Ye Chiu Resources(601388)2024-04-26 13:25Financial Performance - In 2023, the company's operating revenue was CNY 6,796,644,426.21, a decrease of 11.27% compared to CNY 7,659,813,637.79 in 2022[22]. - The net profit attributable to shareholders was CNY 132,902,874.88, down 65.15% from CNY 381,407,102.22 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 142,936,258.56, a decrease of 60.65% compared to CNY 363,212,968.72 in 2022[22]. - The company's cash flow from operating activities was CNY 600,030,517.05, down 52.01% from CNY 1,250,357,181.46 in the previous year[22]. - The basic earnings per share for 2023 were CNY 0.0605, a decrease of 65.19% from CNY 0.1738 in 2022[23]. - The weighted average return on net assets was 3.12%, down 6.31 percentage points from 9.43% in the previous year[23]. - The gross profit margin for the waste resource recovery and comprehensive utilization industry was 7.87%, a decrease of 3.01 percentage points year-on-year[54]. - Total operating revenue for 2023 was CNY 6,796,644,426.21, a decrease of 11.25% from CNY 7,659,813,637.79 in 2022[184]. - Net profit for 2023 was CNY 132,927,406.95, a decline of 65.1% compared to CNY 381,407,024.56 in 2022[185]. - Basic earnings per share for 2023 were CNY 0.0605, down from CNY 0.1738 in 2022, indicating a decrease of 65.1%[186]. Assets and Liabilities - The total assets at the end of 2023 were CNY 5,682,434,637.81, a slight increase of 0.79% from CNY 5,638,062,456.30 in 2022[22]. - Total assets amounted to CNY 3,074,725,771.07, a decrease from CNY 3,264,264,038.52 in the previous year[182]. - Total liabilities decreased to CNY 1,389,575,286.71 from CNY 1,410,039,008.37, a decline of about 1.5%[178]. - Long-term borrowings increased significantly to CNY 419,579,528.96 from CNY 230,425,666.05, an increase of approximately 82%[178]. - The total equity attributable to shareholders increased to CNY 4,292,846,516.26 from CNY 4,228,035,145.16, reflecting a growth of about 1.5%[178]. Operational Strategies - The company is focusing on the construction of a 1.3 million tons per year aluminum alloy ingot project in Malaysia, which has faced delays due to various factors but is nearing completion[33]. - The company has implemented a global procurement strategy to mitigate the impact of raw material shortages and high prices, enhancing communication with upstream suppliers[32]. - The company is enhancing its internal management through refined processes and controls to improve operational efficiency and reduce costs[35]. - The company is preparing for market recovery by strengthening employee training and optimizing management efficiency[31]. - The company is focused on continuous improvement of production processes and has developed proprietary technologies that enhance production efficiency and reduce costs[44]. Market and Industry Trends - The global recycled aluminum industry has seen a rise in production, with recycled aluminum accounting for approximately 35% of total aluminum production[36]. - The company is a leading player in the aluminum recycling sector, producing various grades of aluminum alloy ingots, which are essential materials for national economic construction and consumer goods production[39]. - The recent government initiatives to promote recycling and resource recovery are expected to create significant growth opportunities for the recycling industry[38]. - The domestic recycled aluminum industry in China has a supply ratio of only 17% as of 2020, significantly lower than the global average of 30%[72]. - The automotive sector is the primary application area for recycled aluminum, with a significant shift towards lightweight materials to improve the range of new energy vehicles[83]. Governance and Management - The company has established a governance structure that complies with legal requirements, ensuring effective decision-making and accountability[96]. - The company has implemented strict information disclosure practices to maintain transparency and protect shareholder interests[98]. - The company has a diverse board with members holding various positions in other organizations, enhancing its strategic capabilities[105]. - The company has maintained stable leadership with directors' terms extending until May 2025[102]. - The company has a commitment to innovation, with several directors having backgrounds in research and development in relevant fields[104]. Environmental Commitment - The company invested approximately 49.16 million RMB in environmental protection during the reporting period[131]. - The company reported zero emissions of major pollutants from its operations, indicating compliance with environmental standards[132]. - The company has not implemented any carbon reduction measures during the reporting period[134]. - The company has a long-term commitment to avoid any business activities that may compete with its own operations[136]. - The company did not face any administrative penalties related to environmental issues[132]. Shareholder Information - The total number of shares held by directors and senior management at the end of the reporting period is 1,022,797,721 shares, unchanged from the beginning of the period[102]. - The total pre-tax remuneration for directors and senior management during the reporting period amounts to 736.57 million yuan[102]. - The largest shareholder, Yiqiu (Hong Kong) Co., Ltd., holds 784,514,000 shares, representing 35.64% of total shares[155]. - The total number of common shareholders at the end of the reporting period was 75,914, down from 91,002 at the end of the previous month[153]. - The controlling shareholder is Yiqiu (Hong Kong) Co., Ltd., with Huang Chongsheng as the legal representative[160].