DELONG CO-ENERGY(SZ:000593)2021-04-29 16:00Financial Performance - The company's operating revenue for 2020 was CNY 1,275,434,692.59, representing a 22.88% increase compared to CNY 1,037,957,543.04 in 2019[17]. - The net profit attributable to shareholders decreased by 15.45% to CNY 34,922,703.29 in 2020 from CNY 41,303,050.87 in 2019[17]. - The net cash flow from operating activities increased significantly by 102.51% to CNY 109,745,288.35 in 2020, compared to CNY 54,193,038.62 in 2019[17]. - The basic earnings per share decreased by 15.65% to CNY 0.097 in 2020 from CNY 0.115 in 2019[17]. - The net profit after deducting non-recurring gains and losses was CNY 32,617,009.08 in 2020, down 22.80% from CNY 42,252,530.36 in 2019[17]. - The company reported a decline in the weighted average return on net assets to 3.57% in 2020, down from 4.39% in 2019, a decrease of 0.82 percentage points[18]. - The company reported a net loss of ¥41,902,825.33, which is a decrease from a loss of ¥70,079,350.55 in the previous year[74]. - The company achieved a consolidated net profit of -CNY 5.78 million, a decrease of CNY 0.18 million or 3.23% year-on-year, mainly due to the shutdown of Yizhuang Energy Station since August 2020[100]. Assets and Liabilities - The total assets at the end of 2020 were CNY 2,101,925,820.46, a 5.81% increase from CNY 1,986,493,780.21 at the end of 2019[18]. - The net assets attributable to shareholders increased by 4.22% to CNY 1,002,076,140.93 at the end of 2020 from CNY 961,500,410.71 at the end of 2019[18]. - The company's accounts receivable decreased by CNY 66,787,300 or 36.53%, primarily due to the recovery of gas payments by subsidiaries[33]. - The company's inventory increased to ¥59,252,668.98, representing 2.82% of total assets, up from 2.44% in the previous year[73]. - Short-term borrowings rose to ¥535,440,000.00, accounting for 25.47% of total liabilities, an increase from 22.10%[73]. - The company's contract liabilities increased to ¥122,016,354.99, which is 5.80% of total liabilities, up from 4.32%[73]. Revenue Sources - Revenue from gas supply and related services was 1,152,118,726.35 yuan, accounting for 90.33% of total operating revenue, with a year-on-year growth of 25.32%[52]. - The sales volume of gas increased by 50.54% year-on-year, reaching 49,001.10 million cubic meters, mainly due to the consolidation of Suzhou Tianhong Gas Co., Ltd. for a full year[55][57]. - The company reported a total gas sales volume of 319 million cubic meters for the reporting period[32]. - The LNG business operated at a total of 15.8 million tons within the consolidated scope, with joint venture Jinshi Petrochemical handling an additional 609,000 tons[32]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the year[5]. - The company signed a strategic cooperation memorandum with Shanghai Jiulian Group, enhancing its LNG business and market presence in East China[40]. - The company acquired assets from Wuxue Zhongran City Gas Development Co., expanding its market presence in the Yangxin area[40]. - The company plans to focus on energy industry chain operations, market expansion, and resource acquisition to enhance competitiveness in 2021[106]. Operational Efficiency - The company operates five gas entities with exclusive operating rights across various regions, enhancing its market position[32]. - The company’s LNG transportation fleet consists of 32 trucks, which are currently operating at full capacity[26]. - The company’s cash flow per share from operating activities was CNY 0.31, reflecting its operational efficiency[42]. - The company reported a total of ¥158,477,485.97 in mortgaged assets, including fixed assets, construction in progress, intangible assets, and investment properties[79]. Research and Development - Research and development expenses rose significantly by 537.94% to ¥1,680,542.46, reflecting increased R&D activities[66]. - The number of R&D personnel increased by 175.00% to 11, indicating a focus on enhancing technological capabilities[66]. - The proportion of R&D investment to operating revenue was 0.13%, up from 0.03% in the previous year[66]. Shareholder Information - The total number of shares is 358,631,009, with 99.96% being unrestricted shares (358,483,169) and 0.04% being restricted shares (147,840)[158]. - The number of shareholders increased to 43,139 from 38,017 in the previous month, indicating a growth in shareholder base[160]. - The largest shareholder, Beijing Dingxin Ruitong Technology Development Co., Ltd., holds 32.00% of the shares, totaling 114,761,828 shares, which are currently pledged[161]. Corporate Governance - The company has maintained a stable relationship with its accounting firm, which has provided audit services for 23 years, with a fee of CNY 800,000 for the current period[126]. - The company has a strong commitment to corporate governance and transparency, as evidenced by its detailed reporting on shareholder structure and management[164]. - The company has established a strong governance framework, with a dedicated supervisory board led by Ma Hui, ensuring financial oversight and accountability[180]. Risk Management - The company identifies potential risks including pandemic impacts, policy uncertainties, and intensified market competition, and plans to leverage its competitive advantages to seek expansion opportunities[109]. - The company has established stable and good cooperative relationships with upstream gas suppliers, but there is a certain dependency on gas sources, which may impact business operations[110]. Employee Information - The total number of employees in the company is 1,073, with 1,028 in major subsidiaries and 45 in the parent company[187]. - The average annual salary for the general manager is 760,000 CNY, while the average for vice presidents and other senior management is 660,000 CNY[185]. - The company has established a salary system based on hierarchical management, positive incentives, and relative fairness, ensuring a fair compensation structure across departments[189].