On March 26, China Airlines (03931.HK) announced that for the year ended December 31, 2023, the Group's total assets were RMB 105.429 billion, an increase of 16.5% over the previous year, and net assets were RMB 46.386 billion, an increase of 11.6% over the previous year. The Group achieved revenue of approximately RMB 27.06 billion, an increase of 32.5% over the previous year. This increase was mainly due to the release of the Group's production capacity, continuous enrichment of product lines, continued increasing cohesion with core customers in the power battery market, further diversification of supporting customers, strategic cooperation with leading customers in various segments of energy storage systems, and rapid sales growth.
The Group's gross profit increased by 66.9% from RMB 2,103.52 million for the year ended 31 December 2022 to RMB 3,511.52 million for the year ended 31 December 2023. The Group's gross margin increased 2.7 percentage points from 10.3% for the year ended 31 December 2022 to 13.0% for the year ended 31 December 2023.