Financial Performance - The total operating revenue for the year ended December 31, 2023, was RMB 11,868,490,425.19, representing an increase of 8.6% compared to RMB 10,930,302,487.30 in 2022[6]. - The net profit for the year was RMB 1,497,993,816.01, which is an increase of 8.6% from RMB 1,379,799,651.29 in 2022[6]. - Net profit for the year reached RMB 1,628,350,305.31, an increase of 17.0% compared to RMB 1,391,235,128.21 from the previous year[7]. - The total revenue for the year reached RMB 11,689,548,656.46, an increase from RMB 10,778,208,745.73 in the previous year, representing a growth of approximately 8.4%[64]. - The main business income from educational materials sales was RMB 2,104,331,436.48, up from RMB 1,919,895,234.87, indicating a growth of about 9.6%[64]. - The company achieved operating revenue of RMB 11.868 billion, representing an 8.58% year-on-year increase, driven by growth in textbook distribution and online sales of general books, as well as revenue from the acquisition of Liangshan Xinhua Bookstore[84]. - The overall gross margin improved to 38.04%, up 1.29 percentage points from 36.75% in the previous year, with the main business gross margin at 37.25%, an increase of 1.27 percentage points[87]. - The company reported a total income tax expense of RMB 390.79 million for the current year, compared to RMB 344.95 million in the previous year, with a tax rate of 25% applied[77]. Assets and Liabilities - The total assets as of December 31, 2023, amounted to RMB 21,787,563,374.32, up from RMB 20,651,387,559.36 in the previous year, indicating a growth of 5.5%[3]. - The total liabilities as of December 31, 2023, were RMB 8,373,407,203.21, compared to RMB 7,989,354,199.30 in 2022, showing an increase of 4.8%[4]. - The total equity attributable to shareholders increased to RMB 13,070,948,143.35 from RMB 12,489,979,423.63, reflecting a growth of 4.7%[5]. - The total amount of cash dividends declared for the year was RMB 641,597,320.00, compared to RMB 394,829,120.00 in the previous year, reflecting a year-on-year increase of approximately 62.5%[63]. - The total accounts payable at the end of the year was RMB 5,470,058,096.76, slightly up from RMB 5,424,399,662.93 in the previous year[55]. Cash Flow - Operating cash flow increased to RMB 13,186,619,287.21, up 13.7% from RMB 11,654,572,871.67 in the prior year[8]. - The net cash inflow from operating activities for the year was RMB 2.353 billion, an increase of 16.23% compared to RMB 2.024 billion in the same period last year, primarily due to the acquisition of Liangshan Xinhua Bookstore and growth in sales of educational books[113]. - The net cash outflow from investing activities was RMB 461 million, a shift from a net inflow of RMB 232 million in the previous year, mainly due to increased expenditures on fund investments and fixed deposits[113]. - The net cash outflow from financing activities was RMB 576 million, slightly up from RMB 493 million in the previous year, primarily due to dividend distributions and lease liabilities[113]. Research and Development - Research and development expenses for the year were RMB 19,979,888.16, up from RMB 14,166,706.34, marking an increase of 41.1%[6]. - Total R&D expenditure amounted to RMB 10.31 million, with a capitalized R&D ratio of 17.25%[112]. Market and Growth Strategy - The company plans to expand its market presence and invest in new technologies to drive future growth[6]. - Future guidance indicates a focus on increasing revenue through strategic acquisitions and product development initiatives[34]. - The company plans to continue expanding its product offerings and enhance its service capabilities to meet diverse customer needs[91]. - The company is actively exploring new paths for integrated publishing, leveraging emerging technologies to enhance production, dissemination, and marketing processes[83]. Tax and Regulatory Changes - The company and its subsidiaries will no longer be exempt from corporate income tax starting January 1, 2024, after a five-year exemption period[13]. - The company has evaluated its ability to continue as a going concern and found no significant doubts regarding its sustainability[12]. - The company confirmed revenue from pre-received goods amounting to RMB 580,902,310.97 during the year[56]. Investments and Joint Ventures - The company has established joint ventures and partnerships to strengthen its investment portfolio and leverage synergies in the market[34]. - The company transferred 25% equity of Hainan Phoenix to Hainan Province Xinhua Bookstore Group on December 30, 2020, establishing significant influence over Hainan Phoenix as an associate company[36]. - The company signed a partnership agreement on August 1, 2023, investing RMB 40,000,000, holding a 19.90% limited partner share, with a fair value change loss of RMB 60,482.19 for the year[42]. Employee and Governance - The company emphasizes a "people-oriented" HR philosophy, focusing on employee growth and development through various training opportunities[127]. - The board of directors includes three executive directors and five non-executive directors, ensuring a diverse governance structure[140]. - The company established an audit committee in compliance with the listing rules, which reviewed the consolidated financial statements for the year[134].
新华文轩(00811) - 2023 - 年度业绩