Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 513.51 million, a decrease of 31.83% compared to RMB 753.31 million in 2022[2] - Operating profit increased by 17.74% to RMB 140.77 million from RMB 119.56 million in the previous year[2] - Net profit attributable to equity shareholders rose by 36.41% to RMB 70.84 million, compared to RMB 51.93 million in 2022[2] - Basic earnings per share increased by 36.28% to RMB 0.154 from RMB 0.113 in the prior year[4] - The total comprehensive income for the year was RMB 71.24 million, compared to RMB 47.91 million in 2022, representing a significant increase[6] - The pre-tax profit increased to RMB 107,637,000 in 2023, compared to RMB 76,578,000 in 2022, showing an increase of about 40.6%[37] - The total income tax expense rose to RMB 36,797,000 in 2023 from RMB 24,648,000 in 2022, which is an increase of approximately 49.2%[34] - The basic and diluted earnings per share for the year were RMB 0.154, an increase of RMB 0.041 or 36.28% from RMB 0.113 in 2022[78] Assets and Liabilities - Total assets decreased by 2.81% to RMB 1,729.63 million from RMB 1,779.71 million in 2022[2] - Total equity attributable to equity shareholders increased by 9.56% to RMB 816.13 million from RMB 744.89 million in the previous year[2] - Net debt decreased by 19.79% to RMB 697.62 million from RMB 869.76 million in 2022[2] - The debt-to-capital ratio improved to 46.09%, down from 53.87% in the previous year, reflecting a decrease of 7.78%[2] - As of December 31, 2023, the group's net current liabilities amounted to RMB 284,999,000, compared to RMB 282,850,000 as of December 31, 2022, indicating a slight increase in liabilities[14] - The company's current liabilities increased from RMB 244,755,000 in 2022 to RMB 374,575,000 in 2023, reflecting a rise of approximately 53%[49] - As of December 31, 2023, the total debt of the group is RMB 828,337,000, a decrease from RMB 959,187,000 as of December 31, 2022[84] Revenue Sources - The group's primary business involves the construction, operation, and management of power plants, with revenue derived from energy sales, capacity fees, thermal sales, and operation and maintenance services[24] - The total revenue from electricity sales decreased to RMB 468,882,000 in 2023 from RMB 696,273,000 in 2022, representing a decline of approximately 32.7%[30] - The revenue from heat sales was RMB 44,628,000 in 2023, down from RMB 56,869,000 in 2022, indicating a decrease of about 21.5%[30] - The company reported a total operating and maintenance service revenue of RMB 165,000 in 2022, which was not recorded in 2023[30] - The total sales volume of heat decreased by 20.19% to 113,387 tons compared to 142,073 tons in 2022, with sales revenue dropping by 21.52% to RMB 44,628,000 from RMB 56,869,000 in 2022[59][66] Costs and Expenses - Fuel costs for the year amounted to RMB 211,665,000, a decrease of 54.90% compared to RMB 469,318,000 in 2022[70] - Operating expenses for the year were RMB 372,738,000, down RMB 261,008,000 or 41.18% from RMB 633,746,000 in 2022[74] - Financial costs for the year were RMB 36,878,000, a decrease of RMB 9,682,000 or 20.79% from RMB 46,560,000 in 2022[76] Dividends - The company did not declare an interim dividend and proposed no final dividend, marking a 100% decrease from the previous year's final dividend of HKD 0.026[2] - The company did not declare any dividends for the year 2023, compared to RMB 10,440,000 in dividends declared for 2022[40] - The board decided not to declare a final dividend for the year ended December 31, 2023, due to high debt levels and the need to reserve funds for debt repayment[97] Governance and Compliance - The company has adopted and applied the corporate governance code as per the listing rules, ensuring compliance throughout the year ending December 31, 2023[100] - The audit committee has reviewed the group's annual performance for the year ending December 31, 2023, confirming compliance with applicable accounting standards and regulations[107] - The audit committee consists of three independent non-executive directors, ensuring independent oversight of financial reporting[105] - The company has complied with the corporate governance code and listing rules after appointing Mr. Wei Junyong as the authorized representative on September 13, 2023[101] - The company has ensured that all directors have access to the company secretary's advice and services to comply with legal and regulatory requirements[102] Operational Highlights - The company operates five wholly-owned gas-fired power plants in Zhejiang Province, maintaining a total installed capacity of 688.07 MW[54] - The total electricity generation for the year ended December 31, 2023, decreased by 54.95% to 264,361.73 GWh compared to 586,869.83 GWh in 2022[55] - The total natural gas consumption decreased by 51.54% from 141,333,300 cubic meters in 2022 to 68,496,863 cubic meters in 2023[55] - The photovoltaic generation capacity remained at 1,072 kW, with total photovoltaic generation of approximately 1,135 MWh, up from 777 MWh in 2022[65] - The group saved RMB 618,600 in electricity costs through photovoltaic generation, compared to RMB 389,700 in 2022[65] Future Outlook - The group aims to strengthen its cost management and explore new business models in response to challenges in the electricity market[94] - The Chinese government's commitment to carbon neutrality presents significant opportunities for the group in green energy and diversified energy supply[96] - The company is actively negotiating with its major shareholder regarding overdue loan repayments and exploring other financing options[85]
普星能量(00090) - 2023 - 年度业绩