JEI(SZ:000600)2022-04-20 16:00Financial Performance - The company did not achieve profitability in both the parent and consolidated financial statements for 2021, leading to a decision not to distribute cash dividends or issue bonus shares[9]. - The company's operating revenue for 2021 was ¥15,040,803,080.87, a decrease of 2.14% compared to the adjusted revenue of ¥15,370,326,991.01 in 2020[32]. - The net profit attributable to shareholders was -¥2,210,300,112.88, representing a significant decline of 330.75% from the adjusted net profit of ¥957,890,066.91 in 2020[32]. - The basic and diluted earnings per share for 2021 were both -¥1.234, a decrease of 330.65% compared to ¥0.516 in 2020[35]. - The net cash flow from operating activities was ¥148,174,117.62, down 94.81% from ¥2,632,335,313.03 in 2020[35]. - The company reported a net loss of -¥1,470,312,559.42 for the fourth quarter of 2021, with a significant decline in net profit across the quarters[39]. - The weighted average return on equity was -20.24% for 2021, a decrease of 28.07 percentage points from 7.84% in 2020[35]. - In 2021, the company achieved operating revenue of 15.041 billion yuan, a decrease of 2.41% year-on-year, and a net profit attributable to shareholders of -2.21 billion yuan[63]. Assets and Liabilities - The company's asset-liability ratio increased in 2021, indicating a rise in financial leverage[9]. - Total assets at the end of 2021 were ¥38,527,872,934.56, an increase of 7.76% from ¥35,752,622,712.62 at the end of 2020[35]. - The net assets attributable to shareholders decreased by 23.42% to ¥9,593,176,462.45 from ¥12,527,191,989.71 in 2020[35]. - Accounts receivable decreased by 0.82% to approximately ¥2.08 billion, representing 5.41% of total assets[105]. - Long-term equity investments decreased by 3.16% to approximately ¥4.07 billion, accounting for 10.56% of total assets[105]. - Fixed assets decreased by 4.39% to approximately ¥18.92 billion, making up 49.10% of total assets[105]. - Short-term borrowings decreased by 5.47% to approximately ¥3.30 billion, representing 8.56% of total liabilities[105]. - Long-term borrowings increased by 12.19% to approximately ¥13.04 billion, accounting for 33.84% of total liabilities[105]. Revenue Streams - The power generation sector contributed ¥13,531,098,609.27, accounting for 89.96% of total revenue, down 5.81% from the previous year[80]. - The heating supply business saw a revenue increase of 31.46%, reaching ¥748,321,564.69, due to an increase in heating area supplied by subsidiaries[81]. - The trading and circulation sector experienced significant growth, with revenue rising 552.29% to ¥236,153,921.05, primarily driven by increased coal sales[80]. - The total sales volume of electricity decreased by 7.31% to 389.92 billion kWh, while the on-grid electricity volume also fell by 7.46% to 362.97 billion kWh[82]. Operational Metrics - The company's total installed capacity reached 9.15 million kW, an increase from 8.50 million kW in the previous year[54]. - The company's electricity generation was 38.992 billion kWh, a decrease of 7.46% compared to 42.068 billion kWh in 2020[55]. - The average on-grid electricity price was 366.06 RMB/MWh, a slight increase of 0.27% from 365.09 RMB/MWh in the previous year[55]. - The average utilization hours of the generating units were 4,261 hours, a decrease of 396 hours from the previous year[55]. - The company operates 12 wholly-owned and controlled power generation companies, with a total of 962 million kW of equity operating capacity[54]. Research and Development - The company is focusing on technological innovation, having obtained 37 authorized patents in 2021, including 6 national invention patents[61]. - The company invested 441 million yuan in technology projects, a year-on-year increase of 36.64%[72]. - R&D expenses surged by 533.50% year-on-year, reaching ¥252,269,520.86 in 2021, reflecting the company's increased investment in research and development[90]. - The total R&D investment amounted to ¥265,019,048.53 in 2021, a significant increase of 374.87% compared to ¥55,808,843.86 in 2020[94]. - The number of R&D personnel rose to 831 in 2021, an increase of 11.10% from 748 in 2020[94]. Environmental and Regulatory Compliance - The company reduced SO2 emissions by 283.81 tons (11.19% decrease), NOx emissions by 200.03 tons (5.34% decrease), and dust emissions by 29.12 tons (8% decrease) compared to the previous year[76]. - The company will actively respond to environmental policies and enhance its environmental governance to meet stringent emission standards[145]. - The company maintains strict compliance with corporate governance regulations, ensuring no significant discrepancies with legal requirements[150]. Corporate Governance - The company has established a comprehensive governance structure to ensure the accuracy and completeness of its financial reports[7]. - The company has established independent committees within the board, including strategy, audit, and remuneration committees, ensuring clear responsibilities[150]. - The company has independent financial management systems and does not share bank accounts with its controlling shareholder[152]. - The company ensures that all shareholders can exercise their rights fairly and has implemented measures for transparent information disclosure[150]. - The company has a clear and independent organizational structure, fully separated from its controlling shareholder[152]. Future Outlook - The company aims to become a "regionally leading, nationally first-class" comprehensive energy enterprise, focusing on quality and efficiency, with a commitment to green and low-carbon development[139]. - By 2025, the domestic energy annual comprehensive production capacity is expected to reach 4.6 billion tons of standard coal, with non-fossil energy consumption accounting for approximately 20%[133]. - The company anticipates a 5%-6% year-on-year growth in total electricity consumption for 2022, with non-fossil energy generation capacity expected to reach 50% of total installed capacity[134]. - The company plans to enhance its governance level and risk management capabilities, establishing a long-term incentive mechanism to stimulate corporate vitality[139]. - The company will strengthen its market competitiveness by optimizing its business structure and increasing its focus on clean energy development[144].