Financial Performance - Jiaxing Gas Group reported a revenue increase of 15% year-over-year, reaching RMB 1.2 billion in the latest fiscal year[4]. - The company achieved a net profit of RMB 300 million, representing a 10% increase compared to the previous year[4]. - The company's revenue for the year reached RMB 3,420.3 million, an increase of 15.69% compared to the previous year[14]. - The net profit attributable to shareholders was RMB 187.6 million, a decrease of 21.51% year-on-year[15]. - The gross profit for the year was RMB 354.9 million, up 33.64% from RMB 265.6 million the previous year, mainly driven by increased LNG sales and improved procurement cost efficiency[32]. - Other income and gains increased by 17.88% to RMB 21.1 million, mainly due to government subsidies for gas facility upgrades[33]. - The proposed final dividend for the fiscal year 2024 is RMB 0.25 per share, totaling RMB 34,461,125, subject to shareholder approval at the annual general meeting[99]. Customer and Market Growth - User data indicates a growth in customer base by 20%, with total users now exceeding 500,000[4]. - The company served approximately 487,000 residential users and 2,580 commercial users by the end of the reporting period[28]. - User data indicates a rise in active users, with a total of 500,000 new users added in the last quarter, marking a 10% increase compared to the previous quarter[64]. - The company plans to expand its market presence by entering two new provinces in the next fiscal year[4]. - The company plans to expand its market presence by entering two new provinces, aiming for a 25% increase in market share within the next year[64]. Product Development and Innovation - New product development includes the launch of a smart gas meter, expected to enhance user experience and operational efficiency[4]. - Investment in new technology development has increased by 30%, focusing on enhancing service efficiency and customer satisfaction[64]. - The company has launched a new product line that is anticipated to contribute an additional 200 million RMB in revenue over the next year[64]. Strategic Initiatives - The company is exploring potential acquisitions of smaller gas companies to enhance market share[4]. - A strategic partnership with a local energy firm is expected to enhance service offerings and customer engagement[4]. - A strategic acquisition of a local competitor is in progress, expected to enhance the company's service capabilities and customer base by 15%[64]. - The company aims to ensure competitive pricing and stable supply in response to geopolitical uncertainties affecting the oil and gas market[24]. Operational Efficiency - The company aims to improve operational efficiency by 5% through the implementation of advanced technologies in its distribution network[4]. - Operational efficiency improvements have led to a 5% reduction in costs, positively impacting the overall profit margin[64]. Sustainability and Clean Energy - The company has allocated RMB 50 million for research and development in clean energy technologies[4]. - The company is focusing on sustainability initiatives, with a target to reduce carbon emissions by 20% over the next three years[64]. - The company anticipates further growth in clean energy consumption demand, including natural gas, driven by national economic and carbon reduction targets[24]. Financial Health and Management - The company’s current ratio was 0.92 and the debt-to-asset ratio was 60.27% as of December 31, 2024[39]. - The group has no significant contingent liabilities as of December 31, 2024[43]. - The group has no financial guarantee liabilities, consistent with December 31, 2023[44]. - The group has no mortgaged assets as of December 31, 2024, compared to RMB 43.2 million in mortgaged assets as of December 31, 2023[45]. - The group recorded an investment income of approximately RMB 35,000 from Hangjiaxin during the reporting period, with no dividends received[47]. Compliance and Governance - The group has maintained compliance with all relevant environmental laws and regulations during the fiscal year ending December 31, 2024[189]. - The group has adhered to the corporate governance code, except for specific provisions C.2.1 and F.1.1, during the fiscal year ending December 31, 2024[188]. - The supervisory board confirmed that the company's operations for the fiscal year 2024 are normal and compliant with laws and regulations[197]. - The financial reports for 2024 accurately reflect the company's financial status and operational results, as per the audit by Ernst & Young[198]. Shareholder Information - As of December 31, 2024, the company's total share capital is RMB 137,844,500, consisting of 137,844,500 shares with a par value of RMB 1.00 each[106]. - The company is obligated to withhold a 10% corporate income tax on dividends paid to non-resident H-share shareholders[102]. - The company will distribute the final dividend on July 4, 2025, pending approval from the annual general meeting[99].
嘉兴燃气(09908) - 2024 - 年度财报