凌云B股(900957) - 2021 Q4 - 年度财报

Financial Performance - The company's net profit attributable to shareholders for 2021 was CNY 27.66 million, an increase of 26.85% compared to CNY 21.81 million in 2020[6]. - Total revenue for 2021 reached CNY 113.07 million, reflecting a growth of 13.75% from CNY 99.41 million in 2020[20]. - The basic earnings per share for 2021 was CNY 0.0793, up 26.88% from CNY 0.0625 in 2020[21]. - The net profit attributable to shareholders for the year was CNY 2,766 million, representing a year-on-year increase of 26.85%[29]. - The total operating revenue for 2021 was CNY 113,070,975.49, an increase of 13.4% compared to CNY 99,405,594.98 in 2020[170]. - Net profit for 2021 was CNY 27,645,754.80, up 26.5% from CNY 21,858,686.00 in 2020[171]. - The total comprehensive income for the year was CNY 27,663,115.82, indicating a significant recovery from the previous year's loss of CNY 67,445,869.63[188]. Assets and Liabilities - The company's total assets as of the end of 2021 were CNY 1.02 billion, a slight increase of 1.48% from CNY 1.01 billion at the end of 2020[20]. - The total assets and owners' equity amounted to CNY 580,104,385.13 and CNY 485,278,898.22 respectively at the end of 2021[168]. - Total liabilities decreased to CNY 497,163,358.30 in 2021 from CNY 509,834,418.24 in 2020, a reduction of approximately 2.5%[162]. - The company’s total liabilities to equity ratio improved to approximately 0.94 in 2021 from 1.02 in 2020, indicating a stronger financial position[162]. Cash Flow - The net cash flow from operating activities for 2021 was CNY 21.57 million, a decrease of 61.39% compared to CNY 55.85 million in 2020[20]. - Operating cash inflow for 2021 was CNY 81,470,860.39, a decrease of 3.3% from CNY 84,176,076.09 in 2020[175]. - Cash inflow from financing activities decreased to CNY 54,000,000.00 in 2021 from CNY 94,000,000.00 in 2020, a decline of 42.5%[176]. - The total cash and cash equivalents at the end of 2021 were CNY 664,667.78, down from CNY 15,621,768.65 at the end of 2020[176]. Operational Highlights - The total annual settlement electricity for the company reached 15,297 million kWh, an increase of 1,160 million kWh or 8.2% year-on-year, resulting in annual revenue of CNY 11,307 million, up 13.75%[29]. - The company's photovoltaic power station achieved a total settlement electricity of 15,297 million kWh, an increase of 1,160 million kWh, representing a growth rate of 8.2% year-on-year[36]. - The company faced significant pressure from delayed renewable energy subsidy payments, with receivables from subsidies reaching CNY 28,867 million by the end of 2021, an increase of CNY 6,924 million from the previous year[29]. Strategic Focus - The company plans to focus on risk management and has outlined potential risks in the annual report[8]. - The company is focusing on clean energy as a strategic emerging industry, with clear expectations for electricity revenue due to the long operational cycle and low maintenance costs of power station assets[35]. - The company plans to enhance its internal control system and improve management levels in 2022 to ensure sustainable development[70]. - The company aims to expand electricity sales channels and maximize output indicators in 2022[70]. Governance and Compliance - The board of directors consists of 6 members, including 2 independent directors, complying with legal and regulatory requirements[76]. - The company has established a performance evaluation and incentive mechanism, including a salary and allowance system for directors and a performance assessment system[76]. - The audit committee is chaired by an independent director with accounting expertise, ensuring effective oversight of financial matters[76]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters, with no instances of fund occupation or illegal guarantees as of December 31, 2021[75]. Challenges and Risks - The company is facing challenges with subsidy payments and financial support for renewable energy projects, which have not been resolved effectively[34]. - As of the end of 2021, the company faced a significant risk of subsidy payment delays, with nearly 290 million yuan in overdue payments[72]. - The company faced challenges related to regional power restrictions and pricing pressures due to rapid industry growth[72]. Shareholder Information - The largest shareholder, Guangzhou Jiaye Investment Group, holds 103,370,000 shares, representing 29.62% of total shares, all of which are pledged[134]. - The total number of ordinary shareholders as of the end of the reporting period is 22,442, an increase from 22,314 at the end of the previous month[132]. - The total number of shares held by the top ten shareholders with limited sale conditions is 159,000,000, which is a substantial portion of the company's equity[136]. Audit and Financial Reporting - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2021[149]. - The audit procedures included evaluating the internal controls related to accounts receivable management and assessing the reasonableness of management's estimates[152]. - The audit report was issued on April 18, 2022, by the accounting firm, confirming compliance with auditing standards[159].