COOEC(SH:600583)2023-03-20 16:00Financial Performance - The company's operating revenue for 2022 reached CNY 2,935,836.83 million, representing a 48.31% increase compared to CNY 1,979,548.12 million in 2021[22]. - The net profit attributable to shareholders for 2022 was CNY 145,740.91 million, a significant increase of 294.11% from CNY 36,979.89 million in 2021[22]. - The net cash flow from operating activities was CNY 331,348.71 million, up 9.24% from CNY 303,321.95 million in the previous year[22]. - The total assets of the company at the end of 2022 were CNY 4,263,867.49 million, reflecting a 23.04% increase from CNY 3,465,426.38 million at the end of 2021[22]. - The company's net assets attributable to shareholders increased by 4.23% to CNY 2,370,298.97 million at the end of 2022, compared to CNY 2,274,207.10 million at the end of 2021[22]. - The basic earnings per share for 2022 were CNY 0.33, a 312.50% increase from CNY 0.08 in 2021[23]. - The weighted average return on equity for 2022 was 6.30%, an increase of 4.66 percentage points from 1.64% in 2021[23]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 85,257.93 million, compared to CNY 708.73 million in 2021[22]. - The asset-liability ratio stood at 39.77%, indicating a stable financial structure[33]. - The company achieved a total of over 86.8 million hours of labor input in 2022, a year-on-year increase of 25.6%[41]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling approximately CNY 442 million, which accounts for 30.34% of the net profit for the year[5]. - The cash dividend amount for the year was CNY 442,135,480, representing 30.34% of the net profit attributable to the parent company's shareholders[198]. - The company has a profit distribution policy that mandates a minimum cash dividend of 10% of the net profit attributable to the parent company shareholders when conditions are met[194]. - The company has a stable profit distribution policy that prioritizes cash dividends while considering long-term interests and sustainable development[194]. - The company has not proposed a cash profit distribution plan despite having positive distributable profits in the reporting period[197]. Project and Operational Achievements - The company completed 63 large-scale projects during the reporting period, with a steel processing volume of 377,500 tons, representing a year-on-year increase of 57%[34]. - The company successfully constructed the "Haiji No. 1" deep-water platform, demonstrating mastery of key technologies for constructing and installing large-scale riser frames at depths of 300 meters[33]. - The company successfully delivered Asia's first deepwater jacket platform, achieving a record weight for offshore oil production platforms in China[35]. - The cumulative implementation progress of the North America Shell LNG modular construction project reached 98.55%[38]. - The company completed the construction of its first intelligent manufacturing project for marine oil and gas equipment, marking a significant step in digital transformation[35]. - The company laid 399 kilometers of underwater pipelines and 222 kilometers of underwater cables during the year[34]. - The company achieved a total revenue of 29.36 billion RMB, a year-on-year increase of 48.31%[69]. - The company completed the manufacturing and installation of equipment for China's first offshore carbon dioxide storage demonstration project, expected to sequester 300,000 tons of CO2 annually[53]. Research and Development - Research and development expenses rose to 1.12 billion RMB, a 20.79% increase driven by key technology projects in deepwater semi-submersible platforms and underwater oil and gas production systems[72]. - The company reported a research and development investment of 1.1219353 billion yuan, accounting for 3.82% of total operating revenue[90]. - The number of R&D personnel was 1,417, representing 14.74% of the total workforce[91]. - The company achieved a total of 119 research projects focused on deep water and underwater systems, resulting in a technological innovation effect of 324 million yuan[46]. - The company is investing $D million in R&D for new technologies aimed at enhancing operational efficiency[163]. Market Expansion and Strategic Initiatives - The company is actively expanding into the renewable energy market, successfully winning bids for offshore wind power and subsea data center projects[40]. - The company aims to continue expanding its market presence and improving operational efficiency in the coming years[33]. - The company is focusing on enhancing its market expansion capabilities and maintaining stable orders, particularly in overseas and clean energy markets[133]. - The company is exploring CCUS and hydrogen engineering solutions, aiming to become a leader in offshore wind hydrogen engineering[142]. - The company is committed to supporting the national strategy for oil and gas reserve increases and aims to strengthen its position in the marine engineering industry value chain[126]. Governance and Management - The board of directors consists of 7 members, including 3 independent directors, with independent directors accounting for over one-third of the total[149]. - The company received a BBB rating from MSCI for its ESG management, ranking among the top in its industry[153]. - The company emphasizes timely risk disclosures and maintains smooth communication with investors to protect their rights[154]. - The management team has successfully completed the annual oil and gas engineering construction tasks, achieving a historical high in workload[157]. - The company has established a quarterly performance assessment mechanism linked to employee bonuses to enhance motivation and performance[189]. Challenges and Risks - The company faces challenges from geopolitical uncertainties, energy consumption intensity decline, and intensified competition in the clean energy market[119]. - The company acknowledges risks associated with international market operations due to its relatively short experience and is enhancing its international talent and project management capabilities[136]. - The company is implementing measures to mitigate risks from natural disasters and adverse weather, prioritizing safety management and emergency response[138]. - The company is addressing foreign exchange risk as its overseas business grows, incorporating risk management strategies into its financial operations[139]. Employee and Talent Development - The total number of employees in the parent company and major subsidiaries is 9,614, with 5,302 in the parent company and 4,312 in subsidiaries[188]. - The company conducted 6,873 training sessions in 2022, training 251,700 participants, with an average of 171 training hours per person[191]. - The company has a workforce of over 9,000 employees and operates multiple manufacturing bases across China, enhancing its operational capacity and market reach[50]. - The company is committed to talent development, implementing a "3+1" strategy to strengthen the quality of its workforce and enhance international talent acquisition[134].