HDECL(SH:900937)2021-04-23 16:00Financial Performance - The total operating revenue for 2020 was CNY 10.67 billion, a decrease of 1.45% compared to CNY 10.83 billion in 2019[19]. - The net profit attributable to shareholders was a loss of CNY 1.11 billion, compared to a profit of CNY 75.56 million in 2019, representing a decline of 1,564.51%[19]. - The company's net assets attributable to shareholders decreased by 63.79% to CNY 602.35 million from CNY 1.66 billion in 2019[19]. - The total assets of the company decreased by 4.06% to CNY 22.72 billion from CNY 23.69 billion in 2019[19]. - The basic earnings per share for 2020 was -CNY 0.56, a decrease of 1,500% compared to CNY 0.04 in 2019[20]. - The weighted average return on equity was -97.67%, a decrease of 102.34 percentage points from 4.67% in 2019[20]. - The net cash flow from operating activities was CNY 1.31 billion, a decrease of 20.19% from CNY 1.64 billion in 2019[19]. - The company plans not to distribute profits for 2020 due to the reported losses and negative retained earnings[5]. - The company reported a net loss of approximately CNY 1.11 billion for 2020, resulting in no profit distribution or capital reserve increase for that year[84]. - The company has not proposed any cash dividend distribution plan for the reporting period, as the parent company's distributable profits were negative[85]. Revenue and Costs - The company's main business cost increased by 5.95% to CNY 10.807 billion, primarily due to rising coal prices[39]. - The total operating costs increased to CNY 11,886,973,022.86, up from CNY 11,316,644,325.28 in 2019, representing a rise of 5.04%[200]. - The total power generation for the year was 25.945 billion kWh, a decrease of 3.84% year-on-year, while the on-grid electricity volume was 23.234 billion kWh, down 4.19%[35]. - The average on-grid electricity price was CNY 371.41 per MWh, with a total heat supply of 55.89 million GJ[35]. Assets and Liabilities - The total assets involved in the entrusted management of the coal mining enterprise as of December 31, 2020, amount to CNY 13,405,000[110]. - The company's total assets amounted to CNY 22,723,956,365.43 in 2020, down from CNY 23,685,615,745.89 in 2019, a decrease of about 4.06%[193]. - The company's equity attributable to shareholders decreased to CNY 602,353,950.20 in 2020 from CNY 1,663,703,930.01 in 2019, a decline of approximately 63.80%[193]. - Total current assets increased to CNY 4,269,389,406.92 in 2020, up from CNY 4,079,868,501.44 in 2019, representing a growth of approximately 4.66%[189]. - Total non-current assets decreased to CNY 18,454,566,958.51 in 2020 from CNY 19,605,747,244.45 in 2019, a decline of about 5.85%[190]. - Total liabilities decreased slightly to CNY 21,913,146,571.91 in 2020 from CNY 21,748,377,131.79 in 2019, a reduction of approximately 0.76%[193]. Operational Capacity and Strategy - The company has a total installed capacity of 6.49 million kilowatts across 9 power plants, primarily coal-fired, and serves a heating area of approximately 117 million square meters[29]. - The company plans to enhance its fuel supply stability through diversified coal sourcing and market-based procurement strategies[30]. - The company is facing significant pressure on profits due to low utilization hours of coal-fired power plants and a tight coal supply situation[31]. - The company is committed to technological innovation and compliance with environmental policies to drive future growth[29]. - The company is focusing on optimizing its asset structure by phasing out inefficient coal-fired units and enhancing the operational quality of its assets[76]. Environmental and Regulatory Compliance - The company is committed to addressing environmental and safety challenges posed by new regulations, which may impact its operational strategies moving forward[80]. - The company has established emergency response plans for environmental incidents and has conducted drills to enhance its response capabilities[125]. - The company emphasizes the importance of green transformation and aims to align its development strategy with national carbon neutrality goals[71]. - The company has nine key pollutant discharge units, all of which have installed efficient dust removal, desulfurization, and denitrification facilities, achieving ultra-low emissions standards[122]. Shareholder and Governance Structure - The total number of ordinary shareholders was 165,658, a slight decrease from 166,102 at the end of the previous month[131]. - The largest shareholder, China Huadian Corporation, holds 881,126,465 shares, representing 44.80% of the total shares[133]. - The company has maintained a consistent leadership structure since May 2020, with all current directors and supervisors in their roles since then[141]. - The company reported no changes in shareholdings for board members and senior management, indicating stability in leadership[141]. - The company continues to prioritize corporate governance, as evidenced by the lack of changes in key management positions and shareholdings[141]. Employee Management and Development - The total number of employees in the parent company is 6,690, while the total number of employees in major subsidiaries is 2,992, resulting in a combined total of 9,682 employees[148]. - The company has established a systematic employee compensation distribution system that links employee income to corporate performance and individual achievements[149]. - The company emphasizes the importance of employee training and development, integrating it into annual assessments to ensure continuous improvement[150]. - The company achieved a full employee training rate of 86% in 2020, enhancing the technical skills of its workforce[151].