BLIIC(SZ:300135)2024-04-26 17:44Financial Performance - The company reported a loss in 2023 due to insufficient road construction commencement rates and ongoing global inflation pressures, leading to increased costs in labor, transportation, processing, and services[5]. - The company's operating revenue for 2023 was ¥2,145,988,321.10, a decrease of 13.07% compared to ¥2,468,625,833.60 in 2022[29]. - The net profit attributable to shareholders for 2023 was ¥44,682,718.90, representing a significant decrease of 74.00% from ¥171,839,425.00 in 2022[29]. - The net cash flow from operating activities was negative at ¥87,310,019.00, a decline of 141.89% compared to ¥208,414,077.74 in 2022[29]. - The basic earnings per share for 2023 was -¥0.049, improving by 73.80% from -¥0.187 in 2022[29]. - Total assets at the end of 2023 were ¥2,293,586,086.24, down 2.80% from ¥2,359,401,510.57 at the end of 2022[29]. - The net assets attributable to shareholders decreased by 4.48% to ¥953,952,144.87 in 2023 from ¥998,638,020.81 in 2022[29]. - The company reported a total revenue of 2.146 billion CNY for 2023, with a net profit attributable to shareholders of -44.68 million CNY[81]. - Total revenue for 2023 was ¥2,145,988,321.1, a decrease of 13.07% compared to ¥2,468,625,833.6 in 2022[88]. - Revenue from professional asphalt was ¥2,034,755,760.8, accounting for 94.82% of total revenue, down 13.17% from ¥2,343,463,626.2[88]. - The company reported a total of 308 employees receiving compensation, with 13 retirees that the parent company and major subsidiaries need to support[180]. Market and Industry Trends - Asphalt consumption in China reached approximately 30 million tons in 2023, with 25.67 million tons (75%) directed to the road market, a 1% decrease from 2022[6]. - The waterproof market consumed around 5.66 million tons of asphalt (17%), reflecting a 2% increase compared to 2022[6]. - The demand for asphalt is anticipated to rise in 2024 due to increased infrastructure investment, with new highway projects expected to commence[49]. - The asphalt supply is expected to tighten in 2024 due to limited new production capacity, while demand is projected to increase[50]. - The asphalt market is projected to see an increase in demand due to the government's infrastructure plans, with over 550,000 kilometers of highways expected to be operational by 2025[126]. - The company currently holds a market share of approximately 2% in the asphalt industry, with an annual production and sales volume exceeding 600,000 tons[128]. Research and Development - The company has invested in R&D, holding dozens of patents and participating in six national-level scientific research projects, enhancing its technological capabilities[42]. - The company has completed the research and development of solid waste original mixing modification technology, addressing major issues in the reuse of recycled pavement[98]. - The company is focused on creating a stable and durable factory-mixed warm recycled asphalt mixture, which is essential for meeting national environmental policies[100]. - The company is committed to developing innovative technologies that support the sustainable development of road construction and maintenance[100]. - The R&D efforts are expected to significantly impact the company's future growth and market expansion in the asphalt industry[98]. - The company is working on new technologies to improve the stability and performance of recycled asphalt, addressing challenges such as aging resistance and high-temperature stability[102]. - The company aims to replace traditional emulsified asphalt with new modified asphalt in various road applications, including heavy-load traffic and airport runways, indicating a broad market potential[103]. Strategic Initiatives - The company plans to enhance its comprehensive service capabilities in the asphalt supply chain and deepen its involvement in the civil helicopter industry in 2024[7]. - The company aims to innovate its asphalt supply chain services, integrating procurement, warehousing, processing, and distribution[42]. - The company is focusing on expanding its helicopter leasing business and has successfully renewed all expiring contracts, maintaining stable trade volumes in aviation materials[84]. - The company is strategically positioned to benefit from increased market opportunities as national infrastructure projects accelerate towards the end of the 14th Five-Year Plan[84]. - The company aims to establish strategic partnerships with leading enterprises in the industry to enhance its comprehensive service capabilities[131]. - The company is focusing on capital operations through its public platform to support business growth and reduce financing costs[131]. Corporate Governance and Compliance - The company has implemented a disclosure management system to ensure timely and accurate information disclosure[150]. - The company actively respects and maintains the rights of stakeholders, promoting balanced interests among all parties[150]. - The company has maintained strict compliance with regulations regarding related party transactions and external guarantees[177]. - The audit committee conducted 4 meetings, approving the 2022 annual report and the first quarter report of 2023, ensuring the reports accurately reflect the company's operational status[175]. - The company has not engaged in any external guarantees that could harm the interests of the company or its shareholders during the reporting period[177]. Employee Development and Management - The company emphasizes the importance of talent development and has established a comprehensive training system to enhance employee skills and management capabilities[183]. - The management team consists of multi-disciplinary talents with extensive experience in modern enterprise management, emphasizing risk control and financial health[61]. - The company is committed to talent development and has implemented a comprehensive training program to build a robust talent pipeline[85]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 4.906 million[168]. Risk Management - The company engaged in hedging activities to mitigate risks associated with price fluctuations of raw materials and products, with a focus on maintaining a business scale aligned with expected procurement and sales[118]. - The company has established a comprehensive risk management framework for its hedging operations, including a dedicated risk control team and specific procedures for monitoring market conditions and adjusting strategies accordingly[119]. - The company faces risks from fluctuations in raw material prices, particularly asphalt, which is influenced by oil prices, and is implementing measures to mitigate these risks through long-term supplier relationships and futures trading[140].