SGC(SH:601139)2016-03-30 16:00Financial Performance - The company's operating revenue for 2015 was CNY 7,967,467,448.72, a decrease of 16.40% compared to CNY 9,530,873,495.52 in 2014[17] - The net profit attributable to shareholders for 2015 was CNY 659,661,697.66, down 8.52% from CNY 721,129,885.11 in 2014[17] - The basic earnings per share for 2015 was CNY 0.31, a decrease of 13.89% compared to CNY 0.36 in 2014[19] - The weighted average return on equity decreased to 10.15% from 13.85% in 2014, a decline of 3.70 percentage points[19] - The company's total revenue for Q1 was ¥1,875,298,030.36, Q2 was ¥1,988,435,462.81, Q3 was ¥1,908,080,815.14, and Q4 was ¥2,195,653,140.41, showing a steady increase in revenue throughout the year[21] - The net profit attributable to shareholders for Q1 was ¥122,330,914.22, Q2 was ¥264,059,992.38, Q3 was ¥127,017,975.68, and Q4 was ¥146,252,815.38, indicating fluctuations in profitability across the quarters[21] - The company reported a net profit of CNY 11,810 million from its consolidated operations in 2015[54] Assets and Liabilities - The total assets at the end of 2015 amounted to CNY 15,268,107,349.76, reflecting a 15.13% increase from CNY 13,261,675,829.68 in 2014[18] - The company's total liabilities were CNY 7,817,530,018.91, which is a 4.30% increase from CNY 7,495,089,804.17 in 2014[18] - The net asset attributable to shareholders increased by 31.30% to CNY 7,128,374,040.29 from CNY 5,429,218,686.93 in 2014[17] - The asset-liability ratio improved to 51.20% from 56.52% in 2014, a decrease of 5.32 percentage points[18] - The company's total liabilities decreased by 75.01% for bonds payable, down to ¥400,000,000.00 from ¥1,600,932,103.02 in the previous year[49] Cash Flow - The cash flow from operating activities for 2015 was CNY 1,563,147,841.24, representing a 39.23% increase from CNY 1,122,697,876.37 in 2014[17] - The cash flow from operating activities showed significant improvement, with Q1 at -¥79,479,312.82, Q2 at ¥246,699,916.95, Q3 at ¥556,022,637.56, and Q4 at ¥839,904,599.55, reflecting a strong recovery in cash generation[21] - The company reported a net cash flow from operating activities of CNY 1.56 billion, an increase of 39.23% year-on-year[39] - The total cash and cash equivalents at the end of the period increased to ¥2,417,368,125.44 from ¥1,288,020,304.28, reflecting a growth of 87.8%[167] Market Position and Strategy - The company serves 2.21 million pipeline gas users and has over 5,300 kilometers of underground gas pipelines, indicating a robust infrastructure and customer base[26] - The company has a stable gas supply chain, with a 25-year contract for 271,000 tons of natural gas annually and an agreement with PetroChina for 4 billion cubic meters of gas supply per year until 2039[29] - The company anticipates continued growth in pipeline natural gas sales due to increasing urbanization and government policies favoring clean energy[27] - The company plans to expand its market presence in areas without pipeline natural gas, targeting towns and cities surrounding Shenzhen[27] - The company has maintained a strong competitive edge as one of China's largest importers of liquefied petroleum gas, with consistent high import and sales volumes[29] Investment and Expansion - The company expanded its business by acquiring controlling stakes in two gas companies and establishing new gas projects in three cities, enhancing its market presence[37] - The company plans to focus on expanding its liquefied natural gas (LNG) refueling business, particularly for vehicles and ships, to capture quality markets[62] - The company is targeting regional expansion outside Shenzhen, particularly in areas like Jiangxi and Anhui, to establish a competitive advantage[63] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares to all shareholders[2] - The total cash dividend amount for 2015 is projected to be RMB 217,842,429.60, based on the proposed distribution[68] - The independent directors have expressed that the 2015 dividend distribution proposal complies with relevant regulations[67] - The company has consistently prioritized reasonable returns to investors, exceeding the requirements set forth in its articles of association since its listing[66] Corporate Governance and Management - The company has maintained a good integrity status during the reporting period, with no significant debts or court judgments unmet[75] - The company has engaged Deloitte as its auditor, with an audit fee of RMB 1,400,000 for the year[73] - The company has a diverse board of directors with significant experience in the gas and energy sectors[111] - The company maintains a strict governance structure, adhering to relevant laws and regulations, ensuring independent operation of the board and supervisory committee[132] Employee and Training - The total number of employees in the parent company was 2,684, while the total number of employees in major subsidiaries was 3,549, resulting in a combined total of 6,233 employees[127] - Training programs have been enhanced to cover various areas, including management skills and safety education, improving training coverage[129] Financial Reporting and Compliance - The company adheres to the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency in financial reporting[185] - The audit report confirmed that the financial statements fairly reflect the company's financial position and results for the year ended December 31, 2015[152] - The company’s financial statements are prepared based on the going concern assumption, indicating confidence in future operations[184]