Financial Performance - The audited net assets of the company for 2022 were negative, which may lead to a delisting risk warning from the Shanghai Stock Exchange[6]. - The company has proposed no profit distribution for the reporting period[5]. - The company has received an unqualified audit report with an emphasis on matters related to going concern uncertainty[4]. - The company's operating revenue for 2022 was ¥7,129,130,027.62, an increase of 8.44% compared to ¥6,574,339,046.18 in 2021[21]. - The net profit attributable to shareholders of the listed company was -¥2,025,913,522.59, worsening from -¥1,915,875,970.47 in the previous year[21]. - The basic earnings per share for 2022 was -¥1.3703, compared to -¥1.3037 in 2021[22]. - The weighted average return on equity was -165.83%, a decrease of 165.83 percentage points from 3.94% in 2020[22]. - The company reported a decrease in net profit attributable to shareholders after deducting non-recurring gains and losses by ¥1.10 billion, primarily due to high coal prices and increased asset impairment provisions[22][23]. - Operating revenue increased by 8.44% year-on-year to 7.13 billion RMB, while total profit decreased by 1.98 billion RMB to -2.39 billion RMB[43][45]. Operational Highlights - The company’s total electricity generation in 2022 reached 16.590 billion kWh, with main business revenue of 7.086 billion CNY[31]. - The average selling price of electricity increased by 59.20 CNY/MWh, contributing an additional 0.805 billion CNY to revenue[32]. - The company reduced ineffective electricity generation by 1.835 billion kWh, resulting in a loss reduction of 0.14 billion CNY[31]. - The company signed long-term coal contracts covering 12.65 million tons, achieving significant cost control[32]. - The company achieved auxiliary service revenue of 0.361 billion CNY, an increase of 0.238 billion CNY year-on-year[31]. - The company is actively optimizing coal procurement and controlling costs to mitigate the impact of high coal prices on profitability[22]. Asset and Liability Management - The total assets decreased by 9.91% to ¥18,871,367,234.43 from ¥20,946,277,330.45 in 2021[21]. - The total liabilities at the end of the reporting period amounted to 20.986 billion yuan, an increase of 0.315 billion yuan compared to the previous period[66]. - The company's asset-liability ratio exceeds 100%, affecting credit ratings and financing costs, which limits investment capabilities and complicates transformation efforts[93]. - The company's total equity as of December 31, 2022, was -2,114.27 million, with equity attributable to the parent company at -1,797.47 million, indicating significant financial distress[169]. Governance and Compliance - The company is enhancing its internal control and compliance risk management to improve overall governance and operational efficiency[97]. - The company has revised its governance documents to ensure compliance with legal and regulatory requirements, enhancing operational standards[96]. - The company is committed to ensuring the independence of its assets, personnel, and operations from its controlling shareholder, China Huadian Corporation[98]. - The company is focused on enhancing its governance structure by appointing independent directors with diverse backgrounds[109]. - The company is committed to maintaining transparency and accountability in its governance practices[112]. Environmental and Social Responsibility - The company invested 195.12 million yuan in environmental protection during the reporting period[149]. - The company achieved a dust emission of 192.42 tons, sulfur dioxide emission of 1,153.37 tons, and nitrogen oxides emission of 2,329.44 tons, all meeting the discharge permit requirements[150]. - The company has established a comprehensive environmental management information system, including monitoring records and pollution control facility management[155]. - The company reported a reduction of 1,695,373 tons of carbon dioxide equivalent emissions through various operational efficiency measures[158]. - Total investment in social responsibility projects amounted to 1.0948 million yuan, benefiting 1,170 individuals through targeted assistance programs[159]. Future Strategies - The company plans to enhance coal supply through long-term contracts and explore additional coal sources domestically and internationally[42]. - The company aims to achieve a GDP growth rate of around 5% in Liaoning Province for 2023, with total electricity consumption expected to reach 2,627.32 billion kWh, a year-on-year increase of 3%[88]. - The company plans to optimize its asset structure and focus on clean and low-carbon transformation, while enhancing its competitive strength through innovation and efficient economic practices[89]. - The company is focused on expanding its market presence through strategic initiatives and potential establishment of new subsidiaries[130]. - The company plans to increase investment in wind power project construction as part of its future strategy[131]. Related Party Transactions - The company reported a total of 793,775,259.99 RMB in related party transactions during the reporting period[186]. - The company incurred a litigation amount of 742,712,500 RMB related to a civil judgment received in November 2022[183]. - The company has ongoing engineering service agreements with multiple related parties, including 15,837,149.72 RMB with Nanjing Guodian Nanzi Weimide Automation Co., Ltd[186]. - The company’s financial transactions with related parties did not adversely affect its operational results or financial condition[192].

2023 年第一季度报告 证券代码：600396 证券简称：金山股份 沈阳金山能源股份有限公司 2023 年第一季度报告 重要内容提示 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增 减变动幅度(%) | | --- | --- | --- | | 营业收入 | 2,026,773,048.34 | -7.21 | | 归属于上市公司股东的净利润 | -253,342,397.75 | 46.98 | | 归属于上市公司股东的扣除非经 | -259,820,950.17 | 46.46 | | 常性损益的净利润 | | | | 经营活动产生的现金流量净额 | -693,694,936.83 | -1,325.79 | | 基本每股收益（元/股 ...

2022 年第三季度报告 证券代码：600396 证券简称：金山股份 沈阳金山能源股份有限公司 2022 年第三季度报告 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法律责任。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 1 / 16 单位：元 币种：人民币 项目 本报告期 本报告期比 上年同期增 减变动幅度 (%) 年初至报告期末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 1,628,187,937.80 22.00 5,049,575,829.19 10.90 归属于上市公司股东的净利润 -524,451,093.05 不适用 -1,297,978,466.84 不适用 归属于上市公司股东的扣除非 ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 3.42 billion, representing a 6.30% increase compared to CNY 3.22 billion in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was a loss of approximately CNY 773.53 million, worsening from a loss of CNY 315.56 million in the previous year[20]. - The net cash flow from operating activities increased by 14.52% to approximately CNY 439.06 million, compared to CNY 383.39 million in the same period last year[20]. - The basic earnings per share for the first half of 2022 was CNY -0.5252, compared to CNY -0.2143 in the same period last year[22]. - The company reported a non-recurring profit of approximately ¥18.34 million, with a tax impact of ¥1.6 million and minority interest impact of ¥4.12 million[25]. - The company achieved a total electricity generation of 747,278.19 million kWh, a decrease of 13.35% year-on-year[36]. - The net profit of Tieling Company decreased by 92.35% year-on-year, primarily due to a significant increase in coal prices and fuel costs[49]. - The net profit of Dandong Thermal Power Company decreased by 488.35% year-on-year, also attributed to rising coal prices and increased fuel costs[49]. - The company reported a significant lawsuit involving a claim of RMB 7,448,630.17 related to unpaid coal payments, with a total potential liability of RMB 7,636,881.25[75]. Assets and Liabilities - The total assets decreased by 6.91% to approximately CNY 19.50 billion, down from CNY 20.95 billion at the end of the previous year[21]. - The net assets attributable to shareholders were negative at approximately CNY -559.66 million, a decline of 380.28% from CNY 199.68 million at the end of the previous year[21]. - The company's total assets decreased from CNY 20,946,277,330.45 to CNY 19,498,198,421.20, a reduction of approximately 6.92%[108]. - Total liabilities decreased from CNY 20,670,345,694.48 to CNY 20,048,829,997.76, a decline of about 3.00%[108]. - The company's total non-current liabilities amounted to CNY 1,717,708,010.60, an increase from CNY 1,279,990,453.13 in the previous year[112]. Operational Efficiency - The average utilization hours of the company's thermal power units in Liaoning were 1,119 hours, which is 532 hours lower than the provincial average[30]. - The average utilization hours of thermal power units in the Northeast grid were 1,651 hours, reflecting a year-on-year decrease of 200 hours[30]. - The company’s heat supply reached 14.15 million GJ, covering a heating area of 72.79 million square meters[30]. - The coal procurement cost for coal-fired power plants increased by approximately ¥200 billion year-on-year due to high coal prices, significantly impacting profitability[31]. - The company achieved a 20% increase in on-grid electricity prices compared to the benchmark price, enhancing economic efficiency in power generation and heating[32]. Cash Flow and Investments - The company's investment activities generated a net cash flow of -286,949,716.53 yuan, a decrease of 84.93% year-on-year[38]. - The company reported a bank deposit balance of RMB 789,554,651.61, with interest income from current deposits amounting to RMB 4,691,567.28, an increase from RMB 4,098,654.12 in the same period last year[86]. - The company received CNY 3,108,295,425.03 in borrowings during the first half of 2022, up from CNY 1,953,000,000.00 in the same period of 2021[124]. - Cash flow from investing activities showed a net outflow of approximately ¥287 million, worsening from a net outflow of ¥155 million in the previous year[122]. Related Party Transactions - The total amount of related party transactions during the reporting period reached RMB 765,001,450.25, primarily from coal procurement[77]. - The largest single transaction was coal procurement from Huadian Global (Beijing) Trade Development Co., Ltd., amounting to RMB 720,911,211.63[77]. - The company provided financing leasing services amounting to RMB 148,639,100.31 to Huadian Financing Leasing Co., Ltd.[82]. - The company has provided a total of RMB 1,356,500,000.00 in funds to related parties, with RMB 249,000,000.00 already repaid by the end of the reporting period[90]. Governance and Compliance - The company has established independent financial and operational structures to ensure compliance with regulatory requirements and maintain operational autonomy from its parent group[72]. - The company is committed to maintaining independent financial decision-making and tax compliance, ensuring no shared banking accounts with related parties[72]. - The company guarantees that it will not engage in illegal occupation of Kingsoft's funds or assets, and will not request any form of guarantees from Kingsoft[71]. - The company has a robust governance structure in place, including independent boards and management teams, to uphold corporate governance standards[72]. Environmental Compliance - The company achieved a total emission of 89.6 tons of smoke, 548.74 tons of sulfur dioxide, and 1058.89 tons of nitrogen oxides, all meeting the total emission requirements of the pollution discharge permit[57]. - The dust removal facilities operated at a 100% operational rate with an efficiency greater than 99.9%, while the denitrification facilities had a 97.5% operational rate and an efficiency of 86.90%[58]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 97,473[99]. - The largest shareholder, Huadian Energy Co., Ltd., held 308,061,649 shares, accounting for 20.92% of the total shares[99]. - The company did not experience any changes in its share capital structure during the reporting period[97]. Accounting Policies - The accounting policies comply with the requirements of enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[145]. - The company's accounting currency is Renminbi (CNY)[147]. - The consolidated financial statements are prepared based on the financial statements of the parent company and its subsidiaries, following relevant accounting standards[152].

证券代码：600396 证券简称：金山股份 沈阳金山能源股份有限公司 2022 年第一季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 2022 年第一季度报告 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增 | | --- | --- | --- | | | | 减变动幅度(%) | | 营业收入 | 2,184,316,175.52 | 7.81 | | 归属于上市公司股东的净利润 | -477,830,159.55 | -1,766.77 | | 归属于上市公司股东的扣除非经 | -485,285,270.45 | -2,1 ...

Financial Performance - The company's operating revenue for 2021 was CNY 6,574,339,046.18, a decrease of 9.77% compared to CNY 7,286,516,130.81 in 2020[21]. - The net profit attributable to shareholders of the listed company was a loss of CNY 1,920,001,439.10, a decline of 2,449.42% from a profit of CNY 81,722,213.97 in 2020[22]. - The net cash flow from operating activities decreased by 86.91% to CNY 139,151,529.90 from CNY 1,062,920,380.12 in the previous year[22]. - Basic earnings per share decreased to -1.3037 CNY from 0.0555 CNY in the previous year, a decline of 2,449.01%[23]. - Operating revenue for the year was 6.574 billion yuan, a decrease of 9.77% year-on-year, while the total profit was -2.191 billion yuan, a decrease of 22.28 billion yuan[46][48]. - The net profit attributable to shareholders was -1.920 billion yuan, a decrease of 20.02% year-on-year, with a cumulative coal consumption of 299.99 grams/kWh[46]. - Operating costs increased by 20.04% year-on-year to 7.706 billion yuan, primarily due to rising coal prices[49][50]. Assets and Liabilities - The total assets at the end of 2021 were CNY 20,946,277,330.45, an increase of 2.40% from CNY 20,454,753,752.51 at the end of 2020[22]. - The net assets attributable to shareholders of the listed company decreased by 90.56% to CNY 199,679,230.86 from CNY 2,115,996,968.71 at the end of 2020[22]. - The company's total liabilities amounted to 20.670 billion yuan, an increase of 2.627 billion yuan, primarily due to new loans[73]. - The company's asset-liability ratio exceeds 95%, leading to increased financing pressure due to significant profit decline from rising coal prices[99]. Operational Strategies - The company implemented effective operational strategies to mitigate the impact of high coal prices, including optimizing operational strategies and enhancing communication with government departments[34]. - The company plans to optimize its operational strategies to mitigate losses from high coal prices and improve efficiency in power generation[50][56]. - The company is focusing on enhancing equipment management and safety measures to ensure stable and efficient operations in both coal and renewable energy sectors[45]. Environmental Compliance - The company achieved a total emission of 192.48 tons of particulate matter, 1200.80 tons of sulfur dioxide, and 2569.51 tons of nitrogen oxides in 2021[1]. - The company’s dust removal facilities have an operational rate of 100% with an efficiency greater than 99.9%, while the desulfurization facilities also have a 100% operational rate with an efficiency of 98.46%[2]. - The company’s coal-fired power plants have completed ultra-low emission upgrades, ensuring compliance with stringent emission standards[4]. - The company has established a comprehensive environmental management information system, regularly updating and uploading data to the pollution permit management platform[7]. Governance and Compliance - The company emphasizes the importance of legal compliance and governance efficiency in its operational strategy[97]. - The company has established a transparent performance evaluation system and incentive mechanisms for senior management, linking their compensation to performance outcomes[148]. - The company has revised its related party transaction management measures to ensure compliance and timely review of transactions[155]. - The company has established independent financial management systems to ensure operational autonomy from Huadian Group[179]. Market and Growth Initiatives - The company is actively expanding its heating market to create new profit growth points[96]. - The company plans to enter two new international markets by Q3 2024, aiming for a 5% increase in overall revenue[119]. - The company completed a strategic acquisition valued at 500 million, expected to enhance its product offerings[117]. - The company is investing 200 million in R&D for new technologies aimed at enhancing operational efficiency[118]. Employee and Management Changes - The total number of employees in the parent company is 529, while the total number of employees in major subsidiaries is 2,574, resulting in a combined total of 3,103 employees[140]. - The company has appointed new senior management personnel, including the hiring of Wei Ning as Vice General Manager and Liu Wei as Vice General Manager and General Counsel[135]. - The company conducted 47 training sessions throughout the year, achieving a training plan completion rate of 100%, with a total of 5,241 participants[143]. Related Party Transactions - The company reported a total of 3,857,815,311.23 RMB in related party transactions, primarily for coal procurement and engineering services[189]. - The company provided services to various subsidiaries, with the highest service revenue from Huadian Qingdao Environmental Technology Co., Ltd. at CNY 652,477.37[191]. - The company had a receivable balance of CNY 44,705,237.65 from Fuxin Baiyinhua Coal Sales Co., Ltd. at the end of the reporting period[193].

证券代码：600396 证券简称：金山股份 沈阳金山能源股份有限公司 2021 年第三季度报告 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。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 2021 年第三季度报告 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同 期增减变动幅度(%) | 年初至报告期末 | 年初至报告 期末比上年 | | --- | --- | --- | --- | --- | | | | | | 同期增减变 动幅度(%) | | 营业收入 | 1,334,582,190.03 | -24.18 | 4,553,329,480.10 | -12.25 | | 归属 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,218,747,290.07, a decrease of 6.13% compared to CNY 3,428,954,628.73 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of CNY 315,561,051.59, a decline of 405.39% compared to a profit of CNY 103,332,025.82 in the previous year[20]. - The net cash flow from operating activities increased by 196.29% to CNY 383,389,569.13 from CNY 129,394,624.20 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 19,819,386,490.16, down 3.11% from CNY 20,454,753,752.51 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 14.60% to CNY 1,807,132,830.10 from CNY 2,115,996,968.71 at the end of the previous year[20]. - Basic earnings per share for the first half of 2021 were -CNY 0.2143, a decrease of 405.27% compared to CNY 0.0702 in the same period last year[21]. - The weighted average return on net assets was -16.09%, a decrease of 21.03 percentage points from 4.94% in the previous year[21]. - The company's main business profit decreased significantly, with a total profit of -¥353,371,253.56, compared to a profit of ¥101,332,892.74 in the previous year[42]. - The company's total profit for the first half of 2021 was a loss of CNY 353,371,253.56, compared to a profit of CNY 101,332,892.74 in the same period of 2020[131]. Operational Challenges - The company faced significant external pressures, including a substantial increase in coal prices, which negatively impacted profitability[21]. - The company adjusted its operating strategy in response to rising coal prices, resulting in a decrease in power generation compared to the previous year[21]. - The average coal price (including tax) increased by 70.75% year-on-year in the first half of the year, leading to expanded losses for thermal power enterprises[57]. - The company faced a rigid coal supply gap of 150 million tons in Liaoning Province, exacerbating coal supply pressures and contributing to rising coal prices[57]. - Future net profit is expected to decline significantly due to persistently high coal prices[37]. Electricity Generation and Supply - In the first half of 2021, the company's electricity generation decreased by 6.66% to 862,394.84 million kWh, while the on-grid electricity decreased by 7.5% to 765,355.83 million kWh[31]. - The total heat supply in the first half of 2021 was 1,332.16 million GJ, a decline of 2.51% year-on-year[31]. - The total electricity sales in the Northeast power grid reached 1,999.27 billion kWh, an increase of 11.70% year-on-year[27]. - Wind power generation in the Northeast power grid increased by 22.69% to 457.36 billion kWh, accounting for 16.62% of total generation[27]. - The average utilization hours of thermal power units in Liaoning province increased by 182 hours to 1,919 hours[30]. - The average utilization hours of wind power increased by 125 hours to 1,321 hours in the first half of 2021[27]. Environmental Management - The company has implemented measures to monitor emissions and comply with environmental regulations, ensuring all thermal power units have obtained pollution discharge permits[64]. - The company received administrative penalties totaling RMB 1.63 million due to water pollution exceeding national standards and failure to conduct risk assessments for environmental incidents[70]. - The company has implemented measures to reduce carbon emissions, including boiler efficiency improvements and the development of a carbon emission management plan[72]. - All thermal power units have achieved ultra-low emissions for air pollutants, reflecting the company's commitment to environmental management[66]. - The company has established emergency response plans for environmental incidents and conducts regular drills[68]. - The company has complied with environmental laws and regulations, ensuring that construction projects undergo necessary environmental impact assessments[67]. Financial Position and Investments - The total assets at the end of the reporting period amounted to 19.819 billion yuan, a decrease of 636 million yuan compared to the end of the previous year[48]. - The company made investments totaling 57.892 million yuan during the reporting period, a decrease of 55.428 million yuan compared to the same period last year[52]. - Significant investments included 20 million yuan in Fuxin New Energy Power Generation and 35 million yuan in Inner Mongolia Huadian Jinyuan New Energy[53]. - The company has a total of CNY 470,000,000.00 in loans from China Huadian Group Co., Ltd., reflecting its financing strategy[94]. - The company has a total guarantee amount of ¥386,645,367.42, which accounts for 21.40% of the company's net assets[108]. Related Party Transactions - The company reported a total of 783,772,929.29 RMB in related party transactions during the reporting period[89]. - The company engaged in coal procurement transactions amounting to 446,591,972.65 RMB with related parties during the reporting period[89]. - The company has a receivable balance of CNY 1,276,683.04 from China Huadian Financial Co., Ltd. at the end of the reporting period, indicating ongoing financial interactions[94]. - The company has incurred technical service fees of 731,320.76 RMB from related parties, indicating ongoing collaboration in technical development[89]. - The company has established various related party transactions, including consulting services, with amounts varying from 8,479.24 RMB to 2,688.68 RMB[91]. Corporate Governance - The company has established a sound corporate governance structure with independent and complete organizational architecture[80]. - The company ensures that its shareholders' meetings, board of directors, independent directors, supervisory board, and management team exercise their powers independently according to laws and regulations[80]. - The company has committed to not directly invest in new thermal power projects in Liaoning Province to avoid competition with its subsidiary[75]. - The company guarantees that any necessary related transactions with Kingsoft will follow fair pricing principles and will not harm Kingsoft's interests[78]. - The company has established a complete and independent labor, personnel, and compensation management system for Kingsoft, ensuring no interference in personnel appointments[79]. Legal Matters - The company is involved in ongoing litigation regarding claims for auxiliary service fees totaling 32,061,800 RMB for the heating periods from 2019 to 2021[86]. - The company has requested compensation for losses due to contract termination amounting to 346,734,500 RMB, which reflects a significant financial impact[86]. - The company has ongoing legal proceedings related to a civil judgment regarding a previous case, with the court ruling in favor of the company on June 2, 2021[85]. - There are no significant lawsuits or arbitration matters reported during the reporting period[83]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[128]. - The company is actively pursuing financing solutions to address funding challenges amid a difficult coal supply environment[40]. - The company is focusing on technological innovation and carbon emission management to enhance operational efficiency[36]. - The company is actively pursuing a green and low-carbon transformation strategy as part of its long-term development goals[72].

Financial Performance - Operating income increased slightly by 0.15% to CNY 2,026,071,013.47 year-on-year[7] - Net profit attributable to shareholders decreased significantly by 84.74% to CNY 28,667,957.37 compared to the same period last year[7] - Basic and diluted earnings per share dropped by 84.71% to CNY 0.0195[7] - Total profit, net profit, and net profit attributable to shareholders decreased by 170.45 million yuan, 163.81 million yuan, and 159.18 million yuan, with declines of 77.72%, 91.28%, and 84.74% respectively[15] - Net profit for Q1 2021 was CNY 15,646,195.98, a significant decrease of 91.3% compared to CNY 179,453,275.77 in Q1 2020[33] - The net profit attributable to shareholders of the parent company was CNY 28,667,957.37 in Q1 2021, down from CNY 187,843,214.05 in Q1 2020, reflecting a decline of 84.7%[34] - Financial expenses for Q1 2021 were CNY 177,865,611.88, up from CNY 167,581,103.99 in Q1 2020, indicating an increase of 7.7%[33] - Investment income for Q1 2021 was CNY 7,139,274.27, down from CNY 11,815,344.22 in Q1 2020, a decline of 39.5%[33] Cash Flow - Cash flow from operating activities increased by 242.86% to CNY 432,718,103.87 year-to-date[7] - Cash flow from operating activities increased by 116 million yuan due to the recovery of overdue heating fees and reduced operational payables[17] - The net cash flow from operating activities for Q1 2021 was ¥432,718,103.87, a significant increase from ¥126,208,469.67 in Q1 2020, representing a growth of approximately 242%[39] - The total cash inflow from operating activities was ¥1,749,495,905.55, compared to ¥1,736,971,002.91 in the same period last year, showing a slight increase of about 0.7%[39] - The cash outflow from investing activities was ¥222,507,974.98 in Q1 2021, down from ¥292,585,954.28 in Q1 2020, indicating a reduction of approximately 24%[40] - The net cash flow from investing activities improved to -¥89,921,974.98 in Q1 2021 from -¥291,468,454.28 in Q1 2020, reflecting a positive change of about 69%[40] - Cash inflow from financing activities decreased to ¥2,225,595,987.87 in Q1 2021 from ¥2,551,362,545.39 in Q1 2020, a decline of approximately 13%[40] - The net cash flow from financing activities turned negative at -¥493,094,103.61 in Q1 2021, compared to a positive net flow of ¥251,708,346.93 in Q1 2020[40] Assets and Liabilities - Total assets decreased by 2.81% to CNY 19,880,489,741.72 compared to the end of the previous year[7] - Total liabilities decreased from CNY 18,043,267,514.98 to CNY 17,444,616,892.19, a reduction of approximately 3.3%[27] - Total assets as of March 31, 2021, were approximately 19.88 billion yuan, a decrease from 20.45 billion yuan at the end of 2020[26] - Current assets decreased from CNY 977,160,833.69 to CNY 748,970,953.41, representing a decrease of approximately 23.3%[30] - Non-current liabilities decreased from CNY 1,084,338,478.74 to CNY 1,012,914,603.53, a reduction of about 6.6%[31] - Total equity increased from CNY 2,411,486,237.53 to CNY 2,435,872,849.53, an increase of approximately 1.0%[27] - Cash and cash equivalents decreased from CNY 350,892,254.35 to CNY 290,149,909.10, a decline of about 17.3%[29] - Accounts receivable increased from CNY 151,004,268.13 to CNY 181,048,746.87, an increase of approximately 19.9%[30] - Inventory decreased from CNY 28,427,433.38 to CNY 17,639,756.85, a reduction of about 37.9%[30] Shareholder Information - The number of shareholders reached 77,395, with the top three shareholders holding a combined 58.07% of shares[10] - The company has an undistributed profit of -¥836,755,508.55, indicating a negative retained earnings situation[47] Future Outlook - The company forecasts a decline in cumulative net profit for the next reporting period compared to the previous year due to sustained high coal prices[21]

Financial Performance - The company's operating revenue for 2020 was approximately ¥7.29 billion, a decrease of 1.55% compared to ¥7.40 billion in 2019[20]. - The net profit attributable to shareholders for 2020 was approximately ¥81.72 million, representing a 21.20% increase from ¥67.43 million in 2019[20]. - The net cash flow from operating activities decreased by 34.61% to approximately ¥1.06 billion in 2020, down from ¥1.63 billion in 2019[20]. - Total assets increased by 5.95% to approximately ¥20.45 billion at the end of 2020, compared to ¥19.31 billion at the end of 2019[20]. - The net assets attributable to shareholders rose by 3.86% to approximately ¥2.12 billion at the end of 2020, compared to ¥2.04 billion at the end of 2019[20]. - Basic earnings per share increased by 21.18% to CNY 0.0555 compared to CNY 0.0458 in 2019[21]. - Net profit attributable to shareholders, excluding non-recurring gains and losses, increased by CNY 397 million year-on-year, primarily due to improved asset profitability and reduced fixed costs[21]. - The weighted average return on equity rose to 3.94%, an increase of 0.57 percentage points from 2019[21]. - Total operating revenue for Q4 2020 reached CNY 2,097,378,344.31, with a net profit attributable to shareholders of CNY 79,948,307.29[24]. - The company reported a net cash flow from operating activities of CNY 390,389,294.69 in Q4 2020[24]. Operational Highlights - The company’s coal-fired power generation capacity is now below 50% of total installed capacity, reflecting a shift towards non-fossil energy sources[32]. - The national electricity investment grew by 9.6% year-on-year, with significant increases in wind and solar power generation capacity[32]. - The company is focused on enhancing the environmental standards of its thermal power plants in line with local government regulations[32]. - The market trading volume of electricity increased by 11.7% year-on-year, indicating a growing trend in electricity market transactions[32]. - As of the end of 2020, the total assets of the company amounted to CNY 20.455 billion, with a total installed capacity of 5.6788 million kW, including 5.2 million kW from thermal power, 469,300 kW from wind power, and 9,500 kW from solar power[35]. - In 2020, the company achieved a total electricity generation of 21.26 billion kWh, a decrease of 5.3% year-on-year, with thermal power down 5.85%, while wind power increased by 48.17% and solar power by 2.88%[43]. Investment and Projects - The company completed investments of CNY 1.864 billion in new energy projects, including wind power projects that have commenced operations by the end of the reporting period[36]. - The company plans to enhance profitability further with the commissioning of wind power projects totaling 225,000 kW in Inner Mongolia and 96,000 kW in Liaoning by year-end[51]. - The company aims to achieve a clean energy installed capacity ratio of 50% by 2035, with a target of 10 million kilowatts in total installed capacity[93]. - The company plans to expand its heating market in Shenyang and develop wind and solar energy projects as part of its strategic goals[93]. Environmental and Social Responsibility - The company implemented 11 poverty alleviation projects in 2020, investing CNY 1.655 million in these initiatives[42]. - The company’s VOCs pollution reduction efforts resulted in a total reduction of over 10% in emissions from key regions and industries[33]. - The company has achieved ultra-low emissions for air pollutants from all thermal power units[146]. - The company has invested 130.5 million RMB in various projects aimed at improving local infrastructure and living conditions[141]. - The company has actively participated in local epidemic prevention efforts during the reporting period[139]. Governance and Compliance - The company received a standard unqualified audit report from Tianzhi International Accounting Firm[4]. - The company has established a sound internal control and financial accounting system in compliance with relevant laws and regulations, ensuring the safety of its financial activities[109]. - The company emphasized the importance of adhering to the laws and regulations, ensuring compliance with the Company Law of the People's Republic of China and the Shanghai Stock Exchange listing rules[107]. - The company is focused on maintaining operational independence, ensuring it has the necessary assets, personnel, qualifications, and capabilities to operate independently in the market[108]. Related Party Transactions - The total amount of related party transactions during the reporting period reached 1,606,004,968.15 RMB, primarily for coal procurement and engineering services[119]. - The company has ongoing engineering service contracts with multiple related parties, indicating a stable revenue stream from these services[124]. - The company’s related party transactions include significant amounts with various group companies, indicating a robust inter-company financial relationship[126]. Future Outlook - The company anticipates structural changes in energy production and consumption, promoting a new development stage in the energy sector[91]. - The company plans to optimize its asset structure and improve its continuous profitability capabilities in 2021[94]. - The company expects a stable annual growth rate of approximately 2.5% in primary energy demand during the 14th Five-Year Plan period[92].