深圳能源(000027) - 2018 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2018 was CNY 18,527,395,542, representing a 19.18% increase compared to CNY 15,545,854,866 in 2017[14]. - The net profit attributable to shareholders for 2018 was CNY 690,676,817.80, a decrease of 7.83% from CNY 749,338,237.48 in 2017[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 660,294,226.38, down 12.23% from CNY 752,266,973.38 in 2017[14]. - The basic earnings per share for 2018 was CNY 0.17, a decrease of 10.53% compared to CNY 0.19 in 2017[14]. - The total assets at the end of 2018 were CNY 85,073,895,248.88, reflecting a 10.16% increase from CNY 77,230,930,147.81 at the end of 2017[14]. - The net assets attributable to shareholders at the end of 2018 were CNY 24,074,231,815.25, up 12.81% from CNY 21,341,051,498.08 at the end of 2017[14]. - The company's power generation volume was 34.22 billion kWh, an increase of 18.08% year-on-year[34]. - The company reported a total revenue of 4.45 billion RMB for the year 2018, reflecting a significant increase compared to the previous year[88]. - The company achieved a net profit of RMB 1.2 billion, which is a 15% increase compared to the previous year[146]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.5 per 10 shares, totaling RMB 198.2246 million based on a total share capital of 3,964,491,597 shares as of December 31, 2018[3]. - The company has not proposed any stock dividends or capital reserve transfers for the year 2018[3]. - The cash dividend total for 2018 represents 100% of the profit distribution total[85]. - For the 2018 fiscal year, the company plans to distribute a cash dividend of RMB 0.50 per 10 shares, amounting to RMB 198,224,579.85, which is 28.70% of the net profit attributable to ordinary shareholders[83]. - The company distributed a cash dividend of RMB 0.80 per 10 shares for the 2017 fiscal year, totaling RMB 317,159,327.76, which represented 42.33% of the net profit attributable to ordinary shareholders[81]. Risks and Challenges - The company has identified risks related to electricity market reforms, demand fluctuations, fuel procurement cost volatility, and environmental policy changes in its annual report[3]. - The company faces risks related to electricity market reforms, which may impact its operational model and competitive positioning[77]. - The company is implementing strategies to manage fuel procurement costs amid market volatility, focusing on high-quality coal sources[78]. - The company is actively monitoring environmental regulations and enhancing its response strategies to meet stricter energy-saving and emission reduction requirements[78]. Investments and Projects - The company is actively expanding its renewable energy and environmental protection sectors, with significant growth in the gas business and ongoing projects in waste treatment[24]. - The company has multiple solid waste treatment projects under construction, with a processing capacity of 14,130 tons/day planned[24]. - The company has established new project companies for waste treatment and renewable energy development, with investments totaling 137,510,000.00 CNY[59]. - The total investment amount for the Shenzhen East Environmental Protection Power Plant project reached CNY 585,307,744.59, with a cumulative actual investment of CNY 1,075,894,159.92 by the end of the reporting period[61]. - The company plans to use the unutilized funds from the 17 Sheneng G1 bond for the construction of three waste incineration power plants[72]. Environmental Initiatives - The company is committed to environmental protection, with specific emissions data showing a total annual discharge of 82 tons of smoke and 239 tons of sulfur dioxide from the Ma Wan Company, adhering to strict pollution standards[134]. - The company has achieved significant advancements in the safety and operational standards of waste incineration plants, resulting in the publication of three industry standards and six utility model patents[17]. - The company has implemented a total discharge limit of 776 tons per year for pollutants, with no instances of exceeding this limit reported[134]. - The company has completed ultra-low emission upgrades for all coal-fired units at the Mawan, Shajiao B, and Heyuan power plants, passing provincial environmental protection inspections[140]. - The company is actively working on enhancing its environmental management practices to ensure compliance with national standards[136]. Research and Development - The company is focusing on technological innovation, holding multiple patents in waste-to-energy technology and enhancing its environmental project capabilities[28]. - The company has a training program that focuses on enhancing employee skills in areas such as corporate culture, operational skills, and management[181]. - The company has ongoing research and development efforts, with new products expected to launch in the upcoming quarters[114]. - The company is investing RMB 500 million in new technology development, focusing on renewable energy solutions[170]. Corporate Governance - The company has engaged Ernst & Young Huaming as its auditor for the third consecutive year, with an audit fee of 1.97 million RMB[92]. - The company has established a compensation policy that links performance to remuneration, with higher variable pay for senior positions[180]. - The company maintains a governance structure that ensures independent operation from its controlling shareholder, with clear separation in business, personnel, and financial aspects[184]. - The company has not reported any major deficiencies in its internal control system, indicating a strong governance framework[195]. Market Position and Strategy - The company aims to transform from a single power generation enterprise to a comprehensive energy enterprise, enhancing its competitiveness in the low-carbon clean energy sector[24]. - The company is exploring potential mergers and acquisitions to drive growth and increase market share[114]. - The company plans to expand its market presence by entering three new provinces in the next fiscal year[170]. - Future performance guidance indicates a positive outlook with expected revenue growth in the next fiscal year[114].