SGC(SH:601139)2020-04-28 16:00Financial Performance - The company's operating revenue for 2019 was CNY 14,025,273,714.19, representing a 10.08% increase compared to CNY 12,741,389,910.39 in 2018[15] - The net profit attributable to shareholders for 2019 was CNY 1,057,831,208.63, which is a 2.61% increase from CNY 1,030,929,806.22 in the previous year[15] - The total assets at the end of 2019 amounted to CNY 23,215,754,677.81, reflecting a 17.77% increase from CNY 19,712,419,073.18 in 2018[16] - The company's net cash flow from operating activities for 2019 was CNY 2,445,445,795.16, a significant increase of 31.85% compared to CNY 1,854,679,385.69 in 2018[15] - The basic earnings per share for 2019 was CNY 0.37, up 2.78% from CNY 0.36 in 2018[17] - The company's total operating revenue for Q1 2019 was approximately CNY 3.11 billion, Q2 was CNY 3.47 billion, Q3 was CNY 3.42 billion, and Q4 reached CNY 4.02 billion[19] - The net profit attributable to shareholders for Q1 2019 was CNY 238.31 million, Q2 was CNY 356.33 million, Q3 was CNY 323.49 million, and Q4 was CNY 139.71 million[21] - The company's total revenue from sales of goods and services reached ¥15,586,394,912.18, an increase from ¥14,209,015,450.48 in the previous year, representing a growth of approximately 9.66%[149] Assets and Liabilities - The company's total liabilities at the end of 2019 were CNY 11,649,952,746.34, which is a 16.09% increase from CNY 10,035,568,434.37 in 2018[16] - The company's total equity attributable to shareholders at the end of 2019 was CNY 11,019,954,427.04, representing a 19.82% increase from CNY 9,196,961,030.79 in 2018[16] - The company's asset-liability ratio decreased to 50.18% at the end of 2019, down from 50.91% in 2018, a reduction of 0.73 percentage points[16] - The total accounts receivable increased by 52.78% to ¥669,959,287.18, primarily due to increased receivables from natural gas and gas engineering[41] - Fixed assets increased by 32.90% to ¥11,677,244,631.28, reflecting the transfer of construction in progress to fixed assets[41] - The total liabilities reached ¥11,649,952,746.34, up from ¥10,035,568,434.37, which is an increase of approximately 16.1%[138] Cash Flow and Investments - The company achieved a net cash flow from operating activities of 2.445 billion RMB, representing a 31.85% increase compared to the previous year[32] - The cash received from the disposal of subsidiaries and other operating units increased significantly, reaching ¥11,050,153.57, attributed to the disposal of Nanjing Luyuan Gas Co., Ltd.[40] - The total cash inflow from operating activities was CNY 8,161,156,627.53, an increase of 11.8% compared to CNY 7,300,782,965.56 in 2018[152] - The cash outflow from investing activities was ¥3,441,153,068.51, up from ¥2,863,472,110.34, indicating an increase of approximately 20.14%[150] - The total cash inflow from financing activities was CNY 3,399,000,000.00, a decrease from CNY 4,247,100,000.00 in 2018[153] Market and Business Operations - The company operates in 45 cities across 9 provinces in China, focusing on urban pipeline gas supply and liquefied natural gas wholesale[26] - The company expects stable growth in natural gas sales due to favorable policies and urbanization trends in China[26] - The liquefied petroleum gas wholesale business faces challenges as users transition to natural gas, with future market expansion targeting areas without pipeline gas[26] - The company plans to enhance its market share in the bottled gas sector by integrating the bottled gas industry in Shenzhen[26] - The company has established a comprehensive R&D system with 243 intellectual property applications, including 124 invention patents[29] Corporate Governance and Management - The company appointed KPMG Huazhen LLP as the domestic accounting firm with an audit fee of RMB 1,700,000 for a term of 4 years[61] - The company has a structured compensation policy based on performance evaluation and industry standards to attract and retain talent[103] - The company has a diverse board with members holding significant positions in other major firms, enhancing its strategic network[94] - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations, and maintaining independent operations from its controlling shareholder[106] Social Responsibility and Community Engagement - The company has been actively involved in environmental protection and promoting clean energy as part of its corporate social responsibility[76] - The company implemented targeted poverty alleviation initiatives in Meixi Village, including education support and infrastructure improvements, to ensure the effective implementation of poverty alleviation policies[70] - A total of 171 impoverished individuals were lifted out of poverty by the end of 2019, representing a significant achievement in the company's poverty alleviation efforts[73] - The company allocated CNY 234,000 to support 34 impoverished students' education in 2019[74] Future Outlook and Strategic Goals - The company plans to continue expanding its gas supply services and infrastructure development in the Shenzhen area, aiming for increased market penetration and customer base growth[161] - The company aims to achieve natural gas sales of 4 billion cubic meters and liquefied petroleum gas sales of 550,000 tons in 2020[52] - The company plans to enhance customer service capabilities, with an investment of 30 million in training and technology upgrades[96] - The company is actively pursuing a strategy of market expansion and integration, aiming to enhance its position as a leading clean energy operator in China[51]