宝新能源(000690) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was approximately CNY 9.41 billion, an increase of 31.44% compared to CNY 7.16 billion in 2020[28]. - The net profit attributable to shareholders for 2021 was CNY 824.37 million, a decrease of 54.65% from CNY 1.82 billion in 2020[28]. - The net cash flow from operating activities for 2021 was CNY 1.43 billion, down 59.21% from CNY 3.52 billion in 2020[28]. - The weighted average return on equity for 2021 was 7.55%, a decrease of 10.34 percentage points from 17.89% in 2020[28]. - The total assets at the end of 2021 were approximately CNY 19.68 billion, an increase of 1.95% from CNY 19.30 billion at the end of 2020[28]. - The net assets attributable to shareholders at the end of 2021 were CNY 11.17 billion, up 2.52% from CNY 10.90 billion at the end of 2020[28]. - The operating revenue rose by 31.44% to 9.41 billion yuan, primarily due to increased electricity generation[48]. - The operating cost surged by 89.74% to 7.88 billion yuan, mainly due to rising coal prices and increased coal consumption[49]. - The operating profit decreased by 56.92% to 989.49 million yuan, attributed to the significant rise in operating costs[49]. - The total amount of accounts receivable at the end of 2021 was ¥1,228,280,650.88, which is 6.24% of total assets, up from 4.07% in the previous year[60]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares, totaling 108,794,393.10 RMB, based on a total share capital of 2,175,887,862 shares as of the end of 2021[4]. - The company has not proposed any bonus shares or capital reserve transfers for the current period[4]. - The total number of shares held by directors and senior management at the beginning of the year was 94,556,905, which decreased to 48,817,380 by the end of the year, reflecting a reduction of 45,739,525 shares[95]. - The annual shareholders meeting had a participation rate of 30.53% on February 23, 2021, with all 8 proposals approved[94]. - The first extraordinary shareholders meeting in 2021 had a participation rate of 28.52% on April 23, 2021, with all 12 proposals approved[94]. - The second extraordinary shareholders meeting in 2021 had a participation rate of 18.02% on November 5, 2021, with all 3 proposals approved[94]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[4]. - The company has disclosed significant risks that may adversely affect its future development strategies and operational goals[4]. - The company has established a robust internal control system and governance structure to ensure compliance and effective management[90]. - The company maintains independence from its controlling shareholder in terms of personnel, assets, finance, and operations, ensuring no competition or related party transactions[91]. - The company has a clear financial management system with independent accounting practices and tax compliance[93]. - The independent directors confirmed that the company did not provide any guarantees exceeding the stipulated limits during the reporting period[178]. Operational Capacity and Projects - The company has a total installed capacity of 1,470,000 kW from six circulating fluidized bed generator sets at the Meixian Heshuyuan Power Plant[18]. - The company operates the Lufeng Jiahuwan Clean Energy Base, which includes both onshore and offshore wind power plants[18]. - The company is actively pursuing the approval process for the expansion of the Guangdong Lufeng Jiahuwan Power Plant, which involves a project capacity of 2×1000MW[84]. - The company successfully connected the 500MW offshore wind power project in Shantou to the grid, reinforcing its leading position in the renewable energy sector[39]. Environmental Responsibility - The company has successfully integrated clean energy and environmental responsibility into its business model, establishing itself as a leader in renewable energy in China[144]. - The company’s pollution control facilities operated with a desulfurization facility utilization rate of over 99.86% and a denitrification facility utilization rate of 100%[145]. - The company’s subsidiaries have consistently met national environmental discharge standards for all indicators in 2021[144]. - The company has completed all necessary environmental impact assessments and permits for its major projects, including the Meixian Heshuyuan Power Plant and the Lufeng Jiahuwan Power Plant[146][147]. - The company has shared its environmental self-monitoring plans for the Meixian Heshuyuan Power Plant and the Lufeng Jiahuwan Power Plant on the national pollution source monitoring information management platform[150]. Strategic Focus and Future Plans - The company has been focusing on clean coal combustion technology and renewable energy generation as part of its business strategy[26]. - The company aims to explore new strategic industries such as smart energy and energy storage while ensuring compliance and stability in its financial operations[83]. - The company plans to control raw material and production costs effectively to ensure operational efficiency[84]. - The company is committed to sustainable development and enhancing energy efficiency in line with national green development goals[82]. - The company expects overall electricity consumption to continue to grow in 2022, supported by favorable economic policies[80]. Corporate Governance - The company completed the election of the ninth board of directors and the ninth supervisory board on April 23, 2021[96]. - The new board of directors includes 8 members, with 3 independent directors elected[96]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 4,509.71 million[95]. - The company has a structured remuneration management system that includes performance evaluation standards and procedures[109]. - The remuneration decision-making process is based on the main responsibilities and importance of management positions[109]. Financial Management and Investments - The company has made changes to its consolidation scope by deregistering subsidiaries with minimal revenue and relevance to its core business[55]. - The company reported a significant increase in raw material costs, with raw material expenses reaching ¥6,574,926,622.82, accounting for 83.43% of total operating costs[53]. - The company invested a total of 65,405,200 in entrusted financial management, with no overdue amounts[177]. - The company did not experience any expected inability to recover principal or other impairment risks in entrusted financial management[177]. - The company plans to invest RMB 100,000,000 in a joint venture with Shenzhen Dongfang Fuhai Investment Management Co., Ltd. and others[172].