ANG(603689)2021-04-05 16:00Financial Performance - The company's operating revenue for 2020 was CNY 4,763,596,975.18, representing a 14.20% increase compared to CNY 4,171,197,902.35 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 209,085,182.84, a decrease of 6.60% from CNY 223,858,639.46 in 2019[23]. - The net cash flow from operating activities increased by 66.47% to CNY 531,808,824.76 in 2020, compared to CNY 319,471,040.38 in 2019[23]. - The total assets at the end of 2020 were CNY 3,690,697,961.96, an increase of 8.12% from CNY 3,413,537,112.12 at the end of 2019[23]. - The basic earnings per share for 2020 was CNY 0.62, down 7.46% from CNY 0.67 in 2019[24]. - The weighted average return on equity decreased to 9.19% in 2020, down from 10.61% in 2019, a reduction of 1.42 percentage points[24]. - The company reported a net profit of CNY 61,032,116.68 in Q4 2020, which was the highest quarterly profit for the year[26]. - The total net assets attributable to shareholders increased by 6.67% to CNY 2,348,334,977.26 at the end of 2020, compared to CNY 2,201,413,886.72 at the end of 2019[23]. - Non-operating income for 2020 amounted to CNY 9,216,630.86, showing a significant increase compared to previous years[28]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.9 RMB per 10 shares, totaling 63,840,000 RMB based on a total share capital of 336,000,000 shares as of the end of 2020[5]. - The company has implemented a cash dividend policy, with a proposed distribution of 0.1 yuan per share for 2020, representing a payout ratio of 30.53%[89]. - The company is committed to a three-year shareholder dividend return plan from 2020 to 2022[88]. Audit and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[4]. - The company’s financial report is confirmed to be true, accurate, and complete by its responsible persons[5]. - There are no instances of more than half of the directors being unable to guarantee the authenticity of the annual report[7]. - The company has not reported any significant changes in its business operations or financial conditions[6]. - The company has no significant accounting errors or corrections reported, ensuring the integrity of its financial statements[101]. - The audit report provided a standard unqualified opinion on the financial statements, indicating no significant issues were found[168]. Risk Management and Future Outlook - The company has described potential risks in its future development in the report[7]. - The company has developed a comprehensive risk management network, effectively controlling investment risks and ensuring stable development[43]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[23]. - The company aims to align with national goals for carbon peak by 2030 and carbon neutrality by 2060, focusing on green and low-carbon energy strategies[79]. - The company is actively participating in the energy transition, responding to global trends towards renewable energy and sustainability[78]. Market and Operational Developments - The company has constructed and operated 23 long-distance pipelines, supplying natural gas to 16 cities in Anhui Province, covering a significant portion of the provincial market[35]. - The company achieved a total gas sales volume of 2.759 billion cubic meters in 2020, with long-distance transmission accounting for 2.293 billion cubic meters, CNG/LNG sales at 0.454 billion cubic meters, and city network sales at 0.304 billion cubic meters[45]. - The company is enhancing its LNG trading platform and promoting the comprehensive utilization of clean energy[83]. - The company is exploring distributed energy and hydrogen energy industries to extend its natural gas industry chain[83]. Shareholder Structure and Governance - The total number of ordinary shareholders as of the end of the reporting period was 18,221, down from 19,142 at the end of the previous month[123]. - The largest shareholder, Anhui Energy Group Co., Ltd., holds 145,524,434 shares, representing 43.31% of the total shares[126]. - The company has a structured governance framework that includes a board of directors, supervisory board, and management team, ensuring clear responsibilities and regulatory compliance[159]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[153]. Employee and Talent Management - The total number of employees in the parent company is 468, while the total number of employees in major subsidiaries is 448, resulting in a combined total of 916 employees[154]. - The company emphasizes a talent development strategy, implementing annual training plans to support rapid growth and ensure a robust talent pipeline[156]. - The company has established a comprehensive salary policy to enhance employee motivation and attract talent, aligning with modern enterprise requirements[155]. Research and Development - Research and development expenses totaled 2.761 million yuan, reflecting a 37.26% increase year-on-year, accounting for 0.06% of total operating revenue[56]. - The company reported a significant increase in research and development expenses, totaling CNY 2,760,731.68 in 2020, compared to CNY 2,011,335.96 in 2019[196].