On January 31, Ge Longhui (300785.SZ) announced its 2023 annual results forecast. Net profit attributable to shareholders of listed companies during the reporting period was 67.35 million yuan - 77.83 million yuan, down 20.67% to 8.32% from the same period last year; net profit profit after deducting non-recurring profit and loss was 5520 million yuan - 65.68 million yuan, down 17.33% to 1.64% from the same period last year.
During the reporting period, the company's revenue continued to maintain a steady growth trend, but net profit declined by a certain margin. The main reasons are as follows:
1. During the reporting period, the company was firmly optimistic about the strategic opportunities of AIGC and overseas business, continued to increase investment in various resources such as manpower and computing power around the above two fields, resolutely promoted the transformation and upgrading of “what is worth buying” in the consumer content community, and the next-generation product layout with “dialogue shopping robots” as the core, and began investing resources to launch overseas strategies.
2. During the reporting period, the company continued to increase cooperation with brand customers, especially first-tier brand customers. In 2023, the company will focus on developing brand customers in some key areas and exploring innovative marketing models and marketing products with brand customers. Although it brings about an increase in costs, it is more conducive to the long-term steady development of the company's business model.
3. In the reporting period, on a quarterly basis, the decline in the company's annual net profit was mainly affected by the first three quarters.
4. During the reporting period, the company estimated that the impact of non-recurring profit and loss on net profit was about $12.15 million, mainly the revenue obtained from receiving government subsidies, VAT deductions, and the company's cash management.