证券代码：600163 证券简称：中闽能源 公告编号：2022-005 中闽能源股份有限公司 关于接待机构调研情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 中闽能源股份有限公司（以下简称"公司"）于 2022 年 3 月 16 日通过电话 会议交流形式接待了机构调研，现将情况公告如下： 一、 调研情况 时间：2022 年 3 月 16 日 10:00-11:00 调研方式：电话会议 调研机构名称及人员：华泰证券研究所公用事业研究院 研究员 黄波 公司接待人员：董事会秘书 段静静 投资者关系主管 张仅 二、交流的主要问题及公司回复概要 1、公司 2021 年度经营业绩增长的主要原因是什么？ 答：公司 2021 年度经营业绩增长的主要原因是由于本期公司售电量增加， 营业收入相应增加。营业收入增加的主要原因为公司马头山风电场、王母山风电 场、大帽山风电场、青峰风电场二期项目于 2020 年陆续建成投产，报告期内前 述项目全年全容量并网发电；平海湾海上风电场二期项目于报告期内实现全容量 并网发电，并网风机数量较去年 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥270,036,898.63, representing a year-on-year increase of 24.02%[6] - The net profit attributable to shareholders for the same period was ¥74,710,324.75, reflecting a growth of 25.72% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥73,217,732.83, up by 23.55% year-on-year[6] - Total operating revenue for the first three quarters of 2021 reached ¥1,001,247,229.79, a significant increase of 50.9% compared to ¥663,509,074.79 in the same period of 2020[24] - Net profit attributable to shareholders of the parent company was ¥390,080,228.21, up 95.0% from ¥200,120,096.60 in the previous year[26] - Operating profit for the first three quarters of 2021 was ¥454,114,572.42, representing a 76.7% increase from ¥256,822,377.70 in 2020[24] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥10,804,903,278.98, an increase of 3.97% from the end of the previous year[9] - The total current assets reached CNY 2,718,536,931.27, up from CNY 2,414,214,976.29, indicating a growth of about 12.6% year-over-year[19] - The total liabilities decreased to CNY 5,922,158,280.64 from CNY 6,628,489,378.44, a reduction of approximately 10.7%[21] - The total non-current assets amounted to CNY 8,086,366,347.71, slightly up from CNY 7,978,514,061.07, showing a growth of about 1.4%[19] Equity and Earnings - The equity attributable to shareholders increased to ¥4,733,231,041.24, marking a significant rise of 30.81% compared to the previous year[9] - The basic earnings per share for the period was ¥0.0431, up 22.44% year-on-year, while diluted earnings per share was ¥0.0432, an increase of 13.09%[6] - The weighted average return on equity was 1.8139%, an increase of 0.002 percentage points from the previous year[6] Cash Flow - The company reported a net cash flow from operating activities of ¥527,698,056.52 for the year-to-date, reflecting a 19.08% increase compared to the previous year[6] - Cash flow from operating activities for the first three quarters of 2021 was ¥527,698,056.52, an increase from ¥443,159,669.37 in 2020[29] - The company reported a net cash outflow for the purchase of fixed assets of ¥333,161,236.76, a decrease from ¥690,721,469.02 in the previous year[29] - The net cash flow from investing activities was -$511.65 million, a decrease from -$690.52 million in the previous period[31] - The net cash flow from financing activities was -$218.38 million, a decline from $710.81 million in the prior period[31] Operational Highlights - The increase in operating revenue was primarily driven by the commissioning of new wind power projects, including the Fuzhou Damaoshan and Pingtan Qingfeng wind farms[10] - The company has seen a significant increase in net profit due to the rise in operating revenue, indicating strong operational performance[10] - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in Q3 2021[42] - User data showed a growth of 20% in active users, totaling 5 million by the end of the quarter[42] - New product launches contributed to a 25% increase in sales, with three new energy solutions introduced in the market[42] Strategic Initiatives - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[42] - Research and development expenses increased by 18%, focusing on innovative energy technologies[42] - The company announced a strategic acquisition of a local competitor, expected to enhance market capabilities and increase revenue by 5% annually[42] - The company plans to invest 200 million RMB in infrastructure development over the next two years[42] Customer and Market Metrics - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of new service initiatives[42] - The gross margin improved to 35%, up from 30% in the previous quarter, due to cost optimization strategies[42]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥731,210,331.16, representing a 64.03% increase compared to ¥445,765,789.53 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached ¥315,369,903.46, a significant increase of 124.15% from ¥140,695,386.91 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥314,784,459.27, up 159.19% from ¥121,447,742.18 year-on-year[22]. - The net cash flow from operating activities was ¥358,749,053.91, an increase of 107.23% compared to ¥173,116,422.75 in the same period last year[22]. - The company achieved operating revenue of CNY 731,210,331.16, a 64.03% increase compared to the same period last year, and net profit of CNY 344,659,155.56, up 113.03% year-over-year[39]. - The company’s total profit reached CNY 373,311,401.82, reflecting a 101.14% increase compared to the previous year[39]. - The company reported a total comprehensive income for the first half of 2021 of ¥344,659,155.56, compared to ¥161,785,287.08 in the previous year, indicating strong overall performance[158]. Earnings and Shareholder Returns - Basic earnings per share increased by 124.13% to CNY 0.1867 compared to the same period last year[25]. - Diluted earnings per share rose by 116.00% to CNY 0.1769 year-on-year[25]. - The company plans to distribute cash dividends amounting to at least 30% of the average annual distributable profits over the next three years, contingent on profitability and cash flow conditions[95]. - For the first half of 2021, the company reported a net profit attributable to shareholders of 159.87 million RMB, which is part of the adjusted performance commitment of 278.30 million RMB for the year[106]. Assets and Liabilities - Total assets as of the end of the reporting period amounted to ¥10,734,530,845.18, reflecting a 3.29% increase from ¥10,392,729,037.36 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company at the end of the reporting period were ¥3,933,353,672.68, an increase of 8.71% from ¥3,618,314,334.56 at the end of the previous year[22]. - Total liabilities increased to ¥6,642,146,206.97, up from ¥6,628,489,378.44, reflecting a slight growth of 0.21%[146]. - Total current assets increased to ¥688,559,911.70 from ¥560,987,335.31, representing a growth of approximately 22.7%[150]. Operational Highlights - The company's total power generation reached 1,300,574.6 MWh, a year-on-year increase of 50.89%[31]. - Total installed capacity of the company reached 849,300 kW, with wind power accounting for 829,300 kW and solar power 20,000 kW[28]. - The average utilization hours for wind power equipment increased by 88 hours to 1,212 hours[31]. - The average utilization rate for wind power improved to 96.4%, an increase of 0.3 percentage points year-on-year[31]. Investment and Expansion - The company signed a framework agreement to develop a 1,000,000 kW renewable energy base project in Fuyuan City, aiming to include it in the provincial renewable energy construction plan[34]. - The company plans to expand its investment opportunities in the fishing-solar complementary projects within Fujian Province[38]. - The company is positioned to benefit from China's carbon neutrality goals, with plans to expand its renewable energy projects[31]. Risks and Challenges - The company faced risks related to electricity pricing, with potential impacts on revenue and profitability if projects do not connect to the grid by December 31, 2021[56]. - The company is actively coordinating with stakeholders to ensure the completion of the Putian Pinghai Bay offshore wind project by the end of 2021[56]. - Risks during project construction include adverse weather, supplier issues, and quality control, which could lead to delays or cost overruns[59]. Environmental and Social Responsibility - The company is committed to reducing carbon emissions through its renewable energy initiatives, contributing significantly to energy conservation and emission reduction[76]. - The company adhered to environmental laws and regulations, with no environmental pollution incidents reported during the reporting period[75]. - The company actively participated in social welfare initiatives, including a total expenditure of 9,000 yuan for relief supplies to 30 households in need[77]. Corporate Governance and Compliance - The company ensures that any future related party transactions will adhere to market principles and legal regulations, ensuring fairness and transparency[83]. - The company has no significant litigation or arbitration matters during the reporting period[99]. - The company maintains a good integrity status, with no outstanding legal obligations or significant debts due[99].

证券代码：600163 证券简称：中闽能源 公告编号：2021-028 债券代码：110805 债券简称：中闽定 01 债券代码：110806 债券简称：中闽定 02 中闽能源股份有限公司 关于参加 2021 年度福建上市公司投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步加强与投资者的互动交流，使广大投资者能更深入全面地了解中闽 能源股份有限公司（以下简称"公司"）情况，公司将参加由福建证监局与福建 省上市公司协会、深圳市全景网络有限公司举办的"2021 年度福建上市公司投 资者网上集体接待日活动"。现将有关事项公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台采取网络远程的方式进行，投资者可以登录"全景网投资者关系互动平 台"（http://ir.p5w.net/）参与本次投资者网上集体接待日活动，网上互动交 流时间为 2021 年 5 月 14 日（星期五）15:30 至 17:00。 欢迎广大投资者积极参与。 特此公告。 中闽能源股份有限 ...

2021 年第一季度报告 公司代码：600163 公司简称：中闽能源 债券代码：110805 债券简称：中闽定 01 债券代码：110806 债券简称：中闽定 02 中闽能源股份有限公司 2021 年第一季度报告 1 / 25 2021 年第一季度报告 í 二、 三、 四、 lm 录 | --- | |----------------| | | | 重要拠示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 25 2021 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司董事长张骏、总经理郭政、主管会计工作负责人游莉及会计机构负责人（会计主管人员） 俞宙保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-------------------------- ...

Financial Performance - In 2020, the company's net profit attributable to shareholders was CNY 485,887,518.81, while the parent company's net profit was CNY 83,372,035.61[7]. - The company's operating revenue for 2020 was CNY 1,252,012,734.94, representing a 74.42% increase compared to 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 485,887,518.81, a 151.95% increase from the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 466,272,642.33, showing a 214.76% increase year-on-year[23]. - The company's total assets at the end of 2020 reached CNY 10,392,729,037.36, a 15.19% increase from 2019[23]. - The weighted average return on net assets for 2020 was 14.47%, an increase of 6.9981 percentage points compared to 2019[26]. - The company's cash flow from operating activities for 2020 was CNY 782,723,698.73, an 11.60% increase from 2019[23]. - The company's basic earnings per share for 2020 was CNY 0.2876, a 151.84% increase from 2019[26]. - The company reported a total revenue of 2,409.72 million RMB and a net profit of 602.44 million RMB for the year 2020[103]. - The company reported a net profit of approximately 485.89 million yuan for 2020, with no dividends distributed, reflecting a 0% payout ratio[131]. Profit Distribution and Retained Earnings - As of the end of 2020, the cumulative distributable profits for the parent company and consolidated statements were negative, at CNY -1,389,476,802.04 and CNY -574,775,700.88 respectively[7]. - The company plans not to distribute profits or increase capital reserves for the year 2020 due to negative distributable profits[7]. - The company has not proposed any capital increase from reserves due to the lack of distributable profits[7]. - The company plans to distribute at least 30% of the average distributable profit over the next three years as cash dividends, depending on annual profit conditions[154]. - In mature stages without major capital expenditures, cash dividends should account for at least 80% of profit distribution[154]. - The company will consider industry characteristics and operational factors when proposing differentiated cash dividend policies[154]. Operational Efficiency and Management - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[6]. - The company has implemented 33 new or revised management regulations to enhance operational efficiency and standardization[52]. - The company aims to enhance its operational management and improve equipment utilization to minimize unplanned outages and maximize efficiency[114]. - The company has committed to ensuring the independence of its senior management, including the general manager and financial officer, by not holding positions in other companies controlled by the same party[134]. - The company guarantees the establishment of an independent financial department and accounting system, ensuring independent financial decision-making and tax compliance[134]. Project Development and Capacity - The installed capacity of the company’s wind power projects was 798,300 kW, while the photovoltaic projects had an installed capacity of 20,000 kW as of December 31, 2020[32]. - The company completed the acquisition of 100% equity in Zhongmin Haidian, enhancing its offshore wind power business and increasing its market share in Fujian province[40]. - The company is actively pursuing project development and high-quality project acquisitions to enhance its sustainable growth capabilities[45]. - The company has 14.4 million kW of capacity under construction, including 11.4 million kW for the Phase II offshore wind project[84]. - The company plans to expand its market presence in both wind and solar energy sectors, leveraging the growth in installed capacity nationwide[77]. Environmental and Safety Commitments - The company has maintained a zero-accident record during the reporting period, emphasizing its commitment to safety[52]. - The company emphasizes safety and environmental protection, aiming for zero accidents, zero injuries, and zero pollution in its operations[111]. - The cumulative power generation reached 2,304,176,400 kWh, saving approximately 718,800 tons of standard coal compared to similar thermal power enterprises[192]. - The company reduced carbon dioxide emissions by 1,896,200 tons, sulfur dioxide by 8,986.5 tons, nitrogen oxides by 8,295.2 tons, and particulate matter by 1,843,500 tons[192]. Risks and Challenges - The company has detailed potential risks and countermeasures in its report, particularly in the section discussing future development[9]. - Construction risks for wind and other renewable energy projects include adverse weather, supplier issues, and labor shortages, which could lead to project delays and cost overruns[121]. - Natural disaster risks, such as typhoons and extreme weather, could adversely affect the company's projects located in vulnerable regions[124]. - The COVID-19 pandemic has caused delays in equipment supply and project timelines, but the operational efficiency of existing power generation units remains largely unaffected[125]. - The renewable energy price subsidy in China is facing delays, impacting cash flow for power generation companies due to a growing funding gap for subsidies[119]. Financial Instruments and Investments - The company successfully completed the issuance of 560 million yuan in convertible bonds to support asset acquisition and project financing[51]. - The company issued 689,837,758 shares and 2,000,000 convertible bonds to acquire 100% equity of Zhongmin Haidian, with the registration completed on February 26, 2020[96]. - The company plans to pay interest on the convertible bonds annually, with rates starting at 0.2% in the first year and increasing to 1.5% in the fourth year[200]. - The company raised RMB 560 million through a convertible bond issuance, with net proceeds of RMB 555.5 million after fees, allocated for intermediary costs, the Phase II project of the Pinghai Bay offshore wind farm, and working capital[185]. Market and Industry Trends - The overall electricity consumption in China increased by 3.1% in 2020, with total electricity consumption reaching 7.51 trillion kWh[35]. - In 2020, the total installed capacity of renewable energy in China reached 934 million kilowatts, a year-on-year increase of approximately 17.5%[36]. - The newly added wind power installed capacity in 2020 was 71.67 million kilowatts, setting a historical record, with onshore wind power accounting for 68.61 million kilowatts and offshore wind power 3.06 million kilowatts[36]. - The company is focused on expanding its business in line with national renewable energy development policies and the "Belt and Road" initiative[110]. - Since 2019, competition in the renewable energy sector has intensified, particularly in the development of wind and solar projects, with companies vying for project rights in resource-rich areas[120].

2020 年第三季度报告 | --- | --- | --- | --- | |-------------------|-------|-------|-----------------------| | | | | | | | | | | | 公司代码： 600163 | | | 公司简称：中闽能源 | | 债券代码： 110805 | | | 债券简称：中闽定 01 | | 债券代码： 110806 | | | 债券简称：中闽定 02 | 中闽能源股份有限公司 2020 年第三季度报告 1 / 22 2020 年第三季度报告 一、 重要提示 二、 公司基本情况. 三、 重要事项 附录 四、 m 录 2 / 22 2020 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司董事长张骏、总经理王坊坤、主管会计工作负责人潘炳信及会计机构负责人（会计主管 人员）张荔平保证季度报告中财务报表的真 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 445,765,789.53, representing a 52.32% increase compared to CNY 292,641,299.71 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached CNY 140,695,386.91, a significant increase of 155.81% from CNY 54,998,905.37 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was CNY 121,447,742.18, up 93.82% from CNY 62,659,870.26 year-on-year[23]. - The basic earnings per share for the first half of 2020 was CNY 0.0833, an increase of 155.52% compared to CNY 0.0326 in the same period last year[26]. - The diluted earnings per share rose to CNY 0.0819, reflecting a 160.00% increase from CNY 0.0315 year-on-year[26]. - The weighted average return on net assets increased to 4.3391%, up by 2.3697 percentage points from 1.9694% in the previous year[26]. - The total assets of the company at the end of the reporting period were CNY 9,446,374,527.37, a 4.70% increase from CNY 9,021,938,039.29 at the end of the previous year[23]. - The net cash flow from operating activities was CNY 173,116,422.75, a decrease of 34.11% compared to CNY 262,719,051.50 in the same period last year[23]. - The net assets attributable to shareholders of the listed company were CNY 3,226,916,816.29, showing a slight decrease of 0.96% from CNY 3,258,037,732.77 at the end of the previous year[23]. Business Operations - The company has no profit distribution plan or capital reserve transfer plan for the first half of 2020[7]. - As of June 30, 2020, the company's installed capacity reached 707,500 kW, with wind power accounting for 687,500 kW and solar power for 20,000 kW[32]. - The company reported a non-recurring gain of CNY 19,247,644.73, primarily from the net profit of subsidiaries from the beginning of the merger to the merger date[28]. - The total power generation in the first half of 2020 was 3.36 trillion kWh, a year-on-year decrease of 1.4%, while wind power generation increased by 10.9% to 237.9 billion kWh[32]. - The company’s business model includes the acquisition of quality wind and solar power project assets for operational management post-merger[32]. - The company completed the acquisition of 100% equity in Minhai Electric, expanding its business scope to include offshore wind power[32]. - The company completed the acquisition of 100% equity in Zhongmin Haidian, enhancing its offshore wind power business and further leveraging its regional competitive advantages[40]. - The company has actively expanded its project portfolio, including the completion of multiple wind power projects and the ongoing development of biomass power generation projects[40]. Market Position and Strategy - The company holds a 16.77% market share in wind power capacity in Fujian Province, with significant projects completed and under construction to enhance its competitive position[32]. - The company is strategically positioned in Fujian province, benefiting from superior wind resources and a growing demand for electricity[40]. - The company is actively pursuing project development outside Fujian, focusing on regions with abundant renewable energy resources and favorable transmission conditions[69]. - The company recognizes the competitive landscape for wind and solar projects, which will require strategic resource acquisition and potential mergers and acquisitions to enhance capacity and scale[69]. Financial Management - The company successfully implemented a major asset restructuring, raising a total of CNY 560 million through the issuance of convertible bonds[40]. - The company plans to enhance project feasibility assessments and cost-benefit analyses to mitigate the impact of new electricity pricing policies on profitability[68]. - The company aims to explore multi-energy complementary operating models and develop energy storage projects to participate in auxiliary services[72]. - The company will prioritize providing business opportunities related to asset operations and mergers to the listed company[81]. - The company has established a commitment to maintain independent financial accounting and management systems[78]. Risks and Challenges - The company is facing risks related to the construction of new energy projects due to supply chain disruptions caused by the pandemic, potentially delaying project timelines[70]. - The company has not experienced wind abandonment or electricity limitation issues in Fujian Province, but projects in Heilongjiang and Hami, Xinjiang still face such risks, which negatively impact revenue[69]. - The company is monitoring the dynamics of the offshore wind industry closely to ensure timely completion of the Putian Pinghai Bay offshore wind farm project by the end of 2021[68]. Corporate Governance - The company has committed to maintaining the independence of its management and financial personnel, ensuring no dual roles or salary payments from related entities[78]. - The company guarantees to avoid any direct or indirect control over competing entities during its period as the controlling shareholder of the listed company[81]. - The company will take effective measures to prevent any competition with the listed company from its controlled entities[81]. Community Engagement - The company is actively participating in poverty alleviation efforts, including donations and support for local communities[122]. - The company provided assistance to 30 households in Youxi Village during the Spring Festival, totaling RMB 10,225.04 in aid[123]. Audit and Compliance - The company has engaged Huaxing Accounting Firm for the 2020 audit, with no non-standard audit reports issued[98]. - There were no major litigation or arbitration matters during the reporting period[98]. - The company has no major accounting errors that require retrospective restatement during the reporting period[137]. - The company has no environmental information disclosure issues as it primarily engages in clean energy development and operation[133]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 26,811[142]. - The largest shareholder, Fujian Investment Development Group, holds 1,161,550,784 shares, representing 68.76% of total shares[142]. - The second largest shareholder, Straits Industry Investment Fund, increased its holdings by 689,837,758 shares during the reporting period[142]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the smallest among them holding 4,540,000 shares, which is 0.27%[143].

Financial Performance - Operating revenue for the period was ¥220,739,989.41, representing a year-on-year increase of 17.78%[11] - Net profit attributable to shareholders was ¥79,512,180.33, up 37.55% from the same period last year[11] - Basic earnings per share rose to ¥0.0471, a 37.72% increase year-on-year[11] - Total operating revenue for Q1 2020 was CNY 220,739,989.41, an increase of 17.7% compared to CNY 187,425,085.36 in Q1 2019[39] - Net profit for Q1 2020 reached CNY 88,785,920.88, representing a 42.4% increase from CNY 62,380,291.08 in Q1 2019[41] - Total comprehensive income for Q1 2020 was CNY 88,785,920.88, up from CNY 62,380,291.08 in Q1 2019[41] Cash Flow - Net cash flow from operating activities decreased by 58.95% to ¥92,960,112.52 compared to the previous year[11] - The company's cash flow from operating activities decreased by 49.03% to ¥152,795,296.96, mainly due to the absence of fund transactions with the controlling shareholder[20] - The net cash flow from operating activities decreased to ¥92,960,112.52 in Q1 2020, down from ¥226,436,251.63 in Q1 2019, indicating a decline of about 59%[52] - The cash inflow from financing activities for Q1 2020 was ¥78,343,531.85, compared to ¥1,099,431,292.53 in Q1 2019, representing a decrease of about 92.9%[52] Assets and Liabilities - Total assets at the end of the reporting period reached ¥9,038,346,006.35, an increase of 0.18% compared to the end of the previous year[11] - Current assets totaled approximately 1.92 billion, up from 1.89 billion year-over-year, driven by an increase in accounts receivable which rose to approximately 741.19 million from 630.42 million[28] - Total liabilities increased to approximately 5.76 billion from 5.66 billion, with current liabilities decreasing to approximately 2.07 billion from 2.21 billion[31] - Long-term borrowings rose to approximately 2.31 billion from 2.27 billion, indicating a strategic move to leverage debt for growth[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 27,977[14] - The largest shareholder, Fujian Investment Development Group Co., Ltd., holds 68.76% of the shares[14] Investment Activities - Investment activities cash outflow decreased by 77.21% to ¥102,298,646.11, reflecting reduced payments for construction projects compared to the previous year[20] - The company completed the registration of 689,837,758 shares and 2,000,000 convertible bonds for the acquisition of 100% equity in Fujian Zhongmin Offshore Wind Power Co., Ltd. on March 30 and 31, 2020[23] Future Outlook - Future outlook remains cautiously optimistic, with plans for market expansion and potential acquisitions to enhance growth opportunities[32]

Financial Performance - In 2019, the parent company achieved a net profit of CNY 154,416,307.50, while the consolidated net profit attributable to shareholders was CNY 150,522,027.11[6] - The company's operating revenue for 2019 was CNY 580,751,341.10, representing a year-on-year increase of 10.81% compared to CNY 524,103,638.60 in 2018[22] - The net profit attributable to shareholders for 2019 was CNY 150,522,027.11, reflecting a growth of 15.47% from CNY 130,352,331.57 in 2018[22] - The net cash flow from operating activities increased by 21.30% to CNY 411,004,498.20 in 2019, up from CNY 338,831,598.59 in 2018[22] - The net profit after deducting non-recurring gains and losses for 2019 was CNY 148,133,883.20, which is a 13.81% increase from CNY 130,157,275.42 in 2018[22] - The company reported a profit before tax of CNY 210.19 million, an increase of 16.22% from the previous year[61] - The company achieved a total operating revenue of CNY 580.75 million in 2019, representing a year-on-year increase of 10.81%[60] - The company reported a total revenue of 57,448.84 million RMB, with a year-on-year increase of 10.12%[86] Distributable Profit and Dividend Policy - As of the end of the reporting period, the cumulative distributable profit for the parent company was negative CNY 1,472,848,837.65, and for the consolidated entity, it was negative CNY 1,161,545,210.37[6] - The company plans not to distribute profits or increase capital reserves due to the negative distributable profit situation[6] - The company has not proposed any cash profit distribution plans despite having positive profits available for distribution[131] - The company’s net profit for 2019 was CNY 150,522,027.11, which represents 0% of the profit allocated to ordinary shareholders[128] - The company did not distribute profits or increase capital reserves in 2018 due to negative cumulative profits available for distribution, with a net profit of CNY 130,352,331.57 for that year[128] - The company will distribute cash dividends amounting to at least 30% of the average distributable profit over the next three years, with specific minimum ratios based on the company's development stage and capital expenditure plans[150] Operational and Strategic Plans - The company plans to continue expanding its renewable energy projects, focusing on wind and solar power, to drive future growth[33] - The company is actively developing new projects, including the 30 MW biomass power generation project in Hulin City, which has received approval from the provincial development and reform commission[60] - The company plans to generate 2,410.03 million kWh in 2020, including an additional 1,082.88 million kWh from ongoing wind power projects[117] - The projected operating revenue for 2020 is approximately 1,309.90 million CNY, representing a year-on-year growth of 125.55%[117] - The company is focusing on expanding its business in offshore wind power, solar energy, and other clean energy sectors, in line with national development strategies[113] Risk Management and Compliance - The report includes a detailed discussion of potential risks and countermeasures related to the company's future operations[8] - The company faces risks related to electricity price fluctuations, with new policies potentially impacting revenue and profitability for new wind and solar projects[119] - The company will focus on project feasibility assessments and cost-benefit analyses to mitigate the impact of new electricity pricing policies on profitability[119] - The company will enhance safety management and disaster response capabilities to mitigate risks from extreme weather conditions[125] Environmental Impact and Sustainability - The company reduced carbon dioxide emissions by 957,100 tons, sulfur dioxide by 4,636.3 tons, nitrogen oxides by 418.73 tons, and particulate matter by 930,400 tons during the reporting period[186] - The company has not reported any environmental information as a key pollutant discharge unit during the reporting period[187] - The company is committed to increasing its investment in poverty alleviation and innovative support methods in response to the COVID-19 pandemic[184] Shareholder Structure and Governance - The largest shareholder, Fujian Investment Development Group, holds 471,713,026 shares, accounting for 47.20% of the total shares[194] - The company has not disclosed any changes in the number of ordinary shares or the structure of its shareholders during the reporting period[190] - The actual controller is the Fujian Provincial Government State-owned Assets Supervision and Administration Commission[198] - The company has committed to maintaining independence in management and financial operations, ensuring no overlap with controlling entities[133] Related Party Transactions - The company reported a total of 545.94 million RMB in related party transactions, primarily for office space rental and insurance fees[162] - The company has engaged in fair related party transactions based on market prices, ensuring no harm to minority shareholders[161] Acquisitions and Investments - The company plans to acquire 100% equity of Fujian Zhongmin Offshore Wind Power Co., Ltd. from its controlling shareholder through the issuance of shares and convertible bonds, with approval from the China Securities Regulatory Commission received on December 13, 2019[178] - The company made an equity investment of RMB 20 million in its wholly-owned subsidiary and RMB 60 million in a joint venture during the reporting period[101] Community Engagement - The company donated 5,000 RMB to Limen Central Primary School to improve reading conditions for students in poverty-stricken areas[180] - The company provided 11,988 RMB in relief supplies to impoverished households in Youxi Village, Guangze County[180] - The total amount spent on poverty alleviation activities during the reporting period was 89,697.72 RMB, prioritizing the purchase of products from key poverty alleviation counties[180]