SGC(SH:601139)2025-04-24 13:50Financial Performance - The company's operating revenue for 2024 was CNY 28.35 billion, a decrease of 8.34% compared to CNY 30.93 billion in 2023[22]. - Operating profit for 2024 was CNY 1.82 billion, down 3.78% from CNY 1.89 billion in 2023[22]. - The total profit for 2024 was CNY 1.83 billion, a decrease of 2.69% from CNY 1.88 billion in 2023[22]. - Net profit attributable to shareholders for 2024 was CNY 1.46 billion, an increase of 1.19% from CNY 1.44 billion in 2023[22]. - The net cash flow from operating activities for 2024 was CNY 3.70 billion, an increase of 45.41% compared to CNY 2.54 billion in 2023[22]. - Total assets at the end of 2024 were CNY 45.22 billion, an increase of 2.15% from CNY 44.27 billion at the end of 2023[22]. - Total liabilities at the end of 2024 were CNY 26.86 billion, a slight decrease of 0.53% from CNY 26.99 billion at the end of 2023[22]. - The gross profit margin improved by 1.68 percentage points to 17.15% compared to the previous year[64]. - The company reported a net cash flow from operating activities of ¥3,697,384,898.22, an increase of 45.41% year-over-year[70]. User Growth and Market Expansion - The number of natural gas users reached 8.41 million, an increase of 780,000 users year-on-year[35]. - The company added 220,000 new pipeline gas users, bringing the total user count to 2.64 million[36]. - The company has over 8.4 million pipeline gas users, covering a population of more than 29 million across 57 cities[52]. - The company completed the "bottle-to-pipe" project in Shenzhen, increasing the number of pipeline gas users by 560,000 in the Greater Bay Area[35]. - The company signed a ten-year long-term agreement with PetroChina for a natural gas contract volume of 9.69 billion cubic meters[36]. Energy Supply and Production - Natural gas supply volume was 6.576 billion cubic meters, up 5.06% year-on-year, while sales volume increased by 6.91% to 5.741 billion cubic meters[35]. - The sales volume of pipeline natural gas reached 4.975 billion cubic meters, a year-on-year increase of 2.78%[36]. - The wholesale sales volume of natural gas increased by 44.53% to 766 million cubic meters[37]. - The company achieved a total electricity generation of approximately 1.02 billion kilowatt-hours since the launch of the first 9F unit[37]. - The company has a total LPG processing capacity of approximately 1 million tons per year, with significant investments in LNG receiving stations and storage facilities[46]. Research and Development - Research and development expenses totaled ¥718,587,489.73, accounting for 3.17% of total operating revenue[67]. - The number of R&D personnel was 1,116, making up 11.86% of the total workforce[69]. - The company is investing in R&D for innovative technologies, with a budget allocation of $50 million for the upcoming year[103]. - The company will continue to invest in research and development to improve product quality and operational efficiency, thereby enhancing competitiveness[94]. Environmental and Social Responsibility - The company has been disclosing its social responsibility report since 2011, highlighting its commitment to ESG practices[142]. - The company reduced carbon emissions by approximately 38,022.37 tons during the reporting period through various measures[141]. - The company invested a total of 532.07 million RMB in poverty alleviation and rural revitalization projects, benefiting 209 individuals[142]. - The company conducted energy-saving renovations, achieving an annual electricity savings of 915,000 kWh, which reduced CO2 emissions by approximately 3.2 million tons[141]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations and protecting shareholder interests[96]. - The company has appointed new independent directors and supervisors in the 2024 shareholder meetings[100]. - The company’s independent directors and supervisors have extensive backgrounds in law and finance, enhancing governance and oversight capabilities[104][105]. - The company has established specialized committees, including an audit committee, nomination committee, compensation and assessment committee, and strategic committee[116]. Future Outlook and Strategic Plans - The company’s future outlook includes further market expansion and potential mergers and acquisitions[100]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion[103]. - The company aims to improve operational efficiency, targeting a 10% reduction in costs by the end of 2024[103]. - The company plans to enhance customer support services, aiming for a 90% satisfaction rate in the next customer survey[103]. Financial Management and Capital Structure - The company approved the 2023 annual financial report, which includes audited financial statements and profit distribution plans[100]. - The total remuneration for directors and senior management during the reporting period amounted to 12.08 million CNY[101]. - The company has a cash dividend policy that has been consistently executed, with a cash dividend of RMB 1.6 per 10 shares, totaling RMB 460,277,725.60 distributed to shareholders[128]. - The company has implemented a comprehensive internal control system to ensure compliance with regulations and safeguard asset security, with no significant internal control deficiencies reported during the reporting period[136][137].