ZPEC(SH:603619)2024-04-29 12:47Financial Performance - The net profit attributable to the parent company's shareholders for 2023 was RMB 809,876,042.15, with cumulative distributable profits amounting to RMB 539,493,185.71 as of December 31, 2023[6]. - The proposed cash dividend is RMB 6.20 per 10 shares (including tax), with a total distribution amounting to RMB 245,598,926.00 based on 396,127,300 shares[6]. - The company's revenue for 2023 reached ¥3,731,947,652.17, representing a 16.67% increase compared to ¥3,198,733,773.68 in 2022[24]. - Net profit attributable to shareholders for 2023 was ¥809,876,042.15, a significant increase of 67.88% from ¥482,420,334.84 in 2022[25]. - The basic earnings per share for 2023 was ¥2.05, up 69.42% from ¥1.21 in 2022[28]. - The company reported a weighted average return on equity of 29.19% for 2023, an increase of 8.07 percentage points from 21.12% in 2022[28]. - The total assets of the company at the end of 2023 were ¥9,132,374,884.54, a 17.44% increase from ¥7,776,348,629.85 in 2022[27]. - The company's net assets attributable to shareholders at the end of 2023 were ¥2,629,156,481.86, a 14.26% increase from ¥2,300,958,512.49 in 2022[26]. - The company reported a net profit of ¥845,792,604.65 after excluding non-recurring gains and losses, which is a 60.70% increase from ¥526,330,658.05 in 2022[25]. - The company achieved a total revenue of RMB 373,194.77 million in 2023, an increase of RMB 53,321.39 million or 16.67% compared to 2022[69]. Operational Highlights - The company completed the acquisition of Rising Energy International Middle East DMCC, gaining a 53.5872% interest in the Gengke Oilfield[28]. - The company’s oil production from the Wensu project reached 580,800 tons, an increase of 146,800 tons year-on-year, representing a growth of 33.82%[43]. - The drilling engineering segment operated 56 drilling rigs with a utilization rate exceeding 90%, signing 41 contracts with a total value of 3.399 billion yuan, a year-on-year increase of 26.50%[45]. - The equipment manufacturing segment signed 158 contracts for equipment sales and drilling rentals, with a total value of 336 million yuan, reflecting a growth of 69.70% year-on-year[46]. - The company made significant progress in exploration, with the Kekeya oilfield achieving major geological reserves and the Nanhua oil and gas exploration yielding high production flows[42]. - The company is expanding its market presence in the Middle East and Africa, gaining access to several state-owned oil companies as qualified suppliers[47]. - The exploration and development segment reported a high success rate of 89.66% for exploratory wells[56]. - The company has expanded its overseas drilling engineering market to multiple countries along the Belt and Road, including the Middle East and North Africa[58]. Risk Management - The report includes a risk statement regarding potential risks faced by the company, which can be found in the management discussion section[9]. - The company aims to improve risk control and reasonable layout in upstream exploration and development through overseas acquisitions and bidding for quality blocks[56]. - The oil industry is facing cyclical risks due to fluctuations in oil prices influenced by macroeconomic conditions and geopolitical factors, which could impact investment and profitability[134]. - Financial risks include exchange rate fluctuations affecting overseas projects, which could lead to significant currency risk[136]. - Environmental policies and the shift towards sustainable energy present risks that could adversely affect the company's business and profitability[139]. Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[143]. - The supervisory board has 3 members, including 2 employee representatives, ensuring compliance with laws and regulations[144]. - The company has established information disclosure management systems to ensure transparency and timely communication with investors[144]. - The internal control system has been improved to enhance corporate governance and protect shareholder interests[144]. - The company has maintained compliance with relevant laws and regulations regarding corporate governance, with no significant discrepancies noted[145]. Research and Development - The company has obtained 345 valid patents, including 37 invention patents, demonstrating strong research and development capabilities[65]. - Research and development expenses increased during the reporting period, indicating a focus on innovation and new technology[72]. - The company invested 13.937 million yuan in environmental protection during the reporting period[194]. Employee Development - The total number of employees in the parent company and major subsidiaries is 2,739, with 1,963 in production roles[171]. - The company conducted 154 training sessions covering 480 courses, achieving a completion rate of 95.20%[173]. - The company has a three-year training plan for new employees, focusing on soft skills and technical abilities[174]. - The company plans to prioritize the training and development of university graduates, integrating capability assessments with training programs[132]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[39]. - The company aims to increase reserves and production while reducing oil costs and improving investment returns through precise exploration and acquisitions[120]. - The company plans to accelerate the pace of oilfield exploration and development, targeting stable growth in oil and gas production[125]. - The company anticipates that international oil prices will remain high, providing opportunities for growth and development[125].