Summary by Moomoo AI
Xianxin New Energy Holdings Limited (the “Company”) announces final results for the year ended 31 December 2023. During the period, the company's revenue was RMB832 million, down from $929 million last year. Company owners accounted for a loss of RMB1,166 million, a decrease from the previous year's $1,493 million. Basic and diluted loss per share was RMB99.85. During the reporting period, the Company completed the sale of 36 photovoltaic power plant projects under its flag in China, totaling approximately 584 MW, and will receive a net cash proceeds of approximately RMB16 billion. In addition, the Company actively explored the natural gas business during the reporting period and appointed Mr. Xu Huilin as Chief Executive Officer in June 2023 to develop the natural gas trading business. The company continues to pursue a light asset transformation strategy and focus on the development of its dual-core business “Photovolta+Natural Gas”. The Board of Directors does not propose to pay a final dividend in 2023.