Jovo Energy(SH:605090)2023-03-07 16:00Financial Performance - Basic earnings per share for 2022 increased by 61.47% to CNY 1.76 compared to CNY 1.09 in 2021 [25]. - Net profit attributable to shareholders reached 108,992.54 million RMB, up 75.87% year-on-year, driven by the establishment of a dual resource pool of "marine gas + land gas" and improved resource allocation capabilities [26]. - The diluted earnings per share were 1.76 RMB, representing a 61.47% increase compared to the previous year [26]. - The basic earnings per share after deducting non-recurring gains and losses was 1.71 RMB, a 54.05% increase year-on-year [26]. - The weighted average return on net assets was 17.67%, an increase of 3.50 percentage points from the previous year [26]. - The net assets attributable to shareholders at the end of the reporting period were 694,179.74 million RMB, a year-on-year increase of 20.98% [52]. - The company achieved operating revenue of 2,395,364.02 million RMB, a year-on-year increase of 29.56%, primarily due to a significant rise in LNG sales prices and an increase in LPG sales volume and price [26]. - The company’s cash flow from operating activities was CNY 169,580.22 million, a significant increase of 1,794.57% year-on-year [76]. - The net profit after deducting non-recurring gains and losses was CNY 1,057,124,807.33, up 65.47% year-on-year [74]. - The company’s total assets reached CNY 11,309,351,401.89, a 46.04% increase from the previous year [74]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.30 per share (including tax), totaling CNY 185,611,183.20 based on a total share count of 618,703,944 shares after accounting for repurchased shares [5]. - The company has not proposed any capital reserve conversion to increase share capital or issue bonus shares in its profit distribution plan [5]. - The company initiated two share repurchase plans, with the first repurchase totaling 7,000,080 shares (1.13% of total shares) for 150,736,900 yuan, and the second repurchase involving 2,108,700 shares for 44,043,400 yuan [97]. Strategic Initiatives and Acquisitions - The company has completed the acquisition of 100% equity in SenTai Energy, which was a significant asset restructuring in 2022 [18]. - The company completed the acquisition of 100% equity in SenTai Energy for a transaction price of 1.8 billion yuan, with SenTai Energy reporting revenue of 310,187.65 thousand yuan and a net profit of 30,186.06 thousand yuan in 2022 [94]. - The company plans to invest in a liquefied hydrocarbon terminal project and a supporting LPG storage base to enhance integrated service capabilities [70]. - The company has established a strategic plan for energy services and specialty gas business development to adapt to market changes [86]. Market and Industry Trends - The domestic natural gas apparent consumption decreased by 1.7% in 2022, totaling 366.3 billion cubic meters, influenced by high prices and pandemic effects [102]. - China's LNG apparent consumption in 2022 was 8,029.5 thousand tons, a decrease of 15.79% year-on-year due to sustained high prices [105]. - The clean energy business achieved steady and innovative development, with the energy service and specialty gas businesses incorporated into the company's core operations [118][119]. - The global LNG new ship order volume surged by 95% in 2022, with China’s new orders increasing by 480%, capturing over 30% of the market share [145]. - The special gas market in China grew at a compound annual growth rate (CAGR) of 17% from 2016 to 2021, reaching a market size of 34.2 billion RMB in 2021 [171]. Operational Focus and Future Plans - The company is focused on expanding its market presence and enhancing its product offerings in the clean energy sector [3]. - The company plans to continue strengthening its resource allocation and pricing capabilities in the future [26]. - The company is actively exploring market expansion opportunities and new product development strategies [26]. - The company aims to mitigate the impact of LNG price fluctuations on profitability through various pricing strategies, including price linkage and back-to-back transactions [91]. - The company is actively exploring energy logistics services by opening up LNG shipping, receiving, and storage assets to third parties [92]. - The company is focusing on optimizing its customer structure, prioritizing existing customers to enhance loyalty while cautiously expanding new customer bases [91]. Digital Transformation and Innovation - The company’s digital transformation efforts are aimed at enhancing the upgrade of clean energy service businesses [98]. - The company’s digital transformation in clean energy business focuses on green low-carbon, safe production, and smart operations, enhancing customer energy efficiency and satisfaction [128]. Environmental Commitment - The company emphasizes its commitment to clean energy services, highlighting its value and creativity in the sector [3]. - The company has positioned itself as a "value-creating clean energy service provider," focusing on the clean energy industry through a dual resource pool of "marine gas + land gas," gradually forming an "end-to-end" integrated industrial chain [114].