CC GAS(SH:600333)2016-04-14 16:00Financial Performance - The company's operating revenue for 2015 was CNY 1,513,744,497.74, a decrease of 7.81% compared to CNY 1,641,925,573.00 in 2014[17]. - The net profit attributable to shareholders was a loss of CNY 326,987,472.56, a significant decline from a profit of CNY 20,047,489.78 in the previous year, representing a decrease of 1,731.06%[17]. - The company reported a cash flow from operating activities of -CNY 91,690,091.45, worsening from -CNY 31,183,032.96 in 2014[17]. - The basic earnings per share for 2015 was -CNY 0.62, a decrease of 1,650% from CNY 0.04 in 2014[18]. - The weighted average return on equity was -18.83%, a decrease of 1,876.42 percentage points from 1.06% in 2014[18]. - The company reported a total revenue of approximately CNY 1.25 billion for the year, with a net profit of CNY 213.5 million, representing a significant increase compared to the previous year[53]. - The net profit for 2015 was a loss of ¥283,956,986.87, compared to a profit of ¥27,655,041.97 in the previous year, indicating a significant decline in profitability[130]. - The total comprehensive income for the year was a loss of ¥283,956,986.87, compared to a gain of ¥27,655,041.97 in the previous year, highlighting a substantial downturn[130]. Asset and Liability Management - Total assets increased by 8.14% to CNY 4,754,347,276.99 at the end of 2015, compared to CNY 4,396,269,557.84 at the end of 2014[17]. - The company's total assets increased to CNY 4,603,029,694.79, up from CNY 4,175,929,746.29 in the previous year, representing a growth of 10.2%[125]. - Total liabilities increased to CNY 3,154,377,954.29 from CNY 2,464,946,681.74, reflecting a growth of about 27.9%[120]. - The company's total equity decreased to CNY 1,599,969,322.70 from CNY 1,931,322,876.10, a decline of about 17.2%[121]. - The company reported a total debt of CNY 42,525.56 million related to the gas company, with a net value of CNY 7,000 million recorded for the debt[70]. Operational Changes - The company ceased its coking business during the reporting period, which significantly impacted profits and other financial metrics[19]. - The company has been transitioning its product structure by replacing coal gas with natural gas, leading to a decline in overall sales revenue[19]. - The company completed the adjustment of its product structure, replacing 625,000 artificial gas users and constructing a high-pressure pipeline network[31]. - The company is actively pursuing the "coal-to-gas" project, which is expected to add 45 billion cubic meters of gas demand by replacing coal boilers in urban areas[55]. Revenue Segmentation - Gas segment revenue reached ¥778.72 million, with a gross margin of 31.55%, showing a year-over-year decrease of 0.44%[37]. - The gas installation segment reported revenue of ¥396.82 million, a significant increase of 23.62% year-over-year, with a gross margin of 36.39%[37]. - Metallurgical coke revenue fell to ¥210.39 million, with a gross margin of only 0.64%, reflecting a substantial year-over-year decline of 47.71%[37]. - Chemical products revenue decreased to ¥22.04 million, with a gross margin of 29.42%, down 71.56% year-over-year[37]. Cash Flow and Financing - The company recorded a significant increase in financial expenses, rising by 293.31% to CNY 36.78 million from CNY 9.35 million in 2014[34]. - The company reported a net cash inflow from financing activities of ¥817,216,362.08, an increase from ¥439,547,586.59 in the previous year, reflecting improved financing conditions[133]. - The cash outflow from financing activities totaled $615,588,596.26, which is a 100% increase compared to the previous year[137]. - The company received cash from borrowings amounting to ¥977,004,958.34, significantly higher than ¥435,000,000.00 in the previous year, indicating increased reliance on debt financing[132]. Risk Management - There were no significant risks impacting operations during the reporting period, and the company has outlined potential risks and countermeasures in the report[5]. - The company has identified risks including the slowdown of China's economic growth and potential supply disruptions due to upstream gas source issues[58]. Corporate Governance and Compliance - The company has submitted a formal rectification report to the Jilin Securities Regulatory Bureau regarding administrative regulatory measures[67]. - The internal control audit report issued by the accounting firm confirmed the effectiveness of the company's internal control system, with no significant deficiencies noted[103]. - The company has corrected its internal control procedures to ensure compliance with insider information management regulations following previous errors[67]. Employee and Management Structure - The company has a total of 2,916 employees, with 1,785 in the parent company and 1,131 in major subsidiaries[97]. - The company has established a performance-based compensation system to align employee interests with corporate goals, promoting a culture of "more work, more pay" and encouraging high performance[98]. - The board of directors and senior management have undergone changes, with new appointments including Jin Yonghao and Xue Lianmin as vice presidents[96]. Strategic Initiatives - The company is focusing on expanding its clean energy initiatives in response to government policies promoting natural gas usage[49]. - The company has established a strategic plan for the "13th Five-Year Plan" period, emphasizing the development of natural gas markets and capital operations[56]. - The company plans to enhance its service quality through the "Internet + gas service" technology platform, gaining public recognition[29].