YNHC(SZ:001896)2025-04-11 14:10Financial Performance - The company's operating revenue for 2024 was ¥12,155,484,842.59, representing a 1.43% increase compared to ¥11,984,488,226.01 in 2023[20]. - The net loss attributable to shareholders decreased by 78.07% to ¥121,404,740.96 in 2024 from ¥553,539,210.79 in 2023[20]. - The net cash flow from operating activities significantly improved to ¥2,369,346,715.38, a 214.51% increase from ¥753,346,928.26 in 2023[20]. - The basic earnings per share improved by 78.06% to -¥0.0796 in 2024 from -¥0.3628 in 2023[20]. - Total assets at the end of 2024 were ¥31,617,199,491.18, a slight decrease of 0.11% from ¥31,650,727,614.85 at the end of 2023[20]. - The company reported a significant reduction in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to -¥163,644,089.47 in 2024, down 75.45% from -¥666,458,760.04 in 2023[20]. - The total operating revenue for 2024 reached ¥12,155,484,842.59, representing a year-on-year increase of 1.43% compared to ¥11,984,488,226.01 in 2023[46]. - The revenue from thermal power generation and heating accounted for 89.34% of total revenue, amounting to ¥10,860,200,371.62, with a year-on-year growth of 2.18%[46]. - The sales volume of coal trading increased by 30.69% year-on-year, reaching 81.07 million tons, attributed to enhanced market expansion efforts and new customer acquisition[49]. - The company achieved a gross margin of 7.45% in thermal power generation and heating, which is an increase of 5.06% compared to the previous year[48]. Corporate Governance - The board of directors confirmed that all members attended the meeting to review the annual report, ensuring accountability for the report's accuracy[3]. - The company emphasizes that forward-looking statements do not constitute substantial commitments to investors, highlighting the need for risk awareness[3]. - The report indicates that the company is focused on maintaining transparency and compliance with regulatory requirements[3]. - The company is committed to ensuring the completeness and accuracy of its financial disclosures to stakeholders[3]. - The company has established a remuneration management system to determine the salaries of its personnel based on their performance and responsibilities[122]. - The board of directors held a total of 20 meetings during the reporting period, with significant resolutions including the appointment of a new general manager and the establishment of a joint venture with Henan Investment Group[124][125][126]. - The company’s independent directors actively participated in decision-making, ensuring the interests of minority shareholders were considered[129]. - The board's audit committee reported on the performance of the annual auditing firm, emphasizing the importance of oversight in financial reporting[130]. - The company has established a clear separation from its controlling shareholders in labor, personnel, and salary management, ensuring all senior management are company employees[98]. - The company has independent bank accounts and tax obligations, reinforcing its financial independence[98]. Environmental Compliance - The company adheres to multiple environmental protection laws and standards, including the Air Pollution Prevention and Control Law and the Water Pollution Prevention and Control Law[147]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[147]. - The company has implemented measures to ensure compliance with emission standards for air pollutants, noise, and wastewater[148]. - The total emissions of air pollutants from Duck River Power Plant amounted to 224.25 tons, a year-on-year decrease of 79.95 tons[152]. - The company achieved a 100% compliance rate for environmental standards, with a desulfurization facility operational rate of 100% and a sulfur dioxide removal efficiency of 99.39%[166]. - The company has not experienced any significant environmental incidents in 2024[166]. - The company received the "Green Low-Carbon Technology Innovation Award" and was recognized as an "Outstanding Executive Unit" by the Henan Provincial Environmental Protection Association[165]. Strategic Development - The company aims to enhance its energy service capabilities by providing comprehensive energy solutions to industrial parks and energy-consuming enterprises[38]. - The company is actively pursuing integrated coal and electricity business models, with significant projects underway, including a 1,300 MW pumped storage project and various wind power projects[37]. - The company plans to strengthen cooperation with resource-rich regions in Northwest China to build an integrated comprehensive energy base[43]. - The company is focusing on new energy projects such as wind power, photovoltaics, and pumped storage, aiming to enhance project development and resource acquisition[82][83]. - The company aims to become a "first-class comprehensive energy enterprise" as part of its future development strategy, focusing on the "30·60" dual carbon goals[77]. Management Changes - The company has experienced changes in its board of directors, with Zhao Shuying resigning as chairman on May 30, 2024[104]. - The company has appointed a new general manager, Li Jun, effective May 31, 2024, following the resignation of the previous general manager, Yu Dezhong[104]. - The company is undergoing significant management changes, with multiple executives being reassigned or appointed in early 2024[105]. - The current Chairman, Yu Dezhong, has extensive experience in the energy sector, having held various leadership roles since 1989[107]. - General Manager Li Jun has a strong background in engineering and management, with previous roles in several power generation companies[108]. Investment and Financial Strategy - The company reported a total distributable profit of 0.00 yuan, with no cash dividends proposed for the 2024 fiscal year due to negative distributable profits at the end of the reporting period[137]. - The company has not engaged in any securities or derivative investments during the reporting period[70][71]. - The company has not sold any major assets or equity during the reporting period[73][74]. - The company will continue to use the borrowing limit from the investment group for related party transactions, as approved in the second temporary shareholder meeting[101]. - The company has a total registered capital of 2,000 million for its New Energy Company, which is focused on power generation and sales[75]. Community Engagement - The company actively participates in community service activities, including volunteer work and environmental clean-up initiatives[172]. - The company has engaged in poverty alleviation and rural revitalization efforts, including the deployment of village secretaries to assist specific villages[173]. - A total of 167.48 million yuan was spent on purchasing agricultural products throughout the year to support local farmers[173]. - The company raised over 20,000 yuan to support more than 70 impoverished households and helped sell over 240,000 yuan worth of unsold agricultural products[173]. Research and Development - Research and development expenses increased by 23.77% to ¥3,491,088.37 compared to the previous year[56]. - R&D investment increased by 46.98% from ¥4,441,217.93 to ¥6,527,843.47[59]. - The proportion of R&D investment capitalized rose from 36.49% to 46.52%[59]. - The company has a total of 4 PhD holders and 163 graduate degree holders among its employees[134]. Related Party Transactions - The company engaged in related party transactions, including procurement of equipment and parts from Henan Investment Group, amounting to 1.9321 million RMB, which is 0.50% of similar transactions[192]. - The company has a payable to Henan Investment Group of 16 million yuan, which has increased financial expenses[199].