ENN ENERGY(HK:02688)2022-04-05 22:41Financial Performance - The total revenue for 2021 was RMB 93,113 million, representing a 30.0% increase from RMB 71,617 million in 2020[58]. - The core profit for 2021 was RMB 7,154 million, up 14.6% from RMB 6,242 million in 2020[58]. - The annual profit attributable to the company's owners was RMB 7,755 million, up from RMB 6,278 million, reflecting a year-on-year increase of about 23.5%[68]. - Basic earnings per share rose to RMB 6.88, compared to RMB 5.59 in the previous year, representing an increase of approximately 23%[71]. - The total investment return was calculated at 29.0% for the year ending December 31, 2021[35]. - The total assets increased by 11.0% to RMB 99,988 million from RMB 90,043 million in 2020[60]. - The net debt ratio improved to 26.6%, down 4.0 percentage points from 30.6% in 2020[60]. - The total loan amount was RMB 19,890 million, a slight increase of 1.0% from RMB 19,684 million in 2020[60]. - The total dividend payout for the year, including the interim dividend, amounts to approximately RMB 2.498 billion, with retained earnings of about RMB 5.407 billion[198]. Operational Highlights - The number of urban gas projects increased to 252 in 2021 from 235 in 2020, representing a growth of 7.2%[41]. - The total natural gas sales volume reached 33,097 million cubic meters in 2021, up from 29,569 million cubic meters in 2020, marking an increase of 11.4%[41]. - The cumulative number of industrial and commercial users installed with designed daily gas supply capacity rose to 202,459 locations, a 14.3% increase from 177,128 in 2020[56]. - The integrated energy sales volume surged to 19,065 million kilowatt-hours in 2021, compared to 12,042 million kilowatt-hours in 2020, reflecting a growth of 58.3%[56]. - The company achieved a customer satisfaction rate of 92.1% in 2021, slightly down from 94.1% in 2020[21]. - The number of integrated energy projects increased to 150 in 2021 from 119 in 2020, showing a growth of 26.1%[56]. - The company reported a 15.1% increase in retail natural gas sales volume, reaching 25,269 million cubic meters in 2021 compared to 21,953 million cubic meters in 2020[56]. - The total gas sales volume for residential users was 4,707,980 thousand cubic meters, an increase from 4,197,249 thousand cubic meters in 2020[64]. Sustainability and ESG Initiatives - The company aims to achieve carbon neutrality by 2050, aligning with China's goals of peak carbon emissions by 2030 and carbon neutrality by 2060[72]. - The company is enhancing its ESG governance, with its MSCI ESG rating upgraded to "A" in October 2021, reflecting strong market recognition of its sustainable development efforts[81]. - The company has joined the Methane Guiding Principles organization to explore and implement sustainable methane reduction measures[73]. - The company completed 143 technology innovation projects and filed 48 patent applications in 2021, focusing on digital transformation and green low-carbon initiatives[79]. - The company is committed to enhancing ESG management and integrating ESG culture and strategy into daily operations[167]. Governance and Management - The company has established a robust governance structure with various committees, including audit, nomination, remuneration, and risk management[115][116][117]. - The board consists of 11 members, including 4 executive directors, 3 non-executive directors, and 4 independent non-executive directors[138]. - The company has implemented an annual performance review for the board since 2020 to enhance corporate governance and board effectiveness[137]. - The independent non-executive directors ensure that the board's decisions are fair and reasonable, promoting sustainable development of the company[138]. - The company has established improvement plans based on feedback from board members regarding corporate culture and shareholder interests[137]. Future Plans and Strategies - The company aims to accelerate the provision of diversified low-carbon energy solutions to assist customers and the nation in reducing carbon emissions[72]. - The company plans to leverage its existing 200,000 industrial and commercial customers to expand its comprehensive energy business in 2022[94]. - The company aims to enhance its gas source structure and competitiveness by deepening cooperation with major oil companies and exploring unconventional gas sources[95]. - The company is focused on creating a modern energy system and providing tailored energy solutions to meet customer needs, leveraging its long-term clean energy storage resources[192]. - The company plans to expand its value-added business model focusing on customer needs, emphasizing safety, connectivity, and low-carbon solutions[96].