NYOCOR Co.,Ltd.(SH:600821)2021-04-29 16:00Financial Performance - The company achieved a net profit attributable to shareholders of 56.37 million yuan in 2020[7]. - As of the end of 2020, the company's undistributed profits amounted to -777.47 million yuan[7]. - The company will not distribute profits or increase capital reserves in 2020 due to previous losses[7]. - The company's operating revenue for 2020 was approximately ¥1.36 billion, a significant increase of 173.45% compared to ¥496.2 million in 2019[32]. - The net profit attributable to shareholders of the listed company was approximately ¥56.37 million, recovering from a loss of ¥197.93 million in the previous year[32]. - The net cash flow from operating activities reached approximately ¥759.94 million, a substantial increase of 428.60% from ¥143.76 million in 2019[32]. - The company reported a net profit of approximately -¥17.58 million after deducting non-recurring gains and losses, showing an improvement from -¥228.26 million in the previous year[32]. - The net assets attributable to shareholders of the listed company amounted to approximately CNY 3.16 billion, an increase of 268.45% compared to the previous period[35]. - Total assets reached approximately CNY 14.32 billion, reflecting a year-on-year increase of 19.20%[35]. - Basic earnings per share (EPS) improved to CNY 0.07, a significant increase of 117.50% compared to the adjusted EPS of -0.40 in the previous year[36]. - The weighted average return on net assets rose to 3.53%, an increase of 44.78 percentage points from -41.25% in the previous year[36]. - The company achieved a total profit of RMB 236 million in 2020, compared to a loss of RMB 143 million in the previous year[68]. - The company’s total operating costs for renewable energy generation were ¥500,827,371.81, reflecting a year-over-year increase of 181.91%[72]. - The company reported a total of 650.5 MW of newly commissioned grid-connected capacity during the reporting period[105]. Operational Highlights - The company has multiple ongoing projects, including a 100 MW photovoltaic project in Jiangsu and a 200 MW photovoltaic project in Ningxia, indicating a strong focus on renewable energy expansion[20]. - The company is actively involved in various wind and solar energy projects, with a total installed capacity of over 1,000 MW across different locations[20]. - The company operates mainly through its wholly-owned subsidiary, focusing on the development, investment, construction, and operation of solar and wind power plants[50]. - The company has ongoing projects with a total capacity of 70 MW in Heilongjiang, which is currently under construction[102]. - The company has multiple solar projects across various regions, with capacities ranging from 10MW to 200MW, including a 100MW project in Ningxia with a national subsidy of 0.6405 CNY/W for 20 years[115]. - The company is expanding its project portfolio with new initiatives, including a 100MW project in Xinjiang, which has a reported revenue of 18,158.98 million CNY and a net profit of 4,365.14 million CNY[119]. Strategic Initiatives - The company has established a strategic partnership with CITIC Securities for financial advisory services, enhancing its financial management capabilities[31]. - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and revenue growth[98]. - The company plans to increase its investment in clean energy technologies, focusing on lithium battery anode materials, renewable hydrogen production, and energy digitalization[138]. - The company aims to establish a clean energy investment ecosystem, leveraging multi-energy complementarity and intelligent collaboration in its operations[138]. - The company is focused on building a market-oriented operational mechanism and a high-quality talent team to support its growth in the renewable energy sector[138]. Risk Management - There are no significant risks affecting the company's normal operations during the reporting period[9]. - The report includes a detailed description of potential risks faced by the company[9]. - The company faces risks related to potential changes in supportive policies for renewable energy, which could impact its business operations and profitability[143]. - The company is exposed to risks from fluctuations in electricity prices and subsidies for new photovoltaic and wind power projects, which may lead to reduced sales prices[143]. Governance and Compliance - The company has provided a standard unqualified audit report from Da Xin Accounting Firm[5]. - All board members attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company has committed to transparency by selecting Shanghai Securities News as its primary information disclosure media[27]. - The company has maintained a strong governance structure to ensure compliance and operational integrity[199]. - The company has implemented measures to protect the interests of all shareholders, particularly small and medium-sized shareholders, in accordance with relevant laws and regulations[199]. Environmental Impact - The company reported a total power generation of 2.282 billion kWh during the reporting period, which is equivalent to a reduction of 748,000 tons of standard coal consumption, 2.275 million tons of CO2 emissions, and 69,000 tons of SO2 emissions compared to coal-fired power generation[199]. - The company aims to contribute to China's carbon peak and carbon neutrality goals, aligning with national policies to enhance renewable energy capacity[50]. - The government has implemented various policies to support the renewable energy sector, including guidelines for solar and wind power development during the 13th Five-Year Plan[58]. Financial Commitments - The company has not distributed profits in the past three years, with a net profit of CNY 56.37 million in 2020, and plans to use profits to cover previous losses[151]. - The total net profit commitment for the years 2020, 2021, and 2022 is not less than RMB 903.48 million[173]. - The performance commitment for the audited net profit for 2020 was set at no less than 300.22 million RMB[185]. - The performance commitment for the combined net profit for 2020 and 2021 was set at no less than 608.12 million RMB[185].