银星能源(000862) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was approximately ¥1.36 billion, representing a 13.11% increase compared to ¥1.20 billion in 2020[22]. - Net profit attributable to shareholders for 2021 was approximately ¥93.60 million, a significant increase of 172.87% from ¥34.30 million in 2020[22]. - The net cash flow from operating activities reached approximately ¥1.73 billion, up 210.16% from ¥556.56 million in the previous year[22]. - Basic earnings per share for 2021 were ¥0.1326, reflecting a 172.84% increase compared to ¥0.0486 in 2020[22]. - Total revenue for 2021 reached ¥1,359,465,843.38, representing a year-on-year increase of 13.11% compared to ¥1,201,865,887.77 in 2020[39]. - The power generation sector accounted for ¥1,167,168,366.50, which is 85.85% of total revenue, showing a growth of 21.40% from ¥961,386,459.74 in 2020[40]. - The company reported a significant increase in revenue for 2021, achieving a total of 1.2 billion RMB, representing a year-over-year growth of 15%[99]. - The company reported a net loss of CNY 660,465,755.22 in 2021, compared to a net loss of CNY 754,062,553.81 in 2020, indicating an improvement in financial performance[199]. Assets and Liabilities - Total assets at the end of 2021 were approximately ¥7.44 billion, a decrease of 16.77% from ¥8.93 billion at the end of 2020[23]. - The company's total assets decreased from CNY 8,933,984,596.11 in 2020 to CNY 7,436,186,032.97 in 2021, a reduction of approximately 16.8%[199]. - Total liabilities decreased from CNY 6,248,423,238.67 in 2020 to CNY 4,646,665,281.88 in 2021, a decline of about 25.7%[198]. - Long-term borrowings fell by 27.5% to CNY 2,765,345,000.00, primarily due to repayment of project loans[61]. - The company's total equity increased from CNY 2,685,561,357.44 in 2020 to CNY 2,789,520,751.09 in 2021, an increase of about 3.9%[199]. Operational Highlights - The company has indicated that there are no significant changes in its main business since its listing, focusing on new energy generation and equipment engineering[21]. - The company’s total installed capacity for renewable energy generation was 1,466,800 kW by the end of 2021, with wind power capacity at 1,406,800 kW and solar power capacity at 60,000 kW[34]. - The total electricity generation in 2021 was 2.487 billion kWh, an increase from 2.136 billion kWh in the previous year, while the grid-connected electricity volume was 2.378 billion kWh, up from 2.048 billion kWh[34]. - The company plans to focus on the renovation of old wind farms and the development of centralized solar projects during the 14th Five-Year Plan period to enhance its renewable energy capacity and profitability[32]. Customer and Supplier Relations - The company’s top five customers accounted for 89.41% of total sales, with total sales amounting to ¥1,215,486,950.41[49]. - The top five suppliers accounted for 43.83% of the total annual procurement, with the largest supplier contributing 29.04%[51]. - The largest customer, State Grid Ningxia Electric Power Co., accounted for 70.91% of the total sales[50]. Governance and Management - The company operates independently from its controlling shareholder in terms of business, personnel, assets, institutions, and finance, ensuring complete operational autonomy[80]. - The company has established a transparent performance evaluation and incentive mechanism to attract and retain talent[78]. - The company’s board of directors includes members with varying tenures, ensuring a mix of experience and fresh perspectives in governance[84]. - The company is committed to maintaining a diverse and experienced leadership team to navigate market challenges[90]. - The company has established a comprehensive internal control system covering 18 areas, including organizational structure and financial management[112]. Environmental and Social Responsibility - The company received a "Green Card" rating from the Ningxia Environmental Protection Department in April 2021, indicating no environmental violations[124]. - The company actively participates in rural revitalization efforts, providing support to local communities[129]. - The company has established a volunteer team to assist in pandemic prevention efforts during a COVID-19 outbreak in October 2021[130]. Future Outlook and Strategic Plans - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 15% based on market expansion strategies[99]. - The company plans to enhance resource acquisition, upgrade old units, and develop new energy projects to strengthen its core business in smart operation of renewable energy generation[71]. - The company is in the process of acquiring assets and liabilities related to a 200MW wind power project in Alashan, Inner Mongolia, from its controlling shareholder, Chalco Ningxia Energy Group Co., Ltd.[133].