DHEP(SH:600744)2014-03-26 16:00Financial Performance - The company's operating revenue for 2013 was CNY 7,455,520,257.12, a decrease of 7.99% compared to CNY 8,102,646,211.12 in 2012[18] - The net profit attributable to shareholders of the listed company was CNY 10,696,795.78, down 89.15% from CNY 98,598,350.59 in the previous year[18] - The basic earnings per share for 2013 was CNY 0.02, representing an 85.71% decrease from CNY 0.14 in 2012[20] - The company reported a net loss of CNY 93,124,805.33 after deducting non-recurring gains and losses, compared to a loss of CNY 386,497,111.08 in 2012[18] - The company reported a significant increase in revenue, achieving a total of 10 billion yuan, representing a 15% year-over-year growth[82] - The total profit for the current period is CNY 26,020,935.80, compared to CNY 145,992,634.43 in the previous period, reflecting a decline of approximately 82.2%[126] - The company reported a net profit for the current period is CNY 6,133,140.90, a significant decrease from CNY 119,696,082.29 in the previous period, representing a decline of approximately 94.9%[126] Cash Flow and Assets - The net cash flow from operating activities increased by 12.68% to CNY 1,431,047,102.59 from CNY 1,270,054,913.59 in 2012[18] - The company's cash and cash equivalents increased by 121 million CNY, primarily due to a reduction in fuel prepayments and a central government subsidy of 66 million CNY for eliminating outdated production capacity[35] - The company reported a significant increase in cash and cash equivalents, reaching approximately ¥489.09 million at the end of 2013, up from ¥367.63 million at the beginning of the year, representing a growth of about 33.0%[118] - The company's total current assets decreased to approximately ¥3.75 billion from ¥3.98 billion, reflecting a decline of about 5.9%[118] - The total cash inflow from financing activities was CNY 4,368,389,043.10, an increase of 27.5% from CNY 3,243,000,000.00 in the prior year[134] Liabilities and Equity - The total liabilities increased, with long-term borrowings accounting for 43.74% of total liabilities, reflecting a 5.74% increase from the previous period[36] - The company's total liabilities amounted to 14.584 billion RMB, indicating a significant leverage position[26] - The total liabilities at the end of the period are CNY 1,332,083,798.67, which is an increase from CNY 1,206,181,912.00 in the previous year, reflecting a rise of approximately 10.4%[138] - The company's equity attributable to shareholders was CNY 1,451,138,565.15, a slight increase from CNY 1,440,441,769.37[121] Operational Highlights - In 2013, the company achieved a total power generation of 10.639 billion kWh, representing a year-on-year increase of 11.45%[25] - Power sales revenue reached 4.3 billion RMB, an increase of 11.79% year-on-year, driven by an increase in grid electricity volume[25] - The company experienced a decrease in coal sales revenue by 16.84%, totaling 2.755 billion RMB due to lower sales prices and volumes[27] - The company completed a total power generation of 11.2 billion kWh in 2014, with a coal consumption rate of 319.58 grams per kWh[42] Investments and Projects - The company is currently constructing projects with a total investment of CNY 667,131.23 million, including the Zhuzhou Youxian Power Plant project with an investment of CNY 569,745.00 million[40] - The company is actively promoting the development of new energy projects to cultivate new profit growth points[43] - The company is considering strategic acquisitions to enhance its portfolio, with a budget of 2 billion yuan allocated for potential mergers and acquisitions[84] Governance and Compliance - The company has maintained a standard unqualified audit report from Tianzhi International Accounting Firm[3] - The current auditor, Tianzhi International Accounting Firm, has been retained for nine years, with an audit fee of CNY 980,000[62] - The company has not engaged in any major litigation, arbitration, or media controversies during the reporting period[59] - The company has established internal control systems for all business areas and matters, achieving its internal control objectives without major deficiencies[108] Shareholder Structure - The largest shareholder, China Datang Group Company, holds 33.34% of shares, totaling 237,263,477 shares, with no pledged or frozen shares[67] - The total number of shareholders at the end of the reporting period is 89,810, an increase from 88,007 prior to the annual report disclosure[67] - The shareholder structure remains stable with no significant changes reported in the asset and liability structure[68] Employee and Management - The total number of employees in the parent company is 2,263, while the main subsidiaries have 2,536 employees, resulting in a total of 4,799 employees[89] - The company plans to enhance training programs focusing on leadership, technical skills, and operational capabilities to improve employee performance[91] - The average age of the board members is approximately 53 years, indicating a mature leadership team[78] Environmental and Social Responsibility - The company invested approximately CNY 130 million in environmental protection projects, including the renovation of the flue gas denitrification system and low-nitrogen burners, significantly reducing nitrogen oxides and sulfur dioxide emissions to below 200 mg/m³[55] - The company is committed to environmental sustainability through its subsidiaries focused on waste management and renewable energy generation[192] - The company aims to maintain safety production without major accidents and to adapt to the changing economic environment[41]