JXGNCL(SZ:000899)2020-04-16 16:00Financial Performance - The company's operating revenue for 2019 was CNY 2,670,327,894.24, representing a 4.00% increase from CNY 2,567,638,500.78 in 2018[24]. - The net profit attributable to shareholders of the listed company was CNY 243,234,380.58, an increase of 29.03% compared to CNY 188,503,330.99 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 251,343,704.66, up 46.12% from CNY 172,013,056.69 in 2018[24]. - The basic earnings per share for 2019 was CNY 0.25, a 31.58% increase from CNY 0.19 in 2018[24]. - The total revenue from operating activities increased by 2.17% to ¥2,776,380,737.32 in 2019 from ¥2,717,461,623.11 in 2018[68]. - The company's financial expenses decreased by 8.21% to ¥101,406,151.66 in 2019 from ¥110,477,916.52 in 2018 due to a reduction in loan principal[67]. - The company reported a total sales volume of 715,531.07 million kWh in 2019, a 1.26% increase from 706,623.83 million kWh in 2018[57]. - The company’s net profit from Dongjin Power was insufficient to cover previous cumulative losses, resulting in no distributable profits for 2019[185]. Assets and Liabilities - The total assets at the end of 2019 were CNY 7,351,571,313.77, a decrease of 3.01% from CNY 7,579,889,157.29 at the end of 2018[24]. - The company's long-term equity investments increased by 17.37% to ¥1,370,536,523.17, accounting for 18.64% of total assets[75]. - The company's total liabilities decreased by 2.09% in the short-term borrowings category, amounting to ¥1,516,740,912.51[75]. Cash Flow - The net cash flow from operating activities was CNY 349,307,113.55, reflecting a 13.51% increase from CNY 307,731,542.72 in 2018[24]. - The company’s cash flow from operating activities for Q1 was 224 million yuan, while Q2 was 96.66 million yuan[29]. - The net cash flow from investing activities showed a significant decline of 209.22%, resulting in a net outflow of ¥794,067,961.47 in 2019 compared to a net inflow of ¥727,045,428.87 in 2018[68]. - The total cash and cash equivalents decreased by 194.80%, with a net decrease of ¥948,630,633.08 in 2019 compared to an increase of ¥1,000,630,487.44 in 2018[68]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 1 per 10 shares, totaling CNY 97,567,776[7]. - The cash dividend for 2019 represents 40.11% of the net profit attributable to ordinary shareholders, with a total net profit of 243,234,380.58 yuan[130]. - The company has a policy that mandates a minimum cash dividend of 10% of the distributable profit for the current year and a cumulative cash distribution of at least 30% of the average annual distributable profit over the last three years[130]. - The company has committed to ensuring that cash dividends represent a minimum of 40% of profit distribution during its mature development stage[130]. Business Operations - The total power generation for the year was 7.513 billion kWh[44]. - The electricity segment accounted for CNY 2,629,238,626.43, or 98.46% of total revenue, with a year-on-year growth of 3.80%[52]. - The company is actively transitioning towards a comprehensive energy service provider, focusing on electricity marketing and energy services[45]. - The company’s water power plants achieved a utilization rate of 126.32% for the year[44]. Safety and Risk Management - The company has conducted 41 safety inspections and training sessions, enhancing risk control and safety culture[44]. - The company plans to enhance its safety management level and risk control measures, focusing on improving emergency management capabilities and standardizing production safety[115]. Investments and Projects - The company made a significant equity investment of ¥10,200,000.00 in Jiangxi Gan Energy Service Co., holding a 51% stake, with normal operational progress reported[79]. - The company has invested ¥41,654.83 in the Fengcheng Power Plant Phase III expansion project, achieving an investment progress of 85.56%[93]. - The company is currently executing contracts related to the expansion of the Fengcheng Power Plant, with a total project value of approximately 298,496,000 RMB[198]. Corporate Governance - The company has established a complete decision-making process for profit distribution, requiring independent directors to provide independent opinions on dividend proposals[130]. - The company is committed to optimizing its governance structure and enhancing employee motivation through reforms, including performance assessments and competitive compensation[115]. - The audit firm Tianjian Certified Public Accountants has been retained for 8 consecutive years, with an audit fee of 800,000 RMB for the current period[157]. Related Party Transactions - The company engaged in related party transactions, including coal procurement from Jiangxi Investment Logistics Co., Ltd., amounting to 12.0134 million RMB, representing 0.62% of similar transactions[169]. - The company reported a total of 1,201.34 million CNY in related party transactions for coal procurement, with an actual amount of 228.97 million CNY occurring during the reporting period[175]. - The total related party transactions for coal procurement with Jiangxi Coal Industry Group were expected to be 4,842.7 million CNY, with an actual amount of 3,168.18 million CNY[179]. Legal and Compliance - There are ongoing litigation matters involving Jiangxi Ganneng, with a total amount in dispute of 52.2474 million RMB related to a contract dispute with Jiangsu Mingjiang Engineering Co., Ltd.[159]. - The company has not faced any bankruptcy reorganization or delisting issues during the reporting period[158]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[151].