SHIMAO ENERGY(SH:605028)2024-03-19 16:00Financial Performance - The company's operating revenue for 2023 was ¥361,491,133.59, a decrease of 18.28% compared to ¥442,362,623.25 in 2022[25] - The net profit attributable to shareholders for 2023 was ¥188,171,723.42, reflecting a decline of 8.70% from ¥206,093,694.39 in the previous year[25] - The net profit after deducting non-recurring gains and losses was ¥179,146,938.06, down 9.50% from ¥197,947,454.58 in 2022[25] - Basic earnings per share decreased by 8.53% to CNY 1.18 in 2023 compared to CNY 1.29 in 2022[27] - Diluted earnings per share also decreased by 8.53% to CNY 1.18 in 2023 from CNY 1.29 in 2022[27] - The weighted average return on equity fell by 3.43 percentage points to 15.41% in 2023 from 18.84% in 2022[27] - The company achieved operating revenue of CNY 361.49 million in 2023, a decrease of 18.28% year-on-year, with a gross profit margin of 63.81%, an increase of 0.15%[35] - The net profit attributable to the parent company was CNY 188.17 million, down 8.70% year-on-year, with basic earnings per share of CNY 1.18, a decrease of 8.53%[35] Cash Flow and Assets - The net cash flow from operating activities increased by 15.19% to ¥272,003,581.34, compared to ¥236,126,431.70 in 2022[25] - As of the end of 2023, the total assets reached ¥1,514,985,304.25, an increase of 13.95% from ¥1,329,560,000.21 at the end of 2022[25] - The net assets attributable to shareholders increased by 12.09% to ¥1,299,554,403.43, compared to ¥1,159,382,680.01 at the end of 2022[25] - The company maintained a positive cash flow from operating activities of ¥272,003,581.34, an increase of 15.19% year-on-year[68] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥6.00 per 10 shares, totaling ¥96,000,000.00, which is subject to approval at the 2023 annual general meeting[7] - The total distributable profit available to shareholders at the end of the year is ¥517,351,616.48, after accounting for the proposed dividend and previous undistributed profits[156] Operational Developments - The company completed the construction of the 5 furnace project, which has been put into operation, and the 2 garbage pit project is in progress, aiming for early operation[44] - The company is actively expanding its raw material channels and enhancing cost efficiency in response to domestic economic recovery[34] - The company aims to provide stable and reliable heat sources to surrounding enterprises while promoting waste treatment services[34] - The company is focusing on the transition of waste incineration power generation to cogeneration, improving energy utilization efficiency and overall benefits[52] Environmental and Safety Management - No major safety or environmental incidents occurred during the year, indicating effective operational management[34] - The company has implemented comprehensive pollution control measures, including SNCR denitrification and bag dust collection for coal-fired boilers, and advanced treatment processes for leachate[167] - All pollution control facilities are operating normally, ensuring compliance with environmental regulations[168] - The company has established an emergency response plan for environmental incidents, which was approved by experts and filed with the local environmental authority[171] Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with legal regulations and maintaining transparency in shareholder meetings[123] - The board of directors consists of five members, including two independent directors, and has established specialized committees to support decision-making processes[124] - The company has implemented measures to maintain the independence of its operations and has not engaged in significant related-party transactions[127] - The company has established various internal management systems to regulate information disclosure and insider knowledge[126] Strategic Initiatives - The company is focused on transitioning to a new energy system, emphasizing the development of renewable energy and high-quality growth in the energy sector[101] - The national strategy encourages the development of circular economy practices, promoting combined heat and power systems and energy efficiency improvements[102] - The company aims to enhance energy utilization efficiency and comprehensive benefits through the transformation of waste incineration power generation into combined heat and power systems[103] Employee Relations and Development - The company adjusted its compensation system and performance evaluation methods to enhance employee motivation and align with industry standards[42] - The employee training program emphasizes internal training and skill development, creating pathways for both management and technical career advancement[154] - The company has implemented a salary increase policy that favors frontline employees, ensuring their welfare remains stable and continues to improve[153] Future Outlook - The company is actively pursuing the development of a new clean energy system to support the dual carbon goals, with a focus on optimizing energy supply and industrial layout[105] - The company plans to disclose its social responsibility report on March 20, 2024, on the Shanghai Stock Exchange website[173]