Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year 2024, representing a 15% increase compared to the previous year[31]. - Revenue for 2024 was RMB 6,283,532, a decrease of 0.82% compared to RMB 6,335,775 in 2023[40]. - Profit attributable to the owners of the Company increased by 9.69% to RMB 233,149 in 2024 from RMB 212,544 in 2023[40]. - Net profit increased by 8.16% from RMB 303.63 million for the year ended December 31, 2023, to RMB 328.43 million for the year ended December 31, 2024[115]. - Total comprehensive income increased by 63.41% from RMB 261.92 million for the year ended December 31, 2023, to RMB 428.00 million for the year ended December 31, 2024[116]. - Basic and diluted earnings per share increased by 9.69% to RMB 0.08 in 2024 from RMB 0.07 in 2023[42]. - The company reported a net profit margin of 18% for the last fiscal year, reflecting improved cost management strategies[24]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB0.36 (tax inclusive) for every 10 shares, totaling RMB106,287,648.30 based on a total share capital of 2,952,434,675 shares as of the end of 2024[8][11]. - The final dividends for the year ended December 31, 2024, are set at RMB0.36 per 10 Shares (tax inclusive)[25]. - The board of directors has approved a dividend payout of RMB 0.5 per share, reflecting a 10% increase from the previous year[31]. Risk Management - There were no material risks identified during the reporting period, and potential risks along with countermeasures are detailed in the report[15][17]. - The company emphasizes the importance of understanding investment risks associated with forward-looking statements in the report[10][12]. - The Company faces risks from fluctuations in natural gas prices, which are influenced by domestic supply and demand as well as international market prices[189]. - Changes in environmental protection policies may impose pressures on the Company's operations, requiring strict adherence to local sewage discharge standards[190]. - The company is exposed to exchange rate fluctuations, particularly between RMB and USD, which could lead to exchange losses[194]. Operational Developments - The company plans to expand its market presence by entering three new provinces in China by the end of 2025[24]. - Dazhong Asset Management, a subsidiary, achieved a revenue increase of 20% compared to the previous year, contributing significantly to the overall performance[24]. - The company is investing RMB500 million in new technology development aimed at enhancing operational efficiency[24]. - A strategic acquisition of a local competitor is expected to be finalized by Q2 2024, which will enhance market share by approximately 10%[24]. - Dazhong Logistics Delivery, a newly established subsidiary, aims to capture a 5% market share in the logistics sector within the first year of operation[24]. Environmental and Social Governance (ESG) - Future outlook indicates a focus on sustainable practices, with plans to reduce carbon emissions by 25% by 2026[24]. - The strategic development committee is prioritizing ESG initiatives, aiming for a 50% reduction in carbon emissions by 2030[35]. - The Company plans to enhance its ESG performance and explore the integration of clean energy with traditional public utilities, including photovoltaic power generation and sewage treatment[174]. Financial Position and Cash Flow - Net cash flows from operating activities decreased by 41.21% to RMB 405,522 in 2024 from RMB 689,833 in 2023[40]. - The Group's long-term interest-bearing borrowings were RMB392.94 million, while short-term borrowings were RMB3,207.47 million as of December 31, 2024[128]. - The gearing ratio decreased to 77.06% as of December 31, 2024, down by 6.02% from 83.08% as of December 31, 2023[130]. - The Company will increase cash flows from operating activities and adjust its debt structure to lower the debt-to-asset ratio, maintaining a focus on cash flow management[181]. Market and Industry Trends - The natural gas industry in China is currently stable, with city gas companies expanding services and transforming into comprehensive energy service providers[160]. - The sewage treatment industry is focusing on technological innovation and resource recycling, aiming for high treatment efficiency and stable water quality[161]. - The financing lease industry is expected to align with national industry orientation, promoting high-quality development of the real economy[167]. Audit and Compliance - The company has received a standard non-qualified auditor's report from BDO Limited, ensuring the accuracy and completeness of the financial reports[13]. - The financial report guarantees that there are no false representations or material omissions, with the board accepting legal responsibility for the contents[13]. - There are no external guarantees provided in violation of stipulated decision-making procedures[19].
大众公用(01635) - 2024 - 年度业绩