CC GAS(600333)2024-04-12 16:00Financial Performance - The company's operating revenue for 2023 was CNY 2,308,438,779.72, representing a year-on-year increase of 21.75% compared to CNY 1,896,089,675.28 in 2022[21]. - The net profit attributable to shareholders of the listed company was a loss of CNY 67,720,781.37, an improvement from a loss of CNY 98,618,389.94 in the previous year[21]. - The basic earnings per share for 2023 was -CNY 0.11, an improvement of 31.25% from -CNY 0.16 in 2022[22]. - The weighted average return on net assets increased by 1.36 percentage points to -3.41% in 2023 from -4.77% in 2022[22]. - The total comprehensive income for 2023 was CNY -66,645,432.44, an improvement from CNY -90,879,500.86 in 2022, indicating a positive trend in overall financial performance[175]. - The total comprehensive income for the current period showed a decrease of CNY 67,689,677.81, reflecting a significant decline in profitability[183]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 61.63% to CNY 55,133,163.40 from CNY 143,684,870.30 in 2022[21]. - Cash inflow from operating activities increased to CNY 2,688,824,669.79 in 2023, compared to CNY 2,059,589,535.79 in 2022, demonstrating stronger cash generation capabilities[176]. - The ending cash and cash equivalents balance for 2023 was RMB 521,619,164.67, up from RMB 274,683,275.87 in 2022, reflecting a growth of approximately 89.8%[177]. - Cash and cash equivalents increased by RMB 246,935,888.80 in 2023, compared to an increase of RMB 95,891,470.14 in 2022, indicating improved liquidity[177]. - The company reported a net cash flow from operating activities of -RMB 129,098,014.21 in 2023, contrasting with a positive cash flow of RMB 107,239,260.39 in 2022, highlighting operational challenges[180]. Assets and Liabilities - The total assets of the company increased by 13.54% to CNY 6,881,721,232.10 at the end of 2023, compared to CNY 6,060,953,179.57 at the end of 2022[21]. - Total liabilities were reported at CNY 4,888,477,669.99, compared to CNY 4,001,308,208.84 in the previous year, marking an increase of around 22.1%[165]. - The company's short-term borrowings rose to CNY 1,620,570,000.00 from CNY 1,237,200,000.00, which is an increase of approximately 31%[165]. - The company's total equity attributable to shareholders was CNY 1,949,257,149.30, a decrease from CNY 2,018,541,539.97 in 2022, representing a decline of about 3.4%[165]. - The company's accounts receivable increased to CNY 180,277,927.17 from CNY 120,122,975.64, which is an increase of approximately 50%[163]. Operational Highlights - The number of gas users reached 1.7477 million, with 73,100 new gas connections in 2023[29]. - The annual natural gas sales volume was 557 million cubic meters, representing a growth of 5.7% compared to the previous year[29]. - The company completed the renovation of 51.92 kilometers of old pipelines and 1.0268 million valve and pipeline upgrades[30]. - The company secured government funding support of 204.2527 million RMB for gas facility renovations, reducing its expenditure[32]. - The company maintained a 100% proactive inspection rate and reported no responsibility accidents throughout the year[30]. Market and Strategic Initiatives - The company is focusing on green development and expanding its market presence while enhancing service quality and safety management[28]. - The company aims to deepen its focus on gas business while expanding engineering, comprehensive energy, and extended service sectors to drive overall performance growth[44]. - The company is actively developing zero-carbon park projects and comprehensive energy projects, with an increasing installed capacity for heating services[42]. - The company plans to expand its user base and increase average gas consumption per household by targeting large boiler conversions and other initiatives[76]. - The company will innovate in energy utilization, including expanding heating services and developing solar energy projects within the province[76]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with laws and regulations, and maintaining transparency in operations[83]. - The board of directors consists of 9 members, including 4 independent directors, ensuring compliance with governance standards[85]. - The company has established a robust insider information management system to prevent misuse and ensure confidentiality[86]. - The company held its annual shareholders' meeting on June 26, 2023, where key resolutions were passed, including the approval of the 2022 financial statements[89]. - The total compensation for the board members and senior management during the reporting period amounted to 688.47 million CNY[94]. Social Responsibility and Environmental Impact - The company reduced carbon emissions by 77,000 tons, equivalent to planting 96,000 trees, by supplying 557 million cubic meters of natural gas in 2023[118]. - A total of 1,321 households in old residential areas transitioned from bottled liquefied petroleum gas to natural gas in 2023, demonstrating the company's commitment to social responsibility[121]. - The company invested 400,200 RMB in poverty alleviation and rural revitalization projects, benefiting 2,414 people[123]. - The company conducted 306 safety promotion activities, distributing 1.05 million safety materials to enhance gas safety awareness among users[122]. - The company has committed to green development, focusing on energy-saving renovations and the use of clean energy[118].