SDIC Power(SH:600886)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was approximately CNY 43.68 billion, an increase of 11.09% compared to 2020 [16]. - The net profit attributable to shareholders for 2021 was approximately CNY 2.44 billion, a decrease of 55.82% from the previous year [16]. - The net cash flow from operating activities for 2021 was approximately CNY 14.63 billion, down 29.46% year-on-year [16]. - The total assets at the end of 2021 were approximately CNY 241.37 billion, reflecting a growth of 5.44% compared to the end of 2020 [16]. - The basic earnings per share for 2021 was CNY 0.3202, a decrease of 58.79% from 2020 [17]. - The weighted average return on equity for 2021 was 5.34%, down 8.44 percentage points from the previous year [17]. - The company reported a net profit of approximately CNY 1.12 billion in Q3 2021, while Q4 2021 saw a net loss of approximately CNY 1.02 billion [19]. - Non-recurring gains and losses totaled approximately CNY 266.13 million in 2021, significantly lower than CNY 742.01 million in 2020 [20]. - The company's net assets attributable to shareholders at the end of 2021 were approximately CNY 51.46 billion, an increase of 8.96% from the end of 2020 [16]. Dividend and Share Capital - The company proposed a cash dividend of RMB 0.1635 per share, totaling approximately RMB 1,218,758,396.81, which accounts for 50% of the net profit attributable to shareholders for the year [2]. - The total share capital at the end of 2021 was 7,454,179,797 shares [2]. Audit and Compliance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm [2]. - The company’s financial report is signed and sealed by the responsible persons, ensuring its authenticity and completeness [4]. - The company is committed to maintaining transparency and accuracy in its financial disclosures [2]. - The board of directors attended the board meeting, ensuring collective responsibility for the report's content [2]. Risk Management - The company emphasizes the importance of risk awareness regarding future development strategies and operational plans [2]. - The management discussed potential risks that may impact the company's operations and development [2]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties [2]. - The company has not violated decision-making procedures for external guarantees [2]. Operational Highlights - The company's power generation reached 153.865 billion kWh, an increase of 3.61% year-on-year, while the on-grid electricity price was 0.319 yuan/kWh, up 5.98% year-on-year [23]. - Clean energy installed capacity accounted for 67.20% of the total installed capacity, with a year-on-year increase of 4.53 percentage points, totaling 24.3375 million kW [23]. - The company completed the acquisition of four renewable energy companies and secured development rights for several clean energy projects, expanding into new regions including Hainan and Anhui [24]. - The company successfully launched its first energy storage project in Jiangsu and made progress in developing pumped storage projects [24]. - The company achieved a reduction in coal procurement costs through increased long-term contract fulfillment and proactive market negotiations [26]. Financial Strategy and Investments - The company completed a targeted issuance of 4 billion yuan in perpetual bonds, reducing financial expenses and enhancing direct financing capabilities [26]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency [16]. - The company plans to raise 10.2 billion RMB through domestic financing in 2022, utilizing various bond instruments [91]. - The company anticipates a power demand growth rate of over 5% during the "14th Five-Year Plan" period [87]. Governance and Management - The company held 9 shareholder meetings, 16 board meetings, and 8 supervisory board meetings during the reporting period, ensuring compliance with governance regulations [103]. - The company has established a management system for insider information, completing regular reporting and registration without any insider trading incidents [106]. - The company has set up specialized committees under the board of directors to enhance decision-making and oversight functions [103]. - The total pre-tax remuneration for Chairman Zhu Jiwei during the reporting period was CNY 1.6378 million [110]. - The company has maintained independence from its controlling shareholder in business, personnel, and financial aspects, ensuring self-responsibility for profits and risks [107]. Environmental and Social Responsibility - The company actively responded to carbon reduction goals by enhancing its clean energy supply system and promoting energy-saving technologies [148]. - The company contributed a total of 9.93 million yuan in donations and support for poverty alleviation and rural revitalization efforts [151]. - The company has established pollution prevention facilities in compliance with national and local regulations, ensuring their proper operation [139]. - The company conducted environmental impact assessments for all construction projects as required [140]. Future Outlook - The company forecasts a nationwide electricity consumption of 8.7 trillion to 8.8 trillion kWh in 2022, representing a year-on-year growth of 5%-6% [85]. - The company aims to reach a controlled installed capacity of 50 million kW by the end of the "14th Five-Year Plan," with clean energy accounting for about 72% [89]. - The company plans to invest in international markets while navigating new opportunities and challenges [88].