Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB, representing a 15% growth year-over-year[2]. - Revenue for the year ended December 31, 2022, was RMB 3,789,322,000, a decrease of 28.2% compared to RMB 5,280,743,000 in 2021[16]. - Gross profit for the same period was RMB 753,848,000, down 42.7% from RMB 1,316,564,000 in 2021[16]. - Loss before income tax was RMB 982,359,000, a slight improvement of 4.7% compared to a loss of RMB 1,030,933,000 in 2021[16]. - EBITDA for the year was RMB 1,177,457,000, reflecting a 1.6% increase from RMB 1,158,649,000 in the previous year[16]. - The loss for the year attributable to ordinary shareholders was approximately RMB 1,060 million, compared to RMB 1,002 million in 2021[17]. - Loss per share for the Reporting Period was RMB 0.889, an increase of 5.8% from RMB 0.840 in 2021[18]. - The Group recorded revenue of approximately RMB3,789.3 million for the Reporting Period, representing a decrease of approximately 28.2% compared to RMB5,280.7 million for the year ended 31 December 2021[69]. - Revenue from wastewater treatment decreased from approximately RMB3,387.3 million to approximately RMB2,289.3 million, a decline of approximately 32.5%[71]. - Revenue from water supply decreased by approximately 28.4% from RMB921.8 million to approximately RMB660.2 million[71]. - Revenue from solid waste treatment decreased by approximately 5.0% from RMB754.8 million to approximately RMB716.9 million[71]. - Revenue from construction and sales of equipment decreased significantly by approximately 66.3% from RMB137.1 million to approximately RMB46.2 million[71]. - Cost of sales for the Group was approximately RMB3,035.5 million, a decrease of approximately 23.4% compared to RMB3,964.2 million for the year ended 31 December 2021[80]. - Gross profit margin decreased to approximately 19.89%, down approximately 5.04% from 24.93% for the year ended 31 December 2021[81]. - Other income increased significantly to approximately RMB1,358.7 million, representing an increase of approximately 2,411.5% compared to RMB54.1 million for the year ended 31 December 2021[82]. - The Group recorded other net losses of approximately RMB95.3 million, a decrease of approximately RMB259.6 million compared to net gains of approximately RMB164.3 million for the year ended 31 December 2021[83]. - Administrative expenses increased by approximately 58.2% to approximately RMB1,029.3 million from RMB650.7 million for the year ended 31 December 2021[92]. - Net finance costs decreased by approximately 12.7% to approximately RMB1,332.2 million from RMB1,526.3 million for the year ended 31 December 2021[93]. - Income tax expenses increased by approximately 624.3% to approximately RMB176.0 million from RMB24.3 million for the year ended 31 December 2021[96]. Market Expansion and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[2]. - The company is expanding its market presence in the Yunnan province, targeting a 30% increase in market share by 2025[2]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on sustainable water solutions[2]. - The company is exploring potential acquisitions to enhance its service offerings, with a budget of 300 million RMB allocated for this purpose[2]. - The company aims to improve its environmental, social, and governance (ESG) practices, with a commitment to reduce carbon emissions by 25% by 2025[2]. - The company is focusing on enhancing ecological and environmental protection as emphasized in the 20th CPC National Congress[23]. - The company aims to promote energy conservation and emission reduction in line with national policies during the "Fourteenth Five-Year Plan"[24]. - The company is exploring full industrial solutions for the new energy battery recycling industry to enhance material recycling value[38]. - The corporate strategy focuses on establishing a foundation in Yunnan while continuously identifying overseas investment opportunities for gradual expansion[196]. - The Group has successfully expanded its overseas business, mainly in Southeast Asian regions, enhancing its market presence[195]. Operational Efficiency and Management - The company strengthened its operation management system, improving the quality of its stock assets and efficiency through measures such as adjusting water prices and controlling operating costs[33]. - The management actively sought reasonable cost control to mitigate the increase in management and operating expenses[33]. - The intelligent environmental system platform was enhanced, enabling data collection and display of project operations, with conditions for national promotion established[34]. - The company developed low-temperature adiabatic pyrolysis and carbonization technology for organic solid waste, addressing the challenges of waste treatment in small cities and rural areas[34]. - The company will continue to focus on energy saving and consumption reduction while refining its operational management processes[40]. - The Company plans to prioritize the construction of projects related to its strategic development plan and core business to quickly realize business value[41]. - The Company aims to improve the standardization of adiabatic pyrolysis and carbonization technology for organic solid waste to expedite the application of related equipment[41]. - The Company will accelerate its business in new industries, such as photovoltaic power generation and recycling of used power batteries, to enhance core competitiveness[41]. Leadership and Governance - The company has a strong leadership team with diverse backgrounds in finance, engineering, and environmental management, enhancing its operational capabilities[154]. - The management team emphasizes the importance of innovation in new product development and technology advancements in the environmental sector[150]. - The company is committed to sustainable practices and environmental protection, aligning with industry trends and regulatory requirements[151]. - The independent Supervisors bring extensive legal and financial expertise to the company's governance structure[179][180]. - The Group's governance structure includes independent non-executive directors, enhancing oversight and accountability[166]. - The company emphasizes compliance with laws and regulations, ensuring adherence to the Articles of Association and resolutions of Shareholders' meetings[178]. Employee and Financial Position - As of December 31, 2022, the Group employed 6,516 employees, down from 6,998 employees as of December 31, 2021, with staff costs amounting to approximately RMB 605.0 million[120]. - The Group's cash and cash equivalents increased by approximately 40.2% to approximately RMB600.6 million from RMB428.4 million as at December 31, 2021[107]. - Trade and other payables rose from approximately RMB 8,807.8 million as of December 31, 2021, to approximately RMB 8,970.1 million as of December 31, 2022, an increase of about 1.8%[114]. - The Group's borrowings increased from approximately RMB 28,655.5 million as of December 31, 2021, to approximately RMB 30,132.6 million as of December 31, 2022[115]. - The gearing ratio increased from approximately 78.79% as of December 31, 2021, to approximately 86.81% as of December 31, 2022, primarily due to increased debt financing during the reporting period[118]. Significant Transactions - Significant investments and acquisitions were announced on November 3, December 20, and December 28, 2022[136]. - Yunnan Water (Hong Kong) agreed to sell 100% interest in Yunshui Technology Co., Ltd. for RMB 296,259,700 on November 3, 2022[139]. - Hyflux Utility sold 100% equity interest in Hyflux NewSpring Waste Water Treatment (Mingguang) Co., Ltd. for RMB 96,523,000 on December 20, 2022[139]. - The Company sold 100% equity interest in Lu'an Yeji Yunshui Water Investment Co., Ltd. for RMB 87,295,900 on December 28, 2022[139]. - On February 27, 2023, the Company agreed to sell 100% equity interest in Honghe Water Industry Investment Co., Ltd. for RMB 155,400,000[141]. - The Company also agreed to sell 100% equity interest in Shuifu Water Industry Investment Co., Ltd. for RMB 28,300,000 on February 27, 2023[141].
云南水务(06839) - 2022 - 年度财报