Financial Performance - Revenue for the fiscal year 2023 reached a record high of 23.45 billion[110] - Total assets grew by 10% to 5 billion in new technology research and development over the next three years[110] - The company developed 955 new chip models in 2023, including 199 for desktop laser printers and 756 for desktop inkjet printers, and upgraded 62 chip models[61] - The company is considering acquiring an integrated circuit design company to accelerate hardware design capabilities[149] - The company's core strength lies in its R&D capabilities, which are a key success factor in the industry[165] Market Expansion and Sales - Market expansion efforts in Southeast Asia resulted in a 20% increase in regional sales, totaling 8.9 billion, enhancing its market position[110] Customer and User Growth - The company's customer base grew by 12%, reaching 1.5 billion active users globally[110] Product Launches - New product launches contributed $15.67 billion to revenue, accounting for 16% of total sales[110] Financial Forecasts - The company forecasts a 10-12% revenue growth for the next fiscal year, driven by new product lines and market expansion[110] Board and Governance - The company maintains a policy of having at least one female director on the board, currently represented by Ms. Yu Erhao[45] - The nomination committee held one meeting during the reporting period to review board composition and assess the independence of non-executive directors[39] - The company's board diversity policy emphasizes gender, age, cultural and educational background, professional qualifications, skills, knowledge, and industry experience[43] - The nomination committee is responsible for ensuring board diversity and reviews the implementation and effectiveness of the board diversity policy annually[45] - The company's board of directors is pleased to present the annual report and audited consolidated financial statements for the year ended December 31, 2023[186] Employee and Workforce - The company employed 148 staff (excluding directors) as of December 31, 2023, with a female-to-male ratio of 1.2 (81 females and 67 males)[46] - As of December 31, 2023, the company had approximately 154 full-time employees, with 134 based in China and 20 in Taiwan, Hong Kong, and overseas[145] Financial Position and Liquidity - As of December 31, 2023, the company's net current assets were approximately RMB 345.6 million, with current assets decreasing to RMB 364.5 million and current liabilities decreasing to RMB 18.9 million[94] - Property, plant, and equipment net book value decreased from RMB 5.9 million as of December 31, 2022, to RMB 4.9 million as of December 31, 2023, mainly due to the termination of certain leases and annual depreciation[95] - Intangible assets net book value increased from RMB 13.5 million as of December 31, 2022, to RMB 15.9 million as of December 31, 2023, primarily due to the acquisition of patents[96] - Deposits, prepayments, and other receivables increased from RMB 10.8 million as of December 31, 2022, to RMB 21.8 million as of December 31, 2023, mainly due to prepayments for property, plant, and equipment, intangible assets, raw materials, and subcontracting services for multiple R&D projects[97] - Trade payables decreased from RMB 11.7 million as of December 31, 2022, to RMB 6.2 million as of December 31, 2023, due to slower procurement of raw materials[98] - Inventory increased from RMB 20.6 million as of December 31, 2022, to RMB 40.5 million as of December 31, 2023, mainly due to increased procurement of raw materials, particularly wafers[111] - Trade receivables decreased from RMB 75.2 million as of December 31, 2022, to RMB 58.4 million as of December 31, 2023, due to improved collection efforts[112] - The company's current ratio increased from 9.9 as of December 31, 2022, to 19.3 as of December 31, 2023, and the quick ratio increased from 9.4 to 17.2, indicating healthy short-term liquidity[116] - The company's leverage ratio was 0.0% as of December 31, 2023 (0.3% as of December 31, 2022), indicating a robust financial position with no financial borrowings[124] - The company's cash and cash equivalents amounted to approximately RMB 183.8 million, and fair-valued financial products were RMB 60.0 million as of December 31, 2023[135] - The net current assets of the company were approximately RMB 345.6 million, and the net assets were RMB 370.2 million as of December 31, 2023[135] - The company subscribed to two financial products with a total principal of RMB 50 million, with annual interest rates ranging from 1.99% to 2.79% and maturity periods of 7 to 92 days[127] - The company's financial products accounted for approximately 5.1% and 7.7% of the total assets as of December 31, 2023[159] Dividends and Shareholder Returns - The company plans to distribute a final dividend of RMB 0.0179 per share for the fiscal year ending December 31, 2023[57] - The company paid a final dividend of approximately RMB 13,141,000 for the year ended December 31, 2021, and approximately RMB 17,949,000 for the year ended December 31, 2022[188] Company History and Structure - The company was incorporated in the Cayman Islands on June 22, 2016, and its shares were listed on the Main Board of the Hong Kong Stock Exchange on March 31, 2021[187] - The company's registered office is located at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands[187] Leadership and Management - Mr. Wang Hua, CEO of the group and Zhuhai Meijia, has over 11 years of experience in the integrated circuit solutions industry and has been responsible for the overall management and operations of the company since 2017[196] - Ms. Lü Liang, CFO of the group, has extensive experience in financial management and joined the group in December 2019[197] - Mr. Chen Dajiang, an independent non-executive director, has over 20 years of experience in private equity investments across various industries, including semiconductors and life sciences[191] - Mr. Gao Yiping, an independent non-executive director, holds a Master of Science degree from National Taiwan University and is responsible for independently supervising the management of the group[194] - Mr. Hong Wenlong, a software department head at Meijia Yin Holdings (BVI) Taiwan Branch, has a background in electronic engineering and has been with the group since December 2015[200] - The company's secretary, Mr. Wong, has over 18 years of experience in the company secretarial field and has held various senior positions in listed companies[184] Operational Efficiency and Back-Office Support - The company will enhance back-office functions to support business growth[149] Future Plans and Strategies - The company has no significant investment or capital asset plans for the upcoming year as of December 31, 2023[165] - The company has no other significant investments during the relevant period[160]
美佳音控股(06939) - 2023 - 年度财报