Hongtong Natural Gas(SH:605169)2025-04-17 08:35Financial Performance - The company's operating revenue for 2024 reached ¥2,752,579,639.43, an increase of 46.17% compared to ¥1,883,177,603.94 in 2023[23]. - Net profit attributable to shareholders for 2024 was ¥173,121,918.61, reflecting a growth of 13.05% from ¥153,134,166.36 in 2023[23]. - The cash flow from operating activities for 2024 was ¥275,141,236.03, a slight increase of 1.48% compared to ¥271,125,647.41 in 2023[23]. - The company's total assets as of the end of 2024 were ¥2,592,090,420.30, up 1.44% from ¥2,555,275,372.28 at the end of 2023[24]. - The net assets attributable to shareholders increased by 7.03% to ¥1,939,900,166.39 at the end of 2024, compared to ¥1,812,502,892.12 at the end of 2023[24]. - Basic earnings per share for 2024 were ¥0.6165, representing a 13.89% increase from ¥0.5413 in 2023[25]. - The weighted average return on equity for 2024 was 9.35%, an increase of 0.72 percentage points from 8.63% in 2023[25]. - The first quarter of 2024 saw operating revenue of ¥462,481,039.18, with net profit attributable to shareholders at ¥2,144,191.86[27]. Dividend Distribution - The company plans to distribute a cash dividend of 2.5 RMB per 10 shares, totaling approximately 69,275,992.50 RMB, which accounts for 40.02% of the net profit attributable to shareholders for 2024[6]. - The total share capital as of April 17, 2025, is 282,880,000 shares, with 5,776,030 shares held in the company's repurchase account excluded from the dividend calculation[6]. - The cumulative cash dividend and share repurchase amount over the last three accounting years is CNY 182,007,320.90, with an average annual net profit of CNY 162,319,234.30, resulting in a cash dividend ratio of 112.13%[162]. - The company declared a cash dividend of CNY 2.50 per 10 shares, totaling CNY 69,275,992.50, which represents 40.02% of the net profit attributable to ordinary shareholders[159]. Operational Developments - The company launched a new liquefied natural gas (LNG) production facility with a design capacity of 100,000 cubic meters per day, contributing to increased production and sales[25]. - During the reporting period, the company added 8 new gas stations, bringing the total to 50 operational gas stations, with plans to build 4 more by 2025[35]. - The company has invested in new charging facilities at gas stations in Hami and Bazhou, expanding its new energy charging business[35]. - The company is focusing on digital transformation, enhancing its smart operation capabilities through the implementation of various digital platforms[36]. - The company is committed to building a talent pipeline, focusing on key position succession planning and cross-departmental rotations for management staff[36]. Market and Industry Trends - The company aims to achieve a natural gas production target of over 230 billion cubic meters by 2025, as outlined in national energy planning[39]. - The company is aligned with national policies promoting the use of liquefied natural gas (LNG) as a fuel for transportation vehicles[38]. - The implementation of the National VI emission standard 6b will begin on July 1, 2023, prohibiting the production, import, and sale of vehicles that do not meet this standard, which will enhance the market for natural gas heavy-duty trucks[48]. - The focus on green logistics and the promotion of clean energy in transportation is expected to drive the adoption of electric and hydrogen-powered vehicles[46]. - The government aims to improve the safety and operational efficiency of gas storage facilities through the adoption of new technologies and equipment[49]. Environmental and Social Responsibility - The company invested CNY 155,400 in environmental protection during the reporting period[169]. - The company reduced carbon emissions by 19,021.74 tons through energy-saving measures and technical improvements in production processes[173]. - Total social responsibility investment amounted to 70,800 CNY, with 29,800 CNY in cash and 41,000 CNY in material donations[174]. - The company donated 37,200 CNY in special funds for education and 4,294 CNY in materials for local support[175]. - The company purchased local agricultural products worth approximately 150,800 CNY to support rural revitalization[176]. Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[5]. - The board of directors has confirmed the attendance of all members at the board meeting[4]. - The company emphasizes the accuracy and completeness of the financial report, as stated by the responsible executives[6]. - The company maintains complete independence from its controlling shareholder, Liu Hongbing, in business, personnel, assets, organization, and finance[122]. - The company has established specialized committees under the board, including the audit, nomination, remuneration, and strategic committees, to enhance governance[140]. Future Outlook - The company projects a revenue of CNY 3,196 million and a net profit of CNY 200 million for the fiscal year 2025[113]. - The company plans to enhance its infrastructure for clean transportation energy supply, including the construction of LNG plants and mid-to-high pressure gas pipelines[112]. - The company has set a future outlook with a revenue target of 1.5 billion CNY for the next fiscal year, which would represent a growth of 25%[131]. - The company plans to allocate 5% of its annual budget towards sustainability initiatives, aiming to reduce carbon footprint by 30% by 2025[128].