SPNG(SZ:002267)2021-04-12 16:00Financial Performance - The company's operating revenue for 2020 was ¥8,195,788,686.41, a decrease of 15.93% compared to ¥9,582,081,343.77 in 2019[19] - The net profit attributable to shareholders of the listed company was ¥356,561,007, down 21.79% from ¥446,974,452 in 2019[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 327,390,604.99, a decrease of 26.55% compared to the previous year[23] - The net cash flow from operating activities was CNY 998,271,102.73, down 45.20% year-on-year[23] - Basic and diluted earnings per share were both CNY 0.3206, reflecting a decline of 21.80% from the previous year[23] - Total assets increased by 6.65% to CNY 13,319,110,620.07 at the end of 2020[23] - The net assets attributable to shareholders rose by 0.30% to CNY 6,147,979,726.61[23] - The main business revenue decreased by 15.90% year-on-year, primarily due to a shift from natural gas sales to pipeline transportation services[51] - The total revenue for 2020 was significantly impacted, with a net cash flow from operating activities decreasing by 45.20% to ¥998,271,102.73 compared to ¥1,821,724,835.72 in 2019[67] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥2.00 per 10 shares (including tax) based on a total of 1,112,075,445 shares[4] - The proposed cash dividend for 2020 remains at 2.00 CNY per 10 shares, with an expected total distribution of 222,415,089.00 CNY[100] - The cash dividend payout ratio for 2020 is 62.38% of the net profit attributable to shareholders[103] - The company has maintained a consistent dividend policy over the past three years without issuing new shares or capital reserve transfers[99] - The company distributed a total dividend of 222 million yuan at a rate of 0.2 yuan per share for the 2019 fiscal year, marking 11 consecutive years of cash dividends totaling 2.159 billion yuan since its listing in 2008[165] Business Operations and Expansion - In 2020, the company constructed and operated 47 natural gas pipelines with a total length of 3,769 kilometers, achieving an annual gas transmission capacity of 16.5 billion cubic meters[33] - The company expanded its urban gas business, building over 2,000 kilometers of medium and high-pressure gas pipelines and serving over 600,000 users[33] - The market coverage rate reached 32.71% after acquiring stakes in Weinan Natural Gas and other companies[33] - The company transitioned its long-distance pipeline operation model to a mixed model of unified purchase and sales plus transportation services[33] - The company has established a gas pipeline network covering 11 cities in Shaanxi, with a total pipeline length of approximately 3,769 kilometers and an annual gas transmission capacity of 16.5 billion cubic meters[40] - The company has invested in multiple subsidiaries to engage in urban gas business across 8 districts and 27 counties, achieving a coverage rate of 32.71% in Shaanxi province[40] - The company completed the acquisition of 51% equity in Weinan Natural Gas in April 2020 and integrated two city gas companies, enhancing its market presence[47] - The company is focusing on mergers and acquisitions to expand its market presence and enhance its industry position[90] Financial Management and Investments - The company raised a total of 2.059 billion yuan through equity financing and 5.5 billion yuan through debt financing tools, demonstrating strong financing capabilities[46] - The company has restricted cash amounting to ¥16,249,291.52, which accounts for 0.122% of total assets[73] - The company is currently undertaking several major non-equity investments, with a total investment of ¥390,105,011.91 reported for various gas supply projects[81] - The company has a financing lease of CNY 1 billion for gas storage and peak-shaving pipeline assets, with a term of 36 months[153] - The total amount of entrusted loans during the reporting period was CNY 60 million, with an outstanding balance of CNY 30 million[157] Regulatory Compliance and Governance - The company operates under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council[17] - The company is in compliance with all regulatory requirements and is committed to maintaining investor interests[110] - The company has no penalties or rectification issues during the reporting period[123] - The company has no stock incentive plans or employee shareholding plans in place during the reporting period[125] - The audit firm Sigma CPA has been retained for one year with an audit fee of 950,000 RMB, including 660,000 RMB for annual report audit and 290,000 RMB for internal control audit[117] Social Responsibility and Community Engagement - The company invested over 38 million yuan in poverty alleviation projects in the Yan'an region, aiming to support the local economy and assist in poverty reduction efforts[169] - The company allocated 210 million yuan for infrastructure and tourism projects in Yanchuan County, contributing to local development and poverty alleviation[172] - The company established a mother and baby care room and a love care class to support employees, addressing their concerns during the pandemic[167] - The company donated 182,600 yuan for COVID-19 prevention efforts, demonstrating its commitment to social responsibility during the pandemic[168] - The company has received multiple awards for its poverty alleviation efforts, including recognition as an "Outstanding First Secretary" and "Advanced Individual in Poverty Alleviation Work" for 2019[175] Future Outlook and Strategic Goals - The company aims to expand its resource advantages during the 14th Five-Year Plan period, supported by multiple policies promoting clean energy development and environmental governance[36] - The company plans to sell (transport) 6.215 billion cubic meters of gas in 2021, aiming for a revenue of 7 billion yuan and a total profit of 500 million yuan[91] - The company is focused on maintaining a robust financial position while exploring new strategies for growth and development in the natural gas sector[161] - The company anticipates potential adjustments in gas pipeline transportation prices, which may impact profitability but could also stimulate user demand[92] - The company is committed to ongoing research and development of new technologies in the natural gas sector[131]