Financial Performance - Revenue decreased by approximately 23% to RMB 7,427,000,000 compared to RMB 9,614,300,000 in 2022[2] - Profit attributable to owners of the company was RMB 106,100,000, down from RMB 420,100,000 in 2022[2] - Basic earnings per share decreased to RMB 0.068 from RMB 0.268 in 2022[2] - Gross profit was RMB 1,070,287,000, down from RMB 1,288,929,000 in 2022[4] - The company reported a total rental income from investment properties of RMB 6,356,723,000 in 2023, compared to RMB 8,237,584,000 in 2022, reflecting a decline of 22.8%[7] - The group reported a loss of RMB 20,992 thousand from the sale of property, plant, and equipment in 2023, compared to a loss of RMB 2,806 thousand in 2022[16] - The company’s net profit attributable to shareholders for 2023 was RMB 106,088,000, a decrease of 74.7% compared to RMB 420,072,000 in 2022[21] - Net profit for the group in 2023 was RMB 111.2 million, a decrease of RMB 312.8 million from RMB 424 million in 2022[48] Assets and Liabilities - Total assets decreased to RMB 19,282,899,000 from RMB 21,146,284,000 in 2022[5] - Non-current assets decreased to RMB 9,363,152,000 from RMB 9,948,966,000 in 2022[5] - Current liabilities decreased to RMB 2,217,566,000 from RMB 2,195,224,000 in 2022[6] - Net asset value decreased to RMB 17,206,801,000 from RMB 17,390,864,000 in 2022[6] - The company's total liabilities amounted to RMB 825,163,000 in 2023, a decrease of 13.0% from RMB 948,248,000 in 2022[30] - Total assets decreased by approximately 4% to RMB 20.28 billion as of December 31, 2023, compared to RMB 21.15 billion in 2022[49] Cash Flow and Expenditures - Cash and cash equivalents increased to approximately RMB 9.26 billion in 2023 from RMB 8.90 billion in 2022[49] - Operating cash inflow decreased from RMB 1.61 billion in 2022 to RMB 1.53 billion in 2023[50] - Capital expenditures for the year ended December 31, 2023, were approximately RMB 301 million, down from RMB 379.6 million in 2022[51] Dividends - The board proposed a final dividend of RMB 0.041 per share[2] - The company declared a proposed final dividend of RMB 4.1 cents per share for the year ending December 31, 2023, totaling approximately RMB 64,241,000[20] - The proposed final dividend is 4.1 cents per share, subject to approval at the upcoming annual general meeting[60] Industry and Market Trends - The national cement production in 2023 was 2.02 billion tons, reflecting a year-on-year decrease of 0.7%[34] - The estimated profit for the cement industry in 2023 is approximately RMB 32 billion, representing a year-on-year decline of around 50%[34] - Cement prices are likely to continue fluctuating at low levels due to high inventory and weak demand, with ongoing competition among companies[58] - The real estate market is anticipated to stabilize in 2024, supported by favorable policies, although the impact on cement demand will take time to materialize[57] Operational Strategy - The group will focus on high efficiency, quality, service, and environmental protection in its operational strategy to enhance customer experience and reduce production costs[59] - The group plans to implement peak-shaving production policies to address supply-demand imbalances, although the overall supply will still exceed demand[58] - The group will continue to leverage its comprehensive logistics advantages to improve operational efficiency and maintain core market share[59] Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules throughout the fiscal year ending December 31, 2023[63] - The audit committee, established on April 27, 2008, is responsible for reviewing the financial reporting, risk management, and internal control systems of the group[63] - No purchases, sales, or redemptions of the company's listed securities were made by the company or any of its subsidiaries during the fiscal year ending December 31, 2023[65] Employee and Operational Costs - The total employee costs for 2023 amounted to RMB 569,578,000, down from RMB 582,010,000 in 2022, reflecting a reduction of 2.4%[7] - Distribution and sales expenses increased from RMB 437.2 million in 2022 to RMB 447.3 million in 2023, primarily due to increased unloading costs for cement products[46] - Administrative expenses rose approximately 6% from RMB 319 million in 2022 to RMB 337.8 million in 2023[46] Taxation - The income tax expense for the group was RMB 360,396 thousand in 2023, compared to RMB 265,009 thousand in 2022, reflecting an increase in current tax liabilities[17] - Income tax expenses increased by approximately 36%, from RMB 265 million in 2022 to RMB 360.4 million in 2023[46]
亚洲水泥(中国)(00743) - 2023 - 年度业绩