REG - China Yangtze Power - Preliminary 2021 Annual Results

China Yangtze Power CoAnnouncement

26/01/2022 09:00

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RNS Number : 6941Z  China Yangtze Power Co. Ltd.  26 January 2022

China Yangtze Power Co., Ltd.

Announcement of Preliminary 2021 Annual Results

The board of directors of China Yangtze Power Co., Ltd. (the "Company") is
pleased to hereby announce preliminary key financial information of the
Company for the year ended 31 December 2021.

 

Investors should note that the financial information set out in this
announcement is preliminary and has not been audited. Final audited financial
information for the year ended 31 December 2021 will be disclosed in the 2021
annual report and accounts of the Company to be published in due course.
Accordingly, investors are advised to exercise caution when dealing in the A
shares and global depository receipts representing A shares of the Company on
the basis of the information in this announcement.

 

I. Key Financial Information

Unit: RMB in 100 million, unless otherwise indicated

                                                                                Year ended 31 December 2021  Year ended 31 December 2020  Change (%)
 Total revenue                                                                   556.90                       577.83                      -3.62
 Operating profit                                                                329.69                       328.96                      0.22
 Total profit                                                                    325.03                       324.56                      0.15
 Net profit attributable to shareholders of the listed company                   264.47                       262.98                      0.57
 Net profit attributable to shareholders of the listed company after deducting   243.28                       261.76                      -7.06

 non-recurring profit and loss
 Basic earnings per                                                              1.1629                       1.1853                      -1.89

 share (RMB)
 Weighted average return on net assets (%)                                      15.03                        16.71                        Decreased by 1.68 percentage points

 

                                                                                As at 31 December 2021  As at 31 December 2020  Change (%)
 Total assets                                                                    3,282.00                3,308.27               -0.79
 Equity attributable to shareholders of the listed company                       1,807.81                1,721.18               5.03
 Share capital (in 100 million shares)                                           227.42                  227.42                 0.00
 Net assets per share attributable to shareholders of the listed company (RMB)   7.95                    7.57                   5.03

 

II. Analysis of the Operating Results and Financial Position

 

In 2021, the Company achieved total profit of RMB 32.503 billion, representing
an increase of RMB 47 million or 0.15% as compared to 2020. Net profit
attributable to shareholders of the Company was RMB 26.447 billion,
representing an increase of RMB 0.149 billion or 0.57% as compared to 2020.
Basic earnings per share were RMB 1.1629 in 2021, representing a decrease of
RMB 0.0224 or 1.89% as compared to 2020. The increase in the performance of
the Company's investment business, international business and power stations'
maintenance business counteracted the impact of the decrease in electricity
sales performance.

Note: The main reason for the decline of basic earnings per share is basically
that the Company completed GDR issuance in October 2020, and the weighted
average of common shares in the current period is higher than that of the
previous year.

 

The Board of Directors of China Yangtze Power Co., Ltd.

26 January 2022

 

 

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