Financial Performance - Revenue for the year ended December 31, 2023, was RMB 1,934,498 thousand, a decrease of 12.3% from RMB 2,205,356 thousand in 2022[2] - Gross profit for the same period was RMB 606,505 thousand, down from RMB 675,940 thousand, reflecting a decline in gross margin[2] - Operating profit decreased to RMB 422,175 thousand from RMB 491,242 thousand, representing a decline of 14.1%[2] - Profit before tax was RMB 255,977 thousand, down 26.8% from RMB 349,939 thousand in the previous year[2] - Net profit attributable to shareholders was RMB 190,954 thousand, a decrease of 37.1% compared to RMB 303,755 thousand in 2022[2] - Basic and diluted earnings per share decreased to RMB 12.73 from RMB 20.25, reflecting a significant drop in profitability[2] - EBITDA for the year was RMB 662 million, down 5% from RMB 698 million last year[66] - Profit attributable to shareholders for the year was RMB 191 million, a decrease of 37% from RMB 304 million last year[66] - Earnings per share for the year were RMB 0.127, compared to RMB 0.203 in 2022[66] - The net profit for the year was RMB 202,079,000, down from RMB 281,561,000 in the previous year, representing a decline of approximately 28%[83] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 9,897,162 thousand, down from RMB 10,571,045 thousand in 2022[9] - Non-current assets decreased to RMB 6,902,334 thousand from RMB 6,995,219 thousand, indicating a reduction in long-term investments[9] - Cash and cash equivalents significantly decreased to RMB 1,209,940 thousand from RMB 2,373,654 thousand, highlighting liquidity challenges[9] - The total liabilities of the group decreased to RMB 6.24 billion from RMB 7.13 billion, reflecting a reduction in non-current liabilities[69] - As of December 31, 2023, total assets were RMB 9.897 billion, and total liabilities were RMB 6.241 billion, a decrease of RMB 674 million and RMB 890 million respectively from the previous year[151] Revenue Segments - The solid waste treatment and electricity and steam sales generated revenue of RMB 1.135 billion, an increase of 2.7% from RMB 1.105 billion last year[39] - The revenue from waste incineration power plant construction, equipment sales, and related services decreased by 47.5% to RMB 476 million from RMB 907 million last year[39] - Revenue from solid waste treatment services increased to RMB 294,577,000 in 2023, up from RMB 277,853,000 in 2022, reflecting a growth of 6.2%[119] - Revenue from electricity sales was RMB 680,238,000, a slight decrease from RMB 695,547,000 in 2022[119] - The solid waste segment generated revenue of RMB 2,011,989,000, while the ecological construction segment contributed RMB 193,367,000[80] Operational Highlights - The company managed ten solid waste treatment projects in mainland China, with a daily waste processing capacity increased to 12,475 tons due to the completion of the Zhangjiagang project[110] - The total amount of waste processed reached 4.208 million tons, with a daily average of 11,529 tons, marking a 9.7% increase year-on-year[134] - The company achieved a power generation of 1.604 billion kWh, reflecting a year-on-year growth of 14.3%[134] - The sludge treatment volume increased by 83.2% year-on-year to 390,800 tons[134] - The company completed the expansion of a waste treatment project with a capacity of 2,250 tons per day, which commenced commercial operations in the first half of 2023[135] Governance and Compliance - The audit committee consists of three independent non-executive directors, including Dr. Cang Huan (chairman), Dr. Li Zuo Jin, and Dr. Jian Ping Wang, who reviewed the financial performance and approved the group's annual results for the year ending December 31, 2023[184] - The company's auditor agreed that the preliminary financial figures published for the year ending December 31, 2023, are consistent with the draft consolidated financial statements[184] - The board of directors comprises five executive directors and five independent non-executive directors, ensuring a balanced governance structure[187] - The company has complied with all applicable corporate governance code provisions as of December 31, 2023, except for those disclosed below[189] Future Plans - The company expects to transfer ownership of the existing plant in Zhangjiagang to government agencies by the end of 2024[30] - The company plans to continue expanding its solid waste treatment and ecological construction services in the upcoming year[86] - The company plans to focus on solid waste market expansion and high-end solid waste treatment services in 2024[136] - The company intends to divest its stake in the ecological construction segment to concentrate resources on solid waste market development[147] - The company plans to sell 51% of its subsidiary, Beijing Beikong Ecological Construction Group Co., Ltd., through a public listing on the Beijing Property Exchange, with a listing price of RMB 52,823,400[108]
北京控股环境集团(00154) - 2023 - 年度业绩