中民控股2023年报

Distribution of business in China At 31 December 2023 Contents Financials73Independent Auditor’s Report 80Consolidated Statement of Profit or Lossand Other Comprehensive Income 82Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity 86Consolidated Statement of Cash Flows 88Notes to the Consolidated Financial Statements OthersCorporate Information 234Five-Year Financial Summary Chairman’s Statement 202312 31 Onbehalf of the board of directors(the“Board”)of ChinesePeople Holdings Company Limited (the “Company”) and all ofits subsidiaries (collectively the “Group” or “we”), I present theGroup‘s annual report for the year ended 31 December 2023 to theshareholders of the Company (the “Shareholder(s)”). ECONOMIC CONDITIONS ANDANNUAL RESULTS 2023126.065.2%20212022110120 In 2023, domestic GDP reached 126.06 trillion, representing anincreaseof 5.2%.The domestic economy has maintained themomentum of recovery, which has been faster than that of mostmajor economies. In 2021 and 2022, after a series of breakthroughsof 110 trillion and 120 trillion, China‘s economic growth has leapt toa new level. 20232,324.35.6%;1.29.9%;3,945.39.5%2023(LPG)4,8672.1%;47.157.2% According to public data released by the National Development andReform Commission of the People’s Republic of China (“NDRC”),National Bureau of Statistics of China, etc., the output of natural gasin 2023 was approximately 232.43 billion m3, increased by 5.6% ascompared to that of last year; the import of natural gas was 120 milliontons, increased by 9.9% year-on-year, and the apparent consumption ofnatural gas was 394.53 billion m3, increased by 9.5% year-on-year. In2023, China‘s Liquefied Petroleum Gas (“LPG”) production was 48.67million tons, representing a year-on-year increase of 2.1%; the totalretail sales of social consumer goods were approximately RMB47.15trillion, representing a year-on-year increase of 7.2%. 41,8358.95%;96,3323.39% With the joint efforts of the management and all employees, theGroup recorded the piped gas sales of 418.35 million m3 for theYear, representing an increase of 8.95% as compared to last year;the cylinder gas sales of 96,332 tons for the Year, representing adecrease of 3.39% as compared to the corresponding period lastyear. ECONOMIC CONDITIONS ANDANNUAL RESULTS(Continued) 202312 3125.14202228.682.2720220.62202312 312.43202312312.5920220.4012.44%202210.11%20222.33 The revenue was reduced for the year ended 31 December 2023, therevenue of the Group was approximately RMB2,514 million (2022:RMB2,868 million) and the loss for the Year was approximatelyRMB227 million (2022: profit RMB62 million (Restated)) mainly dueto share of loss of joint ventures of approximately RMB243 million forthe year ended 31 December 2023. For the year ended 31 December2023, our joint ventures had made a significant net loss in its bookdue to the substantial impairment loss was recognized in respect ofits property, plant and equipment, right-of-use assets and intangibleassets (the “Impairment”). Basic loss per share was RMB2.59 cents(2022: Earnings per share RMB0.40 cents (Restated)). The overallgross profit margin of the Group for the Year was 12.44% (2022:10.11%), representing an increase of 2.33 percentage points ascompared to that of 2022. During the Year, the overall gross profitmargin increased as a result of the increase in piped gas price andthe decrease in the price of cylinder gas and other goods. 202312 31202312 31202312 31 Last but not least, assuming if there was no such Impairment, ourjoint ventures would turn around from net loss to net profit forthe year ended 31 December 2023. In other words, the business ofthe Group is stable for the year ended 31 December 2023 and theGroup’s net loss would be turned to net profit for the year ended 31December 2023 if no such Impairment. FINANCIAL POSITION By ensuring the stability of the financial position, the Group carefullyutilises fund for reasonable investment and seizes the opportunityof business development. As at 31 December 2023, the debt-to-capitalisation ratio of the Group, representing the ratio of totalborrowings to total borrowings and equity attributable to owners ofthe Company, was 3.17% (2022: 3.02% (Restated)). 202312313.17%20223.02% Chairman’s Statement REVIEW AND PROSPECT OF THEINDUSTRY Piped Gas Transmission and Distribution Business Toachieve green,low-carbon,energy saving and low emissiondevelopmentstrategy is still the important goal of the PRCgovernment’swork.The establishment and implementation ofa dual control system of total energy consumption and intensitywill effectively promote China’s energy utilization efficiency andreduction of CO2emission intensity. During the period, the Groupforged ahead with high quality development in the natural gasindustry, so as to safeguard the safety, efficiency and continuity ofgas users. As supported by multiple dividend policies, such as energyreform and development planning u