AAA PUBLIC(SH:600979)2025-04-29 16:30Financial Performance - The company's operating revenue for 2024 reached ¥3,214,641,144.79, representing a 13.68% increase compared to ¥2,827,845,131.92 in 2023[23]. - Net profit attributable to shareholders for 2024 was ¥235,731,377.54, a 3.99% increase from ¥226,691,675.96 in 2023[23]. - The net profit after deducting non-recurring gains and losses was ¥189,815,225.44, showing a slight decrease of 1.92% from ¥193,530,052.56 in 2023[23]. - The company's total assets increased by 5.09% to ¥11,383,215,736.10 at the end of 2024, up from ¥10,831,375,831.70 in 2023[24]. - The net assets attributable to shareholders rose by 3.90% to ¥4,566,438,106.75 at the end of 2024, compared to ¥4,395,059,137.20 in 2023[24]. - Basic earnings per share for 2024 were ¥0.1913, a 3.97% increase from ¥0.1840 in 2023[25]. - The cash flow from operating activities for 2024 was ¥468,616,948.27, down 31.20% from ¥681,110,647.22 in 2023[23]. - In the fourth quarter of 2024, the company reported a net profit attributable to shareholders of -¥4,504,070.06, contrasting with profits in the previous three quarters[27]. - The company recorded non-recurring gains of ¥30,857,645.52 from government subsidies closely related to its normal business operations in 2024[29]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.57 RMB per 10 shares, totaling 71,914,448.66 RMB for the current year[4]. - The total share capital of the company is 1,261,656,994 shares[4]. - The company does not plan to increase capital reserves through stock issuance this year[4]. - The cash dividend amount represents 30.51% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is CNY 235.73 million[178]. - Over the last three accounting years, the cumulative cash dividend amount (including tax) is CNY 201.66 million, with a cash dividend ratio of 95.82% based on the average annual net profit of CNY 210.45 million[179]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[3]. - The board of directors has ensured the accuracy and completeness of the annual report[3]. - There are no violations of decision-making procedures for external guarantees[6]. - The company has not faced any risks that would prevent a majority of directors from ensuring the authenticity of the annual report[7]. - The company has not reported any absence of directors that would affect the annual report's integrity[7]. - The company has established a comprehensive internal control system to enhance risk prevention capabilities, following relevant guidelines and standards[139]. - The internal control system is deemed effective, with no significant deficiencies reported during the evaluation period[184]. - The company has not faced any regulatory criticisms or penalties related to information disclosure during the reporting period[135]. Risk Management - The company has outlined potential risks in its management discussion and analysis section[7]. - The company established a comprehensive risk management framework, completing 242 internal regulations and revising 78 throughout the year[43]. - The company recognizes the risk of policy changes affecting pricing and regulatory frameworks in the water, electricity, and gas sectors[126]. - The company faces natural disaster risks that could impact hydropower and distributed photovoltaic generation due to extreme weather conditions[126]. - The company reported accounts receivable of 604.83 million yuan, representing 28.45% of current assets and 18.81% of revenue, indicating potential bad debt risks[127]. Operational Highlights - The water sales volume reached 99.4941 million cubic meters, an increase of 11.34% compared to the previous year[38]. - The total installed capacity of distributed photovoltaic reached 172.02 MW, with an addition of 126.04 MW during the year[38]. - The company completed 20 infrastructure projects and successfully put 4 major projects into operation[39]. - The annual power generation of Xinjiang Aizhong Energy reached 708.79 million kWh, setting a new historical record[40]. - The company achieved value-added service revenue of RMB 10.71 million in 2024[42]. - The company’s maximum power load reached 718,000 kW, and the maximum daily water supply was 411,400 tons[39]. Environmental and Social Responsibility - The company invested 8.54 million CNY in environmental protection during the reporting period[185]. - The total discharge of Chemical Oxygen Demand (CODcr) for 2024 was 96.02 tons, well below the annual limit of 438 tons[187]. - The company has established a mechanism for environmental protection and complies with relevant environmental regulations[186]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[192]. - The total investment in poverty alleviation and rural revitalization projects amounted to 100.9414 million yuan, benefiting 523,000 people[198]. - The company made a total donation of 120,500 yuan to various public welfare projects, benefiting 409 individuals[198]. Corporate Governance - The company strictly adhered to the regulations of the Shanghai Stock Exchange and maintained a high level of corporate governance, with no violations reported during the period[135]. - The board of directors and supervisory board effectively supervised the company's operations, ensuring compliance and risk management[134]. - The company has established specialized committees within the board to enhance governance and oversight[160]. - The company is focused on improving its internal control and risk management systems as part of its strategic objectives[161]. - The company held three performance briefings during the reporting period, responding to 127 investor inquiries through the Shanghai Stock Exchange's "E Interaction" platform[136]. Employee and Compensation - The total number of employees in the parent company is 222, while the main subsidiaries employ 2,130, resulting in a total of 2,352 employees[166]. - The company has 1,031 retired employees for whom it bears expenses[166]. - The total compensation for the chairman, Yu Zhengjun, during the reporting period was 772,600 CNY[143]. - The total compensation for the general manager was 679,300 CNY[143]. - The total compensation for the independent director, Li Guangjin, was 67,500 CNY[143]. - The total compensation for the supervisor, Zhang Qing, was 633,000 CNY[143]. - The company plans to implement a diversified compensation system, including fixed and variable salary structures, to align employee compensation with organizational and individual performance[168]. - The training plan for 2024 includes 61 offline training sessions and 1,814 participants in online learning, totaling 13,621.28 hours of study[169]. Strategic Initiatives - The company is focusing on the development of distributed photovoltaic projects as a key growth driver, particularly in related industries[123]. - The company plans to leverage external capital and government resources to build industry funds and invest in industrial parks[124]. - The company aims to enhance customer satisfaction and stability through improved service capabilities and effective risk management strategies[126]. - The company plans to expand its market presence and enhance its operational strategies for 2025[165]. - The company is committed to integrating public utilities and providing green low-carbon comprehensive energy services, aiming to enhance market value and profitability[121].