DTPC(SH:600719)2019-03-22 16:00Financial Performance - In 2018, the company achieved a net profit attributable to shareholders of 2,706,870.20 CNY, a decrease of 19.36% compared to 2017[5]. - The total operating revenue for 2018 was 730,810,808.13 CNY, reflecting a decline of 6.55% from the previous year[20]. - Basic earnings per share for 2018 were 0.007 CNY, down 12.50% from 0.008 CNY in 2017[21]. - The weighted average return on net assets was 0.37%, a decrease of 0.09 percentage points from the previous year[21]. - The company reported a significant increase in net profit attributable to shareholders after deducting non-recurring gains and losses, reaching 5,094,400.21 CNY, compared to a loss of 4,930,496.73 CNY in 2017[20]. - The net profit for 2018 was 2.71 million RMB, representing a year-on-year decline of 19.36%[35]. - The total profit fell by 48.95% to ¥4,600,358.57, down from ¥9,011,533.54 in the previous year[36]. - The company reported a net profit margin decline due to reduced operating revenue, impacting overall profitability[146]. Cash Flow and Investments - The net cash flow from operating activities was -86,121,951.74 CNY, a significant decrease of 262.79% compared to 2017[20]. - Investment activities generated a net cash outflow of -¥269,304,842.53, a 136.93% increase in outflow from -¥113,664,061.66[45]. - Financing activities resulted in a net cash inflow of ¥355,550,234.48, a significant increase of 455.90% from ¥63,959,039.07[45]. - The cash outflow for purchasing goods and services was 660,298,712.29 RMB, compared to 692,149,464.21 RMB in the previous year, reflecting a decrease of approximately 4.6%[154]. - The cash inflow from operating activities totaled 759,783,561.61 RMB, a decrease from 811,153,965.72 RMB in the previous year, representing a decline of approximately 6.3%[155]. Assets and Liabilities - Total assets increased by 30.96% year-on-year, reaching 2,064,579,556.07 CNY at the end of 2018[20]. - The total liabilities rose to CNY 1,336,230,146.36, up from CNY 849,667,632.06, indicating a 57.3% increase[142]. - The company's total equity reached CNY 728,349,409.71, slightly up from CNY 726,856,338.31, reflecting a growth of 0.2%[142]. - Short-term borrowings increased significantly to CNY 560,000,000.00 from CNY 280,275,000.00, marking a 100% rise[143]. - The total current assets increased to ¥636,510,463.68 from ¥440,917,535.32, reflecting a growth of approximately 44.4% year-over-year[141]. Operational Highlights - The company completed a total electricity generation of 443.67 million kWh, a decrease of 8.292 million kWh year-on-year, primarily due to low temperatures in the first quarter and high coal prices in the fourth quarter[35]. - The total steam sales volume for the year was 652,000 tons, a slight decrease of 0.6 million tons year-on-year, attributed to higher temperatures in the fourth quarter[35]. - The area charged for heating services reached 16.77 million square meters, an increase of 390,000 square meters year-on-year[35]. - The company has focused on upgrading heat sources and enhancing production efficiency, including the completion of desulfurization modifications at the Beihai Power Plant[28]. - The company is actively developing clean heating technologies and has initiated various pilot projects for renewable energy applications[29]. Shareholder Information - The company proposed a cash dividend of 0.05 CNY per share, totaling 2,022,998 CNY for distribution to shareholders[5]. - The total number of ordinary shareholders increased from 22,008 to 23,128 during the reporting period[94]. - The largest shareholder, Dalian Thermal Power Group Co., Ltd., holds 133,133,784 shares, representing 32.91% of total shares, with 16,000,000 shares frozen[96]. - Wang Kaiguo, a significant shareholder, increased his holdings by 7,389,244 shares, totaling 17,463,919 shares, which is 4.32% of total shares[96]. Risk Management - The company has outlined various risks including industry and policy risks in its annual report, urging investors to pay attention[7]. - The company faces risks from fluctuating raw material prices, particularly coal, which may negatively impact production cost control[61]. - Environmental protection investments are expected to increase, leading to higher operational cost pressures due to the need for significant fixed asset investments[61]. - The company is committed to addressing aging equipment risks through regular maintenance and upgrades, which may incur rising costs[61]. Corporate Governance - The company has engaged Zhongzhun Accounting Firm for auditing services, with a fee of 50,000 RMB for a two-year term[71]. - The company has ensured compliance with corporate governance standards, maintaining independence from its controlling shareholder[120]. - The board of directors held 5 meetings during the year, with 2 conducted in person and 3 via communication methods[124]. - The internal control audit report issued by Zhongzhun Accounting Firm provided a standard unqualified opinion, indicating no significant deficiencies in internal controls[128]. Environmental Compliance - In 2018, the actual emissions from the Beihai Power Plant were 30.52 tons of smoke, 43.41 tons of sulfur dioxide, and 226.08 tons of nitrogen oxides, all below the allowed limits[83]. - The Beihai Power Plant's NOx emissions have been stabilized below 50mg/m3 after the 2018 boiler renovation, meeting ultra-low emission standards[85]. - The company has not incurred any environmental fines in 2018, indicating effective compliance with environmental regulations[86]. - The company continues to prioritize green and clean production, focusing on resource conservation and environmental protection through technological innovation[81].