Financial Performance - Revenue for the year ended December 31, 2022, was RMB 6,155.8 million, an increase of 10.3% from RMB 5,580.7 million in 2021[2] - Gross profit for the same period was RMB 4,023.5 million, reflecting an 11.6% increase from RMB 3,604.2 million in the previous year[2] - Net profit attributable to shareholders was RMB 2,664.5 million, up 7.9% from RMB 2,468.6 million in 2021[2] - Basic and diluted earnings per share increased to RMB 31.61 from RMB 29.28, representing an 8.0% growth[2] - The company’s total comprehensive income for the year was RMB 2,643.98 million, compared to RMB 2,476.57 million in 2021[5] - The pre-tax profit for 2022 was RMB 3,634,027,000, compared to RMB 3,422,296,000 in 2021, marking an increase of approximately 6.2%[20] - The company's net profit for 2022 was approximately RMB 2.656 billion, representing a year-on-year growth of 7.6%[43] - The company's gross profit margin stood at approximately 65.4%, maintaining a level above the industry average[43] Dividends - The company proposed a final dividend of HKD 7.0 cents per share, compared to HKD 6.5 cents in the previous year[2] - The proposed final dividend for 2022 is set at HKD 0.07 per share, an increase from HKD 0.065 per share in 2021, totaling RMB 527,119,000[21] Assets and Liabilities - Non-current assets totaled RMB 7,880.4 million, significantly up from RMB 2,823.2 million in 2021[6] - Current liabilities increased to RMB 1,815.4 million from RMB 1,391.3 million in the previous year[6] - Total assets less current liabilities amounted to RMB 7,677.2 million, compared to RMB 4,650.9 million in 2021[6] - The group's total liabilities as of December 31, 2022, were RMB 3,175,851,000, reflecting a stable financial position[14] - The total liabilities as of December 31, 2022, were RMB 518,906,000, an increase from RMB 329,560,000 in 2021, indicating a significant rise in financial obligations[30] Cash Flow and Financing - The net cash used in investing activities for the year ended December 31, 2022, was RMB 4,275.5 million, primarily due to purchases of property, plant, and equipment[57] - The net cash used in financing activities for the year ended December 31, 2022, was RMB 649.9 million, primarily due to a net increase in bank loans of RMB 594.6 million and dividend payments of RMB 899.2 million[58] - The group's bank loans totaled RMB 850,000,000 as of December 31, 2022, with RMB 300,000,000 due within one year[33] - Financing costs rose significantly to RMB 49,893,000 in 2022 from RMB 11,959,000 in 2021, reflecting a substantial increase in interest expenses[18] Acquisitions and Investments - The company made prepayments totaling RMB 1,080,256,000 for the acquisition of Guizhou Power Energy Co., Ltd. and RMB 696,000,000 for the acquisition of Real Estate Group Limited, with total prepayments for related party transactions amounting to RMB 2,540,892,000 in 2022, up from RMB 735,700,000 in 2021[23] - The acquisition of Ningxia Power on June 3, 2022, was completed for a total consideration of RMB 1,642,032,000, resulting in the group holding 100% equity[36] - The acquisition of Wuhai Fulian was completed in 2022 for a total consideration of RMB 185,700,000, with identifiable assets primarily being a property under construction[38] - The company has also agreed to acquire 73% of Xingyao Enterprise Limited for a total consideration of approximately USD 91,413,179 (equivalent to RMB 636,656,000), with completion expected in 2023[25] Operational Highlights - The average selling price of the company's low-sulfur environmental protection thermal coal was approximately RMB 1,002.6 per ton, up 23.3% year-on-year[43] - The average selling price of the company's 5,000 kcal coal products increased by about 23.3% year-on-year for the year ended December 31, 2022[47] - The coal production for the first quarter of 2023 is expected to decline temporarily due to adverse underground mining conditions, but is projected to recover by April 2023[40] - The company successfully expanded its operations in Ningxia by acquiring 49% and 51% stakes in two coal mines, with production expected to commence in the first half of 2025[44] Corporate Governance - The company believes that good corporate governance can create value for shareholders and has adhered to the corporate governance code during the year ended December 31, 2022[75] - The audit committee consists of two independent non-executive directors and one non-executive director, and they reviewed the annual performance and audited financial statements for the year ended December 31, 2022[76] - All directors confirmed compliance with the standards set forth in the company's code of conduct for securities transactions for the year ended December 31, 2022[74] Market Outlook - The global economic growth is projected to slow down from 4.1% in 2022 to 1.7% in 2023, impacting market conditions[45] - The company anticipates a gradual recovery in the Chinese economy in 2023, supported by government strategies to expand domestic demand[45] Compliance and Reporting - The independent auditor's report confirmed that the consolidated financial statements reflect the group's financial position as of December 31, 2022, in accordance with the Hong Kong Financial Reporting Standards[78] - The annual performance announcement and the 2022 annual report will be published on the Stock Exchange and the company's website[81]
力量发展(01277) - 2022 - 年度业绩