Environmental Performance - Total greenhouse gas emissions for 2022 were approximately 11.05 tonnes of CO2 equivalent, down from 11.78 tonnes in 2021, representing a reduction of about 6.2%[6] - Electricity consumption decreased to approximately 14,068 kWh in 2022 from 15,580 kWh in 2021, resulting in a reduction of indirect emissions from 10.94 tonnes to 9.88 tonnes of CO2 equivalent, a decrease of about 9.7%[6] - The emission intensity remained stable at approximately 0.03 tCO2e/sq.m for both 2022 and 2021, indicating consistent operational efficiency[6] - The Group's emissions were primarily from electricity and paper consumption, with no involvement in production-related air, water, and land pollution[26] - The Group is committed to environmental sustainability and aims to adopt best practices to minimize resource consumption and improve environmental performance[188] Operational Expansion - The total floor area coverage increased to 355 sq.m in 2022 from 333 sq.m in 2021, reflecting an expansion in operational space[27] - There were no significant acquisitions or disposals of subsidiaries during the year, maintaining the current capital structure[20] - The Group's operations are primarily based in Hong Kong, mainland China, and Mongolia, with no foreign currency hedging policy in place to manage exchange rate risks[19] Financial Performance - The Group generated revenue from uranium trading of approximately HK$891,506,000 for the Year, a significant increase of about 217% compared to approximately HK$280,639,000 in 2021, corresponding to sales of approximately 2.53 million pounds of natural uranium[54] - The gross profit for the Year was approximately HK$102,792,000, representing a 399% increase from approximately HK$20,610,000 in 2021[54] - The net profit for the Year was approximately HK$80,843,000, a substantial increase from approximately HK$2,389,000 in 2021, driven by improved trading operations and reduced finance costs[54] - The total comprehensive income attributable to owners of the Company increased to approximately HK$56,953,000, compared to approximately HK$25,588,000 in 2021[54] - The Group's finance costs decreased to approximately HK$8,602,000 from approximately HK$9,834,000 in 2021, contributing to the improved profit position[54] - The Group reported a revenue increase of approximately 223% to approximately HK$905,730,000 for the Year, compared to approximately HK$280,639,000 in 2021[59] - Cost of sales also increased by approximately 209% to approximately HK$802,938,000, resulting in a gross profit of approximately HK$102,792,000, up 399% from approximately HK$20,610,000 in 2021[59][79] - The Group recorded a net income of approximately HK$80,843,000, significantly up from HK$2,389,000 in 2021[126] - Total comprehensive income for the year amounted to approximately HK$56,953,000, compared to HK$25,588,000 in 2021[129] Trading Activities - The Group facilitated trades of 1.80 million pounds of natural uranium for Rössing uranium mine, generating commission income of approximately HK$14,224,000 in the four-month period after the approval of the framework agreement[54] - The uranium spot market experienced a bull market, with prices rising to historical highs of over USD 63 per pound, before settling at approximately USD 48 per pound at the end of the Year[54] - The Group plans to continue focusing on the development of uranium trading and actively seek high-quality uranium resource projects, particularly in-production projects[46] - The Group aims to enhance its strategic position as the procurement arm of CNUC Group in the international uranium market and will participate in international market bidding to expand its business scale[47] - The Group's trading volume saw substantial increases during the Year, reflecting the overall improvement in the natural uranium market performance[57] Administrative and Financial Management - Administrative expenses increased by approximately 19% to approximately HK$31,190,000 due to additional professional fees and increased staff costs[63] - The Group's cash on hand and bank balances increased from approximately HK$120,625,000 as of December 31, 2021, to approximately HK$130,732,000 as of December 31, 2022[139] - The Group's net current assets were approximately HK$134,991,000 as of December 31, 2022, compared to approximately HK$96,234,000 in 2021[139] - Total shareholders' funds increased from approximately HK$334,655,000 as at 31st December, 2021 to approximately HK$391,608,000 as at 31st December, 2022, representing an increase of about 17%[140] - The gearing ratio decreased to 0.40 as at 31st December, 2022, down from 0.44 as at 31st December, 2021, indicating improved financial stability[140] Corporate Governance - The Audit Committee held three meetings during the Year and reviewed the Group's interim and annual reports, ensuring compliance with accounting principles[159] - The Remuneration Committee is responsible for making recommendations on the remuneration policy for directors and senior management, considering market conditions and Group performance[161] - The Nomination Committee consists of three independent non-executive directors and is chaired by the Chairman of the Board[200] - The Company has continued to fulfill its disclosure obligations as per Rule 13.18 of the Listing Rules[1] Shareholder Information - As of December 31, 2022, CNNC Overseas Limited and its subsidiaries hold a corporate interest of 326,372,273 shares, representing 66.72% of the issued share capital of the Company[172] - The largest supplier and customer each accounted for approximately 38% of the Group's purchases and sales, respectively[185] - The five largest suppliers and customers collectively accounted for approximately 100% of the Group's purchases and sales[186] - As of December 31, 2022, no other person had an interest or short position in the shares of the Company that required disclosure[175] Compliance and Risk Management - The Company complies with relevant laws and regulations in the Cayman Islands, Hong Kong, Mongolia, and the PRC[189] - The Group did not hold any significant investment in equity interest in any other company during the Year[154] - The Company has taken out and maintained directors' liability insurance throughout the year[1] - The Trade Loan interest rate is set at LIBOR + 1.60% per annum, which is consistent with similar bank facilities obtained in recent years[149] - The Trade Loan is intended to support the Group's uranium trading business and is fully exempt from all disclosure and approval requirements under Chapter 14A of the Listing Rules[151]
中核国际(02302) - 2022 - 年度财报