Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 12,997,322, representing a 14.6% increase from HKD 11,344,500 in 2021[6]. - The EBITDA under non-Hong Kong Financial Reporting Standards decreased by 7.1% to HKD 1,932,267 from HKD 2,079,049 in the previous year[6]. - The profit attributable to the company's owners decreased by 85.4% to HKD 174,077,000 in 2022, down from HKD 1,188,997,000 in 2021[53]. - The net profit margin for the year ended December 31, 2022, was 1.3%, down from 10.5% in 2021[87]. - The basic and diluted earnings per share for 2022 were both HKD 0.0614, compared to HKD 0.4420 and HKD 0.4414 in 2021[88]. - The company's total assets decreased by HKD 361,982,000 or 1.4% to HKD 26,310,882,000 as of December 31, 2022[92]. - The company's net current liabilities increased significantly to HKD 4,233,143,000 as of December 31, 2022, compared to HKD 1,318,166,000 in 2021[92]. - The total borrowings and lease liabilities increased by HKD 199,270,000 or 1.8% to HKD 11,541,806,000 as of December 31, 2022[92]. - The net debt to equity ratio increased to approximately 1.12 as of December 31, 2022, compared to 1.00 in the previous year[93]. - The cash and cash equivalents held by the company as of December 31, 2022, were approximately HKD 1,284,802,000, down from HKD 1,573,192,000 in 2021[97]. Sales and Operations - Natural gas sales volume increased by 1.3% to 2,854,188 thousand cubic meters compared to 2,818,011 thousand cubic meters in 2021[6]. - The total energy sales volume surged by 438.2% to 117.00 million kWh from 21.74 million kWh in the previous year[6]. - The gas sales business contributed HKD 11,331,259,000 in sales, marking a 22% year-on-year increase, driven by a successful diversification strategy among residential and commercial customers[30]. - The group recorded a significant increase in comprehensive energy sales volume, which grew by 438.2% to 117 million kilowatt-hours[26]. - The average selling price of gas for residential users increased by 1.6% to RMB 2.53 per cubic meter in 2022, compared to RMB 2.49 in 2021[49]. - The average gas price for industrial customers increased by 30.5% to RMB 3.85 per cubic meter[60]. - The average gas price for residential customers rose by 1.6% to RMB 2.53 per cubic meter[61]. - The group expanded its gas connection user base by 280,807, bringing the total number of users to approximately 466 million residential users and 23,964 commercial users[26]. Strategic Initiatives - The company expanded its operational footprint into Jiangxi Province, enhancing its market presence in the urban gas sector[16]. - The company has established multiple regional comprehensive energy development agreements with local governments, laying a solid foundation for future growth in smart energy[18]. - The company is actively promoting technological innovation and collaboration to enhance its smart energy business development[18]. - The group plans to enhance its digital operations in gas network and station management to promote overall healthy development[22]. - The group aims to explore high-quality projects and expand its gas business footprint while developing value-added services[22]. - The group will focus on green and low-carbon transformation, aligning with the trend of efficient collaboration between urban gas and smart energy[20]. - The company aims to implement key strategies in 2023, including expanding its urban gas business and focusing on clean and smart energy initiatives[35]. Corporate Governance - The board consists of nine members, including six executive directors and three independent non-executive directors as of December 31, 2022[127]. - The company fully complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules for the year ended December 31, 2022[123]. - The board is committed to high levels of corporate governance and aims to balance the interests of different stakeholders[123]. - The independent non-executive directors have confirmed their independence annually as required by the listing rules[124]. - The company aims to continuously improve its corporate governance practices to ensure responsible and efficient management[123]. Risk Management - The risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance rather than absolute assurance[145]. - The internal audit department assesses the effectiveness and efficiency of the risk management and internal control systems through regular audits[148]. - The board believes that the risk management and internal control systems are effective and adequate, fully complying with corporate governance codes[150]. Employee and Workforce - As of December 31, 2022, the group had a total of 5,067 employees, an increase from 4,876 employees in 2021, with employee benefit expenses amounting to approximately HKD 637.1 million, up from HKD 592.97 million in 2021[99]. - The company has adopted a diversity policy for its workforce, with approximately 66% of employees being male and 34% female, aligning with industry standards[166]. - The company is committed to providing equal employment opportunities without discrimination across all levels[166]. Dividends and Shareholder Information - The company has established a dividend policy that considers various factors, including financial performance and cash flow[160]. - The board recommended an interim dividend of HKD 0.03 per share for the year ended December 31, 2022, which was paid on November 15, 2022[170]. - The company's distributable reserves as of December 31, 2022, amounted to HKD 815,406,000, consisting of share premium of HKD 2,707,098,000 and accumulated losses of HKD 1,891,692,000[174]. - The company has no plans to declare a final dividend for the year ended December 31, 2022[170]. Share Options and Repurchase - The company repurchased a total of 4,079,000 shares at a total cost of RMB 22,650,500 during the year ended December 31, 2022, to enhance net asset value and earnings per share[175]. - The share repurchase included transactions with prices ranging from HKD 5.30 to HKD 5.80 per share[176]. - No stock options were granted, exercised, canceled, or expired during the year ended December 31, 2022[196].
中裕能源(03633) - 2022 - 年度财报