长源电力(000966) - 2015 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2015 was ¥6,121,266,713.79, a decrease of 7.19% compared to ¥6,595,822,150.68 in 2014[6]. - Net profit attributable to shareholders was ¥952,238,801.64, an increase of 37.96% from ¥690,252,022.91 in the previous year[6]. - The net profit after deducting non-recurring gains and losses was ¥794,452,628.89, reflecting a 15.18% increase from ¥689,768,671.72 in 2014[6]. - The net cash flow from operating activities increased by 32.53% to ¥2,763,492,122.26, compared to ¥2,085,198,399.79 in 2014[6]. - The company's weighted average return on equity was 34.54%, slightly up from 34.30% in the previous year[6]. - The company achieved a net profit of 67,360.38 million yuan in 2015, resulting in a cumulative distributable profit of 43,267.05 million yuan after accounting for previous losses[89]. - The cash dividend for 2015 is 144,076,930.40 yuan, which is 15.13% of the net profit attributable to shareholders in the consolidated financial statements[91]. - The company's total investment during the reporting period was ¥316,374,136.68, a decrease of 44.73% compared to the previous year[56]. Market and Operational Strategy - The company has outlined a strategic focus on expanding its market presence, particularly in renewable energy sectors, aiming for a Z% increase in renewable energy capacity by 2020[11]. - The company plans to face challenges in the power industry due to expected low growth in electricity consumption and reduced profitability in coal-fired power generation[27]. - The company plans to continue focusing on cost control and efficiency improvements in response to the challenging market conditions[36]. - The company aims to achieve a power generation target of 137.64 billion kilowatt-hours in 2016, with a heat sales target of 5.16 million gigajoules[75]. - The company intends to invest in 50,000 kW of wind power generation in 2016 and explore biomass power generation technology applications[81]. - The company will strive to increase the proportion of non-hydropower renewable energy, currently at 1.65%, by developing wind and biomass energy projects[80]. Renewable Energy Development - The company has completed the construction of 25 wind turbines in its subsidiary's project, with further projects in the pipeline, indicating a focus on renewable energy development[30]. - The company reported a significant increase in power generation, with total electricity output reaching X million kWh, reflecting a Y% growth compared to the previous year[11]. - The company aims to improve its competitive capabilities by transitioning its marketing approach to a more service-oriented model[78]. - The company plans to complete ultra-low emission retrofitting for specific units in 2016 to meet environmental standards[80]. Financial Position and Assets - The company reported a total asset of CNY 9,582,023,862.32 as of December 31, 2015, down from CNY 10,392,579,503.81 at the beginning of the year, representing a decrease of approximately 7.8%[194]. - The company's total liabilities decreased from CNY 7,863,056,705.19 to CNY 6,142,060,578.45, a reduction of about 21.9%[196]. - The company's cash and cash equivalents increased to CNY 90,068,018.64 from CNY 51,371,617.69, marking an increase of approximately 75.2%[194]. - The accounts receivable rose to CNY 716,904,930.98 from CNY 562,685,113.62, reflecting an increase of about 27.4%[194]. - The company's inventory decreased significantly from CNY 469,819,987.09 to CNY 217,720,243.70, a decline of approximately 53.7%[194]. Shareholder and Governance - The company has established a clear cash dividend policy that aligns with its articles of association and shareholder resolutions[87]. - The company has committed to not reducing its shareholding in the company until December 31, 2016, as part of its commitment to minority shareholders[93]. - The company has engaged Zhongzheng Zhonghuan Accounting Firm for auditing services, with a total fee of 1.17 million yuan for the year[99]. - The company has maintained effective internal controls over financial reporting as of December 31, 2015, according to the internal control audit report[186]. - The company has ensured compliance with corporate governance regulations, maintaining the rights of minority shareholders[172]. Employee and Management Structure - The total number of employees in the company is 3,757, with 2,580 in production roles and 132 in technical positions[166]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 533.85 million yuan[165]. - The company has established a salary policy based on its own management regulations[168]. - The company has implemented a training program for various personnel, aligning with annual training outlines[170]. - The company has maintained a stable management team with no new appointments or significant changes in the reporting period[155]. Environmental Compliance - The company has implemented measures to ensure compliance with environmental regulations, with no reported pollution incidents during the reporting period[135]. - The company achieved a total sulfur removal of 148,000 tons and nitrogen oxide removal of 21,400 tons during the reporting period[135]. - The company maintained a 100% operational rate for desulfurization facilities and a 99.7% operational rate for denitrification facilities[135].