Financial Performance - Revenue increased by 2.5% to approximately RMB 17,352,600,000 compared to RMB 16,933,100,000 in the previous year[2] - Sales volume rose by 6.6% to 757,480 tons from 710,534 tons in the previous year[2] - Gross profit increased by 12.1% to approximately RMB 1,990,200,000 compared to RMB 1,774,700,000 in the previous year[2] - Profit attributable to shareholders increased by 75.7% to approximately RMB 804,200,000 from RMB 457,800,000 in the previous year[2] - Earnings per share were RMB 1.91, up from RMB 1.09 in the previous year[2] - Operating profit rose to RMB 1,056,298,000 from RMB 655,774,000 in the previous year[4] - Total comprehensive income for the year was RMB 811,414,000, compared to RMB 394,216,000 in the previous year[6] - The gross profit for the year was RMB 1,990,200,000, representing a year-on-year increase of 12.1%, with the gross profit margin rising to 11.5% from 10.5%[59] - The profit before tax for the year was RMB 916,323,000, compared to RMB 511,884,000 in the previous year, showing a substantial increase of approximately 79%[22] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.64 per share, compared to HKD 0.37 per share in the previous year[2] - The proposed final dividend per ordinary share for 2023 is HKD 0.64, up from HKD 0.37 in 2022, totaling RMB 243,968,000[37] - The company paid dividends of RMB 141,047 thousand in 2023, compared to RMB 285,419 thousand in 2022, showing a reduction in dividend payouts[10] Cash Flow and Liquidity - Operating cash flow for 2023 was RMB 1,466,607 thousand, a significant increase from RMB 790,767 thousand in 2022, representing an 85.3% growth[10] - The total cash and cash equivalents at the end of 2023 reached RMB 2,840,415 thousand, up from RMB 1,849,773 thousand at the end of 2022, marking a 53.7% increase[10] - The current ratio improved to 1.80 from 1.56, and the quick ratio increased to 1.52 from 1.29, indicating better liquidity[75] Assets and Liabilities - Non-current assets increased to RMB 4,239,211,000 from RMB 3,640,771,000 in the previous year[8] - Net assets attributable to equity shareholders increased to RMB 5,318,308,000 from RMB 4,651,871,000 in the previous year[9] - The total liabilities measured at amortized cost decreased to RMB 3,784,158,000 in 2023 from RMB 4,375,022,000 in 2022, a reduction of 13.5%[50] - The company reported a decrease in the value of notes payable to RMB 1,853,247,000 in 2023 from RMB 2,638,202,000 in 2022, a decline of 29.7%[50] Revenue Breakdown - The revenue from aluminum profiles sales was RMB 16,764,600 thousand, compared to RMB 16,450,403 thousand in the previous year, indicating a growth of about 1.9%[17] - The revenue from aluminum plates, alloys, molds, and components increased to RMB 585,582 thousand from RMB 472,824 thousand, reflecting a significant growth of approximately 23.8%[17] - Sales of building aluminum profiles increased by 2.9% to approximately RMB 14,121,800,000, with sales volume up by 9.2% to about 622,678 tons[60] - Industrial aluminum profile revenue decreased by 2.9% to approximately RMB 2,642,800,000, with sales volume down by 5.1% to about 126,171 tons[61] Cost and Expenses - Employee costs totaled RMB 1,097,199 thousand in 2023, a marginal increase from RMB 1,092,542 thousand in 2022[26] - Distribution costs rose by 29.7% to approximately RMB 374,100,000, accounting for 2.2% of revenue, up from 1.7%[70] - Administrative expenses increased by 7.0% to approximately RMB 439,300,000, representing 2.5% of revenue, compared to 2.4% in the previous year[71] Market and Strategic Outlook - The company is focused on expanding its market presence in the aluminum manufacturing and sales sector, which is its primary business[15] - The group plans to enhance production capacity and expand overseas, with a digital and automated production base in Zhejiang Province expected to start production in 2024[57] - The group aims to strengthen cooperation with state-owned enterprises and real estate companies with healthy cash flows, while exploring public construction project opportunities[63] - The group is focusing on the photovoltaic sector and new energy vehicles, aiming to develop high-strength, lightweight aluminum products to capture market opportunities[63] - The group anticipates a cautious yet optimistic outlook for the aluminum profile industry in 2024, despite challenges in the real estate sector[62] Compliance and Governance - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2023, ensuring compliance with financial reporting procedures[99] - The group's auditor, KPMG, confirmed that the financial data disclosed in the preliminary announcement is consistent with the audited financial statements[100] - The company has adhered to all corporate governance codes as of December 31, 2023[95]
兴发铝业(00098) - 2023 - 年度业绩