Zhitong Finance App News, Edwin Group (09919) announced results for the year ended December 31, 2023, with revenue of about $967.2 million (RMB, same below), up about 39.2% year on year; net profit margin of about $118 million, up 319.9% year on year; net profit margin increased from 4.1% in FY2022 to 12.2%; profit attributable to parent company owners was about $108 million, up 356.97% year on year; basic profit per share was 14.80 points; proposed to pay final dividend of HK$6.16 per share and final special dividend per share 4.42 HK cents.
According to reports, the Group's gross profit increased by 47.5% from 2022 million yuan in FY2022 to 298.2 million yuan in FY2023, mainly due to increased revenue. Its overall gross margin increased from 29.1% in FY2022 to 30.8% in FY2023. The increase in gross margin was due to improved cost control of the Group's projects.
The announcement said that in 2023, the stabilization of China's macroeconomic economy and the expansion of the consumer service industry created conditions for considerable growth in the marketing economy. Throughout the year, the strategic importance of the Chinese market attracted many owners and management teams from global luxury brands to visit mainland China. This trend not only highlights the importance of the Chinese luxury market, but also brings opportunities for the Group to develop its business.
As a leading high-end luxury brand experience marketing service provider in Greater China, the Group's financial performance reached a record high, showing growth capacity, and the company's superior performance is no longer just outstanding financial performance. More importantly, the results confirm the professionalism and expertise of the company's employees. The Group's success reflects the company's keen insight into market dynamics, understanding of customer needs, and forecasting future market trends.
The Group's strategy focuses on providing innovative, diversified and high-quality marketing services. This policy not only helps the company to thoroughly understand and meet customer needs, but also enables the Group to maintain a leading position in a highly competitive and rapidly changing market environment. The Group's outstanding performance strengthens the company's leading position in the industry and once again affirms the company's long-term commitment to strategic direction and fine management practices.