晋控电力(000767) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥11,687,528,652.08, a decrease of 2.81% compared to ¥12,025,002,573.32 in 2019[22] - The net profit attributable to shareholders of the listed company was ¥226,030,437.94, representing a significant increase of 231.75% from ¥68,131,964.33 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥168,218,222.00, a turnaround from a loss of ¥55,123,416.22 in 2019, marking a 405.17% improvement[22] - Basic earnings per share rose to ¥0.0735, a 232.58% increase compared to ¥0.0221 in the previous year[22] - The weighted average return on net assets was 2.93%, up from 0.90% in the previous year[22] - The gross profit margin improved to 35% in 2020, up from 30% in 2019, indicating better cost management[164] Cash Flow and Investments - The net cash flow from operating activities increased by 28.28% to ¥2,843,943,730.57, up from ¥2,216,905,412.48 in 2019[22] - Operating cash inflow increased by 8.80% from 11,294,888,414.49 yuan in 2019 to 12,288,928,969.97 yuan in 2020[66] - Investment cash inflow decreased significantly by 85.81% from 3,835,462,920.80 yuan in 2019 to 544,106,191.42 yuan in 2020[66] - The company reported a significant difference between net cash flow from operating activities and net profit, with a difference of 2,606,265,635.30 yuan[67] - Investment income accounted for 37.73% of total profit, primarily from long-term equity investments[68] Assets and Liabilities - Total assets at the end of 2020 were ¥56,853,939,284.09, an increase of 11.62% from ¥50,935,982,708.41 at the end of 2019[22] - The net assets attributable to shareholders of the listed company increased by 8.18% to ¥8,237,058,782.83 from ¥7,614,028,344.88 in 2019[22] - Accounts receivable increased to ¥4,981,780,920.53, accounting for 8.76% of total assets, up from 7.47% at the beginning of the year, primarily due to increased electricity receivables[69] - Long-term borrowings increased to ¥10,946,444,338.59, representing 19.25% of total assets, up from 18.18% at the beginning of the year, mainly due to long-term loans for new projects[71] Operational Performance - The company's total power generation reached 37.235 billion kWh in 2020, an increase of 2.88% year-on-year[33] - The total heat supply was 34.4797 million GJ, reflecting a growth of 7.63% compared to the previous year[33] - The average utilization hours of power plants increased to 4,339 hours, up from 4,200 hours year-on-year[41] - The company achieved a 64.48% gross margin in wind power generation, reflecting a 2.44% increase in gross margin year-on-year[49] Strategic Plans and Development - The company aims to enhance the proportion of renewable energy in its power generation mix, focusing on large-capacity and high-parameter power projects[35] - The company has a clear long-term development plan, with five projects included in the key project list for Shanxi Province in 2020[35] - The company plans to build a series of key projects that integrate wind, solar, coal, and storage energy during the 14th Five-Year Plan, leveraging the resource advantages of the Datong area[90] - The company is actively pursuing projects that align with national policies on circular economy and low calorific value coal power generation[100] Environmental Responsibility - The company has emphasized the importance of environmental responsibility and has established a long-term mechanism for dust control and management[142] - The company has implemented a series of environmental measures to enhance supervision and management, including regular inspections and upgrades to dust control facilities[142] - The company reported a total emission of 31.60 tons of particulate matter, 458.23 tons of sulfur dioxide, and 1,108.78 tons of nitrogen oxides, all within the regulatory limits[190] - The company has completed ultra-low emission retrofitting for all 10 active thermal power units, meeting the environmental standards set by Shanxi Province[198] Social Responsibility - The company has actively fulfilled its social responsibilities, including employee welfare and community support initiatives[182] - The company participated in poverty alleviation projects, providing 940.6 million RMB in funding and helping 3,467 registered impoverished individuals to escape poverty[185] - The company has implemented photovoltaic poverty alleviation projects, benefiting 1,600 households with an annual payment of 3,000 RMB per household for 20 years[184] Research and Development - The company applied for 7 patents and published 70 scientific papers in 2020, indicating a commitment to innovation[41] - The company has committed to technological innovation, with 18 key projects under research, including the development of an automated cleaning robot technology for power plants[91] - The company has invested 10,000 million in new technology research and development, focusing on sustainable energy solutions[163] Compliance and Governance - The company has maintained compliance with its commitments regarding related party transactions and will continue to do so in accordance with legal regulations[105] - The company has committed to continuous compliance with its promises to minority shareholders, with all commitments being fulfilled on time[127] - The company has ensured that there are no violations regarding the occupation of assets or funds by its controlling entities[109]