GHEC(002060)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was CNY 12,583,024,873.89, representing a 12.92% increase compared to CNY 11,143,485,046.29 in 2019[11]. - The net profit attributable to shareholders for 2020 was CNY 263,578,185.52, up 12.64% from CNY 234,009,087.42 in the previous year[11]. - The basic earnings per share for 2020 was CNY 0.2192, an increase of 12.64% from CNY 0.1946 in 2019[11]. - The total assets of the company at the end of 2020 were CNY 29,491,657,758.56, compared to CNY 26,047,764,064.96 in 2019, marking a growth of 13.22%[11]. - The company's net assets attributable to shareholders increased by 13.51% to CNY 3,671,847,688.78 in 2020 from CNY 3,234,933,867.83 in 2019[11]. - The weighted average return on equity at the end of 2020 was 8.04%, up from 7.48% at the end of 2019[11]. - The company reported a net profit excluding non-recurring gains and losses of CNY 270,639,573.42, which is a 20.80% increase from CNY 224,045,032.83 in 2019[11]. - The total operating revenue for 2020 was CNY 12,583,024,873.89, representing a year-on-year increase of 12.92% compared to CNY 11,143,485,046.29 in 2019[39]. - Net profit attributable to shareholders increased by 12.64% to CNY 263.58 million[36]. - The company reported a significant increase in R&D expenses, totaling CNY 100.51 million, which is a 187.94% increase from CNY 34.91 million in 2019, primarily due to increased investment in engineering project R&D[49]. Cash Flow and Investments - The net cash flow from operating activities decreased by 68.92% to CNY 970,985,522.32, down from CNY 3,124,514,596.37 in 2019[11]. - The total cash inflow from operating activities was CNY 13.18 billion, a decrease of 1.28% from CNY 13.35 billion in 2019[52]. - The total cash outflow from operating activities increased by 19.40%, amounting to CNY 12.20 billion compared to CNY 10.22 billion in 2019[52]. - The net cash flow from investing activities improved by 43.73% to -CNY 1,812,348,047.39, mainly because of a decrease in project investment expenditures[54]. - The total investment amount for the reporting period was CNY 2,586,227,224.05, reflecting a 4.12% increase compared to the previous year[58]. - The company has a total installed capacity of 1,442.38 MW in clean energy projects, including 213 MW from hydropower, 673 MW from wind power, and 556.38 MW from solar power[22]. Project Development and Contracts - The company has 282 ongoing engineering projects with a total project amount of CNY 63,174,932,873.42, of which CNY 31,844,320,347.26 has been recognized as revenue[42]. - The company completed 60 engineering projects during the reporting period, with a total project amount of CNY 3,675,977,804.80 and recognized revenue of CNY 2,157,218,810.49[41]. - The company is actively expanding its renewable energy portfolio through multiple wind power projects across different regions[144]. - The company signed a construction contract for the Guangzhou Metro Line 18 and Line 22, with contract values of approximately ¥298.32 million and ¥137.83 million respectively, and a total construction period of up to 1464 days for certain segments[173]. - The company is currently engaged in various construction projects, with a focus on energy efficiency and reduction of emissions[166]. Market and Strategic Focus - The company aims to enhance its clean energy investments, with a focus on wind and solar power, as the share of non-fossil energy in total energy consumption is targeted to reach around 20% by 2025[20]. - The company is actively expanding into offshore wind power equipment manufacturing, with a manufacturing capacity of approximately 200,000 tons per year[24]. - The company is focusing on transformation and upgrading towards new infrastructure, green construction, and intelligent manufacturing to ensure sustainable development[72]. - The company is committed to management innovation and optimizing its corporate governance structure to align with high-quality development[71]. - The company is enhancing its risk management and internal control systems to improve its ability to withstand risks and ensure business continuity[72]. Shareholder and Dividend Policy - The company plans to distribute a cash dividend of CNY 0.65 per 10 shares, totaling CNY 78,146,033.77 based on 1,202,262,058 shares[3]. - The cash dividend for 2020 represents 29.65% of the net profit attributable to ordinary shareholders, compared to 30.83% in 2019 and 20.96% in 2018[81]. - The total distributable profit for 2020 was 1,057,954,184.18 CNY, with the cash dividend accounting for 100% of the profit distribution[82]. - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends of 42,079,172.03 CNY in 2018 and 72,135,723.48 CNY in 2019[79]. - The company has established a shareholder return plan to enhance the transparency of its cash dividend policy[78]. Corporate Governance and Compliance - The independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights[79]. - The company actively protects the rights of shareholders, especially minority shareholders, by adhering to legal regulations and improving corporate governance[127]. - The company has not faced any penalties or rectification issues during the reporting period[96]. - The company has no stock incentive plans or employee shareholding plans in place during the reporting period[98]. - The company has not engaged in any asset or equity acquisition or sale related party transactions during the reporting period[101]. Social Responsibility and Community Engagement - The company provided assistance to 72 underprivileged employees, with a total of 119,500 RMB in aid[132]. - The company donated a total of 885,400 RMB for poverty alleviation efforts, including 21,400 RMB specifically for supporting impoverished students[138]. - The company aims to integrate economic, social, and environmental benefits in its development strategy, focusing on sustainable practices and community support[136]. - The company has committed to continuing its poverty alleviation efforts, emphasizing the development of solar energy projects to increase the income of impoverished communities[139].