Financial Performance - For the year ended December 31, 2023, the total revenue was approximately RMB 26.9 million, a decrease of 75% compared to RMB 109.3 million in 2022[10]. - The gross profit for the same period was approximately RMB 12.4 million, down 51% from RMB 25.4 million in 2022, resulting in a gross margin of 46%[10][18]. - The loss attributable to equity holders of the parent company was approximately RMB 535.9 million, an increase of 27% from RMB 422.8 million in 2022[10][18]. - Total assets decreased by 28% to RMB 2,126.0 million from RMB 2,939.2 million in 2022[10]. - The total equity attributable to equity holders of the parent company fell by 90% to RMB 57.3 million from RMB 563.1 million in 2022[10]. - The company maintained a debt-to-asset ratio of 96.5%, up from 74.4% in 2022, indicating increased financial leverage[10]. - The total revenue achieved by the company for the year ended December 31, 2023, was RMB 26.9 million, with a net loss attributable to shareholders of RMB 535.9 million; the gross profit margin increased by 22.8 percentage points to 46.0% compared to the same period last year[35]. Strategic Initiatives - The company plans to strengthen partnerships with government departments and state-owned enterprises to enhance its reputation and service quality[17]. - The group completed a significant equity restructuring, issuing a total of 2,479,273,000 shares to reduce offshore short-term debt and financial costs, transitioning to a state-owned mixed-ownership listed group[19]. - The entry of state capital has enhanced the group's financial stability and market reputation, increasing investor confidence and attracting more business opportunities[20]. - The new major shareholder, Greenland Group, provides crucial support in management, business expansion, and market strategy, facilitating closer collaboration and resource integration[22]. - The group plans to explore green infrastructure projects and new energy sectors, including photovoltaics, energy storage, and energy management, leveraging existing project experience and the major shareholder's resources[27]. - The strategic shift towards green low-carbon industries aligns with government support and market trends, ensuring long-term development prospects[27]. - The company is committed to optimizing its business structure and enhancing technical capabilities to achieve significant growth in new development areas[30]. Environmental, Social, and Governance (ESG) Efforts - The emphasis on Environmental, Social, and Governance (ESG) will drive the landscaping industry towards ecological protection, resource recycling, and low-carbon development, enhancing sustainability and competitive advantage[23]. - The company is committed to technological innovation and has invested more in establishing a technology center to enhance research and development capabilities, focusing on green technology applications[37]. - The company aims to align with national policies promoting ecological civilization and rural revitalization, which are expected to create new development opportunities in the environmental protection and agriculture sectors[39]. - The company is focused on sustainable development and will actively promote the implementation of ESG principles while continuing to invest in core business areas such as ecological construction and environmental restoration[39]. - The company has established an ESG working group led by the board of directors to identify, assess, prioritize, and manage significant ESG-related issues[147]. - The ESG report is prepared according to the guidelines set by the Hong Kong Stock Exchange to inform stakeholders about the company's ESG policies and performance[144]. - The company aims to collaborate with top domestic and international enterprises to introduce advanced technologies and management experiences to improve core competitiveness[138]. Corporate Governance - The board of directors is committed to maintaining robust corporate governance practices to enhance corporate value and accountability[48]. - The company has adopted the principles of the corporate governance code as a foundation for its governance practices since its listing[48]. - The board consists of five members, including two executive directors and three independent non-executive directors[52]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[64]. - The company has received annual written confirmations of independence from all independent non-executive directors[56]. - The company emphasizes high ethical standards in business operations to achieve long-term goals and maximize shareholder returns[45]. - The company has established a disclosure policy to guide handling of confidential information and regulatory disclosures[89]. Risk Management - The company has established a risk management and internal control system aimed at managing risks associated with achieving business objectives, providing reasonable assurance against material misstatements or losses[102]. - The company’s risk management framework includes identifying potential risks, assessing their impact, and implementing controls to mitigate them, ensuring effective resource use and compliance with regulations[107]. - The board is responsible for evaluating the nature and extent of risks the company is willing to take to achieve its strategic objectives[102]. - The company emphasizes long-term risk assessment and management, focusing on various risk parameters to ensure sustainable growth[106]. Environmental Impact - Air emissions of nitrogen oxides (NOx) decreased from 93.13 kg in 2022 to 46.63 kg in 2023, representing a reduction of approximately 50%[164]. - Sulfur oxides (SOx) emissions from owned vehicles decreased from 0.12 kg in 2022 to 0.06 kg in 2023, a reduction of 50%[164]. - Particulate matter (PM) emissions decreased from 8.92 kg in 2022 to 4.55 kg in 2023, a reduction of approximately 49%[164]. - Total greenhouse gas emissions decreased by approximately 49.37% from 220.89 tons CO2 equivalent in 2022 to 111.83 tons CO2 equivalent in 2023[166]. - The company has not generated any hazardous waste during the reporting period, thus no related targets were set[174]. - The company has maintained high standards in waste management and has established a waste management process to ensure proper classification and recycling[173]. - The average electricity consumption per employee decreased by approximately 33.68% compared to 2022, primarily due to fewer engineering projects[179]. Shareholder Communication - The company emphasizes the importance of regular communication with shareholders to ensure they receive necessary information for informed assessments of the company's strategy, operations, and financial performance[118]. - The company has established multiple channels for ongoing dialogue with shareholders, including company communications, announcements, and the company website[123]. - Shareholders can submit written inquiries to the board of directors, and the company generally does not handle oral or anonymous inquiries[116]. - The company encourages shareholder participation in annual general meetings, where key matters, including the election of individual directors, will be presented as independent resolutions[120].
中国绿地博大绿泽(01253) - 2023 - 年度财报