CYPC(SH:600900)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was CNY 55,646,253,991.83, a decrease of 3.70% compared to CNY 57,783,367,039.83 in 2020[16]. - The net profit attributable to shareholders for 2021 was CNY 26,272,998,503.24, showing a slight decrease of 0.09% from CNY 26,297,890,222.70 in 2020[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 24,141,419,619.03, down 7.77% from CNY 26,175,647,473.85 in 2020[16]. - The net cash flow from operating activities for 2021 was CNY 35,732,461,733.26, a decrease of 12.93% compared to CNY 41,036,864,400.40 in 2020[16]. - Basic earnings per share for 2021 was CNY 1.1553, a decrease of 2.54% compared to 2020[19]. - Diluted earnings per share for 2021 was also CNY 1.1553, reflecting the same percentage decrease[19]. - The total profit for the year was 32.409 billion yuan, a slight decrease of 0.14% compared to the previous year[36]. - The company reported a net profit attributable to the parent company of 26.273 billion yuan, a decrease of 0.09% year-on-year[36]. Assets and Liabilities - The total assets at the end of 2021 were CNY 328,563,281,639.20, a decrease of 0.68% from CNY 330,827,096,559.03 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were CNY 181,063,819,486.27, an increase of 5.20% from CNY 172,118,146,991.60 at the end of 2020[18]. - Current liabilities totaled CNY 53,406,216,174.22, down 31.9% from CNY 78,466,607,623.54 in the previous year[170]. - Non-current liabilities increased to CNY 84,868,842,576.28, up 14.6% from CNY 74,038,882,459.75 in 2020[170]. - Total liabilities amounted to CNY 138,275,058,750.50, a decrease of 9.3% from CNY 152,505,490,083.29 in 2020[170]. - Shareholders' equity reached CNY 190,288,222,888.70, an increase of 6.1% from CNY 178,321,606,475.74 in the previous year[170]. Cash Flow - The net cash flow from investment activities increased by CNY 29.472 billion, primarily due to the acquisition of the Peru project last year[44]. - The net cash flow from operating activities for Q4 2021 was CNY 14,126,270,444.68, contributing to an annual total of CNY 12,062,447,173.18[20]. - The total cash inflow from investment activities was ¥59,298,963,266.29, down from ¥82,367,600,146.96 in the previous year, reflecting a decline of approximately 28%[180]. - The net cash flow from financing activities was -¥10,385,970,618.79, compared to a positive cash flow of ¥2,617,422,613.43 in 2020, indicating a significant shift in financing strategy[180]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 8.153 per 10 shares, totaling CNY 18,541,437,830.22 for the year 2021[4]. - The company plans to distribute cash dividends of no less than 0.65 CNY per share for the years 2016 to 2020, and at least 70% of the net profit for the years 2021 to 2025[110]. - The total compensation for all directors, supervisors, and senior management amounted to 10.7262 million yuan[82]. Investments and Projects - The company achieved an annual power generation of 208.322 billion kWh, exceeding planned targets[25]. - The company successfully managed flood control with a total flood retention capacity of 17.2 billion cubic meters[25]. - The company participated in the construction of the Baihetan and Wudongde power stations, achieving early operational milestones[25]. - The company completed the acquisition of the Peru Luders project, enhancing its international business capabilities[27]. - The company is actively pursuing strategic investments in renewable energy and integrated energy solutions[33]. Research and Development - Total R&D investment amounted to CNY 64,253.92 million, representing 1.15% of total revenue[41]. - The company is investing 1 billion yuan in R&D for new technologies aimed at improving energy efficiency over the next three years[76]. - The company was awarded 409 patents in the year, including 23 invention patents, reflecting its commitment to technological innovation[28]. Environmental and Social Responsibility - The company has committed to a long-term strategy of green and low-carbon development, actively promoting integrated development of hydropower, wind, and solar energy[106]. - The company implemented 60 responsibility projects in 2021, investing 237 million yuan to support poverty alleviation and rural revitalization efforts[108]. - The company has established an environmental protection department and a dedicated management team to oversee environmental risk control and compliance[104]. Governance and Compliance - The company has received an A-class rating for information disclosure from the Shanghai Stock Exchange, reflecting its commitment to transparency and governance[68]. - The company has not faced any major changes in competition or business operations from its controlling shareholders[69]. - The company is focusing on compliance with regulations regarding major asset restructuring and related transactions[86]. Future Outlook - The company anticipates a 5%-6% year-on-year growth in national electricity consumption for 2022, with a gradual increase in quarterly growth rates[64]. - By 2030, the company aims to align with national goals for carbon neutrality, focusing on renewable energy sources like hydropower, which is crucial for energy security and sustainability[64]. - The company plans to generate 2,127 billion kilowatt-hours of electricity in 2022, contingent on favorable water conditions in key reservoirs[66].