Financial Performance - The net profit attributable to shareholders for Metallurgical Corporation of China Ltd. in 2023 was RMB 8,670,405 thousand, with undistributed profits amounting to RMB 5,973,377 thousand[1]. - The proposed cash dividend is RMB 0.72 per 10 shares, totaling RMB 1,492,101 thousand, which represents 17.21% of the net profit attributable to shareholders, an increase of 0.47 percentage points from the previous year[1]. - The remaining undistributed profits of RMB 4,481,276 thousand will be used for business development and future distributions[1]. - In 2023, the company achieved a revenue of 633.87 billion yuan and a total profit of 13.765 billion yuan, with a net profit attributable to shareholders of 8.670 billion yuan[13]. - The net profit attributable to shareholders decreased by 15.63% to RMB 8.67 billion in 2023, down from RMB 10.28 billion in 2022[31]. - The net profit after deducting non-recurring gains and losses was RMB 7.55 billion, reflecting a 21.90% decline compared to RMB 9.67 billion in the previous year[31]. - The net cash flow from operating activities significantly dropped by 67.54% to RMB 5.89 billion, compared to RMB 18.15 billion in 2022[31]. - The total comprehensive income attributable to shareholders of the parent company for 2023 was 8,696,981 thousand RMB, down 25.4% from 11,665,520 thousand RMB in 2022[39]. - The basic and diluted earnings per share for 2023 were both 0.33 RMB, compared to 0.45 RMB in 2022, reflecting a decline of 26.67%[39]. - The company's operating revenue for 2023 was CNY 633.87 billion, an increase of CNY 41.20 billion (6.95%) compared to CNY 592.67 billion in 2022[34]. Business Growth and Contracts - The new contract value signed during the year reached 1,424.779 billion yuan, reflecting strong business growth[13]. - The company achieved a new contract amount of CNY 1,424.779 billion, representing a year-on-year increase of 6.04%, with overseas contracts reaching CNY 63.384 billion, up 43.72% year-on-year, marking a historical high[48]. - The company signed new contracts worth CNY 1,424.78 billion, an increase of CNY 81.21 billion (6.04%) from CNY 1,343.57 billion in 2022[34]. - The company has a strong pipeline of projects, with several contracts exceeding 1 billion RMB, indicating robust future revenue potential[74][75]. - The company successfully signed contracts for major projects in key economic regions, including the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, enhancing its competitive strength in these areas[72]. Innovation and Technology - The company has over 51,000 valid patents, indicating significant advancements in technology and innovation[15]. - The company is committed to advancing its "181 Plan" and key non-steel R&D projects to foster innovation and sustainability[15]. - The company has established 28 national-level R&D platforms and has published 72 international standards and 643 national standards[20]. - The company has successfully completed its annual work tasks and achieved expected goals through a three-year action plan for basic management improvement, enhancing nine major business systems[49]. - The company has made significant progress in digital transformation, establishing a digital control platform covering 16 business departments, enhancing governance efficiency[50]. Market Strategy and Expansion - The company plans to enhance its market presence through strategic projects in key economic zones and the Belt and Road Initiative[14]. - The company is actively expanding its overseas market presence, with significant breakthroughs in projects in Bangladesh and Indonesia, reinforcing its leading position in the global nickel ore smelting sector[67]. - The company is focusing on high-quality markets, clients, and projects, while optimizing its business structure[48]. - The company aims to enhance its capabilities in providing new products, technical services, and comprehensive solutions for the transformation and upgrading of traditional industries[176]. - The company is committed to leveraging favorable economic conditions to capture market opportunities and ensure stable growth while managing risks[176]. Environmental and Social Responsibility - The company is committed to environmental protection and safety management, enhancing its ecological practices and safety protocols to mitigate risks associated with production activities[192]. - The total amount of donations made by the company during the reporting period was approximately CNY 4.1477 million, including charitable contributions to various regions and disaster relief funds[200]. - The company is actively pursuing green and low-carbon development opportunities in the ecological environment sector, aiming to become a leader in the industry[95]. - The company has made significant progress in green and low-carbon technology investments, aligning with the dual carbon policy to promote sustainable development in the steel industry[52]. - The company has established a hydrogen-based direct reduction continuous test platform, successfully completing hot-state trial operations, furthering its commitment to low-carbon technology[51]. Risk Management - The company faces risks from macroeconomic fluctuations, industry policies, and changes in material prices that could impact financial performance[112][113][117]. - The company is committed to addressing macroeconomic risks by closely monitoring economic policies and industry trends[184]. - International operations are subject to various risks, including political and economic factors, prompting the company to implement safety plans and risk assessments for overseas projects[191]. - The company has implemented risk control measures for derivative investments, including market risk analysis and liquidity risk management[169]. - The company will strengthen its strategies for managing commodity price risks by enhancing research on market trends and adjusting procurement and sales strategies accordingly[190]. Future Outlook - The outlook for 2024 includes a commitment to complete annual goals and promote further transformation and upgrading of the company[16]. - The company plans to achieve an operating revenue of CNY 660 billion in 2024, representing a 4.13% increase from 2023[183]. - The new contract signing target for 2024 is set at CNY 1,500 billion, which is a 5.28% increase compared to 2023[183]. - The company aims to enhance its core competitiveness by focusing on five key capabilities: strong value creation, strong market competitiveness, strong innovation drive, strong resource allocation, and strong cultural soft power[179]. - The company will strengthen its management and operational capabilities to achieve sustainable and rapid development in 2024[182].
中国中冶(01618) - 2023 - 年度财报