Kidztech Holdings Limited announced in the 2023 annual report that the company's total revenue for the year decreased from RMB 169.4 million in 2022 to RMB 131.4 million in 2023. Gross profit also decreased from RMB 28.3 million to RMB 15 million over the same period. The group's net loss also increased from RMB 76.7 million in 2022 to RMB 98.3 million in 2023. Selling expenses increased by 80.3%, from RMB 900,000 in 2022 to RMB 1.6 million in 2023. However, administrative expenses decreased significantly from RMB 76.1 million in 2022 to RMB 35.1 million in 2023, a decrease of 53.9%. The impairment losses on trade and other receivables increased from approximately RMB 24 million in 2022 to approximately RMB 40.7 million in 2023. Tax expenses were RMB 6.9 million in 2023, compared to a tax credit of approximately RMB 5.4 million in 2022. As of December...Show More

Kidztech Holdings Limited announced in the 2023 annual report that the company's total revenue for the year decreased from RMB 169.4 million in 2022 to RMB 131.4 million in 2023. Gross profit also decreased from RMB 28.3 million to RMB 15 million over the same period. The group's net loss also increased from RMB 76.7 million in 2022 to RMB 98.3 million in 2023. Selling expenses increased by 80.3%, from RMB 900,000 in 2022 to RMB 1.6 million in 2023. However, administrative expenses decreased significantly from RMB 76.1 million in 2022 to RMB 35.1 million in 2023, a decrease of 53.9%. The impairment losses on trade and other receivables increased from approximately RMB 24 million in 2022 to approximately RMB 40.7 million in 2023. Tax expenses were RMB 6.9 million in 2023, compared to a tax credit of approximately RMB 5.4 million in 2022. As of December 31, 2023, the group's capital structure ratio was approximately 42.7%. The group did not make any significant investments, important acquisitions, or sell any subsidiaries in the 2023 fiscal year. The board of directors also did not recommend the final dividend for the 2023 fiscal year. The group's consolidated financial statements have been audited by McMillan Woods (Hong Kong). The group did not purchase, sell, or redeem any company shares during the 2023 fiscal year. In addition, the group has complied with the guidelines for environmental, social, and governance reporting in Appendix C2 of the Listing Rules of the Hong Kong Stock Exchange.