Guanghui Energy Co.Ltd(600256) ( Guanghui Energy Co.Ltd(600256) . SH), a listed company mainly engaged in oil, natural gas and coal, released the financial reports for 2021 and the first quarter of 2022 on the 14th: the company continued the momentum of performance growth in 2021, and the performance in the first quarter of 2022 exceeded expectations. On this basis, the company expects to implement the largest dividend in history to give back to the majority of investors.
growth exceeded expectations and high dividends returned to investors
The report shows that in 2021, the company achieved a revenue of 24.865 billion yuan, a year-on-year increase of 64.30%; The net profit was 5.003 billion yuan, a year-on-year increase of 274.40%; In the first quarter of 2022, the company continued the momentum of performance growth and achieved an operating revenue of 9.398 billion yuan, a year-on-year increase of 70.10%; The net profit attributable to shareholders of listed companies was 2.213 billion yuan, a year-on-year increase of 175.67%. Among them, the net profit was RMB 2.06 billion higher than the upper limit of the performance forecast in the first quarter, exceeding 153 million and 7.43% higher than the expected upper limit. In addition, the company achieved a net profit of 928 million in March, a new high in the performance of the company in a single month since its listing; As of the end of the reporting period, the net cash flow from operating activities was 1.983 billion yuan, a year-on-year increase of 29.24%.
As for the reasons for the high growth of the company's performance, Guanghui Energy Co.Ltd(600256) said that under the continuous spread of covid-19 epidemic in the world, the resonant recovery of economy and the intensification of the contradiction between supply and demand in the market, the price of international bulk commodities has risen rapidly; China's economy rebounded well. Driven by the mismatch between supply and demand, cost support and the regulation of policies related to "dual control and dual carbon" of energy consumption, the gap between supply and demand of China's energy consumption products continued to increase, and the prices of natural gas, coal, methanol and other products reached a phased record high in China. In this context, the company adheres to the guidance of business performance, firmly grasp the market opportunities, maintain the safe and stable operation of production devices, and the sales volume and price rise of main business products resonate, creating the best performance in the history of the company since its listing in 2000.
On the basis of beautiful performance, the most sincere dividend action in the history of Guanghui Energy Co.Ltd(600256) plan implementation will be returned to the majority of investors: the company plans to distribute cash dividends of 4 yuan (tax included) for every 10 shares to all shareholders based on the total share capital of 6565755139 shares on December 31, 2021, with a total cash bonus of 262630205560 yuan (tax included). In 2021, no shares will be given, no capital reserve will be converted into share capital, and the remaining undistributed profits will be carried forward to the next year. The total amount of cash dividends implemented by the company from 2019 to 2021 was 332674847533 yuan, accounting for 125.76% of the average annual net profit attributable to shareholders of Listed Companies in recent three years.
natural gas and coal business continued to boom
Guanghui Energy Co.Ltd(600256) is the only private enterprise in China with coal, oil and gas resources at the same time. In recent years, the company's business has gradually focused on the natural gas sector, with natural gas sales accounting for more than 50% for six consecutive years, and has become the largest LNG supplier in China. With the expansion of Qidong LNG terminal, the LNG turnover capacity of Qidong terminal will increase from 3 million tons per year in 2020 to 5 million tons in 2022, and is expected to increase to 10 million tons in 2025.
In the first quarter of 2022, the company overcame difficulties such as plant equipment maintenance in terms of self-produced gas, explored potential and increased efficiency through multiple channels, and the self-produced LNG output of the company's new energy company was 1929905 million m3 (a total of 137800 tons), a year-on-year increase of 2.49%. In terms of trade gas, Qidong LNG terminal project has continued to innovate and effectively implemented the "2 + 3" operation mode - two gas transmission channels (liquid inlet and liquid outlet, liquid inlet and liquid outlet), three profit modes (domestic trade, unloading service and international trade), the expansion project has been steadily promoted, and the diversified layout has continued to be large-scale. In the first quarter, 9 LNG ships were unloaded and traded, with a total sales volume of 962 Forest Packaging Group Co.Ltd(605500) m3 (687600 tons), a year-on-year increase of 16.74%. With the LNG gasification and supporting sea water intake and drainage projects and Qitong natural gas pipeline projects put into operation for fixed assets conversion, during the reporting period, the sales of pipeline gas was 3438257 million m3 (a total of 230300 tons), a year-on-year increase of 38.89%.
In terms of coal, the mining companies affiliated to the company pay close attention to the consolidation trend of high market prices to effectively ensure domestic demand and external supply; At the same time, make full use of the logistics advantages of its own railway, constantly expand the sales radius and widely explore strategic customers. In the first quarter of 2022, the baishihu open pit mine owned by the company obtained the new guaranteed supply capacity of the national development and Reform Commission, realizing the output of raw coal of 3.8306 million tons, a year-on-year increase of 127.19%; The total coal sales volume was 5.8734 million tons, with a year-on-year increase of 29.69%.
"green revolution" strategic transformation curtain has opened
The report shows that relying on its own enterprise characteristics and combined with the regional advantages of Xinjiang, the company has officially established a wholly-owned subsidiary Guanghui carbon technology company to plan and build a 3 million T / a carbon dioxide capture, pipeline transportation and oil displacement integration project in haminao Maohu area in stages. Including: 100000 t / a carbon dioxide capture and utilization demonstration project in the first phase. The project has completed the preparation of the feasibility study report, obtained the registration certificate of enterprise investment projects in Yiwu County, completed the filing of the environmental impact registration form of construction projects, and signed the carbon dioxide product cooperation framework agreement with oil field units with carbon dioxide displacement demand in Xinjiang.
According to the company's announcement on March 14, the first phase of the project has been started, which indicates that the Guanghui Energy Co.Ltd(600256) ccus project has entered a substantive stage.
According to relevant data, CCUs means "carbon capture, utilization and storage", which refers to the process of separating CO2 from industrial process, energy utilization or atmosphere, directly utilizing it or injecting it into the stratum to realize permanent CO2 emission reduction. This technology is not only suitable for conventional reservoirs, but also for low permeability and ultra-low permeability reservoirs, which can significantly improve crude oil recovery. Carbon dioxide flooding can generally improve crude oil recovery by 7% - 15% and prolong the production life of oil wells by 15-20 years.
In addition, on January 25, 2022, the company also released the strategic planning outline for the development of hydrogen energy industry chain (20222030), which defined the long-term layout of entering the hydrogen energy track. Through the implementation of the comprehensive utilization project of hydrogen energy industrial chain, according to the calculation of the annual average carbon trading price of Beijing Green Exchange in 2021 of 44.89 yuan / T, it is expected that by the end of 2030, only carbon trading will increase the income of the company by about 800 million yuan.
Guanghui's hydrogen energy industry chain planning will give full play to the characteristics that hydrogen energy has the dual attributes of energy and energy storage at the same time. Combined with the carbon reduction needs of energy consuming enterprises in naomao Lake area of Yiwu County, based on the existing chemical hydrogen production (gray hydrogen), Guanghui will take the new energy (wind room photovoltaic) power generation - electrolytic water hydrogen production (green hydrogen) as a breakthrough, cultivate and drive the rapid development of hydrogen production, hydrogen transmission, hydrogen storage, hydrogen consumption and related businesses. The application end gradually realizes three substitutions in Naomaohu area: replacing the operation heavy truck in Naomaohu area with hydrogen energy heavy truck to realize the substitution of transportation energy; Replace the production power of enterprises in the industrial park with green power to realize the replacement of green power; Hydrogen is used to replace Maonao Lake chemical project.
