Financial Performance - Revenue for the year ended December 31, 2022, was RMB 14,279 million, an increase from RMB 13,398 million in 2021, representing a growth of approximately 6.6%[2] - Gross profit for the same period was RMB 2,537 million, down from RMB 2,936 million in 2021, indicating a decrease of about 13.6%[3] - Net profit attributable to the company's owners was RMB 1,643 million, compared to RMB 1,498 million in 2021, reflecting an increase of approximately 9.7%[3] - Basic earnings per share for the year was RMB 0.36, up from RMB 0.32 in the previous year, marking a growth of 12.5%[3] - The proposed final dividend is RMB 0.178 per share, an increase from RMB 0.178 in 2021[2] - The company reported a pre-tax profit of RMB 2,270 million, down from RMB 2,642 million in 2021, representing a decrease of about 14.1%[3] - The pre-tax profit for the entire group was RMB 2,270,769 thousand for 2022, compared to RMB 2,641,606 thousand in 2021, indicating a decrease of about 14.05%[13] - The income tax expense for 2022 was RMB 472,037, significantly lower than RMB 1,000,171 in 2021, resulting in an effective tax rate of 21%[26] - The net profit attributable to shareholders for 2022 was RMB 1,642,578, an increase of 9.68% from RMB 1,497,598 in 2021[27] - The company reported a decrease in other income to RMB 76,656 in 2022 from RMB 109,982 in 2021, a decline of 30.24%[19] Assets and Equity - Total assets as of December 31, 2022, amounted to RMB 23,497 million, up from RMB 21,432 million in 2021, representing an increase of approximately 9.6%[5] - Total equity attributable to the company's owners was RMB 16,747 million, compared to RMB 15,827 million in 2021, indicating a growth of about 5.8%[5] - Current assets net amount to RMB 11,382 million, an increase from RMB 10,020 million in 2021, reflecting a growth of approximately 13.6%[6] - The group's total assets as of December 31, 2022, amounted to RMB 23,497,659 thousand, while total liabilities were RMB 5,721,069 thousand[13] - The group's receivables from trade amounted to RMB 284,584 thousand in 2022, a substantial increase from RMB 35,409 thousand in 2021, indicating improved credit management[31] - The group reported no impairment losses on trade receivables for both 2022 and 2021, reflecting strong collection practices[32] Segment Performance - The urea segment generated revenue of RMB 4,968,600 thousand with a pre-tax profit of RMB 841,482 thousand[13] - The phosphate and compound fertilizer segment reported revenue of RMB 3,511,267 thousand and a pre-tax profit of RMB 1,103,042 thousand[13] - The methanol segment achieved revenue of RMB 3,267,883 thousand with a pre-tax profit of RMB 123,100 thousand[13] - Urea revenue reached RMB 4,968.6 million, up RMB 615.7 million or 14.1% from RMB 4,352.9 million in 2021, primarily due to a price increase of RMB 347.4 per ton[55] - Phosphate and compound fertilizer revenue increased to RMB 3,267.9 million, a rise of RMB 453 million or 16.1% from RMB 2,814.9 million in 2021, driven by a price increase of RMB 642.4 per ton[55] - Methanol revenue was RMB 3,511.3 million, up RMB 298.2 million or 9.3% from RMB 3,213.1 million in 2021, attributed to an increase in sales volume by 139,693 tons[55] Costs and Expenses - The cost of goods sold for 2022 was RMB 11,421,107, up from RMB 10,085,796 in 2021, reflecting a 13.27% increase[20] - The company's sales cost increased to RMB 11,742.4 million, up RMB 1,280.8 million or 12.2% from RMB 10,461.6 million in 2021[56] - Administrative expenses increased to RMB 5,515 million, up RMB 92 million or 1.7% from RMB 5,423 million in 2021, primarily due to a rise in labor costs and depreciation[62] - Other expenses significantly decreased to RMB 474 million, down RMB 3,115 million or 86.8% from RMB 3,589 million in 2021, mainly due to a reduction in personnel placement costs[63] Investments and Capital Expenditures - Capital expenditures for the year totaled RMB 1,211,889 thousand, reflecting investments in property, plant, and equipment[13] - Capital expenditures totaled RMB 1,825 million, with significant investments in refining and chemical projects amounting to RMB 1,574 million[71] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[7] - The company plans to continue exploring market expansion and new product development strategies in the upcoming fiscal year[1] - The industry outlook for 2023 anticipates recovery in exports and industrial demand, with strong support for the urea market[81] - Key focus areas for 2023 include enhancing HSE management, increasing direct sales, and advancing digital capabilities[82] Shareholder Information - Proposed final dividend for 2022 is RMB 0.178 per ordinary share, up from RMB 0.155 per share in 2021, totaling RMB 820,580 thousand compared to RMB 714,550 thousand in 2021[34] - The board proposed a final dividend of RMB 0.178 per share for the year ended December 31, 2022, subject to shareholder approval at the annual general meeting on May 25, 2023[87] - The final dividend is expected to be paid to shareholders around June 30, 2023[87] - The company will withhold a corporate income tax of 10% on dividends paid to non-resident corporate shareholders[88] Compliance and Governance - The company has adhered to corporate governance codes and has no significant breaches reported during the period[84] - The company has no significant contingent liabilities or major litigation during the reporting period[79]
中海石油化学(03983) - 2022 - 年度业绩