Shenergy(SH:600642)2020-04-27 16:00Financial Performance - The company's operating revenue for 2019 was approximately ¥38.84 billion, an increase of 7.23% compared to ¥36.22 billion in 2018[12]. - The net profit attributable to shareholders for 2019 was approximately ¥2.29 billion, representing a growth of 25.22% from ¥1.83 billion in 2018[12]. - The net cash flow from operating activities increased by 82.46% to approximately ¥5.05 billion in 2019, up from ¥2.77 billion in 2018[12]. - The total assets at the end of 2019 reached approximately ¥67.94 billion, a 13.88% increase from ¥59.66 billion at the end of 2018[14]. - The net assets attributable to shareholders increased by 14.07% to approximately ¥29.60 billion at the end of 2019, compared to ¥25.95 billion at the end of 2018[14]. - Basic earnings per share increased by 20.46% to CNY 0.483 in 2019 compared to CNY 0.401 in 2018[15]. - The company reported a weighted average return on equity of 8.22% in 2019, up from 7.08% in 2018, indicating improved profitability[15]. - The company achieved a controlled power generation of 37.05 billion kWh, completing 101.5% of the annual plan, with a year-on-year increase of 1.8%[28]. - The company's operating revenue reached 38.841 billion yuan, with a net profit of 2.286 billion yuan, representing a year-on-year growth of 25%[28]. - The total comprehensive income for 2019 was RMB 2,867,604,503.40, compared to RMB 1,888,383,946.74 in 2018, an increase of 52.0%[180]. Investment and Expansion - The company is actively expanding its clean energy investments, with a focus on natural gas, wind, and solar power, aligning with national energy policies[19]. - The company is exploring overseas business opportunities as part of its "Belt and Road" initiative strategy, aiming for international market expansion[19]. - The company plans to expand its renewable energy capacity, particularly in wind and solar power, to enhance its market position[49]. - The company has a total of 1,222,280,000 CNY in capital expenditures for various projects, with significant investments in 淮北申能发电有限公司 and 上海申能新能源投资有限公司[57][58]. - The company aims to increase its total installed capacity of new energy projects to 3 million kilowatts, focusing on competitive pricing and timely project completion[71]. Environmental and Safety Measures - The company has committed to improving safety and environmental protection measures, ensuring stable production across its energy supply chain[71]. - The company has implemented energy-saving and environmental protection projects to effectively reduce total pollutant emissions[113]. - The average desulfurization efficiency of coal-fired power plants reached over 98.5%, while the average denitrification efficiency exceeded 90%[30]. - The company has reduced sulfur dioxide emissions by approximately 157,000 tons and nitrogen oxides by about 19,000 tons in 2019[113]. - The company maintained pollutant emissions below national standards, achieving ultra-low emissions for smoke, sulfur dioxide, and nitrogen oxides[115]. Corporate Governance - The company has a strong focus on corporate governance, with independent directors holding significant expertise in accounting and finance[140]. - The company’s management team has extensive experience in energy and investment sectors, positioning it well for future growth[141]. - The company is committed to maintaining transparency and accountability in its financial reporting practices[141]. - There were no significant deficiencies in internal controls reported during the year, indicating effective governance practices[164]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2019[168]. Shareholder Information - The company plans to distribute a cash dividend of ¥2.20 per 10 shares, totaling approximately ¥1.08 billion in cash dividends[4]. - The cash dividend per 10 shares was RMB 2.20 in 2019, an increase from RMB 2.00 in 2018[78]. - The largest shareholder, Sheneng (Group) Co., Ltd., holds 2,626,545,766 shares, representing 53.47% of total shares[130]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[79]. - The company has committed to not reducing its shareholdings in the past six months and for six months following a non-public offering[80]. Operational Efficiency - The average coal consumption for power generation was reduced to 285.5 grams/kWh, a decrease of 3.2 grams/kWh year-on-year[31]. - The company completed 152 technical transformation projects, maintaining industry-leading energy consumption indicators[31]. - The company achieved a power supply coal consumption of 285.43 grams per kilowatt-hour in 2019, with a comprehensive plant electricity consumption rate of 4.38%, leading the industry[115]. - The company has implemented a management incentive fund for senior management, following the approved regulations, to enhance talent development and performance[163]. - The company has established emergency response plans for environmental incidents, ensuring preparedness and effective response to minimize pollution impact[117]. Financial Position - The company's total liabilities increased by 54.85%, primarily due to the reclassification of long-term borrowings to current liabilities[47]. - The company's total assets amounted to 67,944,070,511.9 RMB, with total liabilities of 30,079,516,790.21 RMB, and equity attributable to the parent company of 29,603,575,069.37 RMB[128]. - The company's long-term borrowings increased to CNY 11,916,978,689.99 from CNY 11,200,725,014.24, representing a rise of about 6.4%[177]. - The total amount of guarantees provided by the company is 327,093.75 million RMB, which accounts for 11.05% of the company's net assets[102][103]. - The company reported a significant increase in other comprehensive income, which improved to CNY 102,893,919.47 from a loss of CNY 321,180,443.07 in the previous year[177].