Financial Performance - The company's revenue for the year ended December 31, 2022, was RMB 2,801,167,000, an increase from RMB 2,422,121,000 in 2021, representing a growth of approximately 15.6%[26]. - The profit attributable to the owners of the company for the year ended December 31, 2022, was RMB 194,380,000, down from RMB 266,081,000 in 2021, indicating a decrease of about 27.0%[30]. - Total revenue for the year ended December 31, 2022, was approximately RMB 3,130.8 million, an increase of 8.7% from RMB 2,880.9 million in 2021[95]. - Net profit for the year decreased by approximately RMB 73.4 million or 26.7% to about RMB 202.1 million from approximately RMB 275.6 million for the year ended December 31, 2021[81]. - Gross profit for the year was RMB 329,614 thousand, compared to RMB 458,813 thousand in the previous year, indicating a decrease of about 28.14%[153]. Revenue Breakdown - The company's revenue increased by approximately RMB 249.8 million or 8.7% to about RMB 3,130.8 million compared to the year ended December 31, 2021, which was approximately RMB 2,880.9 million[81]. - Urea revenue increased by 15.2% to RMB 2,627.5 million, while automotive urea solution revenue decreased by 24.2% to RMB 198.7 million[95]. - Revenue from urea increased by approximately RMB 345.9 million or 15.2% to about RMB 2,627.5 million, despite a slight decrease in sales volume by about 2.2% due to COVID-19 impacts[87]. - Revenue from automotive urea solution decreased by approximately RMB 63.6 million or 24.2% to about RMB 198.7 million, primarily due to reduced demand amid COVID-19 outbreaks[88]. - Methanol revenue decreased by 5.1% to RMB 151.5 million, despite an average selling price increase of 2.6% to approximately RMB 1,860 per ton[97]. Expenses and Costs - The company's total tax expenses for the year ended December 31, 2022, were RMB 74,087,000, down from RMB 109,072,000 in 2021, representing a decrease of approximately 32.1%[20]. - The company's administrative expenses and financing costs decreased compared to the year ended December 31, 2021, mainly due to reduced provisions for other receivables and decreased interest on bank borrowings[81]. - Selling costs increased by 15.6% to approximately RMB 2,801.2 million, primarily due to rising raw material, labor, and electricity costs[99]. - The overall gross profit and gross profit margin decreased due to an increase in sales costs, primarily driven by rising raw material costs[84]. - The company reported employee benefit expenses of RMB 142,019,000 for the year ended December 31, 2022, up from RMB 121,491,000 in 2021, which is an increase of about 16.9%[26]. Assets and Liabilities - The company's total assets as of December 31, 2022, amounted to RMB 1,620,428 thousand, an increase from RMB 1,479,011 thousand in 2021, showing a growth of about 9.55%[149]. - Current liabilities decreased to RMB 212,096 thousand from RMB 322,596 thousand in 2021, a reduction of approximately 34.36%[149]. - Trade payables as of December 31, 2022, amounted to RMB 50,062 thousand, a decrease from RMB 54,380 thousand as of December 31, 2021[60]. - Other payables decreased to RMB 60,066 thousand from RMB 70,756 thousand year-on-year[61]. - The company had no interest-bearing bank borrowings as of December 31, 2022, resulting in a debt-to-asset ratio of 0%[114]. Dividends and Shareholder Returns - The company reported a final dividend of HKD 0.08 per share for the year ended December 31, 2022, totaling HKD 49,675,520, down from HKD 62,094,400 in 2021[35]. - The proposed final dividend is HKD 0.08 per ordinary share, totaling approximately HKD 49.7 million, down from HKD 62.1 million in the previous year[134]. Future Outlook and Strategy - The group anticipates steady growth in domestic fertilizer demand, supported by the gradual recovery of the global economy and the implementation of new infrastructure projects in China[121]. - The group plans to continue its growth strategy by increasing production capacity, enhancing product quality, and expanding its value chain to include urea-related products[123]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth[161]. - The company has maintained a focus on innovation and market expansion, actively developing new products such as automotive urea solution[91]. Compliance and Standards - The company has not adopted any new or revised international financial reporting standards that would have a significant impact on its financial statements[31]. - The company plans to adopt new or revised international financial reporting standards upon their effective date, which may affect its financial statements in the future[32]. - The company has adopted new or revised International Financial Reporting Standards (IFRS) effective from January 1, 2023, which may impact future financial reporting[38]. Miscellaneous - The company has not identified any significant adverse impact from COVID-19 on its financial performance as of December 31, 2022[40]. - The company’s subsidiaries in the Cayman Islands, Samoa, and the British Virgin Islands are not subject to income tax, contributing to tax efficiency[33]. - The company’s eligible small and micro enterprises can benefit from a reduced corporate income tax rate of 10% on 25% of their income if their taxable income is below RMB 1 million[34]. - The group has capital commitments of approximately RMB 20.6 million as of December 31, 2022, compared to RMB 18.2 million as of December 31, 2021[125]. - There were no significant acquisitions or disposals of subsidiaries or associates during the reporting period[128]. - The group has no significant contingent liabilities as of December 31, 2022[131].
东光化工(01702) - 2022 - 年度业绩