Financial Performance - For the year ended December 31, 2023, the total revenue was USD 22,471,495, a decrease of 23.6% compared to USD 29,410,713 in 2022[6] - Gross profit for the same period was USD 8,376,508, down 30.5% from USD 12,138,780 in 2022[6] - Operating profit significantly decreased to USD 7,036,968 from USD 75,186,985, reflecting a decline of 90.6%[6] - The net loss for the year was USD 14,168,867, compared to a profit of USD 57,112,673 in the previous year, marking a substantial turnaround[6] - Basic loss per share attributable to owners of the Company was USD (0.043), compared to earnings of USD 0.179 per share in 2022[6] - Total comprehensive loss for the year was $16,293,239, a stark contrast to the total comprehensive income of $49,614,359 in the previous year[21] - The company reported a loss of $14,168,867 for the year ended December 31, 2023, compared to a profit of $57,112,673 in 2022, indicating a significant decline in performance[21] - The segment results showed a total loss of USD (11,301,488) for the year, with significant losses in the Rapid verification systems and IC solutions segments[110] Assets and Liabilities - Total assets as of December 31, 2023, were USD 195,938,925, down from USD 247,235,256 in 2022, indicating a decrease of 20.7%[10] - Cash and cash equivalents decreased to USD 20,567,731 from USD 48,232,794, a decline of 57.3%[10] - Non-current assets decreased to USD 162,036,565 from USD 184,908,893, reflecting a reduction of 12.3%[10] - Current liabilities decreased to $7,385,371 in 2023 from $36,916,859 in 2022, reflecting a reduction in trade payables and contract liabilities[26] - Total liabilities dropped to $24,441,947 in 2023, down from $59,650,536 in 2022, indicating improved financial stability[26] - The company’s total equity and liabilities stood at $195,938,925 as of December 31, 2023, compared to $247,235,256 in 2022[26] Expenses and Income - The Company reported a significant reduction in research and development expenses to USD (11,230,204) from USD (38,114,876), a decrease of 70.5%[6] - Corporate and unallocated expenses for the year ended December 31, 2023, were USD (4,893,455), compared to USD (4,691,674) in 2022, indicating an increase in unallocated expenses[91] - The cost of sales, research and development expenses, selling and distribution expenses, and general and administrative expenses totaled USD 34,242,903, down from USD 68,570,890 in 2022, indicating a reduction of about 50%[117] - The company recognized other income and gains of USD 11,588,046 during the year, compared to USD 87,903,040 in 2022, reflecting a significant decrease[115] - The company reported other income of USD 6,878,347 from government grants for the year ended December 31, 2023, compared to USD 26,394,555 in the previous year[93] Market and Segment Performance - The company has identified four reportable segments: CAM, rapid verification systems and software, cloud services, and IC solutions, which are regularly reviewed by the chief operating decision maker[81] - For the year ended 31 December 2023, the Group recorded revenue of approximately USD 14.1 million from CAM, an increase of about 2.8% year-on-year, accounting for around 62.5% of the Group's total revenue[140] - The European market (excluding Russia) accounted for approximately 54.4% of total CAM sales, with revenue decreasing about 16.3% year-on-year[140] - The Mainland China market contributed approximately 34.9% of total CAM sales, representing an increase of around 132.9% year-on-year[140] - The Group's cloud service business, initiated in 2020, provides remote verification computing power services through centralized deployment of integrated circuit design verification tools[170] - The Group's revenue from emerging markets declined year-on-year, primarily due to reduced demand from Uzbekistan, Saxony, and African operators[166] - The Group's operations in emerging markets faced a decline in sales, particularly in Uzbekistan, Kazakhstan, and Africa, due to reduced demand[195] Future Outlook and Strategic Plans - The company plans to hold its 2024 Annual General Meeting on May 31, 2024, where it will discuss future strategies and performance outlook[29] - The company plans to continue focusing on market expansion and new product development to improve future performance[107] - The Group's engineering card sales in the domestic market are expected to further increase in 2024, focusing on localization projects by satellite retransmission operators[168] - A new network IP platform with a full-service solution is in progress and is expected to be implemented in the first batch of two major provincial broadcasters[198] Taxation and Financial Adjustments - The effective tax rate for Hong Kong profits tax remained at 16.5% for both 2023 and 2022[100] - The income tax expense changed from a tax expense of USD 10.1 million in 2022 to an income tax credit of USD 1.8 million in 2023, mainly due to over-provisioning in the previous year[187] - Current income tax for the year included an over-provision from the prior year amounting to USD (1,738,429) in 2023, compared to a provision of USD 5,264,948 in 2022[121] Shareholder Information - The proposed final dividend per share remained at HKD 0.01 (approximately USD 0.001) for both 2023 and 2022, with total dividends of USD 415,743 for 2023 compared to USD 409,099 for 2022[126] - The proposed final dividend for the year ended 31 December 2023 is HK$0.01 (approximately USD0.001) per share, totaling USD415,743[145] - The weighted average number of ordinary shares in issue increased to 322,751,966 in 2023 from 320,356,163 in 2022[123]
国微控股(02239) - 2023 - 年度业绩