Shuifa Energas(SH:603318)2023-03-21 16:00Financial Performance - The company achieved a net profit of RMB 127.23 million in 2022, with a net profit attributable to shareholders of RMB 44.63 million[4]. - The proposed cash dividend distribution is RMB 0.30 per 10 shares, totaling RMB 13.77 million to be distributed to shareholders[4]. - The company reported a net profit of RMB 5.40 million for the parent company in 2022, with cumulative undistributed profits of RMB 24.64 million[4]. - The company's operating revenue for 2022 was CNY 3,869,545,989.82, representing a 48.38% increase compared to 2021[24]. - Net profit attributable to shareholders for 2022 was CNY 44,626,469.09, an increase of 8.27% year-on-year[24]. - The net cash flow from operating activities reached CNY 343,532,728.40, up 58.31% from the previous year[24]. - The total assets at the end of 2022 amounted to CNY 4,353,688,834.87, reflecting a 46.33% growth compared to the end of 2021[24]. - The net assets attributable to shareholders increased to CNY 1,589,461,228.80, a rise of 53.87% from the previous year[25]. - Basic earnings per share for 2022 were CNY 0.12, a 9.09% increase from CNY 0.11 in 2021[23]. - The weighted average return on equity for 2022 was 4.14%, slightly up from 4.06% in 2021[23]. Revenue Growth - The company achieved a total operating revenue of 3.87 billion RMB in 2022, representing a year-on-year growth of 48.38%[33]. - The LNG segment generated revenue of 2.41 billion RMB, with a year-on-year increase of 43.32%[35]. - The urban gas segment reported revenue of 1.23 billion RMB, reflecting a growth of 75.1% year-on-year, with 1.46 million new residential users added[36]. - The company reported a significant increase in cash flow due to improved profitability and tax refunds[24]. - The domestic business revenue reached CNY 3,738.54 million, a growth of 48.22% year-on-year, driven by increased LNG and gas operation business[67]. Investments and Acquisitions - The company completed a major asset restructuring, issuing 75.53 million shares at 6.06 RMB per share, raising 110 million RMB in matching funds[34]. - The company completed the acquisition of 51% stakes in Tongliao Longshengfeng and Tieling Longshengfeng, marking its entry into the upstream natural gas long-distance pipeline business[52]. - The company invested CNY 10,000,000.00 in Tieling Longshengfeng Natural Gas Co., holding a 51% stake, completed in December 2021[97]. - The company also invested CNY 20,000,000.00 in Tongliao Longshengfeng Natural Gas Co., with a 51% stake, completed in December 2021[97]. - The company is focusing on expanding its market presence through strategic acquisitions and partnerships, as indicated in various extraordinary general meetings throughout 2022[137][138]. Research and Development - Research and development investment amounted to 15.89 million RMB, a 24.19% increase from the previous year, with 4 invention patents applied for[37]. - The company invested 15.88 million yuan in R&D, focusing on enhancing its technological capabilities in the gas equipment sector[58]. - The company applied for 2 invention patents and 41 utility model patents in 2022, with 25 utility model patents currently authorized[59]. - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience and operational efficiency[145]. - The company has invested 100 million RMB in R&D for new technologies aimed at improving energy efficiency[144]. Risk Management - The company has detailed potential risks in the report, which investors should review[7]. - The company is focused on risk prevention, particularly in financial risk management, aiming to reduce the asset-liability ratio through comprehensive budget management[123]. - The company faces potential policy risks that could impact market supply and demand, particularly with the establishment of the national pipeline company affecting gas source procurement[127]. - LNG price volatility poses a risk to the company's profitability, with efforts underway to enhance the LNG business's resilience against price fluctuations[128]. - The company has not experienced major gas safety incidents but acknowledges the ongoing risk of accidents due to the flammable nature of natural gas[129]. Corporate Governance - The company has established a clearer corporate governance structure, completing various corporate changes and mergers in 2022[39]. - The board of directors includes more than 50% external and independent directors, who actively provide independent opinions to safeguard the interests of all shareholders[133]. - The company has implemented a transparent performance evaluation and incentive mechanism for directors, supervisors, and management personnel, ensuring compliance with legal regulations[134]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and protection of shareholder rights, particularly for minority shareholders[132]. - The company has maintained a robust investor relations program, engaging with nearly 1,200 participants during the annual performance briefing and utilizing multiple channels for investor communication[135]. Environmental Initiatives - The company is committed to achieving the national "carbon peak" and "carbon neutrality" goals through its clean energy initiatives[194]. - The company has effectively controlled gas losses and prevented methane gas emissions through regular maintenance and monitoring of gas facilities[189]. - The company has implemented ISO14001 environmental management system certification in its gas equipment subsidiary[187]. - The company has contributed 0.09 million yuan to charitable activities, including support for families in need and COVID-19 relief efforts[191]. - The company is actively promoting the use of clean energy in rural areas, significantly reducing air pollution and carbon dioxide emissions[188]. Future Outlook - The company plans to focus on urban gas, LNG, and distributed energy as core businesses, with a strategic goal of becoming a leading domestic natural gas operator[115]. - The company aims to enhance management efficiency and reduce costs through refined management practices and internal resource optimization[118]. - The company is exploring hydrogen energy transport and utilization, natural gas power generation, and clean heating as part of its future revenue sources[116]. - The company provided guidance for 2023, expecting revenue to grow by 10% to 1.65 billion[149]. - The company is expected to engage in daily related transactions in 2022, as outlined in the annual general meeting held in May 2022[138].