Bestsun Energy(SH:600681)2025-04-22 10:50Financial Performance - The company's operating revenue for 2024 was approximately RMB 5.09 billion, a decrease of 2.54% compared to RMB 5.22 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was approximately RMB 319 million, down 13.41% from RMB 368 million in 2023[22]. - The basic earnings per share for 2024 were RMB 0.2379, down 13.43% from RMB 0.2748 in 2023[24]. - The weighted average return on equity for 2024 was 8.69%, a decrease of 1.30 percentage points from 9.99% in 2023[24]. - The net profit after deducting non-recurring gains and losses for 2024 was approximately RMB 277 million, a slight decrease of 1.36% from RMB 281 million in 2023[22]. - The main business revenue from gas sales was 4.92 billion RMB, a decline of 2.55% year-on-year[47]. - The main business cost was 4.26 billion RMB, down 2.63% compared to the previous year[47]. - The company achieved operating revenue of 5.091 billion RMB in 2024, with a net profit attributable to shareholders of 319 million RMB[34]. Cash Flow and Assets - The net cash flow from operating activities increased by 4.49% to approximately RMB 698 million in 2024, compared to RMB 669 million in 2023[22]. - The total assets at the end of 2024 were approximately RMB 7.71 billion, a decrease of 2.07% from RMB 7.87 billion at the end of 2023[23]. - The company's net assets attributable to shareholders at the end of 2024 were approximately RMB 3.67 billion, an increase of 0.87% from RMB 3.64 billion at the end of 2023[23]. - The company's long-term borrowings decreased by 57.35% from CNY 1,120,530,000.00 to CNY 477,900,000.00, primarily due to a reduction in borrowings from financial institutions[64]. - The company's cash and cash equivalents decreased to ¥1,643,399,782.72 from ¥685,860,623.96, a significant decline of approximately 76.06%[197]. Market and Operations - Natural gas sales volume reached 1.38 billion cubic meters, generating revenue of 4.295 billion RMB, accounting for 84.36% of total operating revenue[34]. - The company installed 115,000 residential users and over 1,600 non-residential users during the reporting period[34]. - The total length of high and medium-pressure pipelines exceeded 6,600 kilometers, covering a residential population of over 18 million[34]. - The company is positioned to expand its market presence in key regions such as the Beijing-Tianjin-Hebei area and the Yangtze River Economic Belt[41]. - The company aims to expand its business scale by tapping into large user direct supply, gas trading, and value-added product sales, while enhancing operational management levels[77]. Research and Development - Research and development expenses decreased by 48.93% to 3.22 million RMB due to reduced project spending[46]. - Research and development investments increased by 30%, focusing on innovative technologies in the energy sector[96]. Governance and Compliance - The company held 4 supervisory board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[89]. - The company strictly adhered to information disclosure regulations, enhancing transparency and operational standards[90]. - The company has no significant differences in governance compared to regulatory requirements, ensuring independence from its controlling shareholder[90]. - The company has established a comprehensive internal control management system to ensure compliance and safeguard assets, with no significant deficiencies reported during the period[124]. - The company has committed to maintaining independence in business, assets, personnel, finance, and organization following the principle of five independence[140]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of RMB 1.45 per 10 shares based on the total share capital on the dividend record date[6]. - The cash dividend amount represents 98.77% of the net profit attributable to ordinary shareholders in the consolidated financial statements[119]. - The total cash dividends paid over the last three fiscal years amounted to ¥1,092,796,670.15[121]. - The company distributed a cash dividend of RMB 0.13 per share, totaling RMB 174,311,125.30, based on a total share capital of 1,340,854,810 shares[115]. Risks and Challenges - The company has outlined potential risks including industry policy risks, price fluctuation risks, and macroeconomic risks in its management discussion[8]. - The company faces risks related to industry policy changes, price fluctuations, gas source dependency, safety production, and macroeconomic conditions[85][86]. Environmental and Social Responsibility - The company invested in environmental protection initiatives, with natural gas supplied equivalent to replacing 2.6 million tons of raw coal, significantly reducing CO2, SO2, and particulate emissions[128]. - The company made a total of ¥180,000 in public welfare donations during the reporting period[129].