Chongqing Water(SH:601158)2023-06-01 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]. - The net cash flow generated from operating activities was approximately RMB 2.30 billion, showing a slight increase of 2.74% compared to RMB 2.24 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 weighted average return on equity increased by 0.39 percentage points to 11.57% in 2020 from 11.18% in 2019[17]. - The company achieved a total operating revenue of 6.35 billion RMB, an increase of 12.61% year-on-year[34]. - The net profit reached 1.77 billion RMB, reflecting a year-on-year growth of 6.66%[34]. - The total revenue from the Chongqing region was ¥5,251,222,540.85, reflecting an 11.91% increase year-on-year, with a gross margin of 43.13%[37]. Assets and Liabilities - As of the end of 2020, the net assets attributable to shareholders were approximately RMB 15.52 billion, a 0.76% increase from RMB 15.41 billion at the end of 2019[15]. - The total assets of the company at the end of 2020 were approximately RMB 24.53 billion, marking an 11.39% increase from RMB 22.03 billion at the end of 2019[15]. - The company's total liabilities at the end of the reporting period were 24,000,000,000.00 RMB, with a significant increase in accounts payable by 42.64%[48]. - The company's total liabilities to total assets ratio increased to approximately 36.4% in 2020 from 29.9% in 2019, indicating a higher leverage position[183]. - The company's equity attributable to shareholders rose to ¥15,522,660,334.47 in 2020, compared to ¥15,405,899,381.54 in 2019, showing a slight increase of about 0.76%[183]. Cash Flow - The net cash flow from operating activities for 2020 was CNY 2,368,070,574.26, an increase of 99.0% compared to CNY 1,190,006,393.24 in 2019[196]. - The total cash inflow from financing activities was CNY 2,048,517,042.09, significantly higher than CNY 523,462,456.66 in 2019[196]. - The cash and cash equivalents at the end of the year stood at CNY 2.77 billion, an increase from CNY 2.21 billion at the beginning of the year, indicating improved liquidity[194]. 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 all shareholders for the 2020 fiscal year[4]. - In 2020, the company distributed a cash dividend of 1,224,000,000.00 RMB, which accounted for 69.01% of the net profit attributable to ordinary shareholders[71]. - The cash dividend per 10 shares in 2020 was 2.55 RMB, slightly down from 2.57 RMB in 2019[71]. Market and Operational Expansion - The company has expanded its sewage treatment projects in various regions, including Sichuan and Hubei provinces, enhancing its market presence[25]. - The company aims to enhance its market presence in provinces such as Sichuan, Yunnan, and Henan, targeting national expansion in the water and environmental protection sectors[27]. - The company successfully expanded its market by winning several PPP projects, including the Kunming Wuhua Water Environment Comprehensive Governance project[30]. - The company is committed to digital transformation and smart water management, leveraging big data and cloud computing technologies[29]. 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 made cash donations totaling 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[108]. Risks and Compliance - The company has detailed potential risks in its report, particularly in the section discussing future development[6]. - The company is committed to complying with environmental regulations to mitigate risks associated with increased operational costs due to stricter enforcement[68]. - The company faces risks related to raw material supply, particularly due to uneven rainfall in Chongqing, which may increase water extraction and purification costs[67]. Governance and Management - The company has a clear policy for avoiding conflicts of interest and ensuring fair pricing in related transactions[150]. - The company has maintained a consistent shareholding structure with no changes in the number of shares held by executives throughout the year[133]. - The company has experienced changes in its board, with Wang Shian resigning as chairman and director on December 30, 2020, due to work adjustments[144].