Financial Performance - The total revenue for the year ended December 31, 2022, was RMB 23,071,897, an increase of 36.3% compared to RMB 16,977,281 in 2021[2] - Gross profit for the year was RMB 4,348,882, representing a gross margin of approximately 18.9%[2] - The net profit attributable to shareholders for the year was RMB 1,326,211, a slight increase from RMB 1,295,445 in the previous year[2] - The company reported a total inter-segment sales of RMB 3,764,213 thousand, which was eliminated in the total revenue calculation[10] - The total profit before tax was RMB 2,180,657 thousand, showcasing the company's operational efficiency[10] - The company's revenue for 2022 was RMB 23,071,897 thousand, an increase of 36.3% compared to RMB 16,977,281 thousand in 2021[12] - Other income and gains totaled RMB 187,293 thousand in 2022, up from RMB 169,368 thousand in 2021, representing an increase of 10.3%[12] - The company's pre-tax profit for 2022 was RMB 1,326,211 thousand, compared to RMB 1,295,445 thousand in 2021, showing a slight increase[18] - The total tax expense for 2022 was RMB 372,482 thousand, a decrease from RMB 406,514 thousand in 2021, indicating a reduction of 8.4%[15] - Net profit for the year increased by RMB 37 million or approximately 2% from about RMB 1,771 million in FY2021 to approximately RMB 1,808 million in FY2022[46] Assets and Liabilities - The company reported total assets of RMB 27,867,176, up from RMB 25,508,667 in 2021, indicating a growth of 9.3%[3] - The total liabilities increased to RMB 18,299,348 from RMB 17,545,573, reflecting a rise of 4.3%[4] - The asset-liability ratio improved from 75.01% in FY2021 to 72.02% in FY2022, indicating better capital management[47] - As of December 31, 2022, the group's debt amounted to approximately RMB 5,556,000,000, representing about 45.04% of total debt maturing within one year, down from 56.31% the previous year[56] - The group's debt-to-equity ratio decreased from approximately 75.01% as of December 31, 2021, to about 72.02% as of December 31, 2022[56] Cash Flow and Investments - The company’s cash and cash equivalents rose to RMB 1,469,765, compared to RMB 893,116 in the previous year, marking an increase of 64.5%[3] - The group regularly reviews its financial investments and cash flow forecasts to manage liquidity risks[56] - The group aims to maintain a balance between liquidity and flexibility through the use of bank overdrafts and loans[56] Dividends and Shareholder Returns - The proposed dividend for the year will be disclosed in the financial statements, indicating a commitment to returning value to shareholders[2] - The proposed final dividend for 2022 is RMB 0.25 per share, compared to RMB 0.19 per share in 2021, which is an increase of 31.6%[16] - The board proposed a final dividend of RMB 0.25 per share for the year ended December 31, 2022, compared to RMB 0.19 per share for the previous year[51] Operational Highlights - The company plans to continue expanding its product offerings, focusing on differentiated products such as urea and methanol[6] - The company aims to enhance its market presence through strategic investments and potential acquisitions in the fertilizer sector[6] - The company continued to expand production capacity and geographic reach, contributing to record revenue and profitability[25] - The company is focusing on optimizing product structure and enhancing marketing strategies to improve profitability in the automotive urea segment[27] - The company plans to further enhance its production capabilities and diversify its product offerings in response to market demands[25] Cost and Expenses - The cost of goods sold for 2022 was RMB 18,723,015 thousand, compared to RMB 12,873,163 thousand in 2021, reflecting a rise of 45.5%[13] - Sales and distribution expenses rose from approximately RMB 476 million in FY2021 to about RMB 529 million in FY2022, primarily due to increased employee costs of RMB 48 million and warehouse rental costs of RMB 5 million[42] - General and administrative expenses increased from approximately RMB 935 million in FY2021 to about RMB 1,072 million in FY2022, largely due to an increase in compensation of RMB 108 million for core technical talent and other expenses[43] - Financial costs rose from approximately RMB 583 million in FY2021 to about RMB 662 million in FY2022, attributed to increased interest-bearing loans[44] Employee and Governance - The group had 9,313 employees as of December 31, 2022, an increase from 8,698 employees the previous year[62] - The group is committed to adhering to the corporate governance code and has complied with all relevant rules during the year[60] - There were no significant contingent liabilities or major litigations as of December 31, 2022[57] - The group has not engaged in any purchase, sale, or redemption of its own securities during the year ended December 31, 2022[62]
中国心连心化肥(01866) - 2022 - 年度业绩