Financial Performance - Revenue for the year ended December 31, 2022, was RMB 653,441 thousand, a decrease of 30.2% from RMB 936,595 thousand in 2021[23] - Gross profit decreased by 36.6% to RMB 134,004 thousand from RMB 211,230 thousand in the previous year[23] - The company reported a loss before tax of RMB 124,560 thousand, compared to a profit of RMB 37,006 thousand in 2021, representing a decline of 436.6%[23] - Net loss for the year was RMB 106,004 thousand, a significant decrease from a profit of RMB 33,410 thousand in 2021, marking a decline of 417.3%[23] - Basic and diluted loss per share was RMB (39), compared to earnings of RMB 12 in the previous year, reflecting a decrease of 425.0%[23] - The company’s revenue for the fiscal year 2022 decreased by approximately 30.2% to RMB 653.4 million from RMB 936.6 million in the fiscal year 2021, primarily due to the impact of COVID-19 lockdowns in Changchun[37] Assets and Liabilities - Non-current assets increased slightly by 1.6% to RMB 391,990 thousand from RMB 385,865 thousand in 2021[23] - Current assets rose by 3.2% to RMB 2,058,323 thousand, compared to RMB 1,993,922 thousand in the previous year[23] - Current liabilities increased by 12.3% to RMB 1,951,668 thousand from RMB 1,738,198 thousand in 2021[23] - Total equity decreased by 19.4% to RMB 486,950 thousand from RMB 604,077 thousand in the previous year[23] Revenue Sources - The main sources of revenue in fiscal year 2022 were landscaping (approximately 75.9%), ecological restoration (11.1%), and others (13.0%) of total revenue[26] - The landscaping segment's revenue fell by approximately 29.7% to RMB 496.1 million in fiscal year 2022 from RMB 705.4 million in fiscal year 2021, largely due to pandemic-related construction delays[39] - The revenue from the ecological restoration segment decreased by approximately 51.7% from RMB 150.6 million in FY2021 to RMB 72.8 million in FY2022, primarily due to COVID-19 lockdowns in Changchun[40] - The revenue from other segments increased by approximately 5.0% from RMB 80.6 million in FY2021 to RMB 84.6 million in FY2022, attributed to more projects won and completed[41] Project Bidding and Success - The company submitted 403 bids in fiscal year 2022, an increase of 27.5% from the previous year, with a bid success rate of 19.6%, up by 6 percentage points[26] - The total value of successful bids increased from approximately RMB 443.9 million in fiscal year 2021 to about RMB 1,053.2 million in fiscal year 2022[26] - The number of completed projects in the fiscal year 2022 was 71, with 287 ongoing projects at year-end, reflecting an increase in total project numbers due to a higher bid success rate[38] Employee and Operational Management - As of December 31, 2022, the company had 555 employees, with a total employee cost of RMB 121.7 million for the fiscal year[28] - The company emphasizes continuous professional development for its employees, focusing on enhancing technical capabilities and skills[30] - The company aims to enhance its core competitiveness through continuous technological innovation and expand its municipal business operations[36] - The company will continue to strengthen its operational capabilities and talent training to support its strategic objectives in 2023[36] Financial Risks and Credit Management - The group faces various business risks, including economic conditions and changes in local government spending, which could significantly impact performance[69] - Financial risks include credit risk, liquidity risk, interest rate risk, and foreign exchange risk, with a low currency risk due to operations primarily in RMB[72] - The group has implemented policies to ensure sales are made to customers with appropriate credit records, resulting in limited credit risk[73] Corporate Governance - The company has adopted the corporate governance code as outlined in Appendix 14 of the Listing Rules, except for the provision C.2.1, which states that the roles of Chairman and CEO should be separate[89] - The board consists of eight members, including two executive directors, three non-executive directors, and three independent non-executive directors[91] - The company emphasizes high standards of corporate governance to ensure integrity, transparency, and effective internal management measures[89] - The board is responsible for leading and monitoring the company, formulating overall strategies, and approving business plans[91] Shareholder Engagement and Dividends - The company reported no dividends for the fiscal year 2022[119] - As of December 31, 2022, the company had no distributable reserves for shareholders, compared to zero in 2021[125] - Shareholders have the right to request a special general meeting if they hold at least 10% of the voting shares, which must be held within two months of the request[113] Environmental, Social, and Governance (ESG) Initiatives - The company has committed to environmental policies aimed at minimizing its impact on natural resources[123] - This is the third Environmental, Social, and Governance (ESG) report released by Zhongqing Environment Holdings Limited, detailing management policies and practices in ESG areas[200] Related Party Transactions - The group entered into significant related party transactions, including purchasing goods worth approximately RMB 491,000 from related parties, down from RMB 1.14 million in the previous year[169] - The board confirmed compliance with the Listing Rules Chapter 14A regarding continuing connected transactions, and a certified public accountant has been engaged to report on these transactions[179]
中庆股份(01855) - 2022 - 年度财报