Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 46,065.9 million, an increase of 6.8% compared to the previous year[2]. - The profit attributable to shareholders for the year was RMB 860.8 million, a decrease of 53.6% year-on-year[2]. - Basic earnings per share for the year were RMB 0.19, down 54.8% from the previous year[2]. - Gross profit for the year was RMB 3,324.95 million, down from RMB 4,275.32 million in the previous year[3]. - Operating profit for the year was RMB 1,807.90 million, a decrease from RMB 2,718.11 million year-on-year[3]. - The total comprehensive income for the year was RMB 1,122.18 million, compared to RMB 1,889.34 million in the previous year[3]. - The company reported a significant increase in other income to RMB 507.62 million from RMB 274.40 million in the previous year[3]. - The pre-tax profit for the year ended December 31, 2023, was RMB 681,748 thousand, down from RMB 2,203,483 thousand in 2022, indicating a decline of approximately 69%[23]. - The net profit for the year was RMB 989.5 million, a decrease of RMB 870.0 million or 46.8% compared to last year's net profit of RMB 1,859.5 million[112]. - The gross profit margin decreased to 7.2% from 9.9% year-on-year, while the net profit margin fell to 2.1% from 4.3%[94]. Dividends and Shareholder Returns - The board proposed a final dividend of RMB 1.20 per share, totaling approximately RMB 53,090,000[2]. - The board proposed a final dividend of approximately RMB 53,090,000 or HKD 58,510,000, translating to a dividend of RMB 1.20 per share (equivalent to HKD 1.32 per share) for the year[129]. - The final dividend distribution ratio is based on the company's operating performance, recent economic trends in China, and future development needs, with a minimum requirement of 30% of the distributable profits for 2023[129]. Assets and Liabilities - Non-current assets increased to RMB 36,702.43 million from RMB 32,713.77 million in the previous year[4]. - The company's total liabilities reached RMB 29,955,428,000 in 2023, up from RMB 25,047,079,000 in 2022, reflecting a rise of approximately 19.5%[5]. - The company's total equity rose to RMB 14,472,445,000 in 2023, compared to RMB 12,595,029,000 in 2022, representing an increase of approximately 14.9%[5]. - The company's current liabilities net value as of December 31, 2023, is RMB 12,821,609,000, an increase from RMB 11,658,227,000 in 2022, representing a growth of approximately 10%[7]. - Total assets minus current liabilities amounted to RMB 23,880,821,000 in 2023, compared to RMB 21,055,545,000 in 2022, indicating an increase of about 13.4%[7]. Cash Flow and Financing - Cash and cash equivalents at year-end were RMB 1,239.27 million, slightly up from RMB 1,200.67 million in the previous year[4]. - The net cash generated from operating activities for the year was approximately RMB 2,204.4 million, a decrease of about RMB 959.3 million compared to the previous year[115]. - The net cash used in investing activities decreased from approximately RMB 9,180.6 million last year to approximately RMB 1,712.6 million this year, primarily due to the acquisition of Shandong Wuhu Shunri for RMB 2,901.0 million last year[116]. - The net cash outflow from financing activities was RMB 455.2 million, compared to a net cash inflow of RMB 4,925.9 million last year, mainly due to an increase in repayments of bank and other loans[118]. - The company believes that the combination of cash flow from operating activities and bank loans will meet its working capital needs[114]. Segment Performance - The total revenue for the group reached RMB 48,046,561 thousand, with significant contributions from the coking and coking products manufacturing segment at RMB 19,869,591 thousand and the fine chemical products manufacturing segment at RMB 18,868,955 thousand[20]. - The group identified five reportable segments: coking and coking products manufacturing, fine chemical products manufacturing, operation management, trading, and property development, enhancing resource allocation and performance evaluation[18]. - The operating management segment reported a loss of RMB (172,518) thousand, highlighting challenges in this area[20]. - The revenue from the coking and coking products segment rose by RMB 1,708.6 million or 10.4% to RMB 18,077.0 million, primarily due to the inclusion of Xuyang Zhongran since June 2023, which contributed RMB 5,221.7 million in revenue[96]. - The fine chemical products segment's revenue increased by RMB 3,250.6 million or 21.1% to RMB 18,680.9 million, mainly driven by the commissioning of the second phase of the Cangzhou caprolactam project, which added RMB 2,778.4 million in sales[96]. Operational Developments - The company is expanding its production capacity in Indonesia, with a total annual coke production capacity of 13.4 million tons, of which 4.36 million tons will belong to the company[65]. - The group plans to increase the annual production capacity of coking and refined products as part of its five-year plan from 2021 to 2025, expanding its product line to over 60 types[66]. - The group completed the integration of the Hohhot production facility with an annual capacity of 3 million tons of coke in June 2023, and is constructing another coke production facility in Sulawesi with two out of eight coke ovens already operational[73]. - The group aims to become a clean and low-carbon hydrogen energy supplier, actively participating in hydrogen industrialization plans in Hebei and Inner Mongolia[75]. - The group is committed to digital transformation across the entire sales, transportation, manufacturing, supply, and research processes, aiming for a "green, concentrated, intelligent, and high-end" development[78]. Governance and Compliance - The audit committee has reviewed the audited consolidated financial statements for the year and discussed accounting principles and internal controls with the management[128]. - The company has adopted the standard code for directors' securities transactions and confirmed full compliance during the reporting period[126]. - The board consists of six executive directors and three independent non-executive directors, ensuring a strong level of independence[125]. - The chairman and CEO roles are held by the same individual to ensure consistent internal leadership and effective communication of strategies[125]. - The company is committed to reviewing its corporate governance practices to align with listing rules and protect shareholder interests[125].
中国旭阳集团(01907) - 2023 - 年度业绩