Financial Performance - The company achieved a net profit attributable to shareholders of RMB 1,010.16 million for the year 2021, with cumulative undistributed profits reaching RMB 867.14 million by the end of 2021[3]. - A cash dividend of RMB 6 per 10 shares (including tax) is proposed, amounting to a total distribution of RMB 334.77 million, which represents 33.14% of the net profit attributable to shareholders for 2021[3]. - The company's operating revenue for 2021 was CNY 59.88 billion, a year-on-year increase of 99.18%[19]. - Net profit attributable to shareholders for 2021 reached CNY 1.01 billion, up 100.88% compared to the previous year[19]. - The net cash flow from operating activities increased by 382.50% to CNY 1.95 billion in 2021[19]. - The total assets at the end of 2021 were CNY 12.27 billion, reflecting a growth of 38.81% year-on-year[21]. - Basic earnings per share for 2021 were CNY 2.21, a 100.91% increase from the previous year[21]. - The weighted average return on equity rose by 18.82 percentage points to 50.06% in 2021[21]. - The net assets attributable to shareholders increased by 114.63% year-on-year, reaching CNY 3.82 billion[21]. Corporate Governance - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[5]. - The company has received a standard unqualified audit report from Dahua Certified Public Accountants[3]. - The board of directors and senior management have guaranteed the authenticity, accuracy, and completeness of the annual report[3]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with governance regulations[111]. - The company has established a comprehensive governance structure, including specialized committees for audit, nomination, strategy, compensation, and investor relations[111]. - The company maintains a clear separation from its controlling shareholder in terms of assets, personnel, and financial operations, ensuring independent business capabilities[114]. - The company actively engages with investors through designated channels to ensure timely and equitable information disclosure[114]. - The company has established independent labor, personnel, and financial management systems, ensuring operational independence[116]. - The company has not engaged in any significant related party transactions that could affect its business operations[119]. Market Strategy and Expansion - The company plans to expand its market presence and enhance its product offerings, although specific details on new products and technologies were not disclosed in the provided content[5]. - The company is exploring potential mergers and acquisitions to enhance its market position[126]. - Market expansion strategies include entering new geographic regions and increasing market share in existing areas[131]. - The company plans to transform its coal circulation business towards high-quality development and expand into low-carbon services, including waste disposal and biomass energy[97]. - The company aims to enhance market coal supply capabilities and establish a reliable energy supply service system for customers, aligning with national energy policies[91]. Environmental and Sustainability Initiatives - The company initiated distributed rooftop photovoltaic projects as part of its carbon neutrality action plan for 2021-2025[33]. - The company has been actively developing biomass power generation and sludge incineration power generation to align with national policies and improve energy structure[45]. - The company has implemented energy-saving measures across all thermal power plants, significantly improving efficiency and reducing emissions[186]. - The company has developed a "Smart Environmental Cloud Platform" that utilizes digital technologies to achieve low-carbon intelligent control in power and heat production, with 15 patents authorized, including 9 invention patents[181]. - The company is committed to continuous improvement in pollution control technologies and compliance with environmental regulations[162]. Risk Management - The company has outlined various risk factors that may impact future development, which are detailed in the management discussion and analysis section of the report[5]. - The company anticipates challenges from macroeconomic fluctuations, including "demand contraction, supply shocks, and weakened expectations," which may impact its profitability in the coal circulation and cogeneration industries[104]. - To mitigate risks from policy changes related to green energy transitions, the company will closely monitor regulatory developments and enhance compliance with environmental standards[106]. - The company recognizes the volatility in coal market prices due to complex supply-demand dynamics and energy structure transformations, which could lead to uncertain future profitability[108]. Research and Development - The company has a total of 147 patents, including 11 invention patents, showcasing its strong research capabilities[59]. - The company’s research and development expenses amounted to RMB 110.61 million, reflecting a 20% increase year-on-year[64]. - The company has established research and development centers across its thermal power plants to drive innovation in energy efficiency and pollution reduction[34]. - The company is focusing on the development of new technologies and products to enhance market competitiveness[132]. Employee and Labor Relations - The company has a total of 1,380 employees, including 318 in the parent company and 1,062 in major subsidiaries[142]. - The employee composition includes 891 production staff, 127 sales personnel, 93 technical staff, 53 financial staff, and 216 administrative staff[142]. - The company emphasizes a "people-oriented" management philosophy, focusing on performance-based incentive mechanisms[144]. - The company has established a long-term talent training mechanism to enhance employee skills and support sustainable development[145]. - The company is committed to maintaining harmonious labor relations and protecting employee rights in accordance with national laws[188]. Financial Management - The company’s financial expenses increased by 171.35% due to rising external financing costs[64]. - The company has established a strict internal control management system to ensure compliance and asset security, which has been continuously improved[152]. - The internal control audit report for 2021 received a standard unqualified opinion from the auditing firm, confirming the effectiveness of the internal control system[154]. - The company has implemented a differentiated cash dividend policy based on its development stage and capital expenditure needs, with a minimum cash dividend ratio of 80% for mature companies without major capital expenditures[148]. Community Engagement - The company actively participated in various public welfare activities, including volunteer services and support for children with autism[190]. - The company engaged in targeted poverty alleviation efforts, establishing an oil tea cooperative and developing an oil tea base in Longquan City[191].