CMES(SH:601872)2024-03-27 16:00Financial Performance - The company's net profit for 2023 reached RMB 1,733,498,154.68, with a statutory surplus reserve of RMB 173,349,815.47, accounting for 10% of the net profit[4]. - A cash dividend of RMB 2.38 per 10 shares (including tax) is proposed, totaling RMB 1,938,225,912.01 (including tax), which represents 40.07% of the net profit attributable to shareholders[4]. - The company's operating revenue for 2023 was approximately ¥25.88 billion, a decrease of 12.88% compared to ¥29.71 billion in 2022[16]. - Net profit attributable to shareholders for 2023 was approximately ¥4.84 billion, down 4.92% from ¥5.09 billion in 2022[16]. - The net profit after deducting non-recurring gains and losses for 2023 was approximately ¥8.92 billion, an increase of 27.48% compared to ¥6.99 billion in 2022[17]. - The total assets at the end of 2023 were approximately ¥62.39 billion, a decrease of 4.70% from ¥65.47 billion at the end of 2022[17]. - The net assets attributable to shareholders at the end of 2023 were approximately ¥36.89 billion, an increase of 11.62% from ¥33.05 billion at the end of 2022[17]. - The company's operating revenue for the reporting period was approximately ¥25.88 billion, a decrease of 12.88% compared to the previous year[69]. Shareholder Returns - The board has approved a share buyback program worth 100 million CNY to enhance shareholder value[10]. - The cash dividend proposal for 2023 will be submitted for approval at the shareholders' meeting following the board's recommendation[168]. - The cash dividend represents 40.07% of the net profit attributable to shareholders of the listed company for the 2023 fiscal year, which is RMB 4,836,966,617.91[171]. - The company has established a stable profit distribution policy that prioritizes cash dividends while considering long-term interests and sustainable development[165]. Market and Industry Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[10]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[10]. - The company expects global crude oil import demand to grow by over 3% in 2024, driven primarily by India and China, while the supply of crude oil tankers is projected to grow only by about 0.2%[112]. - The company anticipates that the tanker market will remain in a favorable state through 2025, with demand expected to grow by 3.1% while supply only increases by 0.3%[112]. Operational Efficiency and Strategy - The company is exploring potential acquisitions to enhance its service offerings and market reach[10]. - A new strategic partnership was announced, aimed at improving operational efficiency and reducing costs by 15%[10]. - The company plans to implement a new digital platform to enhance customer engagement and streamline operations[10]. - The company is focusing on digital transformation through the application of IoT, big data, blockchain, and AI technologies to enhance operational efficiency and management[58]. Research and Development - Research and development investments increased by 30%, focusing on innovative shipping technologies[10]. - The company increased R&D expenses by 209.33% to ¥3.94 million, reflecting a focus on innovation[69]. - The company is investing $200 million in research and development for new technologies aimed at enhancing operational efficiency[143]. Environmental and Sustainability Initiatives - The company is actively pursuing the "carbon peak, carbon neutrality" strategy and has established a comprehensive energy-saving and environmental protection management system[181]. - The company completed the installation of exhaust gas desulfurization devices on 15 vessels during the reporting period, effectively reducing SO2 emissions[180]. - The company achieved an EEXI compliance rate of 98.91% for its fleet, with all main engine power limitation modifications completed[181]. - The company has installed desulfurization scrubbers on 62 ships, including 37 VLOCs, 6 Capesize bulk carriers, and 19 VLCCs, to comply with IMO 2020 sulfur emission regulations[182]. Governance and Compliance - The company has established a strong governance framework with the appointment of external directors to strengthen oversight and strategic direction[146]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[150]. - The company’s independent directors have expressed their agreement with the revised cash dividend policy, emphasizing the protection of investors' rights[165]. Human Resources and Management - The company has a total of 4,755 employees, with 3,690 in production, 345 in sales, 423 in technology, 191 in finance, and 277 in administration[162]. - The company has established a mid-to-long-term incentive plan to attract and retain core talent[163]. - The total remuneration for directors, supervisors, and senior management in 2023 is determined based on the completion of the annual business plan and individual KPI assessments[148]. Financial Management - Financial expenses surged by 633.095 million RMB, an increase of 152.09%, primarily due to rising interest rates on dollar-denominated loans[1]. - The company experienced a significant cash outflow from investment activities, totaling 28.949 billion RMB, an increase of 158.93% year-on-year, due to new shipbuilding and acquisitions[1]. - The company’s financing activities resulted in a net cash outflow of 51.196 billion RMB, an increase of 97.39% year-on-year, attributed to substantial loan repayments and increased cash dividends[1].