Gelonghui March 13 | Hansi Energy (00554.HK) announced its annual results. For the year ended December 31, 2023, the Group's revenue was approximately RMB 948.5 million, an increase of 36.5% over last year. The main reason for the increase was a 46.7% increase in sales revenue from oil and petrochemical products compared to last year. During the year, gross profit was approximately $89.2 million, down 4.7% from last year. Gross profit margin was 9.4%, a decrease of 4.1 percentage points year-on-year. Despite the increase in the Group's revenue, the increase in direct costs and operating expenses was higher than the increase in revenue, leading to a decline in gross profit and gross margin during the year. Basic and diluted loss per share was 0.91 cents.
During the year, the Group's EBIT and EBITDA were approximately 2.5 million yuan and 57.7 million yuan respectively, down 95.6% and 48.6% from last year. The main reason for the decrease was the confirmed loss of approximately $39.4 million from the sale of limited partnership equity during the year, as well as an increase in operating expenses and administrative expenses.
For the year ended 31 December 2023, the Group recorded total revenue of approximately $948.5 million, of which revenue from sales of oil and petrochemical products, provision of terminals, storage and transfer activities, and rental income from gas stations were approximately $797.7 million (accounting for 84.1% of the Group's total revenue), $145.5 million (15.3% of the Group's total revenue), and $5.3 million (0.6% of the Group's total revenue), respectively, increasing by 46.7%, slightly decreasing by 0.1% and 4.7% respectively. During the year, the increase in trade revenue was mainly due to the gradual recovery of the global economy in 2023, which led to an increase in the number of sales contracts signed and sales of oil and petrochemical products. On the other hand, storage revenue declined due to a decline in the rental rate of storage tanks, which was offset by an increase in operating revenue due to increased throughput in the storage area this year. Furthermore, rental income from gas stations continues to contribute part of the Group's revenue.
Looking ahead to 2024, the Group's terminal storage business will continue to operate at a high load, maintain a storage tank rental rate of at least 95%, and strive to achieve continued revenue and profit growth. The trade and gas station oil distribution and sales business will increase cooperation with central enterprises such as CNOOC Group and Sinochem Group, as well as local state-owned enterprises in Guangdong. Under the premise of controlling operating risks, we aim to reach 250,000 to 300,000 metric tons of gasoline, diesel and fuel oil in operation.