Financial Performance - For the fiscal year ending December 31, 2020, the company reported revenue of approximately RMB 173.5 million, an increase of about 39.1% compared to RMB 124.7 million for the previous year[24]. - The profit attributable to the owners of the company for the fiscal year was approximately RMB 20.8 million, representing an increase of about 44.0% from the previous year[15]. - The total cargo throughput for the year reached approximately 4,670 thousand tons, an increase of about 17.7% from approximately 3,968 thousand tons in the previous year[21]. - Revenue from oil product sales accounted for approximately 43.0% of the company's total revenue, driven by increased demand[22]. - The revenue from cargo handling services increased by approximately 19.2% to about RMB 96.6 million for the year ended December 31, 2020, compared to RMB 81.0 million in 2019[25]. - Revenue from oil product sales surged by approximately 97.4% to about RMB 73.0 million for the year ended December 31, 2020, compared to RMB 37.0 million in 2019[26]. - The overall gross profit increased by approximately 25.1% to about RMB 61.3 million for the year ended December 31, 2020, compared to RMB 49.0 million in 2019[31]. - The overall gross margin decreased from approximately 39.3% in 2019 to about 35.3% in 2020[32]. - The net financial costs increased to approximately RMB 2.3 million for the year ended December 31, 2020, compared to RMB 1.5 million in 2019[34]. - The proposed final dividend for the year ended December 31, 2020, is RMB 0.034 per share, totaling approximately RMB 20.4 million based on 600 million shares issued[58]. Operational Developments - The company completed the testing and trial phase of the new Zhengyuan Terminal, which is expected to be a significant growth driver for future cargo throughput[15]. - The company established a joint venture to invest in warehouse facilities and international trade of oil products in Zhanjiang, China, aiming to enhance diversification and profitability[16]. - The group anticipates steady growth in cargo throughput following the successful trial operation of the new phase of Zhengyuan Terminal, driven by economic stimulus measures and expected economic growth in China[65]. - The group plans to enhance its oil product supply and sales, which are expected to become a major growth driver for revenue[65]. - The joint venture's investment in warehouse facilities and international trade of oil products in Zhanjiang, China, is expected to become a new growth point for the group[65]. - The company is exploring opportunities to expand its cargo handling capacity in response to market trends[65]. Environmental and Sustainability Efforts - The total greenhouse gas emissions for the reporting year amounted to 2,557.59 tons of CO2 equivalent, with a density of 0.55 tons of CO2 equivalent per 1,000 tons of total cargo throughput[173]. - Scope 1 emissions from fuel combustion included 1,121.59 tons from diesel and 14.81 tons from liquefied petroleum gas, representing 49% of total emissions[173]. - Scope 2 emissions from purchased electricity accounted for 1,233.56 tons, which is 48% of total emissions[173]. - The company has identified five key areas for improvement in its environmental, social, and governance (ESG) performance, including waste and wastewater management, occupational health and safety, customer service, sustainable development, and anti-corruption[165]. - The company aims to enhance communication with stakeholders to improve economic efficiency while managing ESG-related risks[165]. - The company is committed to promoting environmentally friendly and efficient terminal operations, considering the development of relevant policies in the future[184]. - The group is committed to reducing greenhouse gas emissions, recognizing that electricity consumption is a major contributor to its carbon footprint[199]. Corporate Governance - The company has been managed by its founder, Mr. Yang Jinming, for over 14 years, who also serves as the Chairman and CEO[67]. - The management team has extensive experience, with Mr. Ding Fuxing, the General Manager, having over 25 years in corporate management[84]. - The company emphasizes the importance of compliance and corporate governance, with dedicated roles for monitoring financial and regulatory matters[76]. - The board includes members with significant experience in banking and finance, enhancing the company's financial oversight capabilities[80]. - The company has adopted a standard code of conduct for securities trading, confirming compliance throughout the reporting year[95]. - The board has established three defined committees: the remuneration committee, the nomination committee, and the audit committee, with most members being independent non-executive directors[114]. - The company ensures timely public disclosure of inside information, adhering to the Securities and Futures Ordinance and listing rules[149]. Employee and Management Information - As of December 31, 2020, the group employed 241 employees, with total employee costs approximately RMB 23.8 million, a slight decrease from RMB 24.0 million in 2019[51]. - The company secretary has confirmed that he has received no less than 15 hours of relevant professional training during the year ended December 31, 2020[151]. - Each director is required to retire at least once every three years, with one-third of the directors retiring at each annual general meeting[138]. - The company has established a service agreement with each director for a term of three years, subject to renewal[138].
天源集团(06119) - 2020 - 年度财报