Summary by Moomoo AI
Bai Rong Yunchao (the “Company”) announces audited consolidated results for the year ended December 31, 2023 and announces a change of compliance advisor. Mr. Zhang Shaofeng, Chairman of the Company's Board of Directors, said that the company achieved strong growth in 2023, with annual revenue of RMB2,680.92 million, an increase of 31% year-on-year. Among them, BaaS business revenue grew 38% year-on-year to RMB1,789.67 million, mainly driven by deeper collaboration with customers and rapid growth in transaction size. Gross profit was 73% and operating profit increased 48% to RMB346.77 million. Year-on-year profit increased 46% to RMB335.26 million. The Company remains confident in its performance and outlook and repurchased a total of 20,732,500 Class B shares from the public market during the reporting period for a total repurchase amount of HK$219.63 million. In addition, Cathay Junan Capital Limited has been appointed as a new compliance consultant.