Foran Energy(002911)2024-05-17 10:42Group 1: Company Overview - The company focuses on "energy + technology + supply chain" development, deeply engaging in urban gas business while actively promoting petrochemical products, hydrogen energy, thermal energy, photovoltaic, and energy storage services [2] - In 2023, the company's total operating revenue was CNY 25.538 billion, a year-on-year increase of 34.96% [2] - The net profit attributable to the parent company was CNY 844 million, a year-on-year increase of 28.87% [2] Group 2: Natural Gas Sales and Pricing - In 2023, the company sold 4.569 billion cubic meters of natural gas, a year-on-year increase of 18.16% [3] - The customer structure includes approximately 80.21% industrial and commercial users, with residential gas accounting for about 4.16% and power plant users at 15.65% [3] - The company has a price adjustment mechanism linked to upstream natural gas prices, allowing for timely adjustments based on market conditions [3] Group 3: Gas Supply and Infrastructure - The company has established a diversified gas supply structure, primarily relying on domestic resources supplemented by international suppliers [4] - It holds 11% equity in Zhuhai Jinwan LNG Co., Ltd. and 2.5% in Guangdong Dapeng LNG Co., Ltd., benefiting from LNG receiving station investments [4] - The company has developed a mature municipal gas pipeline network, achieving full coverage of major areas and enhancing operational efficiency [4] Group 4: Future Growth and Strategic Initiatives - The company is actively expanding its hydrogen energy business, focusing on solid oxide fuel cells (SOFC) and hydrogen equipment manufacturing [5] - It plans to enhance its hydrogen energy infrastructure and explore hydrogen blending technology for natural gas transportation [5] - The company aims to maintain a stable dividend policy, distributing CNY 5.93 billion in cash dividends in 2023, which accounts for 70.19% of the net profit attributable to shareholders [5]