SPNG(002267)2025-04-28 13:40Financial Performance - The company's operating revenue for 2024 reached ¥9,033,178,190, representing a 15.62% increase compared to ¥7,554,985,910 in 2023[18]. - Net profit attributable to shareholders for 2024 was ¥723,965,652, a 33.01% increase from ¥544,292,536 in 2023[18]. - The net cash flow from operating activities increased by 61.01% to ¥1,400,636,287 in 2024, up from ¥919,761,432 in 2023[18]. - Basic and diluted earnings per share for 2024 were both ¥0.6510, reflecting a 33.02% increase from ¥0.4894 in 2023[18]. - Total assets at the end of 2024 were ¥14,648,598,698, a 4.18% increase from ¥12,816,432,101 at the end of 2023[19]. - The net assets attributable to shareholders decreased by 15.92% to ¥6,426,804,560 at the end of 2024, down from ¥7,644,124,560 at the end of 2023[19]. - The company reported a total of ¥132,547,944 in non-recurring gains for 2024, compared to ¥58,824,097 in 2023[24]. - Main business revenue amounted to 8,980,839,460.34 yuan, up 16.20% compared to the previous year[36]. - The cost of main business increased to 7,656,777,938.53 yuan, reflecting a 13.53% rise year-on-year[36]. - The cash and cash equivalents net increase was 298,175,267.72 yuan, a significant increase of 208.81% year-on-year[36]. Dividend Distribution - The company plans to distribute a cash dividend of 3.50 CNY per 10 shares to all shareholders, based on a total of 1,112,075,445 shares[4]. - The total cash dividend for the reporting period amounts to 389,226,405.75 RMB, representing 100% of the total profit distribution[144]. - The mid-year cash dividend for 2024 is set at 1.00 RMB per 10 shares, totaling 111,207,544.50 RMB, approved on October 15, 2024[143]. - The total cash dividend for the year, including the interim dividend of 111,207,544.50 CNY, amounts to 500,433,950.25 CNY[146]. Business Operations and Strategy - The company has not reported any changes in its main business operations since its listing[16]. - The company is actively expanding its natural gas pipeline infrastructure in Shaanxi Province, with significant projects underway to enhance gas delivery capabilities[28]. - The company operates a natural gas long-distance pipeline network with a total length of 4,569 kilometers and an annual gas transmission capacity of 17 billion cubic meters, covering 10 cities in Shaanxi Province[30]. - The company has established 8 wholly-owned urban gas enterprises, laying over 4,800 kilometers of urban gas pipelines and serving 820,000 users, with value-added services generating annual revenue exceeding 100 million yuan[30]. - The company is focused on integrating and restructuring with other significant natural gas operators within the province to enhance market competitiveness and profitability[86]. - The company plans to expand its market presence through mergers and acquisitions, targeting both regional and national markets[82]. Technological Advancements - The company has achieved significant technological advancements, including the development of a smart natural gas energy measurement platform and the establishment of a remote monitoring system for pipeline cathodic protection[32]. - The company is actively involved in research on hydrogen blending technology for natural gas pipelines, preparing for a green transition and high-quality development[32]. - The company is focusing on technological advancements and new product development to improve service delivery and customer satisfaction[122]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has ensured that all board members attended the meeting to review the annual report[4]. - The company has established a comprehensive governance structure, including a strategic committee, audit committee, compensation and assessment committee, and nomination committee[93]. - The company has committed to improving governance structures and internal control systems to ensure compliance with regulatory requirements[91]. - The company has maintained a stable management team with no resignations or dismissals reported during the current term[103]. - The company has not faced any penalties from securities regulatory authorities in the past three years, highlighting its compliance and governance standards[124]. Market Outlook and Risks - The company faces risks related to potential adjustments in natural gas pipeline transportation prices, which may impact short-term profits[84]. - Increased market competition is anticipated due to ongoing reforms in the oil and gas sector, leading to more diverse gas source options for downstream users[85]. - The natural gas market is expected to grow due to favorable policies and the ongoing transition to cleaner energy sources[82]. Legal Matters - The company is involved in a lawsuit regarding construction fees amounting to 10.45 million RMB, with an appeal filed against a lower court's decision[173]. - The company has ongoing arbitration cases related to various construction projects, including a claim for 5,406.23 million yuan for the Central Shaanxi Gas Peak Shaving Pipeline project[174]. - The company has been ordered by the Xi'an Court to pay a total of 13,719,288.74 yuan in project payments and interest to Shengli Oil Construction Co., Ltd. as part of a legal decision[174]. Employee Management - The total number of employees at the end of the reporting period is 2,508, with 1,428 in the parent company and 1,080 in major subsidiaries[137]. - The company has implemented a dynamic salary adjustment mechanism to align employee wages with economic development and operational performance[139]. - The company has completed the first phase of its employee training program, focusing on awareness and self-management, with further phases planned[140].