Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 297.53 million, a decrease of 36% compared to RMB 465.04 million in 2022[4] - The gross profit for the year was RMB 20.18 million, down 62.6% from RMB 53.87 million in the previous year[4] - The net loss for the year was RMB 2.36 million, improving from a net loss of RMB 6.78 million in 2022[4] - Other income increased to RMB 24.78 million from RMB 15.83 million, representing a growth of 56.5%[4] - The total revenue for outdoor wooden products decreased to RMB 295,084 thousand in 2023 from RMB 460,742 thousand in 2022, representing a decline of approximately 36%[18] - Revenue from renewable energy products also fell to RMB 2,446 thousand in 2023 compared to RMB 4,295 thousand in 2022, a decrease of about 43%[18] - The total reportable segment revenue for wooden products was RMB 298,910 thousand in 2023, down from RMB 465,891 thousand in 2022, reflecting a decline of approximately 36%[25] - The reportable segment loss (excluding government subsidies) for wooden products was RMB (6,120) thousand in 2023, compared to a loss of RMB (11,548) thousand in 2022[25] - The company reported a loss attributable to shareholders of RMB 2,364,000 for the year ended December 31, 2023, compared to a loss of RMB 6,558,000 for the previous year, indicating a significant improvement in performance[40] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 1,404.74 million, compared to RMB 1,114.59 million in 2022, indicating a growth of 25.9%[10] - Current liabilities increased to RMB 165.20 million from RMB 129.52 million, a rise of 27.5%[12] - The company’s cash and cash equivalents decreased to RMB 32.50 million from RMB 113.77 million, a decline of 71.5%[10] - Non-current assets totaled RMB 539.63 million, an increase from RMB 453.99 million in 2022, reflecting a growth of 18.8%[10] - Total liabilities increased from RMB 136,214 thousand in 2022 to RMB 182,369 thousand in 2023, an increase of about 34%[29] - Trade receivables decreased to RMB 62,181,000 in 2023 from RMB 64,665,000 in 2022, while total trade and other receivables amounted to RMB 113,143,000, down from RMB 122,955,000[41] - Trade payables increased to RMB 32,505,000 in 2023 from RMB 18,531,000 in 2022, indicating a rise in short-term liabilities[45] Expenses and Income - Selling and distribution expenses were RMB 14.7 million, down from RMB 35.5 million in 2022, due to decreased sales volume[62] - Administrative expenses decreased to RMB 31.8 million from RMB 48.0 million, mainly due to reduced R&D spending[63] - Financing costs rose to approximately RMB 1.4 million from RMB 1.0 million, primarily due to bank loan interest[64] - Interest income from bank deposits rose to RMB 16,194 thousand in 2023 from RMB 7,817 thousand in 2022, an increase of approximately 107%[31] - The company recognized income tax expenses of RMB 466,000 for 2023, compared to a tax credit of RMB 359,000 in 2022, reflecting a shift in tax obligations[35] Shareholder Information - The company reported a basic and diluted loss per share of RMB 0.03 for the year, unchanged from the previous year[9] - The weighted average number of ordinary shares for calculating basic loss per share increased to 92,137,051 in 2023 from 87,234,989 in 2022 due to a share consolidation[36] - A share consolidation was approved, merging every 10 existing shares into 1, effective January 2, 2024[53] - The board did not recommend a final dividend for the year ending December 31, 2023[81] Operational Changes - The company has implemented new and revised international financial reporting standards, which did not have a significant impact on the financial position and performance for the year[14] - The company completed the sale of its subsidiary, Zhangzhou Xingruixiang Supply Chain Management Co., Ltd., on November 3, 2023, with proceeds of approximately RMB 838,000[44] - The company has no forfeited contributions under its retirement benefit plans in China and Hong Kong for the years ended December 31, 2023, and December 31, 2022[34] - The company’s investment properties are recorded at cost less accumulated depreciation and impairment, with no specific figures provided for the year[39] Market Outlook - The IMF warned of a potential global economic slowdown due to high inflation and financial instability, predicting global trade growth of only 3.3% in 2024[73] - The group will continue to adopt a prudent approach and aims to expand its business footprint to stabilize shareholder returns[73]
中科生物(01237) - 2023 - 年度业绩