2024-03-19 16:00Financial Performance - The company's net revenue for 2023 reached RMB 140,999,428 thousand, representing a 6.80% increase compared to RMB 132,021,554 thousand in 2022[11]. - The net profit attributable to shareholders for 2023 was RMB 10,430,138 thousand, a decrease of 33.40% from RMB 15,660,750 thousand in 2022[12]. - The total assets of the company as of December 31, 2023, amounted to RMB 246,189,200 thousand, showing a slight increase of 0.91% from RMB 243,976,422 thousand in 2022[12]. - The basic earnings per share for 2023 was RMB 1.97, down 33.39% from RMB 2.96 in 2022[12]. - The net cash flow from operating activities for 2023 was RMB 20,105,564 thousand, an increase of 108.36% compared to RMB 9,649,268 thousand in 2022[12]. - The company's total liabilities for 2023 were RMB 48,278,835 thousand, slightly up from RMB 48,067,537 thousand in 2022[11]. - The company reported a comprehensive diluted return on equity of 5.63% for 2023, down 2.90 percentage points from 8.53% in 2022[12]. - The quarterly revenue for Q4 2023 was RMB 41,956,047 thousand, with a net profit of RMB 1,757,973 thousand attributable to shareholders[14]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.96 per share (including tax) for the fiscal year 2023[2]. - The company’s 2023 annual profit distribution plan was approved at the ninth meeting of the board of directors[2]. - The proposed final dividend for the fiscal year 2023 is 0.96 CNY per share, with a total payout of approximately 506.6 million CNY, representing 48.57% of the net profit attributable to ordinary shareholders[68]. - The company distributed a cash dividend of 1.48 CNY per share for the fiscal year 2022, totaling approximately 7.84 billion CNY[67]. - The company emphasizes a stable and continuous profit distribution policy, ensuring at least 10% of the distributable profit is allocated for cash dividends annually[67]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG, ensuring the accuracy and completeness of the financial report[2]. - The company’s board of directors has confirmed the authenticity, accuracy, and completeness of the report[2]. - The company has not violated any decision-making procedures regarding external guarantees[2]. - The company has maintained complete independence in operations, assets, and financial matters from its controlling shareholders[82]. - The company has complied with the Corporate Governance Code and has established a set of conduct standards for directors' securities transactions[114]. Risk Management - The company has disclosed potential risks for 2024, including policy risks, environmental regulatory risks, and energy price volatility risks[2]. - The company emphasizes the importance of investor awareness regarding the forward-looking statements and associated risks[2]. - The company faces risks related to dependence on the construction industry, potential increases in production costs due to environmental regulations, and high coal prices impacting profit margins[47][48]. - The company has a risk management system in place to identify and manage significant risks, ensuring operational development risks are controllable[134]. Capital Expenditure and Investment - The company has outlined its capital expenditure and new capacity plans for 2024, although these do not constitute a substantive commitment to investors[2]. - The company plans to invest 15.2 billion yuan in capital expenditures in 2024, primarily for project construction, energy-saving and environmental protection upgrades, and acquisition projects[46]. - The company has invested in new technologies such as smart quality control systems and digital mining systems to enhance operational efficiency[20]. - The company has invested a total of 1.55 billion yuan in various environmental protection technological transformations during the reporting period[157]. - The company completed SCR denitrification upgrades for 83 clinker production lines, achieving ultra-low nitrogen oxide emissions[157]. Shareholder Structure - The company reported no significant changes in shareholder structure or share capital during the reporting period[2]. - The total number of shares remains unchanged at 5,299,302,579, with 75.48% being A shares and 24.52% being H shares[195]. - The largest shareholder, Conch Group, holds 1,928,870,014 shares, accounting for 36.40% of total shares[199]. - As of December 31, 2023, the total number of registered shareholders was 307,069, with 116 being H share holders[198]. Environmental Responsibility - The company is committed to environmental responsibility, with no reported exceedances in pollutant emissions across its subsidiaries[141]. - The company has implemented measures to ensure compliance with environmental standards, as indicated by the absence of exceedance in emissions[145]. - The company reduced carbon dioxide emissions by 20.27 million tons in 2023, a year-on-year decrease of 9.9%, totaling 183.78 million tons[158]. - The company has actively explored alternative fuels and new energy projects, including photovoltaic and wind power initiatives[158]. - The company has implemented energy efficiency upgrades for 54 clinker production lines, utilizing advanced energy-saving technologies[158]. Management and Governance - The company has a strong management team with extensive experience in finance, law, and engineering, enhancing its operational capabilities[94][95][96]. - The board includes independent non-executive directors with diverse backgrounds in finance and law, contributing to effective governance[92][93]. - The company has a total of 11 directors, supervisors, and senior management personnel, with various roles and responsibilities[84]. - The company has maintained liability insurance for directors and senior management to provide adequate protection against legal actions[100]. - The company has signed service contracts with all directors, supervisors, and senior management, ensuring compliance with relevant regulations[100]. Employee Information - The total number of employees as of December 31, 2023, is 50,769, with 32,140 in production, 2,118 in sales, and 11,005 in technical roles[108]. - The percentage of male employees is approximately 84%, while female employees account for about 16%[108]. - The company has implemented a performance-based salary system for middle and senior management, linking their compensation to key performance indicators[108]. - The total annual salary expenditure for its directors and senior management amounts to 13,321,037 RMB[105]. Transactions and Contracts - The actual transaction amount under the cement additive procurement contract was CNY 823 million during the reporting period[170]. - The company paid CNY 40.87 million in trademark usage fees to its controlling shareholder, Conch Group, during the reporting period[168]. - The total transaction amount for the procurement of combustion accelerators with Conch Additives Company is capped at 595 million yuan, with an actual transaction amount of 57.85 million yuan during the reporting period[171]. - The total contract price for the "Intelligent and Information System Operation and Maintenance Contract" was CNY 16.54 million during the reporting period[177]. Community Engagement - The company donated approximately CNY 150,000 worth of cement to improve rural infrastructure during the reporting period[162]. - The company contributed CNY 500,000 to the "Anhui Future Health Children's Development Foundation" for assisting sick children and promoting health knowledge[162]. - The group made a charitable donation of 500,000 RMB to the "Anhui Future Health Children's Development Foundation" during the reporting period[71].