| --- | --- | --- | |--------|-----------------------------------|------------------------------| | 項 目 | 2023 年 6 月 30 日 \n人民幣元 | 2022 年 12月31 日 \n人民幣元 | | | | | | 已簽約 | 153,712,689.86 | 104,883,250.10 | 33. 關聯方關係及其交易 | --- | --- | --- | |--------------|------------------------------------|---------------------------------| | | 截 至 6月30 \n年 \n2023 人民幣元 | 日止六個月 \n2022 年 \n人民幣元 | | | | | | 購買商品 | 80,839,736.84 | 96,378,819.90 | | 提供勞務 | 4,221,199.48 | 2,988,296.61 | | 接受勞務 | 77,533,424.96 | 26,679,797.77 | | ...

Financial Performance - For the six months ended June 30, 2023, the company's main business revenue was RMB 1,829,746,480.01, an increase from RMB 1,498,732,043.43 in the same period of 2022, representing a growth of approximately 22.1%[30] - The total operating income for the six months ended June 30, 2023, was RMB 1,833,386,031.70, compared to RMB 1,502,213,920.97 for the same period in 2022, indicating an increase of about 22.0%[30] - The company's net profit attributable to shareholders for the six months ended June 30, 2023, was RMB 128,363,115.12, slightly down from RMB 129,713,416.10 in the same period of 2022, a decrease of approximately 1.0%[25] - Total revenue for the six months ended June 30, 2023, was RMB 1,833,386,031.70, an increase of 22.0% compared to RMB 1,502,213,920.97 for the same period in 2022[45] - General power supply business revenue reached RMB 1,509,652,892.30, up from RMB 1,190,640,941.12, reflecting a growth of 26.8%[45] - The total profit for the same period was RMB 157.3 million, a decrease of 1.0% year-on-year[135] - The net profit for the period was RMB 129.1 million, down 0.5% compared to the previous year[135] - The net profit attributable to shareholders was RMB 128.4 million, reflecting a year-on-year decline of 1.0%[135] Revenue Breakdown - Revenue from incremental power distribution business increased by 22.2% to RMB 163.9 million for the six months ended June 30, 2023, compared to RMB 134.1 million for the same period in 2022[23] - Revenue from power engineering construction services decreased by 9.9% to RMB 159,863,957.11 from RMB 177,447,930.23, accounting for 8.7% of total revenue in 2023[48] - For the six months ended June 30, 2023, the operating revenue from general power supply business increased by 26.8% to RMB 1,509.7 million, compared to RMB 1,190.6 million for the same period in 2022[113] Costs and Expenses - Operating costs rose by 27.7% from RMB 1,246.8 million for the six months ended June 30, 2022, to RMB 1,592.7 million for the six months ended June 30, 2023, mainly due to the increased scale of general power supply operations in the first half of 2023[89] - The income tax expense for the six months ended June 30, 2023, was RMB 28.2 million, with an effective tax rate of 17.9%, compared to RMB 29.2 million and 18.3% for the same period in 2022[121] - Financial expenses decreased significantly from RMB 4,526.6 million for the six months ended June 30, 2022, to RMB 2,393.8 million for the same period in 2023[68] Assets and Liabilities - The total liabilities as of June 30, 2023, amounted to RMB 2,364,063,001.98, an increase from RMB 1,962,792,662.13 as of December 31, 2022, reflecting a growth of approximately 20.4%[5] - The company's current liabilities totaled RMB 1,463,289,626.61 as of June 30, 2023, down from RMB 1,511,575,255.85 as of December 31, 2022, a decrease of about 3.2%[5] - The total assets increased from RMB 5,148.0 million as of December 31, 2022, to RMB 5,546.0 million as of June 30, 2023[70] - The total equity attributable to shareholders as of June 30, 2023, was RMB 3,143,787,797.77, slightly down from RMB 3,147,365,694.96 as of December 31, 2022[96] Customer and Market Development - The company reported a total of 7,290 new household customers, 35 new large industrial customers, and 2,285 new general commercial customers in the first half of 2023[113] - The total electricity sales for the first half of 2023 amounted to 2,866,676.70 MWh, a 25.6% increase from 2,282,636.19 MWh in the same period last year[192] Strategic Initiatives - The company plans to enhance its core power supply business by promoting gas, wind, solar, and pumped storage projects[142] - The company aims to actively seize opportunities in the new energy revolution and develop integrated energy services[142] - The company is actively expanding its renewable energy business, focusing on projects such as gas, photovoltaic, pumped storage, and smart integrated energy stations[188] - The company is advancing the construction of pumped storage and gas power generation projects, with significant support from local government[153] Operational Efficiency - The company is focusing on improving service capabilities by optimizing the electricity business environment and enhancing customer service through its 96598 service center[153] - The average turnover days for accounts payable decreased from 162.9 days as of June 30, 2022, to 137.8 days as of June 30, 2023[125] - The average inventory turnover days decreased from 10.9 days in 2022 to 10.3 days in 2023[175] Risk Management and Compliance - The company is reinforcing its internal control system to mitigate financial risks and improve cost management[153] - The company has adopted the listing rules and standards for the conduct of its directors and supervisors, ensuring compliance with securities trading regulations[197]

Revenue and Profitability - Revenue from general power supply business reached approximately RMB 2,524.3 million, accounting for 76.3% of total revenue[3] - Revenue from power engineering construction services and related businesses was RMB 400.9 million, representing 12.1% of total revenue, an increase of 6.6% from RMB 376.1 million in the previous year[4][10] - Total revenue for the year ended December 31, 2022, was RMB 2,740.9 million, up from RMB 2,617.7 million in 2021, reflecting an overall growth of approximately 4.7%[11] - Total revenue for 2022 reached RMB 3,313,256,000, an increase of 4.5% from RMB 3,171,674,000 in 2021[65] - Net profit attributable to equity shareholders of the company was RMB 301,442,000, representing an increase of 11.8% compared to RMB 269,558,000 in the previous year[65][72] - Basic earnings per share for 2022 was RMB 0.28, up from RMB 0.25 in 2021[65] - The company achieved a pre-tax profit growth of 12.6% year-on-year[72] - The company reported a pre-tax profit of RMB 361.5 million, which is an increase of 12.6% compared to the previous year[91] - Net profit for the year reached RMB 302.5 million, reflecting an 11.7% year-on-year growth[91] Operating Costs and Expenses - Operating costs related to power engineering construction services rose to RMB 311.3 million, a 1.4% increase from RMB 307.1 million in the previous year[12] - Operating costs increased by 4.7% to RMB 2,740.9 million, primarily due to the expansion of general power supply business and increased electricity procurement from third-party suppliers[82] - Operating costs for general electricity business rose by 11.5% from RMB 1,840.4 million in 2021 to RMB 2,052.8 million in 2022, representing 74.9% of total operating costs[120] - Financial expenses rose by approximately 16.8% from RMB 7.3 million in 2021 to RMB 8.6 million in 2022, primarily due to foreign exchange losses[143] Asset Management and Investments - The company reported a significant reduction in asset impairment losses, down approximately 95.4% to about RMB 0.7 million, with no significant damage or operational halts in 2022[16] - Non-current assets totaled RMB 3,775,182 thousand in 2022, an increase from RMB 3,461,642 thousand in 2021, reflecting a growth of approximately 9.06%[106] - The total assets reached RMB 5,148,011 thousand in 2022, up from RMB 4,631,453 thousand in 2021, indicating a growth of about 11.14%[106] - The company constructed and put into operation over 580 charging piles in 2022, expanding its comprehensive energy business[95] - The company invested RMB 43.62 million in a two-year plan to address low voltage areas, enhancing service quality[96] Business Development and Strategy - The company aims to enhance the level of electricity access, focusing on improving service quality and expanding its market presence[6] - The company has established a strategic goal to build a "first-class modern comprehensive energy service enterprise in the western region" as part of its development strategy[72] - The company is focused on optimizing asset structure and expanding its comprehensive energy layout[72] - The company aims to create a new energy consumption and service pattern centered on electricity, ensuring safety, green energy, convenience, and efficiency[72] - Sichuan Energy plans to focus on enhancing power supply security and transformation development in alignment with the national "dual carbon" strategy[85] - The company anticipates further development in electricity sales, distributed energy, engineering construction, and integrated energy services due to the promotion of the Chengdu-Chongqing economic circle[79] Safety and Reliability - The company has not experienced any major power outages or significant safety incidents in 2022, maintaining a stable safety production situation[115] - The company reduced the number of power outages in the 10 kV grid by 30% year-on-year, enhancing service reliability[96] - Safety inspections identified 2,044 safety hazards, with RMB 4.2 million allocated for rectification efforts[115] - The company conducted 72 emergency drills involving over 800 participants to improve emergency management capabilities[115] Corporate Governance and Compliance - The company emphasizes effective communication with shareholders to enhance investor relations and provide timely information on business developments and financial performance[165] - The company has established procedures for identifying, handling, and disclosing inside information in compliance with relevant regulations[162] - The company’s remuneration and assessment committee is responsible for approving the remuneration policy for directors and senior management[150] - The company has adopted measurable targets for board diversity, including at least four independent non-executive directors[156] - The company has established a shareholder communication policy to enhance relationships and communication with shareholders[167] - The board of directors includes members with extensive experience in the energy sector, enhancing governance and oversight[170] - The company is committed to transparency by publishing operational and financial data on its website and the Hong Kong Stock Exchange[167] - The management team consists of professionals with advanced degrees and significant industry experience, contributing to strategic decision-making[173][175][178] Employee Engagement and Diversity - The company aims to ensure gender diversity in hiring practices, with male employees making up 77% and female employees 23% of the total workforce[154] - The company is committed to fostering a pipeline of potential female leaders for senior management and board succession[154] - The Nomination Committee reviewed board diversity and confirmed that the company has met measurable diversity objectives in professional experience, skills, knowledge, gender, age, and tenure[155] Performance and Operational Efficiency - The company has implemented a series of reforms to enhance operational efficiency and governance structures, including a comprehensive performance evaluation system for all employees[113] - The company is focusing on the integration of power generation assets and has established a unified management structure for its six core hydropower stations[113] - The company aims to enhance organizational construction and strengthen the cadre team to support high-quality development[133] - The management team is focused on enhancing operational efficiency and driving growth in the energy sector[173][175]

Financial Performance - The company achieved revenue of approximately RMB 3,313.3 million in 2022, representing a year-on-year growth of about 4.5%[31]. - The pre-tax profit for the year was approximately RMB 361.5 million, reflecting a year-on-year increase of about 12.6%[31]. - The net profit for 2022 was approximately RMB 302.5 million, which is a year-on-year growth of about 11.7%[31]. - The net profit attributable to equity shareholders of the parent company was approximately RMB 301.4 million, marking a year-on-year increase of about 11.8%[31]. - The company reported a basic earnings per share of RMB 0.28 for 2022, compared to RMB 0.25 in 2021[7]. - The company's operating revenue for the year ended December 31, 2022, was RMB 3,313,256,211.05, an increase of 4.46% compared to RMB 3,171,673,615.54 in 2021[192]. - The total profit for the year was RMB 361,545,939.02, up 12.58% from RMB 321,194,989.19 in the previous year[192]. - Net profit for 2022 reached RMB 302,548,693.75, representing a growth of 11.65% compared to RMB 270,917,104.67 in 2021[192]. - The company's investment income increased significantly to RMB 13,121,964.93, compared to RMB 5,468,716.24 in 2021, marking a growth of 139.66%[192]. Revenue Sources - Revenue from power engineering construction services and related businesses reached RMB 400.9 million, accounting for 12.1% of the main business revenue as of December 31, 2022[35]. - The company's main business revenue increased by approximately 4.5% from about RMB 3,165.8 million in 2021 to approximately RMB 3,309.6 million in 2022, primarily due to the growth in general power supply and power engineering construction services[42]. - Revenue from incremental power distribution business decreased by approximately 21.4% from about RMB 489.1 million in 2021 to approximately RMB 384.4 million in 2022, mainly due to a reduction in the scale of this business in 2022[43]. - General power supply business generated approximately RMB 2,524.3 million in revenue, accounting for about 76.3% of the main business revenue[60]. Operating Costs and Expenses - The total operating expenses for 2022 amounted to RMB 4,996,447.16, significantly higher than RMB 842,045.57 in 2021[6]. - The main business operating costs increased by approximately 4.7% from about RMB 2,617.7 million in 2021 to about RMB 2,740.9 million in 2022, primarily due to the expansion of general power supply operations[71]. - Operating costs for general power supply business increased by approximately 11.5% from RMB 1,840.4 million in 2021 to RMB 2,052.8 million in 2022, accounting for about 74.9% of total operating costs[88]. - The total operating costs for 2022 were RMB 2,740,916,362.02, up from RMB 2,619,736,947.46 in 2021, reflecting an increase of 4.61%[192]. Assets and Liabilities - The total assets at the end of 2022 amounted to approximately RMB 5,026.3 million, reflecting the company's investment in infrastructure and equipment[49]. - The total liabilities as of December 31, 2022, amounted to RMB 1,962,792,662.13, an increase from RMB 1,635,553,773.87 in 2021[195]. - The company's fixed assets as of December 31, 2022, amounted to approximately RMB 3,062.95 million, an increase from approximately RMB 2,785.05 million as of December 31, 2021[78]. - The company's intangible assets rose from approximately RMB 128.1 million in 2021 to RMB 149.5 million in 2022, mainly due to the acquisition of new land[99]. Investment and Future Plans - The company planned to invest RMB 991 million in power grid construction for the year, with an expected completion of RMB 876 million, achieving a completion rate of 88.41%[38]. - The group plans to accelerate the construction of high-voltage power networks with a total investment of RMB 300.5 million, expected to be completed by the end of 2023[111]. - The company plans to allocate 40% of the net proceeds from the global offering, approximately RMB 152.2 million, for the acquisition of power-related assets[105]. - The company aims to further develop its business in electricity sales, distributed energy, engineering construction, and integrated energy services due to the economic growth in the Sichuan province[55]. Dividends - The proposed final dividend for 2022 is RMB 0.12 per share, totaling RMB 128,922,924.00, consistent with the previous year's dividend[51][52]. - The final dividend will be subject to a 10% withholding tax for individual H-share shareholders residing in countries with a tax agreement with China that stipulates a lower tax rate[135]. - For individual H-share shareholders from countries without a tax agreement, a 20% withholding tax will be applied[136]. - The final dividend for H-share shareholders will be paid in HKD at a rate of HKD 0.13716 per share, based on the average exchange rate prior to the dividend declaration date[160]. Governance and Compliance - The company has adhered to the corporate governance code throughout the reporting period from January 1, 2022, to December 31, 2022[180]. - The audit committee has reviewed the financial statements for the year ended December 31, 2022, and confirmed compliance with applicable accounting standards and sufficient disclosure[171]. - The company is committed to maintaining transparency and accountability in its financial reporting and governance practices[171]. - The company has adopted the corporate governance code as its governance framework, ensuring compliance with all relevant provisions[180]. Safety and Risk Management - The company is committed to enhancing safety production measures and improving risk management in power distribution facilities[151]. - The company invested approximately RMB 4.2 million to rectify 2,044 safety hazards identified throughout the year[65]. - The company established a comprehensive safety production mechanism and signed the 2022 safety production responsibility letter, enhancing safety management capabilities[65]. Employee and Operational Management - Employee costs for the year amounted to approximately RMB 454.9 million, with a total of 2,828 full-time employees as of December 31, 2022[125]. - The company has implemented a 100% open recruitment ratio for new personnel and a 100% competitive coverage rate for management positions, promoting a market-oriented employment mechanism[71]. - The company aims to strengthen operational management with a focus on efficiency and service improvement for users[152]. Market and Strategic Development - The company aims to enhance power market development by improving customer quality and increasing marketing oversight, with a focus on eliminating mixed pricing and enhancing operational management[130]. - The company is committed to advancing power grid development, addressing issues such as insufficient power sources and bottlenecks, and plans to establish a new type of power grid with 220 kV as the backbone[132]. - The company is actively expanding financing channels and innovating financing methods to improve capital utilization efficiency and investment returns[130]. - The company is focusing on comprehensive energy development, leveraging local government resources to enhance core business and support market expansion[132].

Financial Performance - For the six months ended June 30, 2022, the total operating revenue was RMB 1,502,213,920.97, a decrease of 4.15% compared to RMB 1,567,464,633.06 for the same period in 2021[10]. - The total profit for the same period was RMB 158,898,304.34, down 4.54% from RMB 165,907,988.12 in 2021[10]. - Net profit attributable to shareholders was RMB 129,740,774.82, representing a decline of 6.56% from RMB 138,818,251.11 in the previous year[10]. - Operating revenue decreased by 4.2% from RMB 1,567.5 million in the six months ended June 30, 2021, to RMB 1,502.2 million in the same period of 2022, primarily due to a reduction in incremental electricity distribution business[23]. - Net profit for the six months ended June 30, 2022, was RMB 129,740,774.82, down from RMB 138,818,251.11 in the previous year, reflecting a decline of approximately 6.8%[89]. - The total comprehensive income for the six months ended June 30, 2022, was RMB 129,740,774.82, down from RMB 138,818,251.11 in the previous year, reflecting a decline of approximately 7.77%[90]. Assets and Liabilities - Total current assets increased to RMB 1,365,135,901.47 from RMB 1,169,811,050.92, marking an increase of 16.67%[10]. - Total non-current assets decreased slightly to RMB 3,442,316,937.59 from RMB 3,461,642,156.46, a decrease of 0.56%[10]. - Total assets reached RMB 4,807,452,839.06, up from RMB 4,631,453,207.38, indicating an increase of 3.81%[10]. - Total liabilities increased to RMB 1,811,977,032.79 from RMB 1,635,553,773.87, reflecting an increase of 10.77%[10]. - The group reported a current liability exceeding current assets by RMB 84,634,961.33 as of June 30, 2022, indicating potential liquidity concerns[101]. - The group has an unused bank credit line of RMB 2.401 billion, which supports its operational funding needs[101]. Revenue Breakdown - The company generated operating revenue of RMB 1,190.6 million from general power supply business, accounting for 79.3% of total operating revenue[18]. - Incremental power distribution business generated revenue of RMB 134.1 million, representing 8.9% of total operating revenue[19]. - Revenue from power engineering construction services and related businesses was RMB 177.4 million, making up 11.8% of total operating revenue[20]. - General electricity supply business revenue increased by 8.2% from RMB 1,100.4 million in the six months ended June 30, 2021, to RMB 1,190.6 million in the same period of 2022, driven by an increase of over 48,232 household and general commercial customers[24]. - Incremental electricity distribution business revenue decreased by 47.5% from RMB 255.4 million in the six months ended June 30, 2021, to RMB 134.1 million in the same period of 2022, due to a reduction in business scale[25]. Cost and Profitability - Total operating costs decreased by 5.2% from RMB 1,314.6 million in the six months ended June 30, 2021, to RMB 1,246.8 million in the same period of 2022, mainly due to the reduced scale of incremental electricity distribution business[27]. - Gross profit increased by 1.0% from RMB 252.9 million in the six months ended June 30, 2021, to RMB 255.4 million in the same period of 2022, primarily due to growth in gross profit from electricity engineering construction services[31]. - General electricity supply business gross profit decreased by 1.4% from RMB 210.9 million in the six months ended June 30, 2021, to RMB 207.9 million in the same period of 2022, with a corresponding gross margin decrease from 19.2% to 17.5%[32]. - Incremental electricity distribution business gross profit decreased by 21.3% from RMB 5.5 million in the six months ended June 30, 2021, to RMB 4.3 million in the same period of 2022, while gross margin increased from 2.1% to 3.2%[33]. Cash Flow and Investments - Operating cash flow generated from operating activities was RMB 9,698,758.07, a significant improvement compared to a negative cash flow of RMB (5,823,402.09) in the same period of 2021[91]. - Cash inflow from investment activities totaled RMB 436,413,495.78, compared to RMB 160,820,465.80 in the previous year, indicating a substantial increase of 171.5%[92]. - The net cash flow from financing activities was RMB 156,454,570.02, recovering from a negative cash flow of RMB (85,396,386.91) in the same period of 2021[92]. - The company reported cash and cash equivalents at the end of the period amounting to RMB 480,401,801.49, an increase from RMB 354,214,115.95 at the end of June 2021[92]. Employee and Labor Costs - The company had a total of 2,854 employees as of June 30, 2022, with labor costs approximately RMB 203.0 million, up from RMB 201.4 million in the same period of 2021[59]. - The company’s short-term employee compensation decreased to RMB 52,483,544.27 from RMB 111,845,999.83 in the previous year, a decline of 53.1%[17]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as of June 30, 2022, enhancing operational stability and transparency[68]. - The audit committee of the board has reviewed the company's interim report, including the unaudited financial statements for the six months ending June 30, 2022[83]. - The company has not granted any rights to directors or supervisors to purchase shares or bonds during the reporting period[65]. Strategic Initiatives and Future Outlook - The company is focusing on reform and innovation to enhance operational efficiency and has implemented a three-year reform action plan[22]. - The company aims to optimize the power grid structure and expand the "power + grid" development model as part of its strategic development plan[22]. - The company is committed to optimizing procurement management and enhancing the recycling system for waste materials[61]. - The company is expanding its comprehensive energy business, focusing on green and low-carbon energy, and developing integrated energy projects[63]. - The company is actively seeking market-oriented merger and acquisition opportunities to enhance capital operation capabilities[63].

Financial Performance - The company's operating revenue increased by 4.8% year-on-year, while the profit before tax rose by 5.1%[8] - The net profit attributable to equity shareholders of the parent company grew by 5.3% compared to the previous year, exceeding expected operational targets[8] - In 2021, the company's total revenue reached RMB 3,171.67 million, an increase of 4.85% from RMB 3,025.30 million in 2020[12] - The net profit for 2021 was RMB 270.92 million, representing a growth of 5.67% compared to RMB 257.20 million in 2020[12] - The company reported a total revenue of RMB 3,171.7 million for 2021, representing a year-on-year growth of 4.8%[15] - The pre-tax profit reached RMB 321.2 million, an increase of 5.1% compared to the previous year, while net profit was RMB 270.9 million, up by 5.3%[15] Assets and Liabilities - The total assets of the company as of December 31, 2021, amounted to RMB 4,631.45 million, up from RMB 4,491.62 million in 2020, indicating a growth of 3.12%[13] - The total liabilities of the company were RMB 1,635.55 million in 2021, showing a slight decrease from RMB 1,637.16 million in 2020[13] - Non-current assets totaled RMB 3,461.64 million in 2021, an increase from RMB 3,289.67 million in 2020, reflecting a growth of 5.22%[13] - Cash and cash equivalents rose to RMB 584.0 million as of December 31, 2021, up from RMB 500.8 million in 2020, with approximately RMB 300 million allocated for daily operations[45] - The total borrowings decreased from RMB 381.3 million in 2020 to RMB 313.3 million in 2021, with all borrowings subject to floating interest rates[45] Revenue Sources - The general power supply business generated revenue of RMB 2,300.5 million, accounting for 72.7% of the main business income[20] - Incremental power distribution business revenue was RMB 489.1 million, representing 15.4% of the main business income[21] - Revenue from power engineering construction services and related businesses was RMB 376.1 million, contributing 11.9% to the main business income[22] - Revenue from general electricity supply business rose by 9.3% from RMB 2,105.6 million in 2020 to RMB 2,300.5 million in 2021, with an increase of 11,542 residential users and 2,169 general commercial users[29] - Incremental electricity transmission and distribution revenue decreased by 5.2% from RMB 516.2 million in 2020 to RMB 489.1 million in 2021, attributed to reduced electricity demand from customers[29] Operational Developments - The company aims to enhance its business in electricity sales, distributed energy, engineering construction, and integrated energy services, leveraging the economic development in the Chengdu-Chongqing economic circle[14] - The company aims to transform into a modern integrated energy service provider, focusing on strategic planning and operational efficiency improvements[23] - The company has successfully developed a VR power safety training system, which has received copyright from the National Copyright Administration[23] - The company achieved a self-service and online payment ratio of 70% in 2021, with the establishment of convenient payment facilities[24] - The company is committed to enhancing safety production responsibilities and continuously improving its safety management standards[64] Employee and Governance - As of December 31, 2021, the company employed 2,880 full-time employees, a decrease from 3,006 employees as of December 31, 2020, with employee costs amounting to approximately RMB 421.4 million[57] - The board of directors consists of 11 members, including 4 non-executive directors who do not receive remuneration from the company[91] - The company has a strict division of responsibilities between the chairman and the general manager, with Mr. Xiong Lin serving as chairman and Mr. Li Hui as general manager[172] - The company emphasizes effective communication with shareholders to enhance investor relations and provide timely information[193] - The company maintains a high standard of corporate governance, ensuring effective management and fair treatment of all shareholders[159] Risk Management and Compliance - The company is committed to adapting to new economic and energy development trends while ensuring risk management and profitability[9] - The company has established a compliance management system focusing on key areas, forming a "1+3+1" compliance management framework[187] - The company strictly adheres to environmental protection laws and has received no non-compliance records during inspections by environmental authorities[137] - The company faces industry policy risks due to market reforms affecting coal-fired electricity pricing, which may impact its business model and profitability[142] - The company has not reported any significant changes in its corporate governance practices during the fiscal year ending December 31, 2021[78] Shareholder Matters - A final dividend of RMB 0.12 per share was proposed, totaling approximately RMB 128.9 million, subject to shareholder approval[47] - The final dividend payment is scheduled for July 20, 2022, pending shareholder approval at the annual general meeting[70] - The company will allocate 10% of its after-tax profits to the statutory reserve fund as per Chinese accounting standards before distributing dividends[69] - The company will pay dividends in RMB for domestic shareholders and in HKD for H-share shareholders, with the exchange rate set prior to the dividend declaration date[71] - The company has a significant shareholder structure, with the top three shareholders holding a combined 115,000,000 shares, which is approximately 10.69% of total shares[94] Related Party Transactions - The company engaged in related party transactions with its controlling shareholders, with all applicable percentage rates being below 5%[97] - The company entered into subcontracting agreements with Sichuan Energy Investment Construction Group Co., Ltd., involving payments of RMB 6,508,700 and RMB 6,295,600 for specific projects[98] - The company is actively engaging in related transactions as per the listing rules, ensuring compliance with regulations[106] - The independent non-executive directors confirmed that all related party transactions were conducted on fair and reasonable terms, in compliance with the Hong Kong Listing Rules[130] - The company has not reported any significant changes in its share capital during the fiscal year ending December 31, 2021[79] Future Plans and Strategies - The company aims to become a leading modern integrated energy service provider in China by the end of the "14th Five-Year Plan" period, focusing on deepening reforms and enhancing capital operation levels[62] - The company plans to optimize its power grid structure and expand the "power + grid" development model, transitioning to an integrated and intelligent new type of power grid[63] - The company is exploring market-oriented acquisition and investment opportunities to improve profitability and development prospects in the capital market[63] - The company is focused on expanding its operational capabilities through strategic contracts and partnerships in the energy sector[106] - The company is in a rapid development phase, with significant investment and acquisition projects underway, which will impact future growth if expected returns are not met[144]

Financial Performance - For the first half of 2021, Sichuan Energy Investment Development Co., Ltd. reported revenue of RMB 1,567.5 million, representing a year-on-year increase of 9.7%[8] - The total profit for the same period was RMB 165.9 million, reflecting a growth of 7.4% compared to the previous year[8] - Net profit for the first half of 2021 was RMB 138.8 million, which is a 3.4% increase year-on-year[8] - Total revenue increased by 9.7% from RMB 1,429.5 million for the six months ended June 30, 2020, to RMB 1,567.5 million for the six months ended June 30, 2021[20] - Revenue from general power supply business rose by 7.8% to RMB 1,100.4 million, accounting for 70.2% of total revenue[21] - Incremental power distribution business generated revenue of RMB 255.4 million, representing 16.3% of total revenue[15] - Revenue from power engineering construction services and related businesses was RMB 211.6 million, contributing 13.5% to total revenue[17] - The company achieved a 41.9% reduction in fault outages year-on-year, indicating improved service reliability[18] - Gross profit increased by 2.8% from RMB 246.0 million to RMB 252.9 million, while gross margin decreased from 17.2% to 16.1%[28] - Profit for the period increased by 3.4% from RMB 134.2 million to RMB 138.8 million[33] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 4,393.6 million, a decrease from RMB 4,491.6 million at the end of 2020[6] - Total liabilities were RMB 1,525.4 million, down from RMB 1,637.2 million at the end of 2020[6] - Shareholders' equity totaled RMB 2,868.2 million, slightly up from RMB 2,854.5 million at the end of 2020[6] - Cash and cash equivalents were RMB 354.2 million as of June 30, 2021, down from RMB 504.8 million on December 31, 2020[40] - Total borrowings amounted to RMB 313.9 million as of June 30, 2021, compared to RMB 383.2 million on December 31, 2020[40] - The debt-to-equity ratio improved to 10.9% on June 30, 2021, from 13.1% on December 31, 2020[42] Operational Metrics - The company has a stable user base and a comprehensive power supply network in Yibin City, optimizing the utilization of power resources[8] - The overall electricity consumption in China for the first half of 2021 was 3,933.9 billion kWh, a year-on-year increase of 16.2%[7] - The number of household customers increased by over 11,606, leading to a significant rise in electricity sales of 187,574.8 MWh[21] - Smart meter and data collection terminal coverage reached 99.1% and 100%, respectively, enhancing operational efficiency[18] - The company completed key projects, including the Xinhui Lianhua 220kV substation, contributing to ongoing infrastructure improvements[18] Financial Management - Financial expenses increased by 46.6% from RMB 9.6 million to RMB 14.1 million, mainly due to foreign exchange losses from forward foreign exchange contracts[30] - Total sales costs rose by 11.1% from RMB 1,183.4 million to RMB 1,314.6 million, primarily due to the expansion of general power supply and incremental power distribution businesses[23] - The average gross margin for the general power supply business decreased from 21.0% to 19.2%[12] - The gross profit margin for general power supply business decreased from 21.0% to 19.2% due to reduced purchases from low-cost power sources[29] - The gross profit for incremental power distribution business surged by 379.2% from RMB 1.1 million to RMB 5.5 million, attributed to higher margins from new business[29] Employee and Governance - The company had a total of 2,875 employees as of June 30, 2021, a decrease from 2,964 employees on June 30, 2020[52] - The board decided to change the financial reporting standards from International Financial Reporting Standards to Chinese Accounting Standards, effective April 20, 2021[53] - The company has adhered to all corporate governance codes and best practices as outlined in the listing rules during the reporting period[63] - The company is committed to maintaining effective communication with shareholders and investors to keep them informed about the latest business developments and financial performance[69] Future Outlook and Strategic Plans - The company aims to fully implement the three-year reform action plan and the 14th Five-Year Development Plan, ensuring all tasks are completed on time[56] - The company plans to enhance operational analysis and scientific load forecasting to maximize economic adjustments and improve core operating efficiency[56] - The company is focused on reducing accounts receivable and inventory capital occupation, ensuring that the growth rate of these does not exceed the growth rate of operating income[56] - The company is enhancing its talent development programs and optimizing the compensation structure to broaden career development opportunities for employees[56] Environmental and Safety Compliance - The company has not experienced any environmental pollution incidents and all operational power plants comply with domestic environmental regulations[50] - There were no employee, equipment, or network responsibility incidents reported during the six months ending June 30, 2021, and all operational power plants met safety production regulations[51] - The company is committed to ensuring safety production responsibilities are effectively implemented, with ongoing improvements in management systems and risk control measures[56] Shareholder Information - The board recommended not to declare any interim dividend for the six months ended June 30, 2021, compared to zero interim dividend in the previous year[47] - As of June 30, 2021, Sichuan Development (Holding) Co., Ltd. holds 39.03% of the total shares, while Sichuan Energy Investment Group Co., Ltd. holds 36.71%[74] - The company has no stock option plans in place for the six months ending June 30, 2021[71]

Financial Performance - In 2020, the company's electricity sales volume increased by 13.1% year-on-year[6] - Operating revenue rose by 22.1% compared to the previous year[6] - Profit before tax surged by 47.6% year-on-year[6] - Net profit attributable to shareholders grew by 52.7% compared to the previous year[6] - Earnings per share increased by 52.7% year-on-year[6] - In 2020, the company's revenue reached RMB 3,020,286,000, a 21.9% increase from RMB 2,472,733,000 in 2019[10] - The pre-tax profit for 2020 was RMB 318,637,000, up 47.6% from RMB 215,884,000 in 2019[10] - The net profit attributable to equity shareholders was RMB 269,142,000, representing a 52.7% increase compared to RMB 176,249,000 in 2019[10] - The basic earnings per share for 2020 was RMB 0.25, an increase from RMB 0.16 in 2019[10] - Net profit reached RMB 270.1 million in 2020, marking a 52.2% year-on-year increase[13] Revenue Breakdown - The general power supply business generated revenue of RMB 2,105.5 million, accounting for 69.7% of total revenue[17] - Incremental power distribution business revenue was RMB 516.2 million, contributing 17.1% to total revenue[18] - Revenue from power engineering construction services and related businesses was RMB 398.6 million, representing 13.2% of total revenue[19] - Revenue increased by 22.1% from RMB 2,472.7 million in 2019 to RMB 3,020.3 million in 2020, driven by higher electricity sales to residential and large industrial customers[23] - General electricity supply business revenue rose by 9.2% to RMB 2,105.5 million in 2020, accounting for 69.7% of total revenue[24] - Incremental electricity distribution revenue surged by 174.1% to RMB 516.2 million in 2020, primarily due to increased customer demand[25] Financial Stability - The total assets of the company as of December 31, 2020, amounted to RMB 4,491,617,000, slightly up from RMB 4,480,138,000 in 2019[11] - The company's total liabilities decreased to RMB 1,637,159,000 in 2020 from RMB 1,788,106,000 in 2019, indicating improved financial stability[11] - The debt-to-asset ratio improved to 13.1% as of December 31, 2020, compared to 21.7% as of December 31, 2019[51] Operational Efficiency - The company focused on cost control and management, enhancing budget planning and reducing operational costs[20] - The reliability of the power supply improved, with a reduction in power outages from 238 times in 2019 to 216 times in 2020, a decrease of approximately 9.24%[21] - Gross profit increased by 22.3% from RMB 442.4 million in 2019 to RMB 541.0 million in 2020, with a stable gross margin of 17.9%[31] Strategic Initiatives - The company aims to enhance its risk management and profitability while optimizing its industrial structure during the "14th Five-Year Plan" period[7] - The company is focusing on expanding its business in electricity sales, distributed energy, engineering construction, and integrated energy services[12] - The company aims to become a leading modern comprehensive energy service provider by the end of the "14th Five-Year Plan" period, focusing on enhancing operational efficiency and service levels[65] - The company is exploring mixed-ownership reform and expanding into integrated energy investment projects, including electric vehicle charging infrastructure[66] Shareholder Relations - Sichuan Energy Investment Development Co., Ltd. proposed a final dividend of RMB 0.12 per share for the year ended December 31, 2020, totaling approximately RMB 128,922,924[71] - The company will distribute 10% of its after-tax profits to the statutory reserve fund as per Chinese accounting standards before any dividend payments[70] - The final dividend payment is subject to approval at the annual general meeting and is expected to be paid by July 19, 2021[71] Governance and Compliance - The company has adopted corporate governance principles and has complied with all relevant codes from January 1, 2020, to December 31, 2020[160] - The board of directors consists of 11 members, with independent non-executive directors making up over one-third of the board, ensuring compliance with independence standards[165] - The company emphasizes effective communication with shareholders to enhance investor relations and provide timely and accurate information regarding business developments and financial performance[190] Social Responsibility - The company has a commitment to social responsibility, contributing to economic development and environmental protection[156] - The company strictly adheres to environmental protection laws and has implemented measures to reduce energy consumption and emissions during its operations[140] Future Outlook - The company has provided a positive outlook for the next quarter, projecting a revenue increase of 10% to 60 million, driven by new product launches and market expansion efforts[198] - New product development is underway, with an investment of 5 million allocated for research and development in innovative technologies[199] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[200]

Financial Performance - Total revenue for the first half of 2020 reached RMB 1,425,628,000, an increase of 23.8% compared to RMB 1,150,429,000 in the same period of 2019[10] - Profit before tax was RMB 160,419,000, up 33.9% from RMB 119,857,000 year-on-year[10] - Net profit attributable to shareholders was RMB 140,577,000, representing a 39.4% increase from RMB 100,827,000 in the previous year[10] - Basic earnings per share increased to RMB 0.13, compared to RMB 0.09 in the same period last year[10] - The company's operating profit for the same period was RMB 174,206,000, up 19.6% from RMB 145,590,000 in the previous year[114] - Net profit increased from RMB 101.8 million for the six months ended June 30, 2019, to RMB 140.2 million for the six months ended June 30, 2020[50] - The company reported a profit of RMB 140,577 thousand for the six months ended June 30, 2020, compared to a profit of RMB 100,827 thousand for the same period in 2019, indicating a year-over-year increase of approximately 39.4%[128] Revenue Breakdown - The general power supply business generated revenue of RMB 1,016.8 million, accounting for 71.3% of total revenue, with a year-on-year increase of 9.0%[30] - The incremental power distribution business reported revenue of RMB 182.8 million, contributing 12.8% to total revenue, with a significant year-on-year growth of 157.4%[24] - Revenue from power engineering construction services and related businesses was RMB 226.0 million, making up 15.9% of total revenue, reflecting a 54.0% increase year-on-year[25] - Total revenue from electricity business and sales of electrical equipment for the six months ended June 30, 2020, was RMB 1,199,647 thousand, an increase of 19.5% compared to RMB 1,003,659 thousand in 2019[142] - Revenue from power engineering construction services increased to RMB 220,452 thousand, up 57.8% from RMB 139,599 thousand in the previous year[142] Asset and Liability Management - Total assets as of June 30, 2020, amounted to RMB 4,622,212,000, up from RMB 4,480,138,000 at the end of 2019[10] - Current liabilities increased to RMB 1,730,640,000 from RMB 1,468,003,000 year-on-year[10] - The total non-current assets were RMB 3,203,254,000, slightly down from RMB 3,214,344,000 at the end of 2019[10] - The debt-to-asset ratio was 22.1% as of June 30, 2020, up from 21.7% as of December 31, 2019[62] - Total liabilities decreased to RMB 166,760 thousand as of June 30, 2020, from RMB 320,103 thousand at the end of 2019, indicating a significant reduction of approximately 47.9%[123] Operational Efficiency - The company implemented several measures to ensure stable growth, including enhancing operational management and accelerating project construction[26] - The company is focusing on expanding its market presence and enhancing its operational efficiency in response to the changing energy landscape in China[12] - The company is focusing on automation upgrades for power stations and substations to improve operational efficiency[79] - The company aims to strengthen risk management and compliance to enhance operational efficiency and safety[26] Cost Management - Total sales cost increased by 25.5% from RMB 942.7 million for the six months ended June 30, 2019, to RMB 1,183.4 million for the six months ended June 30, 2020, primarily due to the expansion of general power supply and incremental power distribution businesses[34] - Gross profit increased from RMB 207.7 million for the six months ended June 30, 2019, to RMB 242.2 million for the six months ended June 30, 2020, while gross margin decreased from 18.1% to 17.0%[40] - General power supply business gross profit rose by 15.6% from RMB 181.8 million to RMB 210.2 million, with gross margin increasing from 19.5% to 20.7%[41] - Incremental power distribution business gross profit decreased by 84.3% from RMB 7.2 million to RMB 1.1 million, mainly due to seasonal fluctuations in the power market[42] Employee and Administrative Costs - Administrative expenses decreased from RMB 81.5 million to RMB 76.5 million, mainly due to reductions in employee costs and office expenses[45] - Employee costs for the period were RMB 173,184 thousand, slightly down from RMB 183,322 thousand in the same period of 2019[146] - As of June 30, 2020, the company employed 2,964 staff, a decrease from 3,034 employees as of June 30, 2019[75] Compliance and Risk Management - The company has established a compliance management system and is enhancing internal control mechanisms to mitigate significant risks[93] - The company is committed to risk management, particularly regarding operational risks influenced by national policies and hydrological conditions[86] - The company is exposed to compliance risks related to connected transactions following its successful listing on the Hong Kong Stock Exchange[90] Shareholder and Investor Relations - Major shareholders include Sichuan Development (Holding) Co., Ltd. with 39.03% of total shares and Sichuan Energy Investment Group Co., Ltd. with 36.71%[99] - The company emphasizes the importance of maintaining effective communication with shareholders and investors to enhance transparency regarding business developments and financial performance[94] - The company is focused on expanding investor relations activities to provide better services to investors in the future[96] Environmental and Safety Compliance - The company had no environmental pollution incidents during the six months ended June 30, 2020, and all operational power stations complied with national environmental regulations[73] - The company reported no accidents involving employees, equipment, or the power grid during the same period, adhering to safety production regulations[74] Future Plans and Investments - The company plans to enhance flood prevention measures and ensure stable power supply operations in the second half of 2020[79] - The company intends to pursue mergers and acquisitions of quality power grid assets to increase scale and create new profit growth points[79] - The company is in a development phase with significant investment projects underway, which will be crucial for its future growth[88]

Financial Performance - Total revenue for the year increased by 21.7% compared to the previous year[27] - General electricity supply revenue grew by 10.7% year-on-year[27] - Incremental electricity transmission and distribution revenue surged by 731.1% compared to last year[27] - Revenue from electric engineering construction services and related businesses rose by 33.8% year-on-year[27] - Net profit attributable to shareholders increased by 4.1% compared to the previous year[27] - The company's revenue for 2019 was RMB 2,472,733,000, representing a 21.7% increase from RMB 2,031,095,000 in 2018[36] - The pre-tax profit for 2019 was RMB 215,884,000, up from RMB 198,117,000 in 2018, indicating an increase of 8.9%[36] - The net profit attributable to equity shareholders was RMB 176,249,000, compared to RMB 169,150,000 in 2018, reflecting a growth of 4.3%[36] - Revenue increased by 21.7% from RMB 2,031.1 million in 2018 to RMB 2,472.7 million in 2019, driven by higher electricity sales to residential and industrial customers[56] - General power supply business revenue rose by 10.7% to RMB 1,927.3 million in 2019, accounting for 78.0% of total revenue[57] - Incremental power distribution business revenue surged by 729.5% to RMB 188.3 million, with approximately 32 new customers added in 2019[60] - Revenue from power engineering construction services increased by 33.7% to RMB 357.1 million, attributed to more projects undertaken in 2019[61] Operational Efficiency - The company reduced the total number of power outages to 2,569 times in 2019, a decrease of approximately 28.2% compared to 3,580 times in 2018, indicating improved reliability[51] - The average time for handling user electricity connection services was reduced to no more than 40 working days, with overall efficiency improved by over 30%[52] - The company completed the construction of 14 centralized control stations, with 78 out of 79 substations operating unmanned[51] - The company conducted 126 training sessions for professional skills, with a pass rate of 99.91% among 1,125 participants[52] Strategic Goals - The company aims to enhance its risk control capabilities and optimize asset structure in 2020[28] - The management team is focused on maintaining profitability and accelerating transformation and upgrading[28] - The company plans to strengthen its governance structure and improve operational stability[28] - The goal is to become a leading modern comprehensive energy service provider in China[28] - The company expresses confidence in achieving high-quality development with the support of shareholders[28] - The company aims to reduce electricity purchase costs and expand its business in electricity sales, distribution, and integrated energy services[38] - The company plans to continue expanding its incremental power distribution business and enhance its engineering service capabilities in the future[59] - The company plans to accelerate the construction of the 220 kV main power grid, including investments in new substations, to enhance supply reliability and operational efficiency[111] Financial Position - Total assets as of December 31, 2019, amounted to RMB 4,480,138,000, a slight increase from RMB 4,381,192,000 in 2018[36] - The company's total liabilities were RMB 1,788,106,000, which is relatively stable compared to RMB 1,782,553,000 in 2018[36] - Cash and cash equivalents decreased from RMB 798.0 million in 2018 to RMB 780.5 million in 2019[94] - Total borrowings decreased from RMB 764.3 million in 2018 to RMB 591.8 million in 2019, with all borrowings subject to floating interest rates[94] - The company has no contingent liabilities as of December 31, 2019, maintaining a stable financial position[108] Shareholder Information - The company proposed a final dividend of RMB 0.1 per share for the year ended December 31, 2019, totaling approximately RMB 107.4 million[98] - The company will withhold a corporate income tax of 10% on final dividends distributed to non-resident corporate shareholders listed in the H-share register[125] - For individual H-share shareholders residing in regions with a tax agreement with China, the withholding tax rate will be 10%[128] - The final dividend will be distributed on June 28, 2020, to shareholders listed in the register as of June 22, 2020[130] - Public shareholders held at least 25% of the company's issued share capital as of the report date, meeting the listing rules requirements[199] Corporate Governance - The company had no business or interests from directors, supervisors, or senior management that could compete with the group’s business as of December 31, 2019[150] - The company reported no conflicts of interest among its directors, supervisors, and senior management regarding their holdings[150] - The company’s board of directors confirmed that there were no other disclosures required under the listing rules for the year ended December 31, 2019[162] - The company engaged in related party transactions that complied with the listing rules but were exempt from independent shareholder approval[164] Environmental and Social Responsibility - The company strictly adhered to environmental protection laws and regulations, achieving compliance with no violations reported during inspections by local environmental authorities[198] - The company reported external donations amounting to RMB 167,900 for the year ended December 31, 2019[138]