ZJLD: 2024 ANNUAL REPORT

ZJLD Group announced its financial results for the year ending December 31, 2023. During the year, the group's revenue was 1.538 billion RMB, a decrease of 10.4% year-on-year; the profit before tax was 1.894 billion RMB, down 34.4% year-on-year; the income tax expense was 0.571 billion RMB, an increase of 2.2% year-on-year. The Board of Directors proposed a final dividend of 0.21 HKD per share, an increase of 16.7% from 0.18 HKD per share for the same period last year.During the period, employee costs rose to 2.224 billion RMB, an increase of 26.6% year-on-year, mainly due to the implementation of the Stock-based Incentive plan following the initial public offering. In October 2023, the group granted 0.117 billion restricted shares to directors and employees. The...Show More

ZJLD Group announced its financial results for the year ending December 31, 2023. During the year, the group's revenue was 1.538 billion RMB, a decrease of 10.4% year-on-year; the profit before tax was 1.894 billion RMB, down 34.4% year-on-year; the income tax expense was 0.571 billion RMB, an increase of 2.2% year-on-year. The Board of Directors proposed a final dividend of 0.21 HKD per share, an increase of 16.7% from 0.18 HKD per share for the same period last year.During the period, employee costs rose to 2.224 billion RMB, an increase of 26.6% year-on-year, mainly due to the implementation of the Stock-based Incentive plan following the initial public offering. In October 2023, the group granted 0.117 billion restricted shares to directors and employees. The value of inventory increased to 7.503 billion RMB, up 17.5% compared to the same period last year; accounts receivable rose to 0.418 billion RMB, an increase of 72.1% year-on-year.The group continues to strengthen risk management by controlling liquidity risk through centralized funds management and establishing a mechanism for MMF risk management to address Forex risk. At the same time, the group is actively expanding its Baijiu production facilities, strengthening its distribution network and sales channel construction, and investing in research and development innovation to continuously enhance corporate governance levels. Cash and cash equivalents remain at a robust level of 5.65 billion RMB.