MXEP(SH:600101)2024-03-28 16:00Financial Performance - In 2023, the company achieved a net profit of ¥143,589,691.87, with a distributable profit of ¥129,230,722.68 after statutory reserve allocation[4]. - The proposed cash dividend is ¥0.10 per share, totaling ¥42,143,267.00 for the year, resulting in a cash dividend payout ratio of 23.50%[5]. - The company's operating revenue for 2023 was ¥2,666,271,867.00, representing a 12.16% increase compared to 2022[29]. - The net profit attributable to shareholders was ¥179,338,571.88, reflecting a 12.66% increase from the previous year[29]. - The net cash flow from operating activities decreased by 5.97% to ¥312,239,033.04 in 2023[29]. - Total assets at the end of 2023 amounted to ¥3,894,611,438.41, a 2.19% increase from the previous year[29]. - The company's net assets attributable to shareholders increased by 5.73% to ¥2,666,022,843.90[29]. - The weighted average return on equity was 6.55%, an increase of 0.41 percentage points from the previous year[31]. - The basic earnings per share rose to 0.4255 RMB, reflecting a 12.66% increase compared to the previous year[31]. - The company's total revenue for the reporting period was approximately CNY 2.66 billion, with a gross profit margin of 10.83%[67]. Revenue and Sales - The company achieved operating revenue of 2.666 billion RMB in 2023, representing a year-on-year increase of 12.16%[38]. - The total electricity sales volume was 440,028.74 million kWh, up 8.69% compared to the previous year[58]. - The water sales volume increased by 2.47% year-on-year, totaling 4,889.18 million tons[58]. - The company completed 62.95 billion kWh of market-based electricity sales, indicating rapid growth in this segment[40]. - The company reported a total investment plan of CNY 55,550.59 million, with actual investment completed at CNY 46,425.92 million, achieving 83.57% of the planned investment[109]. - The company achieved a total electricity sales volume of 440,028.74 million kWh in 2023, exceeding the annual plan by 1.15%[144]. Costs and Expenses - The main business cost rose by 12.92% year-on-year, mainly due to increased electricity purchase costs corresponding to the growth in electricity sales volume[62]. - The gross profit margin decreased by 0.46 percentage points, attributed to a decline in power generation and increased purchase costs, with the gross margin for power production and supply dropping by 1.36 percentage points[62]. - The company's total purchased electricity cost reached ¥1,366,265,977.09, accounting for 54.93% of total costs, an increase of 15.24% compared to the previous year[73]. - The total sales expenses increased by 20.01% to ¥8,729,353.38 compared to the previous year[82]. - The company’s management expenses rose by 19.06% to ¥88,608,552.48 year-on-year[82]. Research and Development - The research and development expenses surged by 5,392.19% due to the establishment of a new R&D department in its subsidiary[60]. - The company reported a total R&D expenditure of ¥17,301,756.32, which is 0.65% of total revenue, with 86.70% of R&D costs capitalized[86]. - The number of R&D personnel is 52, accounting for 3.40% of the total workforce[87]. Market Position and Strategy - The company maintained a 100% market share in the electricity supply market and nearly 90% in the water supply market within its jurisdiction[47]. - The company anticipates stable growth in national electricity consumption demand in 2024, driven by economic recovery and the transition to a low-carbon economy[128]. - The company is facing challenges due to the closure of three water plants, which will increase reliance on purchased water and operational costs[137]. - The company aims to enhance service quality and invest in technological innovation to improve market competitiveness[133]. - The company is navigating a competitive electricity sales market as the industry shifts from a purchase-sale model to a transmission and distribution pricing model[133]. Governance and Management - The board of directors consists of 9 members, including 3 independent directors, complying with legal requirements[158]. - The supervisory board has 5 members, with 2 being employee representatives, also meeting legal standards[159]. - The company has established a fair and transparent performance evaluation system for senior management, linking compensation to performance results[159]. - The company held multiple investor meetings, including the "2022 Annual Performance and Cash Dividend Briefing" and "2023 Half-Year Performance Briefing," enhancing transparency[160]. - The company strictly adheres to insider information management regulations to prevent insider trading and ensure equal information access for all shareholders[160]. Future Outlook - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[169]. - The company plans to pursue strategic acquisitions, targeting firms that can enhance its technological capabilities and market reach[169]. - A new product line is set to launch in Q2 2024, anticipated to generate an additional 5% in revenue growth[169]. - The management team has set a performance guidance of 15% EBITDA margin for the next fiscal year, up from 12%[169]. Employee and Training - The total number of employees in the parent company and major subsidiaries is 1,531, with 1,222 in the parent company and 309 in subsidiaries[193]. - The company conducted 1,305 training sessions in 2023, including 1,138 internal and 167 external training sessions[196].