Financial Performance - The company achieved a net profit attributable to shareholders of approximately RMB 4,413,272 thousand, with earnings per share of RMB 0.8760[10]. - The operating revenue for 2023 reached ¥15,192,010,226.04, representing a 14.61% increase compared to ¥13,255,603,107.72 in the same period last year[16]. - Net profit attributable to shareholders was ¥4,413,271,587.29, an 18.51% increase from ¥3,724,115,165.87 year-over-year[16]. - The total profit for the year was RMB 5.672 billion, reflecting a year-on-year increase of 23.82% from RMB 4.581 billion in 2022[29]. - The company’s operating revenue for the reporting period reached approximately RMB 15,192 million, representing a year-on-year increase of 14.61%, primarily driven by the rise in traffic volume and toll revenue[74]. - The company reported a decrease in sales expenses to RMB 10,026,993.87 in 2023 from RMB 14,501,739.24 in 2022, a reduction of 30.8%[180]. - The total income tax expense for 2023 was CNY 1,062,649,445.98, up from CNY 833,033,706.01 in 2022, reflecting a growth of approximately 27.5%[194]. Assets and Liabilities - The total assets of the group amounted to approximately RMB 78.661 billion, with net assets attributable to shareholders of approximately RMB 33.987 billion[11]. - Total assets at the end of 2023 were ¥78,661,443,944.36, a slight increase of 0.26% from ¥78,458,345,074.07 at the end of 2022[16]. - The group’s total liabilities at the end of the reporting period were approximately RMB 37,772,936,000, resulting in a debt-to-asset ratio of 48.02%, a decrease of about 3.61 percentage points compared to the previous period[108]. - The company’s cash and cash equivalents decreased to RMB 862,161,074.06 from RMB 932,931,344.38, a decline of about 7.5%[173]. - Accounts receivable increased by 46.32% to RMB 1,650,030,300.22, mainly due to an increase in receivables from the national subsidy for online power stations[101]. Investments and Projects - The company invested approximately RMB 7.47 billion in the Longtan Bridge project, accounting for 62.08% of the total project investment, with completion expected in early 2025[31]. - The company is actively preparing for the Xitai project, which has a total estimated investment of approximately RMB 24.198 billion[31]. - The company made significant equity investments totaling RMB 17,500,000, acquiring a 20% stake in a photovoltaic power generation company[116]. - The company plans to invest RMB 10,800,000 in the Sanxia New Energy Power Generation Company in January 2024[118]. - Major investment projects include RMB 2,500,000,000 for the Longtan Bridge and North Connection Line, RMB 1,150,000,000 for the southern section of the Xiyi Expressway, and RMB 7,800,000,000 for the construction of the Xitai Expressway[145]. Operational Highlights - The group operates 17 toll bridge projects, with a total operational bridge mileage exceeding 910 kilometers[12]. - The average daily toll revenue for the Shanghai-Nanjing Expressway was approximately RMB 14.39 million, with a year-on-year increase of about 22.66%[59]. - The company completed 15 maintenance tasks in just 16 effective working days, generating an economic benefit of nearly 20 million RMB compared to traditional methods[35]. - The company achieved a 100% recycling rate of road surface materials and a 100% utilization rate in green maintenance initiatives[35]. - The company has implemented an AI-based event detection application, achieving a detection accuracy rate of over 95.8% for highway incidents[33]. Corporate Governance and Compliance - The company’s financial statements are prepared in accordance with Chinese accounting standards and comply with Hong Kong listing rules[9]. - The company’s board of directors and senior management confirm the accuracy and completeness of the data presented in the announcement[4]. - The audit committee has reviewed and confirmed the preliminary announcement of the annual results for the year ending December 31, 2023[162]. - The company has adopted the new corporate governance code and has complied with all relevant provisions, with minor exceptions noted[159]. Market Position and Strategy - The company is the only listed bridge company in Jiangsu Province, with the controlling shareholder holding 54.44% of the shares[14]. - The company is positioned to benefit from the ongoing transformation and upgrading of the Jiangsu industry, with increasing demand for high-value, small-batch, and efficient freight services[49]. - The company aims to strengthen its position as a major investor and operator in the Jiangsu highway network, continuously meeting public demand for improved travel[136]. - The company is focusing on low-carbon transformation, with plans to establish multiple low-carbon service areas and a carbon monitoring platform for highway operations[141]. Employee and Training Initiatives - The total employee compensation expenses amounted to approximately RMB 882.73 million during the reporting period[164]. - The company trained a total of 2,312 employees across various levels, with a training expenditure of approximately RMB 15.6 million, enhancing employee capabilities and supporting sustainable development[167]. - The company achieved an 86.91% pass rate for the "Rescue Machinery Operator" certification, with 312 out of 359 participants successfully certified[167].
江苏宁沪高速公路(00177) - 2023 - 年度业绩