TBEA's net profit in 2020 increased by 23.21%: Chairman Zhang Xin's salary was 3.1673 million

On April 14, TBEA (600089) recently released its 2020 annual report, and during the reporting period, the company achieved operating income of 44,095,319,973.44 yuan, an increase of 19.24% year-on-year; the net profit attributable to the shareholders of the listed company was 2,486,870,007.53 yuan, an increase of 23.21% year-on-year.

Net cash flow from operating activities during the reporting period was RMB5,258,062,188.98 and net assets attributable to shareholders of the listed company as of the end of 2020 were RMB37,601,266,021.94.

In 2020, the company made every effort to overcome the global resistance to the new crown epidemic, build a three-level epidemic prevention and control system, improve the active defense mechanism, and adhere to the policy of "two hands, two hands hard, and two mistakes" in epidemic prevention and control and production and operation, ensuring the normal development of the company's production and operation work.

During the reporting period, operating profit, total profit, net profit, total comprehensive income, and total comprehensive income attributable to shareholders of the parent company increased by 31.61%, 30.26%, 33.72%, 36.97%, and 30.77% respectively over the same period of the previous year, mainly due to the active development of the market, the 36,000 tons / year high-purity polysilicon industry upgrading project reached production, the polysilicon production increased, the income from the transfer business of new energy power stations increased, the increase in coal sales and the increase in the average price of coal and the strengthening of cost control.

The financial expenses during the period were RMB1,252,812,266.12, an increase of 77.86% year-on-year, mainly due to the conversion of projects under construction such as the 2×660MW Kengkou Power Station Project and the 36,000 tons/year high-purity polysilicon industry upgrading project in Xinjiang's Zhuandong Wucaiwan North Power Plant in the fourth quarter of 2019 and the first quarter of 2020, respectively, and the interest expense of project loans in the reporting period and the exchange loss of foreign currency assets affected by exchange rate fluctuations. The investment income during the period was 920.588 million yuan, an increase of 129.00% year-on-year, mainly due to the increase in investment income generated by the sale of new energy power plants by new energy companies.

According to the announcement, the total remuneration of directors, supervisors and senior management during the reporting period was 25.3842 million yuan. The total pre-tax remuneration received by Chairman Zhang Xin from the company was 3.1673 million yuan; the total pre-tax remuneration received by director and general manager Huang Hanjie from the company was 2.7885 million yuan; the total pre-tax remuneration received by director and deputy general manager Hu Nan from the company was 1.3311 million yuan; the total pre-tax remuneration received by Deputy General Manager Wu Wei from the company was 1.2039 million yuan; and the total pre-tax remuneration received by Jiao Haihua, secretary of the board of directors, was 839,500 yuan.

The announcement discloses that after audit by ShineWing Certified Public Accountants (Special General Partnership), the Company (the parent company) achieved a net profit of 756,790,938.98 yuan in 2020, and according to the provisions of the Articles of Association of TBEA Electric Co., Ltd., it withdrew 10% of the statutory provident fund of 75,679,093.90 yuan, plus the undistributed profit of the previous year, and the profit available for distribution to shareholders in 2020 was 5,759,259,094.16 yuan. The Company proposes to distribute cash of RMB2.10 (including tax) for every 10 shares on the basis of a total share capital of 3,714,312,789 shares, for a total cash distribution of RMB780,005,685.69 (including tax), and the undistributed profit at the end of the period is carried forward to future years.

If the company's profit distribution share capital base changes before the implementation of the profit distribution plan, the total amount of cash distribution will be determined according to the proportion of 2.10 yuan (including tax) for every 10 shares. In 2020, the company will not convert the capital reserve fund into equity capital. The profit distribution and the conversion of the capital reserve fund into equity capital have yet to be submitted to the company's 2020 annual general meeting of shareholders for consideration.

According to the data of the digging network, the main business of TBEA includes power transmission and transformation business, new energy business and energy business.

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This article originated from the digging shell network