Financial Performance - For the fiscal year ended December 31, 2022, the group's revenue was approximately RMB 1,729.60 million, an increase of 1.85% compared to RMB 1,698.15 million in 2021[2] - The net profit attributable to equity shareholders for the fiscal year was approximately RMB 328.66 million, a decrease of 43.20% from RMB 578.61 million in 2021[2] - Basic earnings per share for 2022 was RMB 0.18, down from RMB 0.32 in 2021[2] - The gross profit for the fiscal year was RMB 910.14 million, compared to RMB 1,015.04 million in 2021, indicating a decline in profitability[3] - Operating profit for the year was RMB 497.56 million, down from RMB 739.98 million in the previous year[3] - Total comprehensive income for the year was RMB 360.46 million, significantly lower than RMB 646.58 million in 2021[5] - The total revenue for the year 2022 reached RMB 1,729,598 thousand, an increase from RMB 1,698,153 thousand in 2021, representing a growth of approximately 1.84%[12] - The pre-tax profit for the year ended December 31, 2022, was RMB 92,026,000, an increase from RMB 52,079,000 in 2021, reflecting a growth of 76.7%[16] - The pre-tax profit decreased by 41.16% to RMB 410.53 million compared to RMB 697.71 million in 2021[45] Revenue Breakdown - Revenue from industrial solid waste disposal services amounted to RMB 463,153 thousand in 2022, compared to RMB 456,179 thousand in 2021, showing a growth of about 1.69%[12] - Revenue from hazardous waste disposal services, specifically general hazardous waste, was RMB 1,057,841 thousand in 2022, slightly increasing from RMB 1,052,033 thousand in 2021, indicating a growth of approximately 0.55%[12] - The industrial hazardous waste disposal service generated revenue of RMB 1,241.85 million, a slight decrease of 0.01% year-on-year[46] - The general hazardous waste segment achieved revenue of RMB 1,057.84 million, reflecting a growth of 0.55% due to new projects launched in various locations[46] - The revenue from oil sludge disposal was RMB 124.28 million, a decrease of 5.84% year-on-year due to reduced intake from oil fields[47] - The revenue from fly ash disposal was RMB 59.73 million, an increase of 3.07% year-on-year primarily due to the commissioning of the Yiyang project[47] - The revenue from industrial solid waste disposal services was RMB 463.15 million, an increase of 1.53% year-on-year driven by faster growth in projects in various regions[48] Expenses and Costs - Employee costs rose to RMB 386,393,000 in 2022 from RMB 276,801,000 in 2021, marking an increase of 39.5%[17] - Service costs increased to RMB 819,458,000 in 2022, compared to RMB 683,118,000 in 2021, representing a growth of 19.9%[19] - The interest expense on loans and borrowings was RMB 129,305,000 in 2022, up from RMB 89,823,000 in 2021, which is an increase of 43.9%[16] - The depreciation of owned properties, plants, and equipment amounted to RMB 205,644,000 in 2022, compared to RMB 148,274,000 in 2021, reflecting a rise of 38.6%[19] - The tax expense for the year was RMB 50,068,000 in 2022, slightly down from RMB 51,136,000 in 2021, showing a decrease of 2.1%[20] - The group's administrative expenses were RMB 317.96 million, an increase of 39.71% year-on-year due to higher labor costs and listing expenses[52] Assets and Liabilities - Non-current assets, including property, plant, and equipment, increased to RMB 6,366.19 million from RMB 5,170.50 million in 2021[6] - Current liabilities decreased to RMB 1,319.50 million from RMB 1,703.50 million in the previous year, indicating improved liquidity[6] - The company's total assets, net of current liabilities, increased to RMB 6,557.49 million from RMB 5,515.55 million in 2021[6] - As of December 31, 2022, total assets were RMB 8,536.57 million, an increase of RMB 1,026.35 million from the previous year[55] - As of December 31, 2022, the group's non-current liabilities amounted to RMB 3,169.86 million, an increase of 30.68% compared to the previous year, primarily due to the addition of long-term loans during the reporting period[58] - The group's current liabilities decreased by 0.78% to RMB 1,979.08 million, mainly due to a reduction in income tax payable and trade payables[58] - The group's current ratio as of December 31, 2022, was 0.67, down from 0.85 at the end of the previous year, while the debt-to-equity ratio increased to 1.11 from 0.99[58] Cash Flow - The company's cash and cash equivalents at the end of 2022 were RMB 65,919,000, a decrease from RMB 68,839,000 in 2021, indicating a decline of about 4%[25] - The net cash generated from operating activities was RMB 542.99 million, a decrease of RMB 224.73 million compared to the previous year, primarily due to relaxed credit terms for customers during the pandemic[65] - The net cash used in investing activities was RMB 1,407.37 million, down RMB 774.70 million year-on-year, mainly due to reduced payments for the purchase of properties, plants, and equipment[66] - The net cash generated from financing activities was RMB 541.32 million, a decrease of RMB 830.36 million year-on-year, primarily due to loan repayments[67] - As of December 31, 2022, the group's bank loan balance was RMB 3,774.69 million, an increase of RMB 730.83 million from the previous year, mainly due to new 1-2 year bank loans[62] Strategic Initiatives - The company continues to focus on improving its solid waste and hazardous waste disposal solutions as its main operational strategy[13] - The company aims to enhance its market layout and increase market share by actively expanding projects and ensuring safe production[75] - The company is focusing on optimizing its labor management model and improving its compensation performance evaluation system[73] - The company will strengthen communication with the government and large waste-to-energy enterprises to ensure the successful implementation of key projects[76] - The company is committed to developing a diversified and professional training system to enhance professional skills and talent management[73] - The company emphasizes the integration of traditional disposal methods with cement kiln operations to improve market coverage[76] - The company is focusing on deepening the sludge disposal industry market, prioritizing key regions such as the Yangtze River Delta and Beijing-Tianjin-Hebei[77] - The company aims to enhance market share and customer resource acquisition, actively collaborating with large waste disposal enterprises[78] - The company is committed to improving operational quality and enhancing core competitiveness through market integration and resource consolidation[78] - The company emphasizes strict control over project construction timelines and quality, aiming to reduce construction costs and create model projects[79] Corporate Governance - The board of directors recommended not to declare a final dividend for the fiscal year ended December 31, 2022[2] - The annual general meeting of shareholders is scheduled for June 27, 2023[80] - The company confirms compliance with corporate governance codes since its listing date on March 30, 2022[82] - The audit committee has reviewed the company's annual performance for the year ending December 31, 2022, with no objections to the accounting practices used[85] - The performance announcement and annual report will be available on the company's and the stock exchange's websites[86]
海螺环保(00587) - 2022 - 年度业绩