QiaoYin(SZ:002973)2024-04-26 17:44Financial Performance - The company's operating revenue for 2023 was approximately ¥3.94 billion, a decrease of 0.29% compared to ¥3.95 billion in 2022[21]. - Net profit attributable to shareholders for 2023 was approximately ¥316.81 million, an increase of 0.70% from ¥314.60 million in 2022[21]. - The net profit after deducting non-recurring gains and losses was approximately ¥305.19 million, reflecting a 2.97% increase from ¥296.38 million in 2022[21]. - The cash flow from operating activities showed a significant decline of 56.42%, totaling approximately ¥79.49 million compared to ¥182.38 million in 2022[21]. - Total assets at the end of 2023 reached approximately ¥7.52 billion, marking a 9.30% increase from ¥6.88 billion at the end of 2022[21]. - The company's net assets attributable to shareholders increased by 14.42% to approximately ¥2.19 billion from ¥1.91 billion in 2022[21]. - The company reported a basic earnings per share of ¥0.78, up 1.30% from ¥0.77 in 2022[21]. - The average return on equity decreased to 15.59% in 2023 from 17.67% in 2022, a decline of 2.08%[21]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares to all shareholders, based on a total of 408,664,953 shares[3]. - The total distributable profit at the end of 2023 was 583,634,906.71 CNY, with a cash dividend distribution plan proposing a payout of 1.00 CNY per 10 shares, totaling 40,866,495.30 CNY[149]. - The cash dividend accounted for 12.90% of the net profit attributable to shareholders for the year[149]. - The company has established a shareholder return plan for the years 2022-2024, ensuring clarity and compliance in its cash dividend policy[147]. Business Operations and Strategy - The company is focused on expanding its municipal sanitation engineering projects, which include waste collection, transfer, street cleaning, and solid waste treatment[14]. - The company emphasizes the importance of waste classification to enhance resource value and economic benefits[14]. - The company has a commitment to environmental responsibility and aims to achieve comprehensive treatment and disposal of municipal solid waste[14]. - The company has maintained its core business without any changes since its listing[19]. - The company has maintained its position as the leading urban public utility service provider in terms of new contract amounts for several consecutive years[30]. - The urban management service industry is experiencing stable growth, driven by urbanization and government policies aimed at improving environmental infrastructure[32]. Research and Development - Research and development expenses rose to 43.15 million yuan, a year-on-year increase of 51.84%[38]. - The company has applied for a total of 12 patents across various R&D projects, indicating a strong focus on innovation and technology development[63]. - The company aims to enhance urban management efficiency through the development of smart community management systems and related equipment[63]. - The company is focused on sustainable development with projects aimed at improving water resource utilization and reducing greenhouse gas emissions[63]. - The company is investing in new technology development, allocating 50 million yuan for R&D in the upcoming year[129]. Market Expansion and Subsidiaries - The company has established several new subsidiaries during the reporting period to enhance competitive advantages and market expansion capabilities[86]. - The company aims to accelerate the layout of "smart city services" in 2024, leveraging the "Urban Service Industry Alliance" platform[89]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[124]. - The company has established a new subsidiary focused on smart city solutions, enhancing its technological capabilities in urban management[38]. Corporate Governance - The company has engaged in various investor communication activities, including remote and in-person meetings, to discuss its performance and strategies[96]. - The board of directors consists of 7 members, including 3 independent directors, meeting legal requirements and holding 6 board meetings throughout the year[103]. - The supervisory board, comprising 3 members, held 6 meetings, all in compliance with regulations, overseeing financial reports and management actions[104]. - The independent director system has been established to enhance decision-making and protect minority shareholder interests, with independent directors actively participating in meetings[105]. - The company has implemented anti-corruption measures, including a management system to prevent bribery and ensure compliance with legal standards[108]. Environmental Initiatives - The company is actively engaged in carbon asset development and has initiated a project for recycling discarded clothing to achieve effective carbon reduction[167]. - The company achieved a significant carbon reduction of 670,600 tons through the Li Keng integrated waste incineration power generation project, which processes 1,000 tons of waste daily over a 7x2 year accounting period[168]. - The "Low Carbon Earth Home" mini-program was launched on April 22, 2023, to promote low-carbon behaviors among citizens, rewarding them with points for energy-saving actions[169]. - The company actively promotes green production by integrating environmental protection concepts into all operational aspects, optimizing production processes to reduce energy consumption and emissions[169]. Financial Management - The company has a complete financial accounting system, enabling independent financial decision-making without shared bank accounts with controlling shareholders[111]. - The company has established a sound internal management structure, ensuring independent operational authority[112]. - The company has developed a robust internal control system to ensure compliance and enhance operational efficiency[157]. - The internal control evaluation report indicates that 100% of the total assets and operating income of the evaluated units are included in the company's consolidated financial statements[160]. Employee Welfare and Training - The company has implemented a comprehensive employee welfare program, including financial support for childbirth and education, making it the first in its sector to cover such benefits for frontline sanitation workers[41]. - The total number of employees at the end of the reporting period was 54,854, with 13,320 in the parent company and 41,534 in major subsidiaries[141]. - The company conducted 467 training sessions throughout the year, covering over 22,000 employees, and evaluated 343 personnel in different management levels[144]. - The company has implemented a competitive compensation policy, including fixed salaries, performance bonuses, and various insurance benefits[143].