ST海越(600387) - 2022 Q4 - 年度财报

Financial Performance - In 2022, the company's operating revenue was CNY 6,592,675,559.39, a decrease of 20.40% compared to CNY 8,281,948,281.63 in 2021[21] - The net profit attributable to shareholders was CNY 56,041,006.88, down 26.76% from CNY 76,512,136.19 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 46,689,317.26, a decline of 32.59% from CNY 69,259,738.36 in 2021[21] - The net cash flow from operating activities was negative CNY 388,082,306.07, compared to positive CNY 518,530,308.13 in 2021, representing a decrease of 174.84%[21] - Basic earnings per share for 2022 were CNY 0.12, down 25.00% from CNY 0.16 in 2021[22] - The weighted average return on equity was 1.77%, a decrease of 0.64 percentage points from 2.41% in 2021[22] - The company reported a net profit of CNY 18,968,244.20 for the year 2022, with a distributable profit of CNY 846,444,970.44 available for shareholders[111] - The company reported a total of CNY 368.976 million in financial assets, with a fair value loss of CNY 437,835.68 during the reporting period[67] - The company reported a significant increase in sales cash receipts, totaling approximately ¥12.16 billion in 2022, up from ¥9.35 billion in 2021, marking a growth of 30.5%[191] Assets and Liabilities - The total assets at the end of 2022 were CNY 4,503,975,326.55, an increase of 6.15% from CNY 4,242,891,698.73 at the end of 2021[21] - The total liabilities increased from RMB 839.92 million to RMB 1,176.00 million, resulting in an increase in the debt-to-asset ratio from 19.80% to 26.11%[150] - The company's equity attributable to shareholders decreased to CNY 3,115,650,660.47 from CNY 3,215,802,758.56, a decline of approximately 3.12%[178] - The total current liabilities rose to CNY 1,012,249,338.49 from CNY 653,358,156.86, representing an increase of approximately 54.91%[177] - The company’s total assets at the end of 2022 were significantly impacted by the cash flow challenges, leading to a decrease in overall liquidity[195] Cash Flow - The company experienced a significant decline in operating cash flow, with a net cash flow from operating activities of -953.09 million RMB in Q1 2022, improving to 728.69 million RMB in Q4 2022[25] - The cash flow from operating activities showed a net outflow of approximately ¥388.08 million in 2022, compared to a net inflow of ¥518.53 million in 2021[192] - The cash flow from investing activities resulted in a net outflow of approximately ¥288.58 million in 2022, worsening from a net outflow of ¥137.18 million in 2021[192] - The cash flow from financing activities also showed a net outflow of approximately ¥364.39 million in 2022, compared to a net inflow of ¥64.56 million in 2021[192] Business Operations - The oil and gas business in the Zhuji region generated sales revenue of 2.288 billion RMB and a net profit of 34.3795 million RMB in 2022[31] - The North Oil storage and trading business reported a total sales revenue of 1.451 billion RMB and a net profit of 28.6994 million RMB for the year 2022[33] - The company is focusing on expanding its chemical product business line and exploring MTBE export opportunities to stabilize operations amid market fluctuations[31] - The company is actively developing new customer bases and service offerings to enhance storage capacity and improve operational performance[33] - The company is diversifying its bulk trade business, expanding into various energy trade structures including refined oil, chemical products, and coal[75] Investment and Growth - The investment team completed over 100 project analyses and conducted in-depth due diligence on more than 70 projects, resulting in 15 investments and 4 exits or liquidations[34] - The company’s investment strategy has shifted towards high-quality projects due to a cautious investment environment, influenced by external factors like the Russia-Ukraine conflict[39] - The company’s subsidiary, Tongchuan Haiyue New Energy, invested in a 13,000-ton lithium material integration project, with the first phase of 1,000 tons already in production[41] - The company completed 13 investment projects and established 2 new funds while increasing investment in 1 existing fund in 2022[119] Governance and Compliance - The company has established a comprehensive information disclosure and investor relations management system, ensuring timely and accurate disclosure of important information to all shareholders[84] - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[84] - The company has maintained independence in its operations, with no reported conflicts of interest involving controlling shareholders or actual controllers[84] - The company has committed to minimizing related party transactions, ensuring that unavoidable transactions are conducted fairly and transparently[130] - The company has strengthened internal management and auditing processes to prevent fund occupation and ensure asset security[133] Challenges and Risks - The company faced challenges in the oil storage industry due to a shrinking demand for refined oil, leading to strategic adjustments in customer targeting and service offerings[33] - The company acknowledges economic downturn risks due to global economic decline and high domestic oil prices, impacting market demand[77] - The company is addressing industry volatility risks by closely monitoring market dynamics and adjusting business strategies accordingly[78] - The company identified a significant internal control deficiency related to fund transfers to related parties, necessitating improved management and oversight[107] Employee and Management - The company employed a total of 514 staff, with 126 in the parent company and 388 in major subsidiaries[108] - The company emphasizes a performance-based compensation policy, linking employee salaries to company performance and individual contributions[109] - The company conducts regular training programs to enhance employee skills and promote teamwork[110] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 2,272,475 CNY, with an average of 354.69 CNY per person[88] Future Plans - The company plans to enhance its operational safety and management levels in 2023, ensuring stable operations and growth in business performance[73] - The company is focusing on improving cash flow management and exploring new investment opportunities to enhance future performance[197] - The company plans to implement a stock incentive plan in 2022, which includes restricted stock and stock options[99]