Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2022, reflecting a year-on-year increase of 15%[11]. - The net profit attributable to shareholders reached 300 million CNY, representing a growth of 20% compared to the same period last year[11]. - The company's operating revenue for the first half of the year reached ¥10,970,712,179.51, a 33.94% increase compared to ¥8,190,910,397.00 in the same period last year[16]. - Net profit attributable to shareholders was ¥1,166,461,592.16, representing a significant increase of 142.01% from ¥481,991,043.00 year-on-year[16]. - The basic earnings per share rose to ¥0.17, up 142.86% from ¥0.07 in the previous year[17]. - The company generated a net cash flow from operating activities of ¥2,337,393,523.00, a 64.32% increase from ¥1,422,463,926.60 year-on-year[16]. - The company's total comprehensive income for the first half of 2022 was CNY 1,576,738,752.80, compared to CNY 214,303,290.74 in the same period last year, reflecting a growth of about 638%[119]. - The total profit for the first half of 2022 was CNY 1,688,590,372.24, compared to CNY 462,340,723.19 in the previous year, indicating an increase of approximately 264%[118]. Operational Capacity and Production - The total installed capacity of the company is 5,000 MW, with a utilization rate of 85% during the reporting period[11]. - The company completed a total electricity generation of 29.015 billion kWh, marking a 6.68% increase from the same period last year[18]. - The company's coal production was 3.5909 million tons, representing a year-on-year growth of 9.74%[23]. - The average utilization hours for thermal power generation were 2,456 hours, an increase of 50 hours year-on-year[25]. - The company's controllable installed capacity reached 12.8462 million kW, and equity installed capacity was 15.6244 million kW, maintaining a high market share in the Inner Mongolia power market[29]. Renewable Energy Initiatives - The company plans to expand its market presence by increasing its renewable energy projects, targeting a 30% increase in renewable capacity by 2025[11]. - The company plans to accelerate the development of renewable energy projects, with a new subsidiary established to manage a 380,000 kW flexible energy project[25]. - The company increased its wind power installed capacity to 1.3762 million kW and solar power capacity to 70,000 kW, enhancing its renewable energy proportion[29]. - The company has initiated research and development for new energy technologies, with an investment of 50 million CNY allocated for 2022[11]. Environmental and Regulatory Compliance - The management emphasized a focus on environmental protection and compliance with regulations in the energy sector[5]. - The company has completed ultra-low emission transformations for all its units, enhancing its environmental protection efforts[52]. - The company established pollution control facilities, achieving a dust removal efficiency of 99.95% and a desulfurization efficiency of 99.05%[68]. - The company has developed emergency response plans for various environmental incidents, ensuring preparedness for potential pollution events[64]. - The company’s subsidiaries have all obtained pollution discharge permits and are operating in compliance with environmental regulations[61]. Financial Position and Investments - The company maintains a strong financial position with no non-operational fund occupation by controlling shareholders[4]. - The company received a special loan of 330 million RMB at a rate of 2.05% for clean and efficient coal utilization, marking the lowest financing rate in Inner Mongolia in recent years[31]. - The company’s total current assets reached approximately ¥6.83 billion, an increase from ¥5.73 billion at the end of the previous year[110]. - The company’s long-term equity investments increased to approximately ¥1.86 billion, up from ¥1.75 billion, indicating growth in investment activities[110]. - The company reported a significant increase in undistributed profits to CNY 3,450,399,043.42 from CNY 2,996,392,995.04, representing a growth of approximately 15.1%[112]. Risks and Challenges - There were no significant risks identified that could materially affect the company's operations during the reporting period[5]. - The company faces risks related to the transition to clean energy, which may negatively impact traditional coal-fired power generation due to stricter policies and market competition[49]. - The company’s coal power generation capacity is expected to be affected by the implementation of the "dual control" energy policy, limiting coal consumption in certain regions[49]. Shareholder and Corporate Governance - The company has no plans for profit distribution or capital increase through reserves for this reporting period[3]. - The largest shareholder, Northern United Power Group Co., Ltd., holds 3,305,473,803 shares, representing 50.64% of the total shares[96]. - The company has appointed a new chairman of the supervisory board following the resignation of the previous chairman[58]. - Northern Company commits to fair pricing and transparency in related party transactions, adhering to legal and regulatory requirements[78]. Future Outlook - Future outlook includes continued investment in technology and market expansion strategies to sustain growth momentum[116]. - The company aims to enhance its operational management and expand its clean energy offerings in line with national carbon neutrality goals[27].

Financial Performance - The company's operating revenue for 2021 was approximately ¥18.93 billion, representing a 23.26% increase compared to ¥15.36 billion in 2020[20]. - The net profit attributable to shareholders for 2021 was approximately ¥452.25 million, a decrease of 40.42% from ¥759.06 million in 2020[20]. - The net cash flow from operating activities for 2021 was approximately ¥3.09 billion, down 20.92% from ¥3.91 billion in 2020[20]. - The total assets at the end of 2021 were approximately ¥41.48 billion, a decrease of 3.20% from ¥42.86 billion at the end of 2020[20]. - The basic earnings per share for 2021 was ¥0.05, a decline of 54.55% compared to ¥0.11 in 2020[21]. - The weighted average return on equity for 2021 was 2.68%, down from 5.63% in 2020, reflecting a decrease of 2.95 percentage points[21]. - The company reported a total net asset attributable to shareholders of approximately ¥16.15 billion at the end of 2021, an increase of 8.65% from ¥14.87 billion at the end of 2020[20]. - The company achieved operating revenue of 18.934 billion RMB, an increase of 3.573 billion RMB, representing a year-on-year growth of 23.26%[32]. - The company reported a net profit attributable to the parent company of 452 million RMB, a decrease of 40.42% year-on-year[32]. Dividend and Profit Distribution - The profit distribution plan for 2021 proposes a cash dividend of 1 RMB per 10 shares, totaling approximately 652.69 million RMB based on the total share capital of 6,526,887,811 shares as of December 31, 2021[4]. - The company’s cash dividend policy stipulates that at least 70% of the distributable profit from the consolidated financial statements will be distributed as cash dividends each year, with a minimum of ¥0.09 per share[171]. - The company has committed to distributing at least 70% of its annual distributable profits as cash dividends from 2022 to 2024, with a minimum payout of 0.1 RMB per share (including tax)[173]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period, with a focus on addressing risks related to electricity, coal, and environmental protection in 2022[7]. - The company is committed to strengthening its market risk management and optimizing its electricity trading strategies to safeguard its interests[103]. - The company faces risks from the ongoing COVID-19 pandemic, which may impact macroeconomic conditions and energy demand[124]. - The company anticipates challenges from the transition to clean energy, which may affect traditional coal power operations and lead to a decrease in operating hours for coal-fired units[125]. Environmental and Sustainability Efforts - The company is actively promoting the development of renewable energy in line with national green energy transition policies[43]. - The company has completed ultra-low emission renovations for all units and is enhancing its environmental protection measures, aiming to create a resource-saving and environmentally friendly enterprise[129]. - The company has established effective pollution control facilities, including desulfurization, denitrification, and dust removal, all meeting or exceeding national emission standards[188]. - The company is committed to enhancing ecological environment protection and has strengthened pollutant discharge management to meet national standards[200]. - The company has made significant progress in green mining construction, with the Weijia Mountain coal mine listed among the national green mines[195]. Operational Highlights - The company’s coal production reached 7,103,600 tons, marking an 18.39% year-on-year increase[46]. - The company’s coal sales volume reached 3.6598 million tons, a year-on-year increase of 10.49%[59]. - The company’s coal price (standard coal) increased to 618.77 RMB/ton, up 52.38% year-on-year[31]. - The company’s total controllable installed capacity reached 12,846,200 kW, with coal-fired capacity accounting for 88.74% and renewable energy capacity 11.26%[45]. - The company achieved a coal sales volume growth of 10.49% year-on-year, with an average sales price of 545.47 RMB/ton, an increase of 86.08% year-on-year[41]. Corporate Governance - The company has implemented a robust internal control system to safeguard shareholder interests and enhance corporate governance[131]. - The company received an A-level rating for information disclosure from the Shanghai Stock Exchange for five consecutive years, emphasizing compliance and quality improvement in disclosures[134]. - The company has committed to reducing related party transactions and has established a framework for fair and transparent pricing in such transactions[137]. - The company has established a comprehensive internal control system to enhance risk management and operational efficiency, including revisions to key governance documents[178]. Future Strategies - The company plans to accelerate the development of renewable energy projects in line with the "14th Five-Year Plan" for renewable energy in Inner Mongolia[121]. - The company aims to enhance its clean energy ratio and actively promote carbon reduction development, optimizing the coal power structure through various strategies[126]. - The company anticipates an increase in domestic coal supply due to the commissioning of new permanent capacity in 2022, while coal prices are expected to stabilize[88]. - The company is focused on implementing a green development strategy and promoting sustainable practices[200]. Employee and Management - The company had a total of 6,200 employees, with 1,831 in the parent company and 4,369 in major subsidiaries[166]. - The company has established a comprehensive employee training program, utilizing online resources to enhance employee skills[168]. - The total remuneration for directors and senior management during the reporting period included amounts such as 7.45 million yuan for independent directors and 3.56 million yuan for the general manager[146]. - The management team includes key personnel such as Wang Weishi, who serves as the Party Secretary and Deputy General Manager[148].

Financial Performance - The company's operating revenue for Q3 2021 was ¥5,041,240,168.64, an increase of 26.68% compared to the same period last year[4]. - The net profit attributable to shareholders was a loss of ¥236,928,975.48, representing a decrease of 176.96% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥245,001,002.55, down 181.54% from the previous year[4]. - The basic earnings per share for Q3 2021 was -¥0.05, a decrease of 200.00% compared to the same period last year[5]. - The diluted earnings per share for Q3 2021 was -¥0.04, a decrease of 180.00% year-on-year[5]. - The net profit for Q3 2021 was -114,851,698.95 CNY, compared to a net profit of 1,101,004,767.04 CNY in the same period last year[22]. - Total comprehensive income for Q3 2021 was -256,133,554.43 CNY, while it was 1,052,042,747.42 CNY in Q3 2020[23]. Revenue and Costs - In the first three quarters of 2021, the company achieved operating revenue of CNY 1,316,442.90 million, an increase of 16.76% year-on-year[13]. - Total operating revenue for the first three quarters of 2021 reached ¥13,164,428,967.28, an increase from ¥11,275,188,445.28 in the same period of 2020, representing a growth of approximately 16.76%[19]. - Total operating costs for the first three quarters of 2021 were ¥13,140,132,311.77, compared to ¥10,311,262,078.47 in 2020, indicating an increase of about 27.3%[21]. - Operating profit for the first three quarters of 2021 was ¥88,351,602.94, a significant decrease from ¥1,317,184,168.16 in the previous year[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥41,654,290,414.95, a decrease of 2.81% from the end of the previous year[5]. - The total assets as of the end of the third quarter of 2021 amounted to ¥41,654,290,414.95, down from ¥42,857,453,730.16 at the end of the previous year[18]. - Total liabilities decreased to ¥23,679,340,415.95 from ¥24,687,196,545.03 year-over-year[18]. - The company's long-term equity investments were valued at CNY 1,813,276,025.23 as of September 30, 2021, down from CNY 1,976,538,007.65 at the end of 2020[16]. - Current assets totaled CNY 3,942,251,249.89, with cash and cash equivalents at CNY 294,922,081.92[26]. - Long-term borrowings increased to ¥12,423,238,397.42 from ¥12,187,330,631.26, showing a growth of approximately 1.93%[18]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥2,288,549,672.85, down 31.05% compared to the previous year[5]. - Cash flow from operating activities for the first three quarters of 2021 was 2,288,549,672.85 CNY, compared to 3,319,378,008.70 CNY in the same period of 2020[25]. - Total cash outflow from operating activities in Q3 2021 was 10,424,848,517.40 CNY, compared to 6,553,242,650.98 CNY in the same period last year[25]. - Cash flow from investing activities for Q3 2021 was -575,291,085.86 CNY, compared to -475,220,821.29 CNY in Q3 2020[25]. - Cash flow from financing activities in Q3 2021 was -1,522,807,404.07 CNY, compared to -3,006,869,207.50 CNY in the previous year[25]. - The total cash and cash equivalents at the end of Q3 2021 was 411,848,653.49 CNY, up from 326,271,068.56 CNY at the end of Q3 2020[25]. Production and Pricing - The company completed a power generation of 429.17 billion kWh, a decrease of 0.34% compared to the same period last year[13]. - The average selling price of electricity was CNY 285.95 per MWh, an increase of CNY 25.24 per MWh, or 9.68% year-on-year[13]. - Coal production reached 4.9013 million tons, an increase of 15.62% year-on-year, while coal sales volume increased by 32.11% to 2.8546 million tons[13]. - The average selling price of coal was CNY 511.33 per ton, an increase of CNY 232.84 per ton, or 83.61% year-on-year[13]. - The benchmark coal price for the company's thermal power plants was CNY 587.79 per ton, an increase of CNY 194.12 per ton, or 49.31% year-on-year[13]. - The increase in coal prices significantly impacted the company's profitability, leading to higher fuel costs for thermal power generation[9]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 242,525[10]. - The company's retained earnings decreased to ¥2,740,081,357.64 from ¥3,375,577,724.77, indicating a decline of about 18.77%[18]. Research and Development - Research and development expenses for the first three quarters of 2021 were reported at ¥9,026,876.57, with no previous year data available for comparison[21]. Accounting Changes - The company adopted the new lease accounting standard effective January 1, 2021, impacting the balance sheet with a right-of-use asset of CNY 10,453,074.43[30]. - The adjustment to long-term prepaid expenses was CNY -10,453,074.43 due to the new lease standard[30]. - The company reported a decrease in long-term prepaid expenses to CNY 939,939,516.00 after the adjustment[30]. - The financial impact of the new lease standard did not have a significant effect on the company's financial position or cash flows[29].

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year increase of 15%[10]. - The net profit attributable to shareholders was 300 million CNY, up 20% compared to the same period last year[10]. - The company's operating revenue for the first half of 2021 was CNY 8,123,188,798.64, representing an increase of 11.34% compared to CNY 7,295,715,171.16 in the same period last year[17]. - The net profit attributable to shareholders decreased by 35.39% to CNY 441,761,180.45 from CNY 683,765,308.40 year-on-year[17]. - The net cash flow from operating activities was CNY 1,375,979,248.80, down 37.46% from CNY 2,200,117,183.00 in the previous year[17]. - The company's basic earnings per share decreased by 45.45% to CNY 0.06 from CNY 0.11 in the same period last year[18]. - The weighted average return on equity fell by 2.14 percentage points to 3.15% compared to 5.29% in the previous year[18]. - The company achieved operating revenue of 8.12 billion RMB, an increase of 11.34% year-on-year, with power product sales revenue reaching 6.94 billion RMB, up 2.52%[31]. - The net profit attributable to the parent company was 442 million RMB, a decrease of 35.39% year-on-year, primarily due to rising coal prices and energy consumption controls[31]. - The company reported a significant increase in other payables, totaling 2.372 billion RMB, a decrease of 11.37% compared to the previous period[38]. Operational Capacity - The total installed capacity of the company reached 5,000 MW, with a utilization rate of 85% during the reporting period[10]. - The total installed capacity of the company's power plants reached 12,846,200 kW, with coal-fired capacity accounting for 88.74%[22]. - The company’s controllable installed capacity was 12.8462 million kW, maintaining a significant market share in Inner Mongolia[26]. - The company plans to eliminate 953,500 kW of backward coal power capacity by 2023, enhancing the development of renewable energy[26]. - The company generated 3.5 billion kWh of electricity, marking a 10% increase from the previous year[10]. - The company completed a total power generation of 27,032,000,000 kWh, a decrease of 2.73% year-on-year[23]. Market and Pricing - The average on-grid electricity price was 0.45 CNY/kWh, which is stable compared to the previous year[10]. - The average on-grid electricity price increased by 5.28% to CNY 276.77 per MWh compared to the previous year[23]. - The coal sales price rose by 67.11% to CNY 439.67 per ton year-on-year[23]. - The company's coal production increased by 31.25% to 3,272,300 tons compared to the same period last year[23]. - The company reported a significant increase in coal prices, with some large power generation groups experiencing a 50.5% year-on-year rise in coal prices by June 2021[26]. Environmental Commitment - The management emphasized a commitment to environmental protection and compliance with regulations in the energy sector[5]. - The company has implemented advanced technologies such as flexible transformation and energy-saving measures, with 35 new utility model patents filed in the first half of 2021[28]. - The company achieved a 100% operational rate for dust removal facilities, with a dust removal efficiency of 99.9%[61]. - The desulfurization facilities also maintained a 100% operational rate, achieving a desulfurization efficiency of 98.9%[61]. - The denitrification facilities had a 99.8% operational rate, with a denitrification efficiency of 84%[61]. - The company reported a total of 20 million yuan in fines due to environmental violations, with all issues rectified[64]. - The company has implemented a comprehensive emergency response plan for environmental incidents, including specific plans for various pollution sources[62]. - The company’s subsidiaries have achieved compliance with national environmental protection requirements, obtaining pollution discharge permits[63]. Strategic Initiatives - The company plans to expand its renewable energy capacity by 30% over the next three years, focusing on wind and solar projects[10]. - The company is exploring potential mergers and acquisitions to enhance its market position and operational efficiency[10]. - The company is committed to continuous development and acquisition strategies, enhancing its renewable energy ratio and achieving synergistic benefits from coal and electricity operations[30]. - The company plans to accelerate its green transition by increasing the proportion of clean energy and optimizing its coal power structure through various strategies[49]. - The company has successfully commercialized the Wudale Wind Power Project in April 2021, furthering its expansion in renewable energy[69]. Financial Management - The company's total assets increased, with cash and cash equivalents at approximately 549 million RMB, up 86.02% year-on-year[36]. - The company's short-term borrowings decreased by 9.67% year-on-year, optimizing the debt structure[36]. - The company will ensure that the funds for debt repayment will primarily come from cash flows generated from operating and investment activities, bank loans, and bond issuance[133]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[88]. - The company has not made any adjustments to its profit distribution policy during the reporting period[84]. Shareholder Information - The company plans to distribute at least 70% of the distributable profit from the consolidated financial statements as cash dividends each year from 2022 to 2024, with a minimum dividend of 0.1 RMB per share (including tax)[84]. - The total amount of daily related party transactions with the controlling shareholder, North Company, was 922 million RMB for product sales and 191 million RMB for raw material purchases during the reporting period[89]. - The company has committed to a clear shareholder return plan every three years, which will be submitted for shareholder meeting approval[84]. - The company has not experienced any losses due to ownership defects during the reporting period[85]. - The company has a total of 5,808,544,548 shares outstanding as of the end of the reporting period, with a slight increase of 6,352 shares during the period[101]. Debt and Liquidity - The company's current ratio improved to 0.48 from 0.37, and the quick ratio increased to 0.44 from 0.34, reflecting better liquidity management[125]. - The debt-to-asset ratio stood at 58.13%, slightly up from 57.60% at the end of the previous year[125]. - The interest coverage ratio decreased to 2.05 from 2.97, indicating a decline in the company's ability to cover interest expenses[125]. - The company maintains a loan repayment rate of 100% and an interest payment rate of 100%[125]. - The company has not triggered any investor protection clauses related to its perpetual medium-term notes as of the report date[121]. Accounting and Financial Reporting - The company assesses expected credit losses for financial instruments classified at amortized cost, reflecting the present value of the difference between contractual cash flows and expected cash flows[180]. - The company recognizes expected credit losses for other receivables based on whether the credit risk has significantly increased since initial recognition[192]. - The company measures held-for-sale fixed assets at the lower of carrying amount or fair value less costs to sell, with no depreciation or amortization applied[198]. - The company reflects the carrying value of long-term debt investments at amortized cost on the balance sheet, with those maturing within one year classified as current assets[198]. - The company recognizes non-current assets as held for sale if they can be sold immediately under normal terms and have received necessary approvals[198].

Financial Performance - Operating revenue for the period was approximately CNY 3.74 billion, an increase of 12.08% year-on-year[4] - Net profit attributable to shareholders was approximately CNY 141.33 million, reflecting a year-on-year increase of 10.41%[4] - The company achieved a total profit of 84.76 million RMB, a decrease of 47.02% year-on-year; net profit was 19.26 million RMB, down 81.38% year-on-year[12] - The company's total operating revenue for Q1 2021 was CNY 3,740,732,936.44, an increase of 12.06% compared to CNY 3,337,628,440.59 in Q1 2020[23] - Net profit for Q1 2021 was CNY 19,257,178.54, a decrease of 81.45% from CNY 103,437,849.49 in Q1 2020[24] - The company's operating revenue for Q1 2021 was ¥232,821,643.45, a decrease of 11.88% compared to ¥264,110,841.72 in Q1 2020[26] - The net profit for Q1 2021 was a loss of ¥55,422,901.50, compared to a profit of ¥21,844,117.02 in Q1 2020, indicating a significant decline[28] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 42.36 billion, a decrease of 1.17% compared to the end of the previous year[4] - The company's total assets amounted to CNY 26,199,282,582.26, a slight decrease from CNY 26,422,760,892.72 at the end of the previous period[22] - Total liabilities decreased to ¥23,958,672,992.75 from ¥24,687,196,545.03, a decline of approximately 2.95%[17] - The company's total equity was CNY 13,961,178,818.47, a decrease from CNY 13,993,103,370.72 in the previous period[22] - The company reported a total asset value of $42,857,453,730.16, with total liabilities amounting to $22,251,234,000.00[33] - Total liabilities amounted to approximately ¥24.69 billion, with non-current liabilities totaling around ¥14.12 billion[34] Cash Flow - Net cash flow from operating activities was approximately CNY 509.93 million, a decrease of 44.91% compared to the same period last year[4] - Cash flow from operating activities for Q1 2021 was ¥509,927,763.17, down from ¥925,594,141.90 in Q1 2020, a decrease of 45.0%[29] - The net cash flow from operating activities was $44,046,850.53, a decrease of 13.5% compared to $51,133,170.90 in the previous year[31] - Cash inflow from investment income was $304,756,908.92, a substantial increase from $40,584,351.52 in the previous year[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 172,966[8] - The largest shareholder, Northern United Power Group Co., Ltd., held 56.91% of the shares[8] - Basic earnings per share remained at CNY 0.018, unchanged from the previous year[4] - Basic earnings per share for Q1 2021 remained at CNY 0.018, unchanged from Q1 2020[25] Operational Metrics - The company completed a power generation of 12.407 billion kWh, which remained stable compared to the same period last year[12] - Coal production reached 1.627 million tons, a year-on-year increase of 49.14%; coal sales volume was 1.0789 million tons, up 110.16% year-on-year[12] - The average selling price of electricity was 272.46 RMB per MWh, an increase of 3.38% year-on-year[12] - The average selling price of coal was 363.56 RMB per ton, reflecting a year-on-year increase of 31.62%[12] Changes in Financial Position - The balance of accounts receivable decreased by 21 million RMB, a reduction of 38.44%[13] - The balance of prepayments increased by 48 million RMB, a growth of 465.65%[13] - The company reported a decrease in contract liabilities by 64 million RMB, a reduction of 97.50%[13] - The company’s cash and cash equivalents increased by 238 million RMB, a growth of 80.58% compared to the beginning of the period[12] - Other comprehensive income rose to ¥394,983,971.93 from ¥373,978,013.62, an increase of approximately 5.63%[18] Research and Development - Research and development expenses for Q1 2021 were CNY 3,350,948.04, reflecting ongoing investment in innovation[24]

Dividend Distribution - The company plans to distribute a cash dividend of 1.26 CNY per 10 shares to all shareholders for the 2020 annual profit distribution plan[3]. - The cash dividend policy stipulates that the company will distribute at least 70% of the annual distributable profit as cash dividends, with a minimum payout of RMB 0.09 per share[95]. - In 2020, the company proposed a cash dividend of 1.26 RMB per 10 shares, totaling 731,875,812.70 RMB (including tax), which represents a cash dividend payout ratio of 112.42% of the net profit attributable to shareholders[97]. - The cash dividend distribution plan has been approved by the board and will be submitted for shareholder approval[97]. Financial Performance - The company's operating revenue for 2020 was CNY 15,360,550,807.48, representing a 6.10% increase from CNY 14,477,160,212.77 in 2019[18]. - Net profit attributable to shareholders for 2020 was CNY 759,063,637.28, a decrease of 31.25% compared to CNY 1,104,058,503.79 in 2019[18]. - The net cash flow from operating activities for 2020 was CNY 3,912,858,515.65, showing a slight increase of 0.79% from CNY 3,882,115,489.01 in 2019[18]. - Basic earnings per share for 2020 was CNY 0.11, down 35.29% from CNY 0.17 in 2019[19]. - The company's total assets as of the end of 2020 were CNY 42,857,453,730.16, a decrease of 3.93% from CNY 44,609,324,444.10 at the end of 2019[18]. - The weighted average return on equity for 2020 was 5.63%, a decrease of 3.18 percentage points from 8.81% in 2019[19]. Operational Highlights - The company achieved a total power generation of 57.711 billion kWh in 2020, representing a year-on-year increase of 4.27%[26]. - The average on-grid electricity settlement price was 260.21 RMB per MWh, an increase of 1.5% compared to the previous year[26]. - The company controlled installed capacity reached 12.851 million kW, with coal-fired power generation accounting for 88.71% and renewable energy capacity at 11.29%[26]. - The company maintained a coal production capacity of 6 million tons in 2020, which remained stable compared to the previous year[26]. - The total installed capacity in Inner Mongolia reached 14.65 million kW in 2020, with a year-on-year growth of 13.3%[27]. Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[6]. - The company will focus on addressing risks related to electricity, coal, and environmental protection in 2021[6]. Governance and Compliance - The company has received a standard unqualified audit report from Zhongchuan Asia Pacific Accounting Firm[2]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[5]. - The company has not violated any decision-making procedures in providing guarantees[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible persons[2]. - The company has a strong governance structure, ensuring effective protection of shareholder interests and maintaining a good market reputation[31]. Environmental Responsibility - The company is committed to improving safety and environmental standards, implementing a three-year action plan for safety production, and participating in carbon market trading[88]. - The company has implemented zero wastewater discharge measures at several of its subsidiaries[130]. - The company achieved zero infections during the pandemic and maintained stable production operations[33]. - The company has established emergency response plans for environmental incidents, including specific plans for hazardous chemical leaks and severe weather conditions[134]. Research and Development - The company applied for 105 patents during the reporting period, with a total of 45 patents granted[31]. - The company plans to increase R&D investments during the "14th Five-Year Plan" period to achieve breakthroughs in energy conservation and renewable energy operations[52]. - The company has allocated 500 million RMB for research and development in the upcoming fiscal year[175]. Market Strategy - The company plans to expand its market presence through strategic investments and technological upgrades in the coming years[69]. - The company aims to enhance its competitiveness by focusing on clean energy transformation and optimizing its energy structure during the "14th Five-Year Plan" period[86]. - The company plans to actively participate in various market transactions to enhance competitiveness amid increasing market risks and changes in electricity pricing mechanisms[92]. Shareholder Relations - The company will provide opportunities for minority shareholders to express opinions on profit distribution and policy changes[108]. - The company has committed to addressing any asset ownership issues and will evaluate their impact on future operations[108]. - The company has maintained a stable shareholder structure, with the controlling shareholder remaining unchanged during the reporting period[159]. Employee Management - The total remuneration for the board members and senior management during the reporting period amounted to 488.35 million yuan[172]. - The company emphasizes employee training and has utilized online resources to conduct training amid the pandemic[187]. - The company has implemented a performance assessment system to enhance employee evaluation and link salaries to performance[186]. Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion[175]. - The management team emphasized the importance of sustainability initiatives, aiming for a 40% reduction in carbon emissions by 2025[175].