新天然气(603393) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached RMB 3,776,753,919.71, representing a 7.40% increase compared to RMB 3,516,652,466.29 in 2023[24] - The company achieved a total revenue of approximately 3.777 billion RMB, representing a year-on-year growth of 7.40%[35] - The net profit attributable to shareholders reached approximately 1.185 billion RMB, an increase of 13.12% compared to the previous year[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately 1.197 billion RMB, up 17.79% year-on-year[26] - The basic earnings per share (EPS) for 2024 was 2.80 RMB, reflecting a 13.36% increase from 2023[27] - The diluted EPS also stood at 2.80 RMB, marking a 13.36% rise compared to the previous year[27] - The company's total assets increased by 25.44% year-on-year, reaching approximately 18.268 billion RMB[26] - The net assets attributable to shareholders grew by 11.15% year-on-year, totaling approximately 8.143 billion RMB[26] - The net cash flow from operating activities was approximately 2.071 billion RMB, a 4.90% increase from the previous year[26] Dividend Policy - As of December 31, 2024, the company's parent company's undistributed profits were negative at RMB -93,931,354.61, leading to a decision not to distribute cash dividends or issue bonus shares for the year[8] - The company plans to disclose an interim dividend by no later than the third quarter of 2025, contingent on receiving dividends from its subsidiary[8] - The company has established a cash dividend policy, ensuring a minimum annual cash distribution of 20% of the distributable profits attributable to shareholders of the parent company, provided there are no major investment plans or cash expenditures[129] - For the fiscal year 2024, the company plans not to distribute cash dividends or issue bonus shares due to a negative retained earnings balance of RMB -93,931,354.61[130] - Over the last three accounting years, the total cash dividends distributed amounted to RMB 635,041,995.30, with an average annual net profit of RMB 1,052,137,081.01, resulting in a cash dividend ratio of 60.36%[133] Operational Highlights - The company continues to expand its business in the natural gas sector, focusing on high-quality development and investment in large projects[35] - Coalbed methane production has shown a continuous growth trend for seven consecutive years, with sales volume increasing by 20.26% and a sales-to-production ratio of 97.25%[36] - The company has entered conventional oil and gas resources through the acquisition of the Kashin North project, with a natural gas wellhead output of 189 million cubic meters expected from August to December 2024[37] - Total coalbed methane production for 2024 is projected to reach 2.005 billion cubic meters, a year-on-year increase of 17.66%, with the Mabi block showing a significant growth of 56.82%[39] - The average sales price of coalbed methane increased by 2.33% to 2.20 yuan per cubic meter, with the Mabi block's price rising by 7.31% to 2.35 yuan[40] - The city gas business has seen a year-on-year sales growth of over 10%[40] Risk Management - The company has not identified any significant risks affecting its normal operations during the reporting period[11] - The company faces risks related to industry cyclicality, uncertainty in reserves, and safety and environmental management[95] - The company faces risks related to government subsidies and VAT refund policies, which may impact the economic benefits of coalbed methane development due to potential changes in national policies[96] - There is a risk of core technical personnel loss, which could weaken the company's core competitiveness despite efforts to retain them through compensation and equity incentives[97] Corporate Governance - The board of directors and senior management have confirmed the authenticity, accuracy, and completeness of the annual report[5] - The company has established a robust internal management and control system to ensure compliance with laws and regulations, safeguarding the interests of shareholders[103] - The company emphasizes the importance of information disclosure, adhering to established protocols to maintain transparency and protect shareholder interests[102] - The company has held 3 shareholder meetings during the reporting period, approving 20 resolutions to ensure compliance with legal requirements and protect shareholder rights[99] - The board of directors consists of 9 members, including 3 independent directors, who diligently fulfill their responsibilities and contribute to informed decision-making[100] Environmental and Social Responsibility - The company invested 4,319.03 million yuan in environmental protection during the reporting period[144] - The company reduced carbon dioxide equivalent emissions by 20.2 tons through the use of low-carbon energy sources[147] - The company established a joint laboratory with China University of Mining and Technology to develop key technologies for low-carbon innovation[148] - The company contributed a total of 118.5 million yuan to public welfare projects during the reporting period[150] - The company actively participated in rural infrastructure construction to support the rural revitalization strategy, with a total investment of 18.79 million yuan[151] - The company emphasizes the importance of environmental protection as part of its sustainable development strategy[145] - The company is committed to achieving carbon neutrality goals by actively promoting energy transition strategies[146] Shareholder Relations - The controlling shareholder has committed to avoiding any related party transactions that could harm the interests of the company and its minority shareholders[12] - The controlling shareholder guarantees that no competitive activities will be undertaken that could directly or indirectly compete with the company's main business[156] - The company will maintain an independent financial accounting department and ensure that financial decisions are made independently without interference from the controlling shareholder[157] - The company will ensure that all senior management personnel are dedicated solely to the company and will not hold positions in related parties[157] - The company has committed to avoiding related party transactions and ensuring transparency in any unavoidable transactions, adhering to fair decision-making processes[162] Strategic Outlook - The company is committed to becoming a leading clean energy group with a focus on the entire natural gas energy industry chain[91] - Future outlook includes plans for market expansion and potential acquisitions, aiming to enhance the company's competitive position in the natural gas sector[108] - The company is focusing on new product development and technological advancements to drive growth and improve operational efficiency[108] - The company is actively exploring partnerships to leverage synergies and expand its market reach, particularly in the natural gas industry[108]