陕天然气(002267) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was ¥8,999,288,324.24, representing a year-over-year increase of 17.75% from ¥7,642,949,839.74 in 2017[20] - The net profit attributable to shareholders for 2018 was ¥404,187,524.13, a slight increase of 2.21% compared to ¥395,429,092.40 in 2017[20] - The basic earnings per share for 2018 was ¥0.3635, up 2.22% from ¥0.3556 in 2017[20] - The total profit amounted to 483 million yuan, with a slight increase of 0.03% year-on-year[51] - The company reported a net cash flow from operating activities of ¥614,861,244.77 in 2018, a decrease of 45.15% from ¥1,121,044,421.53 in 2017[84] - The company’s net profit for 2018 was reported at 404,187,524.13 CNY, reflecting a stable financial performance despite market challenges[127] Assets and Liabilities - Total assets at the end of 2018 were ¥11,724,077,442.51, an increase of 8.69% from ¥10,786,584,873.26 at the end of 2017[23] - The company’s total assets were 11.724 billion yuan, with total liabilities of 5.911 billion yuan, resulting in an asset-liability ratio of 50.42%[51] - The company’s total liabilities for accounts payable and notes payable increased to 1,419,137,285.80 after merging these items[143] Cash Flow and Dividends - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders[6] - The cash dividend for 2018 represents 27.51% of the net profit attributable to ordinary shareholders, which was 404,187,524.13 CNY[127] - The company distributed a cash dividend of 3.00 CNY per 10 shares for the 2017 fiscal year, totaling 333,622,633.50 CNY based on a share capital of 1,112,075,445 shares[121] - The company’s cash dividends over the past three years have been 166,811,316.75 CNY in 2016, 333,622,633.50 CNY in 2017, and 111,207,544.50 CNY in 2018[127] Operational Highlights - The company operates over 40 natural gas pipelines with a total length of 3,466 kilometers and an annual gas transmission capacity of 16.5 billion cubic meters[34] - The company achieved a gas sales volume of 6.101 billion cubic meters, a year-on-year increase of 9.24%[51] - The company expanded its urban gas sales volume to 383 million cubic meters, a year-on-year increase of 26.82%[53] - The company’s gas pricing for residential use is set at 1.49-1.546 yuan per cubic meter, while non-residential pricing ranges from 1.546 to 2.0011 yuan per cubic meter[173] Research and Development - Research and development expenses amounted to ¥13,076,252.51, reflecting a significant increase of 31.53% year-on-year[60] - The company expanded its R&D team, increasing the number of R&D personnel from 29 in 2017 to 49 in 2018, a growth of 68.97%[81] Market Strategy and Growth - The company plans to enhance gas infrastructure to increase household gas usage and expand industrial gas supply services in areas with low gas penetration[35] - The company aims to develop 38,000 new users in the upcoming year[110] - The company intends to increase its market share in urban gas by improving infrastructure and actively exploring market consolidation through acquisitions and mergers[110] Legal and Compliance Issues - The company has initiated arbitration against West Blue Company for overdue payments, with a claim amount of CNY 25.86 million[156] - The company has recognized risks associated with receivables from Xilan Company, indicating potential difficulties in full recovery[160] - The company has been involved in a lawsuit regarding compensation for mining resource losses amounting to 2.41 million yuan, with additional claims for construction and auxiliary facilities pending evaluation[164] Future Projections - The projected operating revenue for 2019 is 10.133 billion yuan, with a total profit of 402 million yuan and earnings per share of 0.3174 yuan[110] - The company plans to complete a total gas sales volume of 6.506 billion cubic meters in 2019, with urban gas pipeline sales volume of 465 million cubic meters[110]