YNHC(SZ:001896)2021-04-01 16:00Financial Performance - The company reported a total revenue of 10.5 billion CNY for the year 2020, representing a year-on-year increase of 8%[17]. - The net profit attributable to shareholders was 1.2 billion CNY, which is a 15% increase compared to the previous year[17]. - The company's operating revenue for 2020 was ¥8,680,912,573.21, representing a 7.23% increase compared to ¥8,095,232,470.51 in 2019[25]. - Net profit attributable to shareholders for 2020 was ¥291,497,276.71, a significant increase of 197.70% from ¥97,915,101.65 in 2019[25]. - Basic earnings per share for 2020 were ¥0.2533, up 197.65% from ¥0.0851 in 2019[25]. - The company reported a quarterly revenue of ¥2,695,893,714.65 in Q4 2020, marking the highest quarterly revenue for the year[31]. - The net profit attributable to shareholders in Q4 2020 was a loss of ¥121,578,566.15, contrasting with profits in the previous quarters[31]. - The company's total assets at the end of 2020 were CNY 22,373,000,000, with cash and cash equivalents accounting for 5.27% of total assets[95]. - The company reported a net loss from investment income of CNY 29,928,442.18, accounting for -5.33% of total profit[94]. - The total amount of related party transactions for the reporting period was 82,518.88 million CNY, with an approved transaction limit of 99,560 million CNY[182]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces in 2021, aiming for a 20% increase in market share[17]. - Future guidance estimates a revenue growth of 12% for 2021, driven by new projects and market expansion[17]. - The company is exploring potential mergers and acquisitions to enhance its operational capabilities and market reach[17]. - The company aims to expand its comprehensive energy services, including heat, steam, water, and cold energy services, while optimizing internal resource allocation[46]. - The company has initiated a strategic partnership with a leading technology firm to develop smart grid solutions[17]. - The company aims to increase the installed capacity of renewable energy sources, including wind and solar, in line with the "30•60" carbon peak and carbon neutrality goals[58]. Investments and Acquisitions - In July 2020, the company acquired 100% equity of a subsidiary for a cash consideration of ¥59,386,300.00, which was based on the assessed value of the equity[31]. - The company completed a significant acquisition for a total amount of CNY 59,386,300, representing 100% of the funding from its own capital[104]. - The company has ongoing major non-equity investments in renewable energy projects, with total investments amounting to CNY 230,972,541.50 for the Town of Zhenping Wind Farm, which is 91% complete[105]. - Cumulative actual investment in the Changyuan 100MW Wind Farm project reached CNY 419,039,027.18, with 72% of the project completed[105]. - The company plans to issue shares and pay cash to acquire 100% equity of Puyang YN Power Co., Ltd. from its controlling shareholder, Henan Investment Group[191]. Operational Performance - The total installed capacity of power generation reached 5,000 MW, with renewable energy sources contributing 30% of the total capacity[17]. - The average power generation utilization hours exceeded the provincial average by 175 hours, indicating a strong operational performance[57]. - Power generation decreased to 21.135 billion kWh from 22.334 billion kWh, a decline of 5.36% year-on-year[64]. - The average utilization rate of power plants decreased to 4.48% from 5.08% year-on-year[64]. - The company's total installed capacity for thermal power projects reached 6,340 MW, accounting for 10.89% of Henan Province's total public coal-fired installed capacity[43]. Financial Management - The company has no plans to distribute cash dividends or issue bonus shares for the fiscal year 2020[6]. - The company did not distribute any cash dividends in 2020, with a total cash dividend amount of 0.00, representing 0.00% of the net profit attributable to ordinary shareholders[135]. - The company plans to issue short-term financing bonds not exceeding 1 billion RMB to optimize its debt structure[57]. - The company will optimize its financing structure and enhance fund management to improve capital efficiency[129]. - The net cash flow from operating activities decreased by 23.27% to CNY 1,202,121,671.49 from CNY 1,566,642,371.86 in the previous year[89]. Related Party Transactions - The company reported related party transactions amounting to 1,196.85 million RMB for equipment and materials procurement, representing 4.34% of similar transaction amounts[176]. - Sales of coal to related parties amounted to 16,388.19 million RMB, accounting for 9.46% of similar transaction amounts[176]. - The company provided maintenance services to related parties, generating revenue of 812.11 million RMB, representing 42.42% of similar transaction amounts[179]. - The total amount of related party transactions for the reporting period was 82,518.88 million CNY, with an approved transaction limit of 99,560 million CNY[182]. Compliance and Governance - The company committed to providing accurate and complete information, and will bear compensation responsibility for any losses caused by false records or misleading statements[152]. - The company has maintained compliance with all commitments made during the restructuring process, with no violations reported[145]. - The investment group committed to not engaging in any new business that directly or indirectly competes with Henan Yunen Holdings, ensuring compliance with this commitment since 2009[140]. - The company has not reported any changes in its main business since its listing[23]. - There were no major litigation or arbitration matters reported during the period[173].