*ST金山(600396) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was approximately ¥7.29 billion, a decrease of 1.55% compared to ¥7.40 billion in 2019[20]. - The net profit attributable to shareholders for 2020 was approximately ¥81.72 million, representing a 21.20% increase from ¥67.43 million in 2019[20]. - The net cash flow from operating activities decreased by 34.61% to approximately ¥1.06 billion in 2020, down from ¥1.63 billion in 2019[20]. - Total assets increased by 5.95% to approximately ¥20.45 billion at the end of 2020, compared to ¥19.31 billion at the end of 2019[20]. - The net assets attributable to shareholders rose by 3.86% to approximately ¥2.12 billion at the end of 2020, compared to ¥2.04 billion at the end of 2019[20]. - Basic earnings per share increased by 21.18% to CNY 0.0555 compared to CNY 0.0458 in 2019[21]. - Net profit attributable to shareholders, excluding non-recurring gains and losses, increased by CNY 397 million year-on-year, primarily due to improved asset profitability and reduced fixed costs[21]. - The weighted average return on equity rose to 3.94%, an increase of 0.57 percentage points from 2019[21]. - Total operating revenue for Q4 2020 reached CNY 2,097,378,344.31, with a net profit attributable to shareholders of CNY 79,948,307.29[24]. - The company reported a net cash flow from operating activities of CNY 390,389,294.69 in Q4 2020[24]. Operational Highlights - The company’s coal-fired power generation capacity is now below 50% of total installed capacity, reflecting a shift towards non-fossil energy sources[32]. - The national electricity investment grew by 9.6% year-on-year, with significant increases in wind and solar power generation capacity[32]. - The company is focused on enhancing the environmental standards of its thermal power plants in line with local government regulations[32]. - The market trading volume of electricity increased by 11.7% year-on-year, indicating a growing trend in electricity market transactions[32]. - As of the end of 2020, the total assets of the company amounted to CNY 20.455 billion, with a total installed capacity of 5.6788 million kW, including 5.2 million kW from thermal power, 469,300 kW from wind power, and 9,500 kW from solar power[35]. - In 2020, the company achieved a total electricity generation of 21.26 billion kWh, a decrease of 5.3% year-on-year, with thermal power down 5.85%, while wind power increased by 48.17% and solar power by 2.88%[43]. Investment and Projects - The company completed investments of CNY 1.864 billion in new energy projects, including wind power projects that have commenced operations by the end of the reporting period[36]. - The company plans to enhance profitability further with the commissioning of wind power projects totaling 225,000 kW in Inner Mongolia and 96,000 kW in Liaoning by year-end[51]. - The company aims to achieve a clean energy installed capacity ratio of 50% by 2035, with a target of 10 million kilowatts in total installed capacity[93]. - The company plans to expand its heating market in Shenyang and develop wind and solar energy projects as part of its strategic goals[93]. Environmental and Social Responsibility - The company implemented 11 poverty alleviation projects in 2020, investing CNY 1.655 million in these initiatives[42]. - The company’s VOCs pollution reduction efforts resulted in a total reduction of over 10% in emissions from key regions and industries[33]. - The company has achieved ultra-low emissions for air pollutants from all thermal power units[146]. - The company has invested 130.5 million RMB in various projects aimed at improving local infrastructure and living conditions[141]. - The company has actively participated in local epidemic prevention efforts during the reporting period[139]. Governance and Compliance - The company received a standard unqualified audit report from Tianzhi International Accounting Firm[4]. - The company has established a sound internal control and financial accounting system in compliance with relevant laws and regulations, ensuring the safety of its financial activities[109]. - The company emphasized the importance of adhering to the laws and regulations, ensuring compliance with the Company Law of the People's Republic of China and the Shanghai Stock Exchange listing rules[107]. - The company is focused on maintaining operational independence, ensuring it has the necessary assets, personnel, qualifications, and capabilities to operate independently in the market[108]. Related Party Transactions - The total amount of related party transactions during the reporting period reached 1,606,004,968.15 RMB, primarily for coal procurement and engineering services[119]. - The company has ongoing engineering service contracts with multiple related parties, indicating a stable revenue stream from these services[124]. - The company’s related party transactions include significant amounts with various group companies, indicating a robust inter-company financial relationship[126]. Future Outlook - The company anticipates structural changes in energy production and consumption, promoting a new development stage in the energy sector[91]. - The company plans to optimize its asset structure and improve its continuous profitability capabilities in 2021[94]. - The company expects a stable annual growth rate of approximately 2.5% in primary energy demand during the 14th Five-Year Plan period[92].