Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 12,997,322, representing a 14.6% increase from HKD 11,344,500 in 2021[2] - The non-HKFRS EBITDA for 2022 was HKD 1,932,267, a decrease of 7.1% compared to HKD 2,079,049 in 2021[2] - The company recorded a revenue of HKD 12,997,322,000 for the year ended December 31, 2022, representing a year-on-year growth of 14.6% from HKD 11,344,500,000 in 2021[9] - The gas sales segment contributed HKD 11,331,259,000 to the total revenue, marking a 22% increase, driven by a diversified customer strategy[11] - Gross profit decreased to HKD 1,966,607,000, down 10.1% from HKD 2,188,937,000 in the previous year[17] - The net profit for the year was HKD 242,917,000, a significant decline of 80.7% compared to HKD 1,262,643,000 in 2021[18] - Basic and diluted earnings per share for 2022 were HKD 61.5, significantly down from HKD 442.5 in 2021[48] - The profit attributable to the company's owners for 2022 was HKD 174,077,000, down 85.4% from HKD 1,188,997,000 in 2021[86] - The net profit margin for the year ended December 31, 2022, was 1.3%, compared to 10.5% in 2021[86] Sales and Operations - Natural gas sales volume reached 2,854,188 thousand cubic meters, up 1.3% from 2,818,011 thousand cubic meters in the previous year[2] - The integrated energy sales volume surged by 438.2%, reaching 117.00 million kWh compared to 21.74 million kWh in 2021[2] - The company expanded its pipeline gas connection user base by 280,807 users, increasing the total length of its main pipelines from 26,399 kilometers to 27,263 kilometers, a growth of 3.3%[11] - The company operates 75 franchised gas projects across 11 provinces, with 23,964 industrial and commercial customers and 4.66 million residential users served[8] - The cumulative number of industrial customers connected reached 3,919, an 11.4% increase from 3,519[60] - The number of residential gas customers connected increased to 4,662,392, a 7.0% growth from 4,357,324 in 2021[60] Strategic Initiatives - In 2023, the company aims to enhance its gas business profitability by tapping into commercial gas demand and optimizing its gas supply structure[5] - The company plans to develop industrial comprehensive energy services and explore energy digital technology and carbon asset management[6] - The company has signed multiple regional comprehensive energy development agreements with local governments, laying a solid foundation for future growth in smart energy[4] - The company is committed to becoming the first private enterprise in China's natural gas industry to integrate a sustainable framework into its overseas financing structure[4] - The company is focusing on clean energy and smart energy strategies, aiming to enhance collaboration between gas and smart energy businesses for long-term development[15] Financial Position - The company's total assets less current liabilities amounted to HKD 15,805,069,000, down from HKD 18,244,385,000 in the previous year[22] - The total equity attributable to the owners of the company was HKD 8,128,223,000, down from HKD 8,658,997,000 in 2021[22] - The company reported a net current liability of HKD 4,233,143,000, compared to HKD 1,318,166,000 in the previous year[21] - The net debt amounted to HKD 10,204,830,000 as of December 31, 2022, up from HKD 9,472,748,000 in 2021, resulting in a net debt-to-equity ratio of approximately 1.12[52] - The group has secured loan financing of up to HKD 1,462,703,000 from various banks as of December 31, 2022[53] Cost and Expenses - The company incurred a financing cost of HKD 329,382,000, which increased from HKD 189,627,000 in the previous year[17] - The overall gross profit margin for the year ended December 31, 2022, was 15.1%, down from 19.3% in 2021, primarily due to reduced margins in gas pipeline construction and sales[78] - The gross profit margin for pipeline natural gas sales decreased to 10.1% from 11.1% in 2021, attributed to the rise in average procurement costs exceeding the increase in average selling prices[79] - Financing costs increased by 73.7% to HKD 329,382,000, primarily due to rising effective interest rates[83] Government Support - The group recognized government subsidies related to COVID-19 amounting to HKD 1,989,000 in 2022, compared to HKD 191,000 in 2021, with HKD 120,000 related to the Hong Kong government's employment support scheme[38] - The group received subsidies for promoting natural gas usage from the Chinese government totaling HKD 88,874,000 in 2022, up from HKD 67,772,000 in 2021[39] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the review year[90] - The audit committee, composed of independent non-executive directors, reviewed the accounting principles and practices adopted by the group for the year ended December 31, 2022[91]
中裕能源(03633) - 2022 - 年度业绩