申能股份(600642) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was CNY 25,312,773,856.77, representing a 28.43% increase compared to CNY 19,708,858,717.41 in 2020[13] - The net profit attributable to shareholders for 2021 was CNY 1,642,136,082.82, a decrease of 31.36% from CNY 2,392,563,365.89 in 2020[13] - The net profit after deducting non-recurring gains and losses was CNY 228,390,114.96, down 90.46% from CNY 2,393,923,097.53 in the previous year[13] - The net cash flow from operating activities was CNY 3,199,702,417.80, a decline of 33.96% compared to CNY 4,845,353,556.81 in 2020[13] - The total assets at the end of 2021 were CNY 89,636,555,192.26, an increase of 17.48% from CNY 76,298,435,588.90 at the end of 2020[13] - The net assets attributable to shareholders were CNY 30,841,926,436.25, showing a slight decrease of 0.02% from CNY 30,848,517,799.13 in 2020[13] - The basic earnings per share for 2021 were CNY 0.334, down 31.42% from CNY 0.487 in 2020[14] - The diluted earnings per share also stood at CNY 0.334, reflecting the same percentage decrease as basic earnings[14] - The weighted average return on equity for 2021 was 5.28%, a decrease of 2.63 percentage points from 7.91% in 2020[15] Revenue and Growth - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling CNY 981,792,457.20 (including tax) based on the total share capital as of December 31, 2021[2] - In 2021, the company's controlled power generation reached 48.48 billion kWh, a year-on-year increase of 23.2%[23] - The company's operating revenue for 2021 was 25.313 billion RMB, representing a year-on-year growth of 28.43%[23] - The net profit attributable to shareholders for 2021 was 1.642 billion RMB, maintaining a leading position in the industry[23] - The company achieved a controlled coal consumption of 282.7 grams/kWh and an average coal price of 1,052 RMB/ton[23] - The installed capacity of the company reached 13.9244 million kW by the end of 2021, an increase of 10.27% year-on-year, with renewable energy capacity contributing significantly to profit growth[23] Market and Operations - The company participated in market transactions of 15.446 billion kWh of electricity in 2021, including the first national green electricity transaction[25] - The company obtained 24 patent authorizations in 2021, with a total of 161 effective intellectual properties[25] - The company is actively expanding upstream oil and gas resources and has initiated exploration projects in various regions[24] - The company has implemented a "carbon neutrality" strategy, including the establishment of a carbon neutrality research institute and participation in the first batch of national carbon emission trading[24] - The company has strengthened safety production and environmental protection measures, achieving no major accidents throughout the year[23] Energy Generation and Consumption - The coal power business reported operating revenue of CNY 9.49 billion, with a gross margin decrease of 19.54 percentage points[37] - The gas power business generated CNY 3.96 billion in revenue, with a gross margin decrease of 2.20 percentage points[37] - The wind power business achieved operating revenue of CNY 1.92 billion, with a gross margin increase of 3.13 percentage points[37] - The company invested heavily in clean energy, with significant achievements in wind and solar power sectors[27] - The company’s controlled power generation volume was 48.48 billion kWh, a year-on-year increase of 23.2%, contributing to approximately 33% of the total power generation in Shanghai[34] Financial Management and Investments - Cash received from operating activities increased by 55.35% to approximately $459.25 million in 2021 from $295.62 million in 2020, primarily due to increased government subsidies and interest income[48] - Cash paid for purchasing goods and services rose by 54.14% to approximately $21.36 billion in 2021 from $13.85 billion in 2020, mainly due to rising coal costs[48] - Cash recovered from investments surged by 4827.96% to approximately $1.07 billion in 2021 from $21.74 million in 2020, attributed to the sale of a 5% equity stake in Shanghai Shangguo Asset Management Co., Ltd.[48] - Accounts receivable increased by 33.25% to approximately $6.31 billion in 2021 from $4.73 billion in 2020, mainly due to increased receivables from subsidiaries[51] - Inventory rose by 87.43% to approximately $1.16 billion in 2021 from $620.32 million in 2020, driven by both price and volume increases in coal[51] Corporate Governance and Compliance - The company held 1 shareholders' meeting and 7 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[81] - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance, ensuring autonomous operational capabilities[82] - The company has a fully independent financial department with a sound financial management system, preventing interference from the controlling shareholder[84] - The company has implemented stock incentive plans, resulting in significant increases in shareholdings for certain executives, such as an increase of 569,000 shares for the vice chairman[88] - The company emphasizes effective communication with investors, maintaining a positive interaction through various channels[81] Environmental and Social Responsibility - The company is committed to complying with national environmental laws and exploring energy-saving and environmental protection technologies[79] - The company has successfully helped local communities achieve poverty alleviation through various initiatives, including infrastructure improvements and economic support[129] - The company has made commitments regarding financial safety and compliance, ensuring no misuse of funds through its financial company[131] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[133] Future Outlook and Strategy - The company plans to continue expanding its renewable energy capacity, particularly in wind and solar sectors[54] - The company is focusing on green transformation, with key projects including the development of zero-carbon islands and offshore wind power projects in Hainan[77] - The company plans to actively explore diversified markets, including floating electricity pricing and cross-regional trading, to increase market revenue[78] - The company is committed to achieving "dual carbon" goals by exploring low-carbon technologies and conducting carbon emission accounting[78] - Future guidance indicates a continued upward trend in revenue, with expectations of further market expansion and potential acquisitions[91]