Jointo Energy Investment Co.Ltd.Hebei(000600) : financial statement report of 2021 financial statement report of 2021
Dear shareholders
Now, the company's financial statements for 2021 are as follows:
1、 Financial position at the end of 2021
As of December 31, 2021, the company's total consolidated assets were 38527872900 yuan, the total consolidated liabilities were 26389380300 yuan, and the consolidated owner's equity was 12138492600 yuan, including 9593176500 yuan of shareholder's equity attributable to the parent company and 2545316200 yuan of minority shareholder's equity. The net asset per share was 5.35 yuan, a decrease of 1.64 yuan / share compared with the beginning of the year.
The asset liability ratio at the end of the year was 68.49%, an increase of 11.80 percentage points over 56.69% at the beginning of the year. 1. Total consolidated assets
The total consolidated assets were 38527872900 yuan, an increase of 2628012100 yuan or 7.32% over the beginning of the period, including 2046270400 yuan of current assets and 581741600 yuan of non current assets. Items with significant changes include:
(1) Monetary capital increased by 16270908 million yuan, mainly due to the increase in borrowings and the issuance of corporate bonds.
(2) Notes receivable and accounts receivable decreased by 558211 million yuan, mainly due to the decrease in electricity charges receivable.
(3) Prepayment decreased by 4169949 million yuan, mainly due to the reclassification of advance engineering payment to other non current assets and the decrease of advance coal payment.
(4) Other receivables increased by 6349138 million yuan, mainly due to the reclassification of equity interest payments from other non current assets.
(5) Inventory increased by 3593124 million yuan, mainly due to the increase of coal-fired cost of operating power plants.
(6) Contract assets increased by 1170497 million yuan, mainly due to the increase of Zunhua PPP project.
(7) Other current assets increased by 2482195 million yuan, mainly due to input tax to be deducted and income tax paid in advance.
(8) Long term equity investment decreased by 8583714 million yuan, mainly due to the loss of participating companies. (9) Fixed assets decreased by 2875391 million yuan, mainly due to the impact of asset conversion and depreciation.
(10) The construction in progress increased by 1531024 million yuan, which was affected by the increase of main thermal infrastructure projects and the newly merged Shouyang project.
(11) Deferred income tax assets increased by 5269074 million yuan, mainly due to the deferred income tax expenses recognized by the power plant due to losses.
(12) Other non current assets decreased by 272113300 yuan, mainly due to the adjustment of equity interest payment to other receivables and the reclassification of advance engineering payment.
2. Total liabilities
The total consolidated liabilities were 26389380300 yuan, an increase of Hylink Digital Solution Co.Ltd(603825) 6600 yuan or 29.67% over the beginning of the period, including 16035101 million yuan decrease in current liabilities and 76417666 million yuan increase in non current liabilities. The items with large changes include:
(1) Bank borrowings increased by 301989934 million yuan, including a decrease of 17440661 million yuan in short-term borrowings and an increase of 47639595 million yuan in long-term borrowings (including those due within one year);
(2) Accounts payable increased by 3342654 million yuan, mainly due to the increase of coal accounts payable;
(3) Other payables increased by 1535853 million yuan, mainly due to the impact of the new merger of Shouyang thermal power; (4) Bonds payable increased by 250 million yuan, mainly due to the impact of newly issued corporate bonds. 3. Owner's equity
The owner's equity was 121384926 million yuan, a decrease of 3410445 million yuan or 21.93% compared with the beginning of the period, of which the owner's equity attributable to the parent company was 95931765 million yuan, a decrease of 29340155 million yuan compared with the beginning of the period, which was mainly caused by the current loss, profit distribution and the merger of qinre company and Guorong company under the same control; Minority shareholders' equity was 2545316200 yuan, a decrease of 476229000 yuan compared with the beginning of the period.
2、 Operating results in 2021
In 2021, the accumulated total profit was -3234495500 yuan, a decrease of 47964249 million yuan over the budget at the beginning of the year; A year-on-year decrease of 4824598300 yuan, a year-on-year decrease of 303.41%. The net profit attributable to the parent company was -22103001 million yuan, a decrease of 3083316100 yuan over the budget at the beginning of the year; A year-on-year decrease of 3168190200 yuan, a year-on-year decrease of 330.75%. The basic earnings per share was -1.234 yuan / share, a year-on-year decrease of 1.769 yuan / share. The weighted average return on net assets was -20.236%, down 28.065 percentage points year-on-year.
1. Operating income
In 2021, the operating revenue was 150408031 million yuan, 100.78% of the budget at the beginning of the year, a year-on-year decrease of 3295239 million yuan, a decrease of 2.14%. Of which:
(1) The power supply revenue was 11793837800 yuan, 97.71% of the budget at the beginning of the year; Compared with the same period of the previous year, it decreased by 8694192 million yuan, or 6.87%, mainly due to the impact of the reduction of power consumption compared with the budget and the same period of the previous year.
(2) The income from heat sales (not offset by internal transactions) was 17375751 million yuan, 103.48% of the budget at the beginning of the year; Compared with the same period of last year, it increased by 1362545 million yuan, an increase of 8.51%, which was affected by the increase of unit price of heat sales.
(3) The income from catering and accommodation services was 1725648 million yuan, 104.63% of the budget at the beginning of the year; Compared with the same period of the previous year, it increased by 200356 million yuan, an increase of 13.14%, mainly because the catering industry was less affected by epidemic factors this year than expected and last year.
(4) The heat supply revenue was 7483216 million yuan, 110.47% of the budget at the beginning of the year; Compared with the same period of last year, it increased by 179101200 yuan, an increase of 31.46%, which was affected by the year-on-year increase of heating area. (5) The energy management revenue was 756329 million yuan, 63.02% of the budget at the beginning of the year; A year-on-year decrease of 263056 million yuan was mainly due to the decrease in the impact of service items compared with the budget and the previous year.
2. Operating costs
The operating cost in 2021 was 15761344400 yuan, 136.56% of the budget at the beginning of the year; Compared with the same period last year, it increased by 35903924 million yuan, an increase of 29.50%. The cost analysis of each major industry is as follows:
(1) The cost of power generation industry was 146554373 million yuan, 126.81% of the budget at the beginning of the year; Compared with the same period of last year, it increased by 3119088100 yuan, an increase of 27.04%. The increase of power generation cost compared with the budget and the same period of last year is mainly due to the rise of coal price.
(2) The cost of the hotel industry was 55.021 million yuan, 96.62% of the budget at the beginning of the year; Compared with the same period of last year, it increased by 4.6535 million yuan, mainly due to the increase of income and cost year-on-year.
(3) The heat supply cost was 661988 million yuan, 115.91% of the budget at the beginning of the year, an increase of 1728368 million yuan or 35.33% over the same period of the previous year, which was affected by the increase of heating area.
3. Selling expenses
The annual sales expense in 2021 was 825016 million yuan, mainly including the expenses of international building, Xuanhua heating, Renhua heating, thermal power company and construction investment and power division, which increased by 6.673 million yuan compared with the budget at the beginning of the year and 191029 million yuan compared with the same period of the previous year, mainly due to the increase in the sales expense of international building.
4. Administrative expenses
In 2021, the management cost was 9217115 million yuan, a decrease of 1888158 million yuan compared with the budget, and 83.00% of the annual budget was completed, mainly because the company achieved remarkable results in strengthening management, saving expenses and controlling expenses; Compared with the same period of last year, it decreased by 920624 million yuan, a decrease of 9.08%, mainly due to the decrease of employee salary and repair expenses compared with the same period of last year.
5. R & D expenses
The R & D expenditure in 2021 was 252269500 yuan, an increase of 251953500 yuan over the budget and 212447900 yuan over the same period of last year, mainly due to the remarkable results of the company's implementation of national innovation policies and strengthening R & D management.
6. Financial expenses
The financial expenses in 2021 were 604355400 yuan, a decrease of 161148400 yuan compared with the budget, and 78.95% of the annual budget was completed, mainly due to the impact of the company seizing the opportunity to obtain low interest rate bank loans; The year-on-year increase was 5.5857 million yuan, with little change.
7. Investment income
In 2021, the company realized an investment income of -634769100 yuan, a decrease of 926382500 yuan compared with the budget and 861564100 yuan compared with the same period of last year, including:
(1) The investment income accounted by equity method was -719552200 yuan, a decrease of 9346173 yuan compared with the budget and 8703001 yuan compared with the same period of last year, mainly due to the impact of net profit loss of power generation enterprises.
In addition, wanku new energy project, a joint-stock company of the power selling company, was impaired. As of the end of 2021, the book net assets of wanku new energy were still negative, and the book value of the long-term equity investment of the power selling company was zero.
(2) The investment income of other non current financial assets during the holding period was 77.94 million yuan, an increase of 8.18 million yuan over the budget and a decrease of 5500 yuan over the same period of last year.
(3) The interest income from debt investment during the holding period was 5.3232 million yuan, which was little changed compared with the budget and the previous year.
(4) The disposal income of other non current financial assets is 1.52 million yuan, which is the income from the transfer of the equity of its joint-stock company aneng by Guorong company.
8. Credit impairment loss
In 2021, the company's credit impairment loss was -822175 million yuan, which was the bad debt provision normally withdrawn in accordance with the company's financial system and internal control system this year.
3、 Cash flow in 2021
The net increase in cash and cash equivalents in 2021 was 1607784300 yuan, an increase of 1694 million yuan over the same period of last year, including:
1. The net cash flow from operating activities was 148174100 yuan, a decrease of 2704 Zhejiang Huatie Emergency Equipment Science & Technology Co.Ltd(603300) yuan compared with the same period of the previous year, mainly due to the year-on-year increase in cash payment for purchasing goods.
2. The net cash flow from investment activities was -1881116600 yuan, an increase of 316089 million yuan over the same period last year, mainly due to the acquisition of Shouyang thermal power, which affected the increase in other cash received related to investment activities.
3. The net cash flow from financing activities was 3340726800 yuan, an increase of 4082514900 yuan over the same period last year, mainly due to the year-on-year increase in cash received from loans.
Please review the above report.
April 20, 2022
