Core Viewpoint - Xinjiang Haoyuan has reported a historical high in revenue and net profit for 2024, alongside a change in its controlling shareholder, which has resolved previous financial issues [2][5]. Financial Performance - The company achieved an operating income of 702 million yuan, a year-on-year increase of 5.14% [2] - The net profit attributable to shareholders was 93.18 million yuan [2] - The net assets attributable to shareholders reached 1.332 billion yuan, reflecting a growth of 70.13% [2] Business Operations - Xinjiang Haoyuan specializes in natural gas transmission, distribution, and installation, sourcing gas from PetroChina [2] - The company has a 30-year exclusive operating right for urban gas in its service areas, benefiting from the steady economic development and urbanization in Xinjiang [3] - In 2024, the company completed 19,331 household installations, a 65.80% increase from 2023, with installation revenue rising by 88.65% [3] Infrastructure and Resource Advantage - The company operates a 148-kilometer long-distance gas pipeline, which has reduced operational costs and provided a unique resource advantage in the region [4] - Xinjiang Haoyuan has established a total of 148.48 kilometers of long-distance pipelines and 463.68 kilometers of urban high and medium-pressure pipelines [4] - The company serves approximately 233,200 residential users and 4,200 commercial users [4] Future Outlook - The company plans to leverage China's carbon neutrality goals to expand its natural gas user base and enhance operational efficiency [6] - Xinjiang Haoyuan aims to diversify its business model and explore value-added gas services [6] Dividend Distribution - The company has proposed a cash dividend of 0.66 yuan per 10 shares to all shareholders [7]