Financial Performance - Chengdu Expressway Co., Ltd. reported its audited financial results for the year ending December 31, 2022[2]. - The company reported a total revenue of RMB 2,596,622,994 for 2022, a decrease of 3.9% compared to RMB 2,702,370,887 in 2021[33]. - The net profit for 2022 was RMB 576,961,786, down 15.8% from RMB 685,058,443 in 2021[33]. - The net profit attributable to shareholders was RMB 506,727,585, a decrease of 17.6% from RMB 614,652,615 in the previous year[33]. - Basic earnings per share were approximately RMB 0.31, down 16.2% from RMB 0.37 in 2021[33]. - The total assets of the company reached RMB 9.127 billion as of the end of the reporting period[12]. - The total liabilities decreased to RMB 4,209,133,009 from RMB 4,556,306,092 in the previous year[45]. - The company reported maintenance income of RMB 13,719,875, an increase of 24.3% from RMB 11,036,958 in 2021[47]. - The total reserves available for distribution to equity shareholders at the end of the reporting period were approximately RMB 1,527,160,528[160]. - The proposed dividend represents about 60.3% of the company's distributable profits for the year[162]. Revenue Breakdown - Revenue from the highway business segment was RMB 1,304,595,516, accounting for 50.2% of total revenue, while the energy segment contributed RMB 1,292,027,478, making up 49.8%[33]. - The highway segment reported toll revenue of RMB 1,211,781,245, a decrease of 14.3% compared to RMB 1,413,912,681 in 2021[35]. - The energy segment achieved operating revenue of RMB 1,292,027,478, representing a growth of 7.1% from RMB 1,206,542,637 in 2021[36]. - The energy segment reported revenue of RMB 1,292,027,478, an increase of RMB 85,484,841 or 7.1% compared to 2021, primarily driven by rising oil prices despite the impact of COVID-19[50]. Operational Highlights - The company operates a total of 5 highways with a combined length of 192.02 kilometers, and the total operational mileage, including managed highways, is 381.69 kilometers[12]. - The company has achieved significant improvements in safety and quality of service in its highway operations in recent years[12]. - The company is involved in the management of three additional gas stations under entrusted operations, enhancing its energy business footprint[12]. - The company is committed to leveraging its strategic location to enhance service quality and operational efficiency in its highway and energy segments[12]. - The company has a strategic focus on expanding its highway network to connect economically and culturally rich areas around Chengdu[12]. Governance and Management - The company appointed new board members and committee members on September 30, 2022, to enhance governance and oversight[27]. - The company has a governance structure that includes a general meeting of shareholders, a board of directors, and various specialized committees, ensuring compliance with legal regulations and enhancing transparency and accountability[101]. - The board of directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors, with a term of three years[103]. - The company has adopted the Corporate Governance Code as its governance guideline, maintaining high standards of corporate governance throughout the reporting period[101]. - The company has established a three-level risk management system, with the Audit and Risk Management Committee overseeing the overall risk management work[136]. Future Outlook - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 1.32 billion[81]. - In 2023, the company plans to enhance core business profitability and focus on key project construction, including the expansion of Chengwenqiong Expressway under a BOT model[41]. - The company aims to acquire quality gas stations and improve existing refined oil management services while responding to the national "dual carbon" strategy[41]. - The company is considering strategic acquisitions to enhance its service offerings, with potential targets identified in the market[79]. Shareholder Engagement - The company expresses gratitude to shareholders, customers, partners, management, and employees for their support[44]. - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance[151]. - The company will hold its annual general meeting on May 12, 2023, with a suspension of share transfer registration from May 9 to May 12, 2023[166]. Challenges and Risks - The company faced challenges due to the COVID-19 pandemic and other external factors but remains optimistic about future growth opportunities[33]. - The company has implemented a risk management framework to better address potential market fluctuations and operational risks[113]. - The company has confirmed that its internal control system is effective and sufficient, with no significant deficiencies identified during the annual review[140].
成都高速(01785) - 2022 - 年度业绩