YT(600692)2024-04-23 08:41Financial Performance - The net profit attributable to shareholders for 2023 was CNY 2,444,190.72, a decrease of 46.64% compared to CNY 4,580,357.31 in 2022[6]. - The total operating revenue for 2023 was CNY 1,305,275,359.31, representing a year-on-year increase of 6.52% from CNY 1,225,328,518.29 in 2022[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -16,557,583.88, a significant decline from CNY 543,973.74 in 2022[22]. - The company reported a decrease in revenue from its main business activities, with a total of CNY 1,295,823,799.57, up 6.29% from CNY 1,219,146,293.91 in 2022[22]. - The company's basic earnings per share decreased by 46.92% to CNY 0.0069 in 2023 compared to CNY 0.0130 in 2022[24]. - Net profit attributable to shareholders decreased by 46.64% year-on-year, primarily due to a decline in the communication business and reduced gross profit margins[24]. - Revenue increased by 6.52% year-on-year, driven by a rise in trade activities, despite a decrease in real estate business revenue by CNY 132.59 million[24]. - The weighted average return on equity dropped to 0.26% in 2023 from 0.49% in 2022, a decrease of 0.23 percentage points[24]. - The net profit after deducting non-recurring gains and losses plummeted by 3,043.75% to CNY -0.0471 per share in 2023[24]. - The company reported a total profit of 19,001,774.60, with a significant increase in non-recurring gains and losses amounting to 4,036,383.57[32]. Cash Flow and Investments - The net cash flow from operating activities was negative at CNY -210,597,660.13, worsening from CNY -153,936,146.37 in 2022[22]. - The company reported a net cash outflow from operating activities of CNY -455,090,255.47 in Q1 2023, indicating significant cash flow challenges[28]. - The net cash flow from operating activities was -¥210,597,660.13, worsening from -¥153,936,146.37, mainly due to increased project investments[60]. - The net cash flow from investing activities was -¥35,941,714.01, an improvement from -¥40,108,129.77, due to reduced fixed asset purchases[60]. - The net cash flow from financing activities decreased by 124.09% to -¥99,101,338.79, primarily due to loan repayments for real estate projects[60]. - The total cash and cash equivalents at the end of 2023 were 325,710,398.27 RMB, down from 671,351,111.20 RMB at the end of 2022, a decrease of about 51.5%[189]. - Cash inflow from operating activities for the parent company reached 764,091,813.38 RMB in 2023, significantly higher than 225,241,651.68 RMB in 2022, representing an increase of approximately 239.5%[192]. - The cash outflow from investing activities for the parent company was 534,548,451.00 RMB in 2023, compared to 19,265,297.24 RMB in 2022, indicating a substantial increase in investment expenditures[192]. Assets and Liabilities - The total assets at the end of 2023 amounted to CNY 2,969,685,227.64, a slight increase of 0.47% from CNY 2,955,707,422.29 at the end of 2022[23]. - The company's total assets reached CNY 2,969,685,227.64, an increase of 0.47% compared to the previous year[43]. - Total liabilities decreased from CNY 1,966,996,954.85 in 2022 to CNY 1,546,274,027.86 in 2023, a reduction of approximately 21.3%[178]. - Total equity increased from CNY 988,710,467.44 in 2022 to CNY 1,423,411,199.78 in 2023, representing a growth of about 44%[179]. - The company's retained earnings increased from CNY 424,363,095.08 in 2022 to CNY 426,807,285.80 in 2023, a slight increase of about 0.6%[179]. - The total number of ordinary shareholders at the end of the reporting period was 28,247, a decrease from 28,485 at the end of the previous month[146]. Business Operations and Strategy - The company plans to focus on expanding trade activities and improving operational efficiency to counteract declining profits in traditional sectors[24]. - The company has shifted its focus in real estate development from commercial housing to affordable housing, with significant progress on the Longxing No. 38 land plot resettlement project, aiming for completion by June 2026[34]. - The company is actively developing a centralized photovoltaic project, marking its first independently developed large-scale power station, which aims to enhance the integration of aquaculture and solar energy[33]. - The company is exploring opportunities in the real estate market, which is currently experiencing uncertainty due to macroeconomic factors and adjustment cycles[80]. - The company is focused on optimizing the supply chain of the renewable energy sector, aiming to improve collaboration with upstream and downstream partners to reduce costs and enhance competitiveness[82]. - The company is committed to high-quality management of real estate projects, ensuring the delivery of the Changxing No. 38 resettlement housing project by 2026[83]. Governance and Compliance - The company has established and strictly implemented rules for board meetings, independent director systems, and board secretary work guidelines[90]. - The supervisory board consists of four members, including two employee supervisors, ensuring compliance and protection of shareholder rights[90]. - The company maintains transparency in information disclosure, designating the Shanghai Securities Journal and the Shanghai Stock Exchange website for announcements[90]. - The company has improved its internal control system in accordance with regulatory requirements, enhancing the effectiveness of key business processes[91]. - The company has established a compensation and assessment committee to evaluate the remuneration of directors and senior management[100]. - The company has not engaged in any related party transactions that would affect its independence[91]. Environmental and Social Responsibility - The company invested 202.87 million RMB in environmental protection during the reporting period[127]. - The company reduced carbon emissions by 2,550.01 tons through measures such as using clean energy and replacing traditional vehicles with new energy vehicles[129]. - The company made a total donation of 5.94 million RMB for public welfare projects, benefiting 180 individuals[129]. Future Outlook - The company plans to raise up to CNY 570 million through a private placement of A-shares to expand its asset scale[37]. - The company intends to strengthen its market share in the concrete sector by enhancing marketing efforts and tracking key projects in the region[83]. - The company is advancing its financing efforts, including a stock issuance plan and expanding financing channels with financial institutions to improve financing efficiency[84].