WTECL(SH:600157)2022-04-25 16:00Financial Performance - The company's operating revenue for 2021 was CNY 27,080,483,926.18, representing a 22.29% increase compared to CNY 22,144,195,812.55 in 2020[15]. - Net profit attributable to shareholders decreased by 76.27% to CNY 1,064,098,152.52 from CNY 4,484,669,792.13 in the previous year[15]. - The net profit after deducting non-recurring gains and losses increased by 291.23% to CNY 763,995,324.58 from CNY 195,279,150.95 in 2020[15]. - The weighted average return on equity decreased by 14.87 percentage points to 2.5351% from 17.4030% in 2020[16]. - The total assets at the end of 2021 were CNY 104,306,207,849.05, a slight increase of 0.17% from CNY 104,133,134,714.24 at the end of 2020[15]. - The cash flow from operating activities for 2021 was CNY 5,119,368,505.74, showing a 2.00% increase from CNY 5,019,089,657.18 in 2020[15]. - The basic earnings per share for 2021 was CNY 0.0479, down 76.28% from CNY 0.2019 in 2020[16]. - The company's total equity attributable to shareholders increased by 2.03% to CNY 42,395,481,805.34 at the end of 2021 from CNY 41,552,427,031.17 at the end of 2020[15]. - The company reported a total of CNY 300,102,827.94 in non-recurring gains for 2021, significantly lower than CNY 4,289,390,641.18 in 2020[18]. Operational Highlights - The company's coal production capacity currently stands at 9.9 million tons per year, with plans to increase total coking coal capacity to 11 million tons per year following the approval of a 600,000 tons per year capacity increase at two mines[21]. - The total installed capacity of the company's power business reached 8.97 million kilowatts, with significant contributions to regional electricity and heat supply in Jiangsu, Henan, and Zhoukou[22]. - The company implemented a "1234" intensive production strategy, enhancing efficiency through automation and smart mining technologies, resulting in a recovery of 109,300 tons of resources and generating over 50 million yuan in economic benefits[22]. - The company is actively pursuing the development of new energy projects in collaboration with large state-owned enterprises and research institutions to accelerate its energy transition[21]. - The company has reported a successful implementation of intelligent mining techniques, with 11 mines recognized as national-level safe and efficient mines, including 4 at the special level[22]. - The company is advancing the mining license acquisition for the Haizetang coal mine, which has a planned capacity of 6 million tons per year, to further enhance its resource base[22]. - The company has established a comprehensive mechanism to improve coal quality recovery rates, leading to a significant reduction in waste and an increase in economic efficiency[22]. - The company is focusing on the development of advanced coal mining technologies, which have shown promising results in improving production quality and efficiency[22]. Environmental and Safety Standards - The company's coal-fired power plants achieved ultra-low emissions, with average emissions of dust, sulfur dioxide, and nitrogen oxides at 1.4 mg/m³, 17.7 mg/m³, and 34.2 mg/m³, respectively, all below the ultra-low emission standards[24]. - The company maintained a stable safety production record with no major safety responsibility accidents throughout the year[25]. - The company implemented 490 safety prevention measures, effectively eliminating safety hazards in its operations[25]. - The company achieved a 100% operational rate for environmental protection facilities across its power plants, ensuring compliance with national pollution control standards[133]. - All power plants utilize advanced pollution control technologies, including high-efficiency bag filters and low-nitrogen combustion systems, achieving ultra-low emissions for all air pollutants[133]. - The company has implemented a comprehensive environmental monitoring scheme, including real-time data transmission to regulatory authorities, ensuring compliance with environmental standards[136]. Strategic Initiatives and Future Outlook - The company plans to invest in renewable energy projects, aiming for a scale of 10 million kW by 2030 through partnerships with major state-owned enterprises[24]. - The company is focusing on high-quality coking coal and semi-coking coal, which are scarce resources with strong market price resilience[30]. - The company aims to achieve a storage capacity of over 10 million kW in new energy projects by 2030 through partnerships with state-owned enterprises[88]. - The company is committed to increasing its annual R&D investment in energy technology to no less than 100 million CNY, focusing on energy storage and innovation projects[90]. - The company is transitioning towards the energy storage sector, leveraging its existing coal and electricity business for stable cash flow support[87]. - The company aims for substantial breakthroughs in the energy storage industry within one year and to form a scale within three years[88]. - The company is responding to national energy security strategies and carbon neutrality goals, emphasizing the integration of energy storage with renewable energy sources[87]. Corporate Governance and Shareholder Information - The company has a cash dividend policy stating that the total cash dividends distributed should not be less than 30% of the net profit attributable to shareholders in the current year[121]. - The company reported a total shareholding of 9,780,380 shares held by the actual controller, Mr. Wang Guangxi, at the end of the reporting period[99]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to CNY 12.1934 million[106]. - The actual remuneration received by all directors, supervisors, and senior management at the end of the reporting period was CNY 12.1934 million[106]. - The company has maintained a consistent shareholding structure with no changes in the number of shares held by key executives during the reporting period[99]. - The company has not reported any changes in shareholding for the vice presidents during the reporting period[99]. Legal and Compliance Matters - The company faced multiple significant lawsuits, with total amounts involved including 293,926,200.00 yuan from Evergrande Life Insurance and 214,000,000.00 yuan from Xinyuan Fund Management, all of which have been resolved[155]. - The company has disclosed its restructuring progress in various financial publications and on the Shanghai Stock Exchange website, ensuring transparency in its financial dealings[152]. - The company has resolved multiple litigation cases related to debt financing instruments, with amounts including ¥34,408,592 and ¥324,707,361[156]. - The company is currently involved in litigation with a total claim amount of ¥36,515,435, which has been concluded[156]. - The company has implemented a comprehensive debt resolution plan approved by the Nanjing Intermediate Court[165].