皖能电力(000543) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥9,100,908,319.31, representing a 20.26% increase compared to ¥7,567,533,589.62 in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 79.67% to ¥102,166,100.96 from ¥502,540,422.39 year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 81.28% to ¥88,855,807.68 compared to ¥474,638,493.38 in the previous year[11]. - The basic earnings per share dropped by 79.66% to ¥0.0451 from ¥0.2217 in the same period last year[11]. - The diluted earnings per share also decreased by 79.66% to ¥0.0451 from ¥0.2217 year-on-year[11]. - The weighted average return on equity fell to 0.72% from 3.68% in the previous year, a decrease of 2.96%[11]. - The net profit for the first half of 2021 was CNY 59,142,656.14, a significant decrease from CNY 632,864,773.40 in the same period of 2020, representing a decline of approximately 90.66%[104]. - The total profit for the first half of 2021 was CNY 112,071,321.44, down from CNY 720,291,241.15 in the previous year, indicating a decrease of about 84.4%[104]. Cash Flow and Investments - The net cash flow from operating activities increased by 18.18% to ¥1,454,201,226.29 from ¥1,230,540,092.95 in the same period last year[11]. - The company reported a significant increase in investment activities, with net cash outflow of ¥2,337,071,962.54, up 545.88% from ¥-361,842,447.27 in the previous year, mainly due to increased cash payments for fixed assets[20]. - The net cash flow from operating activities for the first half of 2021 was CNY 1,454,201,226.29, an increase from CNY 1,230,540,092.95 in the same period of 2020, representing a growth of approximately 18.2%[111]. - The net cash flow from investing activities was -CNY 2,337,071,962.54, worsening from -CNY 361,842,447.27 in the first half of 2020[112]. - Cash inflow from investing activities was CNY 78,056,443.15, significantly down from CNY 373,302,506.53 in the previous year, a decline of about 79.0%[112]. - The cash outflow from investing activities surged to CNY 2,415,128,405.69, compared to CNY 735,144,953.80 in the same period last year, marking an increase of approximately 228.5%[112]. Assets and Liabilities - The total assets at the end of the reporting period were ¥36,272,403,559.34, a 7.66% increase from ¥33,692,016,765.68 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company decreased by 4.26% to ¥13,873,196,310.21 from ¥14,490,394,193.21 at the end of the previous year[11]. - The company's total liabilities rose to 17,138.31 million from 14,339.05 million, an increase of 19.5%[97]. - The company's long-term borrowings increased to 4,971.74 million from 2,881.04 million, an increase of 73.00%[97]. - The company's cash and cash equivalents decreased to 993.33 million from 1,024.24 million[95]. Operational Highlights - The operating cost increased by 26.80% to ¥8,807,475,562.95 from ¥6,946,047,295.75, primarily due to increased sales activities[20]. - The power generation segment contributed ¥5,887,138,077.02, accounting for 64.69% of total revenue, with an 18.25% increase year-on-year[21]. - The coal segment generated ¥3,035,950,592.07, representing 33.36% of total revenue, with a year-on-year increase of 22.63%[21]. - The company is positioned as a major player in the Anhui province's power generation market, holding a 21.4% share of the total installed capacity[16]. - The company aims to gradually integrate renewable energy assets, including wind and solar, into its portfolio in the coming years[17]. Environmental and Safety Measures - The company faced challenges such as increasing safety management difficulties and stricter environmental standards, prompting the implementation of enhanced safety and environmental measures[34]. - The company emphasized the importance of advancing green development and environmental protection technologies to address rising coal prices and environmental regulations[34]. - The company operates several key pollutant discharge units, with emissions of 40.71 tons of smoke, 222.04 tons of sulfur dioxide, and 399.04 tons of nitrogen oxides from its Hefei plant[42]. - The Hefei plant's emission concentrations are 4.35 mg/m³ for smoke, 22.37 mg/m³ for sulfur dioxide, and 40.6 mg/m³ for nitrogen oxides, all below the permitted levels[42]. - The average concentration of sulfur dioxide emissions is 18.63 mg/m³, exceeding the ultra-low emission standard of 35 mg/m³, with a comprehensive desulfurization efficiency of 98.7%[45]. Shareholder and Corporate Governance - The annual shareholders' meeting had a participation rate of 57.35% on April 15, 2021[36]. - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[2]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[40]. - The company has undergone a management restructuring, with several key personnel changes effective April 15, 2021[39]. - The company has not reported any significant events related to its subsidiaries during the reporting period[79]. Legal and Compliance Issues - The company reported a total litigation amount of 4,376,116.8 CNY related to unpaid goods and overdue payment penalties[50]. - The company is actively pursuing legal actions to recover debts and enforce contract obligations[51]. - The company has faced court decisions that have dismissed some claims against it, indicating a mixed outcome in litigation[51]. - The company has made multiple attempts to collect outstanding payments from the involved parties[50]. Accounting and Financial Reporting - The financial report was approved by the board of directors on August 27, 2021[129]. - The financial statements are prepared in accordance with the latest enterprise accounting standards issued by the Ministry of Finance[132]. - The company recognizes financial assets or liabilities when it becomes a party to the financial instrument contract, with regular way trades being accounted for on the transaction date[147]. - The company must assess for impairment of investments in subsidiaries, joint ventures, and associates at the balance sheet date if there is objective evidence of impairment[175]. - The company has established a systematic approach for impairment testing of significant receivables, ensuring that any identified losses are accurately reflected in financial statements[160].