LEP(SH:600644)2018-04-12 16:00Financial Performance - In 2017, the company's operating revenue was CNY 2,058,912,586.17, representing an increase of 8.05% compared to CNY 1,905,600,653.05 in 2016[19] - The net profit attributable to shareholders of the listed company for 2017 was CNY 42,856,263.30, a decrease of 79.73% from CNY 211,471,966.05 in 2016[19] - The net profit after deducting non-recurring gains and losses increased by 67.44% to CNY 120,495,711.54 in 2017 from CNY 71,962,243.64 in 2016[19] - The cash flow from operating activities for 2017 was CNY 236,940,085.48, down 31.49% from CNY 345,847,025.90 in 2016[19] - Basic earnings per share decreased by 79.73% to CNY 0.0796 from CNY 0.3928 in 2016[21] - The weighted average return on equity dropped by 15.51 percentage points to 3.44% from 18.95% in 2016[21] - Total operating revenue for Q4 2017 was CNY 576,443,454.45, with a net profit attributable to shareholders of CNY -60,557,165.70[22] - The net cash flow from operating activities for Q1 2017 was CNY -74,661,244.00, indicating cash outflow[22] - Non-recurring losses totaled CNY -77,639,448.24 in 2017, compared to CNY 139,509,722.41 in 2016[23] Assets and Liabilities - The total assets of the company at the end of 2017 were CNY 2,984,772,594.54, an increase of 17.52% from CNY 2,539,720,325.54 at the end of 2016[19] - The net assets attributable to shareholders of the listed company increased by 4.36% to CNY 1,274,686,707.98 at the end of 2017 from CNY 1,221,430,592.63 at the end of 2016[19] - The company’s total liabilities increased by 2,562.08% to ¥103,051,478.76, primarily due to provisions for litigation-related liabilities[53] - The company’s total assets at the end of the reporting period were significantly impacted by a 205.09% increase in other receivables, totaling ¥84,965,094.25, due to project-related transactions[53] Governance and Compliance - The company emphasizes a strong governance structure to mitigate risks and promote sustainable development[28] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7] - The company has not provided any guarantees in violation of regulatory decision-making procedures[7] - The company has not engaged in any external guarantees during the reporting period, adhering strictly to relevant regulations[105] - The independent directors approved the 2017 profit distribution plan, confirming that the process adhered to legal and regulatory requirements[111] - The company has maintained a consistent approach to profit distribution, with no dividends paid in 2015, 2016, or 2017[112] - The company has committed to adhere to new accounting standards effective from May 28, 2017, and June 12, 2017, which will not affect the operating results for the reporting period[116] Market and Business Development - The company serves 442,000 electricity users, with a surplus of electricity available for sale to the Sichuan Power Company[27] - The natural gas business has 308,000 users, supported by over 700 kilometers of pipelines[28] - The water supply business has a production capacity of 140,000 cubic meters per day, serving 186,700 users[28] - The company signed strategic cooperation agreements with multiple local governments to expand market share and stabilize performance growth[33] - The company actively participated in electricity system reforms, becoming one of the first 21 registered electricity sales companies in the province[33] - The company is focusing on enhancing management efficiency and safety, with a commitment to improving operational quality and effectiveness[32] - The company is exploring environmental business opportunities, successfully undertaking 18 sewage treatment projects in collaboration with other environmental firms[35] Investment and Projects - The company has invested a total of 2.41288641 billion CNY in Sichuan Shengtian New Energy Co., Ltd., holding a 21.60% stake, with a cumulative installed capacity of 231.2 MW for photovoltaic power stations[37] - The company completed the construction of the first water plant's source relocation project in just 56 days, showcasing efficient project execution[35] - The company plans to invest significantly in infrastructure projects, including the construction of the Fourth Water Plant and upgrades to the electricity and gas supply networks, to improve supply quality[100] Social Responsibility and Community Engagement - The poverty incidence rate in Xingxing Village decreased to 0.53%, with 56 out of 57 registered poor households exiting poverty from 2015 to 2017[141] - In 2017, the company donated 1.157549 million yuan for infrastructure, water supply, and industry development projects in Xingxing Village[141] - A total of 54 households received housing upgrades in 2017, and 15 households were provided with 5,000 yuan each for facility improvements[142] - The company established a cooperative for planting and breeding, with 101 households participating, including all 57 registered poor households[143] - Total funding for poverty alleviation reached CNY 106.6549 million, with 178 individuals lifted out of poverty[145] Future Outlook - The company anticipates a 6.7% economic growth in 2018, with a CPI increase of 2.0% and a PPI growth of 5.2%[70] - The company expects an annual growth rate of over 8.5% in electricity sales during the 13th Five-Year Plan period, excluding factors from mergers and acquisitions[74] - The company aims to achieve a power generation capacity exceeding 600,000 kW by 2020, with a target electricity sales volume of 3.55 billion kWh, representing an average annual growth rate of 9.14% during the 13th Five-Year Plan period[86] - The company plans to enhance its integrated energy services by leveraging technologies such as the Internet of Things and big data, focusing on customized solutions for clients[93] Shareholder Information - The total number of ordinary shares increased to 538,400,659, with 211,920,528 shares being newly issued[152] - The largest shareholder, holding 19.24% of the company, is now named Leshan State-owned Assets Investment Operation (Group) Co., Ltd.[154] - The total number of ordinary shareholders at the end of the reporting period was 30,512, down from 32,307 in the previous month[157] - The top ten shareholders held a total of 103,608,320 shares, representing 19.24% of the total shares[159] Management and Workforce - The company has a total of 1,162 retired employees for whom it bears costs[177] - The company has a diverse workforce with 2,275 production personnel, 304 sales personnel, and 428 technical personnel[177] - The company conducted training for approximately 3,846 personnel during the year, utilizing training funds of about CNY 3.21 million[179] - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to CNY 499.86 million[175]