Financial Performance - The company's operating revenue for 2022 was approximately RMB 7.78 billion, representing a 7.26% increase from RMB 7.25 billion in 2021[16]. - The net profit attributable to shareholders for 2022 was approximately RMB 1.91 billion, a decrease of 8.11% compared to RMB 2.08 billion in 2021[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 1.75 billion, remaining stable compared to RMB 1.75 billion in 2021[16]. - The net cash flow from operating activities for 2022 was approximately RMB 2.69 billion, a decrease of 1.46% from RMB 2.73 billion in 2021[16]. - Basic earnings per share for 2022 was CNY 0.40, a decrease of 6.98% compared to CNY 0.43 in 2021[17]. - The total amount of non-recurring gains and losses for 2022 was CNY 158.36 million, compared to CNY 326.81 million in 2021[21]. - The company reported a net profit margin of 12% for 2022, an increase from 10% in the previous year[81]. - The company achieved a total operating revenue of RMB 7,778,871,869.01, representing a 7.26% increase compared to RMB 7,252,254,088.48 in the previous year[33]. Assets and Liabilities - As of the end of 2022, the net assets attributable to shareholders were approximately RMB 17.07 billion, an increase of 3.89% from RMB 16.43 billion at the end of 2021[16]. - The total assets as of the end of 2022 were approximately RMB 31.96 billion, reflecting a 9.28% increase from RMB 29.24 billion at the end of 2021[16]. - The company's long-term borrowings increased by 64.57%, from ¥1,983,514,520.52 to ¥3,264,327,598.10[51]. - Total liabilities reached ¥14.79 billion, up from ¥12.74 billion, which is an increase of 16.06%[193]. - The debt-to-asset ratio increased by 6.20% from 43.57% in 2021 to 46.27% in 2022[182]. Operational Highlights - The company processed a total of 1.479 billion cubic meters of wastewater, a decrease of 0.45% year-on-year, while tap water sales reached 643 million cubic meters, an increase of 3.62% year-on-year[25]. - The company expanded its daily water supply capacity to 3.2215 million cubic meters, with an increase of 196,000 cubic meters, and its daily wastewater treatment capacity reached 4.60595 million cubic meters, with an increase of 357,400 cubic meters[25]. - The company launched 76 technology projects and completed 174 innovation projects, obtaining 219 patents during the year[26]. - The company reported a COD reduction of nearly 313,600 tons and an ammonia nitrogen reduction of approximately 32,800 tons in its wastewater treatment operations[26]. - The company processed a total of 1.451 billion cubic meters of wastewater during the year, achieving a reduction of approximately 313,600 tons of COD and 32,800 tons of NH3-N[118]. Market Position and Strategy - The company holds approximately 55% of the drinking water market and about 86% of the sewage treatment market in Chongqing, with joint ventures covering around 90% and 95% respectively[27]. - The company is expanding its market presence into provinces such as Sichuan, Yunnan, Hubei, and Henan, aiming to become a leading comprehensive water service provider in China[27]. - The company is focusing on technological advancements and smart water management to improve efficiency and reduce leakage rates in the water supply sector[27]. - The company is actively pursuing mergers and acquisitions to expand its service capabilities and market reach within the water management sector[27]. - The company aims to achieve an asset scale of 50 billion yuan and revenue exceeding 10 billion yuan by the end of 2025, with a total water supply and drainage capacity of over 9.3 million m³/day and daily sludge treatment capacity of 4,680 tons[68]. Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Accounting Firm for the fiscal year[2]. - The company maintained strict compliance with information disclosure regulations, ensuring no false records or significant omissions occurred during the reporting period[73]. - The board of directors consists of 7 members, including 3 independent directors, and all directors fulfilled their duties diligently without any absences[73]. - The company has established a clear decision-making process for related transactions to protect shareholder interests[73]. - The company has not reported any significant changes in related party transactions or competition that would impact its operations[75]. Future Outlook - For 2023, the company targets a revenue of 8 billion yuan and a net profit of 1.815 billion yuan[69]. - The company plans to maintain a water supply leakage rate below 8.5% and ensure 100% compliance with water quality standards[69]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[80]. - The company plans to increase investment in research and development to drive innovation and improve product offerings[79]. - The company is considering strategic acquisitions to enhance its service offerings, with a target of acquiring two companies by the end of the year[80]. Social Responsibility - The company actively participated in social responsibility initiatives, donating 500,000 yuan for the construction of a water plant in Shizhu Qiaotou Town and supporting consumption poverty alleviation with 430,000 yuan[26]. - The company has committed to avoiding competition with Chongqing Water Affairs and ensuring that any business opportunities that may compete will be notified and transferred to Chongqing Water Affairs[127]. - The company is committed to rural revitalization efforts, as discussed in the board meeting on November 10, 2022[89].
重庆水务(601158) - 2022 Q4 - 年度财报