Summary by Futu AI
China Retail announced its annual results for the year ended December 31, 2023, with sales revenue falling sharply to RMB647 million, and gross profit rising to 26.89%, a loss attributable to parent company owners decreasing to RMB10,057 million and a basic loss per share of RMB22.3 cents. Net cash flow from operating activities realized for the full year was RMB1,113 million. The company faces challenges such as current liabilities exceeding current assets, overdue borrowings and legal action, but management is taking steps to improve its financial situation, including debt restructuring, asset sales, etc. Independent auditors are unable to express an opinion on their ability to operate on a continuing basis. The Board of Directors does not recommend the distribution of a final dividend.