Financial Performance - Revenue for the year ended December 31, 2023, was RMB 3,307,839, a decrease of 13.6% compared to RMB 3,828,984 in 2022[2] - Gross profit for the same period was RMB 1,469,365, down 21.7% from RMB 1,877,563 in the previous year, resulting in a gross margin of 44.4%[2] - Operating profit for the year was RMB 378,051, a significant recovery from an operating loss of RMB 607,975 in 2022[2] - Adjusted net profit for the year was RMB 346,985, representing a decrease of 42.8% from RMB 606,660 in 2022[2] - Basic and diluted earnings per share for the year were RMB 7.23, compared to a loss of RMB 32.65 per share in the previous year[4] - The company reported a net profit for the year of RMB 290,483 million, reflecting the company's overall financial health[16] - The profit attributable to equity holders of the company was RMB 233,633,000, an increase of RMB 1,288,180,000 from a loss of RMB 1,054,547,000 in the previous year[75] Dividends - The company proposed a final dividend of HKD 0.8 cents per share, with an annual dividend payout ratio of 106.9%[2] - The company proposed a final dividend of HKD 0.8 per share and a special dividend of HKD 4.2 per share for the year ended December 31, 2023, totaling approximately RMB 146,351,000[30] - The group reported a total of RMB 249,833,000 in dividends for the year ended December 31, 2023, compared to RMB 244,706,000 in 2022, showing a slight increase[29] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 16,002,111, a decrease from RMB 16,619,022 in 2022[6] - Total liabilities decreased to RMB 1,730.974 million from RMB 2,061.584 million year-over-year, indicating a reduction of approximately 16%[16] - The company’s equity attributable to shareholders was RMB 12,480,431, down from RMB 12,650,866 in the previous year[7] - The total loans decreased to RMB 455,250,000 in 2023 from RMB 677,700,000 in 2022, representing a reduction of approximately 33%[35] Segment Performance - The segment performance showed a profit of RMB 405.526 million from the Fragrance and Food Ingredients segment, while the Tobacco Raw Materials segment generated a profit of RMB 90.768 million[16] - The Fragrance and Food Ingredients segment accounted for the largest share of total revenue, generating RMB 1,484.628 million[16] - The sales revenue of the flavor and food ingredients business was approximately RMB 1.464 billion, down 22.0% from RMB 1.877 billion in 2022, accounting for 44.3% of total revenue[44] - The sales revenue from the tobacco raw materials business was approximately RMB 465 million, a year-on-year increase of 2.3%, accounting for about 14.0% of the group's total revenue[49] - The sales revenue from the fragrance raw materials business decreased by 32.4% to approximately RMB 625 million, accounting for about 18.9% of the group's total revenue[52] - The seasoning business reported sales revenue of approximately RMB 754 million, a 31.6% increase from RMB 573 million in 2022, accounting for 22.8% of total group revenue[60] Expenses - The total cost of sales, selling and marketing expenses, and administrative expenses for the year ended December 31, 2023, was RMB 2,996,149,000, down from RMB 3,121,785,000 in 2022[19] - The company incurred a total depreciation expense of RMB 210.998 million and amortization expenses of RMB 106.599 million during the reporting period[16] - The company's income tax expense for the year ended December 31, 2023, was RMB 125,442,000, a decrease from RMB 180,840,000 in 2022[22] - The group's administrative expenses for the year were RMB 830,866,000, a slight increase of 0.6% from RMB 825,959,000 in the previous year[70] - Sales and marketing expenses were RMB 326,809,000, a decrease of 5.1% from RMB 344,405,000, with the ratio to total revenue increasing to approximately 9.9%[69] Research and Development - Research and development expenses for the year ended December 31, 2023, were RMB 253,196,000, slightly down from RMB 266,233,000 in 2022[19] - The group obtained 12 patents related to flavoring and food ingredients, showcasing its R&D capabilities in specialized fields[61] Corporate Governance and Legal Matters - The company has not fully complied with corporate governance codes due to the impact of the chairman's legal issues, affecting the execution of certain responsibilities[94] - The company has adopted the standard code of conduct for securities trading by directors, ensuring compliance with the relevant regulations[95] - The company is monitoring ongoing legal matters involving its executives and will seek necessary legal advice as needed[93] - The company has received notifications regarding the lifting of house arrest for its chairman, allowing her to resume normal work[89] Future Plans and Strategies - The company plans to continue evaluating the impact of new accounting standards and revisions, with no significant effects anticipated on future reporting periods[14] - The group plans to establish a factory in Indonesia to enhance the convenience of selling products in the Southeast Asian market[45] - The group is focusing on consolidating its domestic market while expanding into overseas markets to broaden its business coverage[38] - The company plans to focus on high-margin, stable-return projects and continue lean production to improve operational efficiency and business performance in the upcoming year[64]
华宝国际(00336) - 2023 - 年度业绩