东珠生态(603359) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was RMB 828,691,806.84, a decrease of 33.28% compared to RMB 1,242,036,740.79 in 2022[18]. - The net profit attributable to shareholders of the listed company was a loss of RMB 314,599,799.62, compared to a profit of RMB 34,724,388.07 in the previous year, representing a decrease of 1,005.99%[18]. - The net cash flow from operating activities was a negative RMB 197,670,099.95, an improvement of 67.30% compared to a negative RMB 604,499,511.05 in 2022[18]. - The total assets at the end of 2023 were RMB 8,326,241,118.63, down 9.85% from RMB 9,235,819,578.85 at the end of 2022[18]. - The net assets attributable to shareholders of the listed company decreased by 8.75% to RMB 3,310,022,052.99 from RMB 3,627,308,776.59 in 2022[18]. - The company's operating revenue decreased by 33.28% compared to the same period last year[20]. - The net profit attributable to shareholders was -314.60 million yuan, with a net profit excluding non-recurring gains and losses of -318.08 million yuan[20]. - Basic earnings per share and diluted earnings per share decreased by 1012.5% compared to the same period last year, primarily due to the net profit loss[20]. - The weighted average return on net assets was -9.18%, a decrease of 10.14 percentage points compared to the previous year[20]. - The company reported a significant decline in operating revenue, achieving RMB 82,869.18 million, a decrease of 33.28% compared to the previous year[34]. - The net profit attributable to the parent company was a loss of RMB 31,459.98 million, marking a decline of 1,005.99% year-on-year[34]. - The total assets as of December 31, 2023, were RMB 832,624.11 million, down 9.85% from the previous year[34]. - The company reported a significant decline in operating revenue, achieving CNY 828,691,806.84, a decrease of 33.3% compared to CNY 1,242,036,740.79 in 2022[199]. - The company reported a net loss of CNY 371,907,448.32 for 2023, compared to a profit of CNY 39,627,359.98 in 2022[199]. Business Strategy and Future Outlook - The company plans to focus on ecological restoration and municipal landscape as its two main business lines in the future[29]. - The ecological restoration business will include wetland protection, water treatment, and forest carbon sink development[29]. - The company aims to align with national policies on ecological civilization and environmental protection in its future strategies[29]. - The company aims to establish 20 million hectares of national reserve forests by 2035, with an estimated investment exceeding RMB 500 billion, and an annual market growth of RMB 26-38 billion[31]. - The company is actively exploring new business models and expanding into water governance, national reserve forests, and carbon sink projects to enhance its market presence[35]. - The company is focusing on ecological restoration and has identified municipal and rural revitalization projects as key areas for future growth[33]. - The company aims to enhance its business layout in key ecological protection areas such as the Yellow River and Yangtze River basins, focusing on ecological restoration and landscape construction[85]. - The company plans to strengthen its carbon sink business in line with national dual carbon policies, leveraging CCER trading opportunities to convert ecological resources into economic advantages[85]. - The company will prioritize ecological restoration projects and explore multiple project models, particularly in areas like wetland restoration and water body governance, to enhance its market position[86]. Research and Development - The company obtained 16 patents during the reporting period, including 13 utility model patents and 3 invention patents, indicating a continuous improvement in R&D capabilities[39]. - The company has 116 R&D personnel, accounting for 38.67% of the total workforce[65]. - The proportion of R&D investment to operating revenue is 4.26%[64]. - R&D expenses decreased by 42.80% to 35,315,065.51 CNY, attributed to reduced R&D investment during the reporting period[62]. - The company emphasizes building high-quality technology platforms and collaborates with several universities for R&D[67]. Corporate Governance - The company has received a standard unqualified audit report from Beijing Dahua International Accounting Firm[6]. - The company has established a risk control center with specialized departments to mitigate financial risks associated with its engineering business, ensuring project quality and risk avoidance[38]. - The company has implemented management control over subsidiaries, ensuring compliance with relevant laws and regulations[135]. - The company has established various specialized committees, including audit, nomination, compensation, and strategy committees, to enhance governance[115]. - The company held a total of 6 board meetings during the year, all conducted via communication methods[114]. - The company has not faced any penalties from securities regulatory authorities in the past three years[111]. - The company has confirmed that there are no governance self-inspection issues requiring rectification[136]. Market Position and Competitive Edge - The company has established a strong competitive edge in ecological wetland projects, having completed significant projects like the Huai'an Baima Lake Wetland Park and the Hangzhou Qiantang River Ecological Landscape Project[49]. - The company has expanded its national operational network, with branches in over 20 provinces, enhancing its ability to integrate resources across regions and improve project execution capabilities[51]. - The company is positioned to benefit from the long-term development focus on ecological protection in the Yangtze River Delta region, enhancing its business opportunities[52]. - The company has received multiple awards, including "Jiangsu Province Contract-abiding and Trustworthy Enterprise" and "Top 50 National Urban Landscaping Enterprises," reflecting its strong market position[42]. Financial Management - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[5]. - There are no violations of decision-making procedures regarding external guarantees[5]. - The company has not reported any significant internal control deficiencies as of December 31, 2023, indicating effective financial reporting controls[135]. - The company has implemented an integrated design and construction approach, leveraging its full industry chain capabilities from seedling supply to project maintenance[50]. - The company has a clear cash dividend policy that complies with relevant laws and regulations, ensuring the protection of minority shareholders' rights[125]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 21,023, down from 22,272 at the end of the previous month[166]. - The largest shareholder, Xi Huiming, holds 151,872,560 shares, representing 34.04% of the total shares[168]. - The second-largest shareholder, Pu Jianfen, holds 38,118,080 shares, with a decrease of 5,472,712 shares during the reporting period[168]. - The total pre-tax compensation for all listed directors and supervisors amounted to 4,060,000 RMB for the year[102]. Environmental and Social Responsibility - The company has not faced any administrative penalties related to environmental issues during the reporting period[140]. - The company has not established an environmental protection mechanism, and the investment in environmental protection funds is not applicable[139]. - The ecological protection and environmental governance industry is recognized as a fundamental industry for sustainable development, with significant opportunities and challenges arising from increasing environmental pollution and ecological damage in China[81].