Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,777,087,578.99, representing a 17.91% increase compared to CNY 1,507,164,020.27 in the same period last year[20] - Net profit attributable to shareholders for the first half of 2022 was CNY 405,147,089.07, a significant increase of 68.03% from CNY 241,122,185.43 in the previous year[20] - The net cash flow from operating activities reached CNY 427,068,893.57, marking a 97.27% increase compared to CNY 216,485,635.57 in the same period last year[20] - Basic earnings per share for the first half of 2022 were CNY 0.44, a 69.23% increase from CNY 0.26 in the same period last year[22] - The company reported a net profit excluding non-recurring gains and losses of CNY 383,358,146.05, which is a 60.47% increase from CNY 238,893,752.23 in the same period last year[20] Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 6,823,527,501.67, an 8.57% increase from CNY 6,284,715,842.90 at the end of the previous year[20] - The company's net assets attributable to shareholders increased to CNY 4,399,222,214.57, reflecting a 7.07% growth from CNY 4,108,562,398.40 at the end of the previous year[20] - Total liabilities increased to CNY 2,424,305,287.10 from CNY 2,176,153,444.50, reflecting a rise of approximately 11.4%[114] - The owner's equity rose to CNY 914,608,128.00 from CNY 762,173,440.00, indicating an increase of about 20%[114] Share Capital and Equity - The total share capital increased to 914,608,128 shares after the distribution of bonus shares, up from 762,173,440 shares at the end of the previous year[20] - The company reported a total share capital of RMB 914,608,128.00 after distributing 152,434,688 shares as bonus shares on June 28, 2022[142] - The total equity increased to approximately ¥4.40 billion, compared to ¥4.11 billion in the previous year, reflecting a growth of 7.06%[116] Operational Efficiency and Management - The company aims to improve its operational efficiency by focusing on cost reduction and enhancing internal management practices[47] - The company is actively seeking to secure various fiscal and tax incentives to mitigate risks associated with changes in tax policies[47] - The company has undergone a board restructuring, with new appointments for key management positions[55] Market and Industry Position - The company operates in the power industry, focusing on power grid operation and energy-saving services for distribution networks[28] - The company has a competitive advantage due to its integrated operation model in power supply, ensuring reliable service in its supply area[29] - The energy-saving business is positioned as a sunrise industry, with the company having established early involvement and accumulated a client base in this sector[29] Environmental and Social Responsibility - The company achieved a 100% environmental impact assessment rate for 110 kV and above power grid construction projects, with no major environmental incidents reported during the reporting period[65] - The company implemented measures to reduce carbon emissions, resulting in a reduction of 1,362.5 tons of CO2, 1.7 tons of SO2, and 27.5 tons of NOx from the first port shore power project in Fuling District[66] - The company is committed to supporting rural revitalization through investments in power grid construction and upgrades, benefiting local agricultural and processing industries[67] Challenges and Future Plans - The company is facing challenges due to deepening electricity system reforms and the need to enhance communication with government and customers to ensure the implementation of new pricing policies[45] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[120] - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report[7] Compliance and Governance - The company has not reported any significant litigation or arbitration matters during the reporting period[82] - The company maintains a good integrity status for itself and its controlling shareholders during the reporting period[82] - The company has committed to avoiding related party transactions with Fuling Power and ensuring fair pricing in necessary transactions[79]

Financial Performance - The company's operating revenue for Q1 2022 was ¥846,886,098.18, representing a 10.67% increase compared to ¥765,230,081.39 in the same period last year[5] - Net profit attributable to shareholders was ¥187,782,515.25, marking a 22.04% increase from ¥153,867,561.40 year-on-year[5] - The net cash flow from operating activities was ¥193,292,381.23, which is a 20.23% increase compared to ¥160,762,276.79 in the previous year[5] - Basic and diluted earnings per share were both ¥0.25, up 22.04% from ¥0.20 in the same period last year[5] - The total assets increased to ¥6,525,697,543.27 in Q1 2022, up from ¥6,284,715,842.90 in Q1 2021, reflecting a growth of 3.8%[29] - The total equity increased to ¥4,303,805,391.15 in Q1 2022, up from ¥4,108,562,398.40 in Q1 2021, marking a growth of 4.7%[29] - The company's financial expenses decreased significantly to ¥1,513,968.49 in Q1 2022 from ¥10,681,324.27 in Q1 2021, indicating improved financial management[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,525,697,543.27, reflecting a 3.83% increase from the previous year's end[7] - The total liabilities rose to ¥2,221,892,152.12 in Q1 2022, compared to ¥2,176,153,444.50 in Q1 2021, indicating an increase of 2.1%[29] - Shareholders' equity attributable to the company was ¥4,303,805,391.15, an increase of 4.75% from ¥4,108,562,398.40 at the end of the previous year[7] Cash Flow - Cash and cash equivalents increased to ¥1,278,252,068.32 as of March 31, 2022, compared to ¥1,182,882,729.08 at the end of December 2021, reflecting a growth of approximately 8.06%[23] - The company's cash flow from operating activities for Q1 2022 was ¥193,292,381.23, an increase from ¥160,762,276.79 in Q1 2021[32] - The cash inflow from operating activities totaled ¥552,807,653.27 in Q1 2022, slightly down from ¥554,029,200.81 in Q1 2021[32] - The net cash flow from financing activities was -$2,913,020.00, a significant decrease from $84,279,194.85 in the previous period[33] Accounts Receivable and Prepayments - Accounts receivable increased by 64.62%, primarily due to growth in energy-saving service income and delayed payments from some customers due to COVID-19[13] - Prepayments rose by 127.83%, mainly due to increased prepayments for insurance, fuel, and property fees[13] - Accounts receivable rose significantly to ¥941,248,195.09 from ¥571,770,758.20, marking an increase of about 64.55% year-over-year[23] - The company reported a significant increase in prepayments to ¥1,572,103.64 from ¥690,020.49, reflecting a growth of approximately 128.66%[23] Shareholder Information - The total number of common shareholders reached 28,771, with the largest shareholder, Chongqing Chuandong Power Group, holding 41.65% of shares[16] - The company issued 147,517,440 new shares in a private placement, which were listed for trading on February 14, 2022, after a 6-month lock-up period[20] - The company has no reported related party transactions among the top ten shareholders[18] Tax and Investment - The company experienced a 669.35% increase in taxes paid, primarily due to higher value-added tax and corporate income tax payments[13] - The company reported a significant increase in investment income of 428.42%, attributed to improved operating performance of an associated company[13] Accounting Standards - The company has implemented new accounting standards starting from 2022, which may affect financial reporting[33]

Financial Performance - The company's operating revenue for 2021 was RMB 2,654,394,609.19, representing an increase of 18.50% compared to the previous year[25]. - The net profit attributable to shareholders of the listed company reached RMB 3,145,520,941.74, a year-on-year increase of 26.05%[25]. - The net cash flow from operating activities was RMB 1,403,213,677.01, reflecting a growth of 24.96% compared to 2020[25]. - The total assets at the end of 2021 amounted to RMB 6,284,715,842.90, which is a 5.11% increase from the previous year[25]. - The net assets attributable to shareholders of the listed company increased to RMB 4,108,562,398.40, marking a significant rise of 113.54% year-on-year[25]. - The basic earnings per share for 2021 was RMB 0.76, up 16.92% from RMB 0.65 in 2020[26]. - The weighted average return on equity was 18.60%, a decrease of 1.18 percentage points compared to the previous year[26]. - The company achieved a total operating revenue of 3.15 billion RMB, representing an 18.50% increase compared to the previous year[49]. - The net profit for the year was 505 million RMB, with a basic earnings per share of 0.76 RMB[49]. Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.6 per 10 shares, totaling RMB 12,194.775 million[6]. - The total share capital after the dividend distribution will increase to 914,608,128 shares[6]. - The company distributed a cash dividend of 0.22 RMB per share and issued 0.4 bonus shares per share, totaling cash dividends of 96,588,800 RMB and bonus shares of 175,616,000 shares[196]. - After the distribution, the total share capital increased from 439,040,000 shares to 614,656,000 shares[196]. - Following a private placement, the total share capital further increased to 762,173,440 shares after issuing 147,517,440 shares[199]. - The earnings per share and net asset per share have been recalculated based on the adjusted total of 762,173,440 shares[199]. Capital Structure and Financing - The company completed a private placement to acquire energy-saving assets from nine provincial energy service companies, raising a total of RMB 1.80 billion, with net proceeds of RMB 1.76 billion after expenses[37]. - The issuance price for the new shares in the private placement was RMB 12.18 per share, enhancing the company's capital structure and supporting business expansion[37]. - The total number of shares after the private placement was adjusted for earnings per share calculations, reflecting the new total of 762,173,440 shares[29]. - The net cash flow from financing activities was CNY 820,037,260.53, primarily driven by cash received from a private placement of stock[53]. Operational Highlights - The company completed 44 projects benefiting over 14,000 households through residential power supply facility upgrades[41]. - The company maintained a 100% electricity bill recovery rate and a 99.85% power supply reliability rate[42]. - The company signed contracts for energy-saving projects in Xinjiang and successfully completed projects in Shanxi, demonstrating a unique "Xinjiang model"[42]. - The company reported a 290.46% increase in other income, amounting to approximately 4.37 million RMB[50]. - The company is actively expanding its energy-saving business, with ongoing projects in multiple provinces including Shaanxi and Zhejiang[42]. Cash Flow Analysis - The net cash flow from operating activities was CNY 1,403,213,677.01, an increase of 24.96% compared to CNY 1,122,894,439.10 from the previous year[53]. - The net cash flow from investing activities was CNY -1,740,787,084.08, a significant increase in cash outflow due to payments for energy-saving project acquisitions and related expenses[53]. - Cash flow from operating activities increased year-on-year, primarily due to higher cash inflows from electricity sales and energy-saving services[65]. - Cash flow from investing activities decreased year-on-year, mainly due to increased payments for energy-saving project acquisitions and material costs[65]. - Cash flow from financing activities increased year-on-year, primarily due to funds received from a private placement of shares[65]. Energy Sector Performance - Revenue from the energy-saving sector reached CNY 1,735,925,547.06, with a gross margin of 38.21%, reflecting a year-on-year increase of 1.64 percentage points[57]. - Revenue from the electricity sector was CNY 1,408,408,088.01, with a gross margin of 3.42%, showing an increase of 0.45 percentage points year-on-year[57]. - The total cost of electricity sales was CNY 1,360,392,722.61, accounting for 55.91% of total costs, while the cost of energy-saving services was CNY 1,072,616,494.42, making up 44.09% of total costs[61]. - The total electricity generation for hydropower was 1,463 million kWh, a decrease of 14.24% compared to the previous year[78]. - The total electricity sales volume was 301,501 million kWh, an increase of 9.13% year-on-year[82]. Strategic Initiatives - The company aims to reduce line loss rates and improve electricity supply, supporting the national "carbon peak and carbon neutrality" strategy[75]. - The company is focusing on energy efficiency improvements and green energy utilization to meet diverse customer energy needs[75]. - The company plans to accelerate the promotion of high-efficiency transformers to enhance energy resource utilization efficiency by 2023[75]. - The company is committed to supporting the construction of a new power system dominated by renewable energy sources[75]. - The company has implemented a detailed plan for the elimination of high-energy-consuming transformers, indicating a commitment to green transformation[75]. Governance and Compliance - The company has established a governance structure that ensures the independence of its board and management, safeguarding the rights of minority shareholders[112]. - The company integrates party leadership into its governance framework to promote high-quality development and align business operations with political responsibilities[115]. - The company has not reported any significant changes in the business operations or competition from controlling shareholders[116]. - The company’s governance practices are in compliance with relevant laws and regulations, with no significant discrepancies noted[116]. - The company has established a framework to ensure compliance with relevant laws and regulations regarding related transactions[167]. Risk Management - The company emphasizes the importance of risk prevention and monitoring to mitigate financial costs and improve capital efficiency[110]. - The company acknowledges that its safety foundation is still weak, with aging equipment and insufficient disaster risk resilience[107]. - The company is focused on improving its internal management and exploring mechanisms for evaluating project investment returns to avoid ineffective investments[110]. - Changes in tax incentive policies could impact the profitability of the company's energy-saving projects, which currently benefit from substantial tax exemptions[110]. Employee and Management - The company reported a total of 735 employees, with 521 in production, 88 in technology, 12 in finance, and 114 in administration[142]. - The company has 389 retired employees who require financial support[142]. - The total pre-tax remuneration for directors and senior management during the reporting period amounted to CNY 491.53 million[123]. - The company has established a clear process for determining the remuneration of directors and senior management, ensuring transparency and accountability[129]. Future Outlook - The company plans to complete fixed asset investments of approximately 900 million yuan and achieve operating revenue of about 3.4 billion yuan in 2022[106]. - The forecasted net profits for the years 2020, 2021, and 2022 are projected to be no less than 138.89 million, 157.93 million, and 144.05 million respectively[167]. - The company is committed to achieving carbon peak by 2030 and carbon neutrality by 2060, aligning its operations with national environmental goals[101].

股票简称：涪陵电力 股票代码：600452 公司编号：2021—034 重庆涪陵电力实业股份有限公司 关于参加"重庆辖区2021年投资者网上集体 接待日活动"的公告 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。 为提高上市公司规范运作水平，推动重庆辖区上市公司进一步做 好投资者关系管理工作，在重庆证监局指导下，重庆上市公司协会联 合上证所信息网络公司、深圳市全景网络有限公司举办重庆辖区上市 公司 2021 年投资者网上集体接待日活动。活动于 2021 年 11 月 25 日 15:00-17:00 时举行，本公司登陆网站地址为：上证路演中心平台 http://roadshow.sseinfo.com。 届时，公司高管人员将参加本次活动，通过网络在线交流形式， 与投资者进行"一对多"形式的在线交流，回答投资者关心的问题， 欢迎广大投资者踊跃参与！ 特此公告。 重庆涪陵电力实业股份有限公司 董 事 会 二○二一年十一月二十日 ...

2021 年第三季度报告 证券代码：600452 证券简称：涪陵电力 重庆涪陵电力实业股份有限公司 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。 第三季度财务报表是否经审计 □是√否 一、 主要财务数据 主要会计数据和财务指标 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------|-----------------|-----------------|-------------------|--------|---------------------- ...

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,507,164,020.27, representing a 21.61% increase compared to ¥1,239,341,294.82 in the same period last year[20]. - Net profit attributable to shareholders was ¥241,122,185.43, a 51.99% increase from ¥158,645,542.47 in the previous year[20]. - The net cash flow from operating activities was ¥216,485,635.57, showing a significant increase of 274.47% compared to ¥57,810,991.24 in the same period last year[20]. - Basic earnings per share for the first half of 2021 were ¥0.39, a 50% increase from ¥0.26 in the same period last year[20]. - Operating profit increased by 47.51% to CNY 247.14 million, driven by new energy-saving projects and acquisitions[35]. - The total profit increased by 47.93% to CNY 249.26 million, driven by new projects and acquisitions[36]. - The company achieved operating revenue of CNY 1.507 billion, representing a 21.61% increase compared to the previous year[35]. - Net profit reached CNY 241.12 million, marking a 51.99% increase year-over-year[35]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,785,317,521.07, a decrease of 3.24% from ¥5,978,948,759.10 at the end of the previous year[20]. - The total liabilities decreased from approximately ¥4.05 billion to approximately ¥3.71 billion[117]. - Cash and cash equivalents decreased by 53.57% to 325,194,483.58, accounting for 5.62% of total assets[42]. - Accounts receivable increased by 210.10% to 899,886,206.52, representing 15.55% of total assets due to growth in distribution network business[42]. - Inventory surged by 2306.97% to 7,458,416.73, making up 0.13% of total assets, primarily due to increased project reserve materials[42]. - Short-term borrowings rose by 280.00% to 380,000,000.00, constituting 6.57% of total assets, driven by operational needs[42]. - Long-term borrowings increased by 72.57% to 1,412,492,945.90, representing 24.42% of total assets, mainly for the acquisition of distribution network project assets[42]. Share Capital and Equity - The total share capital increased to 614,656,000 shares, a 40.00% increase from 439,040,000 shares[20]. - The company completed a private placement of shares, raising a total of RMB 1,796,762,419.20, with a net amount of RMB 1,761,747,029.74 after deducting issuance costs[27]. - The company’s total share capital increased from 614,656,000 shares to 762,173,440 shares following the issuance of 147,517,440 new shares at a price of RMB 12.18 per share[27]. - The total equity increased to approximately ¥2.08 billion from ¥1.92 billion, reflecting a strong financial position[117]. - The company distributed cash dividends of RMB 0.22 per share and issued 175,616,000 bonus shares, increasing the total share capital to 614,656,000 shares[100]. Operational Highlights - The main business includes power supply and distribution network energy-saving services, focusing on energy-saving transformation and efficiency management solutions[29]. - The company has established a strong competitive advantage in the power supply market due to its integrated operations in transmission, distribution, and sales of electricity[31]. - The energy-saving business is positioned as a sunrise industry, with the company having developed a number of demonstration projects and established long-term partnerships with advanced technology firms[34]. - The company is focused on improving the distribution network to address issues such as low voltage and safety hazards, particularly in rural areas[54]. - The company is actively seeking favorable tax policies and credit conditions to reduce financial costs and improve capital efficiency[54]. Environmental and Social Responsibility - The company achieved a 100% environmental impact assessment rate for 110 kV and above power grid construction projects, with no major environmental incidents reported[67]. - The company has implemented measures to ensure a sulfur hexafluoride gas recovery rate of over 96.5%[67]. - The company completed the construction of the Fuling shale gas 35 kV Guanghua substation, contributing to the "oil-to-electricity" initiative[70]. - The company has reduced complaints regarding low voltage and frequent power outages by over 90% through investments in rural power grid construction[71]. - The company aims to enhance energy efficiency and help customers reduce energy costs through the expansion of distribution network energy-saving services[67]. Compliance and Governance - The company did not report any non-operating fund occupation by controlling shareholders or related parties[8]. - There were no significant risks or violations in decision-making procedures reported during the period[8]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[62]. - The integrity status of the company and its controlling shareholders is reported to be good during the reporting period[83]. - The company will ensure compliance with the relevant regulatory frameworks to avoid conflicts of interest[79]. Financial Management and Accounting - The company has adopted the new leasing standards effective January 1, 2021, impacting the accounting treatment of lease liabilities and right-of-use assets[91]. - The financial report complies with the requirements of the accounting standards and reflects the company's financial status and cash flows accurately[147]. - The company recognizes revenue when the customer obtains control of the goods, considering various indicators such as transfer of ownership and acceptance[196]. - The company applies the effective interest method to amortize the difference between the transaction price and the cash payment amount in contracts with significant financing components[197]. - The company recognizes lease liabilities and right-of-use assets at the start of the lease term, excluding short-term leases and low-value asset leases[178].

Financial Performance - Operating revenue for the period reached CNY 765,230,081.39, representing a growth of 26.04% year-on-year[11] - Net profit attributable to shareholders of the listed company was CNY 153,867,561.40, an increase of 45.11% compared to the same period last year[11] - Basic earnings per share rose by 45.83% to CNY 0.35[11] - The company reported a net profit excluding non-recurring gains and losses of CNY 153,251,823.54, up 45.19% year-on-year[11] - The company's net profit for Q1 2021 reached CNY 153,867,561.40, representing a 45.11% increase compared to CNY 106,032,209.29 in Q1 2020[24] - The company's operating revenue for Q1 2021 was ¥765,230,081.39, representing a 26% increase from ¥607,155,499.80 in Q1 2020[34] - The net profit for Q1 2021 was ¥153,867,561.40, up 45% from ¥106,032,209.29 in Q1 2020[36] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,738,045,802.14, a decrease of 4.03% compared to the end of the previous year[11] - The company’s total liabilities decreased to CNY 3,661,126,607.55 from CNY 4,054,900,234.20, indicating improved financial stability[32] - Cash and cash equivalents decreased by 44.09% to 391,609,656.66 RMB, primarily due to payments made for acquisitions[21] - The total assets amounted to ¥5,738,045,802.14, compared to ¥5,978,948,759.10 in the previous year[34] - The company’s total liabilities decreased from ¥5,978,948,759.10 to ¥5,738,045,802.14 year-over-year[34] - Current liabilities reached CNY 3,225,617,589.17, while total liabilities were CNY 4,054,900,234.20[45] Shareholder Information - Net assets attributable to shareholders of the listed company increased by 7.95% to CNY 2,076,919,194.59[11] - The total number of shareholders at the end of the reporting period is 17,699[17] - The largest shareholder, Chongqing Chuandong Power Group Co., Ltd., holds 226,736,842 shares, accounting for 51.64% of the total shares[17] - The company has not issued preferred shares, and there are no related party transactions among the top shareholders[20] - The top ten shareholders do not have any associated relationships or concerted actions as per the regulations[20] Cash Flow and Expenses - Net cash flow from operating activities was CNY 160,762,276.79, showing a significant recovery from a negative cash flow in the previous year[11] - The company’s cash flow from operating activities showed a net inflow of CNY 160,762,276.79, a significant improvement from a net outflow of CNY 11,193,955.53 in the same period last year[24] - Cash received from sales of goods and services rose by 84.18% to CNY 520,439,558.79, driven by increased cash inflow from energy-saving benefits and electricity sales[24] - The company reported a significant increase in interest income, up 274.17% to CNY 603,528.21, attributed to higher cash reserves[24] - The cash paid for the acquisition of fixed assets and other long-term assets surged by 782.46% to CNY 553,865,369.80, reflecting increased project engineering and material procurement[24] - The company received cash from financing activities amounting to ¥100,000,000.00, with cash outflows for debt repayment totaling ¥96,000,000.00[40] Inventory and Receivables - Accounts receivable increased by 101.81% to 585,645,060.95 RMB, primarily due to growth in the company's distribution network business[21] - Inventory surged by 1196.88% to 4,018,605.55 RMB, mainly due to an increase in project reserve materials[21] - The company reported a significant increase in prepayments by 143.47% to 1,627,239.83 RMB, mainly due to prepaid insurance fees[21] - Inventory stood at CNY 309,867.94, indicating effective inventory management[42] Management and Operational Changes - Sales expenses increased by 256.82% to CNY 599,948.97, primarily due to the development needs of energy-saving business and increased travel expenses[24] - The management expenses increased by 32.63% to CNY 22,970,985.77, mainly due to costs associated with energy-saving business development and organizational adjustments[24] - The company has not disclosed any new product developments or market expansion strategies in this report[11] - The company incurred research and development expenses, although specific figures were not disclosed in the report[34]

Financial Performance - The company's operating revenue for 2020 was RMB 2,654,394,609.19, representing a year-on-year increase of 1.24% compared to RMB 2,621,898,127.41 in 2019[22]. - The net profit attributable to shareholders of the listed company was RMB 400,781,780.19, a slight increase of 1.02% from RMB 396,725,409.01 in the previous year[22]. - The net cash flow from operating activities was RMB 1,122,894,439.10, showing a decrease of 3.42% compared to RMB 1,162,686,084.18 in 2019[22]. - The total assets at the end of 2020 reached RMB 5,978,948,759.10, marking a significant increase of 23.54% from RMB 4,839,792,070.78 in 2019[22]. - The company's net assets attributable to shareholders increased to RMB 1,924,048,524.90, reflecting a growth of 3.74% from RMB 1,854,633,748.43 in the previous year[22]. - The basic earnings per share for 2020 was RMB 0.91, up from RMB 0.90 in 2019, indicating a growth of 1.11%[23]. - The weighted average return on equity decreased to 19.78%, down 4.35 percentage points from 24.13% in 2019[23]. - The company reported non-recurring gains of CNY 23,034,158.96 for 2020, which included CNY 19,155,119.29 from the disposal of non-current assets[27]. - The company achieved a net profit of RMB 15,237.79 million in 2020, surpassing the promised target of RMB 13,888.77 million[134]. Cash Flow and Investments - The net cash flow from operating activities in Q4 2020 reached CNY 723,430,522.44, a substantial recovery from a negative cash flow of CNY -11,193,955.53 in Q1 2020[26]. - Cash and cash equivalents increased by 101.85% to CNY 700,418,875.62, attributed to reserved funds for asset acquisition payments[65]. - The net cash flow from investing activities increased, mainly due to a decrease in payments for fixed assets and long-term assets[63]. - Cash paid for the acquisition of fixed assets and other long-term assets decreased by 53.61%, reflecting reduced payments for energy-saving project investments[49]. Revenue Breakdown - The company's revenue from the electricity sector was CNY 1,263,539,168.41, with a year-on-year decrease of 7.79% and a gross margin of 2.97%, down by 2.70 percentage points[55]. - The energy-saving sector generated revenue of CNY 1,390,855,440.78, reflecting an 11.13% year-on-year increase and a gross margin of 36.57%, up by 0.44 percentage points[55]. - The total electricity sales revenue for 2020 was RMB 139,575.96 million, reflecting a 7.92% decrease year-on-year due to reduced sales volume and policy-driven price discounts during the pandemic[90]. Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.2 per 10 shares, totaling RMB 96,588,800, which will increase the total share capital to 61,465,600 shares after the distribution[5]. - The company has maintained a consistent dividend policy over the past three years, with a steady increase in the payout ratio[108]. - The cash dividend distribution plan is subject to approval at the company's annual general meeting[112]. Strategic Initiatives - The company initiated a private placement to raise funds for acquiring energy-saving assets from nine provincial energy service companies under the State Grid Corporation, with the approval process ongoing as of March 2021[32]. - The company is actively seeking to expand its market space through new business initiatives such as non-power outage operations and smart drone inspections[45]. - The company is focusing on enhancing its energy efficiency and reducing carbon emissions, aligning with national goals of carbon peak by 2030 and carbon neutrality by 2060[99]. - The company plans to acquire energy-saving assets from nine subsidiaries under the State Grid, marking a new phase in its energy-saving business layout[45]. Risk Management - The company has outlined potential risks in its future development strategy, emphasizing the importance of investor awareness regarding investment risks[6]. - The company faces risks related to potential changes in tax incentives for energy-saving projects, which could affect profitability[104]. Governance and Compliance - The company has committed to avoiding related party transactions that could harm the interests of minority shareholders[120]. - The company has not faced any major litigation or arbitration matters during the reporting period[128]. - The company has not encountered any risks of suspension or termination of its listing status[128]. - The company has maintained a strict governance structure, ensuring independence from its controlling shareholder and compliance with legal regulations[186]. Employee and Management Structure - The total number of employees in the parent company is 706, with 361 retirees that the company needs to support[181]. - The company has implemented a comprehensive training plan to enhance employee skills, achieving a 100% execution rate for training programs[183]. - The remuneration for directors and senior management is determined based on performance assessments and approved by the remuneration committee[175]. Market Position and Competition - The company anticipates intensified competition in the electricity market due to ongoing reforms, which may impact its traditional electricity supply business[101]. - The electricity industry is undergoing a critical period of structural and product transformation, with a focus on clean energy development and optimization of the electricity structure[69].

股票简称：涪陵电力 股票代码：600452 公司编号：2020—033 重庆涪陵电力实业股份有限公司 关于参加"重庆辖区上市公司2020年投资者 网上集体接待日活动"的公告 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。 为推动重庆辖区上市公司做好投资者关系管理工作，促进上市公 司完善公司治理，进一步提高上市公司质量。在重庆证监局指导下，重 庆上市公司协会联合上证所信息网络公司、深圳市全景网络有限公司举 办重庆辖区上市公司 2020 年投资者网上集体接待日活动。活动于 2020 年 11 月 26 日 15:00-16:30 时 举 行 ， 平 台 登 陆 地 址 为 ： http://roadshow.sseinfo.com。 届时，公司高管人员将参加本次活动，通过网络在线交流形式，与 投资者进行"一对多"形式的在线交流，回答投资者关心的问题，欢迎 广大投资者踊跃参与！ 特此公告。 重庆涪陵电力实业股份有限公司 董 事 会 二○二○年十一月二十一日 ...

2020 年第三季度报告 公司代码：600452 公司简称：涪陵电力 重庆涪陵电力实业股份有限公司 2020 年第三季度报告 1 / 18 2020 年第三季度报告 一、 in in 四、 目 录 | --- | |---------------| | | | 重要提示 | | 公司基本情况. | | 重要事项 | | 附录 | 2 / 18 2020 年第三季度报告 单位：元 币种：人民币 3 / 18 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 公司负责人杨作祥、主管会计工作负责人周勇 及会计机构负责人（会计主管人员）张晓丽保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------|------------------|------- ...