CC GAS(SH:600333)2025-04-24 12:25Financial Performance - The company's operating revenue for 2024 was CNY 2,304,345,840.49, a slight decrease of 0.18% compared to CNY 2,308,438,779.72 in 2023[23]. - The net profit attributable to shareholders for 2024 was a loss of CNY 33,156,771.45, an improvement from a loss of CNY 67,720,781.37 in 2023[23]. - The cash flow from operating activities for 2024 increased significantly to CNY 250,446,739.53, up 354.26% from CNY 55,133,163.40 in 2023[23]. - The total assets at the end of 2024 were CNY 6,904,784,683.40, reflecting a 0.34% increase from CNY 6,881,721,232.10 at the end of 2023[23]. - The basic earnings per share for 2024 was -CNY 0.05, an improvement from -CNY 0.11 in 2023[24]. - The weighted average return on equity for 2024 was -1.71%, an increase of 1.70 percentage points from -3.41% in 2023[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2024 was -CNY 63,068,115.90, an improvement from -CNY 80,842,087.72 in 2023[23]. - The company achieved operating revenue of 2.304 billion RMB, a year-on-year decrease of 0.18%[29]. - The net profit attributable to shareholders was a loss of 33.1568 million RMB, an improvement of 34.564 million RMB compared to the same period last year[29]. - The company reported a total operating revenue of CNY 2,304.35 million for 2024, with gas sales revenue accounting for CNY 1,701.30 million, representing 73.83% of total revenue[154]. - Gas sales revenue decreased by CNY 53.55 million compared to 2023, where it was CNY 1,754.85 million[154]. - The total comprehensive income for 2024 was CNY 185,133,183.35, compared to a total comprehensive loss of CNY 66,645,432.44 in 2023[174]. Operational Efficiency - The company maintained operational costs at the same level as the previous year while implementing cost control measures across procurement, transportation, and sales[30]. - The company is focused on expanding its pipeline gas business and enhancing the stability and reliability of gas supply through interconnection with surrounding gas networks[39]. - The company plans to explore LNG production during the summer to increase the value added from gas sources through price and time differences[39]. - The company achieved a natural gas supply volume of 544 million cubic meters in the reporting period, a year-on-year decrease of 2.41%[50]. - The company has upgraded its gas supply network, enhancing stability and reliability, which is crucial for attracting more users[44]. - The company is exploring energy management projects using combined cooling, heating, and power systems, marking its first entry into the distributed energy sector[40]. - The company’s cash flow from operating activities saw a significant increase of 354.26%, reaching 250.45 million yuan, due to reduced payments for gas and material procurement[51]. Market Expansion and Customer Base - The company expanded its customer base by adding 54,600 new gas supply connections, bringing the total number of gas users to 1.8024 million[29]. - The company serves 1.8024 million users, including nearly 20,000 industrial and commercial users, maintaining a dominant position in the regional pipeline gas market[46]. - The company aims to enhance service efficiency and has achieved the highest customer satisfaction rating in Changchun City for gas safety services[30]. - The company plans to develop new users and increase gas consumption per household by focusing on large boiler conversions and expanding market share[75]. Research and Development - The company’s research and development expenses increased by 41.16% to 14.83 million yuan, reflecting a focus on innovation[51]. - Research and development expenses totaled CNY 14,832,797.85, accounting for 0.64% of total revenue[60]. - The company is actively pursuing new technology development to improve operational efficiency and customer service[97]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability in its operations[89]. - The company’s board of directors consists of 9 members, including 4 independent directors, ensuring compliance with governance requirements[90]. - The company has committed to maintaining independence from its controlling shareholder in terms of operations and financial management[90]. - The company reported a total compensation of 622.41 million CNY for its board members and executives during the reporting period[96]. - The company plans to adjust its organizational structure as part of its strategic initiatives[104]. Environmental and Social Responsibility - The company implemented carbon reduction measures that resulted in a decrease of 9.46 tons of CO2 emissions through the use of natural gas for heating instead of traditional coal[123]. - The company made a total investment of 0.432 million yuan in public welfare projects, benefiting 15 households by providing gas alarms[125]. - The company invested 19.515 million yuan in poverty alleviation and rural revitalization projects, benefiting 2,460 people[125]. - The company organized 22 training programs throughout 2024 to enhance the professional skills of its employees[117]. Future Outlook - The company plans to focus on "stabilizing core business, expanding new ventures, controlling costs, and strengthening services" to achieve stable growth across various business segments[84]. - Future guidance suggests a cautious approach due to fluctuating market conditions and potential regulatory changes impacting operations[69]. - The company is exploring strategic partnerships and potential acquisitions to strengthen its market position and expand its service offerings[69]. - The company is transitioning from a single gas supply model to a comprehensive energy service model, emphasizing digital and intelligent management[84].