Gelonghui, January 30 | Yuanlong Yatu (002878.SZ) announced the 2023 annual results forecast. Net profit attributable to shareholders of listed companies during the reporting period was 20 million yuan to 30 million yuan, down 88.05%-82.07% from the same period last year; net profit attributable to mother after deducting non-recurring profit and loss was 15 million yuan to 25 million yuan, down 90.44%-84.06% from the same period last year; basic earnings per share were 0.09 yuan/share — 0.13 yuan/share.
Due to the basic stagnation of customer activity, production and delivery from the end of 2022 to around the Spring Festival in 2023, the company's marketing business revenue for the first quarter of 2023 mainly came from customer marketing demand orders for the fourth quarter of the previous year and the Spring Festival program, and was still weak in the second quarter of 2023, resulting in a significant decline in the company's marketing business performance in the first half of 2023. With the company's business expansion and capacity improvement, performance began to recover rapidly in the third quarter. Due to the late Spring Festival in the Year of the Dragon, delivery of some orders in the fourth quarter was postponed to the first quarter of 2024, and since the Year of the Dragon is the Lunar New Year, many products developed by the company have been sold one after another.
In addition, benefiting from the boom in licensed souvenir sales brought about by the Winter Olympics, the company's licensed souvenir business achieved revenue of 1,116 billion yuan in 2022, becoming the main source of contribution to the current performance. The revenue of the company's licensed souvenir business in 2023 was mainly contributed by the Universiade. The level and scale of revenue generated by the Winter Olympics were far less than that of the Winter Olympics. The high revenue base for licensed souvenirs in 2022 was the main reason for the decline in revenue from the licensed souvenir business in 2023 and the decline in the company's overall revenue. In addition, the company continues to invest in IP resources, design and development, AIGC technology, IP e-commerce operations, and the metaverse. Large investment in related expenses is also an important reason for the decline in the company's performance. The company's total sales expenses, management expenses, and R&D expenses are estimated to be about 370 million yuan in 2023, which is basically the same as the total cost of these three items in 2022 excluding the Winter Olympics precious metals handling fee.