Financial Performance - The group recorded revenue of RMB 1,688.4 million for the year 2024, a decrease of 12.8% compared to RMB 1,935.6 million in 2023[3]. - Profit attributable to shareholders increased by 3.5% to RMB 85.1 million in 2024, up from RMB 82.2 million in 2023[3]. - EBITDA for 2024 was RMB 305.0 million, down 17.8% from RMB 371.0 million in 2023[3]. - Total comprehensive income for the year was RMB 93.8 million, down from RMB 108.0 million in 2023[6]. - The gross profit for 2024 was RMB 49.7 million, a decline of 15.5% from RMB 58.8 million in 2023, with a gross margin of 2.9%[41]. - The total segment profit for the year was RMB 320,176,000, compared to RMB 326,528,000 in 2023, indicating a slight decrease of 1.1%[22]. - The pre-tax profit for the year was RMB 116,274,000, compared to RMB 99,868,000 in 2023, showing an increase of 16.4%[29]. - The company reported other income and gains of RMB 54,832,000, down from RMB 69,729,000 in the previous year, a decrease of 21.4%[27]. - The company's net profit attributable to shareholders for the year was RMB 85,066,000, an increase from RMB 82,161,000 in 2023, representing a growth of approximately 3.5%[33]. - The total income tax expense for the year was RMB 31,329,000, significantly higher than RMB 7,493,000 in 2023, indicating a substantial increase in tax obligations[9]. Business Segments - The clean energy and new energy business segment generated revenue of RMB 9.1 million in 2024, with a segment profit of RMB 7.5 million[3]. - The city gas operation segment generated revenue of RMB 928,085,000, up from RMB 915,202,000 in 2023, reflecting a growth of 1%[26]. - The natural gas trading and distribution segment reported revenue of RMB 751,199,000, down 26.4% from RMB 1,020,417,000 in the previous year[26]. - The clean energy and new energy business segment contributed RMB 9,147,000 in revenue, which was not present in the previous year[26]. - The company began operations in the integrated clean energy and new energy business, establishing it as a new reportable segment during the year[21]. Assets and Liabilities - Non-current assets totaled RMB 3,554.1 million as of December 31, 2024, an increase from RMB 3,419.7 million in 2023[7]. - Current liabilities increased to RMB 2,871.5 million in 2024 from RMB 2,078.7 million in 2023[8]. - Total equity attributable to shareholders rose to RMB 1,355.8 million in 2024, compared to RMB 1,261.9 million in 2023[8]. - The group's current liabilities as of December 31, 2024, are approximately RMB 1.97 billion[10]. - Total assets as of December 31, 2024, were RMB 44,506 million, with a debt-to-asset ratio of 66.7%, down from 68.9% in 2023[71]. - The total borrowings as of December 31, 2024, were RMB 23,339 million, with a leverage ratio of 52.4%, down from 53.9% in 2023[71]. Financing and Capital Structure - The group has secured a revolving loan of HKD 1 billion from a subsidiary and a preliminary offer for a syndicated loan of RMB 1 billion from a major bank[12]. - Financing costs decreased to RMB 110,664,000 from RMB 173,735,000, a reduction of 36.3%[28]. - The company plans to continue seeking low-interest debt financing to reduce overall interest costs[73]. - The company has utilized 100% of the funds raised from the capital increase and asset injection plan, totaling RMB 1,494.5 million[74]. Corporate Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and have been restated to reflect the change in presentation currency[13]. - The audit committee has reviewed the financial statements and confirmed compliance with accounting principles[91]. - The company has adopted high standards of corporate governance and complied with the relevant codes throughout 2024[87][88]. - The board has proposed amendments to the company's articles of association, pending shareholder approval[93]. Strategic Focus and Future Outlook - The company is focused on developing and operating integrated clean energy and new energy businesses[11]. - The group anticipates sufficient financial resources to continue operations based on past performance and banking relationships[10]. - The company is actively expanding its clean energy business and enhancing its natural gas supply capabilities to contribute to the new energy supply landscape[39]. - The group is focusing on the dual carbon strategy and aims to strengthen its position as a comprehensive clean energy service provider by enhancing its natural gas and renewable energy business[53]. - The company is committed to optimizing its energy structure and improving energy efficiency in response to national policies promoting green and low-carbon development[39]. Shareholder Returns - The board did not recommend a final dividend for 2024, consistent with 2023[3]. - The company will not declare dividends for the years ending December 31, 2024, and 2023, indicating a focus on reinvestment[32]. - The average number of ordinary shares issued during the year remained stable at 22,736,114,715 shares, with no adjustments made for diluted earnings per share due to the absence of convertible bonds[33]. Employee and Operational Metrics - The number of employees decreased to 564 as of December 31, 2024, from 677 in 2023[75]. - The company added 33,084 new gas pipeline users in 2024, bringing the total to 569,369 users[42]. Awards and Recognition - The group received the "ESG Environmentally Friendly Excellence Enterprise" award, reflecting its commitment to sustainable development and improved recognition in the capital market[52].
北京燃气蓝天(06828) - 2024 - 年度业绩