SEP(SH:600021)2019-04-24 16:00Financial Performance - In 2018, the company achieved a net profit of CNY 1,755,296,621.22, with a remaining distributable profit of CNY 2,784,386,574.76 after accounting for dividends and reserves[3]. - The company's operating revenue for 2018 was CNY 22,578,777,856.69, representing an increase of 18.54% compared to CNY 19,047,907,179.20 in 2017[16]. - The proposed cash dividend for 2018 is CNY 0.33 per share, totaling an estimated distribution of CNY 863,664,185.01 based on the total share capital of 2,617,164,197 shares[3]. - The net profit attributable to shareholders of the listed company for 2018 was approximately CNY 2.77 billion, an increase of 178.53% compared to the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 515.47 million, representing an increase of 111.48% year-on-year[17]. - The net cash flow from operating activities reached CNY 6.35 billion, up 48.36% from the previous year[17]. - The total assets of the company at the end of 2018 were CNY 98.67 billion, reflecting a growth of 16.58% compared to the previous year[17]. - The basic earnings per share for 2018 was CNY 1.1171, a significant increase of 170.75% from CNY 0.4126 in 2017[18]. - The weighted average return on equity increased to 18.92%, up 11.33 percentage points from the previous year[18]. - The company achieved a total revenue of 22.58 billion RMB in 2018, representing an 18.54% year-on-year growth and exceeding the annual budget by 5.76%[34]. Operational Metrics - The company’s total installed capacity and electricity sold to the grid are key operational metrics, although specific figures were not detailed in the provided content[8]. - As of December 2018, the company's installed capacity reached 15.0025 million kW, with clean energy accounting for 43.48% of the total capacity[26]. - The coal power segment contributed 8.48 million kW, representing 56.53% of the total installed capacity, while gas power accounted for 2.3918 million kW, or 15.94%[26]. - The company generated a total of 15.5888 million GJ of heat in 2018, reflecting a year-on-year growth of 1.61% and capturing 60.98% of the heating market in Shanghai, an increase of 8.73 percentage points[26]. - The total power generation for the year was 48.48 billion kWh, up 18.19% year-on-year, with electricity sales reaching 46.01 billion kWh, an increase of 17.90%[33]. Risk Management - The company reported no significant operational risks that could materially affect its production and operations during the reporting period[5]. - The company has outlined various risks it may face, including policy risks, overseas investment risks, and environmental risks, with corresponding mitigation strategies[5]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[4]. Environmental Compliance - The company reported emissions of 249.55 tons of particulate matter, 2448.62 tons of sulfur dioxide, and 4496.14 tons of nitrogen oxides in 2018[123]. - The company achieved a dust removal facility operation rate of 100% and a dust removal efficiency greater than 99.9% in 2018[126]. - The desulfurization facility operation rate was 100% with a desulfurization efficiency of 98.51%[126]. - The nitrogen oxide emissions from the company’s facilities were consistently below the permitted limits, with no punitive exceedances reported[124]. - The company has established a real-time monitoring system for emissions, ensuring compliance with emission limits[126]. Strategic Initiatives - The company is focusing on expanding its renewable energy portfolio, including wind and solar power, to enhance its market presence both domestically and internationally[25]. - The company plans to continue optimizing its debt structure and financing channels to further reduce financing costs in the future[33]. - The company aims to achieve a total installed capacity of 15,678.7 MW and a clean energy installed capacity of 7,150.7 MW, representing 45.61% of total installed capacity by 2019[75]. - The company is committed to achieving a clean energy generation ratio of no less than 50% by 2020[74]. Corporate Governance - The company maintained compliance with corporate governance standards as per the Company Law and relevant regulations, ensuring a robust governance structure[178]. - The internal control audit report issued by the accounting firm showed a standard unqualified opinion on the effectiveness of internal controls as of December 31, 2018[184]. - The company actively engaged in investor relations through various channels, including investor hotlines and institutional research interviews, to understand market concerns[183]. Future Outlook - The company plans to enhance market presence through strategic acquisitions and partnerships in renewable energy[54]. - Future outlook indicates continued expansion in solar and wind energy sectors, with ongoing investments in new technologies[54]. - The company has outlined plans for future market expansion, particularly in the renewable energy sector, to capitalize on emerging opportunities[92].