BJP(SH:600578)2014-04-08 16:00Financial Performance - In 2013, the company achieved a net profit of CNY 2.196 billion, a 36.01% increase compared to CNY 1.615 billion in 2012[25]. - The total revenue for 2013 was CNY 10.071 billion, a slight decrease of 0.11% from CNY 10.082 billion in 2012[25]. - The company's operating cash flow net amount increased by 21.97% to CNY 3.819 billion from CNY 3.131 billion in the previous year[29]. - The total assets at the end of 2013 were CNY 30.892 billion, an 8.01% increase from CNY 28.602 billion in 2012[25]. - The company reported a net profit of 2.868 billion yuan, with a net profit attributable to shareholders of 2.196 billion yuan, representing a year-on-year increase of 36%[33]. - Total operating revenue reached 10.028 billion yuan, with a slight decrease of 0.17% compared to the previous year[35]. - The cost of main business operations was 6.697 billion yuan, down 9.29% from the previous year, leading to an increase in gross margin to 33.22%[35]. - The company’s weighted average return on equity was 18.94%, a decrease of 0.99 percentage points from 2012[26]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 923,464,190.80 for the year 2013, based on a total share capital of 4,617,320,954 shares as of December 31, 2013[6]. - The company's net profit attributable to shareholders for 2013 was 2,196,372,067.27 RMB, representing a profit distribution ratio of 52.56%[69]. - The company emphasizes cash dividends, planning to distribute at least 10% of the distributable profits annually, barring special circumstances[67]. - In 2013, the company completed a mid-year profit distribution, distributing 1.00 RMB per 10 shares and increasing the share capital by 10%[69]. - The company reported a positive retained earnings balance, with remaining undistributed profits of 213,571,874.34 RMB after the proposed dividend[70]. Shareholder Structure - The controlling shareholder, Beijing Jingneng International Energy Co., Ltd., holds a 62.14% stake in the company as of the end of the reporting period[21]. - The company’s stock is listed on the Shanghai Stock Exchange under the code 600578[16]. - The total number of shareholders at the end of the reporting period was 44,843, compared to 55,070 at the end of the previous trading day[105]. - Major shareholders include Beijing Jingneng International Energy Co., Ltd. with 548,835,464 shares and Shanxi International Power Group Co., Ltd. with 280,346,128 shares, highlighting strong institutional support[106]. Risk Management - The company will continue to face risks related to electricity market demand, coal supply, environmental policy changes, and safety production management in 2014[12]. - The company has taken effective measures to mitigate risks that may impact its future development strategy and operational goals[12]. - The company faces risks related to fuel price stability and environmental policy changes, which may impact operational costs and compliance[63]. - The company will adjust coal procurement strategies to maintain economic operation and reduce the average coal price[64]. Operational Efficiency - The average utilization hours of the company's units reached 5,662 hours, exceeding the national average for thermal power generation[28]. - The company successfully reduced its coal consumption and improved its power generation efficiency through technical upgrades[28]. - The controllable installed capacity of the company reached 5.89 million kW, with an annual power generation of 33.239 billion kWh[38]. - The company plans to continue expanding its market presence and enhance its operational efficiency through strategic asset restructuring[34]. Corporate Governance - The company has established a strong governance structure, enhancing operational efficiency and investor confidence[39]. - The company has made substantial progress in project development, including the establishment of the Hebei Zhuozhou thermal power project with a capacity of 2×350MW[40]. - The company has implemented a modern management system, focusing on talent development and risk management to enhance overall profitability[40]. - The company’s board restructuring reflects its commitment to governance and effective management practices[123]. Related Party Transactions - The company engaged in various related party transactions, with a total expected transaction amount of 40 million RMB for the year 2013[74]. - The total amount of related party transactions for the company reached CNY 20,084,743.09, with a significant portion being cash transactions[76]. - The company has established a joint venture with its actual controller, Jingneng Group, for the construction and operation of a coal-fired cogeneration unit[78]. - The company’s related party transactions do not impact its independence[76]. Future Outlook - The expected electricity consumption growth for 2014 is projected at approximately 7.0%, with a total of 9600 MW of new power generation capacity anticipated[57]. - The company aims to maintain stable profitability in 2014, with coal prices expected to remain low and not exceed last year's levels[60]. - The company plans to invest approximately 711 million RMB in capital expenditures for ongoing projects, including the Inner Mongolia Kangbashi Thermal Power Plant and others[62]. - The company is focused on the production and sale of electricity and heat products, as well as power equipment operation and maintenance[198].