Financial Performance - For the year ended December 31, 2022, the company's main business revenue was RMB 924.2 million, a decrease of 22.9% compared to RMB 1,198.0 million in 2021[3]. - The company's adjusted profit for the year was RMB 196.0 million, with an adjusted profit margin of 21.2%, down from 25.2% in 2021[3]. - The total revenue and income decreased by 22.9% from RMB 1,198.0 million in 2021 to RMB 924.2 million in 2022[21]. - The gross profit for the same period was RMB 774,535 thousand, down from RMB 927,250 thousand, reflecting a gross margin decline[58]. - Adjusted profit for the year ended December 31, 2022, was RMB 196.0 million, compared to RMB 301.6 million for the year ended December 31, 2021[39]. - The annual loss decreased from RMB 12,990.7 million for the year ended December 31, 2021, to RMB 21.9 million for the year ended December 31, 2022[37]. - The company reported a pre-tax profit of RMB 17,942 thousand, a significant recovery from a pre-tax loss of RMB 12,915,271 thousand in 2021[58]. - The net loss for the year was RMB 21,855 thousand, a substantial improvement compared to a net loss of RMB 12,990,673 thousand in the previous year[59]. Customer and Market Metrics - The number of core enterprise customers increased by 83.9% to 401 in 2022, compared to 218 in 2021[4]. - The total number of partners rose by 63.5% to 1,110 in 2022, up from 679 in 2021[4]. - The company maintained a customer retention rate of 96% in 2022, slightly down from 97% in 2021[4]. - The company ranked first in market share among third-party supply chain financial technology solution providers in China, with a market share of 20.6%[8]. - The company processed supply chain asset transactions exceeding RMB 5 billion across nine industries in 2022, including real estate and infrastructure[17]. Revenue Breakdown - The total revenue from core enterprise cloud decreased by 25.3% to RMB 503.8 million in 2022, primarily due to pricing adjustments and structural changes[22]. - The total revenue from financial institution cloud decreased by 21.8% to RMB 362.6 million in 2022, attributed to a decline in the number of supply chain assets processed[22]. - Revenue from cross-border cloud services increased by 29.0% to RMB 34.8 million for the year ended December 31, 2022, compared to RMB 27.0 million for the year ended December 31, 2021[23]. - Revenue from SME credit technology solutions decreased by 28.8% to RMB 23.1 million for the year ended December 31, 2022, down from RMB 32.4 million for the year ended December 31, 2021[23]. - The group's revenue from supply chain fintech solutions for the year ended December 31, 2022, was RMB 866,341,000, a decrease of 24% from RMB 1,138,645,000 in 2021[69]. Research and Development - The company's R&D investment reached RMB 351.1 million in 2022, a 26.6% increase year-over-year, accounting for 38.0% of total revenue[9]. - Research and development expenses increased to RMB 351,118 thousand from RMB 277,409 thousand, indicating a focus on innovation despite overall revenue decline[58]. - R&D expenses increased by 26.6% to RMB 351.1 million for the year ended December 31, 2022, from RMB 277.4 million for the year ended December 31, 2021[26]. Financial Position - The company's cash and cash equivalents totaled RMB 5.9 billion as of December 31, 2022, ensuring a solid financial position for future growth[10]. - The outstanding balance of supply chain assets funded by the company's own capital was RMB 2,588.5 million as of December 31, 2022[41]. - The company's capital-to-debt ratio as of December 31, 2022, was 0.6%, down from 12.9% as of December 31, 2021, indicating a substantial improvement in financial leverage[46]. - The company had unused bank credit facilities of RMB 9,950.0 million as of December 31, 2022[45]. - Cash and cash equivalents increased by RMB 803.5 million to RMB 5,731.4 million as of December 31, 2022, compared to RMB 4,927.9 million as of December 31, 2021[43]. Operational Challenges and Future Outlook - The company faced challenges due to macroeconomic pressures, but identified long-term growth opportunities in supply chain finance and digital transformation[7]. - The company expects the overall market to gradually recover in 2023 due to policy support and industry demand rebound[15]. - The company plans to expand its collaboration with financial institutions in 2023 to regain growth in the e-chain cloud business[15]. - The company aims to enhance the efficiency of the supply chain financial technology solutions to alleviate financing difficulties for SMEs and drive economic recovery[19]. - The company plans to continue expanding its supply chain financial technology solutions and innovative data-driven solutions in both domestic and international markets[64]. Employee Metrics - The total number of employees as of December 31, 2022, was 981, with 604 in R&D, 156 in sales and marketing, and 221 in general administration[49]. - Total employee costs increased to RMB 479,492 thousand in 2022 from RMB 424,132 thousand in 2021, representing a growth of approximately 13%[1]. Corporate Governance and Compliance - The company has complied with all corporate governance code provisions during the reporting year, with a noted exception regarding the roles of the Chairman and CEO being held by the same individual[51]. - The company did not declare or pay any dividends for the years ended December 31, 2022, and 2021, but the board recommended a special dividend of HKD 0.25 per ordinary share, subject to shareholder approval[88]. Asset and Liability Management - The total amount of supply chain assets for small and medium-sized enterprise credit technology solutions was RMB 150,709 thousand, with a significant increase from the previous period[101]. - The overdue amounts for supply chain assets as of December 31, 2022, included RMB 3,535 thousand overdue for 1 to 90 days, RMB 17,800 thousand overdue for 90 days to 1 year, and RMB 16,696 thousand overdue for 1 to 2 years[103]. - The total liabilities, including current and non-current, amounted to RMB 1,809,857 thousand as of December 31, 2022, compared to RMB 681,390 thousand in 2021, reflecting a substantial increase[110].
联易融科技-W(09959) - 2022 - 年度业绩