Financial Performance - The company's revenue for the year reached RMB 3,466.0 million, an increase of 74.29% compared to the previous year[3]. - The profit attributable to the company's owners for the year was RMB 69.3 million, a decrease of 36.13% from the previous year[3]. - The total natural gas sales volume for the year was 701 million cubic meters, representing a growth of 22.13% year-on-year[3]. - The gross profit for the year was RMB 165.8 million, down from RMB 237.7 million in the previous year[5]. - The total comprehensive income for the year was RMB 76.3 million, compared to RMB 112.4 million in the previous year[5]. - The pre-tax profit for the year was RMB 102.4 million, down from RMB 149.2 million in the previous year[5]. - The basic and diluted earnings per share for the year were RMB 0.50, compared to RMB 0.79 in the previous year[8]. - The group's revenue from continuing operations was approximately RMB 311,487,000 in 2022, a slight decrease from RMB 313,097,000 in 2021[35]. - The group reported a pre-tax profit of RMB 69,344,000 for 2022, down from RMB 108,486,000 in 2021[50]. - The group’s revenue from construction services was RMB 28,322,000 in 2022, compared to RMB 48,317,000 in 2021[40]. - The group reported a total of RMB 31,160 thousand in other income, a significant increase from RMB 4,310 thousand in the previous year[70]. - The group's net profit attributable to equity holders for the year was RMB 69.3 million, a decrease of 36.13% from RMB 108.5 million last year[127]. Dividends and Shareholder Returns - The board recommended a final dividend of RMB 0.20 per share (tax included) for the year ended December 31, 2022[3]. - The proposed final dividend for the year 2022 is RMB 0.20 per share, totaling RMB 27,568,900, subject to shareholder approval[165]. - The board believes that it is not appropriate to adopt a formal dividend policy at this stage due to the company's ongoing development[172]. Assets and Liabilities - The company's total equity as of December 31, 2022, was RMB 877.5 million, an increase from RMB 815.9 million in the previous year[10]. - Non-current assets increased to RMB 1,444,837 thousand in 2022 from RMB 1,374,294 thousand in 2021, representing a growth of 5.1%[22]. - Current liabilities increased to RMB 525,536 thousand in 2022, compared to RMB 435,127 thousand in 2021, reflecting a rise of 20.8%[23]. - Total liabilities decreased to RMB 1,199,318 thousand in 2022 from RMB 1,184,842 thousand in 2021, indicating a slight reduction of 1.2%[23]. - The company's equity attributable to owners increased to RMB 877,509 thousand in 2022, up from RMB 815,879 thousand in 2021, a growth of 7.5%[23]. - The company’s total non-current liabilities decreased to RMB 673,782 thousand in 2022 from RMB 712,715 thousand in 2021, a reduction of 5.5%[23]. - The company's current ratio as of December 31, 2022, was 1.2, down from 1.35 in the previous year, while the debt-to-asset ratio was 57.75% compared to 58.45% in 2021[152]. Cash Flow and Financing - The company incurred financing costs of RMB 10.8 million, compared to RMB 9.0 million in the previous year[5]. - The interest expense on bank loans for 2022 was RMB 13,208 thousand, up from RMB 6,648 thousand in 2021, highlighting rising financing costs[95]. - The group utilized bank loans totaling RMB 223.8 million, with an unused bank credit line of RMB 747.0 million as of December 31, 2022[152]. Trade Receivables and Credit Risk - Trade receivables rose significantly to RMB 207,459 thousand in 2022, up from RMB 144,942 thousand in 2021, marking an increase of 43.2%[22]. - The expected credit loss rates for overdue receivables are 1.80% for less than 6 months, 8.36% for 6 to 12 months, 23.71% for 1 year, and 55.97% for over 1 year[80]. - The expected credit loss for bank acceptance notes is close to zero, indicating a strong credit quality of the issuing banks[81]. - The group maintains strict control over overdue balances, with senior management regularly reviewing and actively managing credit risks[77]. - The impairment loss on trade receivables for 2022 was RMB 5,116 thousand, compared to RMB 2,129 thousand in 2021, reflecting increased credit risk[95]. Market and Operational Insights - The group is focused on expanding its market presence in line with Zhejiang Province's energy development plan, which aims for a natural gas consumption of 31.5 billion cubic meters by 2025[90]. - The total gas sales volume for 2022 reached 701 million cubic meters, an increase of 22.13% compared to 2021, primarily driven by the rapid growth of liquefied natural gas trading after the operation of the Dushan Port project, which achieved a sales volume of 193 million cubic meters, up 309.34% year-on-year[92]. - The company plans to accelerate its transformation into a comprehensive energy service provider, leveraging the integration of the provincial gas network into the national grid to enhance gas supply capabilities and competitiveness[93]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as its corporate governance standard[171]. - The company emphasizes maintaining high levels of corporate governance as a foundation for effective management and successful business growth[179]. - The roles of the Chairman and CEO are not separated, with Mr. Sun Lianqing holding both positions since 1998, responsible for overall strategic planning and management[180]. - The company has established an audit committee composed of three independent non-executive directors, in compliance with corporate governance standards[183].
嘉兴燃气(09908) - 2022 - 年度业绩