XCEP(SH:600505)2016-03-30 16:00Financial Performance - The company's operating revenue for 2015 was RMB 836,978,144.05, representing a year-on-year increase of 9.68% compared to RMB 763,134,931.59 in 2014[17]. - The net profit attributable to shareholders for 2015 was RMB 65,215,545.38, which is a 5.52% increase from RMB 61,804,133.35 in 2014[17]. - The net profit after deducting non-recurring gains and losses was RMB 58,888,335.25, reflecting a 1.60% increase from RMB 57,961,155.79 in the previous year[17]. - The cash flow from operating activities for 2015 was RMB 222,449,157.86, marking a significant increase of 31.82% from RMB 168,757,091.63 in 2014[17]. - The total assets at the end of 2015 amounted to RMB 2,271,358,554.75, which is a 24.89% increase from RMB 1,818,676,306.10 in 2014[17]. - The company's net assets attributable to shareholders at the end of 2015 were RMB 985,143,982.20, up by 5.83% from RMB 930,865,461.82 in 2014[17]. - The basic earnings per share for 2015 were RMB 0.1789, an increase of 5.55% compared to RMB 0.1695 in 2014[18]. - The weighted average return on equity for 2015 was 6.81%, slightly down from 6.83% in 2014[18]. - The gross profit margin for the hydropower sector decreased by 1.17 percentage points to 22.28%[39]. - The total profit for the year 2015 was CNY 100,602,638.95, an increase from CNY 89,887,858.20 in the previous year, representing a growth of approximately 12.6%[171]. - The net profit for 2015 reached CNY 86,075,176.63, compared to CNY 74,958,887.05 in 2014, indicating a year-over-year increase of about 14.0%[171]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.30 per 10 shares, totaling RMB 10,937,025.00, based on the total share capital of 364,567,500 shares[3]. - The company distributed cash dividends of 0.30 RMB per 10 shares, totaling 10.94 million RMB in cash dividends for the year[33]. - In 2015, the company distributed a cash dividend of RMB 0.30 per share, totaling RMB 10,937,025, which represents 16.77% of the net profit attributable to shareholders[85]. - The profit distribution to shareholders is recorded at -10,937,025.00 RMB, showing a decrease compared to the previous period[191]. Operational Highlights - The company achieved a total self-generated electricity of 710 million kWh, representing a year-on-year growth of 5.49%[34]. - The total electricity sales reached 2 billion kWh, with a year-on-year increase of 7.76%[34]. - The company completed over 3,000 engineering projects in the construction and installation business in 2015[32]. - The company has a total of 6 direct hydropower plants and 2 holding hydropower plants, contributing to its integrated power generation and supply operations[26]. - The company reported a total revenue of 24,836,883.47, with a significant increase in non-operating income compared to the previous period[23]. - The company has established a comprehensive governance structure to enhance operational efficiency and compliance with regulations[28]. - The company aims to enhance its market presence by improving customer service and communication channels with key clients[30]. - The company has established a multi-level technical supervision network to improve production efficiency and implement equipment upgrades[76]. Investments and Capital Expenditures - The company achieved a total investment of 54.69 million in controlling the Salt Source Fengguang New Energy Co., Ltd., holding a 51% stake[27]. - The total amount of construction in progress reached 608.50 million, representing a 330.60% increase compared to the beginning of the year[27]. - Capital expenditures for the year included 8,355.27 million RMB for the Muli Guzeng Power Station, with a completion rate of 7.99%[60]. - The company holds a 51% stake in the newly established Yanyuan Fengguang New Energy Co., Ltd., which focuses on solar power generation[63]. Risk Management and Compliance - The company acknowledges market risks due to its reliance on a single customer structure, which may affect profitability during economic downturns[78]. - The company faces operational risks from seasonal fluctuations in hydropower generation, which may increase electricity purchase costs if self-generated power is insufficient[78]. - The company is committed to improving safety management and addressing issues related to aging equipment and insufficient power supply capacity[79]. - The company has established a strict governance structure in compliance with relevant laws and regulations[139]. - The independent directors did not raise any objections to the board's proposals during the reporting period[144]. Shareholder Structure and Governance - The top shareholder, State Grid Sichuan Electric Power Company, holds 73,449,220 shares, representing 20.15% of total shares[112]. - Sichuan Water Investment Group Limited holds 66,616,383 shares, accounting for 18.27% of total shares[112]. - Liangshan State-owned Investment Development Co., Ltd. has 61,578,420 shares, which is 16.89% of total shares[113]. - The company has established a strong relationship with its major shareholders, with voting rights delegated to State Grid Sichuan Electric Power Company for certain shares[114]. - The company is focused on improving its governance structure through the election of independent directors[127]. - The company’s leadership includes professionals with backgrounds in engineering, finance, and law, enhancing its operational capabilities[126]. Employee and Management Practices - The company employed a total of 1,009 staff, including 827 in the parent company and 182 in major subsidiaries[134]. - The company conducted 3,236 employee skill training sessions and 104 management training sessions in 2015[136]. - The company has established a performance evaluation mechanism for senior management, linking compensation to the achievement of annual work goals and operational plans[149]. - Total compensation for directors, supervisors, and senior management amounted to 5.0457 million yuan[131]. Financial Position and Liquidity - Total liabilities increased to CNY 1,150,558,036.48 from CNY 800,459,721.78, a rise of approximately 43.6%[160]. - The total equity attributable to shareholders rose to CNY 985,143,982.20 from CNY 930,865,461.82, an increase of about 5.8%[161]. - The cash and cash equivalents at the end of 2015 were CNY 105,419,732.47, down from CNY 122,318,478.07 at the end of 2014, a decrease of approximately 13.8%[175]. - The company plans to focus on improving cash flow management and exploring new financing options to enhance liquidity in the upcoming year[177].