JSNE(SH:603693)2020-04-27 16:00Financial Performance - The company's operating revenue for 2019 was CNY 1,484,404,012.94, representing a year-on-year increase of 0.79% compared to CNY 1,472,814,118.29 in 2018[26]. - The net profit attributable to shareholders for 2019 was CNY 253,953,179.50, a decrease of 19.29% from CNY 314,641,509.62 in 2018[26]. - The net cash flow from operating activities decreased by 39.67% to CNY 517,439,515.13 in 2019, down from CNY 857,668,331.67 in 2018[26]. - The company's total assets at the end of 2019 were CNY 8,342,125,519.19, an increase of 1.76% from CNY 8,198,025,594.33 at the end of 2018[26]. - The basic earnings per share for 2019 was CNY 0.41, down 26.79% from CNY 0.56 in 2018[27]. - The weighted average return on equity for 2019 was 5.61%, a decrease of 2.43 percentage points from 8.04% in 2018[30]. - The company reported a net profit of CNY 62,080,216.93 in Q4 2019, with total revenue for the quarter at CNY 404,021,367.33[29]. - The company's net assets attributable to shareholders increased by 2.93% to CNY 4,592,788,646.32 at the end of 2019[26]. Dividend Distribution - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares, totaling approximately 92.7 million CNY based on a total share capital of 61.8 million shares as of December 31, 2019[7]. - The company has not adopted stock dividends or capital reserve transfers for this profit distribution plan[7]. - The company's profit distribution policy remains unchanged, with a cash dividend of 1.5 RMB per 10 shares for 2019, totaling 92.7 million RMB, which is 36.50% of the net profit attributable to shareholders[134]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[136]. Risk Management - The company has not identified any significant risks that could adversely affect its future development strategy and operational goals during the reporting period[8]. - The company has detailed analyses of potential risks in its future development discussions within the report[8]. - The company is facing risks related to concentrated customer bases, particularly with local grid companies in Jiangsu province, which could impact operations if market conditions change[122]. - The company is addressing the risk of delayed renewable energy subsidies by enhancing cash flow management and maintaining a healthy financial status[126]. Renewable Energy Projects - The company has a total installed capacity of 1,055.145 MW as of December 31, 2019, including 848.5 MW from wind power, 115 MW from biomass, and 91.645 MW from solar power[39]. - The company is actively involved in the development of new energy projects, focusing on wind, biomass, and solar energy[39]. - The company’s biomass power generation capacity accounted for 19.39% of Jiangsu Province's total biomass capacity[49]. - The company’s solar power generation capacity represented 0.62% of Jiangsu Province's total solar capacity[49]. - The company is actively involved in the construction and management of offshore wind farms, contributing to its market expansion strategy[111]. Financial Health - The asset-liability ratio was 39.32%, a decrease of 0.68 percentage points compared to the beginning of the period, indicating strong solvency[62]. - The company reported a net cash flow from operating activities of 517.44 million yuan for the year 2019, indicating a healthy cash flow status[126]. - The company's asset-liability ratio at the end of the reporting period was 39.32%, reflecting a stable debt structure and strong solvency[126]. Environmental Compliance - The company’s renewable energy projects significantly reduce harmful gas emissions compared to traditional coal-fired power generation[170]. - The company has established pollution prevention facilities in compliance with national and local requirements, ensuring normal operation and standard emissions[177]. - All biomass power generation projects have passed environmental impact assessments and obtained discharge permits as required[178]. - The company strictly conducts online monitoring of pollutant emissions in accordance with national and local regulations[180]. Shareholder Information - The total number of ordinary shares is 61,800,000, with a proportion of 100%[184]. - Jiangsu Guoxin Group Co., Ltd. holds 325,000,000 shares, representing 52.59% of the total shares[189]. - The company does not have any preferred shareholders with restored voting rights[189]. - The actual controller of the major shareholders is the Jiangsu Provincial Government[194]. Research and Development - Research and development expenses rose by 17.13% to ¥9,783,746.35, accounting for 0.66% of total operating revenue[78]. - The total number of R&D personnel is 44, representing 7.10% of the company's total workforce[78]. - The company is committed to increasing innovation investment to drive research and development projects aligned with future growth directions[120].