Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 120,205,000, representing a 15.8% increase from RMB 103,767,000 in 2022[7] - Gross profit for 2023 was RMB 55,145,000, up 14.8% from RMB 48,052,000 in the previous year, with a gross margin of 45.9%[7] - The company reported a net loss of RMB 47,313,000 for 2023, compared to a net loss of RMB 14,125,000 in 2022, resulting in a net loss margin of 39.4%[7] - The group’s revenue for the year ended December 31, 2023, was approximately RMB 120.2 million, an increase of about RMB 16.4 million or 15.8% compared to RMB 103.8 million for the year ended December 31, 2022[16] - Revenue from software development services surged by approximately 83.9% to about RMB 51.0 million for the year ended December 31, 2023, from approximately RMB 27.7 million for the year ended December 31, 2022[18] - The company recorded a loss attributable to owners of approximately RMB 47.2 million for the year ended December 31, 2023, compared to a loss of approximately RMB 11.9 million for the year ended December 31, 2022[26] - The company reported a pre-tax loss of RMB 47,954,000 for 2023, significantly higher than the pre-tax loss of RMB 15,013,000 in 2022[143] - The annual loss attributable to the parent company was RMB 47,155,000, compared to RMB 11,929,000 in the previous year, indicating a substantial increase in losses[143] Cash Flow and Assets - Cash and cash equivalents decreased by 28.5% to RMB 122,620,000 from RMB 171,366,000 in 2022[8] - Total assets decreased by 12.0% to RMB 289,857,000 from RMB 329,372,000 in the previous year[8] - Current assets decreased from approximately RMB 275.2 million to RMB 209.0 million, with cash and cash equivalents at approximately RMB 122.6 million as of December 31, 2023[27] - The current ratio decreased from 8.2 to 5.4, while the debt-to-equity ratio increased from 3.5% to 4.1%[27] - The company’s cash and cash equivalents decreased to RMB 122,620,000 from RMB 171,366,000, a decrease of 28.4% year-over-year[144] - The total equity attributable to the parent company decreased to RMB 235,933,000 from RMB 283,088,000, a decline of 16.7% year-over-year[145] Expenses and Costs - Selling and distribution expenses increased by approximately 105.6% from RMB 14.2 million to RMB 29.2 million, driven by increased marketing efforts in post-COVID-19 China[23] - R&D costs rose by approximately 6.3% from RMB 36.6 million to RMB 38.9 million, mainly due to an increase in personnel related to 5G and AI research teams[24] - Administrative expenses increased by approximately 78.2% from RMB 24.3 million to RMB 43.3 million, reflecting the need for further business development in the CBDC network system[25] - The company incurred administrative expenses of RMB 43,304,000 in 2023, compared to RMB 24,310,000 in 2022, indicating increased operational costs[143] Strategic Initiatives - The company is actively developing multiple Central Bank Digital Currency (CBDC) product modules and has acquired several software copyrights to support this initiative[10] - The company is establishing partnerships with local ministries of finance, central banks, and commercial banks in various regions and countries to support CBDC project implementation[10] - The company aims to align its business objectives with China's GDP growth target of 5% for 2024, as outlined in the government work report[6] - The company plans to invest in upgrading digital technologies, including CBDC, big data, and AI, to expand all existing business segments[32] - The company plans to invest approximately RMB 100.6 million in big data and AI technology to expand its existing APM business[33] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all code provisions for the year ending December 31, 2023[87] - The board consists of one executive director, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[90] - The company has confirmed that all independent non-executive directors meet the independence criteria as per the listing rules, ensuring proper governance oversight[97] - The company has established a code of conduct for securities trading by directors, ensuring adherence to ethical standards[89] Employee and Workforce - The company reported employee costs of approximately RMB 88.4 million for the year ending December 31, 2023, compared to RMB 69.1 million in 2022[40] - The company has 305 employees as of December 31, 2023, an increase from 299 employees in 2022[40] - The employee gender ratio is approximately 2:8, with efforts to attract a diverse workforce and promote gender diversity culture[113] Market and Customer Relations - The company is expanding its business to China's second and third largest telecom groups and promoting its new SaaS cloud platform products to diversify its customer base[42] - The company is actively promoting its products to other telecommunications and broadcasting industries to increase project numbers and reduce reliance on one-time project revenues[43] - The top five customers accounted for approximately 32.2% of total revenue for the year ending December 31, 2023, compared to 31.1% in 2022, with the largest customer contributing about 7.7% of sales[58] Risk Management - The board of directors confirmed that they are responsible for ensuring the effectiveness of the group's risk management and internal control systems, which were reviewed annually[122] - The group has engaged an independent external consultant for an internal control review, which has been completed as of the date of the annual report[122] Future Outlook - The group anticipates steady revenue growth in the APM business over the coming years, driven by product and technology innovations in sectors such as smart mining, smart factories, and smart cities[15] - The company plans to distribute dividends semi-annually, subject to its profitability and cash flow levels, with the ability to declare special dividends as needed[80]
国际商业数字技术(01782) - 2023 - 年度财报