Financial Performance - The company's operating revenue for Q1 2021 was ¥364,310,004.65, representing an increase of 11.67% compared to ¥326,247,751.93 in the same period last year[8]. - The net profit attributable to shareholders was -¥14,919,653.35, a 61.08% improvement from -¥38,337,620.74 year-over-year[8]. - The basic earnings per share for the period was -¥0.0110, an improvement of 60.99% from -¥0.0282 in the same period last year[8]. - Net profit improved by 70.81% to a loss of ¥10,610,735.17 from a loss of ¥36,348,992.30, attributed to increased power generation and revenue[20]. - The company's total comprehensive income for the current period was -¥10,555,458.10, compared to -¥36,348,992.30 in the previous period, showing a significant reduction in losses[77]. - The total comprehensive income for the period was -6,476,014.79 CNY, compared to -8,779,382.54 CNY in the previous period, indicating an improvement[92]. Cash Flow - The net cash flow from operating activities increased by 33.95% to ¥298,774,009.35, up from ¥223,045,221.73 in the previous year[8]. - Cash received from sales and services increased by 37.36% to ¥480,769,994.77 from ¥350,002,994.72, driven by higher power generation and increased revenue[20]. - Cash inflows from operating activities amounted to 486,254,395.83 CNY, up from 367,991,390.49 CNY in the previous period, representing a 32.2% increase[92]. - The net cash flow from operating activities was 298,774,009.35 CNY, compared to 223,045,221.73 CNY in the previous period, reflecting a 33.9% increase[94]. - Cash outflows from financing activities reached 954,017,702.82 CNY, compared to 338,865,975.21 CNY in the previous period, indicating a substantial increase[94]. - The net cash flow from financing activities was -954,017,702.82 CNY, contrasting with a positive 160,734,024.79 CNY in the previous period[94]. Assets and Liabilities - The total assets at the end of the reporting period were ¥18,111,943,485.97, a decrease of 4.86% from ¥19,037,088,967.14 at the end of the previous year[8]. - The company's total liabilities decreased from ¥11,542,566,016.97 to ¥10,625,585,298.93, a reduction of about 7.93%[42]. - Current liabilities decreased significantly from ¥1,987,783,916.60 to ¥1,149,953,008.76, a drop of approximately 42.06%[42]. - Long-term borrowings slightly decreased from ¥7,415,070,720.21 to ¥7,346,821,091.05, a decrease of about 0.92%[42]. - The company's total equity attributable to shareholders decreased from ¥6,715,096,017.29 to ¥6,702,622,335.98, a decline of approximately 0.18%[45]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 56,245[13]. - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., held 62.54% of the shares, totaling 850,331,727 shares[13]. Operational Costs - Total operating costs amounted to ¥386,108,848.26, up from ¥379,306,713.06, reflecting a rise of 1.1%[51]. - Cash paid for purchasing goods and services rose by 73.45% to ¥30,903,017.09 from ¥17,816,730.10, mainly due to increased repair and maintenance costs[20]. Government Subsidies - The company received government subsidies amounting to ¥208,975.61, which are closely related to its business operations[8]. Other Financial Metrics - The weighted average return on equity was -0.22%, improving from -0.60% year-over-year[8]. - Financial expenses for the current period were ¥111,138,751.66, down from ¥122,420,184.99, a decrease of 9.9%[54]. - Tax expenses for the current period were ¥6,557,136.19, compared to ¥3,230,547.26 in the previous period, an increase of 103.9%[54].

Financial Performance - The company's operating revenue for 2020 was ¥2,264,927,665.23, a decrease of 0.12% compared to ¥2,267,603,850.39 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥442,098,414.80, representing an increase of 4.64% from ¥422,503,763.72 in 2019[23]. - The net cash flow from operating activities increased by 5.36% to ¥1,613,371,680.82 in 2020, compared to ¥1,531,225,612.47 in 2019[23]. - The company's total assets at the end of 2020 were ¥19,037,088,967.14, reflecting a 0.30% increase from ¥18,980,246,723.88 at the end of 2019[23]. - The company's weighted average return on equity for 2020 was 6.76%, a slight decrease from 6.87% in 2019[23]. - The company's cash and cash equivalents increased by 62.97% compared to the beginning of the year, primarily due to the issuance of ¥1 billion in corporate bonds[35]. - The total revenue for the electricity sector was approximately ¥2.26 billion, showing a slight decrease of 0.12% compared to the previous year[54]. - The major customer, State Grid Gansu Electric Power Company, accounted for 99.79% of total sales, totaling approximately ¥2.25 billion[61]. Dividend Policy - The company reported a cash dividend of 1.3 RMB per 10 shares (including tax) based on the total share capital as of December 31, 2020[6]. - The cash dividend payout ratio for 2020 was 39.98% of the net profit attributable to shareholders[112]. - The cash dividend payout ratio for 2019 was 32.18% of the net profit attributable to shareholders[112]. - The cash dividend payout ratio for 2018 was 30.02% of the net profit attributable to shareholders[112]. - The company plans to maintain a minimum cash dividend proportion of 20% during profit distribution, considering its growth stage and significant capital expenditure[113]. Operational Efficiency and Market Strategy - The company is focused on expanding its market presence and enhancing its operational efficiency through strategic initiatives[6]. - The company is positioned to benefit from the national push for clean energy and the transition to low-carbon energy sources, aligning with government policies aimed at reducing carbon emissions[38]. - The company is actively pursuing market expansion strategies, targeting a 25% increase in market share in the renewable energy sector by 2022[63]. - The company plans to strengthen budget management and strictly control costs to maximize operational efficiency[94]. - The company aims to enhance the efficiency of power generation equipment and improve revenue from auxiliary services in the electricity market[94]. Risk Management - The company emphasized the importance of risk awareness regarding natural factors, monetary policy changes, and market risks in its future outlook[6]. - The company faces risks from natural factors affecting power generation, with strategies in place to optimize resource utilization[98]. - The company has a high asset-liability ratio, making it sensitive to changes in monetary policy and interest rates[98]. Environmental and Social Responsibility - The company has implemented a comprehensive environmental protection strategy, ensuring that all operational power plants meet relevant environmental protection requirements[184]. - The company has established a robust mechanism for ecological flow release and regularly conducts fish stocking to improve water quality and biodiversity[184]. - The company actively fulfilled its social responsibility by investing 1.6359 million yuan in poverty alleviation efforts, helping 29 registered impoverished individuals to escape poverty[179]. - The company has established a long-term commitment to poverty alleviation, with plans to continue supporting previously impoverished households to ensure sustainable development[183]. Investments and Subsidiaries - The total investment amount for the reporting period was ¥718,529,266.62, a 6.24% increase compared to the previous year[73]. - The net profit of the subsidiary Jiudianxia Company increased by 26.03% compared to the previous year, while the net profit of the subsidiary Taohe Company increased by 10.40%[86]. - The net profit of the subsidiary Bailing Company decreased by 22.44% compared to the previous year, while the net profit of Hexi Company decreased by 17.09%[86]. Corporate Governance and Compliance - The financial report highlights the commitment to ensuring the accuracy and completeness of financial disclosures, reinforcing investor confidence[5]. - The company has engaged Da Xin Accounting Firm for auditing, ensuring compliance with financial regulations[22]. - The company has no significant accounting errors that require retrospective restatement during the reporting period[126]. - The company has no major litigation or arbitration matters during the reporting period, with only minor lawsuits involving a total amount of 3.036 million RMB[131][132]. Future Outlook - The company anticipates that by 2030, the total installed capacity of wind and solar power in the country will exceed 1.2 billion kilowatts, with an annual addition of over 70 million kilowatts[90]. - For 2021, the company expects a total power generation of 8.867 billion kWh and operating costs of 634.42 million CNY[93]. - The investment plan for 2021 is projected at 298.82 million CNY, with debt financing expected to reach 2.33 billion CNY[93].

Financial Performance - Operating revenue for the reporting period was ¥793,006,499.92, reflecting a year-on-year increase of 1.61%[8] - Net profit attributable to shareholders was ¥288,696,710.14, down 1.16% year-on-year[8] - Basic earnings per share for the reporting period were ¥0.2123, a decrease of 1.16% year-on-year[8] - The company reported a total net profit of ¥482,269,594.46 for the year-to-date, a decrease of 1.23% compared to the same period last year[8] - The company achieved a total electricity generation of 7.231 billion kWh in the first nine months of 2020, an increase of 3.49 million kWh compared to the same period last year[25] - The total operating revenue for the current period is CNY 793,006,499.92, an increase from CNY 780,411,945.62 in the previous period, representing a growth of approximately 2.3%[57] - The total operating costs decreased to CNY 437,416,532.93 from CNY 443,856,247.98, reflecting a reduction of about 1.0%[57] - The operating profit for the current period is CNY 374,694,642.12, slightly up from CNY 372,409,696.35, indicating a growth of around 0.6%[60] - The net profit for the current period is CNY 327,026,250.39, compared to CNY 327,639,237.35 in the previous period, showing a marginal decrease of approximately 0.2%[60] - The total comprehensive income for the current period is ¥541,494,054.83, compared to ¥546,311,175.97 in the previous period, showing a decrease of approximately 0.9%[104] Cash Flow and Liquidity - Net cash flow from operating activities reached ¥628,801,904.95, an increase of 31.76% compared to the same period last year[8] - The company's cash and cash equivalents decreased by 34.96% to ¥576,135,992.98 compared to the previous year, primarily due to the repayment of bank loans[22] - Cash flow from operating activities generated a net amount of ¥1,153,688,367.80, compared to ¥1,140,075,574.22 in the same period last year[113] - The net cash flow from operating activities was -5,612,204.33 yuan, a significant decrease compared to -1,272,326.81 yuan in the previous period, indicating a worsening cash flow situation[115] - Cash inflow from investment activities totaled 391,322,158.21 yuan, an increase from 343,346,834.62 yuan in the previous period, reflecting improved investment returns[118] - The total cash and cash equivalents at the end of the period decreased to 65,031,044.87 yuan from 123,286,427.07 yuan, showing a decline in liquidity[118] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥18,533,276,913.33, a decrease of 2.35% compared to the previous year[8] - The company's total liabilities decreased from ¥11,846,230,769.34 in 2019 to ¥11,022,702,482.91 in 2020, reflecting a decrease of about 7%[46] - The total assets decreased from ¥18,980,246,723.88 at the end of 2019 to ¥18,533,276,913.33 by September 30, 2020, a reduction of approximately 2.4%[50] - The total liabilities rose to CNY 1,452,900,394.32 from CNY 1,214,770,966.49, which is an increase of approximately 19.6%[57] - The total liabilities increased significantly, with short-term borrowings recorded at 919,600,000.00 yuan, reflecting the company's reliance on debt financing[118] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,070[14] - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., held 62.54% of the shares, totaling 850,331,727 shares[14] Government Support and Subsidies - The company received government subsidies amounting to ¥2,961,710.06 during the reporting period[8] Investment and Financial Activities - The company plans to issue bonds totaling up to ¥1 billion, which has been approved by the China Securities Regulatory Commission[28] - The company reported a 221.44% increase in cash received from investment income, totaling ¥19,243,007.97, due to higher dividends from associated companies[25] - The investment income for the current period is CNY 13,408,660.59, down from CNY 34,781,789.30, indicating a decrease of approximately 61.5%[60] - The company reported a financial income of ¥3,830,772.52, an increase from ¥2,643,817.98 in the previous period, representing a growth of about 44.9%[98] Compliance and Reporting - The company has adjusted its financial statements in accordance with new revenue and leasing standards, indicating compliance with updated accounting regulations[119] - The third-quarter report was not audited, which may affect the reliability of the financial data presented[137]

Financial Performance - The company's operating revenue for the reporting period was ¥942,685,543.32, a decrease of 6.73% compared to ¥1,010,748,977.27 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥193,572,884.32, down 1.33% from ¥196,183,151.35 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥193,037,447.49, a decrease of 1.27% compared to ¥195,511,239.51 last year[23]. - The net cash flow from operating activities was ¥524,886,462.85, down 20.81% from ¥662,855,506.73 in the same period last year[23]. - The basic earnings per share were ¥0.1424, a decrease of 1.32% from ¥0.1443 in the previous year[23]. - The diluted earnings per share were also ¥0.1424, reflecting a 1.32% decrease compared to ¥0.1443 last year[23]. - The weighted average return on net assets was 2.98%, down from 3.23% in the previous year, a decrease of 0.25%[23]. - Total assets at the end of the reporting period were ¥18,715,195,297.50, a decrease of 1.40% from ¥18,980,246,723.88 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were ¥6,458,438,283.92, an increase of 0.90% from ¥6,400,735,848.15 at the end of the previous year[23]. Operational Highlights - The company achieved a total electricity generation of 3.746 billion kWh in the first half of 2020, a slight increase of 0.27% compared to 3.719 billion kWh in the same period last year[40]. - The company's total assets at the end of the reporting period were CNY 18.715 billion, a decrease of 1.40% year-on-year[40]. - The company's net assets attributable to shareholders increased by 0.90% to CNY 6.458 billion[40]. - The electricity industry accounted for 100% of the total operating revenue, with electricity products generating ¥941,293,427.41, also reflecting a 6.73% decrease year-on-year[45]. - Gross profit margin for the electricity industry was 44.98%, down by 1.73% from the previous year[48]. - Major subsidiaries contributed significantly to net profit, with notable performances from companies like Jiuhui Wind Power, which generated a net profit of ¥75,092,801.85[57]. Cash Flow and Liquidity - The company reported a decrease in cash flow from operating activities by 20.81% to CNY 524 million due to a decline in revenue[44]. - The company's cash and cash equivalents decreased by 133.27% to CNY -218 million, primarily due to increased bank loan repayments[44]. - Cash and cash equivalents decreased to ¥668,468,130.83, down 2.18% from ¥1,122,859,918.23 at the end of the previous year[51]. - Total current assets reached approximately ¥2.48 billion, up from ¥2.45 billion[186]. - The company has no overdue debts[171]. Debt and Financing - The company plans to issue bonds totaling up to CNY 1 billion to meet funding needs, which has been approved by the Shenzhen Stock Exchange[40]. - The company issued bonds with a total balance of 700 million yuan and an interest rate of 4.23%[157]. - The funds raised from the bond issuance were used to repay bank loans and supplement working capital, with a remaining balance of 1.28 million yuan as of June 30, 2020[161]. - The credit rating for the company's bonds has consistently been rated AAA with a stable outlook by Dagong Global Credit Rating Co., Ltd. since 2015[162][163][164]. - The company has established a complete guarantee system to ensure the timely repayment of bond principal and interest, including a special repayment account and a communication mechanism with the bond trustee[168]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 51,108[136]. - Gansu Electric Power Investment Group Co., Ltd. holds 62.54% of the shares, totaling 850,331,727 shares[136]. - The second largest shareholder, Chongqing Urban Construction Investment (Group) Co., Ltd., holds 0.85% of the shares, totaling 11,532,466 shares[136]. - The company did not experience any changes in its controlling shareholder during the reporting period[143]. - There were no changes in the actual controller of the company during the reporting period[144]. Environmental and Social Responsibility - The company is committed to improving its environmental protection capabilities in response to stricter ecological policies[66]. - The company has implemented green development principles and improved environmental protection measures[114]. - The company has completed various poverty alleviation projects, including housing relocation for impoverished families[115]. - The company actively engages in community support and poverty alleviation initiatives, including direct assistance to households[116]. - The company provided financial support of 100,000 yuan for the cultural square project in Yaozhai Village[119]. Governance and Compliance - The company’s independent directors have submitted their annual reports, reflecting on governance and oversight[22]. - The company is undergoing a continuous risk assessment related to its financial dealings with Gansu Electric Power Investment Group[27]. - The company has not reported any non-operating related party debts during the reporting period[91]. - The company has not recognized any management income from entrusted projects during the reporting period[97]. - There were no significant legal disputes or arbitration matters during the reporting period[78].

Financial Performance - The company's operating revenue for Q1 2020 was ¥326,247,751.93, a decrease of 9.28% compared to ¥359,635,808.13 in the same period last year[8]. - The net profit attributable to shareholders of the listed company was -¥38,337,620.74, representing a decline of 31.38% from -¥29,179,759.16 year-on-year[8]. - Basic earnings per share were -¥0.0282, a decrease of 31.16% compared to -¥0.0215 in the same period last year[8]. - Net profit declined by 23.03% to -¥36,348,992.30 from -¥29,545,771.13, mainly due to reduced operating revenue[20]. - Total profit fell by 27.18% to -¥33,118,445.04 from -¥26,040,346.85, influenced by the same factors affecting net profit[20]. - The total comprehensive loss for the current period is CNY -36,348,992.30, compared to CNY -29,545,771.13 in the previous period[78]. Cash Flow - The net cash flow from operating activities was ¥223,045,221.73, down 30.24% from ¥335,150,058.91 in the previous year[8]. - Cash received from sales and services decreased by 27.90% to ¥350,002,994.72 from ¥485,446,403.69, linked to lower operating revenue[23]. - The company issued ¥500 million in green medium-term notes during the reporting period, significantly impacting cash flow[24]. - The net increase in cash and cash equivalents was down 289.77% to ¥374,522,208.92 from ¥96,087,127.76, primarily due to the issuance of green medium-term notes[23]. - Cash inflow from financing activities amounted to 499,600,000.00 CNY, significantly higher than 180,000,000.00 CNY in the previous period[95]. - The ending balance of cash and cash equivalents reached 1,255,980,532.45 CNY, up from 562,702,712.99 CNY year-over-year[95]. Assets and Liabilities - Total assets at the end of the reporting period were ¥19,185,158,154.69, an increase of 1.08% from ¥18,980,246,723.88 at the end of the previous year[8]. - Total liabilities rose to ¥12,087,491,192.45, compared to ¥11,846,230,769.34, marking an increase of about 2.03%[42]. - Current liabilities decreased to ¥2,085,755,621.51 from ¥2,245,501,855.09, indicating a reduction of approximately 7.13%[42]. - Owner's equity totaled ¥7,097,666,962.24, down from ¥7,134,015,954.54, showing a decrease of approximately 0.51%[45]. - Long-term borrowings amounted to ¥8,846,185,081.30, slightly down from ¥8,937,770,777.64, a decrease of about 1.02%[42]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 56,774[9]. - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., held 62.54% of the shares, totaling 850,331,727 shares[14]. - The total equity attributable to shareholders decreased to ¥6,362,398,227.41 from ¥6,400,735,848.15, a decline of approximately 0.60%[45]. Investment and Expenses - Investment income increased by 17.26% to ¥20,108,208.11 from ¥17,148,227.60, reflecting improved profitability of associated companies[20]. - The company reported a net non-operating income and expenses of -¥193,175.83 during the reporting period[8]. - The company paid 64,605,329.33 CNY in employee compensation, a decrease from 74,929,638.87 CNY in the previous period[92]. - The company recorded a cash outflow of 9,257,037.60 CNY for investment activities, compared to 27,469,921.99 CNY in the previous period[95]. Other Information - The company has not reported any new product launches or technological advancements in the current quarter[109]. - The first quarter report for 2020 was not audited, indicating a preliminary financial status[110].

Dividend Policy - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2019[6]. - The company has implemented a cash dividend policy, distributing at least 20% of its distributable profits annually[96]. - The company’s 2017 profit distribution plan involved a cash dividend of 0.77 yuan per 10 shares, totaling approximately 74.78 million yuan[100]. - For 2019, the net profit attributable to the parent company decreased to CNY 422,503,763.72, with a proposed cash dividend of CNY 1.00 per 10 shares, totaling CNY 135,957,668.00[104]. - The cash dividend payout ratio for 2019 was 32.18% of the net profit, compared to 30.02% in 2018[105]. - The total distributable profit at the end of 2019 was CNY 699,930,006.07, after accounting for the previous year's cash dividends[109]. - The company did not propose any stock dividends or capital reserve transfers for 2019[104]. - The company plans to maintain a minimum cash dividend ratio of 20% during its growth phase[109]. Financial Performance - The company's operating revenue for 2019 was ¥2,267,603,850.39, a decrease of 1.66% compared to ¥2,305,941,868.89 in 2018[6]. - The net profit attributable to shareholders for 2019 was ¥422,503,763.72, down 12.92% from ¥485,199,230.93 in 2018[6]. - The net profit after deducting non-recurring gains and losses was ¥415,537,443.76, an 8.32% decrease from ¥453,255,773.99 in 2018[6]. - The net cash flow from operating activities increased by 11.70% to ¥1,531,225,612.47 from ¥1,370,860,477.89 in 2018[6]. - The total assets at the end of 2019 were ¥18,980,246,723.88, a decrease of 0.84% from ¥19,140,373,127.76 at the end of 2018[6]. - The net assets attributable to shareholders increased by 6.31% to ¥6,400,735,848.15 from ¥6,020,735,134.32 at the end of 2018[6]. - The company's operating revenue for 2019 was CNY 2.268 billion, a decrease of 1.66% from CNY 2.306 billion in 2018[49]. - The net profit attributable to shareholders for 2019 was CNY 423 million, down 12.92% year-on-year[43]. - The total assets of the company at the end of the reporting period were CNY 18.980 billion, a decrease of 0.84% compared to the previous year[43]. - The company's equity attributable to shareholders increased by 6.31% to CNY 6.401 billion[43]. Operational Efficiency and Market Strategy - The company is actively pursuing market expansion strategies, particularly in the renewable energy sector, to enhance its competitive position[15]. - The company is focused on enhancing its operational efficiency and sustainability practices in line with industry standards[15]. - The company is exploring new product and technology developments to drive future growth and innovation in the energy sector[15]. - The company is considering potential mergers and acquisitions to strengthen its market position and expand its service offerings[15]. - The company aims to strengthen the integrated marketing of its power sector to enhance overall power generation from renewable sources[84]. - The company is focusing on optimizing the operation of hydropower stations to maximize efficiency and profitability[84]. - The company emphasizes strengthening process quality control and cost management to enhance operational efficiency[87]. Environmental and Social Responsibility - The company is committed to environmental protection and will enhance its ecological capabilities in response to stricter regulations[89]. - The company has actively implemented emergency prevention measures in response to the COVID-19 pandemic, ensuring stable operation of power plants and providing reliable electricity support during critical periods[167]. - The company has invested a total of 167.48 million yuan in poverty alleviation efforts, helping 116 registered impoverished individuals to escape poverty[175]. - The company has conducted multiple environmental protection initiatives, successfully addressing all feedback from national and provincial environmental inspections[179]. - The company has implemented a robust environmental management system, ensuring ecological flow and regular fish stocking to improve ecological quality[179]. - The company actively fulfilled social responsibilities, focusing on safety production and environmental protection[165]. Risks and Challenges - The company has acknowledged various risks including natural factors, monetary policy changes, and market risks that could impact future performance[6]. - The company faces risks from natural factors affecting power generation, with measures to improve economic operation capabilities[88]. - The company has a high asset-liability ratio, making it sensitive to changes in monetary policy and interest rates[88]. - The company is involved in ongoing litigation, which may impact future financial performance, with potential liabilities estimated at 100 million yuan[3]. Financing and Investment - The company successfully registered green medium-term notes of up to CNY 1 billion, with the first phase issuance of CNY 500 million at an interest rate of 3.99%[44]. - The company plans to increase its debt financing to 2.655 billion yuan in 2020, up from 1.38 billion yuan completed in 2019[84]. - The company has established a partnership with a financial company to enhance its financing capabilities, which is expected to improve liquidity[11]. - The company reported a capital increase of 600 million yuan for its subsidiary, which will be used to repay bank loans and implement debt-to-equity swaps[196]. - The company plans to actively expand financing channels and optimize loan terms to reduce financing costs[87]. Customer and Supplier Relations - The total sales amount from the top five customers reached ¥2,259,029,880.74, accounting for 99.99% of the annual sales[56]. - The primary customer, State Grid Gansu Electric Power Company, contributed ¥2,258,980,549.45, representing 99.99% of the total sales[56]. - The total procurement amount from the top five suppliers was ¥2,513,330.73, which accounted for 19.45% of the annual procurement[59]. Audit and Compliance - The company appointed Da Xin Accounting Firm as the auditor for the 2019 financial audit, with an audit fee of 650,000 CNY[120]. - There were no significant accounting errors that required retrospective restatement during the reporting period[116]. - The company has no major litigation or arbitration matters during the reporting period, with a total of 4 minor cases involving 17.35 million CNY[125][126]. - The company has implemented new financial instrument standards effective from January 1, 2019, which classify financial assets into three categories[114]. - The company has no major changes in accounting policies or estimates compared to the previous year's financial report[115]. - The company has not faced any situations that could lead to suspension or termination of listing[122]. - The company has no penalties or rectification situations during the reporting period[127].

Financial Performance - Operating revenue for the reporting period was CNY 780,411,945.62, down 10.45% year-on-year[8] - Net profit attributable to shareholders of the listed company decreased by 21.73% to CNY 292,071,507.45[8] - Basic earnings per share were CNY 0.2148, a decrease of 21.75% compared to the same period last year[8] - Total operating revenue for the current period is CNY 780,411,945.62, a decrease of 10.5% from CNY 871,499,293.31 in the previous period[57] - Net profit for the current period is CNY 327,639,237.35, compared to CNY 390,767,694.97 in the previous period, indicating a decline of 16.1%[60] - The company reported a net loss of 7,374,012.35 for the current period, compared to a loss of 4,838,393.67 in the previous period[63] - The total comprehensive income for the current period was -7,374,012.35, compared to -4,838,393.67 in the previous period[66] - The total comprehensive income attributable to the parent company was approximately 488.25 million, a decrease from 502.86 million in the previous period, reflecting a decline of about 2.5%[74] Assets and Liabilities - Total assets at the end of the reporting period were CNY 18,930,490,751.44, a decrease of 1.10% compared to the end of the previous year[8] - Total liabilities decreased to CNY 11,732,553,461.88 from CNY 12,943,078,084.17, indicating a reduction of about 9.4%[43] - Owner's equity rose to CNY 7,197,937,289.56, up from CNY 6,197,295,043.59, reflecting an increase of approximately 16.1%[46] - Current assets totaled CNY 2,308,486,894.98, an increase from CNY 2,039,368,530.97, representing a growth of about 13.2% year-over-year[37] - Total liabilities amount to 709,923,015.00, with current liabilities at 12,546,204.30 and non-current liabilities at 697,376,810.70[109] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,140,075,574.22, an increase of 19.21%[8] - The company’s cash flow from investment activities saw a significant decrease of 89.59%, totaling CNY 5.99 million, due to reduced dividends from associated companies[24] - The net cash flow from investing activities was -125,868,581.98, worsening from -86,637,578.10 in the previous period[85] - The cash inflow from operating activities totaled approximately 1.66 billion, compared to 1.49 billion in the previous period, reflecting an increase of about 11.5%[82] Shareholder Information - The company reported a total of 54,856 common shareholders at the end of the reporting period[13] - Gansu Electric Power Investment Group Co., Ltd. held 62.54% of the shares, making it the largest shareholder[13] Operational Highlights - The total power generation for the company's power stations reached 6.882 billion kWh, with hydropower generation at 5.595 billion kWh and wind and photovoltaic generation at 1.287 billion kWh[24] - The company achieved operating revenue of CNY 1,791.16 million in the first three quarters of 2019, with hydropower revenue at CNY 1,299.22 million, wind and photovoltaic revenue at CNY 491.77 million, and other business revenue at CNY 1.73 million[24] Investment and Financial Strategy - The company plans to focus on expanding its market presence and investing in new technologies to enhance operational efficiency and profitability[39] - The company has a cash flow strategy focusing on reducing financial liabilities and improving liquidity[60] - The company plans to enhance its market presence through strategic investments and potential acquisitions in the energy sector[60]

Financial Performance - The company's operating revenue for the reporting period was CNY 1,010,748,977.27, an increase of 8.98% compared to CNY 927,449,118.35 in the previous year[23]. - The net profit attributable to shareholders of the listed company was CNY 196,183,151.35, representing a 51.27% increase from CNY 129,692,178.61 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 195,511,239.51, up 67.46% from CNY 116,753,414.29 in the previous year[23]. - The net cash flow from operating activities was CNY 662,855,506.73, an increase of 8.32% compared to CNY 611,932,388.46 in the previous year[23]. - Basic earnings per share were CNY 0.1443, a 51.26% increase from CNY 0.0954 in the previous year[23]. - The company achieved operating revenue of RMB 1.01 billion, an increase of 8.98% year-on-year, driven by higher electricity generation and sales revenue[41]. - Net profit attributable to shareholders reached RMB 196 million, reflecting a significant increase of 51.27% compared to the previous year[39]. - Total assets amounted to RMB 19.53 billion, up 2.01% year-on-year, while equity attributable to shareholders increased by 2.56% to RMB 6.18 billion[39]. - Cash flow from operating activities was RMB 663 million, an increase of 8.32% year-on-year, primarily due to higher operating revenue[44]. - The company reported a total comprehensive income of CNY 218,671,938.62, which is a 63.2% increase from CNY 134,105,536.40 in the previous year[198]. - Operating profit for the period was CNY 244,306,178.04, a rise of 77.4% from CNY 137,536,153.52 year-on-year[195]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 19,525,570,753.23, reflecting a 2.01% increase from CNY 19,140,373,127.76 at the end of the previous year[23]. - Net assets attributable to shareholders of the listed company were CNY 6,174,998,688.81, up 2.56% from CNY 6,020,735,134.32 at the end of the previous year[23]. - The company's fixed assets decreased by 2.47% year-on-year, mainly due to depreciation[32]. - Cash and cash equivalents reached ¥1,122,859,918.23, making up 5.75% of total assets, an increase of 3.31% from the previous year due to market-oriented debt-to-equity swaps[50]. - Accounts receivable totaled ¥1,084,837,884.06, which is 5.56% of total assets, reflecting an increase of 1.74% due to higher electricity settlement amounts[50]. - Fixed assets were valued at ¥14,564,027,046.19, accounting for 74.59% of total assets, a decrease of 3.43% due to depreciation[50]. - The total liabilities decreased to approximately ¥10.99 billion from ¥11.22 billion, indicating a reduction in financial obligations[179]. - Owner's equity decreased to approximately ¥12.66 billion from ¥12.94 billion year-over-year[179]. Cash Flow and Investments - Cash and cash equivalents increased significantly by 9,004.03% to RMB 656 million, attributed to market-oriented debt-to-equity swaps[44]. - The company’s total investment during the reporting period was ¥706,670,012.39, a 10.00% increase compared to the previous year[52]. - The company’s investment income for the first half of 2019 was CNY 70,191,323.07, an increase from CNY 56,469,360.37 in the same period of 2018, reflecting a growth of about 24.3%[192]. - The company has implemented a market-oriented debt-to-equity swap, raising RMB 600 million for its subsidiary[39]. - The company has obtained indirect bank credit of ¥23.056 billion through its parent group, with ¥20.617 billion utilized and ¥2.439 billion remaining[167]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The total number of ordinary shareholders at the end of the reporting period was 55,173[129]. - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., holds 62.54% of the shares, totaling 850,331,727 shares[129]. - The company completed a rights distribution plan in April 2019, distributing a cash dividend of 1.50 CNY per 10 shares and converting 4 shares from capital reserves for every 10 shares, resulting in a total share capital of 1,359,576,680 shares[125]. - The total number of shares before the rights issue was 971,126,200, with 388,450,480 shares being issued during the process[125]. Risk Management and Governance - The company faces risks from natural factors affecting hydropower generation, with plans to enhance operational efficiency to mitigate these risks[62]. - The company’s high asset-liability ratio makes it sensitive to changes in monetary policy, prompting efforts to diversify financing channels[62]. - The company continues to monitor risks associated with its financial subsidiaries, ensuring ongoing assessments are conducted[120]. - The company emphasizes the importance of maintaining accurate financial controls and internal evaluations as part of its governance strategy[120]. Social Responsibility and Community Engagement - The company has completed a total of 160,000 RMB in funding for poverty alleviation efforts, helping 72 impoverished individuals to escape poverty[110]. - The company provided 10,000 RMB in financial support for the construction of a cultural square project in Yaozhai Village[107]. - The company has committed to purchasing one-year commercial insurance for 72 impoverished individuals at a cost of 15,000 RMB in total[110]. - The company has undertaken various social responsibility initiatives, including providing essential supplies to impoverished households[107]. - The company has emphasized environmental protection, ensuring all operational power plants meet relevant environmental standards[105]. Legal and Compliance - There were no major litigation or arbitration matters during the reporting period[71]. - The company reported a total of 4 ongoing lawsuits involving a total amount of 76.24 million yuan[75]. - There were no penalties or rectification measures during the reporting period[76]. - The company has no non-operating related party debts during the reporting period[86]. - There were no violations regarding external guarantees during the reporting period[103].

Financial Performance - The company's operating revenue for Q1 2019 was ¥359,635,808.13, representing a 16.58% increase compared to the same period last year[8]. - The net profit attributable to shareholders was -¥29,179,759.16, an improvement of 68.67% from -¥93,800,792.36 in the previous year[8]. - The company's operating revenue increased by 16.58% year-on-year, reaching ¥359,635,808.13, primarily due to an increase in electricity generation and sales revenue[21]. - The net profit improved by 69.50% year-on-year, amounting to -¥29,545,771.13, attributed to higher electricity generation and sales revenue[21]. - The operating profit was reported at CNY -26,147,595.32, an improvement compared to CNY -92,883,147.90 in the previous period[57]. - The net profit for the quarter was CNY -29,545,771.13, which is less than the net loss of CNY -96,860,617.26 from the same period last year[59]. - The company's net profit for the current period is -5,992,806.34 yuan, an improvement from -6,722,732.58 yuan in the previous period, indicating a reduction in losses by approximately 10.8%[67]. Cash Flow - The net cash flow from operating activities decreased by 21.07% to ¥335,150,058.91 compared to ¥426,131,770.60 in the same period last year[8]. - The cash flow from operating activities showed a net increase of ¥96,087,127.76, a significant change of -128.43% compared to the previous year, mainly due to reduced loan repayments[23]. - The total cash flow from operating activities is 335,150,058.91 yuan, a decline from 424,621,076.41 yuan in the previous period, reflecting a decrease of approximately 21.0%[70]. - The net cash flow from operating activities was -4,007,653.67, compared to -2,818,515.54 in the previous period, indicating a decline of approximately 42.1%[75]. Assets and Liabilities - Total assets at the end of the reporting period were ¥18,974,872,001.59, a decrease of 0.86% from the previous year-end[8]. - The net assets attributable to shareholders decreased by 0.48% to ¥5,991,555,375.16 compared to the previous year-end[8]. - The total liabilities decreased significantly, with a notable reduction in accounts payable and tax liabilities, indicating improved cash flow management[21]. - The total liabilities decreased to CNY 12,807,122,729.13 from CNY 12,943,078,084.17, marking a decline of about 1.05%[43]. - The total current liabilities decreased to CNY 1,582,702,186.43 from CNY 1,720,811,707.13, a reduction of approximately 8.03%[43]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 57,412[12]. - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., holds 62.54% of the shares[12]. Investment and Financing Activities - The company completed the acquisition of 92.95% of Zhangye Longhui Hydropower Development Co., Ltd. and 100% of Lianfeng Hydropower Development Co., Ltd. in 2018, which were included in the consolidated financial statements[9]. - Short-term borrowings were introduced, totaling ¥35,000,000.00, as a result of increased loans from financial companies[21]. - The company plans to publicly transfer 40% equity of its subsidiary, with a book value of ¥4,240,158.68, as part of its strategic adjustments[25]. Earnings Per Share - Basic and diluted earnings per share improved to -¥0.0215, a 68.61% increase from -¥0.0966 in the previous year[8]. - The basic earnings per share improved by 68.61% to -0.0215, reflecting the changes in net profit[23]. - The basic and diluted earnings per share were both reported at CNY -0.0215, an improvement from CNY -0.0685 in the previous period[59]. Other Financial Metrics - The company recorded a 127.14% increase in investment income, totaling ¥17,148,227.60, due to improved profitability of associated companies[21]. - The company's financial expenses decreased by 6.38% to ¥136,259,549.54, primarily due to reduced bank loans and interest expenses[21]. - The investment income for the quarter was CNY 17,148,227.60, up from CNY 7,549,592.51, indicating a significant increase of approximately 127%[57]. - The financial expenses decreased to CNY 136,259,549.54 from CNY 145,550,946.04, showing a reduction of about 6.5%[57].

Financial Performance - The company's operating revenue for 2018 was CNY 2,305,941,868.89, representing a 16.07% increase compared to the previous year[23]. - Net profit attributable to shareholders for 2018 was CNY 485,199,230.93, an increase of 85.86% year-on-year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 453,255,773.99, reflecting a 97.71% increase from the previous year[23]. - The net cash flow from operating activities for 2018 was CNY 1,370,860,477.89, up 14.19% compared to the previous year[23]. - The total assets at the end of 2018 were CNY 19,140,373,127.76, a decrease of 3.49% from the end of 2017[26]. - The net assets attributable to shareholders at the end of 2018 were CNY 6,020,735,134.32, an increase of 2.91% year-on-year[26]. - The company reported a diluted earnings per share of CNY 0.4996 for 2018, an increase of 85.86% compared to CNY 0.2535 in 2017[26]. - The company reported a net profit margin of 8% for 2017, with a target to improve it to 10% in 2018[194]. - The company reported a significant increase in revenue for the first three quarters of 2018, with a forecasted growth of 15% compared to the same period last year[103]. Dividend Policy - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares (including tax) to all shareholders based on the total share capital as of December 31, 2018, and will also increase capital by 4 shares for every 10 shares held[6]. - The cash dividend payout ratio for 2018 was 30.02%, compared to 28.64% in 2017[109]. - The company’s cash dividend policy requires a minimum of 20% of the distributable profit to be distributed as cash dividends when there are no major investment plans[101]. - The company did not propose any stock dividends for the years 2017 and 2018, focusing solely on cash dividends[108][110]. Operational Capacity and Growth - The company has a total installed capacity of 2,750,900 kW, with hydropower capacity of 1,796,800 kW, ranking first in the province[37]. - The installed capacity of the company's hydropower rights reached 2.75 million kilowatts after acquiring 100% equity of Lianfeng Hydropower and 92.95% equity of Longhui Hydropower[45][56]. - The company completed the acquisition of controlling stakes in several subsidiaries, which were included in the consolidated financial statements[26]. - The company has a total revenue growth strategy that includes market expansion and potential mergers and acquisitions to enhance its competitive position in the energy sector[6]. Risk Management - The company emphasizes the importance of risk awareness regarding natural factors, monetary policy changes, and electricity market risks that could impact future performance[6]. - The company acknowledges risks from natural factors affecting electricity generation and plans to improve operational capabilities to mitigate these risks[95]. - The company faces risks from monetary policy changes due to its high asset-liability ratio and will actively seek innovative financing methods[95]. - The company is focused on increasing electricity sales and revenue to mitigate risks associated with insufficient electricity demand in the market[95]. Environmental and Social Responsibility - The company has implemented environmental protection measures, ensuring that all operational power stations meet relevant environmental standards[184]. - The company has actively engaged in environmental remediation efforts around its power stations during the reporting period[184]. - The company has invested a total of 284.22 million yuan in poverty alleviation efforts during the reporting period[174]. - The company provided 23 bags of fertilizer worth 2,880 yuan to 4 households in Huoxian Village as part of its targeted poverty alleviation initiatives[173]. - The company donated 30,000 yuan to a local primary school for purchasing learning supplies and improving educational resources[173]. Corporate Governance - The board of directors confirmed that all members attended the meeting to review the annual report, ensuring accountability for the report's accuracy and completeness[5]. - The company has engaged Ruihua Certified Public Accountants for auditing, ensuring compliance and transparency in financial reporting[22]. - The company has established a dedicated investor relations team to facilitate communication with shareholders and stakeholders, enhancing transparency and engagement[17]. - The company has fulfilled its commitments regarding related party transactions and the independence of the listed company[114]. Strategic Initiatives - The company plans to continue expanding its clean energy business in response to favorable policies supporting the renewable energy sector[45]. - The company aims to leverage the advantages of the Electric Power Investment Group to expand its operational scope and enhance its competitiveness in the comprehensive energy sector[89]. - The company plans to invest CNY 200 million in R&D for new technologies in 2018, focusing on sustainable energy solutions[19]. - The company is expanding its market presence in the southwestern region, targeting a 25% increase in market share by 2019[19].