ELHT(SH:600133)2021-04-29 16:00Financial Performance - The company reported a net profit of 146.73 million yuan for the year 2020, with an increase in undistributed profits to 528.26 million yuan by year-end[6]. - The company's operating revenue for 2020 was CNY 10,593,750,640.33, representing a 12.42% increase compared to 2019[26]. - Net profit attributable to shareholders for 2020 reached CNY 684,809,895.52, a significant increase of 274.02% year-on-year[26]. - The net cash flow from operating activities was CNY 2,544,231,178.51, showing a remarkable increase of 609.57% compared to the previous year[26]. - Basic earnings per share for 2020 were CNY 0.8709, up 297.13% from CNY 0.2193 in 2019[30]. - The weighted average return on equity increased to 13.65%, up by 9.62 percentage points from the previous year[30]. - The total assets at the end of 2020 were CNY 27,178,372,195.78, a 2.01% increase from 2019[26]. - The net assets attributable to shareholders increased by 11.84% to CNY 5,381,463,988.13 by the end of 2020[26]. - The company reported a net profit of CNY 382,633,904.35 in Q4 2020, contributing to a strong finish for the year[29]. - The company experienced a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 609,423,961.69, a 342.55% increase from 2019[26]. Dividend Policy - A cash dividend of 1.10 yuan per 10 shares (including tax) is proposed for distribution to shareholders[6]. - The company has established a cash dividend policy, mandating that the cumulative cash dividends over the last three years must not be less than 30% of the average annual distributable profits during that period[139]. - In 2020, the cash dividend distributed was CNY 87.50 million, representing 12.78% of the net profit attributable to ordinary shareholders[140]. - The company did not propose a cash profit distribution plan despite having positive distributable profits for ordinary shareholders during the reporting period[141]. - The cash dividend per 10 shares for 2020 was CNY 1.10, compared to CNY 0.25 in both 2019 and 2018[140]. Audit and Compliance - The company has a standard unqualified audit report issued by Zhongshen Zhonghuan Accounting Firm[5]. - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[4]. - The company has not faced any non-standard audit opinions during the reporting period[163]. - The company has not made any adjustments to its profit distribution policies during the reporting period[139]. Strategic Development - The company plans to continue its investment in infrastructure and environmental technology projects, focusing on sustainable development[18]. - The company has a clear strategy for future expansion and development, although specific numerical targets were not disclosed[7]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[26]. - The company is actively expanding its market presence in various provinces and regions, including Guangdong, Guangxi, and Xinjiang, as well as overseas projects[39]. - The company aims to integrate investment, design, consulting, construction, and operation to enhance its core competitiveness in the engineering sector[127]. Environmental Technology - The company’s environmental technology segment focuses on air pollution control, water treatment, and emerging environmental industries, contributing to its overall growth strategy[41]. - The company has achieved a market-leading position in the flue gas treatment sector, particularly in the coal-fired power plant segment, with the highest market share in the industry[42]. - The company’s revenue from environmental technology services includes comprehensive solutions for flue gas treatment in waste incineration power plants, with major clients including China Everbright International and Shenzhen Energy[43]. - The company plans to expand its environmental technology services, focusing on air pollution control and waste incineration gas treatment projects[127]. Investment and Projects - The company has a total of 12 BOOM, BOT, TOT, and OM projects in operation, covering a total installed capacity of 14.36 million kilowatts and an investment scale of 2.2 billion RMB in flue gas comprehensive treatment for coal-fired power plants[42]. - The company signed strategic cooperation agreements with local governments and major enterprises, expanding its project development resources by acquiring 492 acres of land for new projects[56]. - The company completed a total output value of CNY 8.548 billion in engineering construction, exceeding the annual budget by 1.77% and growing 13.81% year-on-year[56]. - The company has a total of 49 ongoing infrastructure projects, amounting to 1,587,330.52 million RMB[92]. Risks and Challenges - The company has no significant risks that could materially affect its operations during the reporting period[8]. - The company faces risks related to market changes, including the need to adapt to new infrastructure trends and potential impacts on market share[135]. - The company anticipates increased costs due to rising prices of labor and materials, which may affect project completion and profitability[135]. - The company’s financial health is dependent on timely payments from clients, as its projects require significant capital investment[135]. Related Party Transactions - The company approved a daily related party transaction amount not exceeding RMB 12.2541 million for service transactions in 2020[175]. - The company completed a related party transaction for raw material procurement amounting to RMB 263.201 million, accounting for 5.67% of similar transactions[179]. - The company has committed to avoiding any conflicts of interest with Jiantou Group during its control period[144]. - The company will minimize and avoid related party transactions, ensuring that any necessary transactions are conducted at market prices and in compliance with legal requirements[149].