Hengbao Co., Ltd. (Stock Code: 002104), as a leading domestic provider of smart card and payment system solutions, has always been committed to providing high-quality products and services to global customers. In 2023, Hengbao Co., Ltd. ushered in new development opportunities in the payment industry under the continuous changes and positive promotion of policies. The annual report data fully reflects the company's operating results and financial situation in this year.
From the asset-liability data point of view, Hengbao Co., Ltd.'s total assets increased from 2.273 billion yuan at the end of 2022 to 2.397 billion yuan at the end of 2023, an increase of 5.47%. This growth mainly benefited from the company's increase in trading financial assets, reflecting the investment strategy of the company's financial products has achieved certain results. The total liabilities decreased from 317 million yuan at the end of 2022 to 274 million yuan at the end of 2023, and the asset-liability ratio decreased from 13.93% to 11.43%, showing that the company's financial structure was further optimized and the financial stability was strengthened.
In terms of profit data, Hengbao Co., Ltd.'s revenue in 2023 reached 1.262 billion yuan, a year-on-year increase of 22.10%, and the net income attributable to the shareholders of the listed company reached 158 million yuan, a year-on-year increase of 92.37%. This significant growth is mainly due to the strong performance of the company's card-making products and the positive impact of payment industry policies. The gross margin and net margin reached 31.2% and 12.48%, respectively, both of which have improved compared with the same period of the previous year, reflecting the company's enhanced profitability.
Cash flow data also shows the positive changes in the company's operating conditions. The net cash flow from operating activities turned from -172 million yuan in the previous year to 213 million yuan this year, which is mainly due to the increase in operating income and the improvement of operating efficiency. This change indicates that the company's cash flow situation has significantly improved, providing solid cash support for the company's sustained development and subsequent investment activities.
In summary, Hengbao Co., Ltd.'s financial report data for 2023 shows the company's good development momentum in the past year. In many aspects such as asset and liability performance, profit growth, and cash flow improvement, the company has shown strong financial performance and market competitiveness. Looking ahead, Hengbao Co., Ltd. will continue to seize industry development opportunities, optimize products and services, and strive to achieve greater breakthroughs in the new round of development in the payment industry.