YOOZOO(SZ:002174)2024-04-28 08:31Financial Performance - Youzu Games HongKong Limited reported a net profit of approximately HKD 290.88 million, contributing significantly to the overall net profit[2]. - YOUZU (SINGAPORE) PTE.LTD achieved a net profit of approximately USD 20.08 million, indicating strong performance in software development[2]. - Shanghai Youzu Information Technology Co., Ltd. generated a net profit of approximately RMB 202.90 million, reflecting robust revenue generation[2]. - Shanghai Youjia Information Technology Co., Ltd. reported a net loss of approximately RMB 11.67 million, highlighting challenges in its operations[2]. - The company reported a total revenue of 2,260.3 million in 2023, with a net profit of 371.9 million, reflecting a significant increase from the previous year's net profit of 1,888.4 million[44]. - The company reported a total revenue of 1,543.67 million CNY for the reporting period[73]. - The company's operating revenue for 2023 was ¥1,625,398,795.18, a decrease of 17.93% compared to ¥1,980,551,943.26 in 2022[168]. - The net profit attributable to shareholders for 2023 was ¥91,365,212.16, a significant increase of 114.39% from a loss of ¥634,828,788 in 2022[168]. - The net profit after deducting non-recurring gains and losses was ¥74,893,535.30, up 124.59% from a loss of ¥304,533,995.70 in the previous year[168]. - The net cash flow from operating activities was -¥230,212,394, a decline of 246.15% compared to ¥157,516,762 in 2022[168]. - Basic and diluted earnings per share for 2023 were both ¥0.10, a recovery from a loss of ¥0.72 in 2022, representing an increase of 113.89%[168]. - The total assets at the end of 2023 were ¥6,021,056,050, a decrease of 4.13% from ¥6,278,703,870 at the end of 2022[168]. - The net assets attributable to shareholders increased by 1.73% to ¥4,618,753,181.18 from ¥4,540,027,852.64 in 2022[168]. - The company reported a weighted average return on equity of 2.00% for 2023, a significant improvement from -13.12% in 2022[168]. - The company reported a net profit of 16,471,676.86 in 2023, a significant recovery from a loss of 330,294,793.16 in 2022, indicating a turnaround in financial performance[189]. Strategic Initiatives - The company plans to continue expanding its market presence and exploring new product development opportunities[7]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[46]. - The company aims to achieve a revenue growth target of 15% for the upcoming fiscal year, driven by new game launches and market expansion efforts[46]. - The company has allocated a budget of 100 million for research and development in innovative gaming technologies over the next year[46]. - The management emphasized the importance of enhancing user experience through technological advancements and strategic partnerships[47]. - The company is focusing on AI technology integration, establishing an AI Innovation Institute to enhance game development and operational efficiency[199]. - The company plans to launch several new products, including the latest installment of the "Youth" series and the first authorized game based on the "Three-Body" IP, expected to boost future revenue growth[197]. Governance and Management - The company has a structured approach to governance, with no significant discrepancies from regulatory requirements[18]. - The company has implemented measures to address the risk of core personnel turnover, ensuring stability in management[6]. - The company has a complete and independent business structure, operating autonomously without reliance on the largest shareholder[31]. - The company has established a dedicated financial department and internal audit department to ensure independent financial decision-making[33]. - The board of directors is committed to maintaining transparency and accountability in financial reporting and corporate governance practices[46]. - The company has a governance structure in place with a supervisory board consisting of three members, ensuring compliance with legal and regulatory requirements[107]. - The company has seen changes in its board members, with several resignations due to personal reasons[29]. - The company has a new strategy focusing on market expansion and product development as indicated in the board meetings[57][58]. - The company is actively pursuing new strategies and governance adjustments as reflected in the various board resolutions throughout the year[57][58][61]. Employee and Training Initiatives - The company has a comprehensive training system focusing on employee growth and development[88]. - The company conducted various training programs, including AI technology seminars, to enhance employee skills and knowledge[88]. - The company emphasizes regular communication and professional training for its employees[88]. - The company has implemented a long-term equity incentive plan to enhance employee motivation and align interests with the company[111]. Shareholder Engagement - The company held multiple shareholder meetings, with participation rates ranging from 20.13% to 21.12%[21]. - The company held its first extraordinary general meeting on March 15, 2023, with a 9.22% attendance rate[34]. - The company has a dedicated website for information disclosure, ensuring equal access for all shareholders[30]. - The profit distribution plan approved by the board is to distribute a cash dividend of ¥0.5 per 10 shares (including tax) to all shareholders[150]. Financial Management - The company maintains financial independence with a complete and independent accounting system, ensuring no interference from the largest shareholder[33]. - The company has not reported any significant related party transactions or competition with the largest shareholder[31]. - The company has a robust internal control system in place to manage financial operations independently[33]. - The company has a total of 627.94 million in unused raised funds as of December 31, 2023[100]. - The total amount of raised funds used in the current period is 52.267 million[100]. - The company has not changed the purpose of the raised funds during the reporting period[100]. - The total pre-tax remuneration for the chairman and non-independent director, Wan Zheng, is 209.83 thousand[89]. - The total pre-tax remuneration for the general manager and non-independent director, Chen Fang, is 213.13 thousand[89]. - The total pre-tax remuneration for the financial director and non-independent director, Sha Qingqin, is 144.87 thousand[89]. - The total pre-tax remuneration for the independent director, Tan Qunzhao, is 21 thousand[89]. - The total pre-tax remuneration for the independent director, Zhang Zijun, is 18 thousand[89]. - The total pre-tax remuneration for the board secretary, Lu Yi, is 126.35 thousand[89].