电投能源(002128) - 2015 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2015 was ¥5,586,650,712.23, a decrease of 10.67% compared to ¥6,253,884,064.37 in 2014[15]. - The net profit attributable to shareholders was ¥533,844,485.14, down 11.29% from ¥625,316,350.34 in the previous year[15]. - The net profit after deducting non-recurring gains and losses increased by 39.44% to ¥546,489,853.14 from ¥415,435,881.07 in 2014[15]. - The total profit for 2015 was ¥637,890,000, a decrease of 10.57% compared to the previous year[26]. - The company reported a total revenue of 11.49 billion CNY for the year 2015, reflecting a significant increase compared to the previous year[115]. - The net profit for the year was 300 million CNY, which is a 15% increase compared to the previous year[153]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 1,634,378,473 shares[4]. - The cash dividend for 2015 represents 100% of the profit distribution total, indicating a strong commitment to returning value to shareholders[94]. - The cumulative distributable profit at the end of 2015 was ¥4,342,413,101.41, reflecting a healthy financial position[94]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares, totaling approximately 163.44 million yuan, subject to shareholder approval[91]. Market Conditions - The coal market is expected to continue facing downward pressure with supply exceeding demand, leading to potential declines in operating performance for the coal business[4]. - The company’s electricity business may be further impacted by economic slowdown, overcapacity, and environmental regulations[4]. - The coal market in 2016 is expected to face significant supply-demand imbalances, with pressures from both domestic production and high levels of imported coal[77]. - The company faces risks from national policies aimed at reducing coal consumption and promoting clean energy, which may impact future growth[83]. Operational Highlights - The company produced and acquired 46.66 million tons of raw coal in 2015, an increase of 1.41% year-on-year[26]. - The actual sales of raw coal reached 46.60 million tons, up 1.26% from the previous year[26]. - The actual electricity generation was 524,264.2 million kWh, a decrease of 1.36% from the previous year[26]. - The company has maintained its main business operations in coal and electricity since the acquisition of Tongliao Hohhot Power Co., Ltd. in 2014[14]. Financial Position - The total assets at the end of 2015 were ¥14,079,989,995.00, an increase of 0.48% from ¥13,935,771,127.81 at the end of 2014[15]. - The net assets attributable to shareholders increased by 4.62% to ¥8,828,388,981.44 from ¥8,381,148,527.43 in 2014[15]. - Cash and cash equivalents increased by CNY 27,253 million compared to the previous year, reflecting a positive cash flow situation[42]. - The company’s cash and cash equivalents reached CNY 1,186,617,439.43, compared to CNY 697,038,775.06 at the beginning of the year, reflecting a significant increase of 70.3%[198]. Cost Management - The company’s operating costs decreased by 15.07% year-on-year, attributed to the reduction in resource tax and lower material prices[42]. - The company reported a decrease in raw material costs for coal by 18.43%, while labor costs increased by 3.35%[53]. - The total operating cost decreased by 15.07% to approximately ¥396.11 million, with the main business cost dropping by 15.01%[52]. Strategic Initiatives - The company invested in new energy projects, including a 20MW distributed photovoltaic power generation project, which has been fully connected to the grid[39]. - The company is actively pursuing the development of new energy projects, which is expected to contribute positively to future revenue streams[73]. - The company is exploring potential acquisitions in the renewable energy sector to diversify its portfolio and reduce carbon footprint[115]. Governance and Compliance - The company’s board of directors confirmed the accuracy and completeness of the annual report, taking legal responsibility for any misstatements or omissions[3]. - The company has maintained a good track record in fulfilling its commitments, with no outstanding obligations as of the reporting period[95]. - The company has a governance structure that complies with relevant laws and regulations, ensuring proper operation and management[167]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the ticker code 002128[11]. - The total number of ordinary shareholders at the end of the reporting period was 50,781[137]. - The largest shareholder, China Power Investment Corporation, retained 46,153,847 restricted shares, which remains unchanged[136]. Employee and Management - The total number of employees in the company is 4,485, with 3,300 in the parent company and 1,185 in major subsidiaries[161]. - The total pre-tax remuneration for senior management during the reporting period amounted to 405.53 million yuan[160]. - The company has established a performance evaluation system to determine the remuneration of senior management based on their performance[163]. Audit and Internal Controls - The audit committee confirmed the overall effectiveness of the company's internal controls in 2015, issuing a self-evaluation report stating that there were no significant deficiencies found[184]. - The internal control evaluation report indicated that 100% of the company's total assets and operating income were included in the evaluation scope[187]. - The audit opinion confirmed that the financial statements fairly represent the company's financial position as of December 31, 2015, in all material respects[195].