Financial Performance - Revenue increased by approximately 5% to RMB 7,724.3 million for the year ended December 31, 2024, compared to RMB 7,346.9 million in 2023[2] - Profit attributable to equity shareholders rose by about 72% to RMB 67.8 million, up from RMB 39.5 million in 2023[3] - Basic earnings per share increased to RMB 0.18, compared to RMB 0.11 in 2023[3] - Operating profit for the year was RMB 122.9 million, compared to RMB 113.6 million in 2023[3] - Total comprehensive income for the year amounted to RMB 44.6 million, compared to RMB 71.3 million in 2023[4] - Reportable segment gross profit for 2024 was RMB 439,850, compared to RMB 422,263 in 2023, indicating a year-over-year increase of about 4.2%[23][24] - The company reported a pre-tax profit of RMB 94,313 for 2024, up from RMB 64,073 in 2023, reflecting a growth of approximately 47.2%[23][24] - The net profit for 2024 was RMB 70.7 million, an increase of RMB 27.4 million from RMB 43.3 million in 2023[60] Revenue Breakdown - Revenue from the sale of refined oil and natural gas amounted to RMB 7,635,274,000, up from RMB 7,264,316,000, indicating a growth of 5.1%[14] - Revenue from transportation services increased to RMB 75,212,000, a rise of 11.3% from RMB 67,693,000 in the previous year[14] - Revenue from refined oil sales reached approximately RMB 7,395.7 million in 2024, a year-on-year increase of about 5%, accounting for approximately 96% of total revenue[48] - Natural gas sales revenue was RMB 253.4 million in 2024, a year-on-year decrease of 5%, accounting for 3% of total revenue[49] - The company recorded transportation service revenue of RMB 75.2 million in 2024, an 11% increase from RMB 67.7 million in 2023[50] Assets and Liabilities - Non-current assets decreased to RMB 543.6 million from RMB 581.6 million in 2023[5] - Current assets decreased to RMB 140.4 million from RMB 185.4 million in 2023[5] - Total liabilities decreased to RMB 1,101.0 million from RMB 1,140.7 million in 2023[6] - Net assets increased to RMB 547.9 million from RMB 512.1 million in 2023[6] - Total assets remained stable at approximately RMB 1,877.3 million, while total equity increased by 7% to RMB 548.0 million[61] Dividends - The board proposed a final dividend of HKD 15.0 million, translating to a dividend of HKD 0.04 per ordinary share[2] - The proposed final dividend for the year 2024 is HKD 0.04 per ordinary share, compared to HKD 0 for 2023, amounting to RMB 13,872 thousand[40] - The approved special dividend for the year 2024 is HKD 0.08 per ordinary share, totaling RMB 27,345 thousand[41] Operational Highlights - The company operates three reportable segments to assess performance and allocate resources effectively[18] - The company is focused on expanding its retail operations through gas stations and storage facilities for refined oil and natural gas[12] - The company operates 77 gas stations in Northeast China as of December 31, 2024, including 56 gas stations and 21 mixed stations[46][47] Employee and Operating Costs - The company’s employee costs for 2024 were RMB 159,090, slightly higher than RMB 158,532 in 2023[25][26] - Other operating expenses increased from RMB 90.6 million to RMB 98.6 million, primarily due to higher legal and professional fees as well as operating lease expenses in 2024[56] Economic Context - In 2024, China's GDP reached RMB 135 trillion, growing by 5% year-on-year, reflecting stable economic performance[43] - Natural gas consumption in China increased by 8% year-on-year, with a total apparent consumption of 426.05 billion cubic meters in 2024[43] - The production of natural gas in China rose by 6.2% year-on-year, reaching 246.4 billion cubic meters in 2024[43] - The production of crude oil in China increased by 1.8% year-on-year, amounting to 21.282 million tons in 2024[45] Risks and Challenges - The company faces risks related to the volatility of crude oil and natural gas prices, which directly impact sales costs and profit margins[75] - The company relies on upstream suppliers for natural gas, which may lead to supply risks during periods of market price fluctuations[76] - The company has identified various risks and uncertainties that may impact its financial condition and operational performance[74] Corporate Governance - The company has complied with the corporate governance code throughout the fiscal year ending December 31, 2024, except for certain independent non-executive directors not attending the annual general meeting due to overseas commitments[86] - The company has established an audit committee responsible for reviewing financial reporting, risk management, and internal control systems, with the committee members including independent non-executive directors[88]
众诚能源(02337) - 2024 - 年度业绩