TEC(SH:600780)2022-04-26 16:00Financial Performance - The company's operating revenue for 2021 was approximately RMB 7.83 billion, an increase of 12.80% compared to RMB 6.94 billion in 2020[24]. - The net profit attributable to shareholders for 2021 was RMB 186.10 million, a decrease of 37.95% from RMB 299.91 million in 2020[24]. - The net profit after deducting non-recurring gains and losses was RMB 166.80 million, down 42.73% from RMB 291.23 million in the previous year[24]. - The net cash flow from operating activities was RMB 910.33 million, a decline of 11.66% compared to RMB 1.03 billion in 2020[24]. - The total assets at the end of 2021 were RMB 8.57 billion, reflecting a 3.61% increase from RMB 8.27 billion at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were RMB 5.75 billion, up 1.81% from RMB 5.65 billion at the end of 2020[24]. - Basic earnings per share for 2021 were RMB 0.1623, a decrease of 37.96% from RMB 0.2616 in 2020[25]. - The weighted average return on net assets was 3.27%, down 2.17 percentage points from 5.44% in 2020[25]. - The company recorded non-operating income of ¥12,933,209.93 in 2021, which is a decrease compared to ¥14,779,836.06 in 2020[29]. - The total non-recurring gains and losses amounted to ¥19,300,057.55 in 2021, compared to ¥8,678,249.59 in 2020[31]. Revenue and Profit Trends - In Q1 2021, the company reported operating revenue of ¥1,940,272,306.57, while in Q4 2021, it increased to ¥2,411,060,790.13, showing a significant growth in revenue[28]. - The net profit attributable to shareholders was ¥116,946,291.75 in Q1 2021, but turned negative in Q2 and Q3 with losses of ¥8,892,807.92 and ¥99,485,805.04 respectively, before recovering to ¥177,530,235.35 in Q4 2021[28]. - The company’s financial performance indicates a strong recovery trend in Q4 2021, with significant improvements in both revenue and net profit[28]. - The company achieved a total electricity generation of 56.07 billion kWh, with market-based trading accounting for 94% of the total grid electricity[35]. - The operating revenue for the year was 7.831 billion yuan, with a net profit attributable to shareholders of 186 million yuan, resulting in an earnings per share of 0.1623 yuan[35]. Operational Efficiency and Strategy - The company maintained a comprehensive line loss rate that continued to decline, reflecting improved operational efficiency[35]. - The company successfully completed its power supply tasks despite the challenging environment, ensuring stable fuel supply and optimizing electricity pricing strategies[35]. - The company plans to continue focusing on operational efficiency and exploring new market opportunities to drive future growth[28]. - The company is actively pursuing asset restructuring to transition towards high-end equipment manufacturing, aiming to increase the asset securitization rate[35]. - The company is committed to high-quality development, focusing on optimizing its power and equipment industries while ensuring stable asset operations[98]. Governance and Compliance - The company conducted 13 board meetings and approved 42 resolutions, emphasizing compliance and governance[38]. - The internal control system was optimized, with no major defects reported throughout the year, enhancing risk management capabilities[38]. - The company has not encountered any significant governance violations during the reporting period, maintaining its status in the Shanghai Stock Exchange governance index[106]. - The company maintains independence in assets, personnel, finance, institutions, and business, adhering to a governance structure that ensures clear responsibilities and effective checks and balances[108]. - The company has a governance structure that includes a manager for the governance department since September 2020[125]. Environmental and Social Responsibility - The company reported emissions for 2021: particulate matter at 69.82 tons, sulfur dioxide at 334.52 tons, and nitrogen oxides at 947.04 tons, all meeting regulatory standards[152]. - The average emission concentrations for 2021 were: particulate matter at 2.26 mg/m³, sulfur dioxide at 13.4 mg/m³, and nitrogen oxides at 31.03 mg/m³, indicating compliance with environmental standards[152]. - The company achieved zero wastewater discharge and completed a chemical wastewater filtration system upgrade, enhancing wastewater reuse rates[153]. - The company has implemented a comprehensive environmental management system, achieving all environmental indicators within regulatory limits[159]. - The company is engaged in ongoing environmental monitoring and has not faced any administrative penalties related to environmental issues during the reporting period[156]. Market Position and Future Outlook - The company holds nearly 70% market share in the heating market of Yangquan City, benefiting from priority generation rights and enhanced operational flexibility[93]. - The company plans to expand its market presence by investing in renewable energy projects, aiming for a 20% increase in clean energy output by 2023[122]. - The company has set a performance guidance for 2022, projecting a revenue growth of 10% to 11 billion CNY[122]. - The forecast for total electricity consumption in 2022 is between 8.7 trillion kWh and 8.8 trillion kWh, representing a year-on-year growth of 5%-6%[42]. - The company plans to enhance its digital services, aiming for a 15% increase in digital service revenue by 2023[122].