Shen Nan Dian(SZ:200037)2023-04-06 16:00Financial Performance - The company's operating revenue for 2022 was ¥694,227,657.28, a decrease of 8.31% compared to ¥757,175,743.41 in 2021[22]. - The net profit attributable to shareholders was -¥160,163,240.67, showing an improvement of 63.55% from -¥439,448,712.13 in the previous year[22]. - The net cash flow from operating activities was ¥207,168,402.26, a significant increase of 627.71% compared to -¥39,258,302.07 in 2021[22]. - The basic and diluted earnings per share were both -¥0.2657, reflecting a 63.56% improvement from -¥0.7291 in 2021[22]. - Total assets at the end of 2022 were ¥2,606,216,345.99, a decrease of 6.59% from ¥2,790,002,824.41 at the end of 2021[22]. - The net assets attributable to shareholders decreased by 9.92% to ¥1,455,129,894.84 from ¥1,615,293,135.51 in 2021[22]. - The company reported a significant reduction in net losses, indicating improved operational efficiency[22]. - The report indicates uncertainty regarding the company's ability to continue as a going concern due to negative net profits in recent years[22]. Revenue and Sales - In 2022, the company's total operating revenue was 694,227,757.28 CNY, with a significant increase in the second quarter to 154,152,937.21 CNY, but a decline in the fourth quarter to 168,180,448.44 CNY[26]. - The total electricity sales volume was 858 million kWh, down 25% from 1.144 billion kWh in 2021[52]. - The company achieved operating revenue of CNY 694.23 million, a decrease of 8.31% compared to CNY 757.18 million in 2021[47][48]. - In 2022, the company's electricity sales amounted to ¥779,733,245.77, accounting for 96.90% of operating costs, a decrease of 4.48% compared to 2021[56]. Costs and Expenses - The natural gas cost represented 82.17% of the company's operating costs in 2022, up from 77.37% in 2021[56]. - Research and development expenses increased by 22.52% to ¥25,647,534.39 in 2022, primarily due to increased R&D costs at Shenzhen Nanshan Electric Engineering Co., Ltd.[59]. - Sales expenses decreased by 59.61% to ¥375,055.78, attributed to reduced demand for environmental business due to adjustments in municipal sludge treatment routes[59]. - Management expenses decreased by 23.42% to ¥79,099,350.54, mainly due to reductions in labor costs and intermediary fees[59]. - Financial expenses increased by 111.29% to ¥32,142,802.50, primarily due to an increase in average financing scale[59]. Operational Efficiency - The cash flow from operating activities showed a positive net amount of 234,637,536.91 CNY in the second quarter, contrasting with negative cash flows in other quarters[26]. - The company completed a total of 858 million kWh of on-grid electricity, down 25% year-on-year[37]. - The average electricity usage rate of the power plants increased to 3.50% from 3.25% in the previous year[37]. - The company is actively exploring new energy sectors, including energy storage and photovoltaic projects, leveraging its experience in traditional power generation[41]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the year[4]. - The company aims to enhance its core competitiveness through management innovation and a focus on high-quality development[38]. - The company is committed to strategic transformation, focusing on the new energy and energy storage sectors, and plans to advance key projects such as independent energy storage stations and smart photovoltaic projects[86]. - The company is actively seeking to optimize existing assets and reduce losses, including efforts to improve receivables collection and explore new business areas[85]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholders' rights[95]. - The board of directors held 2 regular meetings and 7 temporary meetings to review significant matters, enhancing decision-making processes[96]. - The company has implemented strict insider information management practices, with no incidents of information leakage reported during the reporting period[98]. - The company operates independently from its major shareholders in terms of personnel, assets, finance, business, and organization[99]. Environmental Compliance - The company operates in the thermal power generation industry and complies with the air pollutant emission standards[144]. - The company’s subsidiary has obtained the necessary pollution discharge permits from relevant environmental authorities[144]. - During the reporting period, the company and its subsidiaries complied with national environmental laws, with all pollutant emissions meeting national standards, and no environmental pollution incidents occurred[146]. - The company has invested in environmental protection facilities and continuously improved pollution prevention measures, enhancing its pollution control capabilities[148]. Future Outlook - In 2023, the company anticipates a peak load of 155 million kilowatts in Guangdong province, an increase of 8.8% year-on-year, with social electricity consumption expected to reach 825 billion kilowatt-hours, up 5.2%[81]. - The company is facing challenges due to high natural gas prices and intense competition in the electricity marketing market, which may lead to continued losses in gas-fired power generation[82]. - The company plans to enhance its operational management of existing assets to improve profitability and overall operational efficiency[89]. - The company is focusing on the renewable energy industry chain and exploring diversified business models to transition from traditional power generation to comprehensive energy service providers[89].