新奥能源(02688) - 2023 - 中期业绩

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 54,111 million, a decrease of 7.2% compared to RMB 58,332 million in 2022[1] - Profit attributable to owners of the company was RMB 3,333 million, an increase of 7.3% from RMB 3,105 million in the previous year[3] - Core profit for the period was RMB 3,914 million, down 5.0% from RMB 4,119 million in 2022[3] - Basic earnings per share increased to RMB 2.95, up 7.3% from RMB 2.75 in the previous year[3] - Total comprehensive income for the six months ended June 30, 2023, was RMB 3,687 million, compared to RMB 3,865 million for the same period in 2022, representing a decrease of approximately 4.6%[21] - Net profit attributable to the owners of the company for the period was RMB 3,333 million, up from RMB 3,105 million in the previous year, indicating an increase of about 7.3%[21] - Basic and diluted earnings per share for the period were both RMB 2.95, compared to RMB 2.75 for the same period last year, reflecting a growth of approximately 7.3%[21] Sales and User Growth - Natural gas retail sales volume was 12,162 million cubic meters, a decrease of 6.9% from 13,065 million cubic meters in 2022[3] - Comprehensive energy sales volume surged to 15,664 million kilowatt-hours, representing a 45.0% increase from 10,801 million kilowatt-hours in the previous year[3] - The number of new residential gas users added during the period was 998, an increase of 1.9% from 979 in 2022[3] - The cumulative number of residential users reached 28,919 thousand, up 7.9% from 26,814 thousand in the previous year[3] - In the first half of 2023, the company's overall retail gas sales volume decreased by 6.9% year-on-year to 12.162 billion cubic meters, with retail gas business revenue slightly down by 3.6% to RMB 29.217 billion[6] Revenue and Profit Margins - The company's total revenue for the period was RMB 54.111 billion, a decrease of 7.2% year-on-year, while overall gross profit increased by 3.8% to RMB 7.157 billion, resulting in a gross margin increase of 1.4 percentage points to 13.2%[10] - The company's comprehensive energy sales volume increased by 45.0% year-on-year to 15.664 billion kWh, with comprehensive energy business revenue and gross profit growing by 30.3% and 30.8% to RMB 6.988 billion and RMB 0.913 billion, respectively[7] - The company completed the installation of 998,000 new household users in the first half of 2023, with installation revenue and gross profit rising by 2.6% and 13.0% to RMB 2.862 billion and RMB 1.526 billion, respectively[6] Cash Flow and Debt Management - As of June 30, 2023, the company's cash and cash equivalents amounted to RMB 10.938 billion, an increase of RMB 2.882 billion from the end of 2022[11] - The company's net debt ratio was 23.5%, a decrease of 2.3 percentage points from the end of 2022[11] - The company generated operating cash inflow of RMB 4.003 billion and positive free cash flow of RMB 1.412 billion during the first half of 2023[10] - The total borrowings amounted to RMB 21.929 billion, an increase of RMB 2.137 billion from the end of last year, primarily due to project financing and the appreciation of the US dollar[13] - The net debt-to-equity ratio decreased by 2.3 percentage points to 23.5% as of June 30, 2023[13] Environmental and Safety Initiatives - The company managed to reduce energy consumption by over 1.27 million tons of standard coal and cut CO2 emissions by 4.92 million tons through its low-carbon solutions[7] - The company has completed 122 provincial and above inspections as part of its safety measures[4] - The company is actively developing new industry standards and enhancing its brand influence in safety management[5] Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code as of June 30, 2023[43] - The company has adopted new accounting standards effective January 1, 2023, which may impact future financial reporting and tax liabilities[27] Future Plans and Strategic Initiatives - The company signed 21 new low-carbon park projects, 956 low-carbon factory projects, and 73 low-carbon building projects, with a total energy scale exceeding 14.6 billion kWh/year, laying a foundation for future growth[7] - The group plans to release a TCFD framework report in October 2023 to enhance its climate-related financial disclosures[17] - The group has launched a comprehensive ESG smart ecosystem platform to improve the quality of ESG information disclosure[17] - The company aims to strengthen its natural gas business by expanding customer engagement and enhancing existing customer gas usage[19] Awards and Recognition - The company received multiple accolades in the "2023 All Asia (excluding Japan) Best Corporate Management Team" awards, highlighting its strong management and investor relations[18]