Hengsheng Energy(SH:605580)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was CNY 887,132,358.48, representing a 15.12% increase compared to CNY 770,618,703.50 in 2021[21]. - The net profit attributable to shareholders for 2022 was CNY 137,753,662.46, up 10.59% from CNY 124,561,132.13 in the previous year[21]. - The net profit excluding non-recurring gains and losses was CNY 128,982,200.62, reflecting a 9.05% increase from CNY 118,278,048.82 in 2021[21]. - Cash flow from operating activities decreased by 67.60% to CNY 50,379,506.71 from CNY 155,492,267.08 in 2021[21]. - Total assets at the end of 2022 were CNY 1,096,432,257.55, a 4.55% increase from CNY 1,048,721,709.86 at the end of 2021[21]. - The company's net assets attributable to shareholders increased by 4.49% to CNY 885,233,858.90 from CNY 847,215,935.14 in 2021[21]. - Basic earnings per share decreased by 8.00% to 0.69 yuan per share in 2022[22]. - The weighted average return on equity fell by 6.92 percentage points to 16.06%[22]. - The gross profit margin for operating revenue was 25.31%, with a main business gross profit margin of 24.77%[60]. - The revenue from steam sales reached ¥670,133,277.16, growing by 20.69% year-on-year[64]. - The cost of sales increased to ¥662,624,046.41, a rise of 14.81% from the previous year, primarily due to higher coal procurement costs[57]. Dividends and Shareholder Returns - The board proposed a cash dividend of CNY 6.00 per 10 shares and a capital reserve transfer of 4 shares for every 10 shares held[5]. - The profit distribution plan indicates that the cash dividend accounts for 87.11% of the net profit attributable to ordinary shareholders in the consolidated financial statements[143]. Environmental and Operational Initiatives - The company emphasized low-carbon and clean production, achieving no major environmental pollution incidents in the year[32]. - The average annual consumption of biomass fuel was approximately 140,000 tons, equivalent to saving about 60,000 tons of standard coal[32]. - The company achieved ultra-low emissions for air pollutants, with SO2, NOX, and particulate matter emissions reduced by 50%, 65%, and 50% respectively, complying with national standards[54]. - The company implemented a wastewater treatment system that meets national and local discharge standards, with all wastewater being reused[150]. - The company has established an online monitoring system for boiler flue gas emissions, ensuring real-time compliance with emission standards[154]. - The company invested approximately 22.31 million yuan in environmental protection during the reporting period[148]. - The company achieved 100% compliance in the disposal of general solid waste and hazardous waste[149]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[111]. - The company held 2 shareholder meetings during the reporting period, ensuring compliance with legal requirements and allowing all shareholders, especially minority shareholders, to exercise their voting rights[112]. - The company maintained independent operations and decision-making capabilities, with no interference from the controlling shareholder during the reporting period[113]. - The company has established information disclosure management systems to ensure accurate and complete information dissemination, with no insider trading incidents reported[117]. - The company has a structured governance framework with specialized committees that enhance operational efficiency and compliance[114]. - The company has not faced any penalties from securities regulatory authorities in the past three years[127]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[196]. - The company has not experienced any major accounting errors that would require correction[198]. Risks and Challenges - The company faces risks from potential changes in industrial policies, particularly regarding the "coal-to-gas" initiative, which could adversely affect its operations if enforced[101]. - The company acknowledges the impact of raw material price fluctuations, particularly for coal and biomass fuels, on its gross profit margin[104]. - The company is actively seeking to develop cogeneration projects outside its current operational area to mitigate risks associated with regional concentration[103]. Research and Development - The company’s R&D expenses surged to ¥10,435,423.10, a significant increase of 749.55% compared to the previous year[58]. - The number of R&D personnel is 47, representing 21.36% of the total workforce[72]. - The company is increasing investment in research and development for biomass cogeneration technology and pollution control technology, focusing on key technologies and processes[99]. Strategic Development - The company aims to transform from a regional cogeneration enterprise to a green and intelligent energy enterprise with significant influence in Zhejiang Province and nationwide, continuously creating value for investors[97]. - The company plans to enhance its operational management through market expansion, talent development, internal control improvement, and mergers and acquisitions to achieve high-quality growth[98]. - The company is committed to integrating new information technologies such as big data and cloud computing to enhance operational efficiency and reduce maintenance costs[95]. Community Engagement - The company made a total of 612,000 yuan in donations for public welfare projects, including support for rural revitalization[159]. - The company contributed 401,700 yuan towards poverty alleviation and rural revitalization projects, including a donation of 170,000 yuan to Xinjiang Zuosheng Agricultural Development Co., Ltd.[159].