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通宝能源(600780) - 2017 Q4 - 年度财报
TECTEC(SH:600780)2018-04-25 16:00

Financial Performance - In 2017, the company achieved operating revenue of ¥5,097,018,300.77, an increase of 4.35% compared to ¥4,884,503,200.52 in 2016[20] - The net profit attributable to shareholders was ¥81,830,625.10, representing a decrease of 19.76% from ¥101,984,894.73 in the previous year[20] - Basic earnings per share decreased to ¥0.0714, down 19.78% from ¥0.089 in 2016[21] - The weighted average return on equity was 1.72%, a decrease of 0.47 percentage points from 2.19% in the previous year[22] - The company achieved a total electricity generation of 4.797 billion kWh, an increase of 11.53% year-on-year, completing 123% of the annual budget[36] - The total electricity sales reached 7.579 billion kWh, up 10.28% year-on-year, achieving 110% of the annual budget[36] - The company's operating revenue was 5.097 billion yuan, a year-on-year increase of 4.35%[37] - The net profit attributable to shareholders was 0.082 billion yuan, a decrease of 19.76% compared to the previous year[43] - The company's total revenue for the year 2017 was CNY 5,097.0183 million[165] - The company reported a total comprehensive income of ¥77,944,953.73, compared to ¥71,156,252.70 in the previous year, an increase of 9.93%[186] Cash Flow and Investments - The net cash flow from operating activities was ¥931,793,063.67, down 18.19% from ¥1,138,926,002.05 in 2016[20] - The net cash flow from investment activities increased significantly by 100.20%, reaching RMB 6,559,136.90[46] - The net cash flow from financing activities decreased by 121.41%, totaling RMB -533,724,641.32[46] - The company's cash and cash equivalents decreased by 24.30% to ¥2,662,546,981.55, compared to ¥3,517,423,137.02 in the previous period[59] - The company reported a cash and cash equivalents balance of ¥2,138,381,802.64 million at the end of the period, up from ¥1,733,754,243.39 million at the beginning[192] - The company incurred asset impairment losses of ¥6,753,762.77 million, compared to ¥2,051,654.32 million in the previous period[189] - The net cash flow from investment activities was -22,399,699.39 RMB, a slight improvement from -23,981,643.87 RMB in the previous year[195] Assets and Liabilities - The total assets at the end of 2017 were ¥12,020,182,834.43, a slight decrease of 0.41% from ¥12,069,990,953.79 in 2016[20] - The company's net assets attributable to shareholders increased to ¥4,817,508,725.24, up 2.38% from ¥4,705,448,314.88 in 2016[20] - The total liabilities decreased from CNY 7,379,803,437.44 to CNY 7,222,050,364.35, a decrease of approximately 2.1%[180] - Total equity increased from CNY 4,690,187,516.35 to CNY 4,798,132,470.08, an increase of about 2.3%[180] - The book value of fixed assets was CNY 5,113.91 million, accounting for 43% of total consolidated assets, while the book value of construction in progress was CNY 2,565.94 million, accounting for 21% of total consolidated assets[169] Operational Efficiency and Strategy - The company operates in the electricity sector, focusing on thermal power generation and distribution, with a strong emphasis on cost control and efficiency optimization[29] - The company has completed all desulfurization and denitrification upgrades for its power generation units, meeting national environmental standards[30] - The company has achieved 82.2% of its substations operating without personnel, improving operational efficiency[34] - The company is focusing on optimizing its capital structure and enhancing cooperation with strategic partners to strengthen its core power business[38] - The company is committed to a "comprehensive energy" strategy, focusing on green, low-carbon, and efficient development[76] - The company plans to control operating costs within RMB 4.743 billion for 2018, indicating a focus on cost management[77] Environmental Compliance - The company completed the transformation of four units to meet national ultra-low emission standards, enhancing environmental compliance[34] - The company operates four 320MW units with ultra-low emission standards, achieving average emissions of 4.02 mg/m³ for dust, 12.04 mg/m³ for sulfur dioxide, and 24.96 mg/m³ for nitrogen oxides in 2017[117] - Total emissions for the year were 51.84 tons for dust, 200.66 tons for sulfur dioxide, and 845.67 tons for nitrogen oxides, well below the permitted limits of 986.501 tons, 6500 tons, and 6576.676 tons respectively[117] - The company has implemented desulfurization, denitrification, and dust removal facilities to meet environmental standards, with wastewater achieving zero discharge[117] Shareholder and Governance - The company did not distribute dividends or increase capital from retained earnings for 2017 due to ongoing high fuel costs and necessary investments in power grid construction and environmental upgrades[5] - The company has maintained a long-term commitment to avoid related party transactions that could harm the interests of shareholders[92] - The company has established a long-term mechanism for investor relations management, enhancing communication with investors[152] - The total remuneration for directors and senior management during the reporting period amounts to 1.95 million yuan[135] Market and Industry Outlook - The company expects a 5.5% growth in national electricity consumption for 2018, maintaining a stable growth trend from 2017[31] - The company faces challenges from high coal prices, which have significantly increased its fuel costs, impacting overall profitability[74] - The company plans to leverage capital market opportunities for financing and enhancing its competitive advantages in the power and coal industries[78] - The company aims to enhance its market position in Shanxi Province, covering 23,000 square kilometers, which constitutes 15% of the province's land area[72]