Chongqing Water(SH:601158)2021-04-01 16:00Financial Performance - The company's operating revenue for 2020 was approximately RMB 6.35 billion, representing a year-on-year increase of 12.61% compared to RMB 5.64 billion in 2019[15]. - The net profit attributable to shareholders of the listed company for 2020 was approximately RMB 1.77 billion, an increase of 6.66% from RMB 1.66 billion in 2019[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 1.67 billion, reflecting an 8.59% increase from RMB 1.54 billion in 2019[15]. - Basic earnings per share for 2020 was CNY 0.37, an increase of 5.71% compared to CNY 0.35 in 2019[16]. - Diluted earnings per share for 2020 was also CNY 0.37, reflecting the same growth of 5.71% from 2019[16]. - The net profit attributable to shareholders for Q4 2020 was CNY 267,703,085.40, with a total annual net profit of CNY 1,769,000,000.00[20]. - The weighted average return on equity for 2020 was 11.57%, an increase of 0.39 percentage points from 2019[17]. - The total operating revenue for 2020 reached ¥6,349,599,844.62, an increase of 12.6% compared to ¥5,638,549,427.06 in 2019[191]. - Net profit for 2020 was ¥1,776,714,927.77, compared to ¥1,663,849,583.23 in 2019, representing an increase of 6.8%[192]. Cash Flow and Assets - The net cash flow from operating activities for 2020 was approximately RMB 2.30 billion, showing a slight increase of 2.74% compared to RMB 2.24 billion in 2019[15]. - The total assets of the company at the end of 2020 were approximately RMB 24.53 billion, which is an increase of 11.39% from RMB 22.03 billion at the end of 2019[15]. - Cash and cash equivalents increased to CNY 2,808.19 million in 2020 from CNY 2,242.48 million in 2019, indicating improved liquidity[185]. - The total cash and cash equivalents at the end of 2020 reached ¥2,770,324,764.59, compared to ¥2,209,440,885.97 at the end of 2019, indicating a growth of 25.4%[200]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.55 per 10 shares, totaling RMB 1.22 billion to shareholders, with no bonus shares or capital reserve conversion planned for this year[4]. - In 2020, the company distributed cash dividends of 2.55 RMB per 10 shares, totaling 1,224,000,000 RMB, which accounted for 69.01% of the net profit attributable to ordinary shareholders[73]. - The company has a cash dividend policy to distribute no less than 60% of the distributable profits, ensuring protection of minority shareholders' rights[72]. Market and Operational Expansion - The company aims to expand its market presence beyond Chongqing to provinces such as Sichuan, Yunnan, Hubei, and Henan[27]. - The company has expanded its sewage treatment projects in regions including Sichuan and Hubei, enhancing its market presence[25]. - The company successfully expanded its market by winning several PPP projects, including the Kunming Wuhua Water Environment Comprehensive Governance Project[30]. - The company aims to exceed 40 billion yuan in total assets and achieve a water supply and drainage capacity of over 8 million tons per day by the end of 2025[68]. Environmental and Social Responsibility - The company reduced COD emissions by nearly 260,000 tons and ammonia nitrogen emissions by 25,000 tons during the year[32]. - The company donated a total of 630,000 RMB to local charities as part of its social responsibility initiatives[32]. - The company provided a water price discount of 25.88 million RMB and waived late fees exceeding 1.25 million RMB to support small and medium-sized enterprises during the pandemic[110]. Risks and Compliance - The company has detailed potential risks in its report, which investors should consider[6]. - The company is committed to complying with environmental regulations to mitigate risks associated with increased operational costs due to stricter enforcement[70]. - The company has ongoing significant litigation involving a construction contract dispute with a claim amount of RMB 59.39 million[84]. Research and Development - The total R&D investment amounted to ¥4,760,972.62, representing 0.07% of total revenue, with 93 R&D personnel, accounting for 1.55% of the total workforce[44]. - Research and development expenses were 4.72 million RMB, a decrease of 3.56% compared to the previous year[34]. - The company is focusing on digital transformation and smart water management through big data and cloud computing technologies[29]. Corporate Governance - The company has a total of 10 board members, ensuring a broad range of expertise and perspectives[135]. - The board of directors consists of 7 members, including 3 independent directors, with 9 meetings held during the reporting period[155]. - The company has maintained a consistent shareholding structure with no changes in shareholdings during the reporting period[135].