昆仑能源2023年报

140,600Natural gas sales business revenue(RMB million) 49,285Total natural gas sales volume(million cubic metres) 15,604,000Cumulative users 890,000Number of new users 12Acquired, Merged &Newly Established Gas Projects 29Covering provinces, cities &autonomous regions across the country CONTENTS目錄 Consolidated Statement ofComprehensive Income90 Locations of Natural Gas Business8 Consolidated Statement ofFinancial Position92 Locations of Crude OilExploration and Production Business10 Consolidated Statement ofChanges in Equity94 Chairman’s Statement12 Management Discussion and Analysis20 Consolidated Statement of Cash Flows96 FINANCIAL AND OPERATIONAL HIGHLIGHTS財務及業務摘要 FINANCIAL AND OPERATIONAL HIGHLIGHTS財務及業務摘要 Sales volume of LPG LNG gasification, entrucking &processing volume Equity sales volume of crude oil FINANCIAL AND OPERATIONAL HIGHLIGHTS財務及業務摘要 Notes: (1)2020(2)(3)(4) (1)Due to certain Group’s businesses are classified as discontinued operationsin 2020. The financial information of the Group has been restated.(2)The financial information of the Group has not been restated for thepotential disposal of discontinued operations as the directors consider thatthe unrestated financial information is more appropriate for year-on-yearcomparison of the change in the Group’s business operation.(3)Core profit before income tax expense is defined as profit before incometax expense excluding impairment losses on property, plant and equipment,intangible assets and exchange gains/losses.(4)Core profit attributable to shareholders of the Company is defined as profitattributable to shareholders of the Company excluding impairment losses onproperty, plant and equipment, intangible assets and exchange gains/lossesattributable to shareholders of the Company and its related tax effect. Notes: (1)(2)(3)(4)EBITDA(5)(6)(7)(8) (1)Net profit margin is profit for the year from continuing operations divided byrevenue from continuing operations.(2)Return on total assets is profit for the year from continuing operations dividedby average total assets from continuing operations.(3)Return on capital employed is the ratio of profit before income tax expenseand interest from continuing operations divided by total assets less currentliabilities from continuing operations.(4)Liabilities-to EBITDA ratio is the ratio of total liabilities from continuingoperations divided by EBITDA.(5)Debts-to-net assets ratio is the ratio of the sum of interest-bearing borrowingsand lease liabilities divided by total equity.(6)Gearing ratio is the ratio of the sum of interest-bearing borrowings, and leaseliabilities divided by the sum of total equity, interest-bearing borrowings andlease liability.(7)Debts-to-assets ratio is the ratio of the sum of interest-bearing borrowingsand lease liabilities divided by total assets.(8)Average finance cost is the ratio of aggregated amount of each categoryof borrowing multiply by its interest rate divided by the total borrowing fromcontinuing operations. FINANCIAL AND OPERATIONAL HIGHLIGHTS財務及業務摘要 FINANCIAL AND OPERATIONAL HIGHLIGHTS財務及業務摘要 (1)2020 LOCATIONS OF NATURAL GAS BUSINESS天然氣業務分佈圖 LOCATIONS OF NATURAL GAS BUSINESS天然氣業務分佈圖 LOCATIONS OF CRUDE OIL EXPLORATION AND PRODUCTION BUSINESS原油勘探及生產業務分佈圖 LOCATIONS OF CRUDE OIL EXPLORATION AND PRODUCTION BUSINESS原油勘探及生產業務分佈圖 CHAIRMAN’S STATEMENT主席報告 Respected shareholders: 20233,945.37.6% In 2023, while the global energy industry has gradually shaken off thehaze of the once-in-a-century pandemic and geopolitical conflicts, thedemand for natural gas returned to the track of positive growth. Theeffect of domestic macro policies continued to be released, and naturalgas consumption recovered. The annual apparent consumption of theyear amounted to 394,530 million cubic meters, representing a year-on-year increase of 7.6%. By adhering to the corporate mission of“Beautiful China of empower construction, brighten wonderful life ofpeople”, the Group paid more attention to value creation, improved thegovernance system, and strove to improve the quality of development.With increases in both the volume and efficiency of its primary businessand the steady layout of emerging businesses, the Group achieved CHAIRMAN’S STATEMENT主席報告CHAIRMAN’S STATEMENT主席報告 strong performance in the capital markets, the high-quality developmenthas reached a new high, enabling the Group to be recognised as a“benchmark enterprise” in the SASAC’s” Double-Hundred Enterprises”assessment. Overview of the Company’s performance Financial performance 20231231本年度1,773.5454.103.1%125.9312.0110.5%56.82 For the year ending 31 December 2023 (the “Year”), KunlunEnergy Company Limited and its subsidiaries realized a revenue ofRMB177,354 million, a year-on-year increase of RMB5,410 million, or3.1%. Profits before income tax was RMB12,593 million, a year-on-year increase of RMB1,201 million, or 10.5%. Profits attributable toshareholders amounted to RMB5,682 million, a year-on-year i