深南电B(200037) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥985,253,831.58, a decrease of 19.41% compared to ¥1,222,577,954.53 in 2019[18]. - The net profit attributable to shareholders in 2020 was ¥64,024,291.32, representing a significant increase of 157.12% from ¥24,900,956.73 in 2019[18]. - The net cash flow from operating activities increased by 28.47% to ¥260,725,409.02 in 2020, compared to ¥202,943,908.61 in 2019[18]. - Basic earnings per share rose to ¥0.1062 in 2020, up 157.14% from ¥0.0413 in 2019[18]. - The company reported a decrease of 48.24% in net profit after deducting non-recurring gains and losses, amounting to ¥7,601,038.59 in 2020[18]. - The weighted average return on net assets was 3.15% in 2020, an increase from 1.25% in 2019[18]. - The company reported a net profit attributable to shareholders of 64.02 million yuan for 2020, with a profit distribution plan not proposed due to ongoing operational pressures[100]. - The company did not distribute cash dividends in 2020 due to the inability to meet profit distribution conditions outlined in its articles of association[101]. Assets and Liabilities - Total assets at the end of 2020 were ¥3,020,830,930.06, a decrease of 6.16% from ¥3,219,261,720.55 at the end of 2019[18]. - The net assets attributable to shareholders increased by 2.59% to ¥2,054,741,847.64 at the end of 2020, compared to ¥2,002,772,808.24 at the end of 2019[18]. - The company's fixed assets decreased by 33.00% due to the sale of a 70% stake in Dongguan Company, which is no longer included in the consolidation scope[30]. - The company's receivables decreased by 52.12%, reflecting the impact of the divestiture of Dongguan Company[30]. - The total assets at the end of 2020 included cash and cash equivalents of ¥764,601,272.21, accounting for 25.31% of total assets[66]. - The company’s short-term borrowings decreased by 5.01% to ¥675,528,858.48[66]. Revenue Sources - The company’s energy sector contributed CNY 878.60 million, accounting for 89.18% of total revenue, down 18.80% year-on-year[46]. - The company achieved a total electricity generation of 2.127 billion kWh, with 874 million kWh from grid-connected power and 1.253 billion kWh from power marketing[28]. - The total sales amount from the top five customers reached ¥965,521,314.34, accounting for 97.99% of the annual sales total[56]. - The largest customer, Shenzhen Power Supply Bureau, contributed ¥466,123,345.95, representing 47.31% of the annual sales[56]. - The company’s engineering services revenue decreased by 34.39% to CNY 41.09 million, representing 4.17% of total revenue[46]. Operational Efficiency - The company maintained a stable core competitiveness despite challenges in the power generation sector, supported by a robust governance structure and risk control system[32]. - The average annual utilization hours of the power generation units were 986 hours, with an average plant electricity consumption rate of 3.43%[38]. - The average utilization hours of power plants increased to 986 hours, compared to 876 hours in the previous year[46]. - The gross profit margin for electricity sales was 17.52%, with a decrease in operating costs by 25.26% to CNY 724.65 million[48]. Strategic Initiatives - The company plans to achieve a total electricity consumption of 720.6 billion kWh in Guangdong Province, with a growth rate of 5.0% for 2021[84]. - The company aims to implement a "125" project strategy focusing on strategic development and market expansion[85]. - The company plans to maximize economic efficiency by optimizing power production and marketing operations[86]. - The company is committed to aligning land resource management with favorable planning policies in the Qianhai area[86]. - The company plans to enhance management efficiency and talent quality through human resource reforms and the cultivation of young professionals[87]. Environmental and Social Responsibility - The company strictly adhered to environmental regulations, achieving compliance with pollution discharge standards, with nitrogen oxide emissions at 82.46 tons against a limit of 457.5 tons[137]. - The company adopted a social responsibility approach during the COVID-19 pandemic, focusing on production and operational stability while fulfilling its social duties[131]. - The company invested a total of 151,640 yuan in poverty alleviation efforts, including the adoption of 10 acres of land and 2,400 kg of rice in a poverty-stricken area[133]. Governance and Management - The company has established a comprehensive governance structure to protect the rights of shareholders and ensure compliance with regulations[198]. - The board of directors held 2 regular meetings and 6 temporary meetings during the reporting period to ensure effective decision-making[199]. - The supervisory board conducted 2 regular meetings and 4 temporary meetings to oversee the company's operations and financial status[200]. - The company has a diverse management team with backgrounds in finance and energy sectors, including the chairman who has extensive experience in accounting and management[171]. Market Challenges - The company expects to face challenges due to the commissioning of new high-efficiency gas turbine units in the province, which may reduce its market share[84]. - The company is facing increased competition in the electricity market, which may lead to a decline in market share and reduced electricity generation in 2021[100]. - The company anticipates a significant increase in natural gas prices in 2021, which will impact fuel costs for electricity generation[84]. Shareholder Information - The total number of shares is 602,762,596, with 99.9977% being unrestricted shares[154]. - The number of shareholders increased from 33,402 to 34,457 during the reporting period[156]. - The largest shareholder, Hong Kong Nanhai Ocean Industry Co., Ltd., holds 15.28% of the shares, totaling 92,123,248[157]. - The company does not have a controlling shareholder, as no entity holds more than 50% of the shares[159].