Financing and Investment - The Group's financing leasing services have expanded nationwide, focusing on optimizing industrial structure and resource integration to achieve economic and social benefits[44]. - The Group anticipates that the post-pandemic health industry will become a significant growth point, with plans to focus on medical equipment leasing and trading, diversifying revenue streams[44]. - The Group has adjusted internal return rates to improve asset quality and minimize risks due to increased overdue rates among clients caused by the pandemic[44]. - By 2027, the scale of equipment investment in various industries in China is expected to increase by more than 25% compared to 2023, as outlined in the "Action Plan for Promoting Large-Scale Equipment Renewal and Consumer Goods Replacement" issued by the State Council of China[57]. - The Group's net amount of receivables arising from finance leasing services as of December 31, 2023, was RMB 131,469,000, a decrease from RMB 201,169,000 as of December 31, 2022[68]. - The Group's secured and guaranteed receivables accounted for 99.5% of the total receivables in finance leasing services as of December 31, 2023[68]. - The Group recorded a revenue of RMB 25.1 million from finance leasing services, serving approximately 4,800 SMEs across 30 provinces in China as of December 31, 2023[87][88]. - The Group's finance leasing services include direct finance leasing and sale-leaseback options, enhancing operational expertise in the medical equipment industry[87][88]. - The Group's finance lease receivables and loan receivables were approximately RMB 72.1 million as of December 31, 2023, down from RMB 143.5 million in 2022[145]. Risk Management - The Group's commitment to risk management is central to its strategy in response to the pandemic's effects on client performance[44]. - The Group has developed a risk management system tailored to its business operations, focusing on comprehensive due diligence and multi-level approval processes to mitigate various risks[63]. - The Group's risk management committee evaluates finance leasing transactions through a detailed assessment process, ensuring that customer entry criteria are met before approval[65]. - The Group's management assessed expected credit losses based on trade receivables and other financial instruments, reflecting a proactive approach to credit risk management[113]. - Impairment losses under the expected credit loss model were approximately RMB6.0 million this year, down from approximately RMB9.2 million in the previous year[140]. - An additional impairment loss of approximately RMB6.0 million was recognized due to the impact of COVID-19, affecting the customers' past due ratio[111]. Corporate Governance and Board Activities - The Board convened six full Board meetings during the year to review financial and operational performance and approve overall strategies[33]. - The Group's corporate governance practices include well-documented board meeting minutes and resolutions[151]. - The Board held six meetings during the year, with all directors attending[146]. - The Remuneration Committee reviewed the remuneration packages for directors and senior management, considering business performance and market conditions[155]. - The Nomination Committee will continue to monitor diversity aspects in board appointments and recommend actions as necessary[152]. - The Group's commitment to equal opportunities includes a non-discrimination policy based on various factors such as gender and nationality[152]. Financial Performance - The Group's revenue increased by approximately RMB173.4 million or approximately 53.4%, from approximately RMB324.6 million for the year ended 31 December 2022 to approximately RMB498.0 million for the Year[133]. - Revenue from trading of medical equipment and consumables increased from approximately RMB236.5 million for the Prior Year to approximately RMB417.0 million for the Year[133]. - Operating lease income increased from RMB nil for the Prior Year to approximately RMB0.8 million for the Year[133]. - Income from IT services increased from RMB nil for the Prior Year to approximately RMB26.6 million for the Year[133]. - The cost of medical equipment and consumables sold increased from approximately RMB185.6 million for the Prior Year to approximately RMB375.0 million for the Year[134]. - Profit attributable to owners of the Company decreased to approximately RMB14.6 million this year from RMB15.8 million in the previous year[142]. - As of December 31, 2023, bank balances and cash were approximately RMB108.3 million, up from RMB13.7 million in 2022[144]. - The Group's working capital was approximately RMB199.6 million as of December 31, 2023, down from RMB233.7 million in 2022[144]. - The gearing ratio decreased to approximately 29.6% as of December 31, 2023, from 42.4% in 2022[144]. Employee and Social Responsibility - As of December 31, 2023, the Group had 184 employees, a decrease from 281 employees in 2022[200]. - Total staff cost for the year was approximately RMB41.6 million, down from RMB45.8 million in 2022[200]. - Employee retirement benefit expense for the year was approximately RMB4.7 million, compared to RMB6.0 million in 2022[200]. - The Group participates in various employee social security plans administered by local government[200]. - Remuneration policy rewards employees and Directors based on individual performance and Group performance[200]. - Performance bonuses are offered to qualified employees based on individual and Group performance[200]. - The Group did not experience any material labor disputes during the year[200]. Strategic Initiatives and Future Outlook - The Group is focused on enhancing its services in the maternal and child postpartum care industry through digitization and intelligence, aiming to build a comprehensive mother and baby ecosystem[58]. - The Group entered into an investment agreement to acquire a 51% equity interest in Wuhan Desheng Meimei Health Management Co., Ltd. for RMB 3.4 million, expanding its footprint in postpartum care services[70]. - The Group aims to consolidate its services in the maternal and child postpartum care industry, leveraging modern medicine to enhance service quality and customer experience[58]. - New product development initiatives are underway, focusing on enhancing the maternal and child postpartum care business, which is expected to contribute an additional 5 million[186]. - The company has set a future outlook with a revenue target of $180 million for the next fiscal year, indicating a growth of 20%[178].
紫元元(08223) - 2023 - 年度财报