Financial Performance - The company reported a net loss attributable to shareholders of $(0.71) per share for 2023, compared to $(0.53) per share in 2022, indicating a worsening in earnings per share[5]. - Net loss attributable to the owners of the parent company increased to RMB (1,425,879,061.33) from RMB (859,017,550.51) in the previous year, marking an increase of about 66.0%[43]. - The total net profit for the current period is (578,534,451.16), compared to (448,935,447.37) in the previous period, indicating a significant increase in losses[69]. - The net profit attributable to shareholders of the parent company is (566,861,510.82), up from (424,969,725.59), reflecting a worsening financial performance[69]. - The loss per share was approximately RMB 0.71, up about 33.96% from RMB 0.53 per share in the previous year[66]. Revenue and Costs - Total operating revenue for the year ended December 31, 2023, was RMB 1,317,495,782.20, a decrease from RMB 2,765,645,281.40 in 2022, representing a decline of approximately 52.3%[40]. - Total operating costs for the year were RMB 1,627,990,434.22, down from RMB 3,129,597,158.90 in the previous year, indicating a reduction of about 48.0%[40]. - Revenue from external transactions originating in China was ¥990,219,379.24 in 2023, down from ¥2,359,717,382.90 in 2022, indicating a decrease of approximately 58.0%[80]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 2,888,081,988.80, down from RMB 4,038,605,559.51 in 2022, a decrease of approximately 28.5%[43]. - Total liabilities as of December 31, 2023, were RMB 2,553,379,468.25, down from RMB 3,128,252,351.27 in 2022, a decrease of approximately 18.3%[43]. - Current assets decreased to 923,407,920.06 from 1,648,063,045.76, representing a decline of approximately 44%[70]. - Cash and cash equivalents significantly dropped to 99,072,876.12 from 459,657,822.57, a decrease of about 78%[70]. Accounts Receivable and Bad Debts - Total accounts receivable decreased to approximately $509.65 million in 2023 from $611.26 million in 2022, a reduction of about 16.6%[9]. - The total bad debt loss for accounts receivable was approximately $(9.72) million in 2023, significantly lower than $(61.27) million in 2022, reflecting improved credit management[2]. - The aging analysis of accounts receivable shows a significant decrease in receivables aged within one year, from approximately $406.34 million in 2022 to $208.81 million in 2023, a decline of about 48.7%[9]. Research and Development - Research and development expenses for the year were RMB 35,480,208.21, down from RMB 41,651,730.15 in 2022, representing a decrease of approximately 14.9%[40]. - The company incurred research and development costs of RMB 30,578,559.41, compared to RMB 33,412,376.94 in the previous year[59]. Strategic Plans and Market Outlook - The company plans to enhance its financing efforts to ensure capital safety and optimize its debt structure, aiming to reduce high-interest debt rates[28]. - The outlook for the domestic oil and gas industry remains positive, driven by increased exploration and development efforts, which is expected to boost demand for oilfield services[17]. - The company aims to adjust sales strategies for 2024, focusing on new markets and customers, with a goal to improve market share and restore confidence[101]. - The company plans to strengthen marketing efforts and optimize sales strategies, focusing on new markets and customers to improve operational conditions in 2024[137]. Governance and Compliance - The company has adopted the corporate governance code and has complied with all relevant provisions for the year ending December 31, 2023[167]. - The board does not recommend the distribution of a final dividend for the year ending December 31, 2023, pending shareholder approval[156]. - The company has not repurchased, sold, or redeemed any of its listed securities during the year ending December 31, 2023[172]. Risk Management - The company emphasizes risk management strategies to mitigate operational risks, including monitoring raw material price fluctuations and currency exchange rates[25][26]. - The company aims to enhance financing efforts to ensure capital safety and improve internal control management systems to mitigate operational risks[130][131].
山东墨龙(00568) - 2023 - 年度业绩