JEP(SZ:000875)2022-03-30 16:00Business Operations and Strategy - The company reported a significant change in its main business operations, focusing on thermal power, hydropower, and new energy development, with a shift in strategy to include energy consulting and coal wholesale[22]. - The company has undergone several changes in its main business since its listing, adapting to market demands and regulatory requirements[22]. - The company has expanded its renewable energy business across 30 provinces and regions in China, establishing a nationwide development pattern[40]. - The company is actively pursuing the development of hydrogen energy and energy storage technologies as part of its strategic expansion[40]. - The company is focusing on innovative project development models to maintain high-speed growth in new energy installed capacity[129]. - The company is focusing on new energy development and hydrogen energy industry strategies, as discussed in various investor meetings throughout 2021[141]. Financial Performance - The company's operating revenue for 2021 was ¥13,177,555,792.25, representing a year-over-year increase of 30.99% compared to ¥10,060,017,627.94 in 2020[28]. - The net profit attributable to shareholders for 2021 was ¥450,378,911.90, a decrease of 5.79% from ¥478,079,296.98 in 2020[28]. - The net profit after deducting non-recurring gains and losses was ¥360,527,498.14, which is an increase of 11.45% from ¥323,496,990.84 in 2020[28]. - The total assets at the end of 2021 were ¥66,751,956,212.30, reflecting a 19.01% increase from ¥56,090,328,496.14 at the end of 2020[28]. - The net assets attributable to shareholders increased by 33.90% to ¥10,456,350,031.92 from ¥7,808,792,439.17 in 2020[28]. - The basic earnings per share for 2021 were ¥0.17, down 22.73% from ¥0.22 in 2020[28]. - The diluted earnings per share also stood at ¥0.17, a decrease of 22.73% compared to ¥0.22 in the previous year[28]. - The weighted average return on equity was 4.65%, down from 6.31% in 2020, indicating a decline in profitability[28]. Investments and Acquisitions - The company completed the acquisition of Fuxin Zhengtai Solar Power Co., Ltd. for ¥4,991,500.00, holding a 100% stake[86]. - The acquisition of Changchun Zhetai Solar Power Co., Ltd. was completed for ¥681,218,809.62, with a 51% ownership stake[86]. - The company has ongoing investments in various renewable energy projects, including a 200MW solar project with an investment of 5,486,000.00[92]. - The company has a long-term strategy focused on expanding its renewable energy portfolio through acquisitions and self-built projects[89]. - The company is actively pursuing mergers and acquisitions to enhance its market position and expand its operational capabilities[172]. Risk Management and Governance - The company emphasizes the importance of risk management, detailing potential risks in its annual report[5]. - The company has established a comprehensive internal audit system to ensure compliance and effective execution of regulations, enhancing economic efficiency and risk management[151]. - The company emphasizes the importance of independent operations and governance structures, ensuring compliance with relevant laws and regulations[146]. - The company has maintained a transparent information disclosure policy, ensuring all shareholders have equal access to information[149]. - The company is committed to enhancing its internal control system and has conducted evaluations and reports on internal controls for the year 2020[184]. Employee and Management - The total number of employees at the end of the reporting period was 4,567, including 1,431 at the parent company and 3,136 at major subsidiaries[190]. - The company conducted 57 internal training sessions during the year, with over 3,120 participants, achieving a 100% safety training pass rate and full coverage of employee training[193]. - The company reported a significant management turnover, with multiple key positions changing hands on July 23, 2021, including the departure of the General Manager and Financial Director[161]. - The company is actively working on succession planning to ensure stability in leadership roles[161]. - The company has a diverse board with members holding advanced degrees and significant industry experience, including several independent directors[162]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility, as outlined in its annual report[21]. - The company has maintained a focus on green and low-carbon development, aligning with national policies aimed at achieving carbon peak and carbon neutrality goals[40]. - The company has introduced a carbon neutrality fund to increase investment in renewable energy, reflecting a commitment to sustainability[157]. Market and Competitive Position - The company is facing electricity price risks due to the deepening reform of the electricity system, with a market mechanism established for coal-fired power generation[136]. - The company aims to secure 100% coverage of long-term coal contracts as per national requirements and optimize coal procurement strategies[136]. - The company has not faced significant competition issues within its industry, indicating a stable market position[153]. - The company ranked 270th in the Global Top 500 New Energy Enterprises in 2021, improving by 35 places from the previous year[40].