ENN-NG(SH:600803)2023-03-24 16:00Financial Performance - The company's revenue increased by 33.04% to RMB 154.044 billion as of December 31, 2022, with a net profit attributable to shareholders of RMB 5.844 billion, resulting in a basic earnings per share of RMB 1.90[2] - The company's operating revenue for 2022 was CNY 15,404,417, an increase of 33.04% compared to CNY 11,578,863 in 2021[20] - The net profit attributable to shareholders for 2022 was CNY 584,391, reflecting a growth of 26.17% from CNY 463,178 in 2021[20] - The net profit after deducting non-recurring gains and losses increased by 33.83% to CNY 467,089 in 2022, compared to CNY 349,005 in 2021[21] - The core profit attributable to shareholders rose by 48.17% to CNY 606,671 in 2022, up from CNY 409,456 in 2021[21] - Basic earnings per share for 2022 were CNY 1.90, representing a 25.83% increase from CNY 1.51 in 2021[22] - The weighted average return on net assets for 2022 was 33.43%, an increase of 2.34 percentage points from 31.09% in 2021[22] - The cash flow from operating activities for 2022 was CNY 1,500,578, a 5.94% increase from CNY 1,416,504 in 2021[21] - The company's total revenue for 2022 reached 855,081 million, an increase of 24.89% compared to the previous year[87] - The company's net cash received from tax refunds increased by 359.04% year-on-year, amounting to 226,539,000 RMB, mainly due to increased VAT refunds and import VAT returns[101] Dividends and Shareholder Returns - A cash dividend of RMB 5.1 per 10 shares (including tax) is proposed, amounting to a total cash dividend distribution of RMB 1.577 billion[8] - The total cash dividend amount for the reporting period was 1,577,220,386.43 RMB, representing 26.99% of the net profit attributable to ordinary shareholders in the consolidated financial statements[198] - The total dividend amount, including cash dividends, reached 1,677,867,552.39 RMB, which is 28.71% of the net profit attributable to ordinary shareholders[198] - The company approved the shareholder dividend return plan for the next three years (2022-2024) during the annual general meeting[157] Strategic Developments - The company plans to accelerate the development of clean energy and smart products, focusing on the integration of demand, resources, and facilities[4] - The company is committed to sustainable development and has established over 40 smart operation centers to enhance safety and compliance[3] - The company is actively pursuing low-carbon technologies in hydrogen production and energy storage, with over 40 hydrogen-related engineering projects completed[47] - The company has signed long-term purchase agreements totaling 7.64 million tons per year with international suppliers including Total and Chevron for natural gas procurement[41] - The company is enhancing its infrastructure capabilities by providing LNG unloading, storage, and emergency peak-shaving services, maximizing energy value across various scenarios[54] Market and Economic Outlook - The company anticipates a positive economic recovery in 2023, leveraging opportunities in the natural gas sector and digital transformation[4] - The demand for LNG imports is expected to rebound significantly in 2023, with a projected year-on-year growth of 5.41% in natural gas demand[136] - By 2030, China's natural gas consumption is expected to reach approximately 600 billion cubic meters, with a significant growth potential in the direct sales gas market, projected to exceed 150 billion cubic meters of incremental market size[128] Risk Management - The company aims to enhance its risk control by constructing a comprehensive risk management system covering all business areas and product categories[4] - The company faces risks related to gas source acquisition and price fluctuations, heavily relying on international procurement and major domestic suppliers[145] - The company has established multiple foreign currency and commodity derivative contracts to hedge against foreign exchange exposure and commodity price risks, primarily using these contracts as hedging tools[150] Governance and Management - The company has established a governance system that includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and coordinated operations[152] - The board of directors consists of 11 members, including 4 independent directors, and held 13 meetings in 2022, passing 77 resolutions on key issues like stock repurchase and internal control reports[153] - The company has a structured remuneration decision process based on industry standards and performance metrics, ensuring compliance with its remuneration management system[173] Operational Efficiency and Innovation - The company is focused on expanding its LNG trading and procurement capabilities, leveraging its expertise in international markets[163] - The company is investing in new technologies to improve operational efficiency and reduce costs in its LNG operations[163] - The company has developed a digital platform for the natural gas industry, focusing on data-driven smart trading and delivery, which has improved operational efficiency and facilitated industry collaboration[60] Employee and Workforce Development - The company has established a tiered training system to enhance employee capabilities and promote stable development[193] - The company reported a total of 38,967 employees, with 24,044 in production, 2,326 in sales, 7,530 in technology, 2,246 in finance, and 2,821 in administration[190] - The number of R&D personnel is 4,548, representing 11.67% of the total workforce[97] Environmental, Social, and Governance (ESG) Initiatives - The company has enhanced its ESG management, achieving a MSCI rating upgrade to BBB and being included in the Hang Seng A-Share Sustainable Development Enterprises Index, ranking among the top 30 in A-share ESG performance[63] - The company reviewed the 2021 annual environmental, social, and governance (ESG) report and set future ESG work directions in the March 17 meeting[187]