Jereh Group(002353)2024-04-02 16:00Financial Performance - The company's operating revenue for 2023 was ¥13,912,093,668.10, representing a 21.94% increase compared to ¥11,409,012,145.44 in 2022[15]. - The net profit attributable to shareholders for 2023 was ¥2,454,377,699.43, a 9.33% increase from ¥2,244,949,636.01 in 2022[15]. - The net profit excluding non-recurring gains and losses for 2023 was ¥2,386,687,958.86, up 12.27% from ¥2,125,853,888.23 in 2022[15]. - The net cash flow from operating activities for 2023 was ¥1,048,774,539.31, a 4.06% increase from ¥1,007,867,907.21 in 2022[15]. - The total assets at the end of 2023 were ¥31,776,572,493.51, an 8.73% increase from ¥29,225,829,417.05 at the end of 2022[15]. - The net assets attributable to shareholders at the end of 2023 were ¥19,321,272,001.38, an 11.90% increase from ¥17,266,314,727.44 at the end of 2022[15]. - The company achieved total revenue of 1,391,209.37 million yuan, a year-on-year increase of 21.94%[32]. - The net profit attributable to shareholders was 245,437.77 million yuan, reflecting a year-on-year growth of 9.33%[32]. - The company reported a significant increase in oil and gas exploration and development investment in China, amounting to approximately ¥390 billion, a 10% increase year-on-year[23]. Shareholder Returns - The total share capital as of December 31, 2023, is 1,023,855,833 shares, with a cash dividend of 4.9 RMB per 10 shares proposed for distribution[4]. - The company has a total of 1,021,016,177 shares eligible for dividend distribution after excluding shares held in the repurchase account[4]. - The company distributed a cash dividend of 4.9 CNY per 10 shares, totaling 500,297,926.73 CNY (including tax) to shareholders[101]. - The profit distribution plan for 2023 includes cash dividends based on a total share capital of 1,023,855,833 shares, excluding 2,839,656 shares held in the company's repurchase account[100]. Risk Management - The company reported significant risks including fluctuations in oil and gas prices, intensified market competition, and the development of low-carbon energy systems[3]. - The company emphasizes the importance of investor awareness regarding the uncertainties associated with forward-looking statements and potential risks[3]. - The company has outlined its future development outlook, which includes addressing various risk factors that could impact its operations[3]. - The company acknowledges risks from fluctuating oil and gas prices, which could impact its service demand, and is actively exploring opportunities in the renewable energy sector to mitigate these risks[94]. - The company faces international operational risks due to geopolitical instability and currency fluctuations, which could affect its overseas business performance[95]. Technological Innovation - The company has a strong commitment to environmental responsibility, focusing on technologies related to oil sludge treatment and soil remediation[7]. - The company has a total of 1,825 valid authorized patents, including 354 invention patents, with 169 new invention patents granted during the reporting period[30]. - The company successfully developed and applied the world's first electric-driven intelligent continuous tubing equipment, marking a significant advancement in zero-carbon technology[36]. - The company’s R&D efforts in high-end equipment led to the successful application of the world's first continuous working 8000 electric-driven fracturing unit, achieving a flow rate of 3.4 cubic meters per minute[36]. - The company is currently developing high-performance surface-coated artificial graphite anode materials, enhancing its competitiveness in the high energy density market[51]. - The company is also working on a high-capacity, high-density, fast-charging artificial graphite product, which is expected to significantly improve profit margins upon mass production[51]. Market Expansion - The company plans to expand into lithium battery anode materials and resource recycling related to new energy industries[23]. - The company achieved a breakthrough in the North American market with the sale and delivery of the second 35MW gas turbine generator set, establishing a solid foundation for high-end power generation business[34]. - The company plans to invest $120 million to enhance its Middle East subsidiary, establishing a new production and office base in Dubai to strengthen its brand presence and resource allocation in the region[88]. - The company aims to increase its overseas market revenue share, focusing on innovation and breakthroughs in the oil and gas sector, while optimizing its customer structure and competitive environment[89]. Environmental Responsibility - The company has a strong focus on environmental protection, with compliance to various environmental protection laws and standards during its daily operations[161]. - The company has implemented a comprehensive air pollution control system, including low-nitrogen combustion technology for its natural gas boilers[170]. - The company achieved compliance with wastewater discharge standards for industrial and domestic wastewater through processes like biological degradation and advanced oxidation[171]. - The company reported a total hazardous waste generation of 28.807 tons in 2023, all of which was disposed of by qualified hazardous waste disposal companies[168]. - The company has established a chromium wastewater treatment system and a water reuse treatment system to manage wastewater effectively[168]. Corporate Governance - The company has established a complete internal governance structure, including a shareholder meeting, board of directors, and supervisory board, in compliance with relevant laws and regulations[108]. - The company has maintained independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a clear delineation of ownership and operational capabilities[109]. - The company has a complete and independent financial accounting system, with dedicated financial personnel and separate bank accounts, ensuring compliance with legal requirements[109]. - The company has established a risk management system for foreign exchange hedging to mitigate market risks[70]. - The company has committed to fulfilling measures to compensate for dilution of immediate returns, ensuring compliance with regulations[181]. Employee Engagement - The company has a total of 1,273 technical personnel, highlighting its emphasis on technical expertise within its workforce[131]. - The company has established a performance-oriented compensation management system, linking fixed and variable pay to performance results[133]. - The total pre-tax remuneration for the board of directors, supervisors, and senior management amounted to CNY 1,208.26 million in 2023[123]. - The company aims to enhance its training management system in 2024, focusing on systematic training for management and operational decision-making[134]. Strategic Initiatives - The company has implemented a "Quality Return Dual Improvement" action plan to enhance investor returns[99]. - The company continues to focus on its core business and drive development through innovation[100]. - The company has actively engaged with institutional investors through multiple communication channels, including online meetings and on-site research[98]. - The company is committed to maximizing shareholder value and contributing positively to market stability and investor confidence[107].