贝肯能源(002828) - 2019 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2019 was CNY 1,408,054,624.02, representing a 55.68% increase compared to CNY 904,426,084.97 in 2018[16]. - The net profit attributable to shareholders for 2019 was CNY 43,502,136.64, a decrease of 4.28% from CNY 45,446,937.32 in 2018[16]. - The net profit after deducting non-recurring gains and losses was CNY 32,947,856.79, down 15.39% from CNY 38,940,919.33 in 2018[16]. - Basic earnings per share for 2019 were CNY 0.220, a decrease of 4.35% from CNY 0.230 in 2018[16]. - Total assets at the end of 2019 were CNY 2,522,693,035.55, an increase of 34.16% from CNY 1,880,390,459.21 at the end of 2018[16]. - The net assets attributable to shareholders at the end of 2019 were CNY 971,870,768.92, a slight increase of 1.53% from CNY 957,221,157.44 at the end of 2018[16]. - The company reported a negative operating cash flow of CNY -82,885,475.55, compared to a positive cash flow of CNY 171,125,046.65 in 2018, marking a significant decline of 148.44%[16]. - The company reported a net cash decrease of ¥208,799,185.98, a decline of 212.91% compared to the previous year[61]. Revenue Breakdown - The oil and gas exploration and development segment generated ¥1,399,020,742.56, accounting for 99.36% of total revenue, with a year-on-year growth of 55.51%[47]. - The drilling engineering product line contributed ¥1,291,445,401.26, representing 91.72% of total revenue, with a growth rate of 55.37% compared to the previous year[47]. - The South Xinjiang region saw a remarkable revenue increase of 1,385.69%, reaching ¥149,876,930.78, compared to ¥10,088,049.30 in 2018[47]. - The Southwest region's revenue surged by 379.38% to ¥353,654,240.81, up from ¥73,772,500.00 in 2018[47]. - The North Xinjiang region's revenue remained stable with a slight increase of 0.58%, totaling ¥607,210,591.80[47]. Cash Dividends - The company plans to distribute a cash dividend of CNY 0.6 per 10 shares, based on a total of 203,202,700 shares[4]. - The cash dividend for 2019 amounted to CNY 12,192,100, representing 28.03% of the net profit attributable to ordinary shareholders[97]. - A cash dividend of CNY 0.60 per 10 shares (including tax) was proposed, totaling CNY 12,192,100.00, which represents 24.93% of the distributable profit[99]. Investments and Assets - The company has 5,774.43 million CNY of remaining raised funds permanently allocated to supplement working capital for daily operations[74]. - The total amount of raised funds is 32,103.88 million CNY, with 28,755.53 million CNY utilized by the end of the reporting period, representing 89.6% of the total raised[69]. - The company reported a total of 423,913,444.33 CNY in restricted asset rights by the end of the reporting period[67]. - The company has 3,347,787.8 CNY in trading financial assets at fair value at the end of the reporting period[65]. - The company has 24,949,655 CNY in receivables financing at the end of the reporting period[65]. Research and Development - Research and development expenses increased by 79.46% to ¥23,799,014.55, driven by higher investment in R&D[59]. - The company conducted four major technological research projects in 2019, with one receiving significant project support from Karamay City[34]. - The company developed the BK-MWD measurement instrument, which has achieved mass production and has been used for over 1,000 hours[43]. - The company is focusing on enhancing core drilling services and directional well technology to optimize the oilfield engineering service industry chain[25]. Market Strategy - The company aims to become an international oilfield technology service provider capable of independently offering comprehensive solutions for oil and gas exploration and development[25]. - The company has established a strategic layout in four major markets: the Sichuan Basin, Tarim Basin, Junggar Basin, and overseas in Ukraine[27]. - The company is focusing on the Longjing shale gas drilling project in the Sichuan Basin to optimize engineering service capabilities and maximize cost savings[85]. - The company intends to expand its market share in Ukraine's drilling sector and build a trusting relationship with Halliburton[85]. Corporate Governance - The company has established a comprehensive QHSE management system to improve safety and operational compliance[41]. - The company has a structured approach to managing its equity incentives, ensuring compliance with regulatory standards[147]. - The governance structure includes a clear separation between the company and its controlling shareholders, ensuring independent operations[181]. - The company has maintained a consistent shareholding structure among its key executives, indicating stability in management[162]. Employee and Community Engagement - The total number of employees in the company is 1,659, with 1,308 in the parent company and 351 in major subsidiaries[173]. - The company has implemented measures to enhance employee welfare, including health consultations and improved living conditions[134]. - The company has engaged in community support activities, donating 20,000 CNY worth of flowers, cakes, and educational supplies to local schools[134]. Risks and Challenges - The company faces risks related to fluctuations in oil and gas exploration investment, which can directly impact demand for its services[90]. - The company has identified the need for improved cost control due to rapid market development investments[84]. - The company recognizes the necessity for enhanced internal control procedures and organizational efficiency[84].