Financial Performance - The company's revenue for the year ended December 31, 2022, was RMB 128,533,000, a decrease of 76% compared to RMB 533,693,000 in 2021[2] - The total comprehensive income attributable to equity holders of the parent for the year was RMB 111,913,000, down from RMB 618,133,000 in the previous year[2] - The group recognized revenue of RMB 102,395,000 during the reporting period, compared to RMB 132,390,000 in 2021, indicating a decline of approximately 22.7%[15] - The company's revenue for 2022 was RMB 1,835,780,000, a decrease of 26.7% compared to RMB 2,506,661,000 in 2021[40] - The company's net profit attributable to the company's owners for the year was approximately RMB 1,628,662,000, an increase of about 218.88% compared to RMB 510,746,000 in 2021, primarily due to gains from the sale of the entire business in New Zealand[163] - The net profit from continuing operations attributable to the company's owners was approximately RMB 128,533,000, a decrease of about 75.92% from approximately RMB 533,693,000 in 2021, mainly due to reduced construction revenue and asset impairment[164] Discontinued Operations - The company completed the sale of its New Zealand waste management and energy conversion business on September 30, 2022, classifying it as discontinued operations[24] - The company reported a profit from discontinued operations before tax of RMB 287,181,000 for 2022, compared to a loss of RMB (40,301,000) in 2021[40] - The net cash inflow from the sale of discontinued operations was RMB 4,469,792,000[42] - Basic and diluted earnings per share from discontinued operations for 2022 were RMB 10.49, compared to a loss of RMB (0.16) in 2021[43] Assets and Liabilities - The total assets of the company reached RMB 20.138 billion, with operating revenue of RMB 4.589 billion and net profit attributable to the parent company of RMB 1.629 billion[101] - The total bank loans and overdrafts amounted to RMB 9,107,493,000, a decrease from RMB 11,730,624,000 in the previous year, representing a reduction of approximately 22.4%[64] - The company's total liabilities decreased significantly, reflecting a strategic focus on reducing debt levels[64] - The company's asset-liability ratio decreased to 66.81% from 70.52% in 2021, primarily due to the sale of its New Zealand business[152] - The current ratio improved from approximately 0.87 to 1.33, mainly due to the repayment of bank loans due during the year[152] Cash Flow and Financial Management - The company reported a net cash flow from discontinued operations for the nine months ended September 30, 2022, and for the year ended December 31, 2022[27] - The company’s cash flow management strategies have been adjusted to enhance liquidity and operational efficiency in response to market conditions[74] - Cash and bank balances as of December 31, 2022, were approximately RMB 1,550,032,000, a decrease of about RMB 170,459,000 from the previous year[152] Operational Highlights - The group operated 45 subsidiaries in China during the year, an increase from 39 in 2021, with 20 subsidiaries exempt from income tax[22] - The company has established multiple service operating rights arrangements with the Chinese grantors for waste treatment and energy conversion plants, ensuring specific service capability levels[52] - The total waste processed amounted to 6.6942 million tons, with hazardous waste processing at 53,100 tons and electricity provided at 1.945 billion kWh[142] - The average daily new waste input across 17 incineration projects exceeded 2,000 tons per day, with a year-on-year increase of 10.36% in electricity generated from waste[1] Strategic Focus and Future Outlook - The company actively integrates into national strategies and focuses on environmental protection, aiming for structural profit transformation and enhanced operational profit capabilities[129] - The company is committed to achieving carbon peak and carbon neutrality goals, aligning with national policies on green low-carbon development[128] - The company aims for carbon neutrality by 2050 and plans to reduce carbon emissions by 2030[141] - The company is focusing on deepening its business in China and collaborating with various industry sectors to promote ecological and economic prosperity[131] Corporate Governance - The company maintained a high level of corporate governance standards, adhering to all provisions of the corporate governance code as per the listing rules[188] - The company has committed to maintaining high standards of corporate governance as a key to its success[188] Employee and Training Initiatives - The group employed approximately 3,674 employees, primarily located in mainland China and Hong Kong, with a performance-linked compensation policy[157] - The company has implemented a talent strategy and conducted over 15 professional training sessions, offering more than 240 courses to enhance employee skills[114]
首创环境(03989) - 2022 - 年度业绩