Xiamen Kingdomway Group (stock code: 002626) is a high-tech enterprise that focuses on research and development, production, and sales of health food (including health food raw materials and health food terminal products) and feed additives. Its annual report data in 2023 has received much attention from the market. The company's business covers the global market mainly through exports and involves all aspects of the health food industry chain, including raw material supply, formulation production, brand operation, and channel layout, demonstrating the company's competitive advantage and strategic vision for global deployment within the industry.
From the balance sheet, Kingdomway's total assets slightly decreased from 5.425 billion yuan at the beginning of the year to 5.353 billion yuan at the end of the year, a slight decrease of 1.33%. Total liabilities decreased from 1.761 billion yuan at the beginning of the year to 1.417 billion yuan, and the decrease of the total debt has improved the company's financial stability. The asset-liability ratio decreased from 32.45% to 26.47%, indicating a decrease in the company's reliance on debt and a healthier financial structure.
In terms of profits, Kingdomway's revenue in 2023 increased by 3.10% compared to the same period last year, reaching 3.103 billion yuan. Operating profit and net income were 356 million yuan and 276 million yuan respectively, an increase of 13.95% and 12.66% year-on-year, showing the improvement of the company's profitability. Although the gross profit margin decreased from 40.49% to 37.33%, the net profit margin increased from 8.15% to 8.9%, and the return on equity (ROE) increased from 6.36% to 7.27%, indicating an improvement in the overall profitability of the company.
In terms of cash flow, although the net cash flow from operating activities slightly decreased from 695 million yuan in the previous year to 659 million yuan, it still maintained a high level, indicating the stability of the company's operating activities. The net cash flow from investment activities and financing activities changed significantly, reflecting the company's active actions in expanding reproduction and optimizing the financial structure.
In summary, Kingdomway's annual report for 2023 shows that while maintaining business growth, the financial structure has been further optimized, and profitability and cash flow situation maintained stability. Despite facing market uncertainties, Kingdomway has demonstrated strong market competitiveness and good development potential through continuous optimization of product structure and strengthening of global market layout.