COOEC(600583)2025-03-17 11:05Financial Performance - The company's operating revenue for 2024 was CNY 2,995,441.59 million, a decrease of 2.59% compared to CNY 3,075,203.75 million in 2023[22]. - The net profit attributable to shareholders for 2024 was CNY 216,139.66 million, representing a 33.38% increase from CNY 162,050.63 million in 2023[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 180,868.61 million, up 46.20% from CNY 123,714.04 million in 2023[22]. - The net cash flow from operating activities for 2024 was CNY 385,024.86 million, a decrease of 24.87% from CNY 512,492.41 million in 2023[22]. - The total assets at the end of 2024 were CNY 4,823,088.27 million, an increase of 11.51% from CNY 4,325,166.35 million at the end of 2023[22]. - The net assets attributable to shareholders at the end of 2024 were CNY 2,626,652.03 million, a 5.94% increase from CNY 2,479,459.37 million at the end of 2023[22]. - The basic earnings per share for 2024 were CNY 0.49, a 32.43% increase from CNY 0.37 in 2023[23]. - The diluted earnings per share for 2024 were also CNY 0.49, reflecting the same growth rate of 32.43% compared to 2023[23]. - The weighted average return on equity for 2024 was 8.47%, an increase of 1.80 percentage points from 6.67% in 2023[23]. Market and Project Development - The company secured a market contract amount of 30.244 billion RMB in 2024, with a backlog of orders approximately 40 billion RMB, providing strong support for future market development[33]. - The company completed 73 large-scale engineering projects in 2024, with 34 projects finished within the year, and processed 453,900 tons of steel, a decrease of 3.83% year-on-year[30]. - The company successfully delivered the largest single-unit booster station in China and completed the construction of the world's largest 270,000 cubic meter LNG storage tank, showcasing its leading technology in LNG storage[31]. - The company secured new contracts for the Qatar RUYA EPCI 09 and Saudi CRPO149&152 projects, marking significant progress in its Middle East development strategy[34]. - The company signed the SHWE gas field Phase IV development contract, demonstrating its capability in deepwater construction over 1000 meters, gaining international owner recognition[34]. Research and Development - The company invested CNY 41.71 million in environmental protection during the reporting period, demonstrating its commitment to sustainability[157]. - Research and development expenses increased by 3.46% to 1.23 billion RMB, reflecting the company's commitment to technological innovation[58]. - The company has allocated 500 million RMB for research and development in the upcoming year, focusing on sustainable energy solutions[126]. - The company employed 1,878 R&D personnel, representing 19.12% of the total workforce, with a focus on enhancing technological innovation in strategic emerging industries[78]. - The company has implemented a differentiated incentive mechanism for research personnel to enhance innovation and support high-quality development[140]. Sustainability and Environmental Initiatives - The company is committed to providing low-carbon engineering solutions for offshore oil and gas development, focusing on reducing CO2 and methane emissions through innovative development plans[106]. - The company achieved a carbon reduction of 10,120 tons through various measures, including the use of clean energy and upgrading old high-energy-consuming equipment[197]. - The company’s photovoltaic project in Zhuhai has a capacity of 9.3 MW, expected to generate 9.5 million kWh of green electricity annually, reducing CO2 emissions by 3,675 tons[196]. - The company’s green electricity usage reached 41.66 million kWh in 2024, accounting for 26.9% of total electricity consumption, leading to a carbon reduction of 29,000 tons[198]. - The company has established a new energy management system, based on ISO 50001 standards, to enhance energy management and support green transformation[196]. Governance and Management - The company has established a comprehensive governance framework, consisting of 38 governance documents to ensure compliance with laws and regulations[111]. - The company held two shareholder meetings in 2024, approving nine key proposals including the 2023 annual report and profit distribution plan[114]. - The board of directors conducted five meetings in 2024, reviewing 50 important matters including financial budgets and investment plans[115]. - The total remuneration for all directors, supervisors, and senior management was 9.37 million RMB[129]. - The company has implemented a performance-based compensation system, with a focus on differentiated incentives for key personnel to enhance motivation and support international market expansion[139]. Employee Development and Training - The total number of employees in the parent company is 5,543, and the total number of employees in major subsidiaries is 4,281, resulting in a combined total of 9,824 employees[138]. - The company conducted 9,021 training sessions in 2024, with a total of 390,200 training participants and total training hours reaching 2,459,500 hours, averaging 256.25 hours per employee[141]. - The company has a total of 4,786 technical personnel, which constitutes approximately 48.8% of the total workforce, highlighting its emphasis on technical expertise[138]. Financial Strategy and Future Outlook - Future outlook suggests a projected revenue growth of 10% for 2025, driven by new project acquisitions and market expansion strategies[124]. - The company plans to enhance its digital infrastructure, with an investment of 500 million RMB to improve customer experience and operational efficiency[124]. - The company plans to implement a "quality improvement and efficiency return" action plan in 2025[133]. - The company is focusing on expanding into new markets such as floating wind power, CCS/CCUS, hydrogen energy, and offshore photovoltaics, transitioning from traditional oil and gas operations to emerging industries[100]. - The company aims to strengthen its total contracting capabilities in the LNG industry chain, actively expanding into high-end business areas such as FSRU and FLNG[106].