JEI(SZ:000600)2020-03-23 16:00Financial Performance - The company's operating revenue for 2019 was ¥13,963,722,824.86, a decrease of 0.09% compared to ¥13,976,286,807.36 in 2018[6]. - Net profit attributable to shareholders was ¥639,556,309.98, representing a 48.10% increase from ¥431,841,768.21 in 2018[6]. - The net profit after deducting non-recurring gains and losses was ¥628,420,761.48, up 49.06% from ¥421,583,812.12 in the previous year[6]. - The company's cash flow from operating activities was ¥2,484,173,637.85, a decrease of 3.18% from ¥2,565,710,579.30 in 2018[6]. - Basic earnings per share increased to ¥0.357, a rise of 48.13% compared to ¥0.241 in 2018[6]. - Total assets at the end of 2019 were ¥32,358,230,877.37, an increase of 1.59% from ¥31,852,046,876.87 at the end of 2018[6]. - Net assets attributable to shareholders reached ¥11,463,931,800.87, up 4.65% from ¥10,954,026,612.90 in 2018[6]. - The total operating revenue for 2019 was approximately ¥13.96 billion, showing a slight decrease of 0.09% compared to ¥13.98 billion in 2018[65]. - The power generation segment accounted for 95.05% of total revenue, generating approximately ¥13.27 billion, which is a decrease of 0.76% year-on-year[65]. - The company achieved a total power generation of 398.11 billion kWh in 2019, down 3.25% from 411.47 billion kWh in 2018[68]. Shareholder Information - The total number of shares for the cash dividend distribution is 1,791,626,376 shares, with a cash dividend of 0.00 per 10 shares (tax included) for the year 2019[6]. - The company achieved a cash dividend of CNY 214,995,165.12 for the year 2019, representing 33.62% of the net profit attributable to ordinary shareholders[119]. - The cash dividend per 10 shares for 2019 is CNY 1.20, which is an increase from CNY 1.00 in 2018 and CNY 0.80 in 2017[120]. - The company’s total distributable profit for 2019 is CNY 3,595,875,369.89, with the total cash dividend accounting for 100% of the profit distribution[122]. - The average cash dividend payout ratio over the last three years (2017-2019) was 43.35%[170]. Business Operations - The company has undergone a business change since April 27, 2004, shifting its main business focus to energy projects primarily involving investment, construction, and management of power generation[19]. - The company has a comprehensive business structure, including subsidiaries involved in power generation and energy services, enhancing its market presence[12]. - The company controlled an operational installed capacity of 8.15 million kilowatts and a construction capacity of 0.35 million kilowatts by the end of 2019[35]. - The company reported a total of 10 controlled power generation companies and 1 sales company, with 12 equity power generation companies[35]. - The company is actively participating in direct electricity trading, with 73 users and a total electricity volume of 8.181 billion kWh[62]. - The company is pursuing overseas investment opportunities and developing projects abroad[62]. Environmental Compliance - The average concentration of nitrogen oxides emissions was 30.4 mg/Nm³, and sulfur dioxide emissions were 19.44 mg/Nm³, meeting ultra-low emission standards[60]. - The company’s controlled power generation units have met the deep emission reduction standards required by Hebei Province[113]. - The company has committed to actively respond to increasingly stringent environmental policies and improve the reliability and economic efficiency of its environmental protection systems[113]. - The company has implemented a deep reduction of air pollutants, achieving acceptance standards by the end of 2019[190]. - The company’s coal-fired power generation units have achieved ultra-low emissions for nitrogen oxides, sulfur dioxide, and particulate matter, complying with national standards[184]. Research and Development - The company’s total research and development investment increased significantly to ¥51,465,482.95 in 2019, a 618.54% increase compared to ¥7,162,510.73 in 2018[77]. - The company has obtained 9 software copyrights and filed 6 invention patents through its key R&D projects[57]. - The company has accumulated a significant number of professional technical talents, supporting its specialized and market-oriented development[45]. - The company is committed to technological innovation and aims to improve its R&D capabilities to support its strategic goals[107]. Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management, ensuring accountability[6]. - The company emphasizes transparency and compliance with regulatory requirements, as evidenced by its commitment to accurate financial reporting[6]. - The company has a strong governance structure and a highly efficient management team, contributing to its competitive advantage in the market[43]. - The company has not faced any major penalties or rectification issues during the reporting period[135]. - The company has not reported any significant accounting errors requiring restatement during the reporting period[128]. Strategic Initiatives - The company plans to enhance its operational management and improve the market competitiveness of existing assets, focusing on safety and cost control[107]. - The company aims to expand its thermal energy business and integrate market resources to increase profitability in this segment[109]. - The company is actively pursuing capital operations to optimize its shareholder structure and attract strategic investors for growth[110]. - The company is exploring potential mergers and acquisitions to enhance its market position and diversify its portfolio[197]. - A new strategic initiative focuses on increasing operational efficiency, aiming for a 5% reduction in operational costs by the end of 2020[197]. Customer and Market Expansion - User data indicates that the company expanded its customer base by 25%, reaching a total of 500,000 users by the end of 2019[197]. - The company reported a 30% increase in market share within the renewable energy sector, positioning itself as a leader in this industry[197]. - Future outlook includes a projected revenue growth of 10% for 2020, driven by market expansion and new product launches[197]. Investment and Financing - The company made a significant equity investment of ¥35,703,200.00 in Zhu Hua Thermal Power, acquiring a 51.00% stake[88]. - The company also invested ¥18,000,000.00 in a heating company, obtaining a 100.00% ownership[91]. - The company provided bank loan guarantees for its associate Shanxi International Energy Yuguang Coal Power Co., Ltd., with a guarantee limit of 1.152 billion RMB, and the actual guarantee balance was 501.6 million RMB at the end of the reporting period[149]. - The company has a total of 207.2 million RMB in approved external guarantees, with an actual guarantee balance of 501.6 million RMB, representing 4.38% of the company's net assets[160].