贝肯能源(002828) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥935,753,630.82, a decrease of 33.54% compared to ¥1,408,054,624.02 in 2019[16] - The net profit attributable to shareholders for 2020 was ¥24,928,157.88, down 42.70% from ¥43,502,136.64 in the previous year[16] - The net profit after deducting non-recurring gains and losses was ¥18,757,292.93, a decline of 43.07% from ¥32,947,856.79 in 2019[16] - The basic earnings per share decreased to ¥0.12, down 45.45% from ¥0.22 in 2019[16] - The company's revenue from oil and gas exploration and development was approximately ¥926.77 million, a decrease of 33.76% year-over-year, with a gross margin of 23.25%[45] - The drilling engineering segment generated revenue of approximately ¥862.32 million, also down 33.23% year-over-year, with a gross margin of 23.32%[45] - In 2020, the company's total revenue was 935.75 million yuan, a decrease of 33.54% year-on-year, and net profit was 24.93 million yuan, down 42.7% year-on-year[84] - For 2021, the company expects to achieve a revenue of 1.136 billion yuan and a net profit of 70 million yuan after deducting non-recurring gains and losses[85] Cash Flow and Assets - The net cash flow from operating activities improved to ¥55,038,672.90, a significant increase of 166.40% compared to a negative cash flow of ¥82,885,475.55 in 2019[16] - Total assets at the end of 2020 were ¥2,629,489,650.07, an increase of 4.23% from ¥2,522,693,035.55 at the end of 2019[16] - The net assets attributable to shareholders increased slightly to ¥978,469,293.58, up 0.68% from ¥971,870,768.92 in 2019[16] - The company reported a net asset impairment of ¥26,394,227.59, with overseas assets accounting for 1.25% of total net assets[31] - The total cash dividends distributed in 2019 and 2018 were CNY 12,193,648.90 and CNY 12,275,217.77, respectively, representing 28.03% and 27.01% of the net profit[100] Operational Highlights - In Q1 2020, the company reported revenue of ¥168.20 million, which increased to ¥323.56 million in Q4 2020, showing a significant growth of 92.5% quarter-over-quarter[20] - The company utilized 39 drilling rigs in 2020, completing a total footage of 282,000 meters, a reduction of 112,300 meters or approximately 28% from the previous year[38] - The company achieved significant operational records, including the longest horizontal section of 2,213 meters drilled in the MaHW6460 well, completed in 34 days[34] - The company maintained a focus on market development, successfully expanding into Ukraine and Southwest markets despite challenges from the pandemic and client workload reductions[39] Strategic Initiatives - The company aims to enhance its core drilling services and directional well technology while optimizing the oilfield engineering service industry chain[25] - The company has established a strategic layout in four major markets: Sichuan Basin, Tarim Basin, Junggar Basin, and overseas markets in Ukraine, laying a solid foundation for long-term development[28] - The company plans to implement a digital transformation strategy over the next three years to enhance engineering and management capabilities[40] - The company plans to enhance market development efforts, particularly in the southwest region, and expand investments in unconventional oil and gas and coalbed methane sectors[86] Research and Development - The company applied for 62 patents by the end of 2020, with 44 granted, including 10 invention patents[33] - The company plans to strengthen R&D by collaborating with renowned research institutions and advancing projects related to special drilling techniques and reservoir modification[88] - The budget for the key project "Research and Application of Integrated Key Technologies for Tight Oil and Gas Drilling" is set at 34 million yuan, with implementation from January 1, 2020, to December 30, 2021[89] Shareholder Information - The company proposed a cash dividend of CNY 0.60 per 10 shares for the fiscal year 2020, based on a total share capital of 200,987,600 shares, resulting in a total cash dividend of CNY 12,059,256.00[98] - The cash dividend for 2020 accounted for 48.38% of the net profit attributable to the company's ordinary shareholders[99] - The company has maintained a cash dividend payout ratio of 100% for the reported period, indicating a commitment to returning profits to shareholders[100] - The total number of shares decreased from 203,202,700 to 200,987,600 after the cancellation of 221.51 thousand restricted stocks[114] Governance and Compliance - The company actively fulfilled its social responsibilities, aligning economic benefits with social development[128] - The company maintains independence in business, assets, personnel, institutions, and finance from its controlling shareholder[173] - The company has established an independent financial department and operates a separate financial accounting system, ensuring no shared bank accounts with the controlling shareholder[178] - The company received a standard unqualified audit opinion from the auditing firm, indicating that the financial statements fairly reflect the company's financial position[194]