Financial Performance - The group's operating revenue for the year ended December 31, 2023, was approximately RMB 1,286.4 million, a decrease of about 4.9% compared to the same period in 2022[33]. - The net profit for the year was approximately RMB 223.9 million, an increase of about 0.3% compared to the same period in 2022[33]. - The net profit attributable to the owners of the parent company was approximately RMB 209.9 million, an increase of about 3.3% compared to the same period in 2022[33]. - The basic earnings per share for the year was approximately RMB 0.24, unchanged from the same period in 2022[33]. - Total revenue for 2023 was RMB 1,286,434, a decrease of 4.9% from RMB 1,353,419 in 2022[44]. - Net profit for 2023 was RMB 223,913, slightly up from RMB 223,241 in 2022, indicating a growth of 0.3%[45]. - Operating profit for 2023 increased to RMB 268,577, compared to RMB 254,020 in 2022, reflecting a growth of 5.8%[44]. - The company's total liabilities decreased to RMB 4,042,153 thousand in 2023 from RMB 4,299,548 thousand in 2022, indicating a reduction of approximately 6%[71]. - The group's net profit was RMB 223.9 million, a slight increase of 0.3% from RMB 223.2 million in 2022, with a net profit margin rising from 16.5% in 2022 to 17.4% in 2023[146]. Dividends - The board proposed a final dividend of RMB 0.05 per share (before tax), totaling approximately RMB 42.99 million, subject to shareholder approval[34]. - The company declared a final dividend of RMB 0.05 per share, totaling RMB 42.99 million for the year[65]. - The company will distribute a final dividend to H-share shareholders, subject to a withholding tax of 10% according to Chinese tax regulations[190]. Assets and Liabilities - As of December 31, 2023, the group's long-term prepaid expenses were RMB 184.4 million, a decrease from RMB 210.2 million as of December 31, 2022, primarily due to amortization during the reporting period[1]. - The group's accounts payable increased to RMB 417.1 million as of December 31, 2023, from RMB 376.1 million as of December 31, 2022, mainly due to increased payable engineering costs for the Chengnan sewage treatment plant project[2]. - The group's contract liabilities decreased to RMB 177.2 million as of December 31, 2023, from RMB 224.4 million as of December 31, 2022, primarily due to a reduction in pre-received engineering payments[4]. - The group's non-current liabilities due within one year increased to RMB 569.6 million as of December 31, 2023, from RMB 216.7 million as of December 31, 2022, mainly due to the reclassification of long-term borrowings and payable bonds[5]. - The net debt-to-equity ratio at the end of the reporting period was 102.3%, up from 91.2% at the end of 2022[8]. - Cash and cash equivalents as of December 31, 2023, were RMB 390,505, down 36.0% from RMB 609,756 in 2022[46]. - Total assets as of December 31, 2023, were RMB 7,054,786, a slight decrease from RMB 7,140,568 in 2022[46]. - The company's total equity increased to RMB 3,012,633 thousand in 2023 from RMB 2,841,020 thousand in 2022, indicating a growth of approximately 6%[71]. - The total borrowings at the end of the reporting period were approximately RMB 2,922.6 million, down from RMB 3,098.4 million at the end of 2022[182]. Revenue Breakdown - Revenue from wastewater treatment services increased to RMB 607,255 thousand in 2023, up from RMB 523,978 thousand in 2022, reflecting a growth of about 15.9%[79]. - The group's revenue from water supply was RMB 384.7 million, a decrease of 6.4% compared to RMB 411.1 million in the same period of 2022, accounting for 29.9% of total revenue in 2023[133]. - Revenue from installation services was RMB 256.8 million, down 28.6% from RMB 359.5 million in 2022, representing 20.0% of total revenue in 2023[133]. - The group's operating revenue was RMB 1,286.4 million, a decrease of 4.9% from RMB 1,353.4 million in the same period of 2022, primarily due to a reduction in water supply and engineering installation revenue[105]. Operational Metrics - The total water sales volume during the reporting period was approximately 163.4 million tons, an increase of 1.04% compared to 161.7 million tons in the same period of 2022[102]. - The actual total urban sewage treatment volume was approximately 160.1 million tons, up 6.6% from 150.2 million tons in the same period of 2022[104]. - The company operates 12 water supply plants with a total daily supply capacity of approximately 774,000 tons, maintaining an average utilization rate of 70.19%[130]. - The company has 9 operational urban sewage treatment plants with a daily treatment capacity of approximately 489,000 tons, with a production load rate of 77.8%[103]. Research and Development - Research and development expenses significantly decreased to RMB 51 from RMB 821 in 2022, a reduction of 93.8%[44]. - The group's R&D expenses were RMB 51,245, primarily for the development of the "C-MBR integrated wastewater treatment equipment"[166]. - The company aims to enhance its core competitiveness by increasing R&D efforts in smart water management and loss control technologies[126]. Corporate Governance and Management - The strategic committee member Chen Bing resigned on December 13, 2023, and Xu Fei was appointed as a new member on the same day[197]. - Xu Guanghua was appointed as an executive director on July 19, 2023, following a review by the employee representative assembly[198]. - The company has been compliant with all provisions of the corporate governance code during the reporting period[200]. Legal and Compliance - The company is involved in a legal dispute with a claim amounting to RMB 8.853 million, which is still under review[187]. - The company has not generated any foreign exchange gains during the reporting period and currently has unutilized cash in HKD[186].
兴泸水务(02281) - 2023 - 年度业绩