TBEA(SH:600089)2021-04-14 16:00Financial Performance - In 2020, TBEA achieved a net profit of ¥756,790,938.98, with a proposed cash distribution of ¥780,005,685.69 to shareholders, amounting to ¥2.10 per 10 shares[4]. - The total distributable profit for 2020, after extracting 10% for statutory reserves, was ¥5,759,259,094.16[4]. - TBEA's financial report received a standard unqualified audit opinion from Xinyong Zhonghe Accounting Firm[4]. - The company's operating revenue for 2020 was approximately ¥44.1 billion, representing a year-over-year increase of 19.24% compared to ¥37.0 billion in 2019[16]. - The net profit attributable to shareholders for 2020 was approximately ¥2.49 billion, an increase of 23.21% from ¥2.02 billion in 2019[16]. - The net cash flow from operating activities for 2020 was approximately ¥5.26 billion, reflecting a 30.12% increase from ¥4.04 billion in 2019[16]. - The basic earnings per share for 2020 was ¥0.5907, up 25.81% from ¥0.4695 in 2019[17]. - The total assets at the end of 2020 were approximately ¥109.49 billion, a 7.11% increase from ¥102.22 billion at the end of 2019[16]. - The company reported a total of ¥650.69 million in non-recurring gains and losses for 2020, compared to ¥422.61 million in 2019[22]. - The weighted average return on equity for 2020 was 6.93%, an increase of 1.08 percentage points from 5.85% in 2019[17]. - The company achieved a net profit of approximately ¥931.14 million in Q4 2020, marking a significant increase from previous quarters[19]. - The total net assets attributable to shareholders at the end of 2020 were approximately ¥37.60 billion, a 7.79% increase from ¥34.88 billion at the end of 2019[16]. Corporate Governance - TBEA's board of directors and management confirmed the accuracy and completeness of the annual report, with no significant risks or violations reported[5]. - The company has no non-operating fund occupation by controlling shareholders or related parties[5]. - There were no significant changes in the company's share capital structure during the reporting period[5]. - The company maintains a commitment to transparency and has designated multiple media outlets for information disclosure[13]. - The company has established a comprehensive talent structure and performance evaluation system to enhance team efficiency and support strategic goals[37]. - The company has actively participated in the formulation and revision of 4 national standards and 9 industry standards in 2020[34]. - The company has established a robust credit risk management system to monitor and assess customer creditworthiness, especially in light of increasing economic pressures[111]. - The company has committed to not engaging in similar business activities as its major shareholder to avoid competition[116]. - The company has a long-term commitment to not transfer or manage shares of a related company for a specified period following its IPO[116]. Market and Industry Trends - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[21]. - In 2020, China's total installed power generation capacity reached 2.2 billion kilowatts, a year-on-year increase of 9.5%[27]. - The investment in power engineering construction in 2020 was RMB 524.4 billion, a year-on-year increase of 29.2%, with wind and solar power investments growing by 70.6% and 66.4% respectively[27]. - The company is positioned to benefit from the government's focus on new infrastructure projects, including 5G and renewable energy initiatives[27]. - The company plans to expand its renewable energy projects in response to government policies supporting the sector[75]. - The company aims to provide high-quality energy solutions by steadily advancing wind and solar resource development[79]. - The company’s strategic focus includes enhancing the efficiency of renewable energy consumption and promoting a clean, low-carbon energy system[79]. Research and Development - The company added 198 authorized patents in 2020, including 34 invention patents, bringing the total to 1,409 effective authorized patents by the end of the year[34]. - The company’s R&D expenses rose by 55.39% to CNY 870.13 million, indicating a strong focus on innovation[41]. - The company is advancing its digital transformation through the implementation of ERP and CRM systems, enhancing operational efficiency[38]. - The company plans to enhance R&D and innovation capabilities to reduce production costs and improve quality through automation and smart products[111]. - The company is actively involved in the development of new technologies and products, focusing on expanding its market presence[176]. Environmental Responsibility - The total emissions of sulfur dioxide from Changhe Power Plant were 210.50 tons, significantly below the approved limit of 832.00 tons[154]. - The nitrogen oxides emissions from Beiyi Power Plant were 705.63 tons, well under the approved limit of 2,541.00 tons[154]. - The company achieved a dust emission concentration of 3.46 mg/m³ at its power plant, which is below the standard limit of 20 mg/m³[157]. - The company has a wastewater recycling rate of over 98% in its polysilicon production facilities[156]. - The desulfurization efficiency at Changhe Power Plant is 98.17%, indicating effective pollution control measures[156]. - The company has implemented a comprehensive environmental monitoring system to track emissions continuously[156]. - The company has established emergency response plans for environmental incidents across its coal mining and power generation operations[157]. - The company has maintained a 100% operational rate for its dust removal facilities across its power plants[156]. - The company has not reported any exceedances in emissions standards during the reporting period[157]. Strategic Initiatives - The company plans to achieve a revenue of 48 billion yuan in 2021, with operating costs controlled within 38.5 billion yuan[102]. - The company will accelerate the construction of the South Open-pit Coal Mine and the General Gobi No. 2 Open-pit Coal Mine to achieve production targets[103]. - The company will increase investment in technology innovation in emerging business areas and core components to enhance competitiveness[104]. - The company plans to implement a comprehensive digital transformation, enhancing ERP and CRM systems across its operations[106]. - The company will strengthen its risk management framework to mitigate credit and financial risks[108]. - The company will continue to consolidate poverty alleviation efforts and align them with rural revitalization initiatives[109]. Shareholder Information - The company reported a cash dividend of 2.10 RMB per 10 shares for 2020, totaling approximately 780 million RMB, which represents 31.36% of the net profit attributable to ordinary shareholders[113]. - The largest shareholder, Xinjiang Tebian Electric Group Co., Ltd., holds 446,982,637 shares, accounting for 12.03% of the total shares[163]. - The company has not experienced any changes in its total number of shares or major shareholders during the reporting period[161]. - The company has not disclosed any new product or technology developments in the provided content[165]. Legal and Compliance - The company has not faced any risks of suspension or termination of listing during the reporting period[121]. - The company has not encountered any issues related to the occupation of funds or overdue receivables during the reporting period[119]. - The company has not made any significant changes to accounting policies or estimates that would affect the financial statements[119]. - The company maintains a good integrity status, with no significant debts or court judgments against it during the reporting period[124]. - The company has established a management system for insider information, ensuring no leaks occurred during the reporting period[194]. Employee and Management - The company employed a total of 16,845 staff, with 2,700 in the parent company and 14,145 in major subsidiaries[187]. - The company has implemented a performance-based salary system, combining basic salary, performance pay, and various allowances[189]. - The company plans to enhance its training programs in 2021, focusing on internationalization and digital transformation capabilities[190]. - The remuneration for management is determined based on the company's performance evaluation system[189]. - The company has established a sound corporate governance structure, ensuring clear responsibilities and effective checks and balances among the shareholders, board of directors, supervisory board, and management[191].