Financial Performance - The group's total revenue for the year ended December 31, 2023, was RMB 1,491,153,988, an increase from RMB 1,481,644,241 in 2022, representing a growth of approximately 0.65%[3] - The gross profit for the group in 2023 was RMB 332,102,942, compared to RMB 341,850,613 in 2022, indicating a decrease of about 2.18%[3] - The company's revenue for the year ended December 31, 2023, is approximately RMB 1,491.15 million, a year-on-year increase of about 0.64% from RMB 1,481.64 million in 2022[47] - Revenue for the reporting period was approximately RMB 1,491.15 million, an increase of about 0.64% compared to RMB 1,481.64 million for the year ended December 31, 2022[124] - Gross profit for the reporting period was approximately RMB 332.10 million, a decrease of about 2.85% from RMB 341.85 million for the year ended December 31, 2022[124] - Net profit for the reporting period was approximately RMB 128.08 million, an increase of about 13.61% compared to RMB 112.74 million for the year ended December 31, 2022[124] - Basic and diluted earnings per share attributable to equity shareholders were approximately RMB 0.11, up from RMB 0.09 for the year ended December 31, 2022[124] Revenue Breakdown - The supply of industrial gases (pipeline and liquefied) generated revenue of RMB 1,203,621,320 in 2023, up from RMB 1,194,342,987 in 2022, reflecting a growth of approximately 0.65%[3] - The total sales of pipeline industrial gases in 2023 reached approximately 3,855 million standard cubic meters, generating revenue of about RMB 998.62 million, compared to RMB 927.74 million in 2022[49] - Revenue from the supply of industrial gases through pipelines increased by approximately 7.64% to about RMB 998.62 million, up from RMB 927.74 million in the previous year, primarily due to increased usage[200] - Revenue from the supply of liquefied industrial gases decreased to RMB 165,703,046 in 2023 from RMB 228,032,728 in 2022, a decline of about 27.3%[4] - Revenue from the supply of liquefied industrial gases decreased by approximately 27.33% to about RMB 165.70 million, down from RMB 228.03 million in the same period last year, mainly due to a decline in the prices of certain products[200] - Revenue from the supply of liquefied natural gas and gas transportation services remained stable at approximately RMB 305.36 million, compared to RMB 305.21 million in the previous year[200] - Technical support and management services generated revenue of approximately RMB 2.92 million, compared to none in 2022[200] - Other sales revenue decreased by approximately 10.21% to about RMB 18.55 million, down from RMB 20.66 million in the same period last year, primarily due to a reduction in sales from the compressed natural gas business[200] Expenses and Liabilities - Administrative expenses decreased by approximately 33.81% to about RMB 54.39 million in 2023, down from RMB 82.18 million in 2022, primarily due to the absence of legal and professional fees related to the resumption of company shares trading[34] - The expected credit loss for trade receivables in the reporting period was approximately RMB 15.36 million, an increase of about 88.86% from RMB 8.14 million in 2022[58] - The company recorded a net loss of approximately RMB 17.75 million in other losses for the reporting period, compared to a net gain of RMB 11.87 million in 2022[56] - The total current liabilities of the group as of December 31, 2023, were approximately RMB 6,682.4 million, a decrease of about 22.34% from RMB 8,604.9 million as of December 31, 2022[85] - The total liabilities decreased from RMB 584,316,014 in 2022 to RMB 371,046,210 in 2023, indicating a reduction of approximately 36.4%[177] Assets and Investments - As of December 31, 2023, the company's cash and bank balances totaled approximately RMB 202.62 million, down from RMB 360.74 million on December 31, 2022[60] - The total current assets of the group amounted to approximately RMB 8,528.6 million, a decrease of about 13.92% compared to RMB 9,907.9 million as of December 31, 2022[85] - The company acquired property, plant, and equipment amounting to RMB 116,727,646 in 2023, down from RMB 151,402,718 in 2022[181] - The company has not recorded any sales of property, plant, and equipment in 2023, consistent with 2022[181] Corporate Governance and Compliance - The company has adopted the principles and provisions of the Corporate Governance Code as a benchmark for its corporate governance practices and has complied with all applicable provisions during the reporting period[97] - An independent investigation was completed in March 2022, focusing on the involvement of certain executives in business activities from January 1, 2021, to April 30, 2021, with findings indicating potential governance issues[99] - The company provided short-term loans totaling RMB 118,000,000 to three borrowers between November 30, 2020, and December 1, 2020, without prior board approval, which is a violation of governance protocols[102] - The company’s financial control system requires board approval for transactions exceeding RMB 1,000,000 that are not part of pre-approved budget items, which was not adhered to in the recent transactions[106] - The company will continue to review and monitor its corporate governance practices to maintain high standards[97] Future Outlook - The group expects stable business growth in the future due to increased demand for industrial gas products as customer production capacity expands[28] - The group is actively developing specialty gas products to enhance its future growth prospects in the electronic specialty gas market[26] - The construction of a 60,000Nm3/hr oxygen production facility is expected to be operational by the end of 2024[29] - The company anticipates a GDP growth of approximately 5.2% in China for 2023, despite challenges in the steel industry due to high raw material prices and declining steel prices[197] - The company aims to leverage opportunities arising from the development of gas supply models in the industrial gas sector[196]
CGII HLDGS(01940) - 2023 - 年度业绩