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通宝能源(600780) - 2016 Q4 - 年度财报
TECTEC(SH:600780)2017-03-30 16:00

Financial Performance - In 2016, the company reported a net profit of -3,308,949.15 RMB, resulting in a cumulative distributable profit of 57,328,692.78 RMB at year-end[2]. - The company's operating revenue decreased by 13.90% to 4,884,503,200.52 RMB compared to 2015[18]. - The net profit attributable to shareholders decreased by 72.43% to 101,984,894.73 RMB from 369,905,610.50 RMB in 2015[18]. - The basic earnings per share dropped by 72.41% to 0.089 RMB per share from 0.3226 RMB per share in 2015[19]. - The company's net assets attributable to shareholders decreased by 1.55% to 4,705,448,314.88 RMB compared to 4,779,741,519.18 RMB at the end of 2015[18]. - The diluted earnings per share decreased by 72.41% to CNY 0.089 compared to the previous year[20]. - The weighted average return on equity dropped by 5.88 percentage points to 2.19%[20]. - The total operating revenue for 2016 was 4.885 billion RMB, a decline of 13.90% year-on-year[49]. - The net profit attributable to the parent company was 102 million RMB, down 72.43% from the previous year[46]. - The total comprehensive income for the year was -3,658,849.44 RMB, compared to -22,788,865.25 RMB in the previous year, indicating a reduction in overall losses[179]. Assets and Liabilities - The total assets increased by 28.88% to 12,069,990,953.79 RMB compared to 9,365,273,187.34 RMB at the end of 2015[18]. - Long-term borrowings rose significantly to ¥4,513,470,000.00, an increase of 197.56% compared to the previous year[58]. - The company's monetary funds at the end of the period were ¥3,517,423,137.02, representing 29.15% of total assets, up from 14.78% in the previous year[58]. - Total liabilities increased to ¥7,379,803,437.44 from ¥4,529,043,229.65, reflecting a rise of around 63.5%[168]. - The company's equity attributable to shareholders decreased to ¥4,705,448,314.88 from ¥4,779,741,519.18, a decline of about 1.5%[168]. Cash Flow - The cash flow from operating activities increased by 1.70% to 1,138,926,002.05 RMB compared to 1,119,915,321.11 RMB in 2015[18]. - The net cash flow from operating activities was ¥113,892.60 million, reflecting a slight increase of 1.70% year-on-year[57]. - The company reported a net cash outflow from investing activities of -3,282,254,321.30 RMB, which is a larger outflow compared to -1,333,854,464.93 RMB in the previous year, reflecting increased investment expenditures[181]. - The company raised 3,663,210,000.00 RMB through borrowings, significantly higher than 1,688,850,000.00 RMB in the previous year, suggesting a strategy to enhance financial leverage[182]. Operational Highlights - The company completed the acquisition of 100% equity in Jineng Baode Coal Power Co., Ltd., which is currently in the infrastructure phase[2]. - The company completed the acquisition of 100% equity in Baode Coal Power, which is treated as a merger under common control[20]. - The company achieved a total power generation of 4.301 billion kWh and a sales volume of 6.873 billion kWh, with a revenue of 4.885 billion yuan and a net profit attributable to the parent company of 102 million yuan[40]. - The company completed the ultra-low emission transformation of all four units, meeting national environmental standards, and has implemented a high back pressure heating technology transformation on Unit 4, significantly improving heating capacity and reducing energy consumption[41]. - The company expects to add over 10 million kW of new installed capacity in 2017, with total installed capacity reaching approximately 1.75 billion kW by year-end, and the proportion of non-fossil energy generation capacity increasing to around 38%[33]. Market and Industry Challenges - The company faces risks related to the coal industry supply-side reform and overall oversupply in the thermal power sector[3]. - The company is focusing on enhancing operational management and cost control to mitigate the impact of declining electricity prices and demand, while also adhering to national environmental policies[41]. - The company is experiencing rising fuel costs while facing a decline in power generation, which is further exacerbated by the ongoing supply-side structural reforms in the coal industry[94]. - The electricity supply capacity in the country is expected to be generally surplus in 2017, with fire power utilization hours dropping to around 4,000 hours, leading to increased operational challenges[87]. Corporate Governance and Compliance - The company issued 4 regular reports and 32 temporary announcements throughout the year, enhancing transparency and investor communication[44]. - The company has maintained compliance with regulatory requirements, with no incidents of fund misappropriation, insider trading, or related party transactions reported during the period[150]. - The company has engaged Da Hua Accounting Firm for auditing services, with a remuneration of 61,000 yuan for the audit period[99]. - The company’s financial statements were prepared in accordance with accounting standards, reflecting its financial position and operating results accurately[164]. Social Responsibility and Community Engagement - The company is actively participating in poverty alleviation efforts, focusing on precise poverty alleviation strategies in line with government directives[110]. - A total of RMB 209.2 million was allocated for poverty alleviation efforts, with RMB 191.46 million specifically invested in industrial development projects[113]. - The company completed the construction of four village-level centralized photovoltaic power stations and connected 192 rooftop photovoltaic systems to the grid, benefiting 115 impoverished households[111]. - Eight impoverished students received financial assistance totaling RMB 1.2 million for their education[113]. Shareholder Information - The total number of ordinary shareholders decreased from 49,447 to 48,538 during the reporting period[120]. - The largest shareholder, Shanxi International Power Group Co., Ltd., holds 60.46% of the shares, totaling 693,174,819 shares[122]. - The company reported no changes in controlling shareholders during the reporting period[126]. - The total amount of profit distribution to shareholders was CNY 171,975,378.45, indicating a significant allocation of profits[190].