*ST金山(600396) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 6,574,339,046.18, a decrease of 9.77% compared to CNY 7,286,516,130.81 in 2020[21]. - The net profit attributable to shareholders of the listed company was a loss of CNY 1,920,001,439.10, a decline of 2,449.42% from a profit of CNY 81,722,213.97 in 2020[22]. - The net cash flow from operating activities decreased by 86.91% to CNY 139,151,529.90 from CNY 1,062,920,380.12 in the previous year[22]. - Basic earnings per share decreased to -1.3037 CNY from 0.0555 CNY in the previous year, a decline of 2,449.01%[23]. - Operating revenue for the year was 6.574 billion yuan, a decrease of 9.77% year-on-year, while the total profit was -2.191 billion yuan, a decrease of 22.28 billion yuan[46][48]. - The net profit attributable to shareholders was -1.920 billion yuan, a decrease of 20.02% year-on-year, with a cumulative coal consumption of 299.99 grams/kWh[46]. - Operating costs increased by 20.04% year-on-year to 7.706 billion yuan, primarily due to rising coal prices[49][50]. Assets and Liabilities - The total assets at the end of 2021 were CNY 20,946,277,330.45, an increase of 2.40% from CNY 20,454,753,752.51 at the end of 2020[22]. - The net assets attributable to shareholders of the listed company decreased by 90.56% to CNY 199,679,230.86 from CNY 2,115,996,968.71 at the end of 2020[22]. - The company's total liabilities amounted to 20.670 billion yuan, an increase of 2.627 billion yuan, primarily due to new loans[73]. - The company's asset-liability ratio exceeds 95%, leading to increased financing pressure due to significant profit decline from rising coal prices[99]. Operational Strategies - The company implemented effective operational strategies to mitigate the impact of high coal prices, including optimizing operational strategies and enhancing communication with government departments[34]. - The company plans to optimize its operational strategies to mitigate losses from high coal prices and improve efficiency in power generation[50][56]. - The company is focusing on enhancing equipment management and safety measures to ensure stable and efficient operations in both coal and renewable energy sectors[45]. Environmental Compliance - The company achieved a total emission of 192.48 tons of particulate matter, 1200.80 tons of sulfur dioxide, and 2569.51 tons of nitrogen oxides in 2021[1]. - The company’s dust removal facilities have an operational rate of 100% with an efficiency greater than 99.9%, while the desulfurization facilities also have a 100% operational rate with an efficiency of 98.46%[2]. - The company’s coal-fired power plants have completed ultra-low emission upgrades, ensuring compliance with stringent emission standards[4]. - The company has established a comprehensive environmental management information system, regularly updating and uploading data to the pollution permit management platform[7]. Governance and Compliance - The company emphasizes the importance of legal compliance and governance efficiency in its operational strategy[97]. - The company has established a transparent performance evaluation system and incentive mechanisms for senior management, linking their compensation to performance outcomes[148]. - The company has revised its related party transaction management measures to ensure compliance and timely review of transactions[155]. - The company has established independent financial management systems to ensure operational autonomy from Huadian Group[179]. Market and Growth Initiatives - The company is actively expanding its heating market to create new profit growth points[96]. - The company plans to enter two new international markets by Q3 2024, aiming for a 5% increase in overall revenue[119]. - The company completed a strategic acquisition valued at 500 million, expected to enhance its product offerings[117]. - The company is investing 200 million in R&D for new technologies aimed at enhancing operational efficiency[118]. Employee and Management Changes - The total number of employees in the parent company is 529, while the total number of employees in major subsidiaries is 2,574, resulting in a combined total of 3,103 employees[140]. - The company has appointed new senior management personnel, including the hiring of Wei Ning as Vice General Manager and Liu Wei as Vice General Manager and General Counsel[135]. - The company conducted 47 training sessions throughout the year, achieving a training plan completion rate of 100%, with a total of 5,241 participants[143]. Related Party Transactions - The company reported a total of 3,857,815,311.23 RMB in related party transactions, primarily for coal procurement and engineering services[189]. - The company provided services to various subsidiaries, with the highest service revenue from Huadian Qingdao Environmental Technology Co., Ltd. at CNY 652,477.37[191]. - The company had a receivable balance of CNY 44,705,237.65 from Fuxin Baiyinhua Coal Sales Co., Ltd. at the end of the reporting period[193].