2021 年第三季度报告 证券代码：600644 证券简称：乐山电力 乐山电力股份有限公司 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 (一)主要会计数据和财务指标 单位：元 币种：人民币 2021 年第三季度报告 | 经营活动产生的现金流 | 不适用 | 不适用 | 273,982,524.36 | | 75.69 | | --- | --- | --- | --- | --- | --- | | 量净额 | | | | | | | 基本每股收益（元/股） | 0.1645 | 15.64 | 0.3201 | | -1.15 | | 稀释每股收益（元/股） ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,257,030,423.79, representing an increase of 18.08% compared to ¥1,064,561,459.76 in the same period last year[22]. - The net profit attributable to shareholders of the listed company decreased by 14.30% to ¥83,797,269.36 from ¥97,783,764.55 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 7.44% to ¥81,456,378.49 compared to ¥75,818,295.74 in the same period last year[22]. - The net cash flow from operating activities significantly increased by 101.68% to ¥108,167,922.86 from ¥53,634,250.37 in the previous year[22]. - Basic earnings per share decreased by 14.30% to CNY 0.1556 compared to the same period last year[23]. - The company achieved a revenue of CNY 125,703.04 million, an increase of 18.08% year-on-year[34]. - Operating revenue for the current period reached CNY 1,257,030,423.79, an increase of 18.08% compared to CNY 1,064,561,459.76 in the same period last year[37]. - Operating costs increased by 20.06% to CNY 959,803,852.47, primarily due to rising costs of purchased electricity and gas[38]. - The company reported a net loss of CNY 348,129,373.85 in retained earnings, an improvement from a loss of CNY 431,926,643.21[99]. - The comprehensive income for the first half of 2021 amounts to CNY 72,580,418.16, indicating a positive performance in earnings[126]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥1,675,725,360.18, up 5.44% from ¥1,589,338,612.07 at the end of the previous year[22]. - Total assets at the end of the reporting period were ¥3,868,947,351.72, a decrease of 3.25% from ¥3,998,923,590.43 at the end of the previous year[22]. - Total liabilities decreased to CNY 1,958,195,176.83 from CNY 2,177,183,422.63[99]. - Current liabilities totaled CNY 1,181,505,188.75, down from CNY 1,433,958,357.77[99]. - Long-term borrowings increased to CNY 402,500,000.00 from CNY 374,000,000.00[99]. - The total amount of related party transactions for the company was 44,841.85 thousand RMB, accounting for 81.92% of similar transactions[80]. Cash Flow - The company reported a net cash flow from operating activities of CNY 108,167,922.86, compared to CNY 53,634,250.37 in the first half of 2020[113]. - The net cash and cash equivalents at the end of the first half of 2021 was CNY 131,898,281.83, a decrease from CNY 273,503,735.68 at the end of the first half of 2020[114]. - Cash inflow from operating activities was primarily driven by sales revenue of CNY 1,444,341,626.20, up from CNY 1,174,746,350.30 in the first half of 2020[113]. - The company experienced a net cash decrease of CNY -96,750,676.03 in cash and cash equivalents during the first half of 2021[114]. Investments and Subsidiaries - The company holds a 21.60% stake in Sichuan Shengtian New Energy Development Co., Ltd., which focuses on photovoltaic and renewable energy projects[41]. - Significant investment of CNY 3.48 billion in Sichuan Shengtian New Energy Development Co., Ltd. resulted in a profit of CNY 992.57 million for the period[41]. - The company has invested in 15 solar power stations with a total installed capacity of 471.38 MW across multiple provinces, promoting clean energy development[63]. Business Operations - The total electricity sales volume increased by 25.62% to 178,775 million kWh compared to the previous year[33]. - The company completed a power generation of 24,005 million kWh, representing a growth of 29.25% year-on-year[33]. - The company is actively expanding its comprehensive energy business, contributing to the increase in operating revenue[37]. - The company plans to enhance its electricity sector capabilities by improving grid planning and reducing electricity purchase costs[49]. - The company aims to expand its water supply market by integrating assets and increasing production capacity by the end of 2023[49]. - The gas segment will focus on enhancing supply capabilities and developing new business opportunities, including commercial gas installations[50]. Social Responsibility and Community Engagement - The company donated 600,000 yuan in 2021 to support rural revitalization efforts, including infrastructure and cultural development projects[66]. - The company is implementing a poverty prevention and monitoring mechanism to ensure stability for previously impoverished populations[71]. - The company is promoting ecological planting and breeding with county-level support funds to enhance income for impoverished communities[72]. - The company is actively engaging in "consumption poverty alleviation" by collaborating with local supermarkets to prioritize the procurement of quality agricultural products from impoverished areas[70]. Corporate Governance and Compliance - The company has not disclosed any significant contracts or other major matters during the reporting period[86]. - The company’s share capital structure has not changed during the reporting period[87]. - The company has not reported any changes in the number of restricted shares or any new strategic investors becoming top shareholders during the reporting period[92]. - The company has adopted the new leasing standards starting from January 1, 2021, which requires all leases to be recognized as right-of-use assets and lease liabilities[140]. Risk Management - The company faces risks from policy constraints, market fluctuations, and competition, particularly in the electricity sector where profit margins are under pressure[48]. - The company utilizes forward-looking information to assess whether the credit risk of financial instruments has significantly increased since initial recognition[166]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards and reflect the company's financial position, operating results, changes in equity, and cash flows accurately[142]. - The company recognizes foreign exchange differences in profit or loss, except for specific capitalized assets and available-for-sale foreign monetary items[157]. - The company assesses expected credit losses based on the entire lifetime of financial assets, with specific loss rates applied to different aging categories[168].

2021 年第一季度报告 公司代码：600644 公司简称：乐山电力 乐山电力股份有限公司 2021 年第一季度报告 2021 年 4 月 30 日 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 7 | 2021 年第一季度报告 二、 公司基本情况 2.1 主要财务数据 3 / 18 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增减(%) 总资产 3,881,072,797.23 3,998,923,590.43 -2.95 归属于上市公司 股东的净资产 1,629,171,200.52 1,589,338,612.07 2.51 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的 现金流量净额 -23,053,844.77 -109,864,172.94 - 年初至报告期末 上年初至上年报告期末 比上年同期增减（%） 营业收入 611,009,641.65 507,197,848.76 20.47 归属于上市公司 股东的净利润 37,243,109 ...

Financial Performance - In 2020, the company's operating revenue reached ¥2,291,204,881.07, representing a 3.06% increase compared to ¥2,223,199,937.34 in 2019[23] - The net profit attributable to shareholders of the listed company for 2020 was ¥102,535,347.58, an increase of 14.90% from ¥89,234,940.80 in 2019[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥66,886,467.10, up 19.46% from ¥55,992,775.62 in the previous year[23] - The net cash flow from operating activities was ¥408,424,506.68, a significant increase of 45.08% compared to ¥281,509,330.77 in 2019[23] - As of the end of 2020, the net assets attributable to shareholders amounted to ¥1,589,338,612.07, reflecting a 7.20% increase from ¥1,482,571,551.42 at the end of 2019[23] - The total assets of the company at the end of 2020 were ¥3,998,923,590.43, which is a 5.73% increase from ¥3,782,209,518.15 in 2019[23] - Basic earnings per share increased by 14.91% to CNY 0.1904 in 2020 compared to CNY 0.1657 in 2019[24] - The weighted average return on equity rose to 6.67% in 2020, an increase of 0.49 percentage points from 2019[24] - The company reported a total of CNY 35,648,880.48 in non-recurring gains in 2020, compared to CNY 33,242,165.18 in 2019[27] Profit Distribution and Dividends - The company will not distribute profits or transfer capital reserves to increase share capital for the year due to insufficient earnings reserves to cover losses[6] - The company did not distribute any profits in 2020, 2019, or 2018, with cash dividends amounting to 0 for each year[116] - The company's cash dividend policy requires a minimum of 30% of the average distributable profit over the last three years to be distributed as cash dividends if conditions are met[111] - The independent directors approved the 2020 profit distribution plan, confirming compliance with relevant laws and regulations[114] - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[116] Business Segments and Operations - The company operates in five main business segments: electricity, natural gas, water supply, comprehensive energy, and hotel services[32] - The company achieved a total electricity generation of 51,114 million kWh, a year-on-year increase of 17.80% from 43,392 million kWh[48] - The total sales volume of electricity reached 300,468 million kWh, reflecting a year-on-year growth of 3.53% compared to 290,219 million kWh[48] - The electricity business generated revenue of 1,412,666,939.95 RMB, with a gross margin of 25.27%, reflecting a decrease of 4.93% in revenue year-on-year[53] - The natural gas business reported revenue of 437,540,101.31 RMB, with a gross margin of 23.25%, down 5.31% year-on-year[53] - The company’s water supply business achieved revenue of 271,214,865.04 RMB, with a gross margin of 22.42%, an increase of 37.77% in revenue year-on-year[53] Market and Customer Engagement - The electricity sales volume in Leshan City accounted for 12.97% of total sales in 2020, a decrease of 0.42 percentage points from the previous year[32] - The company achieved a total of 2,922.70 million CNY in electricity cost reductions for users due to government policies during the reporting period[42] - The company participated in the electricity market with 10 users in the water and electricity consumption demonstration area, reflecting its active engagement in market transactions[43] - The company has implemented a new "Internet + marketing service" model to enhance customer service and payment flexibility[42] Investment and Development - The company has invested 666 million CNY in rural power grid projects to improve the weak rural electricity supply situation[41] - The company is focusing on the "Four Networks Integration" strategy to enhance operational efficiency and market competitiveness[38] - The company plans to enhance energy digitalization and smart transformation during the 14th Five-Year Plan period, focusing on market expansion and efficiency improvement[80] - The company is actively exploring the hydrogen energy supply and distributed energy service sectors, aiming to enhance its comprehensive energy business[93] Challenges and Risks - The company reported a cumulative undistributed profit of -¥431,926,643.21 at the end of 2020, indicating ongoing financial challenges[6] - The company has outlined potential risks in its future development plans, urging investors to be cautious[7] - The company faces multiple challenges including policy constraints, market fluctuations, and competition, leading to significant pressure on profitability in the electricity sector due to increasing electricity price cuts[102] Corporate Governance and Shareholder Information - The company does not have a controlling shareholder or actual controller, as confirmed by legal opinions[159] - The report indicates that there were no changes in the controlling shareholder or actual controller during the reporting period[160] - The company has a structured remuneration decision process for directors and senior management based on performance and operational goals[177] - The total number of ordinary shareholders at the end of the reporting period is 32,349, an increase from 28,521 at the end of the previous month[156] Social Responsibility and Community Engagement - The company donated 850,000 RMB to support poverty alleviation efforts in Xingxing Village, aiming to enhance rural development and ensure sustainable poverty reduction[140] - The company helped 168 registered impoverished individuals to escape poverty through its initiatives[144] - The total investment in poverty alleviation projects amounted to 41 million RMB, with 7 different project types initiated[144] - The company is committed to preventing poverty recurrence and ensuring the sustainability of its poverty alleviation outcomes[145]

Financial Performance - Operating revenue for the first nine months increased by 3.00% to CNY 1,645,071,608.63 compared to the same period last year[6] - Net profit attributable to shareholders grew by 5.98% to CNY 174,365,430.85 year-over-year[6] - Net profit after deducting non-recurring gains and losses surged by 29.02% to CNY 151,668,326.66 compared to the previous year[6] - Basic and diluted earnings per share increased by 5.98% to CNY 0.3239[6] - Total operating revenue for Q3 2020 was approximately ¥580.51 million, an increase of 8.9% compared to ¥533.03 million in Q3 2019[24] - Net profit for Q3 2020 reached approximately ¥80.92 million, representing a 55.2% increase from ¥52.16 million in Q3 2019[25] - Total profit for the first three quarters of 2020 was approximately ¥194.20 million, a 5.5% increase from ¥183.78 million in the same period of 2019[25] - The company reported a net loss of CNY -360,523,979.68, an improvement from CNY -538,195,678.86 in the previous year[18] Assets and Liabilities - Total assets increased by 5.60% to CNY 3,993,971,081.02 compared to the end of the previous year[6] - Non-current assets totaled CNY 3,301,727,568.00, an increase from CNY 3,172,969,820.73, reflecting a growth of 4.06%[17] - Current liabilities rose to CNY 1,312,253,331.66, compared to CNY 1,233,073,154.43, marking an increase of 6.43%[17] - Total liabilities amounted to CNY 2,101,863,782.60, slightly up from CNY 2,076,408,104.97, indicating a growth of 1.23%[18] - Total current assets reached CNY 975,632,444.03, compared to CNY 755,196,426.30, indicating an increase of 29.19%[20] - Long-term borrowings decreased to CNY 414,231,845.00 from CNY 494,600,370.00, a decline of 16.24%[18] - Total liabilities amounted to CNY 2,076,408,104.97, with a slight decrease of CNY 2,112,774.31 compared to the previous period[39] Shareholder Information - Net assets attributable to shareholders rose by 12.06% to CNY 1,661,377,843.85 year-over-year[6] - The total number of shareholders reached 27,080 by the end of the reporting period[9] - The largest shareholder, Leshan State-owned Assets Investment Operation Group Co., Ltd., holds 19.24% of the shares[9] - Shareholders' equity increased to CNY 1,892,107,298.42 from CNY 1,705,801,413.18, showing a growth of 10.92%[18] Cash Flow - The company reported a net cash flow from operating activities of CNY 155,948,208.46, a decrease of 38.33% compared to the same period last year[6] - Cash flow from operating activities for the first nine months of 2020 was 1,935,933,023.67, down from 2,013,405,814.26 in the same period of 2019, representing a decline of approximately 3.8%[32] - Cash inflow from financing activities totaled CNY 1,348,984,231.30, slightly up from CNY 1,341,332,277.78 in the same period last year[35] - Cash outflow from investment activities was CNY 103,264,875.86, significantly reduced from CNY 232,360,810.94 in 2019, resulting in a net cash flow from investment activities of -CNY 99,422,671.20[34] Inventory and Receivables - Accounts receivable increased by 50.08% to ¥109,441,652.12 due to increased overdue payments from users affected by floods[12] - Inventory rose by 62.68% to ¥101,833,522.48, primarily due to the increase in agricultural network projects and low-voltage projects[12] - Contract assets surged by 164.03% to ¥73,694,390.36, driven by the growth in sewage project installation business[12] - Accounts receivable increased to CNY 27,104,916.13 from CNY 12,141,617.92, reflecting a growth of 123.73%[20] Financial Expenses - Financial expenses increased by 64.57% to ¥28,650,325.61, mainly due to increased financing scale and interest expenses[13] - The company’s financial expenses for Q3 2020 were approximately ¥9.23 million, an increase from ¥7.24 million in Q3 2019, primarily driven by interest expenses[24] Operational Changes - The company completed capital increases for its wholly-owned subsidiaries, enhancing its operational capacity[14] - The company has implemented new revenue and leasing standards starting from 2020, which may impact future financial reporting and performance metrics[35] - The company reported a retained earnings deficit of CNY -538,195,678.86, which improved by CNY 3,306,268.33[39]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,064,561,459.76, a slight increase of 0.04% compared to CNY 1,064,086,636.57 in the same period last year[20]. - Net profit attributable to shareholders decreased by 13.62% to CNY 97,783,764.55 from CNY 113,205,474.87 year-on-year[20]. - The net profit after deducting non-recurring gains and losses increased by 19.32% to CNY 75,818,295.74 compared to CNY 63,540,034.42 in the previous year[20]. - Basic earnings per share decreased by 13.62% to CNY 0.1816 from CNY 0.2103 in the same period last year[22]. - The company reported a net profit attributable to shareholders of 97.78 million yuan, a decrease of 13.62% from 113.21 million yuan in the previous year[35]. - The operating revenue was 1.06456 billion yuan, slightly increasing by 0.04% from 1.06408 billion yuan year-on-year[35]. - The company reported a net loss of CNY 437,105,645.98, an improvement from a loss of CNY 538,195,678.86 in the previous period[94]. - The total comprehensive income for the period is CNY 89,234,940.80, which includes a net profit of CNY 98,351,219.39, indicating a strong performance[115]. - The company reported a decrease in retained earnings by CNY 6,265,530.65 due to various adjustments and distributions[115]. Cash Flow and Investments - The net cash flow from operating activities was CNY 53,634,250.37, down 26.81% from CNY 73,282,057.30 in the same period last year[21]. - The net cash flow from operating activities for the first half of 2020 was ¥53,634,250.37, a decrease of 26.8% compared to ¥73,282,057.30 in the same period of 2019[105]. - The net cash flow from investing activities improved by 49.19%, resulting in a net outflow of CNY 109.16 million, compared to a larger outflow of CNY 214.86 million in the previous year[38][39]. - The company reported a net cash flow from investing activities of -¥109,162,335.07, indicating a significant increase in investment expenditures compared to -¥214,861,225.92 in the previous year[105]. - The net cash flow from financing activities increased by 19.85% to CNY 107.59 million, reflecting a larger financing scale during the reporting period[39]. - Cash inflow from financing activities was ¥411,000,000.00, down from ¥484,000,000.00 in the first half of 2019, while cash outflow was ¥303,405,840.92, compared to ¥394,228,872.48 in the previous year[106]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,954,720,336.69, an increase of 4.56% from CNY 3,782,209,518.15 at the end of the previous year[21]. - Total liabilities rose to CNY 2,141,988,294.02, compared to CNY 2,076,408,104.97, marking an increase of about 3.16%[93]. - Owner's equity totaled CNY 1,812,732,042.67, up from CNY 1,705,801,413.18, reflecting a growth of approximately 6.26%[94]. - The total current assets as of June 30, 2020, amount to 710,012,796.25 RMB, an increase from 609,239,697.42 RMB at the end of 2019[92]. - The total amount of guarantees provided by the company, including those to subsidiaries, is 70 million RMB, which accounts for 4.42% of the company's net assets[65]. Operational Highlights - The company achieved a total electricity generation of 185.73 million kWh, an increase of 1.21% compared to 183.51 million kWh in the same period last year[35]. - The total electricity sales reached 1.42314 billion kWh, up by 0.95% from 1.40970 billion kWh year-on-year[35]. - The company experienced a decrease in gas sales volume to 84 million cubic meters, down by 5.47% from 88.86 million cubic meters last year[35]. - The water sales volume increased by 16.32% to 21.60 million cubic meters, compared to 18.57 million cubic meters in the previous year[35]. - The electricity comprehensive line loss rate was 7.20%, a decrease of 0.17 percentage points year-on-year[35]. Strategic Initiatives - The company signed strategic cooperation agreements with local government and enterprises to enhance business relationships and support future growth[36]. - The company plans to enhance its marketing strategies and expand into new energy services to mitigate risks and improve profitability[52]. - The company is focusing on rural revitalization and tourism development, aiming to enhance local infrastructure and promote the "Star Mountain Goods" brand through various sales channels[72]. - The company is actively promoting cultural activities to improve community spirit and meet the growing cultural needs of the local population[73]. Risk Management - The report includes a risk statement regarding forward-looking statements, emphasizing that future plans do not constitute a commitment to investors[6]. - The company faces operational risks due to the impact of COVID-19 on the hospitality and energy sectors, leading to decreased revenues[51]. Related Party Transactions - The company reported significant related party transactions, including purchasing electricity from Sichuan Electric Power Company for approximately ¥25,039.93 million, accounting for 63.48% of the total related party transaction amount[61]. - The total amount of related party transactions for the reporting period was ¥27,746.99 million, with a percentage of 70.34% of similar transactions[61]. Social Responsibility and Community Engagement - The company donated 850,000 RMB to implement an "ecological agriculture + rural tourism" poverty alleviation model in Xinxing Village[67]. - A total of 168 registered poor individuals were lifted out of poverty through various projects, with a total investment of 4.1 million RMB in industry development[69]. - The company has donated over 5 million RMB to Xinxing Village for infrastructure and development projects since the start of its assistance[71]. - The company’s poverty alleviation efforts have led to a poverty incidence rate of 0% in Xinxing Village for 2018 and 2019[71]. Accounting and Financial Reporting - The company implemented a new revenue recognition standard starting January 1, 2020, which resulted in an adjustment of contract assets to ¥27,910,999.17 and a decrease in prepayments by ¥278,912,442.66[74]. - The financial statements for the first half of 2020 comply with the requirements of the accounting standards and reflect the company's financial position as of June 30, 2020[139]. - The company has not reported any significant accounting errors that require retrospective restatement during the reporting period[76]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 28,000[82]. - The company’s major shareholder, Leshan Guotou Group, holds 103,608,320 shares, accounting for 19.24% of the total shares, with 22,860,700 shares pledged[79].

Financial Performance - Net profit attributable to shareholders was CNY 40,754,115.82, down 23.47% year-on-year[6]. - Operating revenue for the period was CNY 507,197,848.76, a decrease of 1.41% compared to the same period last year[6]. - The company's total assets decreased to ¥3,749,276,326.56 from ¥3,782,209,518.15[17]. - The weighted average return on equity decreased by 1.14 percentage points to 2.71%[6]. - The company's total liabilities to equity ratio as of March 31, 2020, was approximately 1.39, indicating a relatively high level of debt compared to equity[22]. - The net profit for Q1 2020 was ¥42,327,228.86, down 23.3% from ¥55,214,278.20 in Q1 2019[27]. - The total profit for Q1 2020 was ¥44,433,546.05, a decrease of 24.8% from ¥59,087,338.23 in Q1 2019[27]. - The company's operating profit for Q1 2020 was ¥24,241,658.45, down 58.3% from ¥58,553,537.73 in Q1 2019[27]. Cash Flow - The net cash flow from operating activities was CNY -109,864,172.94, representing an increase in cash outflow of 85.96% year-on-year[6]. - Cash flow from operating activities in Q1 2020 was negative at -¥109,864,172.94, compared to -¥59,078,893.43 in Q1 2019, indicating a worsening cash flow situation[31]. - The net cash flow from investment activities improved by 40.32% to -¥74,228,186.91 compared to -¥124,374,632.98 in the previous year[14]. - The total cash outflow from operating activities was 427,702,359.21 RMB in Q1 2020, compared to 435,216,036.23 RMB in Q1 2019, showing a decrease of about 2%[34]. - The company incurred cash outflows from investing activities totaling 22,243,996.55 RMB in Q1 2020, a decrease from 51,321,605.85 RMB in Q1 2019, indicating a reduction of about 57%[35]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,749,276,326.56, a decrease of 0.87% compared to the end of the previous year[6]. - Current liabilities totaled ¥1,213,311,043.07, slightly down from ¥1,233,073,154.43 in the previous year[17]. - Total liabilities amounted to ¥2,076,408,104.97, with current liabilities at ¥1,233,073,154.43 and non-current liabilities at ¥843,334,950.54[38]. - The company reported a cash balance of ¥131,856,273.18 and accounts receivable of ¥12,141,617.92[40]. - The company’s total current liabilities include contract liabilities of ¥117,182,003.26[41]. Shareholder Information - The number of shareholders at the end of the reporting period was 26,941[10]. - The top shareholder, Leshan State-owned Assets Investment and Operation Group Co., Ltd., held 19.24% of the shares[10]. Investment and Income - The company reported a non-recurring gain of CNY 19,271,626.45, primarily from a settlement agreement with a partner[8]. - Investment income rose significantly to ¥4,793,158.94 from a loss of ¥601,992.92 in the previous year[13]. - The company received 1,290,000.00 RMB in investment income during Q1 2020, compared to no income in Q1 2019[34]. - The company recorded a 1000.18% increase in non-operating income to ¥20,527,282.48 from ¥1,865,805.48[13]. Financial Expenses - Financial expenses increased by 95.55% to ¥9,314,056.63 due to a rise in interest-bearing liabilities[13]. - The financial expenses for Q1 2020 were ¥5,679,533.94, an increase from ¥4,259,728.48 in Q1 2019, indicating rising costs[27].

Financial Performance - The net profit attributable to shareholders for 2019 was CNY 89,234,940.80, representing a 10.31% increase compared to CNY 80,894,636.38 in 2018[6] - The operating revenue for 2019 was CNY 2,223,199,937.34, a 2.44% increase from CNY 2,170,337,886.35 in 2018[22] - The net profit excluding non-recurring gains and losses was CNY 55,992,775.62, which is a significant increase of 100.39% from CNY 27,941,935.85 in 2018[22] - Basic earnings per share increased by 10.31% to CNY 0.1657 in 2019 compared to CNY 0.1502 in 2018[23] - The total profit for the reporting period was CNY 140.40 million, an increase of 10.04% compared to CNY 127.57 million in the previous year[54] - The company reported a net profit attributable to shareholders of 89.23 million yuan, an increase of 10.31% year-on-year[46] Cash Flow and Assets - Cash flow from operating activities increased by 67.84% to CNY 281,509,330.77 from CNY 167,720,213.79 in the previous year[22] - Total assets at the end of 2019 were CNY 3,782,209,518.15, reflecting a 12.88% increase from CNY 3,350,584,568.25 in 2018[22] - The net assets attributable to shareholders increased by 9.28% to CNY 1,482,571,551.42 from CNY 1,356,707,046.52 in 2018[22] - The cumulative distributable profit at the end of 2019 was CNY -538,195,678.86, indicating ongoing financial challenges[6] Profit Distribution - The company did not propose any profit distribution for the year due to insufficient statutory reserve to cover previous losses[6] - The company plans to submit the profit distribution proposal to the annual shareholders' meeting for approval[6] - The company has a cash dividend policy that mandates a minimum cash distribution of 30% of the average distributable profit over the last three years, with a minimum of 80% cash distribution if there are no major cash expenditure plans[109] - The company did not distribute profits in 2018 due to negative retained earnings from the merger, but the cash dividend policy was strictly followed in 2019[112] Operational Efficiency - The company implemented measures to reduce internal operating costs, enhancing operational efficiency significantly[38] - The company has established a three-tier organizational structure to enhance operational efficiency and market responsiveness[36] - The company is focusing on transforming into a comprehensive energy service provider, integrating electricity, gas, water, and IoT technologies[36] - The company is committed to optimizing the business environment and improving service quality through various initiatives[39] Market and Business Expansion - The company is actively pursuing market expansion in the Suji New District and Guanying New District for water supply services[37] - The company is expanding its water supply business in urban areas, with a focus on improving water quality standards and integrating water resources[90] - The company plans to enhance its grid structure and improve supply security while controlling construction costs and increasing operational efficiency[83] - The company plans to expand its solar photovoltaic projects in the western regions of Sichuan, leveraging local geographical advantages[98] Risks and Challenges - The company has acknowledged potential risks in its future development strategies, which investors should consider[8] - The company plans to implement flexible pricing policies to support users affected by the COVID-19 pandemic, which may reduce operating profits for 2020[45] - The company is implementing measures to mitigate risks associated with power market reforms and the impact of the COVID-19 pandemic on its operations[105] Shareholder Information - As of the end of the reporting period, Leshan State Investment Group holds 103,608,320 shares, accounting for 19.24% of the total shares[144] - The total number of ordinary shareholders at the end of the reporting period is 28,007, an increase from 27,322 at the end of the previous month[146] - The company does not have a controlling shareholder or actual controller as per the legal opinion provided by Sichuan Yingjie Law Firm[150] Governance and Management - The company emphasizes compliance and risk management through its dedicated compliance management department[162] - The board of directors consists of 11 members, including 4 independent directors, with no controlling shareholder or actual controller identified[174] - The company has established a sound corporate governance structure, with specialized committees such as the remuneration and assessment committee, audit committee, nomination committee, and strategy committee[175] - The management team has been actively involved in the company’s operational and strategic decisions since 2014[162] Social Responsibility - The company donated CNY 970,000 for poverty alleviation projects in Xingxing Village, focusing on grassroots party building, rural tourism infrastructure, and agricultural development[132] - The poverty alleviation program has successfully reduced the poverty incidence in Xingxing Village to 0% by 2018, with high-quality poverty alleviation achieved[131] - The company plans to enhance infrastructure and promote rural tourism, aiming to increase tourist capacity and develop a new model of agricultural-tourism integration[137]

Financial Performance - Net profit attributable to shareholders rose by 20.60% to CNY 164,519,374.42 for the first nine months[7] - Basic and diluted earnings per share increased by 20.60% to CNY 0.3056[7] - The company's net loss for the first three quarters of 2019 was CNY -922,441,048.99, an improvement from CNY -1,071,490,461.36 in the same period of 2018[21] - The net profit for Q3 2019 was CNY 52,156,860.36, down 33.3% from CNY 78,219,956.93 in Q3 2018[24] - The total profit for Q3 2019 was CNY 57,474,895.28, a decrease of 30.2% compared to CNY 82,207,882.99 in Q3 2018[24] - The company's operating profit for Q3 2019 was CNY 59,962,076.72, down 23.7% from CNY 78,653,450.11 in Q3 2018[24] - The company's total comprehensive income for Q3 2019 was CNY 52,156,860.36, compared to CNY 78,219,956.93 in Q3 2018, a decrease of 33.3%[24] Revenue and Costs - Revenue for the first nine months slightly decreased by 0.54%, amounting to CNY 1,597,120,594.06[7] - Total operating revenue for Q3 2019 was CNY 533,033,957.49, slightly up from CNY 529,042,601.25 in Q3 2018, while total revenue for the first three quarters of 2019 was CNY 1,597,120,594.06, down from CNY 1,605,820,722.10 in the same period of 2018[22] - Total operating costs for Q3 2019 were CNY 475,439,518.38, compared to CNY 498,477,447.51 in Q3 2018, with total costs for the first three quarters of 2019 at CNY 1,472,624,338.25, down from CNY 1,508,395,804.21 in 2018[22] - Operating expenses for the first three quarters of 2019 amounted to CNY 1,760,510,034.28, up from CNY 1,609,540,023.73 in the same period of 2018, marking an increase of approximately 9.4%[30] Assets and Liabilities - Total assets increased by 9.29% year-on-year, reaching CNY 3,661,994,739.01[7] - The company's total assets increased to CNY 3,661,994,739.01 from CNY 3,350,584,568.25, reflecting growth in both current and non-current assets[16] - Total liabilities increased to CNY 1,427,678,892.00 in Q3 2019 from CNY 1,286,473,229.86 in Q3 2018[21] - The total liabilities and equity combined reached CNY 3,350,584,568.25[37] - Total liabilities amounted to approximately $1.29 billion, with total equity at around $971.57 million[42] Cash Flow - Operating cash flow increased significantly by 84.90%, totaling CNY 252,895,779.98[7] - Net cash flow from operating activities for the first three quarters of 2019 was CNY 252,895,779.98, compared to CNY 136,773,291.83 in the previous year, indicating a significant increase of about 84.9%[30] - The cash flow from operating activities showed a strong recovery, indicating improved operational efficiency and cash management strategies[31] - Cash and cash equivalents decreased to CNY 130,247,319.19 in Q3 2019 from CNY 219,271,791.21 in Q3 2018[20] - Cash received from investment activities totaled CNY 32,593,568.35 in the first three quarters of 2019, compared to CNY 10,568,777.78 in the same period of 2018, showing a substantial increase[30] Shareholder Information - The total number of shareholders reached 28,317 by the end of the reporting period[9] - The top ten shareholders collectively hold 66.32% of the company's shares, with the largest shareholder owning 19.24%[10] Investments - Long-term equity investments rose by 158.39% to CNY 423,571,876.32 from CNY 163,929,460.99, mainly due to the establishment of Jinjiang Xinjiazhu Company and subsequent investments[12] - The company reported an investment income of CNY 2,278,209.25 in Q3 2019, down from CNY 52,662,956.09 in Q3 2018[22] - Investment activities resulted in a net cash outflow of CNY 369,713,021.05 for the first three quarters of 2019, compared to a net outflow of CNY 194,009,391.40 in the previous year[30] Other Financial Metrics - The weighted average return on equity improved by 1.27 percentage points to 11.42%[7] - The company's income tax expense increased by 38.71% to CNY 14,212,992.98 from CNY 10,246,260.72, attributed to higher tax provisions during the reporting period[13] - The company reported a credit impairment loss of CNY 1,073.30 in Q3 2019, compared to a loss of CNY 2,246,975.54 in the same period last year[24]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,064,086,636.57, a decrease of 1.18% compared to CNY 1,076,778,120.85 in the same period last year[20]. - The net profit attributable to shareholders of the listed company increased by 95.22% to CNY 113,205,474.87 from CNY 57,987,972.29 year-on-year[20]. - The net cash flow from operating activities reached CNY 73,282,057.30, representing a significant increase of 323.29% compared to CNY 17,312,338.27 in the previous year[20]. - The total assets of the company at the end of the reporting period were CNY 3,538,508,225.27, an increase of 5.61% from CNY 3,350,584,568.25 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 8.50% to CNY 1,472,024,304.64 from CNY 1,356,707,046.52 at the end of the previous year[20]. - Basic earnings per share for the first half of 2019 were CNY 0.2103, up 95.22% from CNY 0.1077 in the same period last year[21]. - The weighted average return on net assets increased by 3.54 percentage points to 7.99% from 4.45% in the previous year[21]. - The operating profit increased by 68.89% to 127.94 million yuan from 75.75 million yuan in the previous year[33]. - The company reported a net profit attributable to shareholders of 113.21 million yuan, an increase of 95.22% compared to 57.98 million yuan in the previous year[33]. Revenue and Sales - The company achieved a total electricity generation of 184 million kWh, a decrease of 15.96% compared to 218 million kWh in the same period last year[33]. - The total electricity sales volume was 1.41 billion kWh, down 6.82% from 1.54 billion kWh year-on-year[33]. - The company completed gas sales of 88.86 million cubic meters, an increase of 6.56% from 83.39 million cubic meters year-on-year[33]. - The company achieved water sales of 18.57 million cubic meters, a growth of 22.25% compared to 15.19 million cubic meters in the same period last year[33]. Investments and Assets - The company successfully transferred 4.16% equity in Sichuan Yongfeng Paper Co., Ltd. for ¥22,500,000, completing the divestment of its stake[36]. - The total assets increased by 97.82% in long-term equity investments to ¥324,289,779.42, primarily due to increased investments in Leshan Jinjiang Xinjiazhu Cultural Tourism Co., Ltd. and Shengtian New Energy Co., Ltd.[43]. - The company completed the second phase investment of ¥95,289,000 in Shengtian New Energy Co., Ltd. during the reporting period[46]. - The company recognized an investment income of 16.45 million yuan from the disposal of equity in Yongfeng Paper Industry[27]. Financial Management - The company’s financial expenses decreased by 1.59% to ¥10,173,200.93, mainly due to a reduction in interest income[39]. - The company’s long-term borrowings increased by 102% to ¥404,000,000.00, reflecting an increase in financing scale during the reporting period[43]. - The company’s sales expenses decreased slightly by 1.34% to ¥44,654,201.25, due to enhanced cost control measures[39]. - The company reported a significant legal dispute involving Sichuan Water Investment Group, with a total of RMB 1.69 million in funds frozen and RMB 2.36 million in funds under seizure as of the report date[63]. Shareholder and Capital Structure - The total number of ordinary shareholders at the end of the reporting period was 29,305[87]. - Leshan Guotou Group holds 103,608,320 shares, accounting for 19.24% of the total shares[86]. - Tianjin Zhonghuan Electronic Information Group Co., Ltd. holds 79,470,198 shares, representing 14.76% of the total shares[90]. - The company reported no changes in the total number of shares and capital structure during the reporting period[84]. - The company has cumulative pledged shares of 22,860,700, which is 4.25% of the total shares[86]. Poverty Alleviation and Community Development - The company donated RMB 970,000 for ecological agriculture and rural tourism projects in Xingxing Village as part of its poverty alleviation efforts[71]. - A total of RMB 7 million was provided as a guarantee for a project loan related to wastewater treatment in ten towns, with the guarantee amount representing 4.76% of the company's net assets[71]. - The company has contributed over RMB 4.2 million to various poverty alleviation projects in Xingxing Village, focusing on infrastructure and community development[75]. - The company implemented a new poverty alleviation model centered on ecological agriculture and rural tourism, with seven industry-related projects initiated[75]. - The poverty incidence rate in Xingxing Village dropped to 0% in 2018, indicating successful poverty alleviation efforts[75]. Operational Risks and Challenges - The company faces operational risks in its electricity business due to market contraction and increased competition in gas and water installation services[55]. - The company aims to optimize its operational model and enhance market competitiveness to address the challenges in the electricity and water supply sectors[56]. Accounting and Financial Reporting - The company will adopt a new expected credit loss model for financial asset impairment, replacing the previous incurred loss model, effective from January 1, 2019[78]. - The company reported a change in accounting policies regarding financial instruments, impacting the classification of non-trading equity instruments to fair value measurement[78]. - The company has established a comprehensive approach to assess expected credit losses based on debtor credit characteristics and aging categories[79]. - The company classifies financial assets into three categories: amortized cost, fair value through profit or loss, and fair value through other comprehensive income[162]. Corporate Governance - The company appointed Zhongtianyun Accounting Firm (Special General Partnership) as the auditor with a remuneration of RMB 860,000 for an 8-year term[62]. - The company appointed new board members and management, including the election of Lin Shuangqing as Chairman and Qiao Xiangdong as General Manager[94].