Financial Performance - For the fiscal year 2023, the company's revenue was approximately RMB 150.6 million, representing a 5.8% increase from RMB 142.4 million in 2022[5] - The company's gross profit decreased by approximately RMB 1.7 million or 6.3%, from about RMB 27.2 million in 2022 to approximately RMB 25.5 million in 2023[13] - The gross profit margin fell from 19.1% in 2022 to 17.0% in 2023, a decrease of 2.1 percentage points[13] - Sales costs increased by approximately RMB 9.9 million or 8.6%, from about RMB 115.2 million in 2022 to approximately RMB 125.1 million in 2023[12] - The company recorded a pre-tax loss of approximately RMB 12.7 million in the fiscal year 2023, compared to a loss of approximately RMB 10.3 million in the fiscal year 2022[24] Revenue and Business Outlook - The company plans to launch a new supply chain management business in mainland China, which is expected to enhance revenue sources and profitability[7] - The company remains optimistic about the business outlook in mainland China for 2024 and beyond, supported by government measures to stimulate consumer demand[7] Cash and Liquidity - The company continues to maintain a focus on cash preservation and liquidity enhancement amid market uncertainties[5] - Cash and cash equivalents and bank deposits totaled approximately RMB 39.7 million as of December 31, 2023, up from approximately RMB 36.7 million as of December 31, 2022, representing 22.8% of total current assets[25] Inventory and Receivables - Inventory increased by approximately RMB 8.2 million to about RMB 31.1 million as of December 31, 2023, with a turnover period of 79 days[26] - Trade receivables rose by approximately RMB 8.5 million to about RMB 93.9 million as of December 31, 2023, with a turnover period of 217 days[27] Employee and Labor Relations - The total employee costs for the fiscal year 2023 amounted to approximately RMB 26.5 million, compared to RMB 26.0 million in the fiscal year 2022[43] - The group employed approximately 290 full-time employees as of December 31, 2023[43] - Employee turnover rate for the reporting period was 1.05%, with 3 employees voluntarily leaving for career development[115] - The company emphasizes a safe and healthy work environment, implementing safety training and emergency plans to prevent workplace accidents[123] Environmental, Social, and Governance (ESG) - The company continues to focus on environmental, social, and governance (ESG) matters as part of its long-term strategy[47] - The company aims to operate efficiently by reducing the use of non-renewable resources and minimizing harmful emissions and wastewater discharge[58] - The company has implemented a "green policy" aimed at minimizing pollution and promoting resource conservation[67] - The company has established communication channels with stakeholders, including shareholders, employees, and regulatory bodies, to gather feedback on ESG matters[60] Corporate Governance - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced governance structure[156] - The company has adopted the corporate governance code and has complied with it, except for the deviation regarding the roles of the Chairman and CEO being held by the same individual[156] - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee various aspects of the group's affairs[159] Risk Management and Compliance - The company has established a robust internal control system aimed at managing risks and ensuring the protection of shareholder investments[192] - The board is responsible for preparing financial statements that fairly reflect the group's financial position and performance in accordance with international financial reporting standards[191] Shareholder Rights and Communication - Shareholders have the right to participate in general meetings, allowing direct communication with the board and the opportunity to vote on significant matters[196] - The company encourages shareholders to submit inquiries and suggestions directly to the board during general meetings[197]
米格国际控股(01247) - 2023 - 年度财报