onlinecasinoslotgames| Shenzhen Energy: Net profit in 2023 will be 2.046 billion yuan, a year-on-year decrease of 6.94% and planned to be 1.4 yuan for 10 groups

Shenzhen Energy (000027) disclosed its 2023 annual report on April 20th. 2023OnlinecasinoslotgamesThe company achieved a total revenue of 405Onlinecasinoslotgames0.4 billion yuan, up 7.94 percent over the same period last year; net profit from home was 2.046 billion yuan, down 6.94 percent from the same period last year; deducting 2.163 billion yuan from non-net profit, down 3.11 percent from the same period last year; net cash flow from operating activities was 11.93 billion yuan, an increase of 23.95 percent over the same period last year; during the reporting period, Shenzhen Energy basic earnings per share was 0.27 yuan, with a weighted average return on net assets of 4.52 percent. The company's annual profit distribution plan for 2023 is to distribute 1.4 yuan (including tax) to all shareholders for every 10 shares.

Shenzhen Energy's current price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are about 17.07 times, 0.75 times and 0.86 times, respectively.

The historical quantiles of the company's recent price-to-earnings ratio (TTM), price-to-book ratio (LF) and price-to-sales ratio (TTM) are as follows:

Statistics show that Shenzhen Energy's total revenue has a compound growth rate of 25.58% in the past three years, ranking first among the 14 companies in the thermal power industry that have disclosed data for 2023. The compound annual growth rate of net profit in the past three years is-19.92%, ranking 9x14.

According to the annual report, during the reporting period, the company was mainly engaged in the development, production, purchase and marketing of various conventional and new energy sources, as well as urban solid waste treatment, wastewater treatment and urban gas supply.

In terms of products, in the company's main business in 2023, electricity-coal revenue was 13.773 billion yuan, an increase of 2.35 percent over the same period last year, accounting for 34.00 percent of business income; electricity-gas turbine revenue was 9.202 billion yuan, an increase of 39.05 percent over the same period last year, accounting for 22.72 percent of business income; and ecological and environmental protection income was 7.745 billion yuan, down 1.64 percent from the same period last year, accounting for 19.12 percent of business income.

In 2023, the company's gross profit margin was 22.55%, up 5.20 percentage points from the same period last year; the net profit margin was 6.87%, up 0.28 percentage points from the same period last year. According to the single-quarter indicators, the company's gross profit margin in the fourth quarter of 2023 was 17.47%, up 0.79% from the same period last year, down 9.44% from the previous quarter; and the net profit rate was-6.87%, down 10.89% from the same period last year and 18.61% from the previous quarter.

From a product point of view, the gross profit margins of electricity-coal-fired, power-gas turbine and ecological environmental protection in 2023 are 11.76%, 15.95% and 28.78%, respectively.

During the reporting period, the total sales amount of the company's top five customers was 25.293 billion yuan, accounting for 62.45% of the total sales amount, and the total purchase amount of the company's top five suppliers was 7.83 billion yuan, accounting for 24.96% of the total annual purchase.

According to the data, the weighted average return on equity of the company in 2023 was 4.52%, down 0.60 percentage points from the same period last year; the return on invested capital in 2023 was 4.17%, an increase of 0.17 percentage points over the same period last year.

In 2023, the net cash flow of the company's operating activities was 11.93 billion yuan, an increase of 23.95% over the same period last year; the net cash flow of fund-raising activities was 5.691 billion yuan, an increase of 252 million yuan over the same period last year; and the net cash flow of investment activities was-14.602 billion yuan, compared with-14.195 billion yuan in the same period last year.

Further statistics show that the free cash flow of the company in 2023 is-2.794 billion yuan, compared with-7.859 billion yuan in the same period last year.

In 2023, the cash ratio of the company's operating income is 115.53%, and the net present ratio is 583.10%.

In terms of operating capacity, in 2023, the company's total asset turnover was 0.27 times, compared with 0.27 times in the same period last year (the industry average in 2022 was 0.42 times, and the company ranked in the same industry 25 times 28); the company's accounts receivable turnover and inventory turnover were 3.09 and 21.40 times, respectively.

In terms of major changes in assets, by the end of 2023, the company's projects under construction increased by 123.45% over the end of the previous year, accounting for 4.76% of the company's total assets; fixed assets decreased by 2.73%, accounting for 4.38% of the company's total assets; deposit funds increased by 33.33% over the end of last year, accounting for 0.85% of the company's total assets Accounts receivable increased by 3.17% over the end of last year, accounting for 0.46 percentage points of the company's total assets.

In terms of major changes in liabilities, by the end of 2023, the company's long-term borrowing increased by 38.29% over the end of the previous year, accounting for 5.28% of the company's total assets; other current liabilities increased by 89.94% over the end of the previous year, accounting for 2.44% of the company's total assets; bonds payable decreased by 17.71% compared with the end of last year, accounting for 2.71% of the company's total assets. The non-current liabilities due within one year decreased by 32.86% compared with the end of last year, accounting for 2.30 percentage points of the company's total assets.

From the perspective of inventory changes, by the end of 2023, the book value of the company's inventory was 1.37 billion yuan, accounting for 2.93% of the net assets, a decrease of 192 million yuan compared with the end of last year. Among them, the price reduction of inventory is prepared to be 76.6133 million yuan, with a provision proportion of 5.3%.

For the whole of 2023, the company's R & D investment was 306 million yuan, down 12.64% from the same period last year; R & D investment accounted for 0.75% of operating income, down 0.18% from the same period last year. In addition, the company's annual R & D investment capitalization rate is 43.15%.

In terms of solvency, the asset-liability ratio of the company at the end of 2023 was 63.62 percent, up 2.07 percentage points from the end of the previous year; and the interest-bearing asset-liability ratio was 39.01 percent, up 0.92 percentage points from the end of the previous year.

In 2023, the current ratio of the company is 1.03 and the quick ratio is 0.99.

According to the annual report, among the company's top 10 tradable shareholders at the end of 2023, the new shareholders are Jingshun Great Wall Securities Investment Fund with low dividend volatility and 100 traded open index securities investment fund, Liu Qian, replacing Li Xianghua and Wang Shaohua at the end of the third quarter. In terms of specific shareholding ratio, the shareholdings of Shenzhen Yixin Investment Co., Ltd. have increased, while those of Hong Kong Securities Clearing Co., Ltd., and China Securities 500 exchange-traded securities investment funds have declined.

In terms of chip concentration, by the end of 2023, the total number of shareholders in the company was 138200, an increase of 0.68% over the end of the third quarter, and the value of stock market holdings per household rose to 222100 yuan from 221100 yuan at the end of the third quarter, an increase of 0.45%.

Indicator Notes:

Price-earnings ratio

= total market capitalization / net profit. When the company loses money, the price-to-earnings ratio is negative, so it is of no practical significance to use the price-to-earnings ratio or the price-to-sales ratio as a reference.

Price to book ratio

= total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies whose earnings fluctuate greatly and their net assets are relatively stable.

Market sales ratio

= total market capitalization / operating income. The valuation method of price-to-sales ratio is usually used for growth companies that are losing money or making small profits.

In this paper, the price-to-earnings ratio and price-to-sales ratio are calculated by TTM, that is, based on the 12-month data up to the latest financial report (including forecast). The price-to-book ratio is calculated on the basis of LF, which is based on the latest financial report.

When the price-to-earnings ratio is negative, the current quantile is not displayed, which will lead to the interruption of the line chart.

(article source: China Securities News, China Securities Network)