Financial Performance - Steel product sales volume reached 7.10 million tons, a decrease of 10.9% compared to 8.00 million tons in 2021[2]. - Revenue from self-produced steel products was RMB 282.2 billion, down 19.6% from RMB 350.9 billion in 2021[2]. - EBITDA for the year was RMB 2.357 billion, a decline of 45.7% from RMB 4.340 billion in 2021[3]. - Net profit attributable to equity holders was RMB 8.08 billion, down 67.6% from RMB 24.93 billion in 2021[3]. - Basic earnings per share decreased to RMB 0.22, a drop of 67.2% from RMB 0.67 in 2021[3]. - The annual profit for 2022 was RMB 811,355,000, a decrease of 68.1% compared to RMB 2,542,733,000 in 2021[7]. - The total revenue for 2022 was RMB 48,620,332,000, down from RMB 51,957,557,000 in 2021, representing a decline of 4.5%[6]. - The gross profit for 2022 was RMB 1,752,895,000, compared to RMB 4,091,606,000 in 2021, indicating a decrease of 57.2%[6]. - The company reported a gross profit margin of 4.8%, down from 8.4% in the previous year[3]. - The total operating profit before tax was RMB 755,731 thousand, down from RMB 3,051,412 thousand in 2021[20]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 48.02 billion, a decrease of 7.9% from RMB 52.12 billion in 2021[3]. - The total assets as of December 31, 2022, were RMB 48,023,590,000, down from RMB 52,119,178,000 in 2021, a decrease of 7.4%[10]. - The total liabilities as of December 31, 2022, were RMB 22,738,943,000, compared to RMB 28,004,320,000 in 2021, a decrease of 18.6%[10]. - Total debt decreased to 22,738,943 thousand RMB from 29,004,320 thousand RMB, representing a reduction of approximately 21.5%[11]. - Non-current liabilities totaled 1,584,950 thousand RMB, down from 2,446,046 thousand RMB, indicating a decline of about 35.1%[11]. - Current liabilities amounted to 21,153,993 thousand RMB, a decrease from 26,558,274 thousand RMB, reflecting a reduction of approximately 20.5%[11]. - The company reported trade payables of 3,667,664 thousand RMB, down from 6,902,573 thousand RMB, which is a decrease of around 46.8%[11]. Cash Flow and Financial Position - Cash and cash equivalents decreased to RMB 2,124,697,000 in 2022 from RMB 4,626,779,000 in 2021, a decline of 54.1%[10]. - The company reported a net financial income of RMB 236,530,000 in 2022, compared to RMB 226,145,000 in 2021, an increase of 4.3%[6]. - The company reported a current income tax expense of RMB 178,141 thousand for the year ended December 31, 2022, down from RMB 551,593 thousand in 2021, indicating a decrease of approximately 68%[34]. - The company incurred a loss of RMB 225,547 thousand from unrealized fair value changes in financial assets for the year ended December 31, 2022, compared to a gain of RMB 99,985 thousand in 2021[31]. Dividends and Shareholder Returns - Special dividend per share remained at HKD 0.03, unchanged from the previous year[3]. - The company proposed a final dividend of approximately HKD 223 million (around RMB 182 million), equating to HKD 0.06 per ordinary share, and a special dividend of approximately HKD 112 million (around RMB 91 million), equating to HKD 0.03 per ordinary share for the year ended December 31, 2021[44]. - For the year ended December 31, 2022, the company recommended a special dividend of approximately HKD 112 million (around RMB 98 million), equating to HKD 0.03 per ordinary share, pending shareholder approval[44]. Market and Operational Strategy - The company plans to focus on market expansion and new product development in the upcoming year[5]. - The company plans to focus on expanding its electrical equipment sales and improving operational efficiency in the steel segment[19]. - The company aims to enhance operational efficiency and sustainability through cost reduction, marketing efforts, and investment in environmental protection and product development[80]. - The company expects to continue to create greater value for its shareholders despite the challenging market conditions[87]. Research and Development - Research and development expenses increased to RMB 933,122,000 in 2022 from RMB 791,971,000 in 2021, reflecting a rise of 17.8%[6]. - The total expenses for research and development-related materials and energy surged to RMB 254,027 thousand in 2022 from RMB 113,341 thousand in 2021, an increase of 124.3%[28]. Environmental and Sustainability Initiatives - The group has invested heavily in environmental protection, achieving an A-level environmental performance rating from the Hebei Provincial Department of Ecology and Environment in January 2022[82]. - The group aims to achieve carbon peak by 2025 and carbon neutrality by 2050, investing in equipment upgrades and environmental projects[99]. - The group continues to invest in various environmental initiatives to reduce emissions of particulate matter, sulfur dioxide, and nitrogen oxides[82]. Industry Context - In 2022, China's steel industry faced significant challenges, with total profits dropping to RMB 36.55 billion, a decrease of 91.3% compared to 2021[77]. - The production volumes for pig iron, crude steel, and steel products in 2022 were 864 million tons, 1.018 billion tons, and 1.34 billion tons, representing decreases of 0.8% and 1.7%, and an increase of 0.3% respectively compared to 2021[77].
中国东方集团(00581) - 2022 - 年度业绩