GGEP(SH:600236)2022-04-27 16:00Financial Performance - In 2021, Guangxi Guiguan Electric Power Co., Ltd. achieved a net profit attributable to shareholders of 1,352,036,774.35 CNY, a decrease of 38.45% compared to 2020[4]. - The company's total operating revenue for 2021 was 8,414,290,033.69 CNY, down 6.24% from 2020[16]. - The net cash flow from operating activities was 4,056,459,232.50 CNY, representing a decline of 27.19% year-on-year[16]. - The net profit after deducting non-recurring gains and losses was 1,348,887,989.97 CNY, down 38.93% from the previous year[16]. - Basic earnings per share decreased by 41.72% to CNY 0.1622 from CNY 0.2783 in 2020[18]. - The company achieved a total profit of 189.73 million yuan in 2021, a decrease of 106.42 million yuan compared to the previous year[37]. - Operating revenue for the year was 8.41 billion yuan, down 6.24% from 8.97 billion yuan in the previous year[38]. - The company reported a significant increase in revenue, achieving a total of 40 billion yuan for the year, representing a growth of 15% year-over-year[109]. Assets and Liabilities - As of the end of 2021, the total assets amounted to 44,447,210,027.31 CNY, a decrease of 0.74% compared to the end of 2020[17]. - The total liabilities amounted to CNY 24,753.20 million, with a debt-to-asset ratio of 55.69%, down 1.09 percentage points from the beginning of the year[25]. - The company's total assets at the end of the period were 1,400.70 million in accounts receivable, which accounted for 3.15% of total assets, an increase of 8.93% from the previous period[57]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares, totaling 1,182,356,670.30 CNY for the year[4]. - The cumulative undistributed profits at the end of 2021 were 3,600,144,865.32 CNY[4]. - The company had a net profit of 1,352,036,774.35 RMB in 2021, with a profit distribution plan that did not include stock dividends[139]. Electricity Generation and Revenue - The total electricity generation for 2021 was 34.807 billion kWh, a decrease of 14.95% compared to the previous year[24]. - Hydropower generation decreased by 20.35% to 29.281 billion kWh, primarily due to reduced water inflow in most river basins[24]. - Wind power generation increased by 159.04% to 1.246 billion kWh, attributed to the commissioning of new units during the year[24]. - The revenue from thermal power increased by CNY 23,706 million to CNY 155,465 million, while hydropower revenue decreased by CNY 116,894 million to CNY 616,559 million due to reduced water inflow[40]. Operational Efficiency and Cost Management - The company reduced financial expenses by 137 million yuan year-on-year, with a comprehensive financing cost rate decreasing by 0.21 percentage points[27]. - The average utilization hours for power generation equipment in 2021 was 3,817 hours, an increase of 60 hours year-on-year[28]. - The operating cost for 2021 was CNY 523,641 million, an increase of CNY 65,581 million year-on-year, primarily due to rising fuel costs and increased employee compensation[41]. - The company implemented cost control measures, resulting in reduced management and financial expenses[40]. Research and Development - The total research and development expenditure for the period was 4,843,528.82, accounting for 0.06% of operating revenue[51]. - The company obtained 61 patent authorizations in 2021, including 11 invention patents, reflecting its commitment to technological innovation[27]. Strategic Initiatives and Future Outlook - The company plans to invest approximately 2.542 billion RMB in multiple renewable energy projects, with funding sourced from 30% equity and 70% bank loans[74]. - The company aims to achieve zero safety and environmental responsibility accidents and zero unplanned outages of wind turbines in 2022[87]. - The company plans to expand its clean energy portfolio by developing wind and solar power, exploring hydrogen and energy storage, and enhancing digital enterprise models[86]. - The company forecasts a 5%-6% growth in national electricity consumption for 2022, with total consumption expected to be between 8.7 trillion and 8.8 trillion kilowatt-hours[82]. Governance and Compliance - The company has established a comprehensive internal control system, conducting annual risk assessments and ensuring effective execution of various internal control measures[96]. - The company strictly adheres to information disclosure regulations, providing timely and accurate information to shareholders and investors through multiple communication channels[97]. - The company held 3 shareholder meetings during the reporting period, ensuring compliance with legal regulations and maintaining complete and accurate meeting records[95]. Environmental and Social Responsibility - The company has implemented an emergency response plan for environmental incidents at its power plants[150]. - The company has established a fish breeding and release center with a designed release scale of 1.32 million fish per year, focusing on 11 rare fish species[153]. - The company allocated 17 million yuan for rural revitalization projects in Dahu County, with a planned budget of 29.5 million yuan for 2022[155]. - The company has integrated education assistance and renewable energy development in its rural revitalization efforts, enhancing local educational infrastructure[159].