2024-03-28 16:00Financial Performance - The company reported significant financial metrics for the year, including total revenue and net profit, which are detailed in the financial report section [20]. - The company's operating revenue for 2023 reached ¥22,090,522,303.98, representing an 18.40% increase compared to ¥18,657,843,200.85 in 2022 [21]. - Net profit attributable to shareholders for 2023 was ¥3,350,584,670.61, a significant increase of 129.95% from ¥1,457,074,605.98 in 2022 [21]. - The basic earnings per share (EPS) for 2023 was ¥0.7023, up 129.81% from ¥0.3056 in 2022 [21]. - The weighted average return on equity (ROE) increased to 10.05% in 2023, up 5.33 percentage points from 4.72% in 2022 [21]. - The net cash flow from operating activities for 2023 was ¥8,822,157,069.56, reflecting a 109.50% increase from ¥4,210,969,546.22 in 2022 [21]. - The total assets at the end of 2023 amounted to ¥72,083,612,271.55, a 5.62% increase from ¥68,250,453,937.90 at the end of 2022 [21]. - The net assets attributable to shareholders at the end of 2023 were ¥34,391,504,390.45, an 8.93% increase from ¥31,570,671,392.82 at the end of 2022 [21]. - The company reported a non-recurring gain of ¥402,961,720.44 from the disposal of non-current assets in 2023 [28]. - The company experienced a significant increase in net profit after deducting non-recurring gains, which reached ¥4,134,398,748.59, up 197.31% from ¥1,390,621,607.14 in 2022 [21]. Dividend Policy - The company plans to distribute a cash dividend of RMB 3.5 per 10 shares, totaling approximately RMB 1,669.77 million, with a dividend payout ratio of 49.84% [5]. - The board of directors recommended a cash dividend of RMB 3.50 per 10 shares for the fiscal year 2023, based on a net profit attributable to shareholders of RMB 3.351 billion [193]. - The total cash dividend amount for 2023 is projected to be RMB 1.669 billion, representing 49.84% of the net profit attributable to shareholders [196]. - The company has established a comprehensive decision-making process for profit distribution, ensuring independent directors' involvement and consideration of minority shareholders' opinions [188]. - Cash dividends for domestic shareholders will be paid in RMB, while foreign shareholders will receive dividends in foreign currency based on the exchange rate on the day of the shareholders' meeting [191]. Market Expansion and Strategy - The company is focusing on expanding its market presence and enhancing operational efficiency through new technologies and product development initiatives [20]. - The company is actively pursuing opportunities in the new energy transportation sector as part of its "14th Five-Year Plan" strategy [129]. - The company aims to develop a full LNG value chain by tracking upstream energy companies and exploring long-term LNG transportation projects [134]. - The company is focusing on digital empowerment and sustainable development to enhance its brand image [119]. - The company is exploring strategic partnerships for market expansion in Southeast Asia, targeting a 10% market share by 2025 [157]. LNG and Oil Transportation - The company's LNG trade volume grew by approximately 2.8% year-on-year, with China becoming the largest LNG importer, reaching 71.32 million tons, a 12% increase [41]. - The global LNG export volume from the US reached 88.8 million tons, marking an 8% increase and establishing a new historical high for the country [41]. - The company is actively expanding its LNG capacity, with ongoing projects expected to enhance operational efficiency and profitability [34]. - The company has expanded its LNG fleet to 73 vessels, an increase of 11 vessels compared to the previous year, enhancing its competitive strength in LNG transportation [63]. - The company’s LNG transportation business provides stable revenue growth, contributing to approximately 36.4% of total revenue in 2023 [50]. Cost Management and Financial Health - The company's total operating costs for 2023 amounted to RMB 15.476 billion, representing a year-on-year increase of 1.7% [64]. - The gross margin for the water transportation industry increased by 11.2 percentage points to 29.5% [58]. - The company is focused on cost control by managing fuel procurement prices and consumption to reduce fuel costs [135]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain [160]. Governance and Management - The board of directors consists of 8 members, with 4 independent directors, ensuring effective governance and oversight [146]. - The company has implemented a comprehensive internal control system to enhance management and risk prevention capabilities [150]. - The company has established and effectively implemented an internal control system in accordance with the internal control norms [200]. - The management is responsible for the daily operation of the internal control system [200]. - The company has committed to maintaining operational independence from its controlling shareholder, China Ocean Shipping Group, ensuring compliance with regulatory requirements [151]. Future Outlook - The company anticipates a 4.1% year-on-year growth in crude oil ton-mile trade demand and a 7.3% increase in refined oil ton-mile trade demand for 2024 [113]. - The global LNG trade is projected to grow by 5.3% in 2024, with an average annual compound growth rate of 9.1% from 2023 to 2028 [117]. - The company expects the global LNG fleet to grow by 11% in 2024, adding 71 new LNG carriers to the market [117]. - The company plans to add 2 chemical tankers and 6 LNG vessels in 2024, increasing its fleet capacity significantly [120]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% [160]. Employee and Training Initiatives - The total number of employees in the parent company is 6,543, and the total number of employees in major subsidiaries is 1,368, resulting in a combined total of 7,911 employees [179]. - The company has organized 80 specialized training projects in 2023, with a total of 12,907 participants and 118,002 training hours, achieving a 100% coverage rate for employee education training [183]. - The company emphasizes a performance-based salary system, linking employee income closely to performance evaluation results [182]. Risk Management - The company faces risks from macroeconomic fluctuations, geopolitical uncertainties, and competition from alternative transportation methods [121][122][124]. - The company has implemented a risk management strategy that aims to reduce operational risks by 15% over the next fiscal year [157]. - The company is implementing measures to mitigate risks associated with freight price volatility and fuel price fluctuations [125][126].