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华商能源(00206) - 2022 - 年度财报
CM-ENERGYCM-ENERGY(HK:00206)2023-04-19 09:01

Business Development and Strategy - The company is focusing on the development of clean energy and marine energy-related technology industries, aiming to maximize shareholder and investor interests through strategic investments [8]. - The company is actively seeking investment and consolidation opportunities in marine energy science and technology-related industries [10]. - The company plans to utilize capital operation methods such as listing, funds, and finance leases to secure stable capital support for its green energy initiatives [9]. - The company aims to exploit opportunities in the hydrogen energy and offshore wind power sectors, aligning with global trends towards carbon neutrality and green energy [9]. - The company is committed to achieving synergistic effects across its business segments by investing in undervalued opportunities along the industrial supply chain [8]. - The company plans to expand its business in traditional energy while developing green energy, focusing on offshore wind power operation and maintenance equipment [58]. - The company aims to enhance its technological innovation capabilities to improve global competitiveness and sustainable development [77]. - The company is actively restructuring its management team to adapt to new market environments and business needs [81][83]. Financial Performance - In 2022, the company's revenue reached $113,040,000, a significant increase of 98.5% compared to $57,027,000 in 2021 [31]. - Gross profit for 2022 was $27,746,000, up from $20,664,000 in 2021, reflecting a growth of 34.5% [31]. - The company reported a profit before taxation of $26,455,000 in 2022, compared to $15,740,000 in 2021, marking a year-over-year increase of 68.7% [31]. - Total assets as of December 31, 2022, amounted to US$278.674 million, an increase from US$229.897 million in 2021, reflecting a growth of approximately 21.2% [35]. - Net current assets increased to US$131.762 million in 2022, up from US$74.058 million in 2021, indicating a significant improvement in liquidity [35]. - Total liabilities increased to US$109.648 million in 2022 from US$81.319 million in 2021, reflecting the Group's ongoing investments and operational commitments [35]. - The Group achieved record revenue, net profit attributable to the parent company, and operating profit, maintaining profitable growth for four consecutive years despite challenging conditions [43]. Market Trends and Opportunities - The offshore wind power sector entered a peak development period in 2022, with the Group securing multiple orders for core equipment for LIFTBOAT and high-spec jack-up wind power installation platforms [40]. - The offshore engineering equipment market is anticipated to continue its positive trend in 2023, with rising utilization rates for drilling rigs and support vessels, driven by previous inventory absorption [145][146]. - Global demand for jack-up rigs is expected to reach 418 by the end of 2023, an increase of 18% compared to early 2022, while demand for floating rigs is projected to grow by 19%, reaching 162 by the end of 2023 [146][149]. - The offshore wind power sector is expected to see increased demand for operation and maintenance facilities, with 96% of new orders for wind power installation vessels in 2022 being for large vessels with a lifting weight of over 1,200 tonnes [147][149]. - The average oil price in 2022 remained largely above US$80 per barrel, significantly higher than the average of the last five years, with a peak of US$130 per barrel due to the Russia-Ukraine conflict [139][142]. Technological Innovation and Development - The company is focusing on technology innovation and has set up functional departments for the Institute of Science and Technology Innovation [77]. - The design and assembly of 1,000-scf electrolytic cell products were completed, and the first set of 500KG assembled hydrogen compressors was successfully delivered [40]. - The company established a new technology innovation research institute to enhance its core competitiveness and align with national "dual carbon" development strategies [79]. - The joint venture with Tan Kah Kee Innovation Laboratory will focus on producing high-efficiency alkaline electrolytic cells, aiming for a demonstration model this year [159]. - The company aims to achieve sales performance in hydrogen production systems and refueling station equipment as soon as possible, leveraging international resources [159]. Joint Ventures and Partnerships - The establishment of two joint ventures in the hydrogen energy segment indicates a strategic move towards renewable energy solutions [21]. - The company has partnered with KenzFigee to enter the core equipment business of offshore wind power operation and maintenance, enhancing its market position [21]. - CMIC entered a comprehensive strategic cooperation agreement with KenzFigee for offshore wind power core equipment, with a prototype 3D Active Motion Compensated gangway system expected in the second half of 2023 [57]. Operational Efficiency and Asset Management - The company has revitalized idle assets through the land sale contract of the Qingdao offshore base, improving operational efficiency [20]. - The company aims to integrate upstream and downstream resources in the energy sector, focusing on investments in new energy such as wind power, wave power, and hydrogen energy [195]. - The strategy for energy asset management services will include professional asset management and engineering technology services, particularly in the renewable energy sector [158]. - The company plans to enhance its energy asset management service business, having successfully fulfilled leases for two drilling rigs in 2022, with positive customer feedback [195].