Chongqing Three Gorges Water Conservancy And Electric Power Co.Ltd(600116) april 27 announced the 2021 annual report and the first quarterly report of 2022 at the same time. Last year, the company achieved an operating revenue of 10.177 billion yuan, a year-on-year increase of 93.62%; The net profit attributable to the parent company was 865 million yuan, a year-on-year increase of 39.52%; The net profit after deducting non profit was 741 million yuan, an increase of 69.90%, and the earnings per share was 0.45 yuan. The company’s profit distribution plan for the 21st year is to pay out 1.5 yuan (including tax) for every 10 shares.
From January to March this year, the company achieved an operating revenue of 2.302 billion yuan, a year-on-year increase of 12.03%; The net profit attributable to the parent company was 9.8591 million yuan, a significant decrease of 93.81% year-on-year; The net profit after deducting non-profit was 134 million yuan, a decrease of 8.17%. The company explained that during the reporting period, its self generated water and electricity increased by 24.33% year-on-year, and the net profit of power business increased year-on-year; The sharp decline in net profit is mainly due to the sharp decline in fixed value added shares held, resulting in the loss of changes in fair value; In addition, the year-on-year decrease in the sales of electrolytic manganese and the planned shutdown of Guizhou manganese plant led to the year-on-year decrease in the profits of manganese ore mining and electrolytic manganese production, processing and sales.
It is understood that in 2021, the company’s electricity sales and profitability reached a record high, made new breakthroughs in business development such as market-oriented electricity sales and comprehensive energy, fully completed various tasks and objectives determined by the general meeting of shareholders, and achieved a good start in the 14th five year plan. On the one hand, ensure the safe, stable and orderly power supply in all supply areas, actively expand power users and markets, and continuously improve user service level and power quality. The annual sales of electricity reached 13.218 billion kwh, a year-on-year increase of 17%; On the other hand, efforts have been made to build and develop new tracks and promote the expansion of new businesses such as comprehensive energy. Local business platforms have been jointly established in Liangjiang in Chongqing, Jiujiang in Jiangxi, Qingdao in Shandong and Urumqi in Xinjiang, so as to orderly promote the layout of comprehensive energy business across the country.
In terms of sectors, the company realized a profit of 512 million yuan in power business last year, accounting for 39.71%; The profit of manganese industry and trade business was 344 million yuan, accounting for 26.68%; The rise in the price of fixed value-added shares realized a gain of 259 million yuan from changes in fair value, accounting for 20.07%; The realized investment income was 159 million yuan, accounting for 12.32%, including 124 million yuan of equity investment income confirmed for Tiantai energy, 23.02 million yuan of investment income confirmed for Guizhou Qianyuan Power Co.Ltd(002039) and 10.26 million yuan of investment income confirmed for Chongqing public platform facilities investment and development group.
Looking forward to 2022, Chongqing Three Gorges Water Conservancy And Electric Power Co.Ltd(600116) said that it would continue to deepen the implementation of power system reform and state-owned enterprise reform policies, closely focus on the strategic goal of “building a first-class comprehensive energy listed company based on power distribution”, adhere to the rule of law, standardize operation, seek development, increase benefits, promote reform and prevent risks, focus on value creation and maximize the interests of shareholders, and promote the development of the company to a new level. Throughout the year, the company plans to complete the sales of 13.034 billion kwh of electricity and realize the operating revenue of 12.352 billion yuan, an increase of 21.37% over 2021.
