Securities code: Guangdong No.2 Hydropower Engineering Company Ltd(002060) securities abbreviation: Guangdong No.2 Hydropower Engineering Company Ltd(002060) Announcement No.: Ding 2022001 Guangdong No.2 Hydropower Engineering Company Ltd(002060) 2021 annual report summary
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company's operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. Tips on non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of common shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital □ yes √ no
The company's profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 1202262058 as the base, distribute cash dividends of 0.78 yuan (including tax) to all shareholders for every 10 shares, send bonus shares of 0 share (including tax), and do not use the accumulation fund to increase the share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Guangdong No.2 Hydropower Engineering Company Ltd(002060) stock code Guangdong No.2 Hydropower Engineering Company Ltd(002060)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Lin Guangxi
Office address: West of Guangshen Avenue, Xintang Town, Zengcheng District, Guangzhou City, Guangdong Province west of Guangshen Avenue, Xintang Town, Zengcheng District, Guangzhou City, Guangdong Province
A-1 business center of Building 1 Hydropower Plaza A-1 business center of Building 1 Hydropower Plaza
Fax (020) 82607092 (020) 82607092
Tel: (020) 61776998 (020) 61776998
Email lgxi- 0731163.com. lgxi- 0731163.com.
2. Introduction to main business or products during the reporting period
The company is a state-owned holding listed company in the construction industry, a national high-tech enterprise and Guangdong water conservancy and hydropower engineering technology research center integrating the whole process of design, construction, operation and management. The company is mainly engaged in water conservancy, hydropower, rail transit and other engineering construction, water conservancy, wind power, Cecep Solar Energy Co.Ltd(000591) photovoltaic clean energy power generation, and wind power tower and photovoltaic support equipment manufacturing.
(I) industry situation
In 2021, facing the severe test brought by covid-19 pneumonia epidemic and the uncertainty of the world economy, China scientifically coordinated epidemic prevention and control and economic and social development, and the economy generally maintained a recovery trend. The construction industry continues to play an important role in the national economy; The State adopts a more active fiscal policy and a more flexible monetary policy to hedge against the negative impact of the epidemic.
In order to ensure that the economy operates within a reasonable range, infrastructure investment remains the key focus of the government's "stable growth" policy, and the downstream demand of the construction industry will maintain stable development in the medium and long term. According to the data released by the National Bureau of statistics, the total output value of the national construction industry in 2021 was 293079 billion yuan, a year-on-year increase of 11%, and the year-on-year growth rate of fixed asset investment from January to December 2021 was 4.9%.
The National Energy Administration released the statistical data of the national power industry in 2021. By the end of December 2021, the installed capacity of power generation in China was about 2.38 billion kw, a year-on-year increase of 7.9%. Among them, the installed capacity of wind power was about 330 million KW, a year-on-year increase of 16.6% The installed capacity of Cecep Solar Energy Co.Ltd(000591) power generation was about 310 million KW, with a year-on-year increase of 20.9%. In recent years, China's clean energy power generation has developed continuously and rapidly, the technical level has been continuously improved, the cost has been significantly reduced, and the development and construction quality and consumption and utilization have been significantly improved. With the proposal of the national major strategic goal of "carbon peaking and carbon neutralization", the clean energy power generation industry has ushered in another round of development peak, and the prospect is very broad. At the same time, the rapid emergence of new energy technologies and equipment brought by energy technology innovation has brought development and opportunities to the energy equipment manufacturing industry. The company will continue to strengthen, optimize and expand the main business of project construction, vigorously develop clean energy investment business and actively expand equipment manufacturing business, so as to create better business performance.
1. Project construction
(1) Water conservancy and hydropower project construction: the national development plan clearly proposes to strengthen water treatment, water resource allocation and pumped storage construction. The average annual growth rate of water conservancy investment will maintain a high level, and the market prospect of water conservancy project construction is broad.
According to the 14th five year plan for national economic and social development of the people's Republic of China and the outline of vision and objectives of 2035, the state has made it clear that during the 14th Five Year Plan period, the governance and protection of river water systems across administrative regions and the construction of backbone projects should be strengthened; Improve the coordination and matching of large, medium, small and micro water conservancy facilities, and improve the optimal allocation of water resources and the ability to prevent floods and droughts; Improve the water resources allocation system and build the backbone projects of water resources allocation; Strengthen the construction of key water sources and urban emergency standby water sources, implement flood control improvement projects, and solve the weak links of flood control.
On July 13, 2020, the executive meeting of the State Council studied and deployed the construction arrangements of 150 major water conservancy projects from 2020 to 2022, with a total investment of about 1.29 trillion yuan and an indirect investment of about 6.6 trillion yuan. After the implementation of the project, it is expected to add 9 billion cubic meters of flood control storage capacity, 2950 kilometers of river regulation length, 28 million mu of new irrigation area and 42 billion cubic meters of annual water supply capacity. At the same time, it is required to speed up construction and promote the expansion of effective investment.
In August 2021, the National Energy Administration issued the medium and long term development plan for pumped storage (20212035). By 2025, the total scale of pumped storage will be more than 62 million KW; By 2030, the total scale of production will be about 120 million KW; By 2035, a modern pumped storage industry with advanced technology, high-quality management and strong international competitiveness will be formed to meet the high proportion and large-scale development needs of new energy, and a number of large backbone enterprises of pumped storage will be cultivated.
According to the 14th five year plan for water conservancy development in Guangdong Province, there are 95 water conservancy construction projects in Guangdong Province, with a total investment of 820.1 billion yuan and 405 billion yuan.
(2) Construction of Rail Transit Project: the construction of rail transit in large and medium-sized cities across the country will still be carried out on a large scale. The integrated construction of urban agglomeration and metropolitan area will further increase the demand for urban rail transit infrastructure in the future, and the market prospect of rail transit project construction is broad.
According to the outline of the 14th five year plan for national economic and social development of the people's Republic of China and the long-term objectives for 2035 and the outline for building a transportation power, China will further accelerate the construction of intercity railways and municipal (suburban) railways, build an expressway loop system and promote the development of urban rail transit in an orderly manner. By the end of the 14th five year plan, the rail transit network of Beijing, Tianjin and Hebei, Guangdong, Hong Kong, Macao and the Yangtze River Delta will be basically completed. It is estimated that in the next five years, the subway will add 3000 kilometers of operating mileage.
According to the development plan of modern comprehensive transportation system in the 14th five year plan issued by the State Council, "By 2025, the integrated development of comprehensive transportation will be basically realized, substantial breakthroughs will be made in intellectualization and greening, the comprehensive capacity, service quality, operation efficiency and overall benefits will be significantly improved, and the development of transportation will move forward to the world-class level. When deploying the work in 2021, the work report of Guangdong provincial government clearly proposed to speed up the construction of" Dawan district on track ".
According to the "14th five year plan" for the development of comprehensive transportation system in Guangdong Province, by 2025, the operating mileage of urban rail transit will reach 1700 kilometers. During the "14th five year plan" period, the province has arranged a total investment of about 2002 billion yuan in major construction projects of transportation infrastructure, including 880 billion yuan of rail transit. According to the "14th five year plan" of Guangzhou transportation, during the "14th five year plan" period, Guangzhou plans to invest 188.9 billion yuan in rail transit. By the end of the "14th five year plan", the traffic mileage of urban rail (Subway + rail electric vehicle) will exceed 900 kilometers, of which the traffic mileage of subway will strive to reach more than 860 kilometers.
2. Clean energy power generation and equipment manufacturing
Developing clean energy has become a major strategy of China, and now it has risen to the height of ecological and environmental protection. "Carbon peaking and carbon neutralization" drive energy transformation, and the development of low-carbon power has become an important part of future energy development. Clean energy power generation can be expected in the future.
At the national energy work conference in 2022, the National Energy Administration released seven key tasks for energy work in 2022, clearly proposing the need to accelerate the implementation of renewable energy substitution actions, promote the development and consumption of wind power photovoltaic in the East, central and southern regions, actively promote the cluster development of offshore wind power and the development of wind power photovoltaic bases in the "Three North" regions, and pay close attention to the construction of wind power photovoltaic bases in deserts, Gobi and deserts, Launch and implement the "wind control action in thousands of villages and townships" and "Sunshine Action for thousands of families".
According to the 14th five year plan for national economic and social development of the people's Republic of China and the outline of long-term objectives for 2035, accelerate the development of non fossil energy, adhere to the simultaneous development of centralized and distributed energy, vigorously improve the scale of wind power and photovoltaic power generation, accelerate the development of distributed energy in the East and central part, orderly develop offshore wind power, and build a number of clean energy bases with complementary multi energy, The proportion of non fossil energy in total energy consumption has increased to about 20%. Improve the capacity of clean energy consumption and storage, and improve the capacity of transmission and distribution to remote areas.
According to the research on China's power development plan for the 14th five year plan of the global energy Internet development cooperation organization, the installed capacity of conventional hydropower will reach 392 million KW by 2025, an increase of 56 million KW over 2020; The installed capacity of wind power in China reached more than 540 million KW, an increase of 260 million KW over 2020 The installed capacity of Cecep Solar Energy Co.Ltd(000591) power generation reached more than 560 million KW, an increase of 320 million KW over 2020.
Guangdong's 14th five year plan and suggestions on long-term objectives for 2035 put forward: "We should actively promote green and low-carbon development, promote the energy revolution, actively develop clean energy such as wind power, nuclear power and hydrogen energy, and build a modern energy system that is clean, low-carbon, safe, efficient and intelligent innovation. We should actively expand effective investment and promote major projects such as 10 million kilowatt offshore wind power bases and nuclear power bases. We should guide enterprises in equipment upgrading and technological transformation, and expand effective investment in strategic emerging industries."
According to the offshore wind power development plan of Guangdong Province (20172030) (Revised) and onshore wind power development plan of Guangdong Province (20162030), by the end of 2030, the installed capacity of onshore wind power in Guangdong Province will be about 10 million KW; Through the development and construction of onshore wind power, drive the development of wind power equipment manufacturing industry and other related industries in Guangdong Province; The installed capacity of offshore wind power put into operation is about 30 million KW, forming an offshore wind power industry system with coordinated development of complete machine manufacturing, key parts production, offshore construction and related service industries. (II) market competition pattern and market position of the company
1. Engineering Construction: with the continuous development of China's economy and society, the construction market is becoming more and more standardized and demanding. However, due to the low entry threshold of the industry, fierce market competition and higher management requirements, the management cost is rising, the overall gross profit level is low, and the difficulty of market development is further increased. The leading business of the company's engineering construction is the construction of water conservancy, hydropower and rail transit projects. In the construction of water conservancy and hydropower projects, the company has rich construction experience, mature professional technology and special qualification for general contracting of water conservancy and hydropower projects. It has undertaken the construction of Guangdong Feilaixia Water Conservancy and hydropower project, Guangdong Hanjiang Gaopi water conservancy project, Beijiang waterway expansion and upgrading project, Sichuan tongjiyan canal, Shawan Hydropower Station, Pearl River Delta water resources allocation project, Guangdong water resources allocation project test section around Beibu Gulf Large and medium-sized water conservancy and hydropower projects such as Han jirao. The company has the construction qualification, advanced technology and rich experience of the upper and lower reservoir civil engineering and reservoir bank protection of the pumped storage power station. It has successively participated in the construction of Guangdong Huizhou Pumped Storage Power Station, Shenzhen Pumped Storage Power Station, Qingyuan Pumped Storage Power Station, Yangjiang Pumped Storage Power Station, Zhaoqing pumped storage power station and Hainan Qiongzhong pumped storage power station. It has high brand influence throughout the country, especially in Guangdong, Sichuan, Hunan and other regions, and is a leading enterprise in the construction of regional water conservancy and hydropower projects; In terms of rail transit business, the company has a number of key shield construction technologies such as shield departure, tunneling, warehouse opening and knife changing, arrival and reception, proximity to existing operating tunnels, dense buildings (structures), crossing bad geology, rivers, lakes and seas, creating the best achievements in controlling land subsidence in similar projects in China. As the first batch of construction units to participate in the construction of Guangzhou Metro and Pearl River Delta rail transit, it has experienced the development and changes of Guangzhou and Pearl River Delta rail transit construction industry, and also participated in the subway construction in Nanchang, Wuhan, Wuxi, Ningbo and other places. The company has 18 shield machines, with advanced rail transit construction technology, rich experience, excellent project quality, R & D advantages of rail transit construction technology and strong market competitiveness.
2. Clean energy power generation and equipment manufacturing: the clean energy power generation industry has broad development prospects in the future, but it is greatly affected by policies. Most market participants are central enterprises and local state-owned enterprises. The strength of enterprises plays a decisive role in its clean energy power generation business. The company has excellent market development ability and rich experience in clean energy development, construction, operation and wind power tower manufacturing. The project construction quality is excellent, the speed is fast, the operation management is scientific, the cost is effectively controlled, and the project income is good. The company's clean energy power generation business is mainly distributed in northwest regions such as Xinjiang and Gansu and southeast coastal regions such as Guangdong and Shandong. By the end of 2021, the company has put into operation 154238mw of clean energy projects, including 263mw of hydropower, 673mw of wind power and 606.38mw of photovoltaic power. The company is the largest wind power tower manufacturer in Guangdong Province and the first echelon enterprise in China's wind power equipment manufacturing industry, with continuous economic benefits. 3. Whether the company's financial indicators and main accounting data in recent three years need to be traced
