Financial Performance - For the year ended December 31, 2023, the company reported a consolidated revenue of RMB 785.003 million, an increase of 10.0% compared to RMB 713.594 million in the previous year[4]. - The company's profit before tax decreased by 85.4% to RMB 3.372 million from RMB 23.083 million in 2022[5]. - Basic and diluted earnings per share for 2023 were RMB 0.16, down from RMB 4.93 in 2022[5]. - The company's gross profit for 2023 was RMB 41.694 million, compared to RMB 34.524 million in 2022, reflecting a gross margin improvement[5]. - The company reported a net profit of RMB 2.670 million for the year, down from RMB 17.310 million in 2022[5]. - Reported segment profit decreased to RMB 87,312,000 in 2023 from RMB 105,798,000 in 2022, representing a decline of approximately 17%[29]. - Other net income for 2023 was RMB 926,000, significantly down from RMB 29,347,000 in 2022, a decrease of approximately 96.85%[34]. - The pre-tax profit for 2023 was RMB 3,372,000, a substantial decline from RMB 23,083,000 in 2022, representing a decrease of about 85%[38]. - The net profit attributable to the parent company decreased by 96.7% from RMB 7.89 million in 2022 to RMB 0.26 million in 2023, mainly due to the complete price linkage mechanism and the early operational stage of the Lingang thermal power project[89]. Revenue Segments - Revenue from energy production and supply segment was RMB 554,086,000, up 11.8% from RMB 495,665,000 in 2022[23]. - The energy production and supply segment's revenue rose by 11.8% to RMB 554 million in 2023, driven by the linkage of steam sales prices with fuel costs and increased online electricity volume[74]. - The company sold 1.707 million tons of steam in 2023, a decrease of 2.9% from 1.758 million tons in the previous year, while electricity sales reached 248.9 million kWh, a slight decrease of 0.2% from 249.4 million kWh[72]. - The company’s online electricity volume increased significantly by 170.2% to 95.4 million kWh in 2023, attributed to the commercial operation of the Lingang gas-fired distributed energy station project[72]. Assets and Liabilities - Total assets less current liabilities as of December 31, 2023, were RMB 696.944 million, an increase from RMB 626.387 million in 2022[6]. - Non-current liabilities increased to RMB 238.153 million in 2023 from RMB 160.930 million in 2022, primarily due to increased borrowings[7]. - Total assets increased to RMB 1,089,093,000 in 2023 from RMB 1,064,408,000 in 2022, reflecting a growth of about 2.3%[30]. - Total liabilities rose to RMB 630,302,000 in 2023, up from RMB 598,951,000 in 2022, indicating an increase of approximately 5.2%[31]. - The company had unused bank financing facilities of RMB 227.309 million as of December 31, 2023, supporting its operational liquidity[15]. Cost Management - Administrative expenses decreased to RMB 25.783 million in 2023 from RMB 28.561 million in 2022, reflecting cost control measures[5]. - The company is actively pursuing cost reduction strategies, including optimizing procurement models and enhancing management efficiency[71]. - The energy production and supply segment costs increased by 11.1% to RMB 525.8 million in 2023, primarily due to the transition from coal to natural gas for the Lingang project[78]. - Financial costs increased by 5.3% from RMB 12.64 million in 2022 to RMB 13.31 million in 2023, mainly due to the expansion of the financing scale[85]. Investments and Acquisitions - The company completed the acquisition of 95% equity in Yangzhou Qingchang on December 28, 2023, marking a significant step in expanding its operations beyond Tianjin[68]. - The company acquired 95% equity in Yangzhou Qingchang for approximately RMB 15.37 million, which focuses on solar photovoltaic project development[96]. Employee and Governance - The total employee count as of December 31, 2023, is 72, with 87.5% holding a bachelor's degree or higher[118]. - The group organized 48 safety training sessions and 57 professional skills training sessions in 2023 to enhance employee capabilities[120]. - The company has adopted the corporate governance code and complied with its provisions for the year ending December 31, 2023[122]. - The audit committee reviewed the group's annual performance and the audited financial statements for the year ending December 31, 2023[127]. Future Outlook - In 2024, the group aims to accelerate the development of renewable energy projects, including distributed photovoltaic projects and energy management contracts[113]. - The company plans to invest in contract energy management and distributed photovoltaic projects in 2024 to ensure sustainable and profitable long-term development[129].
天保能源(01671) - 2023 - 年度业绩