*ST金山(600396) - 2022 Q4 - 年度财报

Financial Performance - The audited net assets of the company for 2022 were negative, which may lead to a delisting risk warning from the Shanghai Stock Exchange[6]. - The company has proposed no profit distribution for the reporting period[5]. - The company has received an unqualified audit report with an emphasis on matters related to going concern uncertainty[4]. - The company's operating revenue for 2022 was ¥7,129,130,027.62, an increase of 8.44% compared to ¥6,574,339,046.18 in 2021[21]. - The net profit attributable to shareholders of the listed company was -¥2,025,913,522.59, worsening from -¥1,915,875,970.47 in the previous year[21]. - The basic earnings per share for 2022 was -¥1.3703, compared to -¥1.3037 in 2021[22]. - The weighted average return on equity was -165.83%, a decrease of 165.83 percentage points from 3.94% in 2020[22]. - The company reported a decrease in net profit attributable to shareholders after deducting non-recurring gains and losses by ¥1.10 billion, primarily due to high coal prices and increased asset impairment provisions[22][23]. - Operating revenue increased by 8.44% year-on-year to 7.13 billion RMB, while total profit decreased by 1.98 billion RMB to -2.39 billion RMB[43][45]. Operational Highlights - The company’s total electricity generation in 2022 reached 16.590 billion kWh, with main business revenue of 7.086 billion CNY[31]. - The average selling price of electricity increased by 59.20 CNY/MWh, contributing an additional 0.805 billion CNY to revenue[32]. - The company reduced ineffective electricity generation by 1.835 billion kWh, resulting in a loss reduction of 0.14 billion CNY[31]. - The company signed long-term coal contracts covering 12.65 million tons, achieving significant cost control[32]. - The company achieved auxiliary service revenue of 0.361 billion CNY, an increase of 0.238 billion CNY year-on-year[31]. - The company is actively optimizing coal procurement and controlling costs to mitigate the impact of high coal prices on profitability[22]. Asset and Liability Management - The total assets decreased by 9.91% to ¥18,871,367,234.43 from ¥20,946,277,330.45 in 2021[21]. - The total liabilities at the end of the reporting period amounted to 20.986 billion yuan, an increase of 0.315 billion yuan compared to the previous period[66]. - The company's asset-liability ratio exceeds 100%, affecting credit ratings and financing costs, which limits investment capabilities and complicates transformation efforts[93]. - The company's total equity as of December 31, 2022, was -2,114.27 million, with equity attributable to the parent company at -1,797.47 million, indicating significant financial distress[169]. Governance and Compliance - The company is enhancing its internal control and compliance risk management to improve overall governance and operational efficiency[97]. - The company has revised its governance documents to ensure compliance with legal and regulatory requirements, enhancing operational standards[96]. - The company is committed to ensuring the independence of its assets, personnel, and operations from its controlling shareholder, China Huadian Corporation[98]. - The company is focused on enhancing its governance structure by appointing independent directors with diverse backgrounds[109]. - The company is committed to maintaining transparency and accountability in its governance practices[112]. Environmental and Social Responsibility - The company invested 195.12 million yuan in environmental protection during the reporting period[149]. - The company achieved a dust emission of 192.42 tons, sulfur dioxide emission of 1,153.37 tons, and nitrogen oxides emission of 2,329.44 tons, all meeting the discharge permit requirements[150]. - The company has established a comprehensive environmental management information system, including monitoring records and pollution control facility management[155]. - The company reported a reduction of 1,695,373 tons of carbon dioxide equivalent emissions through various operational efficiency measures[158]. - Total investment in social responsibility projects amounted to 1.0948 million yuan, benefiting 1,170 individuals through targeted assistance programs[159]. Future Strategies - The company plans to enhance coal supply through long-term contracts and explore additional coal sources domestically and internationally[42]. - The company aims to achieve a GDP growth rate of around 5% in Liaoning Province for 2023, with total electricity consumption expected to reach 2,627.32 billion kWh, a year-on-year increase of 3%[88]. - The company plans to optimize its asset structure and focus on clean and low-carbon transformation, while enhancing its competitive strength through innovation and efficient economic practices[89]. - The company is focused on expanding its market presence through strategic initiatives and potential establishment of new subsidiaries[130]. - The company plans to increase investment in wind power project construction as part of its future strategy[131]. Related Party Transactions - The company reported a total of 793,775,259.99 RMB in related party transactions during the reporting period[186]. - The company incurred a litigation amount of 742,712,500 RMB related to a civil judgment received in November 2022[183]. - The company has ongoing engineering service agreements with multiple related parties, including 15,837,149.72 RMB with Nanjing Guodian Nanzi Weimide Automation Co., Ltd[186]. - The company’s financial transactions with related parties did not adversely affect its operational results or financial condition[192].