NBTP(SH:600982)2021-04-19 16:00Financial Performance - The net profit attributable to shareholders for 2020 was CNY 252,610,968.23, with the parent company achieving a net profit of CNY 163,213,024.62[4] - The company's operating revenue for 2020 was approximately RMB 4.41 billion, representing a year-on-year increase of 29.28% compared to RMB 3.41 billion in 2019[22] - The net profit attributable to shareholders for 2020 was approximately RMB 252.61 million, a 116.53% increase from RMB 116.66 million in 2019[22] - The basic earnings per share for 2020 was RMB 0.2361, up 113.28% from RMB 0.1107 in 2019[22] - The weighted average return on equity increased to 7.27% in 2020, up 3.74 percentage points from 3.53% in 2019[22] - The total profit for 2020 was 336.35 million yuan, representing a year-on-year increase of 74.08%[38] - The company reported a total of RMB 89.31 million in non-recurring gains and losses for 2020, compared to RMB 68.20 million in 2019[27] - The company’s net assets attributable to shareholders at the end of 2020 were approximately RMB 3.53 billion, an increase of 2.49% from RMB 3.44 billion at the end of 2019[22] Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.35 per 10 shares, amounting to a total of CNY 150,898,708.49, which represents 59.74% of the net profit attributable to shareholders for 2020[4] - The company reported a cash dividend of 1.35 RMB per 10 shares for 2020, with a payout ratio of 59.74% of net profit attributable to ordinary shareholders[95] Acquisitions and Investments - The company completed a cash acquisition of 100% equity in Ningneng Lingao Biomass Power Co., Ltd. from Kaitou Energy during the reporting period[23] - The company acquired 100% equity of Lingao Biomass, 35% equity of Wanhua Thermal Power, 35% equity of CNOOC Industrial Gas, and 10% equity of Guoneng Sanfa, enhancing investment returns and industry scale[40] - The company has completed the acquisition of 100% equity in Ningbo Thermal Power and other energy assets, enhancing its market position[99] Operational Highlights - The company produced 307.68 thousand tons of steam, a decrease of 12.52% year-on-year, while electricity production was 110,410.18 million kWh, an increase of 8.56%[38] - The company achieved a total electricity sales volume of 976 million kWh, representing a year-on-year increase of 10.90%[43] - The total power generation during the reporting period was 111,360.20 million kWh, with a year-on-year increase of 9.49%[69] - The efficiency of thermal power generation improved, with utilization hours increasing to 3185.67 hours from 2227.74 hours year-on-year[71] Financial Health and Risk Management - The company has maintained a standard unqualified audit opinion from Tianheng Accounting Firm[3] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[6] - The company faces macroeconomic fluctuations that could impact energy demand, particularly for steam and electricity[89] - The company has identified risks related to fluctuating raw material prices, which could impact profitability in the short term[90] - The company has maintained effective internal controls over credit management related to financing lease receivables[200] Environmental and Social Responsibility - The company emphasizes social responsibility and environmental protection, aiming for near-zero emissions in its operations[36] - Environmental compliance is being monitored, with emissions of sulfur dioxide and nitrogen oxides reported below regulatory limits, ensuring adherence to environmental standards[130] - The total environmental investment for the five production enterprises in 2020 amounted to 29.8521 million yuan[131] - The company has disclosed its social responsibility report, highlighting its commitment to community engagement and sustainable practices[129] Corporate Governance - The company has a strong governance structure with independent directors contributing to oversight and strategic direction[161] - The board of directors held a total of 15 meetings during the year, with 3 conducted in person and 12 via communication methods[178] - The company adheres to legal and regulatory requirements in its governance structure, ensuring clear responsibilities among shareholders, the board, and management[175] Employee and Management Structure - The total number of employees in the company and its main subsidiaries is 1,135, with 67 in the parent company and 968 in subsidiaries[169] - The company has implemented stock incentive plans for several executives, including a total of 522,500 CNY for Vice General Manager Zou Xi[160] - The company has established an annual target responsibility assessment mechanism for senior management, linking their annual salary to the company's asset status and profitability[181] Related Party Transactions - The total amount of related party transactions for the year is estimated at RMB 116,370,000, with actual transactions amounting to RMB 53,950,280, an increase from RMB 46,384,550 in the previous year, representing a growth of approximately 16.7%[108] - The company’s related party transactions accounted for a notable percentage of total transactions, with some transactions exceeding 10% of similar transaction amounts[109] Future Outlook - The company plans to complete and put into operation several projects in 2021, including the biomass project in Fengcheng and the thermal power project in Jingshi[40] - The company expects to add approximately 18 million kW of new power generation capacity in 2021, with non-fossil energy accounting for about 14 million kW[32] - The company aims to increase the share of non-fossil energy in total energy consumption to around 20% as part of the national energy strategy[85]