DHEP(SH:600744)2021-03-30 16:00Financial Performance - The company's operating revenue for 2020 was CNY 8,255,680,918.70, a decrease of 8.2% compared to CNY 8,993,163,089.16 in 2019[21] - The net profit attributable to shareholders of the listed company was CNY 34,642,462.37, representing a 35.97% increase from CNY 25,477,630.72 in the previous year[21] - The net cash flow from operating activities increased by 83.41% to CNY 2,376,423,603.90 from CNY 1,295,687,519.19 in 2019[21] - The total assets at the end of 2020 were CNY 18,070,202,084.83, down 6.67% from CNY 19,361,668,955.28 at the end of 2019[21] - The basic earnings per share for 2020 was CNY 0.02, doubling from CNY 0.01 in 2019[22] - The weighted average return on net assets increased to 1.12% from 0.83% in 2019, an increase of 0.29 percentage points[22] - The company reported a net profit of CNY 41,180,472.1 in Q4 2020, following a net loss in the first two quarters[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -4,729,401.07, compared to CNY -91,822,793.08 in 2019[21] - The company's net assets attributable to shareholders at the end of 2020 were CNY 3,039,492,861.18, a slight decrease of 1.13% from CNY 3,074,222,030.08 in 2019[21] - The company's cash flow from operating activities increased by 83.41% year-on-year, reaching 2.376 billion yuan[41] - The company's total revenue for the year was approximately 7.98 billion, a decrease of 9.13% compared to the previous year[46] - The total operating cost was approximately 7.18 billion, reflecting a decrease of 9.05% year-on-year[48] - The gross profit margin decreased by 0.07 percentage points to 10.00%[46] - The company achieved a total profit of 0.91 billion, an increase of 0.16 billion year-on-year[48] Cash Flow and Assets - The company's cash and cash equivalents increased by RMB 463 million compared to the end of the previous year, primarily due to prepayments received from the State Grid Hunan Electric Power Company[34] - The company's accounts receivable notes decreased by RMB 275 million, while accounts receivable financing increased by RMB 193 million, attributed to reclassification based on new financial instrument standards[34] - The company's asset-liability ratio stood at 83.61% as of the end of 2020[41] - The total assets at the end of 2020 amounted to 18.070 billion yuan, with current assets of 4.639 billion yuan, representing 25.67% of total assets[59] - The total liabilities at the end of 2020 were 15.109 billion yuan, with current liabilities of 8.218 billion yuan, accounting for 54.40% of total liabilities[62] - Cash and cash equivalents increased by 0.660 billion yuan during the period, resulting in a year-end balance of 1.316 billion yuan[56] - The company's monetary funds at the end of the period were 1.356 billion yuan, representing 7.50% of total assets, an increase of 51.91% compared to the previous period[58] - The accounts receivable decreased by 23.96% to 1.766 billion yuan, while the accounts payable decreased by 22.11% to 1.269 billion yuan[58] - The long-term borrowings increased by 24.65% to 5.220 billion yuan, indicating a rise in financing activities[62] Operational Performance - The total installed capacity of the company reached 5.8455 million kW by the end of 2020, with thermal power accounting for 5240 kW, representing 29.25% of the province's regulated public thermal power capacity[31] - The company achieved a total electricity generation of 20.793 billion kWh, a year-on-year decrease of 7.95%[41] - The total electricity sales volume was 19,267.49 million kWh, a decrease of 7.96% year-on-year[68] - The company's electricity sales revenue was 7.581 billion yuan, a decrease of 9.43% year-on-year[43] - The average coal price for the year was 777.10 yuan/ton, which was 7.30 yuan/ton lower than the average of five major groups in the region[38] - The company maintained a coal consumption rate of 311.37 grams/kWh, a decrease of 2.10 grams/kWh year-on-year[40] - The company's coal-fired power generation accounted for 40% of the province's total regulated coal-fired generation in December[38] - The company's thermal power generation cost was 6,512.45 million RMB, accounting for 79.84% of total costs, which decreased by 10.56% year-on-year[68] Research and Development - Research and development expenses totaled approximately 44.70 million, accounting for 0.54% of total revenue[52] - The number of R&D personnel was 225, representing 3.91% of the total workforce[52] - The company is actively investing in new product development and technology, aiming to enhance its competitive edge in the industry[195] - The management team emphasizes the importance of innovation and technology in driving future growth and maintaining market leadership[195] Environmental and Social Responsibility - The company is committed to addressing risks associated with the transition to a low-carbon energy structure, which may affect its operational strategies[96] - The company has not faced any environmental penalties or pollution incidents during the reporting period[156] - The company’s subsidiaries have established emergency response plans for environmental pollution incidents and conducted regular drills[157] - The company achieved a total sulfur dioxide emission of 499.3 tons with a concentration of 22.38 mg/Nm³, which is below the standard limit of 200 mg/Nm³[161] - The company aims to reduce the poverty incidence in Longzhu Village to below 2% within one year and ensure the village exits the national poverty list[131] - The company plans to implement various poverty alleviation measures, including employment training and support for local industries[132] - The company will ensure that all eligible children in poverty-stricken villages complete 9 years of compulsory education[132] - The company is committed to providing basic medical insurance and healthcare services to all impoverished residents[132] - The company will focus on developing tourism resources in impoverished villages to increase local income[132] - The company aims to enhance the living conditions of impoverished villagers through improved access to safe drinking water and electricity[132] - The company will engage agricultural experts to provide technology training for local farmers to boost productivity[132] - The company will implement ecological poverty alleviation strategies to promote sustainable development in targeted areas[133] Future Outlook and Strategy - The company anticipates a recovery in electricity demand growth in 2021, influenced by stable economic performance and the growth of high-tech industries.[91] - The company plans to focus on the development of photovoltaic and wind power, aiming for a clean, low-carbon, safe, and efficient energy service model during the "14th Five-Year Plan" period.[94] - The company is considering strategic mergers and acquisitions to bolster its market position and diversify its offerings[195] - Future outlook remains positive, with guidance suggesting continued revenue growth and potential expansion into new markets[195] - Overall, the company is well-positioned to capitalize on emerging opportunities in the market, supported by a robust financial foundation[195]