Tiancai Holdings (03882) announced its annual results for the year ended December 31, 2023. The group will take...
According to the Zhitong Finance App, Tiancai Holdings (03882) announced its annual results for the year ended December 31, 2023. The group achieved revenue of HK$322 million; gross profit of HK$658.85 million; and gross profit margin of 20.5%, an increase of 2.9 percentage points over the previous year.
According to the announcement, the Group's camera products and related accessories mainly include the following three categories: home surveillance cameras; digital imaging products; and other products. The Group's revenue mainly comes from the sale of such products and other income, such as research and development services and mold fees involved in the products produced by the Group for customers. The Group also generates retail revenue by selling food and beverages through the retail business through artificial intelligence vending machines.
In fiscal year 2023, the retail business through artificial intelligence vending machines achieved a turnover of approximately HK$13.4 million (FY2022: approximately HK$200,000), an increase of approximately 5475.0% over FY2022. The increase is mainly due to an increase in the number of artificial intelligence vending machines in 2023.
The increase in gross margin was mainly due to the increase in gross margin of household surveillance cameras and retail business through artificial intelligence vending machines.