross profit margin was approximately 24.5%, while the net loss margin was approximately 5.2%[14]. - The Group recorded a loss attributable to owners of the Company of approximately RMB 23.9 million, an increase of 5.8% from a loss of approximately RMB 15.1 million in 2022[14]. - Revenue increased from RMB301.1 million in 2022 to RMB355.7 million in 2023, representing an 18.1% growth[33]. - CMS business revenue was RMB208.6 million (58.7% of total revenue) in 2023, up 7.0% from RMB195.0 million (64.8% of total revenue) in 2022[29]. - OBM business revenue surged by 38.6% to RMB147.0 million (41.3% of total revenue) in 2023, compared to RMB106.1 million (35.2% of total revenue) in 2022[29]. - Gross profit margin slightly decreased from approximately 24.9% in 2022 to approximately 24.5% in 2023, primarily due to decreased margins from cosplay wigs and costumes[84]. - Cost of sales increased by approximately RMB42.6 million, from approximately RMB226.0 million in 2022 to approximately RMB268.6 million in 2023[85]. - Other income decreased by approximately RMB4.5 million, from approximately RMB21.6 million in 2022 to approximately RMB17.1 million in 2023[91]. Business Strategy and Expansion - The Group plans to diversify its business and broaden revenue streams by acquiring intellectual property rights and collaborating with companies in upstream and downstream industries[20]. - The Group aims to identify target companies with investment value that can generate synergies within the industry[20]. - The Group has expanded into sub-leasing business and acquired Zhejiang Kelee, which focuses on fabric care and personal hygiene products[13]. - The company established a "Party Culture Industrial Park" in Yiwu to enhance production efficiency and collaboration with upstream and downstream companies[34]. - The Group plans to enhance research and development capabilities and expand its OBM business in the PRC market as part of its growth strategy[55]. Customer and Market Insights - Over 75% of revenue was generated from sales to overseas customers across more than 10 countries in 2023[45]. - Approximately 64% of total revenue was derived from a single customer, indicating a high customer concentration risk[45]. - The Group's products are exported to over 10 countries, including the U.S., Germany, the UK, Japan, and Australia[12]. - The Group maintains long-term relationships with customers from over 20 countries, with the top five customers averaging over seven years of business relationships[73]. - The Group's business is influenced by trends in popular anime characters, which can affect market demand and revenue from related products[51]. Financial Position and Risks - The Group maintained a healthy financial position with net current assets of RMB 92.5 million and a net cash position at the financial year-end[14]. - The Group's profitability may be adversely affected by fluctuations in the exchange rate between the Chinese Yuan and the US Dollar, impacting reported costs and earnings[50]. - The Group's intangible assets, including trademarks and patents, are at risk of impairment if financial results do not align with their valuation, potentially affecting business and financial conditions[52]. - The Group faces uncertainties regarding joint venture partners, which may impact financial conditions and operational results[53]. Governance and Compliance - The Company has fully complied with the corporate governance code as of December 31, 2023[157]. - The Board consists of five Directors, including two Executive Directors and three Independent Non-executive Directors, ensuring a balanced governance structure[163]. - The Independent Non-executive Directors represent one-third of the Board, meeting the Listing Rules requirements[170]. - The Company has established a robust internal control system to ensure effective oversight and decision-making[157]. - The Company emphasizes high standards of business ethics and corporate governance across all activities[159]. Employee and Diversity Initiatives - The Group had approximately 671 employees as of December 31, 2023, with total staff costs amounting to approximately RMB 85.5 million, up from RMB 77.5 million in 2022[128]. - As of December 31, 2023, 64% of the Company's workforce is female, reflecting a commitment to gender diversity[198]. - The board consists of five directors, with one female member, reflecting the company's efforts towards board diversity[199]. - The Company is committed to employee development, workplace safety, and sustainable growth strategies[160]. - The board diversity policy emphasizes the importance of skills, experience, and diverse viewpoints in board appointments[199].
中国派对文化(01532) - 2023 - 年度财报