GED(SZ:000539)2015-04-17 16:00Dividend Distribution - The company plans to distribute a cash dividend of 2.00 CNY (including tax) for every 10 shares, along with a stock bonus of 2 shares for every 10 shares held[4]. - The total share capital is 4,375,236,655 shares, which serves as the basis for the dividend distribution[4]. - The company distributed a cash dividend of 2.00 CNY per 10 shares to A-share and B-share shareholders, totaling 875,047,331 CNY for the year 2014, which represents 29.13% of the net profit attributable to shareholders[80]. - The total cash dividend for 2013 was also 875,047,331 CNY, accounting for 28.35% of the net profit attributable to shareholders[80]. - In 2012, the company distributed a total of 306,266,565.85 CNY in cash dividends, which was 18.03% of the net profit attributable to shareholders[80]. - The company has a cash dividend policy that mandates a minimum of 20% of profit distribution in cash during profit allocation[80]. - The total distributable profit for 2014 was 3,338,873,415 CNY, with cash dividends accounting for 50% of the total profit distribution[80]. Financial Performance - The company's operating revenue for 2014 was CNY 29.05 billion, a decrease of 5.79% compared to 2013[21]. - The net profit attributable to shareholders for 2014 was CNY 3.00 billion, down 2.67% from the previous year[21]. - The net cash flow from operating activities decreased by 13.56% to CNY 8.39 billion in 2014[21]. - The total assets at the end of 2014 were CNY 69.08 billion, an increase of 1.72% from the end of 2013[21]. - The net assets attributable to shareholders increased by 11.83% to CNY 21.31 billion at the end of 2014[21]. - The company's electricity generation in 2014 was 68.90 billion kWh, a decrease of 4.2% compared to 2013[32]. - The company achieved a net profit margin of approximately 10.35% in 2014[33]. - The average utilization hours for coal power units decreased from 5085 hours to 4525 hours in 2014[32]. - The company completed 98.11% of its annual online electricity generation plan[32]. - The company faced a 31.13% increase in external electricity purchases, totaling 158.60 billion kWh in 2014[32]. - The company achieved a total operating revenue of 2,904,657,000 CNY in 2014, with main business revenue of 2,883,408,000 CNY, reflecting a decrease of 5.79% compared to the previous year[37]. - The actual electricity sales volume was 648.66 billion kWh, which is a 4.20% decrease from 677.11 billion kWh in 2013[37]. - The company completed 98.11% of its planned electricity generation for the year, with a target of 661.16 billion kWh[35]. - The gross profit margin for the main business was 27.60%, an increase of 1.51 percentage points compared to the previous year[37]. - The company’s cash flow from operating activities decreased by 13.56% to 8,392,794,644 CNY, primarily due to a reduction in electricity sales revenue[44]. - The company has a market share of 12.78% in the electricity sector, down from 14.45% in the previous year[37]. - The company’s fuel costs accounted for 67.35% of total operating costs, a decrease from 70.63% in 2013[39]. Corporate Governance - The company emphasizes the importance of accurate financial reporting and the responsibility of its management to ensure the integrity of the annual report[3]. - The company’s financial statements are audited by KPMG Huazhen LLP, ensuring compliance and accuracy in financial reporting[19]. - The company has established a comprehensive internal control system covering financial management, investment management, information disclosure, and related party transactions, ensuring compliance with relevant regulations[143]. - The company has an independent financial department and a complete accounting system to ensure accurate financial reporting[153]. - The company has a structured salary system for its directors, supervisors, and senior management, which includes labor remuneration and employee benefits[134]. - The company has independent directors and supervisors who receive allowances according to the standards approved by the shareholders' meeting[134]. - The company has established a system for accountability regarding significant errors in annual report disclosures, with no major errors reported during the period[164]. - The company has made various announcements regarding changes in management and financial matters, including a capital reduction for Guangdong Yuedian Co., Ltd.[98]. - The company has engaged KPMG Huazhen LLP for internal control audit services, with total fees amounting to RMB 1.905 million for the reporting period[97]. - The company has a well-defined compensation management system for senior management based on performance evaluations[156]. - The company has established a strong governance structure with independent directors and supervisors overseeing its operations[134]. - The company is committed to transparency and accountability in its financial reporting and corporate governance practices[126]. Market Position and Strategy - The main business of the company is thermal power generation, which is significantly influenced by electricity demand and fuel prices[12]. - The company is committed to addressing risks associated with its operations, particularly those related to market demand and fuel costs[12]. - The company plans to enhance its energy structure by investing in large-capacity, high-parameter advanced units and expanding into clean energy sectors such as wind and natural gas[34]. - The company is focused on expanding its market presence and enhancing operational efficiency through strategic initiatives[126]. - Future outlook includes potential growth driven by advancements in technology and new product development in the energy sector[126]. - The company is exploring opportunities for mergers and acquisitions to enhance its market position and capabilities[126]. - The company has diversified its energy structure, including coal, LNG, wind, and hydroelectric power projects, enhancing its competitive edge in the market[53]. - The company has prioritized the acquisition of domestic power projects and assets from its parent company, Guangdong Electric Group[96]. - The company plans to explore new technologies and products to enhance its market position in the energy sector[66]. - The future development strategy emphasizes energy as the core, with plans for national and international market expansion[115]. Shareholder Information - The total number of shares is 4,375,236,655, with 36.16% being limited shares and 63.84% being unrestricted shares[106]. - The state-owned legal person holds 1,577,865,257 shares, accounting for 36.06% of total shares, with an increase of 39,870 shares during the reporting period[106]. - The largest shareholder, Guangdong Provincial Electric Power Group Co., Ltd., holds 67.39% of the shares, totaling 2,948,337,737 shares[113]. - The company has a total of 110,384 common stock shareholders at the end of the reporting period[112]. - The total number of shares held by the top 10 shareholders includes 1,370,472,480 unrestricted shares held by the largest shareholder[113]. - The company’s stock structure remains stable with no significant changes in the shareholder composition during the reporting period[111]. - The company has not undergone any changes in controlling shareholders during the reporting period[117]. - There were no repurchase transactions conducted by the top 10 shareholders during the reporting period[114]. - The company has not issued any preferred shares during the reporting period[119]. - The company has not implemented any share buyback plans during the reporting period[117]. Employee Information - The company employed a total of 6,691 staff across its parent company and major subsidiaries[139]. - The majority of employees (4,292) are production personnel, representing approximately 64% of the workforce[140]. - The company has 1,322 technical personnel, accounting for about 20% of the total workforce[140]. - There are 214 employees with a master's degree, making up approximately 3% of the workforce[140]. - The age group of 41-50 years comprises 2,767 employees, which is about 41% of the total workforce[140]. - The company has appointed new directors and independent directors as part of its board restructuring on May 20, 2014[138]. - The company has a total of 692 employees aged 51 and above, representing about 10% of the workforce[140]. Risk Management - The company is committed to addressing risks associated with its operations, particularly those related to market demand and fuel costs[12]. - The company has implemented an insider information management system to prevent insider trading and ensure confidentiality[143]. - The company has not identified any risks during the supervisory activities conducted by the supervisory board in the reporting period[152]. - The internal control evaluation report indicates no significant deficiencies in financial reporting controls as of the evaluation date[162]. Audit and Compliance - The company received a standard unqualified audit opinion from KPMG for its financial statements as of December 31, 2014[167]. - The financial statements fairly reflect the company's financial position and results of operations for the year ended December 31, 2014[172]. - The company has effectively reduced potential competition with its controlling shareholder through significant asset restructuring, with a commitment to eliminate competition by injecting quality assets into the listed company[155].