NEW POWER(300152)2021-04-19 16:00Financial Performance - The company's operating revenue for 2019 was ¥513,408,320.75, a decrease of 2.47% compared to ¥526,434,765.68 in 2018[15] - The net profit attributable to shareholders was ¥7,035,498.48, marking a significant recovery from a loss of ¥516,565,468.21 in the previous year, representing a 101.36% increase[15] - The net cash flow from operating activities improved to ¥35,328,731.43, a 204.01% increase from a negative cash flow of ¥33,965,553.83 in 2018[15] - The total assets at the end of 2019 were ¥1,749,033,489.53, down 13.47% from ¥2,021,217,521.65 in 2018[15] - The net assets attributable to shareholders increased by 1.62% to ¥671,973,273.42 from ¥661,248,774.94 in 2018[15] - The basic earnings per share for 2019 were ¥0.0099, a recovery from a loss of ¥0.7247 per share in 2018, reflecting a 101.36% improvement[15] - The weighted average return on net assets was 1.06%, a significant recovery from -55.92% in the previous year[15] - The total operating revenue for the company in 2019 was CNY 513,408,320.75, a decrease of 2.47% compared to the previous year[49] - Operating costs amounted to CNY 376,879,113.68, which is a reduction of 17.11% year-on-year[52] - The net profit attributable to the parent company was CNY 1,012,660, an increase of 102.13% compared to the previous year[49] Cash Flow and Investments - The net cash flow from operating activities increased by 204.01% to ¥35,328,731.43 in 2019, compared to a negative cash flow of ¥33,965,553.83 in 2018[65] - The total cash inflow from operating activities decreased by 10.82% to ¥576,388,659.51 in 2019, while cash outflow decreased by 20.47% to ¥541,059,928.08[65] - The net cash flow from investment activities decreased by 81.73% to ¥29,728,804.11 in 2019, primarily due to the previous year's recovery of equity funds from several companies[66] - The company reported a significant increase in investment income of ¥96,649,150.17, accounting for 640.65% of total profit, primarily from the disposal of certain environmental assets[66] Business Operations and Strategy - The company aims to enhance its market position by focusing on environmental governance and expanding its core business areas, including waste incineration and sewage treatment[26] - The company acquired a 49% stake in Hebei Xiong'an Lizi Environmental Technology Co., which is expected to generate nearly ¥50 million in annual revenue once fully operational[27] - A hydrogen energy project is under development with a total planned investment of approximately ¥500 million, aimed at reducing reliance on traditional energy sources[28] - The company’s main business includes energy-saving combustion, sewage treatment, and waste incineration power generation, utilizing various advanced technologies[29] - The company operates under EP, EPC, and BOT business models, ensuring comprehensive management of engineering projects and long-term operational rights for waste incineration projects[31] - The company completed approximately 120,000 tons of household waste input and generated about 30 million kWh of electricity in the garbage incineration power generation sector[43] - The company secured 57 new orders in the sewage treatment sector, with a total contract amount of approximately 260 million yuan[43] - The company achieved a total contract amount of approximately 290 million yuan from 586 new orders in the energy-saving combustion sector[43] - The company plans to enhance core competitiveness across various business areas to create an ecological industrial chain[44] Research and Development - The company has been recognized as a national high-tech enterprise and has received 10 patent authorizations in the reporting period, totaling 89 effective patents[38] - The company's R&D investment in 2019 amounted to ¥16,249,423.91, representing 3.17% of total revenue, a decrease from 6.01% in 2018[64] - The company completed the development of several models of fully automatic low-nitrogen integrated burners, including a 3.3MW model that has obtained type testing certification[62] - The company has invested in research and development for new technologies in the fields of bioenergy and environmental protection, aiming to strengthen its market position[81] Governance and Compliance - The company has established an independent financial department and accounting system to ensure financial decision-making autonomy[101] - The company has a governance structure in place to maintain independence from its controlling entities[101] - The company has committed to maintaining a transparent relationship with shareholders, ensuring that any related party transactions are conducted fairly and in compliance with regulations[102] - The company has established a comprehensive management system to ensure independent operations and avoid conflicts of interest with controlling shareholders[102] - The company has implemented measures to ensure the accuracy of financial disclosures and compliance with regulatory requirements[78] - The company received an administrative penalty from the China Securities Regulatory Commission for false information in its annual report and was ordered to rectify within 60 working days[121] - The company completed the required rectification work on time as per the regulatory requirements[122] Shareholder Relations - The company plans to distribute cash dividends of no less than 10% of the current year's distributable profit, ensuring shareholder returns[103] - The total cash dividend for 2019 was 0.00, with a net profit attributable to shareholders of listed companies amounting to 10,126,586.6, resulting in a cash dividend ratio of 0.00%[100] - The company emphasized the importance of investor returns, stating that the decision not to distribute profits aligns with relevant laws and regulations[98] - The company aims to provide stable and long-term returns to investors through its strategic decisions[98] - The company has a commitment to avoid any direct or indirect competition with its controlling shareholders and their affiliates, ensuring independent business operations[102] Legal and Regulatory Issues - The company faced a lawsuit involving a payment dispute amounting to 7,356.35 million yuan, which has been settled but remains unexecuted[119] - Another lawsuit related to a construction dispute with an amount of 7,316.4 million yuan is currently under trial[119] - The company’s major shareholders and actual controllers have received administrative penalties and market bans due to violations[122] Employee and Management Structure - The total number of employees in the company is 641, with 326 in the parent company and 315 in major subsidiaries[172] - The company has a diverse professional composition, including 195 production personnel, 53 sales personnel, 136 technical personnel, 32 financial personnel, and 225 administrative personnel[172] - The company conducted a total of 2833 training hours in 2019, covering management training, skills training, onboarding, and qualification training[174] - The total pre-tax remuneration for the chairman is 58.29万元, while the general manager and financial director received 45.62万元[171] - The company has established a market-oriented salary system that links performance assessment closely with individual compensation[173] Market and Industry Outlook - The environmental protection industry in China is expected to account for approximately 3% of the national GDP by 2020, indicating significant growth potential[86] - The company's garbage incineration power generation business is projected to maintain over 20% growth in the coming years, driven by national policies promoting waste incineration[87] - The market demand for clean fuel and clean combustion technology remains strong, particularly in the industrial boiler sector, which is a key customer base for the company[86]