Financial Performance - The company's operating revenue for Q3 2022 was CNY 992,605,953.93, a decrease of 1.22% compared to the same period last year[6]. - Net profit attributable to shareholders was CNY 197,510,182.77, representing a year-on-year increase of 16.69%[7]. - The net profit after deducting non-recurring gains and losses was CNY 175,810,260.31, which is a 29.89% increase year-on-year[7]. - Basic earnings per share for Q3 2022 was CNY 0.07, an increase of 16.67% year-on-year[7]. - Total revenue for the first three quarters of 2022 was RMB 2,508,319,864.50, a decrease of 11.3% compared to RMB 2,826,969,089.77 in the same period of 2021[40]. - The company reported a net profit of RMB 96,313,806.43 for the first three quarters, down from RMB 205,684,753.84 in the same period last year, a decline of 53.3%[40]. - The net profit for the current period is CNY 312,424,451.38, a decrease from CNY 333,187,537.31 in the previous period, representing a decline of approximately 2.3%[46]. - The total profit for the current period is CNY 388,350,050.18, down from CNY 429,031,006.97, indicating a decrease of about 9.5%[46]. - The operating profit for the current period is CNY 438,338,267.78, compared to CNY 474,347,511.24 in the previous period, reflecting a decline of approximately 7.6%[46]. - The total comprehensive income for the current period is CNY 330,546,048.88, slightly down from CNY 339,874,040.87 in the previous period, indicating a decrease of approximately 2.4%[46]. - The basic earnings per share for the current period is CNY 0.10, down from CNY 0.12 in the previous period, representing a decline of 16.7%[46]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was CNY 1,078,251,990.43, reflecting a 22.21% increase compared to the same period last year[7]. - Cash and cash equivalents increased to RMB 14,810,828,418.75, compared to RMB 11,760,391,654.21, marking a growth of 26.0%[33]. - The cash flow from operating activities for the current period is CNY 1,078,251,990.43, an increase from CNY 882,287,984.11 in the previous period, showing a growth of about 22.2%[50]. - The cash and cash equivalents at the end of the period amount to CNY 4,456,303,210.09, an increase from CNY 3,649,718,268.33 in the previous period, reflecting a growth of about 22.1%[51]. - As of September 30, 2022, the company's cash and cash equivalents amounted to RMB 6,330,017,727.80, an increase from RMB 4,327,247,622.72 at the end of 2021[28]. - Total assets at the end of the reporting period were CNY 36,217,938,203.65, an increase of 20.02% compared to the end of the previous year[7]. - The company's total assets reached RMB 36,217,938,203.65, an increase of 20.5% from RMB 30,175,982,285.10 in the previous year[38]. - The total non-current assets increased to RMB 21,407,109,784.90, up from RMB 18,415,590,630.89, representing a growth of 10.8%[38]. Liabilities and Equity - Total liabilities amounted to RMB 23,664,375,325.89, which is a 33.9% increase from RMB 17,681,184,547.42[36]. - The equity attributable to shareholders of the parent company was RMB 12,440,172,596.09, slightly up from RMB 12,396,539,102.30, indicating a marginal increase of 0.4%[36]. - The company's equity attributable to shareholders was CNY 12,440,172,596.09, showing a slight increase of 0.35% year-on-year[7]. - Short-term borrowings rose significantly to RMB 1,492,709,144.86 from RMB 729,041,687.55, reflecting a 104.0% increase[36]. Project Updates and Future Plans - The company completed a merger with Cordillera Solar I S.A. in June 2022, leading to adjustments in comparative financial data[7]. - The company is adjusting the expected operational status date for the 1GW photovoltaic project in Shihezi to June 2023 due to land use classification issues[24]. - The company is facing delays in several projects due to local land use issues and pandemic-related restrictions[26]. - The company has completed the construction and grid connection of the Tongling project, while other projects are still in progress[26]. - The company plans to issue non-public A-shares to raise up to RMB 299,690,000.00, pending approval from the China Securities Regulatory Commission[22]. - The company has received feedback from the China Securities Regulatory Commission regarding its non-public issuance application, which is still under review[22]. - The company has completed the issuance of the first phase of USD 100 million senior unsecured green bonds for photovoltaic projects[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 142,847[15]. - The company has a total of 28,909,219 shares held in a repurchase account, representing 1.00% of the total share capital[21]. Expenses and Costs - Total operating costs for the first three quarters of 2022 were RMB 2,225,375,312.68, down from RMB 2,664,106,393.98, reflecting a reduction of 16.4%[40]. - Research and development expenses increased to RMB 7,519,295.49, up from RMB 3,898,318.36, representing a growth of 92.5% year-over-year[40]. - The company reported a decrease in credit impairment losses of CNY 20,175,716.75 compared to CNY 7,733,502.47 in the previous period, indicating a worsening in credit quality[46]. - The company generated CNY 2,213,207,014.63 from sales of goods and services, which is slightly lower than CNY 2,217,709,541.54 in the previous period, showing a decrease of about 0.2%[47].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,515,713,910.57, a decrease of 16.82% compared to ¥1,822,128,599.03 in the same period last year[20] - The net profit attributable to shareholders of the listed company was ¥100,942,509.13, down 33.96% from ¥152,857,987.08 in the previous year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥73,400,017.09, a decrease of 28.98% compared to ¥103,347,329.74 in the same period last year[20] - Basic earnings per share decreased by 50.00% to ¥0.03 from ¥0.06 in the same period last year[22] - The weighted average return on equity decreased by 0.56 percentage points to 0.81% compared to 1.37% in the previous year[22] - The company reported a decrease in net profit attributable to shareholders due to increased sales expenses and reduced government subsidies[23] - The company's operating revenue for the period was approximately ¥1.52 billion, a decrease of 16.82% compared to the same period last year[54] - The company's operating costs decreased by 26.45% to approximately ¥780 million, contributing to improved gross margins[54] - Financial expenses decreased by approximately 14.90% to ¥413.68 million, reflecting a reduction in the cost of new financing[55] - The net cash flow from operating activities increased by 76.78% to approximately ¥770 million, primarily due to the receipt of VAT refunds[55] Asset and Liabilities - The total assets grew by 15.48% to ¥34,847,720,169.06 from ¥30,175,982,285.10 at the end of the previous year[22] - The company's total assets at the end of the reporting period included ¥712.17 million in cash, a 64.58% increase year-on-year[56] - The asset-liability ratio at the end of the reporting period was 64.40%, indicating a slight increase from the beginning of the period[56] - The company reported a significant increase in short-term borrowings by 166.48% to approximately ¥194.27 million, reflecting new financing activities[58] - The company has a high balance of receivables related to government subsidies, which could impact cash flow if delays in payments continue[71] - The company has a strong debt repayment capability, ensuring sufficient funds for the repayment of convertible bonds[195] Industry and Market Trends - The photovoltaic industry saw a 119% year-on-year increase in newly installed capacity, reaching 30.87 million kilowatts by June 2022[32] - The distributed photovoltaic segment experienced a 125% increase in newly installed capacity, accounting for about two-thirds of the new installations[32] - The average utilization rate of photovoltaic power generation was approximately 97%, with a total generation of about 205 billion kilowatt-hours, a 30% increase year-on-year[32] - The company is expanding into emerging business opportunities such as energy storage projects and photovoltaic building integration (BIPV)[31] - The company is experiencing increased competition in the solar energy market, especially with the influx of capital from non-energy sectors[69] Project Development and Operations - The company has accumulated over 3 GW of photovoltaic power station engineering experience, providing comprehensive solutions including planning, financing, and operation management[36] - The company operates photovoltaic power stations across more than 20 provinces in China, with a focus on regions with strong economic foundations and high electricity demand[39] - The company has successfully partnered with global energy giants, securing contracts for large-scale photovoltaic projects totaling 2,100 MW in Abu Dhabi and 300 MW in Saudi Arabia[40] - The company completed a total power generation of 1.879 billion kWh in the first half of 2022, representing a year-on-year increase of approximately 10%[41] - The company signed distributed photovoltaic energy management cooperation agreements with several well-known enterprises, including Foxconn, and multiple projects have been successfully launched and connected to the grid[47] Environmental and Social Responsibility - The company produced 1.879 billion kWh of green electricity, reducing carbon dioxide emissions by 1.5558 million tons[86] - The company actively engaged in poverty alleviation through the operation of two poverty-relief photovoltaic power stations[87] - The company has a commitment to provide free operation and maintenance services until 2028 for the 2.38MW poverty alleviation power stations in Wangjiang[89] - The company implemented strict dust and noise reduction measures during the construction of photovoltaic power stations, complying with national environmental policies[86] Governance and Compliance - The company has a share lock-up period for major shareholders, which lasts until May 18, 2023, ensuring stability in shareholding[92] - The company has established a commitment to avoid any business activities that may directly or indirectly compete with its main business operations[96] - The company has committed to reducing related party transactions to the minimum necessary for operations[104] - The company has pledged to adhere to the stock price stabilization plan approved by the shareholders' meeting, which includes obligations to repurchase shares if necessary[106] - The company has committed to timely and full disclosure of any unfulfilled commitments, accepting supervision from social and regulatory bodies[130] Financing and Investment - The company issued ¥500 million in green corporate bonds during the reporting period, diversifying its financing channels[51] - The company has made progress in applying for the issuance of offshore US dollar bonds, indicating a strategic move towards international financing[51] - The company plans to invest in 7 rooftop distributed photovoltaic power station projects and 1 energy storage project, prioritizing electricity sales to Jinko Energy and its subsidiaries[137] - The company has issued corporate bonds with a total balance of 6.00 billion RMB, with an interest rate of 4.19% for the first phase bond maturing on April 10, 2022[175] Shareholder and Equity Management - The company completed a share buyback of 28,909,219 shares, representing 1.00% of the total share capital, at an average price of RMB 6.89 per share, totaling RMB 199.05 million[158] - The total number of shares increased to 2,894,347,519 after a conversion of RMB 703.51 million of convertible bonds, resulting in an additional 128,845,597 shares issued[163] - The company plans to distribute a cash dividend of CNY 0.1256 per share, based on a total share capital of 10 shares[194] - The company has reported a decrease in holdings by several major shareholders, including a reduction of 28,941,400 shares by a state-owned entity[165]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 361,013,902.42 for the year 2021, with a distributable profit of RMB 159,217,613.19 at the end of the year [6]. - The company's operating revenue for 2021 was approximately ¥3.67 billion, an increase of 2.44% compared to ¥3.59 billion in 2020 [24]. - The net profit attributable to shareholders for 2021 was approximately ¥361 million, a decrease of 24.13% from ¥476 million in 2020 [24]. - The net cash flow from operating activities decreased by 49.52% to approximately ¥1.36 billion in 2021 from ¥2.70 billion in 2020 [24]. - The total assets at the end of 2021 were approximately ¥29.48 billion, a slight increase of 0.60% from ¥29.31 billion at the end of 2020 [24]. - The company's net assets attributable to shareholders increased by 11.18% to approximately ¥12.31 billion at the end of 2021 from ¥11.07 billion at the end of 2020 [24]. - Basic earnings per share for 2021 were ¥0.13, down 31.58% from ¥0.19 in 2020 [24]. - The weighted average return on equity for 2021 was 3.13%, a decrease of 1.69 percentage points from 4.82% in 2020 [24]. Dividends and Share Capital - The proposed cash dividend is RMB 0.1254 per 10 shares (including tax), amounting to an estimated total cash dividend of RMB 36,105,712.62 [6]. - The total share capital as of March 31, 2022, was 2,894,325,731 shares, after deducting 15,082,300 shares repurchased by the company [6]. Corporate Governance - The company’s financial report has been audited by Tianjian Accounting Firm, which issued a standard unqualified audit opinion [5]. - The company’s board of directors and supervisory board members have all attended the board meeting, ensuring accountability for the report's accuracy [5]. - The company has not faced any situations where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report [8]. - The company held a total of 5 shareholder meetings during the reporting period, including 1 annual meeting and 4 extraordinary meetings [138]. - The board of directors convened 14 meetings during the reporting period, ensuring compliance with legal and regulatory requirements [133]. - The company strictly adhered to information disclosure regulations, ensuring all shareholders had equal access to information [133]. - The company has committed to transparency in its operations, ensuring timely and accurate disclosures in accordance with regulations [133]. Operational Highlights - The company faced challenges in 2021 due to rising supply chain costs and intensified market competition, but it improved asset structure and cash flow [34]. - The company held a photovoltaic power station equity installed capacity of approximately 2.85GW by the end of 2021, with 2.02GW from centralized stations and 0.83GW from distributed stations [37]. - The company achieved a total power generation of 3.43 billion kWh and reported operating revenue of 3.675 billion yuan, a year-on-year increase of 2.44%, while net profit attributable to the parent company was 361 million yuan, a year-on-year decrease of 24.13% [37]. - The company secured approximately 3.6GW of photovoltaic project indicators across various provinces, ranking first among private enterprises in Jiangxi, Guangxi, and Gansu provinces [37]. - The company expanded its operation and maintenance (O&M) scale to 5.28GW, with external O&M scale increasing by 39% to 2.36GW, and O&M revenue grew by 53.23% to 84.88 million yuan [39]. Research and Development - The total amount of research and development investment was 6.86 million yuan, accounting for 0.19% of operating revenue [77]. - The company had 38 R&D personnel, representing 2.93% of the total workforce, with 3 holding master's degrees and 27 holding bachelor's degrees [78]. - Research and development expenses for 2021 totaled 6.86 million yuan, reflecting a 34.80% increase year-over-year, mainly due to increased employee compensation following social security reductions in the previous year [76]. Strategic Initiatives - The company plans to expand its market presence and enhance its technology in the solar energy sector, focusing on new product development and strategic partnerships [90]. - The company is actively exploring opportunities for mergers and acquisitions to strengthen its competitive position in the industry [90]. - The company is developing a 300MW solar power project in Gansu with a total investment of approximately RMB 1.641 billion, expected to take about 6 months to complete [106]. - The company has signed a strategic investment agreement to jointly develop a 2GW solar power project in Fengcheng, Jiangxi, with a total investment estimated at RMB 8.8 billion [101]. Market Trends and Challenges - The fluctuation in supply chain prices has posed challenges for PV companies, impacting the expected new installed capacity [48]. - Increased market competition is anticipated during the 14th Five-Year Plan period, with more capital entering the photovoltaic sector, intensifying competition for quality resources [125]. - The company faces risks from macroeconomic fluctuations and policy adjustments, which could impact profitability due to the close relationship with national policies [125]. Employee and Management - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 14.9599 million yuan [174]. - The company has implemented a comprehensive employee welfare program, including health insurance and various subsidies [199]. - The company has established a dual-channel four-level job grade system to enhance employee development and retention [199]. Financial Position - The company’s cash and cash equivalents at the end of the period were 4.149 billion yuan, which is 14.07% of total assets, reflecting a 70.42% increase from the previous year [83]. - The company reported a significant increase in accounts receivable, which rose by 345.86% to 132.77 million yuan, indicating improved collection from EPC and grid projects [83]. - The company’s total liabilities included 214.30 million yuan in bonds payable, a 250.67% increase due to the issuance of new bonds in March and April 2021 [86].

Financial Performance - The company's operating revenue for Q1 2022 was ¥573,185,557.71, representing a decrease of 18.81% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥59,848,068.61, with a basic earnings per share of -¥0.02[6]. - Total revenue for Q1 2022 was 573,185,557.71 RMB, down from 705,978,867.52 RMB in Q1 2021, representing a decrease of approximately 18.7%[33]. - The company's net profit attributable to shareholders decreased to 2,847,411,961.99 RMB in Q1 2022 from 2,907,260,030.60 RMB in Q1 2021, a decline of about 2.2%[35]. - The net profit for the first quarter of 2022 was -55,747,594.07 RMB, compared to -108,698,080.29 RMB in the same period of 2021, showing an improvement of approximately 48.7%[38]. - The total comprehensive income for the first quarter was -40,993,641.37 RMB, compared to -106,117,444.10 RMB in the same quarter of the previous year, reflecting an improvement of about 61.4%[40]. - Basic earnings per share for the first quarter were -0.02 RMB, an improvement from -0.04 RMB in the same quarter of 2021[40]. Assets and Liabilities - The total assets at the end of the reporting period were ¥30,634,583,863.98, an increase of 3.90% from the end of the previous year[9]. - Total assets rose to 30,634,583,863.98 RMB in Q1 2022, up from 29,484,082,545.91 RMB in Q1 2021, an increase of about 3.9%[35]. - Total liabilities increased to 18,334,931,252.01 RMB in Q1 2022, compared to 17,078,245,572.15 RMB in Q1 2021, reflecting a growth of approximately 7.3%[35]. - The total equity attributable to shareholders decreased by 0.90% to ¥12,196,847,188.78[9]. Cash Flow - The cash flow from operating activities was -¥66,402,598.55, indicating a decline in cash generation capabilities[6]. - The company reported a net cash outflow from operating activities of -66,402,598.55 RMB, worsening from -25,597,724.79 RMB in the previous year[43]. - Cash and cash equivalents at the end of the period increased to 4,345,104,120.76 RMB, up from 1,820,297,864.41 RMB, indicating a significant increase of approximately 139.5%[45]. - Cash inflows from financing activities amounted to 2,695,275,553.90 RMB, compared to 1,619,931,727.99 RMB in the previous year, marking an increase of approximately 66.3%[45]. - The company incurred total financing cash outflows of 1,695,813,203.58 RMB, up from 1,320,008,412.53 RMB in the same period last year[45]. - The company reported a significant increase in cash received from borrowings, totaling 1,783,566,286.02 RMB, compared to 1,159,592,000.00 RMB in the previous year, reflecting a growth of approximately 53.7%[45]. Research and Development - Research and development expenses increased by 88.39%, reflecting the company's commitment to innovation[12]. - Research and development expenses for Q1 2022 were 1,946,339.04 RMB, up from 1,033,162.02 RMB in Q1 2021, indicating an increase of about 88.4%[33]. Market and Strategic Initiatives - The company plans to expand its market presence and enhance its product offerings in the renewable energy sector[12]. - The company has successfully secured a contract for a 300MW photovoltaic power generation project in Saudi Arabia, with a total investment of approximately USD 209 million[24]. - The company is actively seeking partnerships for investment in the Saudi project, which is part of the country's third round of renewable energy initiatives[24]. - The company’s financial performance indicates a robust growth trajectory, supported by strategic investments and market expansion efforts[22]. Shareholder Information - The top ten shareholders include major investment firms, with the largest being Bihua Venture Capital Co., Ltd., holding 241,592,600 shares[21]. - The company has a share buyback account holding 15,082,300 shares, representing 0.52% of the total share capital[21]. Management Changes - The company is undergoing management changes, with the resignation of key executives, but operations are expected to continue smoothly[24].

2021 年第三季度报告 证券代码：601778 证券简称：晶科科技 晶科电力科技股份有限公司 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 reported a significant increase in net profit attributable to shareholders compared to the previous year, with a growth rate of 10%[6]. - The company's operating revenue for the first half of the year was RMB 1,780,540,210.51, an increase of 2.62% compared to RMB 1,735,044,812.02 in the same period last year[22]. - The net profit attributable to shareholders decreased by 21.55% to RMB 170,299,943.74 from RMB 217,078,799.81 year-on-year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 43.65% to RMB 103,347,329.74 compared to RMB 183,414,835.55 in the previous year[22]. - The company achieved a net profit attributable to the parent company of 170 million yuan in the first half of 2021, a year-on-year decrease of 21.55% due to declining gross profits from power generation business[42]. - The company reported a basic earnings per share of RMB 0.06, down 40% from RMB 0.10 in the same period last year[24]. Cash Flow and Assets - The company's cash flow from operating activities increased by 12.36% to RMB 392,793,938.23 from RMB 349,577,263.25 year-on-year[22]. - The total assets at the end of the reporting period were RMB 32,138,165,178.95, reflecting a 9.66% increase from RMB 29,306,833,414.46 at the end of the previous year[22]. - The company’s total assets included CNY 5.42 billion in cash, representing 16.88% of total assets, a 122.74% increase from the previous year[51]. - The total current assets as of June 30, 2021, amounted to approximately RMB 13.66 billion, an increase from RMB 10.36 billion as of December 31, 2020, reflecting a growth of about 31.1%[194]. - The cash and cash equivalents increased to approximately RMB 5.42 billion from RMB 2.43 billion, representing a significant growth of approximately 122.5%[194]. Shareholder Information - The total share capital of the company was 2,765,501,922 shares[6]. - The total number of shareholders at the end of the reporting period was 97,125[167]. - The largest shareholder, Jinko Solar Group Co., Ltd., held 853,400,000 shares, representing 30.86% of the total shares[167]. - The total number of shares held by the top ten shareholders was 1,500,000,000, which is approximately 54.3% of the total shares[167]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 0.1721 RMB per 10 shares, totaling approximately 47.59 million RMB, which represents 27.95% of the net profit attributable to shareholders for the first half of 2021[6]. - The company has committed to maintaining the total distribution amount unchanged even if the total share capital changes[6]. Operational Highlights - The company operated a total of 401 photovoltaic power stations with a total operation scale of nearly 5GW as of June 30, 2021[29]. - The company completed a contract signing scale of approximately 228.90MW in its EPC business during the first half of 2021[29]. - The company has approximately 1,257.13MW of domestic photovoltaic power stations under construction and about 2,302MW overseas, including equity projects[38]. - The company has developed a comprehensive O2O operation and maintenance management service platform, significantly improving operational efficiency through advanced technologies such as drone inspections and infrared detection[37]. Risks and Challenges - The company is facing risks from macroeconomic fluctuations and policy adjustments, which could impact profitability due to the close relationship with national policies and economic conditions[66]. - The company is experiencing intensified market competition, particularly during the "14th Five-Year Plan" period, with increased capital inflow into the renewable energy sector[66]. - The company is monitoring raw material price fluctuations, particularly for photovoltaic components, which significantly affect project costs and revenues[67]. - The company has a high balance of subsidy receivables due to the gradual expansion of national photovoltaic electricity subsidies, which poses cash flow pressure if delays continue[67]. Compliance and Governance - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[8]. - There are no violations of decision-making procedures regarding external guarantees[8]. - The company has not encountered any risks that would prevent a majority of directors from ensuring the accuracy and completeness of the semi-annual report[8]. - The company committed to strictly adhere to the regulations regarding stock reduction after the lock-up period, ensuring compliance with the China Securities Regulatory Commission and Shanghai Stock Exchange guidelines[99]. Project Developments - The company has formed partnerships with global energy giants, successfully bidding for large overseas photovoltaic projects totaling 2,100MW in Abu Dhabi, 182.5MW in Spain, and 109MW in Jordan[40]. - The company signed an investment contract with Huaneng Jiangxi to jointly establish a foreign-invested company for a 2GW photovoltaic power station project in Jiangxi Province, with an estimated total investment of approximately 8.8 billion yuan[155]. - The project is expected to generate approximately 2 billion kWh of electricity annually, yielding an estimated annual revenue of about 828 million yuan[155]. Guarantees and Liabilities - The total amount of guarantees provided by the company (excluding subsidiaries) during the reporting period was 100,578.28 million RMB[143]. - The total balance of guarantees at the end of the reporting period (excluding subsidiaries) was 218,744.93 million RMB[146]. - The company has a joint liability guarantee of 44,561.42 million RMB for Poyang County Luohong Electric Co., Ltd., with a guarantee period from March 29, 2019, to January 15, 2023[143]. Future Plans - The company aims to explore new business areas such as energy storage and photovoltaic building integration (BIPV) to leverage its experience in the photovoltaic power sector[29]. - The company plans to continue tracking national macro policies and industry trends to enhance decision-making capabilities in response to economic changes[66].

Financial Performance - Net profit attributable to shareholders was -¥110,902,890.54, a significant decline from -¥24,302,848.39 in the same period last year[12] - Operating revenue for the period was ¥705,978,867.52, a slight decrease of 0.24% year-on-year[12] - The company experienced a decrease in net profit attributable to shareholders after deducting non-recurring gains and losses, which was -¥57,227,210.46 compared to -¥30,845,338.07 in the previous year[12] - Basic earnings per share were -¥0.04, down from -¥0.01 in the same period last year[12] - Net profit for Q1 2021 was a loss of ¥108,698,080.29, compared to a loss of ¥22,950,728.53 in Q1 2020, indicating a significant increase in losses[46] - The company's operating profit for Q1 2021 was a loss of ¥88,851,543.11, worsening from a loss of ¥16,309,101.90 in Q1 2020[46] - The company reported a total comprehensive loss of ¥106,117,444.10 for Q1 2021, compared to a loss of ¥21,502,001.59 in Q1 2020[46] - The company's investment income for Q1 2021 was a loss of ¥37,579,632.18, contrasting with a gain of ¥10,464,250.76 in Q1 2020[43] - The net loss for Q1 2021 was ¥25,542,412.75, compared to a net loss of ¥3,017,497 in Q1 2020, indicating a significant decline in profitability[50] - The total comprehensive loss for Q1 2021 was ¥25,542,412.75, which is the same as the net loss, indicating no other comprehensive income during the period[50] Cash Flow - Net cash flow from operating activities was -¥25,597,724.79, a drastic change from ¥25,328,267.08 in the previous year, reflecting a decrease of 201.06%[12] - The company reported a net cash flow from operating activities of -CNY 25,597,724.79, a decrease of 201.06% compared to the previous year[21] - The net cash flow from operating activities for Q1 2021 was ¥48,826,736.38, a significant improvement compared to a net outflow of ¥206,638,751.50 in Q1 2020[58] - Total cash inflow from operating activities reached ¥587,872,696.72, up from ¥257,561,855.82 in the same period last year[58] - Cash outflow for purchasing goods and services was ¥428,687,741.25, compared to ¥369,057,862.71 in Q1 2020, indicating increased operational costs[58] - The company reported a net cash outflow from operating activities of ¥25,597,724.79 in Q1 2021, compared to a net inflow of ¥25,328,267.08 in Q1 2020[54] Assets and Liabilities - Total assets at the end of the reporting period reached ¥29,721,979,990.16, an increase of 1.42% compared to the end of the previous year[12] - Total liabilities rose to ¥18,774,099,020.22, up from ¥18,154,435,146.76, reflecting an increase of around 3.41%[32] - Current liabilities decreased to ¥7,890,884,764.71 from ¥8,234,080,073.09, a reduction of approximately 4.17%[32] - Non-current assets totaled ¥19,238,793,741.77, compared to ¥18,945,118,939.02, indicating an increase of about 1.54%[32] - Total liabilities increased to ¥8,519,365,366.24 in Q1 2021 from ¥8,259,673,156.11 in Q1 2020, reflecting a growth of 3.1%[43] - Total equity decreased to ¥8,583,044,484.45 in Q1 2021 from ¥8,608,741,769.94 in Q1 2020, a decline of 0.3%[43] Shareholder Information - The number of shareholders at the end of the reporting period was 97,858[15] - The largest shareholder, Jinko Solar Group Co., Ltd., held 30.86% of the shares, amounting to 853,400,000 shares[15] Investment Activities - The company plans to issue up to CNY 3 billion in convertible bonds to fund five photovoltaic power station projects totaling 584.3MW[22] - A joint investment project for a 2GW photovoltaic power station in Jiangxi Province is expected to generate approximately CNY 8.28 billion in annual revenue[22] - The company is participating in a bidding process for an 835MW photovoltaic power station project in Uzbekistan[22] - The total investment for the Jiangxi photovoltaic project is estimated at CNY 8.8 billion, to be constructed in four phases[22] Financial Position - The company maintained a stable financial position with no significant changes in equity instruments[73] - The company did not apply the new leasing standards for retrospective adjustments[75] - There were no applicable audit reports for the current period[75]

Financial Performance - In 2020, the company achieved a total revenue of RMB 3,587,511,363.92, representing a decrease of 32.88% compared to RMB 5,344,853,796.36 in 2019[25] - The net profit attributable to shareholders of the listed company for 2020 was RMB 475,805,190.12, down 34.20% from RMB 723,067,461.69 in 2019[25] - The net profit attributable to shareholders was CNY 415,323,235.04, a decrease of 48.00% compared to the previous year[28] - The company achieved operating revenue of 3.588 billion RMB in 2020, a year-on-year decrease of 32.88%, with net profit attributable to the parent company at 476 million RMB, down 34.20%[53] - The company reported a net profit of RMB 62.01 billion, reflecting a growth of 23.6% year-over-year[98] Profit Distribution and Dividends - The company plans to postpone profit distribution for the 2020 fiscal year due to ongoing efforts to issue convertible bonds[7] - The company did not propose a cash dividend for the 2020 fiscal year due to ongoing plans for issuing convertible bonds, prioritizing shareholder interests and company development[128] - The company reported a net profit attributable to ordinary shareholders of approximately ¥475.81 million for the 2020 fiscal year, with a dividend payout ratio of 0%[129] Assets and Liabilities - As of the end of 2020, the company's distributable profits amounted to RMB 267,941,136.66[7] - The total assets at the end of 2020 were CNY 29,306,833,414.46, a decrease of 1.32% from CNY 29,698,573,331.63 in 2019[28] - The company’s asset-liability ratio was 62% at the end of 2020, a decrease of 10 percentage points compared to the end of 2019[62] - The total amount of guarantees at the end of the reporting period (excluding subsidiaries) was RMB 275.25 million, representing 137.49% of the company's net assets[199] - The company has a total guarantee amount of RMB 1.52 billion, which exceeds 50% of its net assets[199] Cash Flow - The net cash flow from operating activities increased by 122.50% to CNY 2,703,732,783.83 from CNY 1,215,142,825.19 in 2019[28] - The net cash flow from operating activities for 2020 was CNY 2.704 billion, an increase of 122.50% compared to the previous year, primarily due to a reduction in EPC procurement and lower VAT payments[83] - The net cash flow from investing activities for 2020 was CNY -1.861 billion, reflecting significant investments in photovoltaic power station construction and large expenditures on fixed and long-term assets[83] - The net cash flow from financing activities for 2020 was CNY 0.223 billion, a decrease of 53.54% year-on-year, mainly due to ongoing repayments of maturing debts[83] Operational Highlights - JinkoSolar completed domestic project development of approximately 2.25GW and overseas project development of approximately 2.50GW in 2020[37] - The company held a total installed capacity of approximately 3.08GW across 337 solar power plants by the end of 2020, generating a total power output of 3.4 billion kWh[37] - The company has approximately 1.85GW of domestic solar power plants under construction and about 2.90GW overseas, including equity projects[48] - The company completed a domestic project development scale of approximately 2.25 GW in 2020, representing a year-on-year increase of 43%[57] - The company’s operation and maintenance (O&M) business revenue increased by approximately 277% year-on-year, with over 350 O&M stations and a total scale of nearly 5 GW by the end of 2020[57] Market and Industry Trends - The global photovoltaic market is expected to accelerate, with China's new installed capacity projected to reach 55-65GW in 2021, and an average annual new installed capacity of 70-90GW during the 14th Five-Year Plan[111] - The cost of photovoltaic power generation is anticipated to decline further, driven by technology innovation and the maturity of energy storage technology, making photovoltaic power increasingly competitive[112] - Distributed photovoltaic systems are expected to see significant growth opportunities, with their market share increasing from 14% to 32% during the 13th Five-Year Plan[117] Strategic Partnerships and Collaborations - The company signed strategic cooperation agreements with major energy companies, including BP and Air Products, focusing on renewable energy projects[63] - The company has established strategic cooperation with several state-owned commercial banks, with a total new bank credit limit of nearly 4 billion RMB during the reporting period[59] - The company is committed to collaborating with domestic and international partners to enhance project development and operational maintenance capabilities[122] Compliance and Governance - The company has committed to timely and accurate information disclosure regarding any shareholding reductions[143] - The company will ensure that any loans or financial activities comply with relevant laws and regulations to avoid penalties[149] - The company has established a plan to ensure compliance with relevant laws and regulations regarding share transfers and reductions[140] Shareholder Commitments - Jinko Group committed not to transfer or entrust the management of its shares for 36 months from the date of the company's stock listing, with an automatic extension of 6 months if the stock price falls below the issue price for 20 consecutive trading days within the first 6 months[135] - The company has committed to fulfilling its obligations under the stock price stabilization plan approved by the shareholders' meeting[148] - The actual controller of the company has pledged to bear all economic responsibilities for any penalties or liabilities incurred due to non-compliance with laws and regulations[149] Project Development and Future Plans - The company aims to enhance its project resource reserves and develop distributed photovoltaic power stations, focusing on stable investment returns for shareholders[119] - In 2021, the company plans to prioritize project development, improve project conversion rates, and expand its distributed business and operation maintenance services[122] - The company will continue to optimize its asset structure, increasing the proportion of grid-parity projects and enhancing the revenue quality of its self-owned power stations[122]

Financial Performance - Revenue for the first nine months was ¥2,627,147,581.17, a decrease of 23.57% year-on-year[18]. - Net profit attributable to shareholders of the listed company was ¥401,816,236.19, down 19.30% from the previous year[18]. - The company reported a net profit excluding non-recurring gains and losses of ¥368,989,687.03, a decrease of 34.23% year-on-year[18]. - Basic earnings per share for the period was ¥0.17, a decline of 26.09% compared to the same period last year[21]. - In Q3 2020, the company's net profit was approximately ¥185.85 million, a decrease of 29.7% compared to ¥263.94 million in Q3 2019[57]. - The total profit for Q3 2020 was ¥211.02 million, down 26.6% from ¥287.59 million in Q3 2019[57]. - The company's operating income for Q3 2020 was ¥297.40 million, a decline of 32.5% from ¥440.75 million in Q3 2019[62]. - The total comprehensive income for Q3 2020 was ¥182.25 million, a decrease of 31.3% from ¥265.82 million in Q3 2019[64]. - For the first three quarters of 2020, the net profit reached 63,827,561.58 RMB, compared to a net loss of 62,067,672.41 RMB in the same period of 2019[68]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥30,649,718,744.35, an increase of 3.49% compared to the end of the previous year[18]. - Total liabilities decreased to CNY 19.57 billion from CNY 21.29 billion, a reduction of 8.09%[42]. - Total equity increased to CNY 11.08 billion from CNY 8.33 billion, reflecting a growth of 33.38%[44]. - The total liabilities to equity ratio improved to approximately 1.02 as of September 30, 2020, compared to 1.38 at the end of 2019, indicating a stronger financial position[49]. - The company's total equity (or shareholders' equity) remained stable at approximately $6.21 billion[95]. Cash Flow - Operating cash flow for the period from January to September was ¥1,271,195,974.48, representing a substantial increase of 94.90% compared to the same period last year[18]. - Net cash flow from operating activities increased by 94.90% to CNY 1,271,195,974.48 from CNY 652,236,114.69, attributed to lower procurement payments and VAT compared to the previous year[31]. - Cash flow from operating activities for the first three quarters of 2020 was 3,378,636,327.08 RMB, a decrease of 11.29% from 3,809,208,387.00 RMB in the same period of 2019[75]. - Cash inflow from financing activities amounted to ¥4,195,542,388.29, a notable increase from ¥801,000,000.00 in the first three quarters of 2019[79]. - The net cash flow from financing activities was ¥3,505,415,913.94, a turnaround from a net outflow of ¥477,921,642.67 in the same period of 2019[79]. Shareholder Information - The top ten shareholders held a total of 1,800,000,000 shares, with the largest shareholder, Jinko Solar Group Co., Ltd., holding 30.86%[22]. - Owner's equity reached ¥8,615,124,287.13, a significant increase from ¥6,209,208,286.52, marking a growth of around 38.7%[49]. Inventory and Receivables - Accounts receivable decreased by 37.87% to CNY 3,916,761,485.05 from CNY 6,304,373,282.26, primarily due to reclassification of amounts not yet collectible to contract assets[28]. - Inventory increased by 169.15% to CNY 104,295,853.70 from CNY 38,749,508.25, reflecting investment costs in projects held for sale[28]. - Accounts receivable decreased to CNY 2.98 billion from CNY 4.28 billion, a decline of 30.19%[44]. Investment and Financing Activities - The company plans to issue convertible bonds to raise up to CNY 3 billion for various solar power projects and debt repayment[30]. - The company received cash from investments totaling ¥3,261,280,494.05, reflecting a strategic focus on enhancing investment returns[79]. - Investment income rose significantly to CNY 88,292,781.45 from a loss of CNY 3,398,137.53, driven by increased returns from long-term equity investments[31]. Operational Efficiency - Operating costs decreased by 30.80% to CNY 1,351,873,701.58 from CNY 1,953,479,797.54, mainly due to a decline in completed EPC output[31]. - The company intends to temporarily use up to CNY 600 million of idle fundraising for working capital to enhance operational efficiency[30]. Changes in Accounting Standards - The company has implemented new revenue and leasing standards starting from 2020, which may impact future financial reporting and performance metrics[81]. - The company did not apply new revenue and leasing standards for the reporting period[95].

股票简称：晶科科技 股票代码：601778 晶科电力科技股份有限公司投资者关系活动记录表 编号：2020-01 | --- | --- | --- | --- | |---------------------|---------------------------|------------------------------|-------| | | | | | | | | | | | 投资者关系 活动类别 | □ 特定对象调研 □ 媒体采访 | □ 分析师会议 ■ 业绩发布会 | | | | □ 新闻发布会 | □ 路演活动 | | | | □ 现场参观 | □ 其他 | | | 参与单位名称及 | 上投摩根基金 | 王炫 | | | 人员姓名 | 东北证券 顾一弘 | | | | | 天弘基金 唐博 | | | | | 国泰君安 庞钧文 | | | | | 申万宏源 | 颜定功、陈明雨 | | | | 国信证券 李恒源 | | | | | 东吴证券 | 康诗韵、黄玉豪 | | | | 中信建投 张帅 | | | | | 中信证券 卢华权 | | | | | 国金证券 姚遥 | | | | | 华夏基金 顾 ...