Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 2,330.2 million, an increase of 3.4% from RMB 2,254.5 million in 2022[5] - Gross profit for the year was RMB 148.8 million, down 48.3% from RMB 287.7 million in the previous year[5] - Net profit attributable to shareholders was RMB 54.9 million, a decrease of 60.3% compared to RMB 138.2 million in 2022[5] - Basic earnings per share for the year were RMB 0.09, down from RMB 0.26 in the previous year[5] - The company reported a significant increase in inventory, which rose to RMB 117.5 million from RMB 65.7 million, a 78.8% increase[6] - The company's operating profit before tax for the year ended December 31, 2023, was RMB 98.889 million, a decrease of approximately 57.7% compared to RMB 233.548 million in 2022[12] - The net cash generated from operating activities for the year was RMB 104.459 million, down from RMB 318.798 million in the previous year, reflecting a decline of about 67.2%[12] - The company reported a pre-tax profit of RMB 98,889,000 for the year ended December 31, 2023, compared to RMB 233,548,000 in the previous year, indicating a decrease of approximately 57.7%[81] - The company’s operations are entirely based in China, with all non-current assets located in the country[85] - The company reported a net loss of RMB 5,495,000 from fair value changes in receivables in 2023, an improvement from a loss of RMB 6,517,000 in 2022[86] - The company’s after-tax profit increased by RMB 9,453,000, reflecting a significant improvement in financial performance[178] Dividends and Shareholder Returns - The company proposed a final dividend of RMB 0.02 per share[3] - The company declared dividends of RMB 19,600,000 to non-controlling interests, up from RMB 14,700,000 in the previous year[115] - The company proposed a final dividend of RMB 0.02 per share, totaling RMB 19,113,000, subject to shareholder approval[93] Assets and Liabilities - Non-current assets increased to RMB 1,111.6 million from RMB 723.0 million in 2022, reflecting a growth of 54%[6] - Current assets rose to RMB 551.8 million, up from RMB 352.5 million in the previous year, marking a 56.5% increase[6] - Total equity increased to RMB 1,127.4 million from RMB 719.6 million, representing a growth of 56.7%[7] - The company’s total liabilities increased to RMB 382.6 million from RMB 259.9 million, an increase of 47.2%[6] - The total cash and cash equivalents at the end of 2023 increased to RMB 300.710 million, up from RMB 62.470 million at the beginning of the year[14] - The total value of assets pledged to banks for general financing was RMB 180,741,000 as of December 31, 2023, compared to RMB 235,838,000 in 2022[161] - The company reported bank borrowings of RMB 258,762,000 as of December 31, 2023, an increase of 56.6% from RMB 165,147,000 in 2022[149] - The total financial liabilities and lease liabilities as of December 31, 2023, amounted to RMB 488,370,000, compared to RMB 305,549,000 in 2022[190] Revenue Segmentation - Total customer contract revenue for the year ended December 31, 2023, was RMB 2,330,228,000 after offsets[70] - Revenue from the chemical segment was RMB 1,502,282,000, while the energy products segment generated RMB 652,190,000[70] - The trade segment reported revenue of RMB 164,882,000, with an offset of RMB 72,696,000[70] - The other services segment contributed RMB 10,874,000 to total revenue after offsets[70] - The company recognized revenue from the sale of liquefied natural gas and finished oil amounting to approximately RMB 161,158,000 from external customers[73] Cash Flow and Financing Activities - The company reported a net cash inflow from financing activities of RMB 204.947 million for the year, compared to a net cash outflow of RMB 139.064 million in 2022[14] - Cash generated from operating activities was RMB 43,039,000, slightly down from RMB 44,262,000 in 2022[116] - The company has unutilized bank financing of approximately RMB 258,238,000 as of December 31, 2023, up from RMB 194,853,000 in 2022[188] Inventory and Cost Management - The company capitalized RMB 20,408,000 in inventory costs in 2023, compared to RMB 17,016,000 in 2022, indicating an increase of approximately 20%[87] - The company reported a depreciation expense of RMB 49,763,000 for the year ended December 31, 2023, compared to RMB 43,325,000 for the previous year, reflecting a year-on-year increase of 15.5%[106] Employee and Management Compensation - Total employee costs rose to RMB 32,244,000 in 2023 from RMB 30,882,000 in 2022, an increase of about 4%[87] - The total compensation for the five highest-paid individuals in the group for the year ended December 31, 2023, was RMB 886,000, a decrease of 46.5% from RMB 1,657,000 in 2022[103] - The total compensation for key management personnel was RMB 1,389,000 for the year ended December 31, 2023, a decrease from RMB 2,332,000 in 2022[166] Financial Reporting and Compliance - The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and include the financial statements of the company and its controlled entities[18] - The group completed its restructuring before 2023, with Jin Ning Energy, Jin Rui Energy, and Jin Ma Hydrogen Energy being jointly controlled by Jin Ma Energy, indicating a continuous operation entity[18] - The group recognizes revenue when control of goods or services is transferred to customers, with performance obligations being a key factor in revenue recognition[25] Risk Management - The company faces foreign currency risk due to holding foreign currency bank balances, with sensitivity analysis indicating potential impacts from currency fluctuations[176] - Credit risk is concentrated among five major customers, accounting for 22% of trade receivables as of December 31, 2023, compared to 21% in 2022[180] - The expected credit loss for trade receivables is not significant for the years ending December 31, 2023, and 2022[180]
金源氢化(02502) - 2023 - 年度业绩