Financial Performance - The total revenue for 2023 was RMB 1,780,527,288.76, a slight increase from RMB 1,780,358,629.25 in 2022, representing a growth of 0.01%[6] - The net loss for 2023 was RMB 155,194,987.82, compared to a net loss of RMB 68,432,088.03 in 2022, indicating a significant increase in losses[6] - The basic loss per share for 2023 was RMB 0.084, compared to RMB 0.037 in 2022, indicating a worsening of the loss per share[6] - The company reported a significant increase in operating losses, which amounted to RMB 164,861,949.09 in 2023 compared to RMB 90,708,063.10 in 2022[6] - The gross profit margin for the reporting period was a loss of 4.02%, an improvement from the previous year's loss of 5.57%[39] - The company recorded a pre-tax loss of approximately RMB 165,460,000, compared to a pre-tax loss of RMB 92,891,000 in the previous year[39] Assets and Liabilities - Current assets decreased to RMB 1,081,800,217.56 in 2023 from RMB 1,478,995,904.95 in 2022, a decline of approximately 27%[4] - Total liabilities decreased to RMB 747,664,956.61 in 2023 from RMB 917,826,878.57 in 2022, a reduction of about 18.5%[5] - The total assets of the company decreased to RMB 2,177,398,537.03 in 2023 from RMB 2,503,305,611.68 in 2022, a decrease of about 13%[5] - The company's cash and cash equivalents decreased to RMB 789,606,526.80 in 2023 from RMB 1,067,256,503.97 in 2022, a decline of approximately 26%[4] - The company's inventory decreased significantly from RMB 4,277,384.14 in 2022 to RMB 2,035,300.70 in 2023, a reduction of approximately 52%[4] - The company's long-term equity investments slightly decreased to RMB 53,896,495.69 in 2023 from RMB 54,902,040.73 in 2022[4] Accounts Receivable and Payable - The company's accounts receivable as of December 31, 2023, totaled approximately $192.30 million, a decrease of 15.4% from $227.30 million in 2022[12] - The aging analysis of accounts receivable shows that receivables within one year decreased to $192.31 million in 2023 from $226.88 million in 2022, indicating a decline of 15.2%[12] - The provision for bad debts decreased to $11.76 million in 2023 from $12.45 million in 2022, reflecting a reduction of 5.5%[15] - The company reported a total of $93.81 million in receivables from bank acceptance bills as of December 31, 2023, down from $140.28 million in 2022, a decline of 33.2%[15] - The company reported a total of RMB 296,882,410.08 in accounts payable as of December 31, 2023, down from RMB 434,170,568.15 in 2022, reflecting improved cash flow management[26] Fixed Assets and Depreciation - The company's fixed assets increased to approximately $1.68 billion in 2023 from $1.62 billion in 2022, marking a growth of 3.6%[17] - The accumulated depreciation for fixed assets as of December 31, 2023, was approximately $796.83 million, compared to $730.40 million in 2022, an increase of 9.1%[17] - The year-end book value of fixed assets totaled RMB 1,623,106,091.17, an increase from RMB 1,533,751,079.63 at the beginning of the year[22] - The accumulated depreciation for fixed assets at year-end 2023 was RMB 730,403,267.36, up from RMB 670,672,200.52 at the start of the year[22] - The company recognized an impairment provision of approximately RMB 86,000,000 for fixed assets during the reporting period due to market changes and sales forecasts[41] Strategic Initiatives and Future Outlook - The company anticipates continued growth in China's natural gas industry and consumption, benefiting from the "14th Five-Year Plan" and various pollution control policies[52] - Natural gas is expected to become the primary fuel for urban residents, with significant applications in public transportation and industrial sectors, particularly in the Bohai Rim region[53] - The company plans to address single gas source issues, expand market reach, and enhance internal management to reduce administrative costs in 2024[54] - The company aims to strengthen technological innovation and improve operational safety and management methods[57] - The company is committed to maximizing shareholder returns while ensuring sustainable cash flow growth[54] - The company will continue to enhance its financial management system to lower operating costs and maximize project returns[54] Corporate Governance and Compliance - The company confirmed compliance with corporate governance standards, focusing on internal controls and fair disclosure[73] - The board of directors has adopted a securities trading code for compliance by directors and supervisors, confirming adherence during the reporting period[74] - The company has appointed a new independent auditor, KPMG, to enhance the independence and quality of its audit work[58] - The company has received shareholder approval for its "14th Five-Year" development strategy plan, which focuses on clean energy solutions[60] Employee and Operational Changes - The company had a total of 615 full-time employees as of December 31, 2023, down from 695 employees in the previous year[49] - The company did not recommend any dividend payment for the 12 months ending December 31, 2023[33] - The company did not declare or recommend any dividends during the reporting period, consistent with the previous year[51] Contracts and Agreements - The new construction framework agreement with Tianjin Energy Investment Group has annual caps of RMB 141 million, RMB 124 million, and RMB 77 million for the years ending December 31, 2023, 2024, and 2025, respectively[64] - The company entered into a procurement contract with Tianjin Yumin Gas Meter Co., Ltd. for IoT gas meters, with annual caps of RMB 22 million, RMB 2.048 million, and RMB 2 million for the years ending December 31, 2023, 2024, and 2025 respectively[65] - A city gas supply contract was signed with Tianjin Binran Pipeline Construction Co., Ltd., with annual caps of RMB 344 million, RMB 375 million, and RMB 408 million for the years ending December 31, 2024, 2025, and 2026 respectively[66] - A new gas supply contract with Tianran Huarun was established, effective from April 1, 2024, to March 31, 2027, with annual caps of RMB 1.326 billion, RMB 2.282 billion, RMB 2.473 billion, and RMB 992 million for the respective periods[68] Miscellaneous - The potential sale of assets from the company's Qiqihar branch has a revised minimum price of approximately RMB 91.332 million[70] - The annual general meeting is scheduled for June 27, 2024, with a suspension of share transfer registration from June 24 to June 27, 2024[75] - The company has not purchased, sold, or redeemed any listed securities during the reporting period[72] - The company’s 2023 annual report will be published on its website and the stock exchange's website at an appropriate time[76] - The board of directors includes three executive directors, three non-executive directors, and three independent non-executive directors as of March 28, 2024[78]
天津津燃公用(01265) - 2023 - 年度业绩