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燃气行业董秘观察:成都燃气郭诚薪酬为85万元较前一年翻2倍
Xin Lang Cai Jing· 2025-08-11 09:05
Core Insights - The report highlights that in 2024, the total salary for A-share listed company secretaries reached 4.086 billion yuan, with an average annual salary of 708,000 yuan [1] - Over 21% of company secretaries earned over 1 million yuan in 2024 [1] Salary Overview - The average salary for company secretaries in the public utility-gas II industry is approximately 862,700 yuan, with the highest salary being 2,001,000 yuan for Zhao Fei from Dazhong Public Utilities [1] - The lowest salary recorded was 28,000 yuan for Song Hai from Shengtong Energy [1] - Compared to 2023, the average salary increased by 111,000 yuan, representing a 27% rise [1] Salary Changes - Chengdu Gas's Guo Cheng saw the largest salary increase, with a 201% rise from 28,350 yuan in 2023 to 852,700 yuan in 2024 [1] Demographics - The average age of company secretaries is 46.8 years, with the majority (43%) aged between 50-59 years [1] - The oldest company secretary is Bi Wei from Shaanxi Natural Gas, aged 57, earning 565,600 yuan in 2024 [1] Educational Background - The distribution of educational qualifications among company secretaries includes 12 with master's degrees, 17 with bachelor's degrees, and 1 with an associate degree, with average salaries of 1,070,900 yuan, 718,700 yuan, and 813,400 yuan respectively [1] - The lowest salary among master's degree holders is 480,000 yuan for Zhou Jing from Dongfang Huanyu [1]
燃气行业董秘观察:成都燃气郭诚薪酬为85万元 较前一年翻2倍
Xin Lang Zheng Quan· 2025-08-11 07:35
Core Insights - The total salary of A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - Over 21% of secretaries earned more than 1 million yuan in 2024 [1] - The average salary increased by 27% compared to 2023, with the highest salary being 2,001,000 yuan [3] Salary Distribution - The average salary for secretaries in the public utility-gas II industry was approximately 862,700 yuan [1] - The majority of secretaries (60%) earned between 500,000 and 1 million yuan, totaling 18 individuals [1] - The highest salary was recorded for Zhao Fei from Dazhong Public Utility at 2,001,000 yuan, while the lowest was for Song Haizhen from Shengtong Energy at 297,700 yuan [1] Salary Changes - The average salary in 2024 increased by 111,000 yuan compared to 2023 [3] - The largest salary increase was observed for Guo Cheng from Chengdu Gas, whose salary rose by 201% from 283,500 yuan in 2023 to 852,700 yuan in 2024 [3] Age Structure - The average age of secretaries is approximately 46.8 years, with the largest age group being 50-59 years, accounting for about 43% [3] - The oldest secretary is Bi Wei from Shaanxi Natural Gas, aged 57, earning 565,600 yuan in 2024 [3] - The youngest secretary is Song Haizhen from Shengtong Energy, aged 42, with a salary of 297,700 yuan [3] Educational Background - The distribution of secretaries by education level includes 12 with master's degrees, 17 with bachelor's degrees, and 1 with a college diploma [5] - Average salaries for secretaries by education level are 1,070,900 yuan for master's, 718,700 yuan for bachelor's, and 813,400 yuan for college diploma holders [5] - The lowest salary among master's degree holders is 447,700 yuan for Zhou Jing from Dongfang Huanyu [5]
燃气行业董秘观察:陕天然气毕卫年龄57岁为最年长 薪酬为57万元
Xin Lang Zheng Quan· 2025-08-11 07:35
专题:专题|2024年度A股董秘数据报告:1144位董秘年薪超百万 占比超21% 从学历分布来看,硕士、本科、大专分别为12人、17人、1人,对应平均薪酬分别为107.09万元、71.87 万元、81.34万元。在硕士学历的董秘中,东方环宇周静为薪酬最低,2024年薪酬为44.77 万元。学历最 低为特瑞斯王粉萍,大专学历,2024年薪酬为81.34万元。 责任编辑:公司观察 从薪酬变化情况来看,2024年薪酬较2023年平均上涨11.1万元,平均涨幅为27%。成都燃气郭诚2024年 薪酬为85.27万元,较2023年薪酬28.35万元上涨201%,为薪酬涨幅最大。 从年龄结构来看,董秘的年龄平均数约为46.8岁,其中50-59岁最多,人数共13人,占比约43%。其中, 年龄最大的为陕天然气毕卫,年龄为57岁,2024年薪酬为56.56 万元;年龄最小的为胜通能源宋海贞, 年龄为42岁,2024年薪酬为29.77 万元,同为行业内薪资最少。 董秘作为连接投资者与上市公司的"桥梁",在上市公司资本运作中发挥着关键作用。新浪财经《2024年 度A股董秘数据报告》显示,2024年A股上市公司董秘薪酬合计达40.86 ...
复盘供给侧改革:“反内卷”如何催生产能出清主升浪
Changjiang Securities· 2025-07-09 15:23
Group 1 - The report emphasizes the need to regulate low-price disorderly competition among enterprises and promote the orderly exit of backward production capacity, aiming to address the issue of "involution" in market competition [2][8] - Historical cases show that supply-side clearance driven by policy typically begins with market expectations, while the main upward trend requires improvements in industry structure to support cash flow and balance sheet recovery [8][10] - The current round of overcapacity is primarily concentrated in mid- and downstream industries, unlike the previous cycle which was focused on upstream resource sectors [9][10] Group 2 - The report suggests focusing on two main strategies: industries that have experienced prolonged supply-side clearance and are likely to see improvements in supply-demand dynamics, and industries that may benefit from policy-driven accelerated clearance [10][11] - For natural clearance, the report recommends monitoring demand-side indicators for upstream industries and supply-side indicators for mid- and downstream sectors, highlighting sectors such as agricultural chemicals, general machinery, pharmaceuticals, and components [10] - For policy-driven clearance, attention should be given to industries mentioned in recent policies aimed at addressing "involution," including photovoltaic, lithium batteries, automobiles, and cement [10][17]
6月30日早间重要公告一览
Xi Niu Cai Jing· 2025-06-30 04:00
Group 1 - Fengcai Technology is conducting an H-share issuance with a maximum price of 120.50 HKD per share, aiming to raise funds for its specialized chip business [1] - The global offering consists of 16.3 million shares, with 1.63 million shares available for public offering in Hong Kong [1] - Zijin Mining plans to acquire the Raygorodok gold mine project in Kazakhstan for 1.2 billion USD, enhancing its resource portfolio [1][2] Group 2 - Mindray Medical's shareholder plans to reduce holdings by up to 5 million shares, approximately 0.41% of the total share capital, due to personal funding needs [3] - Degute is planning to acquire control of Haowei Technology through a combination of cash and share issuance, leading to a temporary suspension of its stock [4] - New Dairy's controlling shareholder intends to reduce its stake by up to 3% of the total share capital, also for funding purposes [5] Group 3 - Yueyang Xinchang has resumed production after completing maintenance on its main production facilities, positively impacting its operations [6] - Chengdu Xian Dao has terminated its major asset restructuring plan due to failure to reach agreement on key terms [7] - Maglev Technology's shareholder plans to reduce its stake by up to 3% of the total share capital for personal financial arrangements [9] Group 4 - Zhongyan Dadi announced a cash dividend of 2.82 CNY per 10 shares and a capital increase of 3.99 shares per 10 shares [10] - Yunda Co. plans to distribute a cash dividend of 0.6 CNY per 10 shares, totaling approximately 47.22 million CNY [12] - Victory Co. intends to distribute a cash dividend of 0.42 CNY per 10 shares, amounting to around 36.06 million CNY [13] Group 5 - Shagang Group has invested 2.67 billion CNY in financial products while planning to use up to 8 billion CNY of idle funds for further investments [14] - Jiuyuan Yinhai's subsidiary won an 8.43 million CNY project contract, constituting a related party transaction [15] - China Railway Signal & Communication has announced the resignation of a board member due to personal reasons [16] Group 6 - China Rare Earth clarified that recent management changes have not affected its operations, ensuring stability in production [17] - Qixiang Tengda plans to conduct routine maintenance on its 60,000-ton acetone plant for 60 days to enhance operational safety [19] - ST King Kong's subsidiary signed a 399 million CNY contract for computing power services, indicating growth in its service offerings [20] Group 7 - Ziguang Guowei repurchased 775,500 shares for approximately 49.62 million CNY, reflecting confidence in its market position [22] - Qin Port's major shareholder plans to reduce its stake by up to 2% of the total share capital for development needs [22] - Longqi Technology has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange, expanding its market presence [24]
5月27日晚间重要公告一览
Xi Niu Cai Jing· 2025-05-27 10:16
Group 1 - Guangdian Electric's wholly-owned subsidiary plans to sell 5.91% stake in Shanghai Winshun Electric Technology Co., Ltd. to Yapp Automotive Parts Co., Ltd. for 62.63 million yuan, aiming to optimize asset structure [1] - Anhui Natural Gas received approval for the registration of 500 million yuan short-term financing bonds and 600 million yuan medium-term notes, valid for two years [1] - Kirin Security received government subsidies totaling 6.48 million yuan, which are related to revenue [2] Group 2 - Junshi Biosciences received approval for two new indications for its self-developed drug, Oncorhynchus monoclonal antibody injection, targeting adult patients with heterozygous familial hypercholesterolemia and non-familial hypercholesterolemia [3] - China Resources Double Crane's subsidiary passed GMP compliance inspection for small and large volume injection production lines [4] - Nanjing Public Utilities' board approved the absorption and merger of its wholly-owned subsidiary, Nanjing Jinguang Industry Co., Ltd. [7] Group 3 - Boya Bio received drug registration certificate for human immunoglobulin (pH4) in the Dominican Republic, valid until August 12, 2029 [8] - Jizhi Co. announced that its controlling shareholder and actual controller committed not to reduce their shareholdings until December 31, 2025 [9] - Yuhua Tian won a bid for the integrated urban management project in Lanzhou City, with a total service subsidy of 353 million yuan [10] Group 4 - Anke Rui obtained five invention patent certificates related to various energy management and control technologies [11] - Kebo Da's wholly-owned subsidiary plans to acquire 100% of Czech IMI Company for approximately 9.43 million euros to enhance global production layout [13] - Yantian Port announced a cash dividend of 1.30 yuan per 10 shares, totaling 676 million yuan [14] Group 5 - Huawang Technology plans to distribute a cash dividend of 0.45 yuan per share and a capital reserve increase of 0.20 shares per share [15] - Kabe Yi established a wholly-owned subsidiary in Japan to enhance its business layout [16] - Dongcheng Pharmaceutical's subsidiary received approval for the marketing of sodium fluoride injection, a PET radiopharmaceutical [18] Group 6 - Huaxin New Materials' subsidiary received two utility model patent certificates for innovative devices [19] - Lingang Steel's new 2290 cubic meter blast furnace has been successfully put into operation [21] - Xinlitai received drug registration certificate for Sacubitril/Valsartan tablets, the first of its kind in China [23] Group 7 - Aike Co.'s subsidiary received project designation notices from multiple clients for electric drive platform components [25] - Tonghe Pharmaceutical received drug registration certificate for Apixaban in South Korea [26] - Junting Hotel signed a cooperation agreement with Choice Hotels for exclusive brand usage in mainland China [28] Group 8 - Guangdong Hongtu plans to establish a wholly-owned subsidiary in Zhengzhou to enhance market layout [30] - Yuheng Pharmaceutical signed a joint promotion agreement for Pemafibrate tablets with Xinghe Pharmaceutical [31] - Chongqing Steel terminated the absorption and merger of its wholly-owned subsidiary, citing strategic advantages of independent operation [33] Group 9 - Jihong Co. announced the listing of its H-shares on the Hong Kong Stock Exchange [34] - Deshi Co. announced plans for shareholders to reduce their holdings by up to 0.3% [36] - Xinhai Medical's subsidiary received medical device registration for a dialysis fluid filter [42]
深圳燃气(601139):城燃主业量价齐升综合能源拖累业绩
Hua Yuan Zheng Quan· 2025-04-29 09:51
Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's core business in urban gas is experiencing both volume and price increases, while comprehensive energy services are dragging down overall performance [5] - The company reported a revenue of 28.35 billion yuan in 2024, a year-on-year decline of 8.34%, with a net profit attributable to shareholders of 1.46 billion yuan, a slight increase of 1.19% [7] - The first quarter of 2025 saw a revenue of 7.51 billion yuan, a year-on-year increase of 9.48%, but net profit decreased by 15.47% due to reduced profits from smart services and comprehensive energy businesses [7] Financial Performance Summary - The company’s revenue and profit forecasts for 2025-2027 are as follows: - Revenue: 28.48 billion yuan in 2025, 29.02 billion yuan in 2026, and 29.84 billion yuan in 2027, with growth rates of 0.45%, 1.92%, and 2.83% respectively [6] - Net profit: 1.56 billion yuan in 2025, 1.73 billion yuan in 2026, and 2.06 billion yuan in 2027, with growth rates of 6.73%, 11.51%, and 18.55% respectively [6] - Earnings per share (EPS) are projected to be 0.54 yuan in 2025, 0.60 yuan in 2026, and 0.71 yuan in 2027 [6] Business Segment Analysis - Urban gas sales volume reached 4.98 billion cubic meters in 2024, a year-on-year increase of 2.78%, with significant growth in the Greater Bay Area [7] - The comprehensive energy segment's revenue fell by 27.01% in 2024, primarily due to declining sales prices of photovoltaic films [7] - The company has signed a long-term gas supply agreement with PetroChina for 9.69 billion cubic meters, enhancing its gas supply capabilities [7] Valuation Metrics - The price-to-earnings (P/E) ratio is projected to be 12.69 for 2025, decreasing to 9.00 by 2027 [9] - The return on equity (ROE) is expected to stabilize around 9.36% for 2025 and increase to 10.74% by 2027 [9]
陕天然气(002267):24年业绩同比+33%符合预期,分红稳步提升
Tianfeng Securities· 2025-04-29 07:49
Investment Rating - The investment rating for the company is "Buy" with a target price not specified [5] Core Views - The company's revenue for 2024 is projected to be 9.033 billion yuan, representing a year-on-year increase of 15.62%, while the net profit attributable to shareholders is expected to reach 724 million yuan, up 33.01% year-on-year [1] - The company has a dividend payout ratio of 69.12% for 2024, which is an increase of 7.83 percentage points compared to the previous year [1] - The natural gas transmission volume has increased significantly, reaching 13.017 billion cubic meters, a year-on-year growth of 20.26% [2] - The gross margin for the long-distance pipeline segment improved to 19.77%, up 3.63 percentage points year-on-year, while the urban gas segment's gross margin decreased to 7.3%, down 1.17 percentage points [2] Financial Performance - The company's revenue for 2024 is expected to be 9.033 billion yuan, with a growth rate of 19.57% in 2025 and 10.58% in 2026 [4] - The net profit attributable to shareholders is forecasted to be 907.53 million yuan in 2025, with a growth rate of 25.36% [4] - Earnings per share (EPS) are projected to be 0.82 yuan in 2025, 0.92 yuan in 2026, and 1.00 yuan in 2027 [4] - The price-to-earnings (P/E) ratio is expected to be 10.32 in 2025, 9.16 in 2026, and 8.39 in 2027 [4] Industry Context - The national long-distance natural gas pipeline construction is progressing rapidly, with over 4,000 kilometers expected to be completed in 2024 [3] - The company is accelerating the construction of pipelines within Shaanxi province to meet the increasing natural gas consumption [3]
九丰能源:顺价能力久经考验,特种气体或存惊喜,股息率5.5%-20250418
GOLDEN SUN SECURITIES· 2025-04-18 10:23
Investment Rating - The investment rating for the company is "Buy (Maintain)" [5] Core Views - The company has demonstrated strong pricing power, with special gases potentially offering surprises, and a dividend yield of 5.5% [10] - The company reported a revenue of 22.05 billion yuan for 2024, a year-on-year decrease of 17.01%, while the net profit attributable to shareholders increased by 28.93% to 1.684 billion yuan [1][10] - The company is actively expanding its clean energy business and has a robust asset advantage in energy operations and logistics [2][3] Revenue and Profitability - In Q4 2024, the company achieved a revenue of 4.999 billion yuan, down 28.86% year-on-year, with a net profit of 149 million yuan, a decrease of 14.78% [1] - For Q1 2025, the company reported a revenue of 5.484 billion yuan, down 13.41% year-on-year, and a net profit of 506 million yuan, up 5.40% [1] Business Segments - The special gases business saw rapid growth, with production and sales of 8,805 million cubic meters in 2024, a year-on-year increase of 66.5% [4] - The LNG business produced and sold 2.58 million tons in 2024, with a year-on-year increase of 11.1% in production and 12.8% in sales [10] - The LPG business experienced a slight decline, with production and sales of 1.85 million tons, down 3.5% and 3.7% respectively [10] Financial Metrics - The company plans to distribute a total cash dividend of 780 million yuan for 2024, which includes a special cash dividend of 30 million yuan, representing approximately 52% of the net profit attributable to shareholders [10] - The projected net profit for 2025-2027 is estimated at 1.78 billion, 1.99 billion, and 2.18 billion yuan respectively, with corresponding P/E ratios of 9.0X, 8.1X, and 7.4X [10][11]
华润燃气(01193):暖冬及地产影响下业绩承压红利逻辑逐步兑现
Hua Yuan Zheng Quan· 2025-03-31 08:53
Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's performance is under pressure due to a warm winter and impacts from the real estate sector, but the dividend logic is gradually being realized [5] - The company reported a revenue of HKD 102.68 billion for 2024, a year-on-year increase of 1.4%, and a net profit of HKD 4.09 billion, a decrease of 21.7% compared to the previous year, which was below market expectations [7] - The company plans to distribute a dividend of HKD 0.95 per share for 2024, with the cash dividend amounting to 52.71% of the net profit [7] Financial Performance Summary - Revenue projections for the company are as follows: - 2023: HKD 101.27 billion - 2024: HKD 102.68 billion - 2025E: HKD 105.54 billion - 2026E: HKD 108.01 billion - 2027E: HKD 110.57 billion - Net profit projections are as follows: - 2023: HKD 5.22 billion - 2024: HKD 4.09 billion - 2025E: HKD 4.72 billion - 2026E: HKD 5.51 billion - 2027E: HKD 6.19 billion - The company’s earnings per share (EPS) for 2025 is projected to be HKD 2.04, with a price-to-earnings (P/E) ratio of 14 [6][8] Operational Insights - Retail gas sales volume for 2024 is expected to reach 39.91 billion cubic meters, a year-on-year increase of 2.9%, with residential, industrial, and commercial sales volumes growing by 6.3%, 1.5%, and 3.8% respectively [7] - The company’s connection profit continues to shrink, with a reduction in new residential connections by 620,000 to 2.693 million, leading to a decline in connection business profits [7] - The company’s capital expenditure for 2024 is projected at HKD 4.42 billion, a decrease of HKD 3.47 billion year-on-year, contributing to an improvement in free cash flow [7] Future Outlook - The company is expected to see a rebound in performance as the real estate market stabilizes, with a focus on optimizing its gas sales business and improving profitability [7] - The long-term downward trend in gas prices is anticipated to enhance cost efficiency, with the company signing a 15-year LNG supply agreement starting in 2027 [7]