TGWC(SH:600116)2022-04-27 16:00Financial Performance - The company achieved a net profit of ¥376,563,150.53 for the year 2021, with a distributable profit of ¥338,906,835.48 after statutory surplus reserve allocation[7]. - The total distributable profit at the end of 2021 reached ¥1,288,682,413.34, after accounting for the previous year's undistributed profit and dividends paid[7]. - The proposed cash dividend for 2021 is ¥1.5 per 10 shares, totaling ¥286,821,435.60, which will be submitted for shareholder approval[7]. - The company's operating revenue for 2021 was CNY 10,176,643,311.45, representing a 93.62% increase compared to CNY 5,255,983,866.68 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 864,955,840.54, a 39.52% increase from CNY 619,939,081.32 in 2020[25]. - The net cash flow from operating activities for 2021 was CNY 1,314,681,952.57, up 44.79% from CNY 907,987,991.85 in 2020[25]. - The total assets at the end of 2021 were CNY 21,251,901,578.84, a 9.08% increase from CNY 19,483,139,404.28 at the end of 2020[25]. - The basic earnings per share for 2021 was CNY 0.45, a 9.76% increase compared to CNY 0.41 in 2020[25]. Operational Highlights - The company sold 13.218 billion kWh of electricity in 2021, representing a year-on-year growth of 17%[41]. - The company reported an operating profit of 1.28823 billion RMB, with the electricity business contributing 511.58 million RMB, accounting for 39.71% of the total operating profit[39]. - The total production of electrolytic manganese in 2021 was 130,400 tons, a decrease of 13.1% year-on-year, while the average tax-inclusive guidance price for electrolytic manganese was 25,000 CNY/ton[57]. - The company's electrolytic manganese production in 2021 was 71,800 tons, with total sales reaching 119,100 tons[58]. - The total electricity traded in the market reached 14,924 million kWh, representing a year-on-year increase of 12.76%[120]. Strategic Initiatives - The company has established a new strategic development goal to become a leading comprehensive energy listed company based on power distribution and sales[40]. - The company is actively expanding its new business in comprehensive energy services, with a registered capital increase to 500 million RMB for its subsidiary[44]. - The company is focusing on low-carbon energy development, aligning with national strategies for carbon peak and carbon neutrality[63]. - The company is committed to the "14th Five-Year" strategic development plan, emphasizing reform, innovation, and development in its market-based electricity sales[126]. - The company plans to enhance its self-generation capacity by developing gas-fired power projects, leveraging its shale gas resource advantages[157]. Market and Industry Trends - In 2021, the total electricity consumption in China reached 8.31 trillion kWh, representing a year-on-year growth of 10.3%[49]. - The total national power generation in 2021 was 8.38 trillion kWh, with a year-on-year increase of 9.8%[52]. - Non-fossil energy power generation capacity reached 1.12 billion kW, accounting for 47.0% of the total installed capacity, an increase of 2.3 percentage points year-on-year[52]. - The electrolytic manganese market is expected to grow due to rising demand driven by improved living standards and infrastructure development[159]. Governance and Compliance - The company has established a governance mechanism that ensures clear responsibilities and effective operation among its decision-making, supervisory, and management bodies[176]. - The company has conducted a special self-inspection of corporate governance to identify potential risks and implement corrective measures[176]. - The company maintains complete independence in operations, including procurement, production, and sales, without reliance on the controlling shareholder[179]. - The company has established an independent financial accounting department with a separate accounting system and financial management policies, ensuring no shared bank accounts with the controlling shareholder[179]. Future Outlook - The company aims to exceed 100 billion kWh in sales volume by 2025, with 80 billion kWh from market-oriented sales[161]. - The company plans to achieve total assets of over 32 billion yuan and operating revenue exceeding 15 billion yuan by 2025[161]. - In 2022, the company targets a sales volume of 13.034 billion kWh and operating revenue of 12.352 billion yuan[166]. - The management team has emphasized the importance of sustainable practices, aiming for a 20% reduction in carbon emissions by 2025[192].