Shuifa Energas(SH:603318)2023-10-27 16:00Financial Performance - The company achieved a net profit of RMB 127.23 million for the year 2022, with a net profit attributable to shareholders of RMB 44.63 million[4]. - As of December 31, 2022, the company's cumulative undistributed profits amounted to RMB 49.69 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 3,425,603,253.74, representing a 42.90% increase compared to CNY 2,397,285,306.64 in 2021[25]. - Net profit attributable to shareholders for 2022 was CNY 44,626,469.09, an increase of 8.27% from CNY 41,217,797.72 in 2021[25]. - The net cash flow from operating activities for 2022 was CNY 343,532,728.40, up 58.31% from CNY 216,999,655.53 in 2021[25]. - Total assets at the end of 2022 reached CNY 4,353,688,834.87, a 46.33% increase from CNY 2,975,321,472.93 at the end of 2021[25]. - The net assets attributable to shareholders at the end of 2022 were CNY 1,589,461,228.80, reflecting a 53.87% increase from CNY 1,032,968,901.67 at the end of 2021[25]. - Basic earnings per share for 2022 were CNY 0.12, a 9.09% increase from CNY 0.11 in 2021[26]. - The weighted average return on equity for 2022 was 4.14%, an increase of 0.08 percentage points from 4.06% in 2021[26]. Business Segments and Growth - The LNG segment generated revenue of 1.961 billion RMB, a year-on-year increase of 33.63%[38]. - The urban gas segment reported revenue of 1.234 billion RMB, reflecting a growth of 75.1% year-on-year, with 1.46 million new residential users added[39]. - The equipment manufacturing segment achieved revenue of 199 million RMB, a slight increase of 1.58% year-on-year, with new contract value reaching 260 million RMB, up 18%[39]. - The company expanded its consolidated financial statements to include Tongliao Longshengfeng and Tieling Longshengfeng, contributing to revenue growth[27]. - The company completed a major asset restructuring, issuing 75.5263 million shares at a price of 6.06 RMB per share, raising 110 million RMB in total[37]. - The company completed the acquisition of 51% stakes in Tongliao Longshengfeng and Tieling Longshengfeng, expanding into upstream natural gas long-distance pipeline business[55]. Research and Development - R&D investment for the year was 15.8878 million RMB, marking a 24.19% increase from the previous year[40]. - The company applied for 2 invention patents and 41 utility model patents in 2022, with 25 utility model patents granted to date[62]. - The company successfully designed and supplied the world's first natural gas and hydrogen mixed medium pressure regulating station for a project, marking a significant innovation in the industry[62]. - The company aims to establish a comprehensive research and innovation platform integrating government, industry, academia, research, and application to enhance its technological innovation capabilities[62]. Risk Management and Compliance - The company has outlined potential risks in its future development strategies, which are detailed in the report[7]. - The report includes a standard unqualified audit opinion from the accounting firm, ensuring the accuracy and completeness of the financial statements[5]. - The company has established a comprehensive risk management system to enhance financial data analysis and fund usage supervision[187]. - The company has not reported any significant internal control deficiencies during the reporting period[187]. - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations[135]. Market and Industry Outlook - In 2022, the company's natural gas apparent consumption in China was 366.3 billion cubic meters, a decrease of 1.7% year-on-year[51]. - The company imported 10.924 million tons of natural gas in 2022, down 9.9% year-on-year, with LNG imports decreasing by 19.5% to 6.344 million tons[51]. - The average price of LNG in China for 2022 was 6,468.761 RMB per ton, reflecting a year-on-year increase of 31.57%[49]. - The natural gas market in China is expected to see a recovery in consumption as the economy stabilizes, with IEA predicting a global consumption growth rate of 0.34% in 2023[113]. - The government aims to increase natural gas consumption to 4,300-4,500 billion cubic meters by 2025 and 5,500-6,000 billion cubic meters by 2030[114]. Corporate Governance and Shareholder Relations - The company actively engages with investors, holding performance briefings and utilizing multiple communication channels to maintain good investor relations[138]. - The company has implemented strict insider information management practices to protect investor rights and ensure fair information disclosure[138]. - The company held multiple shareholder meetings in 2022, including resolutions for mergers and investments in subsidiaries[140]. - The company has a three-year shareholder return plan (2022-2024) that was discussed and approved in the annual general meeting[141]. - The total remuneration for the board members and senior management during the reporting period amounted to 569.11 million yuan[145]. Social Responsibility and Sustainability - The company is actively involved in social responsibility initiatives, including volunteer services and donations to support vulnerable groups[44]. - The company invested 1.1564 million yuan in environmental protection during the reporting period, excluding investments in gas replacement projects[190]. - The company aims to optimize energy structure in rural areas by promoting natural gas usage, significantly reducing air pollution and carbon emissions[192]. - The company donated a total of 90,000 yuan for various charitable activities, including support for families in crisis and COVID-19 relief efforts[195]. - The company has implemented new strategies to improve customer service, aiming for a 90% customer satisfaction rate by the end of 2023[150].