Financial Performance - Revenue for the year ended December 31, 2023, was RMB 2,098,220 thousand, a decrease of 8.8% compared to RMB 2,300,875 thousand in 2022[3] - Gross profit for the same period was RMB 223,268 thousand, down 4.8% from RMB 234,475 thousand in the previous year[3] - Adjusted EBITDA for 2023 was RMB 65,626 thousand, reflecting a decline of 24.7% from RMB 87,132 thousand in 2022[3] - Adjusted net profit decreased by 32.9% to RMB 32,506 thousand from RMB 48,420 thousand year-on-year[3] - The company reported a net profit of RMB 21,996 thousand for the year, a significant recovery from a loss of RMB 128,558 thousand in 2022[9] - Basic and diluted earnings per share for the year were RMB 0.01, compared to a loss of RMB 0.09 per share in the previous year[9] - The company reported a net profit of RMB 15,488,000 for the year ended December 31, 2023, compared to a net loss of RMB 111,453,000 in the previous year[21] - Total comprehensive loss for the year was RMB 24,144,000, which includes a foreign exchange difference of RMB 2,148,000[18] Assets and Liabilities - Total assets increased by 3.3% to RMB 1,973,730 thousand from RMB 1,911,100 thousand in 2022[3] - Total liabilities rose by 5.7% to RMB 568,754 thousand compared to RMB 538,276 thousand in the previous year[3] - Current ratio decreased to 3.2 from 3.4 in the previous year[3] - Total equity increased by 2.3% to RMB 1,404,976 thousand from RMB 1,372,824 thousand in 2022[11] - The company’s total equity attributable to owners was RMB 1,319,230,000 as of December 31, 2023, up from RMB 1,293,445,000 in the previous year[18] - The company’s accumulated losses amounted to RMB 589,160,000 as of December 31, 2023, compared to RMB 604,648,000 in the previous year[18] - The company’s financial costs increased to RMB 10,009,000 from RMB 7,696,000 in the previous year[21] - The company’s cash flow from operating activities was negatively impacted by an increase in accounts receivable of RMB 98,478,000[21] Cash Flow and Investments - Operating cash flow for the year was a net outflow of RMB 65,314,000, a decrease from a net inflow of RMB 9,368,000 in the previous year[21] - Net cash flow from investing activities was RMB (29,854,000), compared to RMB (19,394,000) in 2022, indicating increased investment outflows[22] - Cash and cash equivalents at the end of 2023 were RMB 521,874,000, a decrease from RMB 538,224,000 at the end of 2022[22] - Financing activities generated a net cash flow of RMB 76,670,000, down from RMB 137,271,000 in the previous year[22] - The company made a prepayment of RMB (25,131,000) for the acquisition of subsidiaries, significantly higher than RMB (2,584,000) in 2022[22] Revenue Breakdown - Mobile advertising service revenue was RMB 1,997,751,000, down 9.0% from RMB 2,196,736,000 in the previous year[31] - Software maintenance service revenue increased to RMB 39,572,000 from RMB 14,102,000, showing a growth of 180.5%[31] - Revenue from online video product distribution decreased by 33.0% from RMB 84.5 million in 2022 to RMB 56.6 million in 2023[61] - Revenue from game operation services decreased by 21.8% from RMB 5.5 million in 2022 to RMB 4.3 million in 2023[62] - Revenue from mobile advertising services decreased by 9.1% from RMB 2,196.7 million in 2022 to RMB 1,997.8 million in 2023 due to a reduction in the number of mobile games promoted[56] Expenses - Research and development expenses decreased by 6.4% from RMB 86.2 million in 2022 to RMB 80.7 million in 2023[68] - Sales and distribution expenses increased by 33.0% from RMB 19.4 million in 2022 to RMB 25.8 million in 2023 due to increased marketing and advertising expenses[67] - Administrative expenses decreased by 4.5% from RMB 52.8 million in 2022 to RMB 50.4 million in 2023, primarily due to a reduction in professional service costs[71] - Other expenses and losses increased from RMB 5.3 million in 2022 to RMB 6.0 million in 2023, mainly due to higher employee-related settlement costs[72] Impairments and Provisions - The company recognized a goodwill impairment loss of RMB 2,361,000 during the year, compared to RMB 154,786,000 in the previous year[21] - The company reported an accounts receivable impairment loss of approximately RMB 19.0 million in 2023 due to provisions for general and specific credit losses[69] - The provision for losses on accounts receivable was RMB 56,869,000 in 2023, up from RMB 49,723,000 in 2022, indicating a rise of approximately 14.5%[44] Strategic Initiatives - The company plans to enhance its AI advertising technology and expand its global business, particularly in the Apple iOS ecosystem and Huawei's HarmonyOS[55] - The company aims to strengthen its partnerships and hold multiple technology development meetings to enhance its influence in the industry[55] - The company organized over 100 industry seminars and exchange activities in 2023 to improve communication with ecosystem participants[52] Shareholder Returns - The company did not declare or pay any dividends for the year ended December 31, 2023, consistent with 2022[39] - The company did not recommend any final dividends for the year ended December 31, 2023[102] Future Outlook - The annual general meeting is scheduled for July 24, 2024, with a notice to be published in accordance with listing rules[114] - No significant events affecting the group have occurred since the end of the financial year on December 31, 2023[118]
万咖壹联(01762) - 2023 - 年度业绩