Gelonghui, April 1, 丨 China Auto Interior (00048.HK) announced its annual results. For the year ended December 31, 2023, the Group's revenue decreased to approximately RMB 113.7 million, and in 2022 it was approximately RMB 184 million, a decrease of about 38.2%. The decline in the Group's revenue was mainly due to a decrease in revenue from the sale of car carpets.
Due to the increase in production efficiency after the relocation of the production line, the Group's gross profit increased by approximately RMB 11.3 million to approximately RMB 30.8 million for the year ended December 31, 2023.
Profit attributable to company owners was approximately RMB 30 million in 2023, while losses for the same period in 2022 were approximately RMB 78.6 million. The loss was mainly due to the fair value income recorded at fair value of financial assets recorded at fair value for the year ended December 31, 2023, and the net provision for reimbursement of anticipated credit losses of approximately RMB 27.5 million.