凌云B股(900957) - 2020 Q4 - 年度财报

Financial Performance - The net profit attributable to shareholders for 2020 was CNY 21.81 million, a decrease of 13.79% compared to CNY 25.30 million in 2019[5]. - Total operating revenue for 2020 was CNY 99.41 million, down 5.35% from CNY 105.02 million in 2019[20]. - The basic earnings per share for 2020 was CNY 0.0625, a decrease of 13.79% from CNY 0.0725 in 2019[21]. - The weighted average return on equity for 2020 was 4.72%, down 0.74 percentage points from 5.46% in 2019[21]. - The company reported a net profit of CNY 5.02 million in Q4 2020, compared to CNY 5.73 million in Q3 2020[24]. - The company achieved a total electricity settlement of 141.37 million kWh in 2020, a decrease of 5.35% year-on-year[34]. - The company's operating revenue for the year was 99.41 million RMB, a decline of 5.35% year-on-year, with a net profit attributable to shareholders of 21.81 million RMB, down 13.79%[34]. - The company reported an investment income of 13.99 million RMB from its joint venture Guangzhou Weicheng, a decrease of 27.98% year-on-year[34]. - The company reported a net loss of CNY 45,636,968.19, an improvement from a loss of CNY 67,445,869.63 in the previous year[136]. - The company’s net profit for 2020 was CNY 13,973,975.26, a decrease from CNY 21,181,091.99 in 2019, representing a decline of approximately 34.1%[147]. Cash Flow and Assets - Cash flow from operating activities for 2020 was CNY 55.85 million, an increase of 25.02% compared to CNY 44.67 million in 2019[20]. - The cash and cash equivalents decreased to CNY 16,138,968.65 from CNY 36,087,804.56, a decline of about 55.3%[134]. - The company reported a net cash flow from operating activities of CNY 55.85 million, an increase of 25.02% compared to the previous year[37]. - The company’s cash flow from financing activities was not detailed in the provided data, indicating a potential area for further analysis in future reports[153]. - The total cash flow from investment activities was 1,188,108.00 RMB, with cash inflow from the disposal of fixed assets recorded at 1,350,000.00 RMB[152]. - The total cash inflow from operating activities was 38,681,658.77 RMB, compared to 37,943,688.73 RMB in 2019, indicating a year-over-year increase of approximately 1.9%[152]. Liabilities and Equity - The total liabilities decreased to CNY 509,834,418.24 from CNY 540,845,616.32, indicating a reduction of about 5.7%[136]. - The company's equity attributable to shareholders rose to CNY 497,911,023.86 from CNY 476,102,122.42, reflecting an increase of approximately 4.5%[136]. - The total current liabilities decreased to CNY 82,534,418.24 from CNY 117,985,616.32, a reduction of about 30%[136]. - The total equity attributable to the parent company at the end of 2020 was 476,102,122.42 RMB, showing stability in the company's financial position[155]. - The retained earnings showed a deficit of CNY 93,207,463.43, which is a significant concern for future profitability[170]. Operational Challenges - The company faced significant pressure on cash flow due to declining electricity volume and prices, as well as delayed subsidy payments[35]. - The company acknowledges the ongoing challenges posed by regional electricity restrictions, particularly in Gansu Province, which may affect future growth[64]. - The company has significant assets pledged for loans, including fixed assets valued at 379,965,987.73 yuan and accounts receivable at 219,427,978.06 yuan[49]. - The company has a substantial financial risk due to overdue subsidy payments amounting to CNY 219 million, which constitutes two-thirds of its electricity settlement income[65]. Strategic Initiatives - The company plans to strengthen communication with banks to maintain necessary loan scales for cash flow management[35]. - The company aims to enhance cooperation with grid authorities and major electricity consumers to secure contract electricity shares that match the scale of its power stations[35]. - The company is exploring the integration of energy storage solutions to enhance the flexibility of power sources and improve the utilization rate of renewable energy[61]. - The company aims to enhance its power station operation and maintenance system to ensure asset safety and stability in operations[63]. Corporate Governance - The company has maintained a good integrity status, with no unfulfilled court judgments or significant overdue debts[75]. - The company has not disclosed any major risks identified by the supervisory board[120]. - The financial statements were audited in accordance with Chinese CPA auditing standards, ensuring compliance and reliability[124]. - The company has not reported any new product launches or technological advancements during this period[167]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,191, an increase from 22,983 at the end of the previous month[87]. - Guangzhou Jiaye Investment Group Co., Ltd. held 103,370,000 shares, accounting for 29.62% of total shares, with all shares pledged[89]. - The company has no significant changes in the total number of ordinary shares and share capital structure during the reporting period[85]. - The company has no significant changes in the internal employee stock situation during the reporting period[87].