Gelonghui, March 14, 丨 China Xuyang Group (01907.HK) announced the audited annual results for the year ended December 31, 2023. Annual revenue was RMB 46.066 billion, up 6.8% from last year. Profit attributable to company owners was RMB 860 million, down 53.6% year on year; the company's basic profit per share was RMB 19 cents, down 54.8% from last year. The board of directors recommended a final dividend of RMB 1.20 per share (equivalent to HK1.32 HK cents per share) to shareholders.
During the reporting period, the Group focused on promoting the integration of existing businesses and production parks, expanding production of coke and fine chemical products, and signing four new operation management agreements. In order to continuously create value for the company's shareholders, the Group strictly controls the operating costs and expenses of the production park and closely monitors the operating efficiency of the production park.
With strong market demand, the Group continues to expand the annual production capacity of all products and further strengthen the refining capacity of high-end chemical products. Since 2022, the Group has been working with two joint ventures and an associated company to develop a new production park in Sulawesi, Indonesia. As of 2023 and the date of this report, three coke ovens have been put into operation. The total annual coke production capacity of the three companies in Indonesia will eventually be 13.4 million tons, and the coke production equity production capacity belonging to the group will be 4.36 million tons/year.
Currently, the Group operates eight production sites around the world, seven of which are located in three provinces in the country and one in Sulawesi, Indonesia. The Group is also developing a new coke production park in Jiangxi Province, China. The core concept of the Group's expansion is market-oriented, based on the Group's five-year plan from 2021 to 2025 to increase the annual production/processing volume of coke and fine chemical products. As new production facilities are gradually put into operation, the Group's overall production capacity will continue to grow, thereby developing a longer and wider production chain covering more than 60 (2022: about 55) fine chemical products, maintaining the Group's leading position in the coke and fine chemical products industry in the long term, and continuing to create value for shareholders.