SGC(SH:601139)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was CNY 15,014,814,569.43, an increase of 7.06% compared to CNY 14,025,273,714.19 in 2019[18]. - The net profit attributable to shareholders of the listed company reached CNY 1,321,400,281.94, reflecting a growth of 24.92% from CNY 1,057,831,208.63 in the previous year[18]. - The total assets at the end of 2020 amounted to CNY 25,514,236,010.61, a 9.90% increase from CNY 23,215,754,677.81 in 2019[18]. - The company's net cash flow from operating activities was CNY 3,027,639,210.43, up 23.81% from CNY 2,445,445,795.16 in 2019[18]. - The total liabilities increased to CNY 13,062,085,664.44, representing a 12.12% rise from CNY 11,649,952,746.34 in the previous year[18]. - Basic earnings per share increased by 24.32% to CNY 0.46 in 2020 compared to CNY 0.37 in 2019[19]. - The weighted average return on equity rose to 11.55% in 2020, up from 10.47% in 2019, an increase of 1.08 percentage points[19]. - The company reported a net profit margin of 12% for 2020, which is an improvement from 10% in 2019[120]. Cash Flow and Investments - The company's cash flow from operating activities for the entire year showed a positive trend, with a total of CNY 3,027,000,000.00 generated[21]. - Cash received from operating activities increased to ¥227,987,931.11, up 91.16% from ¥119,262,556.27 in 2019[55]. - Cash paid for operating activities rose to ¥589,200,251.53, an increase of 32.32% from ¥445,285,921.75 in 2019[55]. - Cash received from investment activities increased to ¥1,225,621,912.12, up 17.25% from ¥1,045,334,126.44 in 2019[55]. - Cash paid for investment activities decreased to ¥896,927,400.00, down 32.49% from ¥1,328,528,500.00 in 2019[55]. - The company reported a significant increase in cash inflow from investment activities, totaling ¥1,511,716,166.44, compared to ¥1,191,899,608.77 in 2019, marking a 26.87% increase[188]. Business Operations and Market Presence - The company operates in 57 urban pipeline gas projects across 13 provinces, with natural gas sourced from major suppliers like PetroChina and Sinopec[26]. - The company serves over 5.81 million gas users across 57 cities, covering a population of over 20 million[32]. - The company completed the acquisition of the Dongfang Gas asset package, marking its entry into the Sichuan-Chongqing natural gas market[39]. - The company operates in 13 provinces and has obtained gas business franchise rights in 57 cities, enhancing its market presence[37]. - The company has established an integrated LNG and LPG supply chain, including a natural gas reserve and peak-shaving facility with an annual turnover capacity of 800,000 tons[31]. Research and Development - Research and development expenses totaled CNY 241.74 million, accounting for 1.61% of operating revenue[53]. - The company has filed for 312 intellectual property rights, with 163 granted, including 36 invention patents, demonstrating industry-leading innovation[35]. - The company has developed a technology innovation system, including partnerships with universities and research institutions, to advance cloud computing and big data applications in the gas industry[34]. - The company is investing heavily in R&D, allocating 150 million for new technology development in 2021, which is a 20% increase from the previous year[120]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[3]. - The company strictly adheres to relevant laws and regulations, enhancing its corporate governance structure and ensuring independent operations from its controlling shareholders[138]. - The company reported no significant defects in internal control during the reporting period, and the internal control audit received a standard unqualified opinion[147]. - The company submitted monthly financial reports to its controlling shareholder, the Shenzhen State-owned Assets Supervision and Administration Commission, in compliance with regulations[138]. Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives since 2011, with reports available on the Shanghai Stock Exchange website[99]. - The company supported poverty alleviation efforts by investing RMB 10.2 million in a poultry farming project to encourage employment among impoverished households[91]. - A total of 168 registered impoverished individuals were lifted out of poverty, achieving significant success in poverty alleviation efforts[93]. - The company invested 692 million in targeted poverty alleviation work, contributing to various projects including infrastructure improvements[97]. Future Outlook and Strategic Plans - The company plans to distribute a cash dividend of CNY 2.10 per 10 shares to all shareholders[4]. - The company aims to achieve natural gas sales of 4.5 billion cubic meters and liquefied petroleum gas sales of 520,000 tons in 2021[71]. - The company plans to accelerate the construction of LNG transport vessels and enhance the LNG supply chain, optimizing gas source procurement[71]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million allocated for potential mergers and acquisitions in 2021[120].