JEI(SZ:000600)2021-03-31 16:00Financial Performance - The company's operating revenue for 2020 was ¥14,219,347,121.09, representing a 1.83% increase from ¥13,963,722,824.86 in 2019[26]. - The net profit attributable to shareholders for 2020 was ¥924,852,743.77, a significant increase of 44.61% compared to ¥639,556,309.98 in 2019[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥901,911,386.22, up 43.52% from ¥628,420,761.48 in 2019[26]. - The net cash flow from operating activities for 2020 was ¥2,632,335,313.03, reflecting a 5.96% increase from ¥2,484,173,637.85 in 2019[26]. - The basic earnings per share for 2020 was ¥0.516, an increase of 44.54% from ¥0.357 in 2019[26]. - The total assets at the end of 2020 were ¥33,884,899,569.78, a 4.72% increase from ¥32,358,230,877.37 at the end of 2019[26]. - The net assets attributable to shareholders at the end of 2020 were ¥12,173,789,379.52, up 6.19% from ¥11,463,931,800.87 at the end of 2019[26]. - The company achieved a gross margin of 23.68% in the power generation segment, an increase of 2.81 percentage points year-on-year[73]. - The company reported a net profit of 183,278,975.24 CNY for the subsidiary Xidian Company, with total revenue of 2,108,958,155.89 CNY[114]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 1.70 CNY (including tax) for every 10 shares based on a total of 1,791,626,376 shares[6]. - In 2020, the company distributed cash dividends of 304,576,483.92 CNY, representing 32.93% of the net profit attributable to ordinary shareholders[133]. - The company's cash dividend for 2020 was set at 1.70 CNY per 10 shares, based on a total share capital of 1,791,626,376 shares[136]. - The average cash dividend payout ratio over the last three years (2018-2020) was 43.35%[188]. Operational Capacity and Projects - The company controlled an operational capacity of 9.15 million kilowatts and a construction capacity of 0.7 million kilowatts[40]. - The company's installed power generation capacity reached 1,908.7 million kW, a year-on-year increase of 9.5%[43]. - Non-fossil energy power generation capacity was 980 million kW, accounting for 44.8% of total installed capacity[43]. - The company completed a total heat supply of 49.45 million GJ, an increase of 9.64% year-on-year, with an additional heating area of 13.53 million square meters[56]. - The average utilization hours of power generation units reached 4,671 hours, exceeding the national average by 455 hours[58]. - The company acquired 51% equity in Shouyang Thermal Power and 50% equity in Yangquan Thermal Power, expanding its regional layout[53]. - The company has completed the transfer of stakes in several profitable thermal power assets, including a 30% stake in Hebei Datang International Wangtan Power Co., Ltd. and a 29.43% stake in Guodian Hebei Longshan Power Co., Ltd.[137]. Market and Strategic Focus - The company operates primarily in energy projects, focusing on investment, construction, and management of power generation[22]. - The company has a strategic focus on expanding its market presence in the energy sector[22]. - The company aims to achieve a clean energy transition and enhance its competitive edge by focusing on clean energy development and optimizing its energy supply structure during the "14th Five-Year Plan" period[119]. - The company plans to increase its clean energy capacity and improve the efficiency of traditional energy production, targeting a more balanced energy supply structure by the end of the "14th Five-Year Plan" period[119]. - The company is committed to transitioning towards a low-carbon economy in response to national carbon neutrality goals set for 2030 and 2060[116]. - The company is actively pursuing opportunities in strategic emerging industries to drive high-quality growth[120]. Environmental Compliance - The company has achieved compliance with environmental standards for major pollutants and will continue to enhance its environmental management systems[126]. - The company and its subsidiaries are classified as key pollutant discharge units by the environmental protection department[199]. - Major pollutants include sulfur dioxide, smoke, and nitrogen oxides, with specific emission concentrations reported[199]. - The nitrogen oxides emission concentration is 19.48 mg/m³, which is below the standard of 50 mg/m³[199]. - The total approved discharge amount for nitrogen oxides is 1,200 tons, indicating compliance with environmental regulations[199]. - The concentration of smoke emissions is reported at 1.71 mg/m³, well below the standard of 10 mg/m³[199]. - No violations of emission standards have been reported for any of the pollutants across the subsidiaries[199]. Research and Development - Research and development expenses decreased significantly by 88.74% to ¥394,950.93 in 2020, with the number of R&D personnel increasing by 95.83% to 47[83][84]. - The total amount of R&D investment in 2020 was ¥9,512,599.06, a decrease of 81.52% from ¥51,465,482.95 in 2019[87]. - The company will increase its investment in technology research and development to enhance innovation and application of technological achievements[123]. - The company emphasizes technological innovation and reform as key drivers for enhancing core competitiveness and achieving high-quality development[119]. Related Party Transactions - The total amount of related party transactions for the reporting period was CNY 28,561.86 million, with a significant portion being energy management and technical services[157]. - The company’s related party transactions accounted for up to 89.39% of similar transactions in certain categories[156]. - The company disclosed its related party transactions in accordance with regulatory requirements, ensuring transparency[156]. - The company has a receivable from a related party, with an initial balance of 1,922.42 million CNY and a year-end balance of 1,844.89 million CNY, indicating a decrease of approximately 4.05%[164]. Governance and Internal Control - The company is committed to improving its governance and internal control effectiveness to ensure sustainable development[123]. - The company has engaged Lianda Accounting Firm for internal control audits for the fiscal year 2020, with a service fee of CNY 1.6 million[146]. - The company has not engaged in any entrusted financial management during the reporting period[182]. - The company has no violations regarding external guarantees during the reporting period[179]. Social Responsibility - The company has implemented a poverty alleviation program, helping 219 registered impoverished individuals to escape poverty[192]. - In 2020, the company invested 55,000 CNY in poverty alleviation funds and 9,000 CNY in material assistance[193]. - The company plans to continue its poverty alleviation efforts in 2021, focusing on sustainable development and preventing a return to poverty[198].