Financial Performance - The company achieved a total revenue of RMB 4.16 billion in 2023, representing a year-on-year growth of 25.6% compared to RMB 3.31 billion in 2022[59]. - Total operating revenue increased by approximately 25.4% from about RMB 3,309.6 million for the year ended December 31, 2022, to about RMB 4,151.8 million for the year ended December 31, 2023[109]. - The total profit for the year was approximately RMB 409.2 million, reflecting a year-on-year increase of about 13.2%[69]. - Net profit attributable to shareholders reached RMB 339 million, a 12.5% increase from RMB 301 million in the previous year[63]. - The net profit for the year reached approximately RMB 342.0 million, with a year-on-year growth of about 13.0%[69]. - The gross profit rose by approximately 17.4% from RMB 568.7 million in 2022 to RMB 667.8 million in 2023, with gross margin recorded at 16.1% for 2023 compared to 17.2% for 2022[135]. - Revenue from general power supply business grew approximately 31.6% to about RMB 3,323.0 million, representing 80.0% of total operating revenue for the year ended December 31, 2023[109]. - Revenue from incremental power distribution business for the year ended December 31, 2023, was approximately RMB 358.8 million, accounting for 8.6% of total operating revenue[102]. Investments and Acquisitions - The company raised approximately RMB 380.5 million from its global offering, with RMB 340.9 million utilized by December 31, 2023, leaving RMB 39.6 million unutilized[2]. - The company strategically invested in a 15% stake in Shenzhen Car Electric Network Co., optimizing its equity structure and enhancing market value[59]. - As of December 31, 2023, the company completed the acquisition of a 15% stake in Shenzhen Vehicle Electric Network Co., Ltd. for approximately RMB 115.2 million[80]. - The company has allocated 40% of the net proceeds from its global offering for acquiring power-related assets, with RMB 115.2 million already utilized by the end of 2023[74]. - The company is actively seeking suitable acquisition targets to enhance its asset portfolio and operational capabilities[74]. Asset Management - Total assets increased to RMB 6,324,835 thousand in 2023, up 22.9% from RMB 5,148,011 thousand in 2022[45]. - Non-current assets rose to RMB 4,761,837 thousand, representing a 26.1% increase from RMB 3,775,182 thousand in the previous year[45]. - The company's net assets reached RMB 3,403,837 thousand, a growth of 6.9% compared to RMB 3,185,218 thousand in 2022[45]. - The company’s fixed assets increased to approximately RMB 3,888.5 million as of December 31, 2023, up from RMB 3,062.9 million in 2022[121]. - Accounts receivable increased from approximately RMB 3,635 million as of December 31, 2022, to approximately RMB 6,932 million as of December 31, 2023, mainly due to adjustments in the meter reading cycle[144]. - Total borrowings amounted to approximately RMB 6,574 million as of December 31, 2023, compared to approximately RMB 3,142 million as of December 31, 2022[147]. Operational Highlights - The company operates a total of 6 hydropower stations with a total installed capacity of 127,030 kW as of the end of 2023[49]. - The company has a stable user base and comprehensive power supply network in Yibin City, optimizing the utilization of power resources[48]. - The maximum power supply capacity of the grid increased to 1.95 million kilowatts, enhancing the electricity supply experience for the community[59]. - The company completed significant projects such as the Chengdu Universiade and the World Power Battery Conference without major power outages, ensuring reliable power supply for local economic development[103]. - The company reported a total electricity sales volume of 6,320,659 MWh for the year, an increase of 38.9% compared to the previous year[100]. Future Plans and Strategies - The company aims to focus on high-quality transformation and development in 2024, adapting to new economic and energy development trends[40]. - The company plans to invest approximately RMB 2,119.7 million in 2024, including RMB 624.1 million for infrastructure investment and RMB 617.6 million for rural network projects[83]. - The company plans to optimize its power grid operation methods based on load characteristics and historical operational experiences[89]. - The company aims to enhance its capital by actively acquiring quality clean energy projects to maximize profits and corporate value[53]. - The company is focused on promoting green energy projects, including distributed photovoltaic and energy storage initiatives, to build an integrated new energy industry chain[53]. Employee and Governance - The company employed 2,749 full-time employees as of December 31, 2023, down from 2,828 employees in 2022, with employee costs amounting to approximately RMB 477.4 million[51]. - The company has implemented a comprehensive training program for employees to enhance their skills and performance, ensuring the retention of high-quality talent[51]. - The company is focused on deepening party leadership and governance to ensure effective operational management and compliance[91]. - The company’s board composition includes various directors and supervisors, with changes noted as of April 6, 2023[175]. Dividend and Shareholder Information - The board proposed a final dividend of RMB 0.13 per share, totaling approximately RMB 139,666,501.00, subject to shareholder approval[94]. - The company will declare and pay dividends in cash or stock, subject to board discretion and shareholder approval[168]. - The company will withhold a 10% corporate income tax on the final dividend distributed to non-resident H-share shareholders[187]. - The company’s financial performance and dividend distribution will be influenced by its retained earnings and capital expenditure needs[168]. - The company has not been informed of any shareholders waiving their rights to the dividend as of the report date[185].
四川能投发展(01713) - 2023 - 年度财报