Production Capacity and Market Share - In 2022, the Group maintained a global coke production market share of 1.6% and 2.2% of China's total output[11]. - The Group signed four new operation management services projects with an annual production capacity of 1,000,000 tons of coke and coking chemicals, 300,000 tons of coal tar, and 100,000 tons of hydrogenated benzene in Shandong Province[11]. - The Group expanded its coke capacity by constructing new coking facilities of 3,000,000 tons per annum in Huhhot, Inner Mongolia[11]. - In 2022, the company maintained a global market share of 1.6% in coke production, down from 1.7% in 2021, and accounted for 2.2% of China's total production, down from 2.4% in 2021[13]. - The company’s production facility in Inner Mongolia is expected to expand coke production capacity by building a new facility with an annual capacity of 3,000,000 tons[13]. - The Group's annual coke production/processing volume was approximately 10.6 million tons in 2022, a decrease from approximately 11.0 million tons in 2021[126]. - The Group's gross annual coke production capacity in Indonesia will be 13.4 million tons, with an equity capacity attributable to the Group of 4.36 million tons per annum[122]. - The company is recognized for its commitment to environmental protection and safety, with several production bases approved as Grade-A enterprises in environmental performance[17]. Financial Performance - The Board recommends a final dividend of RMB 39.8 million for 2022, with a total dividend of RMB 584.1 million, representing no less than 30% of the net annual distributable profits of approximately RMB 1.9 billion[21]. - The total assets of the company as of December 31, 2022, amounted to RMB 46.1 billion, with net assets of RMB 12.6 billion[115]. - The total liabilities of the company as of December 31, 2022, were RMB 33.5 billion, with current liabilities of RMB 25.0 billion[115]. - The basic earnings per share for 2022 were RMB 0.42, reflecting the company's profitability[114]. - The Group achieved a profit of RMB 1.9 billion in 2022 despite the impact of COVID-19[159]. - The Group's total revenue for the year ended December 31, 2022, was RMB 43,139,449, an increase from RMB 39,370,054 in 2021[176]. - Revenue for the year ended December 31, 2022 increased to RMB43,139.4 million compared to RMB39,370.1 million for the year ended December 31, 2021, representing an increase of 4.5%[180]. - Net profit for the year ended December 31, 2022 was RMB1,859.5 million, a decrease of RMB736.9 million or 28.4% compared to RMB2,596.4 million for the year ended December 31, 2021[192]. Revenue and Cost Analysis - Revenue from coke and coking chemicals manufacturing business increased by RMB467.6 million or 2.9% from RMB15,900.8 million to RMB16,368.4 million, primarily due to an increase in the average selling price of coke from RMB2,795.3 per tonne to RMB3,041.7 per tonne[180]. - Revenue from refined chemical manufacturing business increased by RMB1,911.5 million or 14.1% from RMB13,518.8 million to RMB15,430.3 million, driven by increased sales volume of benzene and ammonium sulfate[180]. - Cost of sales for the year ended December 31, 2022 increased to RMB38,864.1 million from RMB33,839.4 million, reflecting a rise of 14.9%[182]. - Cost of sales from the coke and coking chemical manufacturing business increased by RMB1,693.2 million or 13.9% from RMB12,199.5 million to RMB13,892.7 million, primarily due to rising market prices for coking coal[182]. - The Group's total gross profit decreased by approximately RMB1,255.3 million or 22.7% from approximately RMB5,530.6 million for the year ended December 31, 2021 to approximately RMB4,275.3 million for the year ended December 31, 2022[184]. Strategic Initiatives and Future Plans - The company plans to expand its market share of key products through operational management and mergers and acquisitions in 2023[19]. - The company aims to enhance production lines for coke and refined chemicals while further developing new materials and new energy products such as caprolactam (CPL) and hydrogen-based products[19]. - The Group aims to maintain its leading position in the coke and refined chemicals industry and create significant value for shareholders[124]. - The Group plans to increase its market share from 1.6% to a high single-digit or even double-digit percentage in the independent coke producer and supplier industry in the next few years[161]. - The Group is actively participating in hydrogen industrialization plans in Hebei and Inner Mongolia, aiming to become a clean and low-carbon hydrogen energy supplier[128]. Operational Efficiency and Innovation - The company has completed over 60 digitalization projects with an investment of approximately RMB 970 million to enhance automation and information technologies[18]. - The company focuses on innovation in production and energy efficiency to improve manufacturing processes and reduce environmental impact[147]. - The Group established a centralized procurement center in December 2022, expected to reduce manufacturing costs by RMB 100 million per annum[158]. - The Group's overall automation rate is targeted to reach 98%, with coke and coking chemicals automation rate at 100%[155]. - The company utilizes advanced technologies such as big data and intelligent manufacturing in its operations to enhance efficiency[148].

[0 -> 28] 2022年年度业绩发布会本次会议将以现场电话和视频方式进行会议即将开始您的话筒已经处于静音状态感谢各位的配合首先请允许我介绍本次与会的管理层他们分别是董事长兼行政总裁杨雪刚先生 [30 -> 53] 執行董事兼副總裁王鳳山先生執行董事兼副總裁韓勤亮先生執行董事兼滄州園區總經理楊璐先生公司秘書何佩林先生通過視頻端參會 [56 -> 85] 現在有請管理層進行2022年年度業績情況分享有請尊敬的各位股東各位分析師投資人和銀行家朋友們尊敬的楊曉剛董事長和公司參會的各位領導各位同仁歡迎大家蒞臨中國續航2022年度業績發布會現在由我向大家介紹本次業績發布會的主要內容 [86 -> 113] 分为公司概览业绩表现有亮点和发展展望四个部分非常不平凡的2022年过去了他结束的不仅仅是通常意义上的一年还结束了为期三年的给世人带来各种异样艰难的肆虐传球的世纪疫情地缘政治撕裂地区冲突增加 [115 -> 139] 各种矛盾危机凸现严重影响了各国经济也影响了全球的各类企业全球能源格局突变原材料价格飞涨所有企业都受到了严重的冲击中国西洋正是在这种急速变化的环境下稳健经营保持了业务的快速扩张 [141 -> 171] ...

Financial Performance - For the year ended December 31, 2022, the revenue was RMB 43,139.4 million, an increase of 9.6% compared to 2021[2] - The profit attributable to shareholders for the year ended December 31, 2022, was RMB 1,855.1 million, a decrease of 29.0% from 2021[2] - Basic earnings per share for the year ended December 31, 2022, were RMB 0.42, down 31.1% from 2021[4] - Gross profit for the year ended December 31, 2022, was RMB 4,275.3 million, down from RMB 5,530.6 million in 2021[3] - Operating profit for the year ended December 31, 2022, was RMB 2,718.1 million, compared to RMB 3,540.8 million in 2021[3] - Total comprehensive income for the year ended December 31, 2022, was RMB 1,889.3 million, down from RMB 2,605.8 million in 2021[4] - The total profit before tax for the group was RMB 2,203,483,000, indicating a strong financial performance[24] - The company reported a pre-tax profit of RMB 2,203,483 thousand for 2022, down 31.1% from RMB 3,198,254 thousand in 2021[26] - Net profit for the year ended December 31, 2022, was RMB 1,859.5 million, a decrease of RMB 736.9 million or 28.4% compared to RMB 2,596.4 million for the year ended December 31, 2021[108] Dividends - The board proposed a final dividend of RMB 0.9 per share, totaling RMB 39,817,000, subject to shareholder approval[2] - The company declared a final dividend of RMB 0.9 per share for the year ended December 31, 2022, totaling RMB 39,817,000, subject to shareholder approval[35] - The final dividend distribution ratio is based on the 2022 operating performance, recent trends in China's economic development, and future development needs, with a minimum of 30% of the annual distributable profit for 2022[123] Assets and Liabilities - Non-current assets as of December 31, 2022, amounted to RMB 32,713.8 million, an increase from RMB 24,634.1 million in 2021[5] - Current liabilities as of December 31, 2022, were RMB 25,047.1 million, compared to RMB 16,840.5 million in 2021[6] - Total equity attributable to owners of the company as of December 31, 2022, was RMB 12,110.4 million, up from RMB 10,967.8 million in 2021[6] - The group’s total assets, including interests in joint ventures and associates, amounted to RMB 44,047,467,000, demonstrating a solid asset base[24] - The total liabilities reported were RMB 30,834,407,000, indicating a manageable debt level relative to assets[24] - Total bank and other loans reached RMB 20,228,673,000 as of December 31, 2022, compared to RMB 13,586,680,000 as of December 31, 2021, marking an increase of about 48.6%[54] Revenue Segments - The total revenue for the group reached RMB 45,136,474,000, with significant contributions from the coking and coking products segment at RMB 18,138,685,000 and fine chemical products at RMB 15,657,069,000[24] - Revenue from the coking and coking products segment increased by RMB 467.6 million or 2.9% to RMB 16,368.4 million for the year ended December 31, 2022[93] - Revenue from the fine chemicals segment rose by RMB 1,911.5 million or 14.1% to RMB 15,430.3 million for the year ended December 31, 2022[93] - The trading segment reported revenue of RMB 11,223,815,000, contributing to the overall performance of the group[24] - The operating management segment generated revenue of RMB 62,035,000, reflecting its role in providing management services to third-party factories[24] Cash Flow and Investments - Cash generated from operating activities decreased to approximately RMB 3,163.7 million for the year ended December 31, 2022, down from approximately RMB 4,205.7 million for the year ended December 31, 2021, mainly due to reduced profits[111] - Cash used in investing activities increased from approximately RMB 5,127.1 million for the year ended December 31, 2021, to approximately RMB 9,180.6 million for the year ended December 31, 2022, mainly due to payments for acquisitions and increased capital expenditures[112] Operational Highlights - The company reported a total production/processing volume of approximately 10.6 million tons of coke in 2022, a decrease from 11.0 million tons in 2021[66] - The annual production/processing volume of fine chemical products decreased from approximately 3.86 million tons in 2021 to about 3.64 million tons in 2022[66] - The company produced 384.2 thousand tons of caprolactam and 3.94 million cubic meters of hydrogen energy products in 2022[66] Corporate Governance - The company has established a high standard of corporate governance to enhance shareholder interests and ensure compliance with all mandatory provisions of the corporate governance code[118] - The audit committee reviewed the audited consolidated financial statements for the year ending December 31, 2022, ensuring compliance with accounting principles and internal controls[122] Future Outlook - The company anticipates a rebound in the Chinese economy and will continue to monitor the situation's impact on operations and production[89] - The company plans to continue expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[24]

Financial Performance - Revenue for the six months ended June 30, 2022 was approximately RMB22,530.1 million, representing an increase of approximately 21.1% compared to the corresponding period in 2021[12]. - Profit attributable to owners of the Company for the six months ended June 30, 2022 was approximately RMB1,737.0 million, representing an increase of approximately 0.8% compared to the corresponding period in 2021[12]. - Basic earnings per share for the six months ended June 30, 2022 was RMB39.14 cents, representing a decrease of approximately 5.9% compared to the corresponding period in 2021[12]. - Total revenue for the six months ended June 30, 2022, increased to RMB22,530.1 million, up from RMB18,599.6 million for the same period in 2021, representing a growth of 10.4%[56]. - The Group recorded a net profit of RMB1,736.0 million for the six months ended June 30, 2022, representing an increase of RMB38.6 million or 2.3% compared to RMB1,697.4 million for the same period in 2021[76]. - Profit before taxation decreased by RMB17.4 million or 0.8% from RMB2,103.8 million for the six months ended June 30, 2021 to RMB2,086.4 million for the six months ended June 30, 2022[74]. - The Company reported finance costs of RMB 477,960 for the period, an increase from RMB 393,449 in the same period of 2021, representing a rise of about 21.5%[152]. - The gross profit margin decreased to 13.4% in 2022 from 17.3% in 2021, while the net profit margin fell to 7.7% from 9.1%[51]. Dividends and Shareholder Returns - The Directors declared interim dividends of RMB12.30 cents per share for the six months ended June 30, 2022, with a total dividend amount of RMB545,874,000[13]. - An interim dividend of RMB12.30 cents per share was declared, totaling RMB545,874,000 for the reporting period[19][22]. - The company recognized dividends for distribution totaling (279,153), reflecting shareholder returns[161]. Production Capacity and Expansion - The Group maintained its position as the world's largest independent producer and supplier of coke by volume in 2021 according to Frost & Sullivan[15]. - The Group is the world's largest independent producer and supplier of coke, and the largest producer of industrial-naphthalene-based phthalic anhydride and coke-oven-gas-based methanol in China as of 2021[16][17]. - As of January 1, 2022, the Group's annual production capacity of coke was approximately 11.05 million tons, with expansions in Huhhot and Sulawesi Production Bases ongoing[25]. - The trial run of the first phase of the coke production facility in Huhhot, with an annual capacity of 1,500,000 tons, was completed, and the remaining capacity is expected to be completed by Q1 2023[25]. - The Group aims to achieve an annual production capacity of 750,000 tons of caprolactam (CPL) by the end of 2022, positioning itself as one of the leading producers globally[26]. - The expansion plans in the Sulawesi Production Base are expected to be completed in different phases by mid-2023 and early 2024[25]. - The Group's annual coke production capacity was approximately 11.05 million tons as of January 1, 2022, with ongoing expansions in Hohhot and Sulawesi expected to complete by mid-2023 and early 2024 respectively[27]. - The Group's caprolactam production capacity is projected to reach 750,000 tons by the end of 2022, positioning it among the world's leading producers[27]. Financial Position and Liquidity - As of June 30, 2022, the Group's bank deposits and cash amounted to approximately RMB4.5 billion, an increase of 28% from RMB3.5 billion as of December 31, 2021[46]. - The Group's gearing ratio increased to 1.6x as of June 30, 2022, compared to 1.5x at the end of 2021[49]. - Cash and cash equivalents at the end of the period were RMB2,125.9 million as of June 30, 2022, down from RMB3,950.1 million at the end of the same period in 2021[86]. - The Group's liquidity is primarily supported by cash flows from operating activities, bank loans, and proceeds from previous offerings[78]. - Total borrowings increased by approximately RMB6.4 billion, or 46.8%, to approximately RMB19.9 billion as of June 30, 2022, from RMB13.6 billion as of December 31, 2021, primarily due to an increase in bank loans[93][94]. Cost and Revenue Analysis - Cost of sales for the six months ended June 30, 2022, increased to RMB19,517.0 million, up from RMB15,387.8 million in 2021, reflecting a rise of 27.6%[61]. - Revenue from coke and coking chemicals manufacturing rose by RMB1,556.3 million or 20.2%, from RMB7,706.4 million in 2021 to RMB9,262.7 million in 2022, driven by an increase in average selling price from RMB2,342.1 per ton to RMB3,218.7 per ton[56]. - Revenue from refined chemical manufacturing increased by RMB1,142.4 million or 18.7%, from RMB6,103.5 million in 2021 to RMB7,245.9 million in 2022, due to higher average selling prices and sales volumes of key products[57]. - Cost of sales from coke and coking chemical manufacturing increased by RMB1,623.9 million or 29.5%, from RMB5,509.3 million in 2021 to RMB7,133.2 million in 2022, primarily due to rising market prices for coking coal[61]. - Cost of sales from refined chemical manufacturing rose by RMB1,299.2 million or 23.7%, from RMB5,471.1 million in 2021 to RMB6,770.3 million in 2022, driven by increased purchase prices of raw materials[61]. Strategic Initiatives and Partnerships - The Group entered into a new operation management agreement for integrated sales and marketing services with an independent third party in Henan Province during the reporting period[20][23]. - The Group's growth strategy includes the provision of operation management services and the formation and acquisition of entities in both China and overseas[18]. - The Group expanded its geographical layout to Indonesia by establishing three joint ventures, with production expected to commence gradually from mid-2023[32]. - On March 24, 2022, the company entered into a partnership agreement to establish Wuhu Changyu Investment Centre, focusing on investment activities in the coal industry, including equity investment, debt investment, mergers and acquisitions, and restructuring[103]. - An investment agreement was signed on July 27, 2022, for an additional capital injection of RMB600 million to Hebei Risun Energy, enhancing strategic cooperation and competitiveness[105][106]. Environmental Commitment - The Group is committed to carbon neutrality, implementing measures to reduce carbon emissions and promote green practices in the coke and chemical industry[35]. - The Group is actively participating in hydrogen industrialization plans in various cities, aiming to become a clean and low-carbon hydrogen energy supplier[44]. Employee and Governance - As of June 30, 2022, the company had 7,644 full-time employees, an increase from 6,972 employees as of June 30, 2021[116]. - The remuneration policy for employees is based on merit, qualifications, and competence, with directors' emoluments set by the Remuneration Committee[116]. - The company has complied with the Corporate Governance Code throughout the reporting period, except for the separation of the roles of chairman and CEO[134]. - Mr. Yang Xuegang serves as both chairman and CEO, overseeing overall management and business development since the company's establishment in 1995[135].

Business Segments and Performance - Risun's core business segment is coke and coking chemicals, which has supported the company's rapid development for 27 years since its founding[11]. - The company operates in multiple segments including refined chemicals, operation management services, trading, and hydrogen products, creating synergies across its business[9]. - The coke and coking chemicals business has shown consistent operational data over the past three years, indicating stability and growth potential[11]. - Risun Group's coke production volume in 2021 was approximately 1,105,000 tonnes, generating revenue of RMB 159.01 million, with a gross profit of RMB 37.01 million, maintaining a market share of 2.4% in China[13]. - The refined chemicals business produced 386,000 tonnes in 2021, with revenue of RMB 125.79 million and a gross profit of RMB 12.10 million, reflecting a year-on-year revenue growth of 115.2%[16]. - The trading business saw significant growth, with a business volume of 1,122,000 tonnes in 2021, resulting in revenue of RMB 96.89 million and a gross profit of RMB 5.81 million, marking a year-on-year revenue increase of 109.58%[21]. - The hydrogen products business achieved external sales of 1,960,000 cubic metres in 2021, generating revenue of RMB 0.21 million and a gross profit of RMB 0.03 million[23]. - In 2021, Risun Group's total operating volume reached 2,852,000 tonnes, with revenue of RMB 384.30 million and a net profit attributable to the parent of RMB 26.13 million, reflecting a year-on-year revenue growth of 94.24%[26]. - The completion of the acquisition of the Shandong project in January 2021 contributed significantly to the revenue increase, as it was consolidated into the coke and refined chemicals business segments[27]. Market Position and Opportunities - China's overall coke production capacity is approximately 540 million tonnes, with the industry operating at 86% capacity, indicating a significant opportunity for industry consolidation[28]. - The market share of Risun Group in the coking industry is only 2.4%, indicating significant room for growth through industry consolidation[30]. - There is a significant opportunity for upgrading and integrating 24% of the coking capacity in China to more advanced and environmentally friendly facilities[30]. - The chemicals industry in China comprises over 1,200 product types, indicating vast potential for Risun to improve its scale, product variety, and profitability[34]. - The Group aims to enhance its market share in coke and refined chemicals through operational management, mergers and acquisitions, and joint ventures with well-known enterprises[174]. Financial Performance - Net profit attributable to the parent company reached RMB 2,613 million in 2021, reflecting a 58.08% increase over 2020[117]. - The company's market capitalization as of December 31, 2021, was HK$21.0 billion, an increase of 87.51% from its listing capitalization of HK$11.2 billion in March 2019[117]. - Total revenue for the year ended December 31, 2021, increased to RMB 38,430.4 million, up 94.4% from RMB 19,784.9 million for the year ended December 31, 2020[188]. - Revenue from coke and coking chemicals manufacturing increased by RMB 7,185.2 million or 82.4%, reaching RMB 15,900.8 million for the year ended December 31, 2021, primarily due to an increase in the average selling price of coke from RMB 1,698.3 per tonne to RMB 2,795.3 per tonne[188]. - Gross profit for the year ended December 31, 2021, increased by approximately RMB 2,306.8 million or 71.6%, reaching approximately RMB 5,530.2 million[190]. - The Group's net profit has increased for three consecutive years, rising from RMB 1.4 billion in 2019 to RMB 2.6 billion in 2021[177]. Strategic Initiatives and Growth Plans - The company aims to achieve better performance by reflecting on its past year's highs and lows and focusing on future growth strategies[8]. - The company has developed and implemented five-year and ten-year development plans to ensure a clear direction for future growth[78]. - The company is focusing on expanding its hydrogen products business and establishing hydrogen refueling stations to support rapid growth[105]. - The company aims to remain market-oriented, focusing on customer satisfaction and continuous value creation[99]. - The company plans to increase production capacity with the Cangzhou Risun caprolactam phase two project expected to add 140,000 tonnes per year starting August 2022[102]. Environmental and Operational Standards - Risun's environmental protection standards are recognized as the highest in China, exceeding national standards, which has led to government recommendations for its operation management services[44]. - The coking and chemical industries face significant pressure regarding environmental protection and safety, requiring substantial capital investment and high technical standards[46]. - The Group's environmental measures include resource recovery and re-utilization during the coking process, minimizing negative environmental impacts[173]. - The company has reached the highest international and domestic standards in safety and environmental friendliness, contributing to its competitive advantage[84]. Employee and Organizational Development - As of December 31, 2021, Risun had a total of 7,678 employees, with 21.83% being vocational graduates, 24.04% undergraduates, and 3.20% postgraduates[49]. - The focus on continuous employee training has led to a well-qualified workforce, contributing to ongoing improvements in production quality[50]. - The company has established 17 professional technical committees to drive technological enhancement and R&D innovation[49]. Mergers, Acquisitions, and Joint Ventures - In 2019, Risun acquired 55% equity interest in the coking company of China Gas Group in Inner Mongolia, and in 2021, it acquired six companies under the former Shandong Hongye Group[56]. - The Group entered into three new operation management agreements and three joint venture agreements to expand its business presence in Shanxi Province, Jilin Province, and Sulawesi Province, Indonesia[153]. - The acquisition of Wuhu Shunri Xinze Equity Investment Partnership in January 2021 marked the first major acquisition since the Group's listing in March 2019[153]. Challenges and Market Dynamics - Market fluctuations and policy uncertainties have created operational pressures, affecting profitability across the chemical industry[51]. - The coke industry is undergoing supply-demand reform, which is expected to continue into 2022, aimed at eliminating high-polluting coke production capacity[175]. - Coking furnaces of 4.3 meters or below in China ceased operation since December 2020, impacting the overall coke supply dynamics[175].