JZ GROUP(SZ:300040)2022-04-24 16:00Financial Performance - The company reported a profit distribution plan, proposing a cash dividend of 0.50 RMB per 10 shares (including tax) based on a total of 587,645,532 shares[12]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[22]. - The company's operating revenue for 2021 was ¥1,409,967,921.68, representing a 10.17% increase compared to 2020[30]. - Net profit attributable to shareholders for 2021 reached ¥182,259,476.84, a significant increase of 159.94% from the previous year[30]. - The total assets of the company at the end of 2021 were ¥8,516,532,215.61, an 18.00% increase from the end of 2020[30]. - The company reported a total of ¥127,043,161.70 in non-recurring gains for 2021, compared to ¥19,166,524.55 in 2020[37]. - The company experienced a quarterly revenue of ¥456,207,078.34 in Q4 2021, which was the highest among the four quarters[33]. - The net profit attributable to shareholders in Q4 2021 was ¥71,426,087.55, showing strong performance in the last quarter[33]. - The company achieved a revenue of CNY 1,409.97 million in 2021, an increase of 10.17% compared to the previous year[115]. - The net profit attributable to shareholders reached CNY 182.26 million, a significant increase of 159.94% year-on-year[115]. Renewable Energy Projects - The company has invested in over 1000 MW of renewable power stations, including wind, solar, and biomass, by the end of 2021[67]. - The company is focusing on biomass power generation projects, with expected annual power generation of 5.6 billion kWh for each of the three biomass projects under construction[99]. - The company has established a biomass comprehensive smart energy project with a total scale of 650 MW, including 480 MW approved projects and 80 MW already connected to the grid[116]. - The company is actively participating in the carbon emissions trading market, which has seen a cumulative transaction volume of 179 million tons and a total transaction value of 7.661 billion yuan by the end of 2021[61]. - The company aims to establish a renewable integrated smart energy supply system, focusing on efficient biomass direct combustion and "zero-carbon" clean heating technologies[68]. - The company has signed a strategic cooperation agreement for a CNY 2 billion renewable energy industry fund to invest in biomass power generation and heating projects[107]. - The company has completed two strategic acquisitions, enhancing its capabilities in renewable energy solutions, with a combined value of 500 million RMB[28]. - The company has formed a comprehensive smart energy service model, integrating various energy supplies to improve overall energy efficiency and reduce costs[96]. Market Expansion and Strategy - The future outlook includes a projected revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion strategies[25]. - Market expansion efforts include entering three new provinces, which are expected to contribute an additional 300 million RMB in revenue[27]. - The company has established partnerships with key industry players to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs[29]. - The company is focused on the synergy between its smart distribution equipment manufacturing and its EPC construction and renewable energy investment operations, driving overall business growth[82]. - The company plans to increase its workforce by 10% to support its growth initiatives and improve service delivery[29]. - The company is positioned to benefit from policies promoting the integration of renewable energy and storage systems, with a target of 30 million kW for new energy storage capacity by 2025[52]. - The company has ongoing wind power projects, including the Daqing Dagang Wind Farm, which has a total investment of RMB 17 million, with 67.03% of the project completed by January 1, 2021[164]. Research and Development - The company is investing in R&D for new technologies, with a budget allocation of 200 million RMB for the development of advanced power electronic devices[26]. - The company is focusing on the development of intelligent dry-type transformers to meet the increasing demand for smart power management in the industry[141]. - The company has established a joint laboratory with Harbin Institute of Technology to accelerate the development of lead-carbon energy storage batteries[107]. - The R&D team is focusing on developing standardized solid-insulated ring network cabinets to improve operational convenience and reduce manufacturing costs[142]. - The company aims to improve the performance and lifespan of batteries through precise identification and maintenance measures, addressing strong market demand[141]. - The number of R&D personnel decreased by 14.77% from 176 in 2020 to 150 in 2021, with the proportion of R&D personnel dropping from 16.54% to 10.98%[142]. Operational Risks and Challenges - The renewable energy subsidy payment has been delayed, impacting cash flow and investment returns due to a growing funding gap in subsidy payments[6]. - The company faces risks from potential changes in national policies that could adversely affect operational performance in the renewable energy sector[8]. - The operational risk for biomass power generation projects is highlighted, as they will no longer receive central government subsidies after reaching a utilization limit of 82,500 hours or after 15 years of operation[10]. - The company is affected by fluctuations in grid-connected electricity prices, which could lead to uncertainty in project profitability[11]. - The company is gradually reducing the scale of BT construction projects to concentrate funds on self-owned power stations, which provide stable long-term revenue[94]. Sustainability and Carbon Neutrality - The company has set a target to achieve carbon neutrality by 2025, aligning with global sustainability trends and regulations[29]. - The goals of carbon peak and carbon neutrality are driving the rapid development of renewable energy, creating incremental demand for distribution network equipment; smart distribution solutions can achieve up to 85% energy consumption reduction[47]. - The company is committed to achieving carbon neutrality at the county level, promoting sustainable energy practices and reducing carbon emissions[68]. - The company is focused on reducing the cost of electricity generation through technological advancements in solar PV components and inverters, contributing to ongoing cost reductions in the industry[58]. - The company is committed to participating in carbon emissions trading to improve profitability and cash flow, leveraging its renewable energy capacity[198]. Financial Management and Investments - The total investment during the reporting period was ¥1,053,155,247.35, reflecting a substantial increase of 113.20% compared to ¥493,981,621.73 in the previous year[150]. - The company has raised a total of RMB 308 million from the issuance of 3,080,000 convertible bonds in 2019, with a net amount of RMB 298.28 million after deducting fees[160]. - The company has confirmed that all raised funds have designated projects and related usage plans, with remaining funds stored in a special account[167]. - The company has not encountered significant changes in the feasibility of its projects or the expected benefits from the investments[164]. - The company has plans for further market expansion in the renewable energy sector, focusing on biomass and photovoltaic projects[156].