Financial Performance - The group recorded revenue of approximately RMB 302.9 million for the fiscal year ending December 31, 2023, consistent with the previous year[7]. - For the fiscal year ending December 31, 2023, the company's revenue was approximately RMB 302.9 million, a decrease of about 4.7% compared to RMB 317.9 million for the fiscal year ending December 31, 2022[18]. - Revenue from oil product sales was approximately RMB 224.1 million, a slight decrease of about 2.4% from RMB 229.7 million in the previous year[14]. - Revenue from handling services decreased by approximately 14.2% to about RMB 73.8 million, primarily due to a reduction in cargo throughput[19]. - The overall gross profit decreased by approximately 9.0% to about RMB 49.2 million, with the gross profit margin declining from approximately 17.0% to 16.3%[23][24]. - Other income for the fiscal year ending December 31, 2023, was approximately RMB 2.7 million, compared to a net loss of approximately RMB 553,000 for the fiscal year ending December 31, 2022[25]. - Financial income for the fiscal year ending December 31, 2023, was approximately RMB 1.0 million, primarily from bank interest income[26]. - Selling and administrative expenses decreased by approximately 12.6% to about RMB 14.6 million, mainly due to reductions in professional service expenses and other costs[27]. - The company's profit attributable to owners for the year ended December 31, 2023, was approximately RMB 19.1 million, an increase of about 9.3% compared to RMB 17.5 million for the year ended December 31, 2022[32]. Operational Performance - The total cargo throughput was approximately 3,345 thousand tons, a decrease of about 819 thousand tons or 19.7% compared to the previous year[12]. - The average handling fee for cargo processing increased compared to the previous year, despite the overall decrease in demand[12]. - The total employee cost for the year ended December 31, 2023, was approximately RMB 25.2 million, down from RMB 28.0 million for the year ended December 31, 2022, due to a reduction in the number of employees from 236 to 219[43]. - The company has no significant investments, acquisitions, or disposals involving subsidiaries, associates, or joint ventures for the year ended December 31, 2023[40]. - The company has no pledged assets as of December 31, 2023, compared to certain pledged assets with a total carrying value of RMB 39.0 million and RMB 46.8 million in bank deposits as of December 31, 2022[41]. Strategic Initiatives - The group is planning to expand its international import trade business, which is expected to become a significant revenue source in the coming years[8]. - The company is in the preparatory stage for its international import trading business, expected to commence in 2024[15]. - The company aims to enhance its corporate image and reputation through a trade framework agreement with Maoming Tianyuan, which was established on November 1, 2022[15]. - The group aims to mitigate the impact of crude oil price fluctuations on its trading business through various hedging strategies[8]. - The group will actively respond to the demand for health management due to the aging population trend, aligning with the health industry[8]. - The group plans to enhance operational capabilities and efficiency while consolidating its core business[51]. - The group aims to expand its sales coverage in the oil sales sector and invest more resources in the development of import trade business[51]. - The group will actively seek and seize potential business and investment opportunities to further diversify its operations[52]. - Business diversification is expected to promote revenue diversification, profitability, and long-term sustainable growth for the group[52]. Corporate Governance - The board has emphasized the importance of corporate governance, ensuring compliance with relevant regulations and standards[82]. - The company has maintained a strong internal control framework, with external consultants engaged for periodic reviews[84]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[89]. - The board currently consists of three independent non-executive directors, accounting for over one-third of the board[93]. - All independent non-executive directors have received annual confirmation letters affirming their independence according to listing rules[93]. - The company has arranged adequate insurance coverage for directors' liabilities since May 17, 2018, complying with corporate governance code C.1.8[94]. - The company has adopted a nomination policy to guide the nomination committee in evaluating candidates for the board[119]. - The company ensures that the remuneration committee's recommendations are based on performance and market conditions[110]. - The company has confirmed compliance with corporate governance codes and regulations[106]. - The annual corporate governance report has been verified and confirmed by the board[106]. Environmental, Social, and Governance (ESG) Initiatives - The company has adhered to all "comply or explain" provisions of the Environmental, Social, and Governance (ESG) reporting guidelines during the reporting year[159]. - The board of directors is responsible for leading and supervising environmental, social, and governance (ESG) matters, ensuring the group addresses opportunities and risks related to sustainable development[167]. - The group has established an ESG working group to enhance the effectiveness of sustainable development governance[167]. - The group conducts regular environmental assessments and monitoring reports to ensure compliance with standards and legal regulations regarding wastewater, noise, and air pollution[178]. - No significant violations related to air and greenhouse gas emissions, water and land discharges, or waste generation were reported during the fiscal year[177]. - The group actively engages with stakeholders through meetings, surveys, and dialogues to gather feedback on ESG issues[168]. - The group aims to strengthen its operations, management, and technology in port activities and facilities[165]. - The group emitted 19.65 kg of nitrogen oxides, 6.55 kg of sulfur oxides, and 1.81 kg of particulate matter during the reporting year[181]. - Greenhouse gas emissions totaled 2,526.69 tons of CO2 equivalent, with a density of 0.76 tons of CO2 equivalent per thousand tons of total cargo throughput[183]. - The group has set a target to reduce total greenhouse gas emissions by 3% per year for every thousand tons of total cargo throughput over the next 10 years[196].
天源集团(06119) - 2023 - 年度财报