ANG(603689)2020-04-28 16:00Financial Performance - The company's operating revenue for 2019 was CNY 4,171,197,902.35, representing a 28.70% increase compared to CNY 3,240,975,796.32 in 2018[22]. - The net profit attributable to shareholders for 2019 was CNY 223,858,639.46, up 26.91% from CNY 176,389,325.12 in 2018[22]. - The net cash flow from operating activities for 2019 was CNY 319,471,040.38, an increase of 31.37% compared to CNY 243,175,364.93 in 2018[23]. - The total assets at the end of 2019 were CNY 3,413,537,112.12, an 8.06% increase from CNY 3,158,925,386.54 at the end of 2018[23]. - The basic earnings per share for 2019 was CNY 0.67, reflecting a 28.85% increase from CNY 0.52 in 2018[24]. - The weighted average return on equity for 2019 was 10.61%, an increase of 1.58 percentage points from 9.03% in 2018[24]. - The total profit for the year was 301 million RMB, marking a significant achievement in the company's financial performance[42]. - The company's operating revenue reached 4.171 billion RMB, representing a year-on-year increase of 28.70% compared to 3.241 billion RMB in the previous year[45]. - The company reported a net profit of CNY 63,726,347.42 in Q1 2019, with total revenue of CNY 1,085,341,877.31 for the same quarter[26]. - The net profit attributable to shareholders for Q4 2019 was CNY 58,962,590.83, with revenue of CNY 1,322,729,893.91[26]. Cash Flow and Investments - The company reported a net cash flow from operating activities of 319 million RMB, an increase of 31.37% from the previous year[45]. - The company’s investment activities resulted in a net cash outflow of 346 million RMB, reflecting ongoing expansion efforts[45]. - The company’s total cash inflow from investment activities decreased by 91.64% to 10.60 million RMB, primarily due to the maturity of financial products from the previous period[57]. - The company’s financing cash flow net amount decreased by 62.24% to -37.56 million RMB, mainly due to reduced borrowings[57]. - The company reported a cash dividend of RMB 2.1 per 10 shares, totaling RMB 70,560,000, which represents 31.52% of the net profit for 2019[86]. - The company plans to maintain a cash dividend policy where at least 80% of profits will be distributed as cash dividends during the mature stage without significant capital expenditure[81]. Assets and Liabilities - The company's net assets attributable to shareholders at the end of 2019 were CNY 2,201,413,886.72, an increase of 8.97% from CNY 2,020,197,827.52 at the end of 2018[23]. - The total liabilities rose to CNY 954,796,054.78 in 2019, compared to CNY 892,878,406.69 in 2018, indicating an increase of about 6.94%[180]. - The company's accounts receivable increased by 91.12% to ¥124,583,366.56, attributed to the growth in gas sales and changes in settlement cycles with major clients[59]. - Prepayments rose by 57.16% to ¥189,812,694.04, mainly due to increased gas purchase volumes[59]. - Inventory grew by 40.73% to ¥34,641,024.24, driven by increased construction activities and pipeline expansions[59]. Operational Highlights - The company achieved a total gas sales volume of 2.436 billion cubic meters in 2019, with long-distance transportation accounting for 2.229 billion cubic meters, CNG/LNG sales at 0.138 billion cubic meters, and city network sales at 0.321 billion cubic meters[42]. - The company invested in 22 long-distance pipelines, enhancing its gas supply capabilities across multiple cities in Anhui province[34]. - The company has secured gas distribution rights in several regions, including Suzhou and Huai'an, expanding its market presence[34]. - The company is focused on expanding its natural gas pipeline network to enhance service delivery[12]. - The company is positioned to benefit from the national push for natural gas as a cleaner energy source, aiming for a 10% share in primary energy consumption by 2020[38]. Risk Management - The company has outlined potential risks in its future development in the report[7]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[6]. - The company has identified risks related to market supply and demand, as well as price fluctuations in the natural gas sector[77]. Corporate Governance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[4]. - The company has committed to ensuring the accuracy and completeness of its financial reports[5]. - The company has confirmed that there are no violations of decision-making procedures in providing guarantees[7]. - The company has not disclosed any significant changes in shareholder structure or stock variations[9]. - The company has not reported any significant litigation or arbitration matters during the fiscal year 2019[100]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,270, an increase from 18,876 at the end of the previous month[119]. - Anhui Energy Group Co., Ltd. holds 43.31% of the company's shares, totaling 145,524,434 shares[121]. - Hong Kong and China Gas (Anhui) Co., Ltd. holds 20.61% of the shares, totaling 69,249,600 shares[121]. Employee and Management Structure - The total number of employees in the parent company is 458, while the main subsidiaries have 413 employees, resulting in a total of 871 employees[147]. - The professional composition includes 510 production personnel, 67 sales personnel, 100 technical personnel, 51 financial personnel, and 143 administrative personnel[147]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period, maintaining a consistent ownership structure[134]. - The management team includes individuals with extensive experience in various sectors, such as energy and finance, contributing to strategic decision-making[135].