Jiangnan Water(SH:601199)2024-04-24 10:56Financial Performance - The company reported an undistributed profit of RMB 1,641,247,474.83 as of December 31, 2023[6]. - The company's operating revenue for 2023 reached ¥1,364,014,058.89, representing a year-on-year increase of 7.57% compared to ¥1,268,016,553.67 in 2022[22]. - Net profit attributable to shareholders was ¥323,386,867.87, up 15.32% from ¥280,420,308.46 in the previous year[22]. - The basic earnings per share increased to ¥0.35, reflecting a growth of 16.67% compared to ¥0.30 in 2022[23]. - The weighted average return on equity rose to 8.96%, an increase of 0.70 percentage points from 8.26% in 2022[23]. - Total assets at the end of 2023 amounted to ¥6,096,314,156.46, a 4.14% increase from ¥5,853,969,223.58 at the end of 2022[22]. - Cash flow from operating activities was ¥480,506,330.33, showing a decrease of 4.67% from ¥504,068,553.13 in 2022[22]. - The company reported a net profit of ¥118,612,434.93 in Q3 2023, which is a significant increase compared to Q2's ¥63,821,931.02[26]. Dividend Policy - A cash dividend of RMB 0.104 per share (before tax) is proposed, totaling RMB 97,261,870.37 based on a total share capital of 935,210,292 shares[6]. - The cash dividend payout ratio for the year is 30.08%[6]. - The company plans to maintain its profit distribution ratio even if the total share capital changes before the dividend record date[6]. Risk Management - The company has no significant risks that materially affect its operations during the reporting period[9]. - The company has not faced any substantial risks that could impact its production and operations[9]. - The company's future plans and development strategies are subject to investment risks[7]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm[5]. - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[4]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. Market and Business Expansion - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30]. - The company is actively expanding its market presence through the development of new technologies and services, including smart water supply platforms[52]. - The company aims to expand its market reach and extend its industrial chain by entering the wastewater industry, targeting to become a benchmark service provider in the water industry for small and medium-sized cities[150]. Technological Development - The company is advancing "Smart Water 2.0" and "Smart Drainage" initiatives to improve operational capabilities and decision-making[36]. - The company has filed for 27 new utility model patents and developed two software copyrights during the reporting period[36]. - The company has 52 utility model patents and 19 software copyrights, enhancing its innovation capabilities[55]. Environmental Initiatives - The company established an ESG management system to enhance sustainable development practices[38]. - The company is committed to enhancing drinking water safety and has outlined plans for the protection of water sources by 2025[128]. - The company is focused on achieving 100% compliance in water quality and pressure standards, with a water fee recovery rate of no less than 98%[144]. Employee and Management Structure - The total number of employees in the parent company is 677, while the main subsidiaries have 299 employees, resulting in a total of 976 employees[187]. - The company has implemented a comprehensive training program for employees, focusing on enhancing management capabilities and professional skills, with 44 key personnel selected for intensive training[191]. - The company has a structured process for assessing and determining remuneration based on performance evaluations conducted by the human resources department[169]. Governance and Shareholder Relations - The company has established a system for managing insider information to ensure legal and fair disclosure practices[157]. - The company emphasizes the importance of protecting minority shareholders' rights and has mechanisms in place for them to express their opinions[196]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[155]. Regulatory Compliance - The company has been under regulatory scrutiny, receiving multiple warnings from securities regulatory bodies in 2022 and 2023[172][173]. - The company has implemented a robust internal control system and governance structure in compliance with relevant laws and regulations, ensuring orderly operations[154].