HYNY(600758)2023-04-27 16:00Financial Performance - Revenue in 2022 reached 6,619,126,721.45 yuan, an increase of 11.91% compared to 2021[24] - Net profit attributable to shareholders of the listed company in 2022 was 194,747,216.19 yuan, a significant increase of 631.52% compared to 2021[24] - Net cash flow from operating activities in 2022 was 1,669,084,756.19 yuan, a decrease of 10.85% compared to 2021[24] - Total assets at the end of 2022 were 14,932,062,560.90 yuan, a decrease of 2.28% compared to the end of 2021[24] - Basic earnings per share in 2022 were 0.15 yuan, an increase of 650% compared to 2021[25] - Weighted average return on equity in 2022 was 3.71%, an increase of 3.18 percentage points compared to 2021[35] - Revenue in the first quarter of 2022 was 1,975,644,611.64 yuan, the highest among all quarters[36] - Net profit attributable to shareholders in the first quarter of 2022 was 230,181,558.43 yuan, the highest among all quarters[36] - Government subsidies included in current profits in 2022 amounted to 30,348,598.21 yuan[37] - Total operating revenue for 2022 reached 6,619,126,721.45, a 11.9% increase from 5,914,532,149.93 in 2021[172] - Operating profit in 2022 was 659,803,885.25, a significant increase from 263,048,621.90 in 2021[172] - Net profit for 2022 was 193,389,356.63, a substantial rise from 26,251,786.92 in 2021[173] - R&D expenses increased to 1,298,640.77 in 2022, up from 800,000.00 in 2021[172] - Basic earnings per share (EPS) for 2022 was 0.15, compared to 0.02 in 2021[173] - Total comprehensive income for 2022 was 193,389,356.63, a significant improvement from 26,251,786.92 in 2021[173] - Sales expenses in 2022 were 41,758,976.03, slightly up from 41,334,978.98 in 2021[172] - Financial expenses decreased to 234,388,795.86 in 2022 from 294,076,516.98 in 2021[172] - Income tax expense for 2022 was 432,414,524.75, up from 206,605,040.94 in 2021[173] - Total profit for 2022 was 625,803,881.38, a significant increase from 232,856,827.86 in 2021[173] - Cash and cash equivalents at the end of the period increased to RMB 1,516,063,101.07, up from RMB 864,860,011.42 at the beginning of the period[175] - Net cash flow from financing activities was negative at RMB -898,954,649.11, compared to RMB -1,410,703,527.91 in the previous period[175] - Total assets increased to RMB 5,228,287,193.87, up from RMB 5,118,906,457.27 in the previous year[180] - Fixed assets decreased to RMB 6,427,984,832.00, down from RMB 6,768,176,502.96 in the previous year[180] - Total liabilities increased to RMB 5,296,190,271.94, up from RMB 4,961,243,038.24 in the previous year[179] - Net profit attributable to the parent company increased to RMB 26,622,270.92, up from RMB 45,829,810.83 in the previous year[179] - Total equity increased to RMB 5,294,783,262.25, up from RMB 4,962,211,574.97 in the previous year[179] - Cash flow from operating activities increased to RMB 651,203,089.65, compared to RMB -631,569,638.38 in the previous period[175] - Total revenue increased to RMB 362,433,887.10, up from RMB 329,664,756.33 in the previous year[179] - Total expenses increased to RMB 329,664,756.33, up from RMB 362,433,887.10 in the previous year[179] - Total assets decreased from RMB 15.28 billion in 2021 to RMB 14.93 billion in 2022, a decline of 2.3%[181] - Total liabilities decreased from RMB 10.21 billion in 2021 to RMB 9.64 billion in 2022, a reduction of 5.6%[181] - Net cash flow from operating activities was RMB 1.67 billion in 2022, down from RMB 1.87 billion in 2021, a decrease of 10.8%[185] - Net cash flow from investing activities improved from a negative RMB 1.09 billion in 2021 to a negative RMB 118.93 million in 2022[185] - Net cash flow from financing activities was RMB 598.31 million in 2022, compared to a negative RMB 102.31 million in 2021[187] - Short-term borrowings decreased from RMB 4.77 billion in 2021 to RMB 4.09 billion in 2022, a reduction of 14.3%[181] - Long-term borrowings decreased significantly from RMB 515 million in 2021 to RMB 95 million in 2022, a decline of 81.6%[181] - Sales revenue from goods and services was RMB 6.53 billion in 2022, up from RMB 6.08 billion in 2021, an increase of 7.4%[185] - Cash received from tax refunds increased from RMB 39.02 million in 2021 to RMB 84.37 million in 2022, a rise of 116.2%[185] - Cash paid for employee compensation increased from RMB 1.61 billion in 2021 to RMB 1.80 billion in 2022, an increase of 11.8%[185] - Total owner's equity at the beginning of the year was RMB 5,068,561,184.79, with a comprehensive income of RMB 194,747,216.19 for the year[189] - The company's capital reserve increased by RMB 63,590.06 during the year, and the undistributed profit increased by RMB 185,646,013.77[189] Dividends and Profit Distribution - The company plans to distribute cash dividends of RMB 0.6 per share (tax included) based on a total share capital of 1,322,017,394 shares, totaling RMB 79,321,043.64 (tax included)[17] - Cash dividend amount (including tax) is RMB 79,321,043.64, accounting for 40.73% of the net profit attributable to ordinary shareholders in the consolidated financial statements[118] - Net profit attributable to ordinary shareholders in the consolidated financial statements is RMB 194,747,216.19[118] - The company did not distribute profits in 2021 due to significant losses in 2020 and limited profits in 2021[116] - The company's cash dividend policy and execution comply with the Articles of Association and shareholder meeting resolutions, with a complete decision-making process and mechanism[117] Internal Control and Risk Management - The company's subsidiaries have no loss of control during the reporting period, and the internal control system has been continuously improved to enhance risk management and operational efficiency[2] - The company's internal control evaluation report for 2021 was prepared and disclosed on the Shanghai Stock Exchange website on April 22, 2022[2] - The company has no significant defects in internal control during the reporting period, and no violations of decision-making procedures for external guarantees[18] - The company's internal control audit report for 2022 received a standard unqualified opinion[119] - The company has established a comprehensive internal control system in compliance with regulatory requirements and continuously improved its internal control mechanisms[93] Environmental Compliance and Sustainability - The company's wastewater discharge complies with the "Surface Water Environmental Quality Standard" (GB3838-2002) Class IV, with specific emissions including sulfur dioxide (16.65 tons), nitrogen oxides (25.59 tons), and particulate matter (3.95 tons)[3] - The company invested 31.1974 million yuan in environmental protection during the reporting period[105] - The company's wastewater and emissions met the standards set by the "Liaoning Province Comprehensive Wastewater Discharge Standard" (DB21/1627-2008) and the "Boiler Air Pollutant Emission Standard" (GB13271-2014)[106] - The company's environmental monitoring reports and plans were publicly disclosed on the Liaoning Province Key Pollutant Discharge Unit Information Disclosure Network[107] - The company's environmental monitoring data shows that COD emissions were 11.84 tons, significantly below the permitted limit of 45.16 tons/year[193] - Ammonia nitrogen (NH3-N) emissions were 0.65 tons, well below the permitted limit of 8.55 tons/year[193] - Nitrogen oxides (NOx) emissions were 5.09 tons, below the permitted limit of 20.95 tons/year[193] - Sulfur dioxide (SO2) emissions were 1.38 tons, below the permitted limit of 5.8 tons/year[193] - The company has implemented environmental emergency plans for all production units[191] - The company adheres to strict environmental monitoring and compliance, with all wastewater treated to meet standards before discharge[193] - No carbon reduction measures were implemented during the reporting period, resulting in 0 tons of CO2 equivalent reduction[197] - The company did not disclose a separate social responsibility report, sustainability report, or ESG report for the period[197] Corporate Governance and Shareholder Information - The company's stock is listed on the Shanghai Stock Exchange under the ticker symbol 600758, with the previous stock name being Hongyang Energy[22] - The company's registered office is located at No. 110 Qingnian Street, Shenhe District, Shenyang City, Liaoning Province, with a postal code of 110000[14] - The company's annual report for 2022 was audited by ZhongShen ZhongHuan Certified Public Accountants, who issued a standard unqualified audit report[8] - The company's forward-looking statements in the report, including future plans and development strategies, do not constitute a substantive commitment to investors[9] - The company held its 2022 First Extraordinary General Meeting on April 1, 2022, and the resolutions were published on the SSE website on April 2, 2022, including the proposal to appoint Cao Jinqiu as an independent director[72] - The 2021 Annual General Meeting was held on May 27, 2022, with resolutions published on May 28, 2022, including the approval of the 2021 Board of Directors Work Report, 2021 Financial Report, and 2021 Profit Distribution Plan[72] - The total pre-tax compensation for all executives and directors in 2022 amounted to 4.7886 million yuan, with the highest individual compensation being 638,900 yuan for the Vice President[73] - The company's independent directors, Zhu Zhenyu and Cheng Guobin, each received 80,000 yuan in pre-tax compensation for their services in 2022[73] - The company's total shareholding by executives and directors remained unchanged at 5,000 shares from the beginning to the end of 2022[73] - The board of directors held 8 meetings in 2022, with all directors attending in person or via teleconference[87] - The audit committee convened 6 meetings during the reporting period[88] - The compensation and assessment committee held 1 meeting on October 26, 2022, to evaluate the performance of senior management for 2021[89] - Total actual remuneration for directors, supervisors, and senior management at the end of the reporting period was 4.7886 million RMB[96] - Independent director allowances were adjusted from 50,000 RMB to 80,000 RMB annually starting from June 1, 2017[96] - Guo Hongbo has been serving as the Chairman of Liaoning Energy since April 2020[94] - Zhou Minghong has been serving as the General Manager and Director of Liaoning Energy since August 2021[94] - Gao Guoqin has been serving as the Deputy General Manager of Liaoning Energy since October 2021[94] - Wang Ce has been serving as a Director of Liaoning Energy since March 2023[94] - Zhu Zhenyu has been serving as an Independent Director of Liaoning Energy since May 2020[94] - Cheng Guobin has been serving as an Independent Director of Liaoning Energy since May 2020[94] - Cao Jinqiu has been serving as an Independent Director of Liaoning Energy since April 2022[94] - Li has been serving as the Chairman of the Supervisory Board of Liaoning Energy since December 2021[94] - The company's 2021 financial report was audited by Zhonghuan Certified Public Accountants, and the audit results were considered complete and fair, reflecting the company's financial status, operating results, and cash flows as of December 31, 2021[101] - The company's 2021 annual financial report and internal control evaluation report were approved by the audit committee and submitted to the board of directors for review[101] - The company's 2022 first-quarter, semi-annual, and third-quarter reports were reviewed and approved by the board of directors[101] - The company's 2021 profit distribution plan and financial final accounts report were approved during the 18th meeting of the 10th board of directors[98] - The company's 2022 annual financial audit and internal control evaluation reports will continue to be handled by Zhonghuan Certified Public Accountants[101] - The company's 2022 annual financing credit limit and guarantee limit for subsidiaries were authorized during the 18th meeting of the 10th board of directors[98] - The company's 2021 daily related-party transactions and 2022 expected related-party transactions were confirmed during the 18th meeting of the 10th board of directors[98] - The company ensures the equal rights of minority shareholders and strictly follows the procedures for convening and holding shareholders' meetings[81] - The company has improved its corporate governance structure and information disclosure management in accordance with relevant laws and regulations[81] - The company maintains independence and compliance with regulatory requirements, ensuring no significant debt risks or ongoing litigation[192] - The company has committed to avoiding or minimizing related-party transactions and ensuring fair and transparent dealings[192] - The company renewed the appointment of Zhonghuan Certified Public Accountants (Special General Partnership) as the financial and internal control auditor for the 2022 fiscal year[198] - The company is involved in a significant legal dispute regarding the transfer of land valued at 25.432 million RMB, which is currently under retrial by the Hefei Intermediate People's Court[198] - The company adjusted the transaction amounts with some related parties based on actual business conditions, adhering to national and market pricing principles[199] Industry and Operational Performance - The company's coal industry revenue reached 4,874,352,021.68 yuan, with a year-on-year increase of 20.82%, and the gross margin increased by 7.60 percentage points to 39.98%[43] - The power industry revenue was 1,677,788,353.78 yuan, with a year-on-year increase of 1.12%, but the gross margin decreased by 8.55 percentage points to -14.18%[43] - The coal product revenue was 4,874,352,021.68 yuan, with a year-on-year increase of 20.82%, and the gross margin increased by 7.60 percentage points to 39.98%[43] - The power generation business revenue was 861,669,288.97 yuan, with a year-on-year increase of 1.80%, but the gross margin decreased by 0.87 percentage points to -15.84%[43] - The heating business revenue was 816,119,064.81 yuan, with a year-on-year increase of 0.41%, but the gross margin decreased by 16.53 percentage points to -12.42%[43] - The revenue in the Liaoning region was 5,481,912,008.62 yuan, with a year-on-year increase of 4.29%, and the gross margin increased by 1.11 percentage points to 20.28%[43] - The revenue in the Inner Mongolia region was 1,070,228,366.84 yuan, with a year-on-year increase of 144.64%, and the gross margin increased by 9.02 percentage points to 55.99%[43] - The company's coal production capacity reached 11.6 million tons per year, with 7 coal mines under its jurisdiction[42] - The company's power generation capacity reached 708MW, including 2×330MW coal-fired power generation units and 4×12MW coal gangue power generation units[42] - The company's railway transportation system has a total length of 136 kilometers, with an annual transportation design capacity of over 10 million tons[42] - Coal industry costs increased by 7.24% year-on-year, with total costs reaching 2,925,708,202.98 yuan[44] - Employee compensation in the coal industry rose by 8.34% to 1,222,738,841.70 yuan, accounting for 41.79% of total costs[44] - Electricity costs in the coal industry surged by 24.71% to 230,073,618.67 yuan[44] - Other expenses in the coal industry increased significantly by 30.96% to 348,738,412.46 yuan[44] - Power generation business costs grew by 9.31% to 1,915,677,479.70 yuan, with fuel and power costs rising by 11.92%[44] - Heating business costs increased by 17.72% to 917,479,335.76 yuan, driven by a 24.46% rise in fuel and power costs[45] - Total R&D investment reached 1,298,640.77 yuan, accounting for 0.02% of operating revenue, with a