Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 2.514 billion, a decrease of 12.5% compared to RMB 2.868 billion in 2022[3]. - The company reported a loss of approximately RMB 227.3 million for the year, compared to a profit of RMB 62.2 million in 2022[4]. - The basic loss per share for the year was RMB 2.59, compared to earnings of RMB 0.40 per share in 2022[5]. - The total comprehensive loss for the year amounted to RMB 244.5 million, compared to a comprehensive income of RMB 82.0 million in 2022[7]. - The company did not recommend a final dividend for the year, consistent with the previous year[6]. - The company reported a net loss of approximately RMB 231.749 million for 2023, compared to a profit of RMB 35.655 million in 2022[40]. - Basic loss per share for 2023 was RMB 0.0259, while in 2022, the basic earnings per share was RMB 0.0040[54]. Assets and Equity - The company's non-current assets totaled RMB 2.455 billion as of December 31, 2023, down from RMB 2.718 billion in 2022[11]. - Current assets amounted to RMB 897.8 million, slightly up from RMB 884.5 million in 2022[11]. - The company's total equity decreased to RMB 2.719 billion in 2023 from RMB 2.982 billion in 2022[12]. - Trade receivables decreased to RMB 56.896 million in 2023 from RMB 66.537 million in 2022, reflecting a reduction in credit losses[42]. - The company has no significant contingent liabilities as of December 31, 2023[50]. Revenue Breakdown - Total revenue from external customers for the year ended December 31, 2023, was RMB 2,513,521 thousand, a decrease of 12.3% from RMB 2,867,697 thousand in 2022[26]. - Revenue from pipeline gas distribution business was approximately RMB 1.169 billion, accounting for about 46.53% of total revenue, up from 33.28% in 2022[55]. - Pipeline gas sales revenue reached approximately RMB 1.045 billion, up 25.25% from RMB 834 million in 2022, representing 89.40% of total pipeline gas business revenue[58]. - Pipeline gas connection fee revenue for the year was approximately RMB 124 million, a 3.33% increase from RMB 120 million in 2022, accounting for 10.60% of total pipeline gas distribution revenue[57]. - The sales volume of pipeline gas was 41.835 million cubic meters, with residential users consuming 12.828 million cubic meters, an increase from 11.764 million cubic meters in 2022[58]. - The sales volume of bottled gas decreased to 96,332 tons from 99,717 tons in 2022, with revenue dropping to approximately RMB 656 million from RMB 744 million[59]. - Gas distribution sales volume fell by 25.66% to 135,994 tons, with revenue decreasing by 44.24% to approximately RMB 586 million[61]. Costs and Expenses - The gross profit for the year was RMB 312.6 million, representing a gross margin of 12.4%, compared to RMB 290.0 million in 2022[7]. - Financial costs increased to RMB 4,494 thousand in 2023 from RMB 3,518 thousand in 2022, marking a rise of 27.8%[32]. - Total employee costs rose to RMB 168,374 thousand in 2023 from RMB 155,072 thousand in 2022, an increase of 8.6%[37]. - The impairment loss on property, plant, and equipment was RMB 63,755 thousand in 2023, significantly higher than RMB 11,914 thousand in 2022[30]. - The company reported a significant increase in share of losses from joint ventures, amounting to approximately RMB 242.65 million, compared to a profit of RMB 4.16 million in 2022, reflecting a 5,934% increase in losses[72]. Future Outlook and Strategy - The company continues to focus on its core business areas, including pipeline gas distribution and retail operations, amidst challenging market conditions[14]. - The company aims to expand its market share and scale while adhering to the government's environmental policies, particularly focusing on carbon peak and carbon neutrality strategies[85]. - The company plans to enhance its gas distribution system to ensure stable and reliable gas supply while improving operational efficiency and safety management[89]. - The company is developing a digital gas management system to optimize the bottled gas supply chain, aiming to reduce operational costs and improve delivery efficiency[88]. - The company is committed to promoting clean energy and reducing environmental damage through initiatives like the "coal-to-gas" project, which converts coal-fired boilers to natural gas[83]. Governance and Compliance - The company has adhered to all corporate governance codes as per the listing rules throughout the year[93]. - The financial statements for the year have been audited by Fan Chen CPA Limited, confirming the figures are consistent with the audited consolidated financial statements[98]. - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange website and the company's website as per listing rules[99]. - The board of directors consists of 5 executive directors and 3 independent non-executive directors, ensuring a diverse governance structure[100].
中民控股(00681) - 2023 - 年度业绩