BJP(SH:600578)2016-04-08 16:00Financial Performance - In 2015, the company's operating revenue was approximately CNY 10.87 billion, a decrease of 16.13% compared to CNY 12.96 billion in 2014[17] - The net profit attributable to shareholders was CNY 2.61 billion, representing a slight increase of 2.51% from CNY 2.55 billion in the previous year[17] - The net profit after deducting non-recurring gains and losses was CNY 2.57 billion, up 9.60% from CNY 2.34 billion in 2014[17] - The cash flow from operating activities was CNY 4.28 billion, down 16.58% from CNY 5.13 billion in 2014[17] - In 2015, the company achieved total operating revenue of CNY 10.873 billion, a decrease of 7% compared to the previous year[28] - The net profit attributable to shareholders was CNY 2.615 billion, with a year-on-year increase of 11.84%[28] - The company reported a total profit of 3.61 billion RMB, a year-on-year decrease of 5.85%, while the net profit attributable to shareholders increased by 2.51% to 2.615 billion RMB[29] - The company's EBITDA for 2015 was CNY 6,281,994,417.46, a decrease of 11.87% compared to CNY 7,128,047,066.07 in 2014, primarily due to reduced power generation and lower grid electricity prices[165] - The net profit for 2015 reached CNY 2.57 billion, up from CNY 2.23 billion, reflecting a growth of 15.6% year-over-year[190] Assets and Liabilities - The total assets at the end of 2015 were CNY 38.78 billion, a decrease of 3.09% from CNY 40.01 billion at the end of 2014[18] - The company's total assets as of the end of 2015 were CNY 38.777 billion, a decrease of 3.09% year-on-year[28] - The company's total assets at the end of 2015 were 38.777 billion RMB, a year-on-year decrease of 3.09%, while total liabilities decreased by 14.53% to 18.869 billion RMB[32] - Total assets decreased from ¥40,014,310,429.14 to ¥38,776,812,402.51, a decline of approximately 3.1%[180] - Total liabilities decreased from ¥22,075,884,466.46 to ¥18,869,082,095.95, a decline of about 14.4%[181] - Total equity increased from ¥17,938,425,962.68 to ¥19,907,730,306.56, an increase of approximately 10.9%[181] Cash Flow - The cash flow from operating activities was CNY 4.28 billion, a decrease of 16.6% from CNY 5.13 billion in the previous year[193] - Total cash inflow from operating activities was CNY 11.70 billion, down 17.3% from CNY 14.15 billion in the previous year[193] - Cash flow from investing activities showed a net outflow of CNY 1.25 billion, worsening from a net outflow of CNY 869.47 million in the previous year[193] - The ending cash and cash equivalents balance was CNY 2.38 billion, down from CNY 3.35 billion at the beginning of the year[194] Dividends - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling CNY 923.46 million[2] - For 2015, the cash dividend remained at 2.00 RMB per 10 shares, with a total distribution of approximately 923.46 million RMB, accounting for 35.31% of the net profit attributable to shareholders[80] Operational Efficiency - The average utilization hours for power generation equipment in 2015 were 3,969 hours, a decrease of 349 hours year-on-year[24] - The company's total electricity generation was 40.015 billion kWh, a year-on-year decrease of 11.03%, and the average utilization hours of units reached 5,380 hours, down 186 hours from the previous year[32] - The company successfully reduced the average coal price by 76.39 RMB/ton, effectively offsetting revenue losses from decreased electricity volume and prices[29] Market and Policy Risks - The company will continue to face risks related to electricity market demand, coal supply, environmental policies, and safety production management in 2016[4] - The company is facing market risks due to the correlation between its profitability and economic cycles, which may affect electricity sales growth and profitability[72] - Policy risks related to electricity system reforms may impact the company's profitability model while also presenting development opportunities[72] Corporate Governance - The company has maintained independence from its controlling shareholder in business, personnel, assets, and financial aspects[153] - The governance structure of the company is compliant with relevant laws and regulations, ensuring effective decision-making and supervision[144] - The company has a clear and effective governance mechanism that balances power among its various bodies[145] Environmental Responsibility - The company maintained a pollution emission level significantly below national standards, achieving six consecutive years without environmental penalties[30] - The company has implemented significant pollution reduction measures, achieving a decrease in emissions of sulfur dioxide, nitrogen oxides, and particulate matter by 0.085 g, 0.119 g, and 0.026 g per unit of electricity generated compared to the previous year[105] - The company has not experienced any environmental pollution incidents during the year and has adhered to national and local environmental standards[105] Future Outlook - The company expects to maintain good profitability in 2016 due to stable electricity demand and low coal prices[49] - The company anticipates continued growth in revenue and asset scale in 2016 due to the operation of quality power generation projects[69] - The company is focused on becoming a leading power listed company in China by improving economic efficiency and ensuring power safety[70]