Financial Performance - Revenue for the year reached RMB 3,420.3 million, an increase of 15.69% compared to the previous year[4] - Profit attributable to owners of the company was RMB 187.6 million, a decrease of 21.51% year-on-year[4] - Total natural gas sales volume achieved 906 million cubic meters, representing a growth of 28.69% compared to last year[4] - Gross profit for the year was RMB 354.9 million, compared to RMB 265.6 million in the previous year[5] - The company reported a net profit of RMB 201.5 million for the year, down from RMB 250.5 million in the previous year[5] - Total comprehensive income for the year amounted to RMB 201.7 million, compared to RMB 250.5 million in the previous year[7] - The group's revenue for 2024 is RMB 3,420,317,000, an increase from RMB 2,956,483,000 in 2023, representing a growth of approximately 15.6%[24] - Sales of pipeline natural gas reached RMB 1,753,477,000 in 2024, while sales of liquefied natural gas decreased to RMB 1,195,212,000 from RMB 1,827,052,000 in 2023, indicating a decline of about 34.7%[25] - The group reported a significant increase in construction service revenue, rising to RMB 108,179,000 in 2024 from RMB 1,634,000 in 2023[25] - Total other income and gains for 2024 amounted to RMB 21,121,000, an increase from RMB 17,855,000 in 2023[30] Assets and Liabilities - The company's total assets less current liabilities stood at RMB 1,788.0 million, compared to RMB 1,710.3 million in the previous year[8] - Current liabilities totaled RMB 1,195.8 million, an increase from RMB 944.5 million in the previous year[8] - The total non-current liabilities amounted to RMB 602,410,000 as of December 31, 2024, compared to RMB 641,840,000 in 2023, indicating a decrease of approximately 6.5%[9] - The net asset value of the company reached RMB 1,185,593,000 in 2024, up from RMB 1,068,416,000 in 2023, reflecting an increase of about 10.9%[9] - The company's total equity attributable to owners of the parent was RMB 1,130,702,000 in 2024, compared to RMB 1,025,562,000 in 2023, representing a growth of approximately 10.3%[9] - The net current liabilities were recorded at RMB 93,804,000 in 2024, an increase from RMB 60,845,000 in 2023, which is an increase of about 54.2%[14] - Trade receivables amounted to RMB 391,944,000 in 2024, compared to RMB 266,733,000 in 2023, showing an increase of approximately 47.0%[36] - The total trade payables and notes payable increased to RMB 729,375,000 in 2024 from RMB 494,138,000 in 2023, marking a growth of 47.7%[40] - The group’s outstanding bank borrowings totaled RMB 352,900,000 in 2024, up from RMB 189,340,000 in 2023, reflecting an increase of 86.3%[41] Dividends and Shareholder Information - The board proposed a final dividend of RMB 0.25 per share (tax included) for the year ended December 31, 2024[4] - The proposed final dividend for 2024 is RMB 0.25 per share, down from RMB 0.40 per share in 2023, reflecting a decrease of 37.5%[34] - The company will distribute the final dividend on July 4, 2025, following approval at the annual general meeting[73] - H-share individual shareholders must notify the company by June 12, 2025, if their residency status differs from their registered address[76] - The record date for determining H-share shareholders entitled to attend the annual general meeting is June 3, 2025[77] Corporate Governance - The company adheres to high standards of corporate governance to enhance shareholder value and transparency[79] - The chairman and CEO roles are not separated, with the same individual holding both positions since 1998[82] - The company has adopted the principles and rules of the corporate governance code as its governance framework[81] - The audit committee, composed of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group for the current year[85] Market and Operational Insights - The company has a significant focus on the sale of gas in Jiaxing City, including pipeline natural gas, liquefied natural gas, and liquefied petroleum gas, as part of its core business operations[10] - The group operates a single reportable segment focused on gas sales and related services, with no further breakdown of operating segments provided[20] - All of the group's revenue is generated from customers in mainland China, with all non-current assets located in the same region[21] - The group has a major customer contributing approximately RMB 223,685,000 in revenue, down from RMB 369,729,000 in 2023, indicating a decline of about 39.5%[22] - The group provided gas services to approximately 487,000 residential users and 2,580 industrial and commercial users as of the reporting period[46] Future Outlook - The company anticipates sufficient funds to meet its operational and financial obligations within the next twelve months, supporting its going concern basis for financial reporting[14] - The company anticipates continued growth in service provision and product sales, supported by ongoing market expansion strategies[27] - The group’s market expansion efforts included enhancing procurement strategies to lower costs and improve supply chain resilience[44] - The group anticipates that the economic stimulus policies will further stabilize and boost market demand in the natural gas sector[44]
嘉兴燃气(09908) - 2024 - 年度业绩