Financial Performance - The total assets of Tianjin Jinran Public Utilities Company Limited decreased from RMB 2,177,398,537.03 in 2023 to RMB 2,030,748,022.71 in 2024, representing a decline of approximately 6.75%[4][5] - Operating revenue for 2024 was RMB 1,595,299,972.10, down from RMB 1,780,527,288.76 in 2023, indicating a decrease of approximately 10.37%[6] - The net loss for 2024 was RMB 46,095,851.25, compared to a net loss of RMB 155,194,987.82 in 2023, showing an improvement of about 70.3%[6] - The company reported a basic loss per share of RMB 0.025 for 2024, compared to RMB 0.084 in 2023, indicating a reduction in loss per share[6] - The total operating revenue for 2024 was RMB 1,595,299,972.10, a decrease of approximately 10.4% from RMB 1,780,527,288.76 in 2023[25] - The total cost of operating revenue for 2024 was RMB 1,628,041,790.88, down from RMB 1,852,080,540.87 in 2023, reflecting a decrease of about 12.1%[25] - The gross margin for the reporting period was a loss of approximately 2.05%, improving from a loss of 4.02% in the previous year[33] - The pre-tax loss for the reporting period was approximately RMB 47,727,000, significantly reduced from a pre-tax loss of RMB 165,460,000 in the previous year[33] Assets and Liabilities - The company's total liabilities decreased from RMB 747,664,956.61 in 2023 to RMB 647,107,639.86 in 2024, a reduction of about 13.43%[5] - The company's cash and cash equivalents decreased from RMB 789,606,526.80 in 2023 to RMB 694,923,802.41 in 2024, a decline of approximately 12.0%[4] - The total equity attributable to shareholders decreased from RMB 1,430,673,046.58 in 2023 to RMB 1,384,346,569.38 in 2024, a decline of approximately 3.2%[5] - The accounts payable decreased to RMB 192,298,693.30 in 2024 from RMB 296,882,410.08 in 2023, representing a reduction of approximately 35.2%[24] - The company had no bank borrowings as of December 31, 2024, consistent with the previous year[36] - The net current assets were approximately RMB 412,695,000 as of December 31, 2024, compared to RMB 431,655,000 in 2023[36] - The company maintained a debt-to-asset ratio of approximately 0.32 as of December 31, 2024, slightly improved from 0.34 in the previous year[37] Accounts Receivable and Inventory - Accounts receivable increased from RMB 192,300,181.77 in 2023 to RMB 238,095,204.64 in 2024, representing an increase of about 23.9%[4] - Accounts receivable as of December 31, 2024, totaled approximately $238.1 million, an increase from $192.3 million in 2023, representing a growth of 23.9%[12] - The aging analysis of accounts receivable shows that amounts within one year increased to $237.7 million in 2024 from $192.3 million in 2023, indicating a growth of 23.6%[12] - The total inventory as of December 31, 2024, was approximately $1.68 million, down from $2.04 million in 2023, reflecting a decrease of 17.5%[16] - The company reported a provision for bad debts of approximately $11.8 million as of December 31, 2024, slightly up from $11.8 million in 2023, indicating a stable provision level[14] - The total amount of receivables financing decreased significantly to approximately $16.2 million in 2024 from $93.8 million in 2023, a drop of 82.7%[15] - The company’s expected credit loss rate for accounts receivable was 0.02% as of December 31, 2024, compared to 0.01% in 2023, indicating a slight increase in credit risk[14] Corporate Governance and Compliance - The audit committee has reviewed the consolidated financial performance for the reporting period, ensuring compliance with financial reporting systems and risk management[49] - The company has undergone a change in auditors, appointing Da Xin Accounting Firm as the new independent auditor after the previous auditor's term ended[53] - The company adheres to high corporate governance standards to enhance performance, transparency, and accountability, complying with all applicable codes during the reporting period[64] - The board of directors and supervisors confirmed compliance with the securities trading code during the reporting period[65] Future Outlook and Strategic Initiatives - The company remains optimistic about the growth of the natural gas industry in China, driven by government policies promoting cleaner energy usage[46] - The company plans to expand its operations in clean energy solutions, focusing on increasing shareholder returns and ensuring continuous growth in net cash flow[47] - The company aims to optimize its gas source structure to reduce gas intake costs and enhance internal management to cut administrative expenses[48] - The company is focusing on market expansion and deepening operations with major clients to capture new user growth while maintaining existing market share[48] - The company is exploring various options regarding the potential sale of assets from its Jining branch due to uncertainties in the bidding process[60] Shareholder Information - The company did not recommend any dividend payment for the 12 months ending December 31, 2024[29] - The annual general meeting is scheduled for June 27, 2025, with a suspension of share transfer registration from June 24 to June 27, 2025[66] - The 2024 annual report will be published on the company's and the stock exchange's websites at an appropriate time[67] Miscellaneous - The company is primarily engaged in the sale of pipeline natural gas, gas appliance sales, gas network connection services, and gas pipeline transportation services[7] - Certain figures in the announcement have been rounded, and forward-looking statements are based on various assumptions and estimates, subject to inherent risks and uncertainties[69]
天津津燃公用(01265) - 2024 - 年度业绩