深圳南山热电股份有限公司2021年年度报告全文
深圳南山热电股份有限公司
Shenzhen Nanshan Power Co. Ltd.Annual Report 2021
March 2022
1深圳南山热电股份有限公司2021年年度报告全文
Section I. Important Notice Contents and Interpretation
Board of Directors Supervisory Committee all directors supervisors and senior
officers of Shenzhen Nanshan Power Co. Ltd. (hereinafter the Company)
guarantee that the Annual Report contains no misrepresentations misleading
statements or material omissions and take all responsibilities individual and/or
joint for the reality accuracy and completion of the whole contents.Principal of the Company- Chairman Li Xinwei person in charger of
accounting works- Director and GM Chen Yuhui and person in charge of
accounting organ (chief accountants)- deputy GM Shang Ying(act for financial
works) guarantee that the Financial Report of the annual report disclosed is
truthful accurate and complete.All directors are attended the Board Meeting for annual report deliberation.The Company plans to pay no cash dividends send no bonus shares and not to
increase share capital by converting from public reserves this year.Concerning the forward-looking statements with future planning involved in the
Annual Report they do not constitute a substantial commitment for investors.Investors are advised to exercise caution of investment risks.The Report has been prepared in both Chinese and English for any
discrepancies the Chinese version shall prevail. Investors are advised to read the
full text of the Report carefully.
2深圳南山热电股份有限公司2021年年度报告全文
Contents
Section I Important Notice Contents and Interpreta... 2
Section II Company Profile and Main Financial Inde... 7
Section IIIManagement Discussion and Analysis ...... 12
Section IV Corporate Governance .................... 38
Section V Enviornmental and Social Reponsibility ... 64
Section VI Important Matters ....................... 67
Section VII Changes in Shares and Particular about.. 75
Section VIII Preferred Stock ....................... 83
Section IX Bonds ................................... 84
Section X Finanacial Report ........................ 85
3深圳南山热电股份有限公司2021年年度报告全文
Document Catalog for Review
I. Original Annual Report of 2021 carrying the signature of the legal representative of the Company
II. Financial statements with signature and seal of Person in charge of the Company person in charge of accounting works and person
in charge of accounting organ(accountant in charge);
III. Original audit report seal with accounting firms and signature and seal from CPA;
IV. Text of notice and original draft that public on China Securities Journal Securities Times and Hong Kong Commercial Daily
during the reporting period.V. The place where the document placed: Shenzhen Stock Exchange Office of Board of Directors of the Company.
4深圳南山热电股份有限公司2021年年度报告全文
Interpretation
Items Refers to Contents
Company the Company Shen Nan Dian The
Refers to Shenzhen Nanshan Power Co. Ltd.listed company
CSRC Refers to China Securities Regulatory Commission
State-owned Assets Supervision and Administration Commission of
SASAC of Shenzhen Municipal Refers to
the People’s Government of Shenzhen Municipal
Shenzhen Capital Refers to Shenzhen Capital Holdings Co. Ltd.SZ Energy Group Refers to Shenzhen Energy Group Co. Ltd.Liaoyuan Environmental Protection Liaoyuan
Refers to Jiangsu Liaoyuan Environmental Protection Technology Co. Ltd.Environmental Protection
Zhuhai Hengqin Zhuozhi Investment Partnership (Limited
Zhuozhi Fund Refers to
Partnership)
Shen Nan Dian Zhongshan Company Refers to Shen Nan Dian (Zhongshan) Electric Power Co. Ltd.Shen Nan Dian Engineering Company Refers to Shenzhen Shennandian Turbine Engineering Technology Co. Ltd.Shen Nan Dian Environment Protection
Refers to Shenzhen Shen Nan Dian Environment Protection Co. Ltd.Company
Server Company Refers to Shenzhen Server Petrochemical Supplying Co. Ltd
New Power Company Refers to Shenzhen New Power Industrial Co. Ltd.Singapore Company Refers to Shen Nan Energy (Singapore) Co. Ltd.Nanshan Power Factory Refers to Nanshan Power Factory of Shenzhen Nanshan Power Co. Ltd.Zhongshan Nanlang Power Plant of Shen Nan Dian (Zhongshan)
Zhongshan Nanlang Power Plant Refers to
Electric Power Co. Ltd.Audit institution LIXINZHONGLIAN LIXINZHONGLIAN CPAS (SPECIAL GENERAL
Refers to
accounting organ PARTNERSHIP)
Company Law Refers to Company Law of the People’s Republic of China
Securities Law Refers to Securities Law of the People’s Republic of China
Rules Governing the Listing of Stocks Refers to Rules Governing the Listing of Stocks on Shenzhen Stock Exchange
Articles of Association Refers to Article of Association of Shenzhen Nanshan Power Co. Ltd.Except the special description of the monetary unit the rest of the
Yuan ten thousand Yuan one hundred million Refers to monetary unit is RMB Yuan ten thousand Yuanone hundred million
Yuan
5深圳南山热电股份有限公司2021年年度报告全文
Reporting period Refers to 1 January 2021 to 31 December 2021
6深圳南山热电股份有限公司2021年年度报告全文
Section II. Company Profile and Main Financial Indexes
I. Company information
Short form of the stock Shen Nan Dian A Shen Nan Dian B Stock code 000037 200037
Stock exchange for listing Shenzhen Stock Exchange
Name of the Company (in深圳南山热电股份有限公司
Chinese)
Short form of the Company深南电
(in Chinese)
Foreign name of the Company
Shenzhen Nanshan Power Co. Ltd.(if any)
Legal representative LI XINWEI
Registrations add. No.2097 Yueliangwan Avenue Nanshan District Shenzhen Guangdong Province
Code for registrations add 518054
Historical changes of
N/A
registered address
Offices add. 16/F-17/F Hantang Building OCT Nanshan District Shenzhen Guangdong Province
Codes for office add. 518053
Company’s Internet Web Site http://www.nsrd.com.cn
E-mail public@nspower.com.cn; investor@nspower.com.cn
II. Person/Way to contact
Secretary to the BOD Rep. of security affairs
Name Zou Yi
16/F-17/F Hantang Building OCT
Contact add. Nanshan District Shenzhen Guangdong
Province
Tel. 0755-26003611
Fax. 0755-26003684
E-mail investor@nspower.com.cn
III. Information disclosure and preparation place
Website of the Stock Exchange where the annual Shenzhen Stock Exchange- http://www.szse.cn/
7深圳南山热电股份有限公司2021年年度报告全文
report of the Company disclosed
China Securities Journal - https://www.cs.com.cn/ Securities Times -
Media and Website where the annual report of the
http://www.stcn.com/ Hong Kong Commercial Daily - http://hkcd.com/
Company disclosed
Juchao Website: http://www.cninfo.com.cn/
Secretariat of the Board of Directors 17/F Hantang Building OCT
Preparation place for annual report
Nanshan District Shenzhen Guangdong Province
IV. Registration changes of the Company
Organization code 91440300618815121H
Changes of main business since listing (if
N/A
applicable)
Previous changes of controlling
No controlling shareholder
shareholders (if applicable)
V. Other relevant information
CPA engaged by the Company
Name of CPA LIXINZHONGLIAN CPAS (SPECIAL GENERAL PARTNERSHIP)
1-1-2205-11 North Zone Financial and Trade Center No. 6865 Asia Road Pilot Free Trade
Offices add. for CPA
Zones (Dong-jiang Free Trade Port Zone) Tianjin
Signing Accountants Cao Wei，Liu XinfaSponsor engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable √ Not applicable
Financial consultant engaged by the Company for performing continuous supervision duties in reporting period
□ Applicable √ Not applicable
VI. Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□ Yes √ No
Changes in the current
2021 2020 year over the previous 2019
year (+-)
Operating revenue (RMB) 757175743.41 985253831.58 -23.15% 1222577954.53
Net profit attributable to
shareholders of the listed Company -439448712.13 64024291.32 -786.38% 24900956.73
(RMB)
Net profit attributable to
-514142213.757601038.59-6864.10%14685745.16
shareholders of the listed Company
8深圳南山热电股份有限公司2021年年度报告全文
after deducting non-recurring gains
and losses (RMB)
Net cash flow arising from
-39258302.07260725409.02-115.06%202943908.61
operating activities (RMB)
Basic earnings per share
-0.72910.1062-786.53%0.0413
(RMB/Share)
Diluted earnings per share
-0.72910.1062-786.53%0.0413
(RMB/Share)
Weighted average ROE -23.95% 3.15% -27.10% 1.25%
Changes at end of the
current year compared
Year-end of 2021 Year-end of 2020 Year-end of 2019
with the end of
previous year (+-)
Total assets (RMB) 2790002824.41 3020830930.06 -7.64% 3219261720.55
Net assets attributable to
shareholder of listed Company 1615293135.51 2054741847.64 -21.39% 2002772808.24
(RMB)
The lower one of net profit before and after deducting the non-recurring gains/losses in the last three fiscal years is negative and the
audit report of last year shows that the ability to continue operating is uncertain
□Yes √No
The lower one of net profit before and after deducting the non-recurring gains/loses is negative
√Yes □No
Item 2021 2020 Note
Mainly the revenue from power
Operating revenue (RMB) 757175743.41 985253831.58
generation
Amount deducted from Mainly the revenue from
1218981.052769454.42
operating revenue (RMB) housing rental
Other operating revenue after
Operating revenue after
755956762.36 982484377.16 deduction of the housing rental
deduction (RMB)
revenue
VII. Difference of the accounting data under accounting rules in and out of China
1. Difference of the net profit and net assets disclosed in financial report under both IAS (International
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report under either IAS (International
Accounting Standards) or Chinese GAAP (Generally Accepted Accounting Principles) in the period.
9深圳南山热电股份有限公司2021年年度报告全文
2. Difference of the net profit and net assets disclosed in financial report under both foreign accounting
rules and Chinese GAAP (Generally Accepted Accounting Principles)
□ Applicable √ Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report under either foreign accounting rules or
Chinese GAAP (Generally Accepted Accounting Principles) in the period.VIII. Quarterly main financial index
In RMB/CNY
Q 1 Q 2 Q 3 Q 4
Operating revenue 86380557.37 290221836.01 212550225.68 168023124.35
Net profit attributable to
-13078849.2214535118.90-45521851.73-395383130.08
shareholders of the listed Company
Net profit attributable to
shareholders of the listed Company
-15774423.49-3743192.02-64881113.62-429743484.62
after deducting non-recurring gains
and losses
Net cash flow arising from
-38883595.50107804308.4920211042.05-128390057.11
operating activities
Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial
index disclosed in the Company’s quarterly report and semi-annual report
□ Yes √ No
IX. Items and amounts of non-recurring (extraordinary) profit (gains)/loss
√Applicable □ Not applicable
In RMB/CNY
Item 2021 2020 2019 Note
Gains/losses from the disposal of
non-current asset (including the write-off 974699.74 -1144118.91 -527109.02
that accrued for impairment of assets)
Governmental subsidy calculated into
current gains and losses(while closely Amortization of
related with the normal business of the government subsidy
Company the government subsidy that related to assets and
23396336.6013833445.536402848.81
accord with the provision of national receipt of the
policies and are continuously enjoyed in line subsidies for gas-
with a certain standard quota or quantity are generation costs
excluded)
Gains/losses on debt restructuring 7593783.90
10深圳南山热电股份有限公司2021年年度报告全文
Gains/losses arising from contingency that
Reversal of the
without relation with the normal operation 5000000.00 6584816.78
accrual liabilities
business of the Company
Gains/losses of fair value changes arising
from holding of the trading financial asset
trading financial liability and investment
earnings obtained from disposing the trading The wealth
47887839.11
financial asset trading financial liability management income
and financial assets available for sale except
for the effective hedging business related to
normal operation of the Company
Switch back of the impairment for
receivables that has impairment test 12000.00
independently
Other non-operating income and expenditure
13652.99-118229.625578877.22
except for the aforementioned items
Other gains/losses items that meets the
33534881.55
definition of non-recurring gains/losses
Less: impact on income tax 152683.61 195823.19
Impact on minority shareholders’
2579026.823708642.891055582.25
equity (post-tax)
Total 74693501.62 56423252.73 10215211.57 --
Details of other gains/losses items that meets the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss
11深圳南山热电股份有限公司2021年年度报告全文
Section III Management Discussion and Analysis
I. Industry of the Company during the reporting period
The Company shall comply with the relevant disclosure requirement for electricity-related industries of Shenzhen Stock Exchange
Self-Regulatory Guidelines for Listed Companies No.3 - Disclosure of Industry Information
In 2021 the economic situation of the whole country and Guangdong continue d to improve and the demand for electricity further
increased. According to the data of Guangdong Power Exchange Center by the end of 2021 the installed capacity of unified
dispatching of power grids in Guangdong was 159 million kW with a year-on-year growth of 12.6% among them the installed
capacity of provincial-level dispatching was 127 million kW and that of prefecture-level dispatching was 32 million kW. The
installed capacity of gas generator set was 30.546 million kW increased by 14.0% on a year-on-year basis and the installed capacity
accounted for 19.3%. In 2021 the total electricity consumption of Guangdong province throughout the year was 786.663 billion kWh
with a year-on-year growth of 13.6%. The maximum load of unified dispatching of the whole province was 135.13 million kW a
year-on-year increase of 6.5%. The total electricity consumption in Shenzhen reached 110.34 billion kWh breaking through the 100
billion mark for the first time with a year-on-year increase of 12.2%. In 2021 the cumulative transaction of electricity in Guangdong
power market was 295.17 billion kWh with a year-on-year increase of 18% cumulatively saving electricity costs for users by 10.05
billion yuan saving coal consumption for power generation by 2.584 million tons reduc ing carbon dioxide emission by 6.872
million tons reducing sulfur dioxide emission by 5 tons and reducing social power generation cost by 2.07 billion yuan. In 2021
215.03 billion kilowatt-hours of electricity were negotiated in bilateral transactions with a year-on-year increase of 1.9% and with
an average price difference of -53.6 li/kWh. In 2021 monthly transactions totaled 63.81 billion kWh an increase of 85.2% on a
year-on-year basis and with an average price difference of -21.5 li/kWh. Among them the turnover of coal-fired generating units
was 49.43 billion kWh with an average price difference of -21.5 li/kWh; the the turnover of gas generating units was 14.38 billion
kWh with an average price difference of -21.9 li/kWh. From January to December in 2021 monthly power generation contract
transfer transactions totaled 14.88 billion kWh of electricity with an average transaction price of 405.4 li/kWh. Among them the
turnover of coal-fired generating units was 11.5 billion kWh with an average transaction price of 378.3 li/kWh; the the turnover of
gas generating units was 3.38 billion kWh with an average transaction price of 501.0 li/kWh.In the meantime with the deepening reform of Guangdong's electricity market the electricity spot market in Southern China
(starting from Guangdong) carried out the trial operation of settlement in May and November to December in 2021 steadily
promoting the transition from "monthly" to "uninterrupted" longer billing cycle and establishing a temporary mechanism for
directing market price to end users. Since November the spot market has achieved major breakthroughs of "running while
improving".In 2021 although the demand for electricity increased significantly the price of natural gas rose all the way and remained high in the
same period the on-grid price seriously dropped away form the fuel price resulting in serious loss of power generation to gas power
generation enterprises. Therefore Guangdong Province and Shenzhen Municipal government on the one hand required all power
generation enterprises to do their best to ensure electric power supply and on the other hand issued a series of policies a nd measures
to encourage the majority of power generation enterprises to implement electric power supply guarantee including an increase of 0.1
yuan/kWh in electricity charges for gas-fired power generation enterprises during peak periods in August and September since
October 1 the on-grid electricity price of 9E gas turbine power plants in Guangdong province has increased by 0.05 yuan/kWh and
the Shenzhen municipal government issued a fiscal subsidy of 0.1 yuan/kWh for the electricity generated by Shenzhen local gas
12深圳南山热电股份有限公司2021年年度报告全文
turbine power plants in August and September which alleviated the operating dilemma faced by 9E gas turbine power plants to a
certain extent but has little impact on reversing the serious loss of power generation.II. Main business of the Company during the reporting period
The Company shall comply with the relevant disclosure requirement for electricity-related industries of Shenzhen Stock Exchange
Self-Regulatory Guidelines for Listed Companies No.3 - Disclosure of Industry Information
The Company is specialized in power and thermal supply as well as providing technical consulting and technical services for power
stations. At the end of reporting period the Company holds two wholly-owned and holding gas turbine plants which equipped with
five sets of 9E gas steam combined cyc le power generating units with total installed capacity up to 900000 KW (Nanshan Power
Factory: 3×180000KW Zhongshan Nanlang Power Plant: 2×180000KW).The two gas turbine plants are located in the power-load
center of the Pearl River Delta and it is the main peak-regulating power supply in the region which is currently in normal production
and operation state.During the reporting period the company's main power business was confronted with many difficulties such as repeated COVID-19
pandemic continued high fuel prices and a further increase in the proportion of electricity market transactions. In order to minimize
the negative impact of the external environment on the company's operating performance the company implemented a series of
business layout and management changes with innovative thinking and tenacious perseverance defined the annual business
objectives and guidelines took major targeted measures constantly strengthened the economic operations management on the basis
of continuously intensifying safety production management. Complying with the accelerating trend of electric power market reform
in Guangdong province the company organized two subordinate power plants to actively participate in the electricity
market-oriented marketing competition and achieved good results and made contributions to reduce losses.During the reporting period the company paid close attention to the operation and market expanding of relevant stock businesses
and its subordinate Shen Nan Dian Engineering Company continuously expanded the technical consulting and technical service
business of domestic and foreign gas turbine power station construction projects. Shen Nan Dian Environment Protection Company
used the waste heat of gas turbine power generation to engage in the dry treatment business of wet sludge in sewage treatment plant
realizing the reduction harmless treatment and comprehensive utilization of resources of municipal sludge in Shenzhen. However
due to various reasons the output of Environmental Protection Company in the reporting period decreased significantly compared
with that of last year.Main operation data
Item Current Period Same Period Last Year
Gross installed capacity (10000 KW) 90 90
Installed capacity of newly commissioned
00
units (10000 KW)
Planned installed capacity of approved
00
projects (10000 KW)
Planned installed capacity of projects
00
under construction (10000 KW)
Generating capacity (100 million KWH) 11.48 8.87
13深圳南山热电股份有限公司2021年年度报告全文
On-grid electricity or electricity sales (100
11.448.74
million KWH)
Average rate of electricity consumption
3.25%3.43%
from power station(%)
Utilization time from power station
1263986
(Hours)
Electricity sales business
√Applicable □Not applicable
In 2021 the company's two subordinate power plants complete d a total of 1.144 billion kWh of on-grid energy 608 million kWh of
marketing electric quantity in the month of price difference and 675 million kWh of contract electric quantity in the spot month. The
electric quantity of the company's subordinate power plants were as follows: Nanshan Power Factory completed 977 million kWh of
on-grid energy 332 million kWh of marketing electric quantity in the month of price difference and 395 million kWh of contract
electric quantity in spot month; Zhongshan Nanlang Power Plant completed 167 million kWh of on-grid energy 276 million kWh of
marketing electric quantity in the month of price difference and 280 million kWh of contract electric quantity in spot month.Reasons for major changes in relevant data
□Applicable √Not applicable
III. Core Competitiveness Analysis
In recent years due to the impact of the macroeconomic situation and the common problems of gas turbine generating industry the
Company’s main business has been facing increasing difficulties and challenges. However the basic core competitiveness formed by
the operation and development for more than three decades and thanks to the strong support from major shareholders and the
management innovations adopted by BOD and leading group it has laid a necessary foundation for the Company to survive and
seeking transformation and development. During the reporting period the Company continued to increase the investment in R&D
successfully passed the certification as a high-tech enterprise.Core competitiveness of the Company was further consolidated and
improved and there were no other major changes that might affect the future operation of the Company.
1. A mature and completed governance structure & a rigorous and standardized risk-control mechanism. As a listed company with
over 20-year baptism in securities market on the main board the Company has been strictly in accordance with the Company Law
Securities Laws Rules Governing the Listing of Stocks and relevant requirements of laws and regulations of the CSRC and
Shenzhen Stock Exchange and continuously improved the corporate governance and regulated the operation. The “Three Meetings”
operation was normative and efficient and the internal management was streamlined and orderly. Meanwhile the Company
continuously reinforcing the supervision and auditing role on standard operation and internal control of the listed company p layed by
supervisory committee and auditing authority; effectively prevent and avoid the risks while improving the management and
decision-making efficiency.
2. Hard-working and innovative management culture and pragmatic and efficient operating mechanism. Combining its own actual
situationthe Company has broken the barriers of the original traditional business model and greatly improved the decision-making
efficiency and work performance by establishing four major operation and management centers including a power sales center a
fuel center a financial center and an information center innovating the management model of production coordination and sa fety
14深圳南山热电股份有限公司2021年年度报告全文
supervision and effectively integrating business resources; the Company set up a capital (operation) center and set up an
accounting sharing center to comprehensively balance the improvement of production operation and management efficiency; and
establish a science & technology innovation committee with purpose of stimulating the enthusiasm of majority of the employees to
study technology improve themselves and innovate continuously the supervision and management of production technology have
achieved a new step. While the Company built an efficient operating mechanism the leadership team served as ro le models
combined a series of effective management measures such as deepening human resources reform and the "military order" assessment
mechanism advocated and built the management culture of unity hard work innovation and enterprise throughout the Company
which laid a good management foundation for the Company to deeply explore its internal potential and actively seek external
opportunities.
3. A loyal and dedicated management team & professional and progressive technical personnel. With more than 30 years of hard
work and the company’s influence in the gas turbine power generation industry and the Company’s pioneering and innovative spirit
and enterprising spirit the Company has absorbed and trained a group of technical experts and professionals in the gas turbine
industry accumulated rich experience in the construction and operation management of gas turbine power plants. In order to adapt to
the market situation of the further propulsion of the electricity trading market-oriented reform in Guangdong Province the Company
formed a team of professionals to study the electricity trading strategy and build a mathematical model of electricity tradin g. It
accumulated rich experience in electricity marketing which laid a solid foundation for the Company to actively respond to the
electricity market reform.Further more Shen Nan Dian Engineering Company has provided professional services such as technical
consulting commissioning and maintenance for dozens of domestic and international gas turbine power stations. The Company's
training center has successively undertaken the technician training business for tens of power plants at home and abroad and has
become a renowned professional training base in the domestic gas turbine industry and has established a good reputation and
professional brand image in the industry.The Company also has a group of management talents with innovative consciousness and
fighting spirit based on the principle of being highly responsible to the Company they lead all employees to make unremitting
efforts for the Company’s continuous operation and transformation development.
4. Advanced research ability important part of strong power grid. The company has a number of independent utility model patents
and software copyrights jointly draws up one national standard and a number of patents for invention are under review by the China
National Intellectual Property Administration. On December 23 2021 the company was identified as the second batch of high-tech
enterprises in 2021 by Shenzhen municipal administrative authority the company's scientific research innovation work has been
unanimously affirmed. At the same time in order to effectively improve the rapid recovery ability of power system Nanshan
Thermal Power Plant fully responded to the construction planning of black-start power supply point and completed the power grid
black-start power supply point project in the reporting period which greatly enhanced the core competitiveness of Nanshan Thermal
Power Plant in the power grid.IV. Main business analysis
1. Introduction
th
2021 was the first year of the 14 Five-Year Plan. At the historic juncture of the two Centenary Goals faced with the complex and
volatile situation of COVID-19 and tight electricity supply and demand the electricity market construction in Guangdong province
has made great progress the electricity consumption in Guangdong province and Shenzhen continued to increase substantially. The
company actively implemented the work plan of the government departments at all levels improved the political position
conscientiously fulfilled the social responsibility with the greatest efforts guaranteed that the generating units should be fully
operational ensured safe and reliable power supply for the centennial anniversary of the founding of the Party and made outstanding
15深圳南山热电股份有限公司2021年年度报告全文
contributions for alleviating the severe power shortage in Guangdong province and Shenzhen. The company's subordinate Nanshan
Power Factory and Zhongshan Nanlang Power Plant actually completed 1.144 billion kWh of on-grid energy a 30.89% rise on a
year-on-year basis. The annual average utilization time of the generating units of the two power plants was 1263 hours and the
annual average service power consumption rate was 3.25%. During the reporting period the 2021 bilateral contract signed by
Nanshan Power Factory and Zhongshan Nanlang Power Plant amounted to 1.165 billion kWh and the transferred and settled
electricity of the two plants amounted to 490 million kWh. The company carried out the following main work during the reporting
period:
1. As a state-owned enterprise took responsibility and actively fulfilled corporate social responsibilities. The international fuel prices
have been fluctuating upward since the beginning of 2021 due to the ongoing COVID-19 pandemic rising global inflation and
changes in oil supply and demand and the domestic fuel prices for power generation such as coal and natural gas have also risen.The high cost of power generation restricted the thermal power enterprises to generate power and the domestic electric power supply
gap widened "power shortage" reappeared and some regions even carried out power rationing for a time. Under such
circumstances although the on-grid price seriously dropped away from the cost of power generation the company still firmly
adhered to its political stance resolutely implemented the decisions and arrangements for ensuring electric power supply overcame
all difficulties to ensure the safe production and stable supply of power and actively implemented its corporate social responsibility.During the period of no-break power in 2021 the company's two power plants generated a combined 933 million kWh an increase of
255 million kWh on a year-on-year basis.
2. Strictly supervised and resolutely ensured the safety and environmental protection standards. The company pa id close attention to
the implementation of the main responsibility of production safety promoted the risk ranking management and control and the safety
construction of work groups promoted the continuous improvement of work safety standardization the three-year action of work
safety special rectification and the safety culture construction. The company continued to maintain the safety target of "Five No" and
comprehensively completed the indicators for safety assessment. By December 31 2021 we achieved 6453 days of work safety.During the reporting period the company completed various pollution reduction tasks and no environmental pollution accidents and
safety production accidents occurred.
3. Took the initiative to effectively improve the fund management level. At the same time the company tried to reduce the loss
revitalized the funds through many measures and created benefits with funds management. To improve the use efficiency and
income level of its own funds and reduce the financing cost the company focused on the key points of funds took benefits as the
center and low risk as the premise strengthened the capital outflow into the two-way management and used their own cash to the
fullest. Under the circumstance that foreign investment in new projects reduced cash the company still actively developed the wealth
management opportunities of market through a variety of products and channels strived for no idle cash in the account and achieved
gratifying results in adversity.
4. Made overall planning and efficiently completed the black-start technical innovation project. In 2021 the company’s Nanshan
Power Factory fully responded to the construction planning of black-start power supply point. Starting from "helping relieve the huge
frequency modulation pressure faced by power dispatching every day and effectively improving the rapid recovery ability of
Shenzhen west power grid" strived for opportunities from China Southern Power Grid Guangdong Power Grid Shenzhen Power
Grid and was finally selected as the black-start power supply point of the black-start critical path of the power grid. At present the
project has been identified as "Shenzhen West Guaranteed Power Grid" and "Hong Kong Emergency Guaranteed Power Supply
Point" by the government department has accepted the on-site safety assessment by the South China Energy Regulatory Office of
National Energy Administration as an important part of Shenzhen's local strong power grid which greatly improved the core
16深圳南山热电股份有限公司2021年年度报告全文
competitiveness of Nanshan Power Factory in the power grid created a good foundation and premise and won favorable time and
space for the company's next transformation and development.
5. Increased research and development and successfully identified as the "National High-tech Enterprise". In order to further
enhance the core competitiveness the company continued to strengthen the research and development timely started the national
high-tech enterprise identification and application work and was identified as the second batch of high-tech enterprises in 2021 by
Shenzhen municipal administrative authority on December 23 2021 marking a complete success to the company's national high-tech
enterprise application work. After being identified as a national high-tech enterprise the company can enjoy a preferential tax rate
of 15% the government subsidies additional deduction of R&D expenses rewards and subsidies for high-level talents government
targeted allocation of housing and other incentive policies.
6. With transformation development steadily took new steps in strategic transformation. In terms of transformation development the
company on the one hand steadily promoted the landing of Zhuozhi Fund project signed the equity subscription agreement capital
increase agreement and shareholder agreement with Nanjing Zhongsheng Holdings Co. Ltd. and obtained 5.6% equity of Nanjing
Zhongsheng Holdings Co. Ltd.. On the other hand the company timely started the investigation and survey of Liaoyuan
Environmental Protection combined with various arguments and considered that the project was in line with the company's future
strategic layout and completed the purchase of part of the shares of Liaoyuan Environmental Protection step by step within t he year
receiving a total of 4.0485 million shares of Liaoyuan Environmental Protection accounting for 9.93% of the total share capital of
Liaoyuan Environmental Protection.In 2021 the Company has achieved a revenue in operation of 757 million Yuan the net profit attributable to shareholder of listed
company amounted as -439.4487 million Yuan and basic EPS was -0.7291 Yuan.
2. Revenue and cost
(1) Constitute of operation revenue
In RMB/CNY
20212020
Increase/decrease
Ratio in operating Ratio in operating
Amount Amount y-o-y (+-)
revenue revenue
Total operating
757175743.41100%985253831.58100%-23.15%
revenue
Industry classification
Energy industry 708883313.18 93.62% 878600297.92 89.18% -19.32%
Engineering service 43685185.43 5.77% 41094571.29 4.17% 6.30%
Sludge drying 3388263.75 0.45% 62789507.95 6.37% -94.60%
Other 1218981.05 0.16% 2769454.42 0.28% -55.98%
Product classification
17深圳南山热电股份有限公司2021年年度报告全文
Electricity sales 708883313.18 93.62% 878600297.92 89.18% -19.32%
Engineering service 43685185.43 5.77% 41094571.29 4.17% 6.30%
Sludge drying 3388263.75 0.45% 62789507.95 6.37% -94.60%
Other 1218981.05 0.16% 2769454.42 0.28% -55.98%
Region classification
Domestic 757175743.41 100.00% 985253831.58 100.00% -23.15%
Sales model
Direct sales 757175743.41 100.00% 985253831.58 100.00% -23.15%
(2) The industries products regions or sales model accounting for over 10% of the Company’s operating
revenue or operating profit
√Applicable □ Not applicable
The Company shall comply with the relevant disclosure requirement for electricity-related industries of Shenzhen Stock Exchange
Self-Regulatory Guidelines for Listed Companies No.3 - Disclosure of Industry Information
In RMB/CNY
Increase/decrease Increase/decrease Increase/decrease
Operating
Operating cost Gross margin of operating of operating cost of gross margin
revenue
revenue y-o-y y-o-y y-o-y
Product classification
Electricity sales 708883313.18 816273176.20 -15.15% -19.32% 12.64% -186.46%
Engineering
43685185.4328002979.5635.90%6.30%-2.04%17.95%
service
Region classification
Domestic 752568498.61 844276155.76 -12.19% -18.17% 12.09% -167.33%
Reasons for great changes in relevant financial indicators
√ Applicable □Not applicable
In 2021 the operating revenue from sludge drying was lower than a year earlier mainly due to the lower sludge capacity.In 2021 gross margin of electricity sales decreased compared to the same period of previous year mainly because cost of natural gas
goes up due to the unit price soaring; the market trading spreads drops than the revenue from electricity trading reduced.
(3) Income from physical sales larger than income from labors
√ Yes □ No
Increase/decrease
Industries Item Unit 2021 2020
y-o-y(+-)
Sales volume 100 million KWH 11.44 8.74 30.89%
Electric Power
Output 100 million KWH 11.48 8.87 29.43%
18深圳南山热电股份有限公司2021年年度报告全文
Storage 100 million KWH
Reasons for a y-o-y changes of 30% or more in relevant data
√Applicable □Not applicable
The Company has the courage to assume social responsibility of ensuring the power supplying two power plants have generated 933
million KWH electricity in total during the power supplying of 2021 a y-o-y growth of 255 million KWH.
(4) Performance of the material sales contract and major procurement contracts that signed by the
Company up to the reporting period
□ Applicable √Not applicable
(5) Constitute of operation cost
Industry and products classification
In RMB/CNY
20212020
Increase/decrease
Industries Item Ratio in operation Ratio in operation
Amount Amount y-o-y (+-)
cost cost
Power heat 816273176.20 96.00%
Energy industry 724649204.65 91.21% 12.64%
supply
Engineering
Engineering cost 28002979.56 3.29% 28587448.80 3.60% -2.04%
service
Sludge drying
Other business 5984503.64 0.70% 41287156.94 5.20% -85.51%
etc.In RMB/CNY
20212020
Increase/decrease
Products Item Ratio in operation Ratio in operation
Amount Amount y-o-y (+-)
cost cost
Electricity sales Power supplying 816273176.20 96.00% 724649204.65 91.21% 12.64%
Engineering 3.29%
Engineering cost 28002979.56 28587448.80 3.60% -2.04%
service
Sludge drying Sludge treatment 5414557.67 0.64% 41089819.34 5.17% -86.82%
Other business Other 569945.97 0.07% 197337.60 0.02% 188.82%
Note
The main component of operation costs of electricity sales is the cost of natural gas and the natural gas as a percentage of operation
cost takes 77.37% in 2021 and 62.26% in 2020.
(6) Changes in the scope of consolidation in Reporting Period
□Yes √No
19深圳南山热电股份有限公司2021年年度报告全文
(7) Major changes or adjustment in business product or service of the Company in Reporting Period
□ Applicable √ Not applicable
(8) Major sales and main suppliers
Major sales client of the Company
Total top five clients in sales (RMB) 722610043.43
Proportion in total annual sales volume for top five clients 95.43%
Proportion in total annual sales for the related party’s
0.00%
sales in top five clients’ sales
Information of top five clients of the Company
Serial Name Sales (RMB) Proportion in total annual sales
1 Shenzhen Power Supply Bureau Co. Ltd. 584596538.90 77.21%
2 Guangdong Power Grid Co. Ltd. 96832471.77 12.79%
3 China Machinery Engineering Corporation 34239288.30 4.52%
Wuhan Electric Power Combustion Engine 0.47%
43543000.00
Installation Co. Ltd.
5 Shenzhen Water Group 3398744.46 0.45%
Total -- 722610043.43 95.43%
Other situation of main clients
□ Applicable √ Not applicable
Main suppliers of the Company
Total purchase amount from top five suppliers (RMB) 667368336.82
Proportion in total annual purchase amount for top five
95.14%
suppliers
Proportion in total annual purchase amount for the related
0.00%
party’s amount in top five suppliers
Other information on top five suppliers of the Company
Serial Name Purchases (RMB) Proportion in total annual purchases
1 Shenzhen Gas Group Co. Ltd. 470105000.20 67.02%
2 CNOOC Gas Power Group Co. Ltd. 101038830.73 14.40%
Guangdong Xin’Ao Energy Development
346701291.116.66%
Co. Ltd.Shanghai Power Equipment Research
433414857.524.76%
Institute Co. Ltd.
5 Shenzhen Power Supply Bureau Co. Ltd. 16108357.26 2.30%
20深圳南山热电股份有限公司2021年年度报告全文
Total -- 667368336.82 95.14%
Other information on main suppliers of the Company
□ Applicable √ Not applicable
3. Expenses
In RMB/CNY
Increase/decrease
2021 2020 Note of major changes
y-o-y (+-)
Decrease of sales expense mainly due
to the declined in treatment for dry
Sales expense 928661.79 4979915.34 -81.35%
mud from Shen Nan Dian Environment
Protection Company
Management expense 103286926.69 111618225.09 7.46%
Increase of financial expense mainly
because the wealth management
Financial expense 15212737.67 -66657.96 -22922.09% income adjusted to the item of
investment income and the interest
income from deposits declined.Increase of R&D expense mainly due
R&D expense 20933712.98 8490882.58 146.54% to the new increase of R&D expense
for technology from parent company
4. R&D expenses
√Applicable □√ Not applicable
Goals to be Expected impact on the future
Projects Purpose Progress
achieved development of the Company
Elevated the scientific content
and work efficiency of
Research and develop a new cooling tower electricity production save
R&D of the
inspection robot facilitating staff to carry labor costs and higher the
inspection robot in Completed
out maintenance and save the operation time scientific content and core
cooling tower
of the staff. competitiveness of the
products and service of the
Company
In case of black-start the unit is is landed for Promoting the development
R&D of the energy
operation. Increase the black-start and progress of power
storage black-start
concurrent cabinet automatically identify Completed production technology
concurrent shifter
the synchronous point grid nature and effectively strengthen the
for plant power
automatically achieved the difference of safety and security of
21深圳南山热电股份有限公司2021年年度报告全文
generator and grid connection without production higher the
pressure closing，the differential frequency scientific content and coreco-frequency and voltage-free grid competitiveness of the
connection of the line precisely closing products and service of the
when the phase-angle difference is zero Company
degrees to achieves shock-free grid
connection. Realizing the smooth exit of
plan power in order to improve the
reliability of unit operation.By connecting the electron-chemical energy
storage device with a cable between the
generator outlet and low-voltage side of the
main transformer the difficulty of Higher the economic
R&D of the wiring
retrofitting some generator sets with efficiency helping the
process of generator
electron-chemical energy storage devices Company to grow and
sets retrofitted with
can be reduced. Improving the capacity Completed improve the scientific content
electron-chemical
configuration of energy storage give full and core competitiveness of
energy storage
play to the frequency regulation advantages the products and service of
devices
of electron-chemical energy storage devices the Company
reduce the construction difficulties and
equipment investment higher the economic
efficiency.Enhance the performance of
equipment higher the
Replace the original condenser tube bundle
efficiency of equipment
R&D of the with a TP304 bundle with less impact on
operation strengthen the
condenser heat condenser operating parameters the new
safety and security of
exchanger bundle tube bundle of the condenser can be Completed
production and improve the
for 9E combine improved in terms of vibration corrosion
scientific content and core
cycle unit and scaling resistance thereby improving
competitiveness of the
the safety of the condenser
products and service of the
Company
By adding the early warning device when Deeply study the operation
there is a fire in the first stage of initial mechanism of the equipment
thermal runaway the early fire detection and optimize and improve the
R&D of the early
warning in prefabricated cabin is realized by control mode of the
warning device of
special gas detection device(characteristic equipment improve the
thermal runaway
gases as H2 CO) meanwhile when the Completed operational safety and
for energy storage
detector alarm is received through the reliability of the equipment
lithium iron
three-stage BMS the battery DC system is and escalated the scientific
phosphate battery
immediately cut off to improve operational content and core
safety of the energy storage battery competitiveness of the
compartment products and service of the
22深圳南山热电股份有限公司2021年年度报告全文
Company
With the development of industrial
production urban construction and
increasing population the increase in Proactively undertaking the
industrial emission facilities environmental social responsibility
noise is becoming increasingly serious it minimize the negative
R&D of the has become a major pollution of human environmental impact of
dissipation and social environment. In order to improve the equipment operation by using
Completed
silencing device for sense of social responsibility of the new technology and escalated
gas turbine Company minimize the noise pollution and the scientific content and core
reduce the disturbance of surrounding competitiveness of the
residents t rest and sleep and affect the products and service of the
efficiency of work meanwhile it can provide Company
technical support and reference to
enterprises with similar work needs.R&D personnel
2021 2020 Change proportion
Number of R&D personnel
7235105.71%
(person)
Proportion of R&D personnel 18.37% 8.68% 9.69%
Educational background —— —— ——
Undergraduate 32
Masters 2
Other 38
Age composition —— —— ——
Under 30 5
30~4015
Over 40 52
Investment of R&D
2021 2020 Change proportion
Investment for R&D (RMB) 20933712.98 8490882.58 146.54%
R&D investment/Operating
2.76%0.86%1.90%
revenue
Capitalization of R&D
0.000.00
investment (RMB)
Capitalization of R&D
0.00%0.00%0.00%
investment/R&D investment
Reasons and effects of significant changes in composition of the R&D personnel
23深圳南山热电股份有限公司2021年年度报告全文
√Applicable □√ Not applicable
During the reporting period the Company continued to soaring the investment in R&D successfully passed the certification as a
high-tech enterprise which consolidated and improved the core competitiveness of the Company forward.Reasons for significant changes in the proportion of total R&D investment in operating revenue from the previous year
□Applicable √ Not applicable
Reasons and rationality of the major changes of the capitalization rate of R&D investment
□ Applicable √ Not applicable
5. Cash flow
In RMB/CNY
Item 2021 2020 Y-o-y changes (+-)
Subtotal of cash in-flow from
915970557.141156114679.30-20.77%
operation activity
Subtotal of cash out-flow from
955228859.21895389270.286.68%
operation activity
Net cash flow from operation
-39258302.07260725409.02-115.06%
activity
Subtotal of cash in-flow from
85113274.8740321341.78111.09%
investment activity
Subtotal of cash out-flow from
246736667.99528860991.95-53.35%
investment activity
Net cash flow from investment
-161623393.12-488539650.17-66.92%
activity
Subtotal of cash in-flow from
1061074323.801318118917.79-19.50%
financing activity
Subtotal of cash out-flow from
935063124.201096793475.57-14.75%
financing activity
Net cash flow from financing
126011199.60221325442.22-43.07%
activity
Net increased amount of cash
-74996638.62-6888728.75988.69%
and cash equivalent
Main reasons for y-o-y major changes in aspect of relevant data
√Applicable □ Not applicable
1. Net cash flow from operation activity has a declined of 115.06% on a y-o-y basis mainly due to the decrease in gross profit from
power generation in the year and decrease in financial settlement proceeds in power market;
2.The cash in-flow from investment activity has an increase of 111.09% on a y-o-y basis mainly due to the increase in earnings from
24深圳南山热电股份有限公司2021年年度报告全文
financial management during the year;
3. The cash out-flow from investment activity has a declined of 53.35% on a y-o-y basis mainly due to the decrease in expenses for
financial products purchased in the year;
4. Net cash flow from investment activity has a declined of 66.92% on a y-o-y basis mainly due to the decrease in net purchase of
financial products during the year;
5. Net cash flow from financing activity has a declined of 43.07% on a y-o-y basis mainly due to the decrease in net cash inflow from
bank loans during the year;
6. Net increased amount of cash and cash equivalent has a declined of 988.69% on a y-o-y basis mainly due to the fact that increase
in net cash flows from financing activities for the year was smaller than the decrease in net cash flow arising from operating activities
and investment activities.Explanation on reasons for the significant differences between the net cash flow arising from operation activities in the Period and
net profit of last year
√Applicable □ Not applicable
There are 327 million yuan provision for asset impairment in the year and payment of natural gas are settled by bank acceptance.V. Analysis of the non-main business
√Applicable □ Not applicable
In RMB/CNY
Amount Ratio in total profit Note Whether be sustainable (Y/N)
Mainly due to the earnings
Investment income 45981085.44 -9.05% N
from financial management
Provision for fixed assets
provision for inventory
Assets impairment -327479010.92 64.44% depreciation and impairment N
of construction in progress in
the year
Non-operating Mainly due to the reversal of
5261868.99 -1.04% N
income accrual liabilities
Mainly due to the loss on
Non-operating
248216.00 -0.05% retirement of non-current N
expenditure
assets
VI. Assets and liability
1. Major changes of assets composition
In RMB/CNY
Year-end of 2021 Year-begin of 2021 Ratio
Notes of major changes
Amount Ratio in total Amount Ratio in total changes
25深圳南山热电股份有限公司2021年年度报告全文
assets assets (+-)
689604633.5
Monetary fund 24.72% 764601272.21 25.31% -0.59%
9
Account
73610161.022.64%85293052.882.82%-0.18%
receivable
Contractual assets 1040000.00 0.04% 7229600.00 0.24% -0.20%
Inventory 88500991.13 3.17% 100245529.06 3.32% -0.15%
Investment real
2009051.800.07%2205189.400.07%
estate
The long-term equity investment
Long-term equity
6986655.19 0.25% 8893408.86 0.29% -0.04% measured by equity was recognized as
investment
the investment income
643256398.3 Provision for impairment of fixed
Fix assets 23.06% 925745208.55 30.65% -7.59%
0 assets for the year
Provision for impairment of
Construction in
6088768.51 0.22% 42782712.98 1.42% -1.20% construction in progress during the
process
year
858444163.2
Short-term loans 30.77% 675528858.48 22.36% 8.41% Size of short-term loans increased
5
The financial products adjusted to the
Trading financial 632874406.3 item of ‘trading financial assets’ in the
22.68%0.000.00%22.68%
assets 9 year and foreign investment increased
during the year
Account paid in
64415236.66 2.31% 29544788.35 0.98% 1.33% Increase in prepayment for natural gas
advance
The financial products adjusted to the
Other current 331868661.6
11.89% 917288244.54 30.37% -18.48% item of ‘trading financial assets’ in the
assets 2
year
More investment on the investment
Other equity
200615000.0 projects that measured at fair value and
instrument 7.19% 81615000.00 2.70% 4.49%
0 with variation reckoned into other
investment
comprehensive income
135025883.2 Increase in commercial draft and bank
Note payable 4.84% 30467345.48 1.01% 3.83%
7 acceptance
Foreign assets account for a relatively high proportion
□Applicable √Not applicable
2. Assets and liability measured at fair value
√Applicable □ Not applicable
26深圳南山热电股份有限公司2021年年度报告全文
In RMB/CNY
Cumulative
Gain/loss of
change of fair Impairment Amount
Opening fair value Amount sold Other Ending
Item value accrual in the purchased in
amount changes in the in the Period changes amount
recorded into Period the Period
Period
equity
Financial
assets
Trading
financial
assets
72873680.0560000726632874406
(derivative
0.39.39
financial
assets
excluded)
Other equity
119000000.0200615000
instrument 81615000.00
0.00
investment
Total above 191873680. 560000726 833489406
81615000.00
mentioned 00 .39 .39
Financial
0.000.00
liabilities
Other changes
The financial products purchased in the year are calculated under ‘trading financial assets’ instead of ‘other current assets’
Whether there is a significant changes in the measurement attributes of the main assets during the period
□Yes √No
3. Assets right restriction till end of reporting period
There are no assets right restriction till end of the reporting period
VII. Investment analysis
1. Overall situation
√ Applicable □Not applicable
Investment amount at same period last year
Investment amount in the Period (RMB) Changes (+-)
(RMB)
191831197.0021272400.00801.78%
27深圳南山热电股份有限公司2021年年度报告全文
2. The major equity investment obtained in the reporting period
√ Applicable □Not applicable
In RMB/CNY
Invest With
Progres
For Antic ment laws
Investe Shar Capit s as of
Main m of Investm Time ipate gains/ uit Disclos
d ehol al Part the
busin inve ent horiz Type d losses invol ure date Disclosure index (if any)
compan ding sourc ner balance
ess stme amount on inco in the ved (if any)
y ratio e sheet
nt me Perio (Y/N
date
d )
Jiangsu Servi
Liaoyu ce of
Notice on the Investment for
an resou
72873 Jiangsu Liaoyuan
Enviro rce
680.00 Environmental Protection
nmenta utiliz Joint
Yuan Technology Co. Ltd.; Notice
l ation Othe 72873 9.93 Own Long- stock 2021-1
N/A have 0.00 N No.: 2021-055; Disclosure
Protecti techn r 680.00 % fund term comp 1-12
been media: China Securities
on ology any
investe Journal Securities Times Hong
Technol of
d Kong Commercial Daily and
ogy waste
Juchao Website
Co. -wate
Ltd. r
Chin
a
Zhuhai Scie
Hengqi nce
n and
Equit Notice on the Investment for
Zhuozh Tech 14022
y Zhuhai Hengqin Zhuozhi
i Inno Limit 9917.0
invest Capi Investment Partnership (Limited
Invest vatio ed 0 Yuan -550
ment tal 118957 99.9 Own 5-yea 2020-1 Partnership); Notice No.:
ment n partn have 273.2 N
ventu incre 517.00 6% fund r 0-23 2020-051; Disclosure media:
Partner Vent ershi been 0
re ase China Securities Journal
ship ure p investe
capita Securities Times Hong Kong
(Limite Capi d
l Commercial Daily and Juchao
d tal
Website
Partner Man
ship) age
ment
-550
191831
Total -- -- -- -- -- -- -- -- 273.2 -- -- --
197.00
0
28深圳南山热电股份有限公司2021年年度报告全文
3. The major non-equity investment doing in the reporting period
□ Applicable √ Not applicable
4. Financial assets investment
(1) Securities investment
□ Applicable √ Not applicable
The Company had no securities investment in the reporting period.
(2) Derivative investment
□ Applicable √ Not applicable
The Company had no derivatives investment in the reporting period.
5. Use of proceeds
□ Applicable √ Not applicable
The Company had no use of proceeds in the reporting period.VIII. Sales of major assets and equity
1. Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
2. Sales of major equity
□ Applicable √ Not applicable
IX. Analysis of main Holding Company and stock-jointly companies
√Applicable □Not applicable
Particular about main subsidiaries and stock-jointly companies net profit over 10%
In RMB/CNY
Register Operating Operating
Name Type Main business Total assets Net assets Net profit
capital revenue profit
Shenzhen Technology
New Subsidiar development regarding RMB 113.85 530506071. 95388390.5 279902287. -63634828. -63634828.Power y to application of million 75 8 61 14 14
Industrial remaining heat
29深圳南山热电股份有限公司2021年年度报告全文
Co. Ltd. (excluding restricted
items) and power
generation with
remaining heat. Add:
power generation
through burning
machines.Sludge drying; the
design and operations
management of sludge
treatment and disposal
facilities and
engineering; the
technology
development
technology transfer
technical advice
Shenzhen technical services of
Shen Nan environmental
Dian pollution control and
Subsidiar RMB 79
Environm comprehensive
69312563.052067932.5-69977943.-70083714.
3412263.75
y million
ent utilization domain;
687950
Protection (Except for the projects
required to be
Co. Ltd.approved before
registration by laws
administrative
regulations or
decisions and
stipulation of the State
Council the restricted
items must be
approved before
operating)
Engage in the technical
advisory service for the
Shenzhen
construction projects of
Shennandi
gas-steam combined
an Turbine
Subsidiar cycle power plant RMB 10 53112551.6 38988381.2 43685185.4
Engineerin 1541455.25 1504549.25
y (station) and undertake million 1 0 3
g
the maintenance and
Technolog
overhaul of the
y Co. Ltd.operation equipment of
gas-steam combined
30深圳南山热电股份有限公司2021年年度报告全文
cycle power plant
(station). Import and
export of goods and
technologies
(excluding distribution
and state monopoly
commodities)
Self-supporting or
import agent business
of fuel oil; trade
(excluding production
and storage and
transportation) in
diesel lubricating oil
liquefied petroleum
gas natural gas
compressed gas and
liquefied gas chemical
products (excluding
dangerous chemicals);
investment
construction and
Shenzhen technical supports in
Server liquefied petroleum
Petrochem gas natural gas and Subsidiar RMB 53.3 101091770. 83475727.2 -11476837. -7601325.8
ical related facilities;
1196857.16
y million 98 7 56 5
Supplying import and export
businesses and
Co. Ltd
domestic trade of
goods and technologies
(excluding franchise
exclusive control and
monopoly products);
leasing business.Licensed projects: fuel
oil warehousing
business (except for
refined oil); general
freight transport
special transportation
of goods (containers)
special transportation
of goods (tank)
Gas turbine power
Shen Nan Subsidiar RMB 746.8 263698889. -389404220 124646010. -331008024 -330756155
31深圳南山热电股份有限公司2021年年度报告全文
Dian generation waste heat y million 43 .60 22 .46 .47
(Zhongsha power generation
n) Electric power supply and
heating(heating pipe
Power
network excluded)
Co. Ltd.leasing of wharf oil
depots and power
equipment felicities
(excluding refined oil
dangerous chemicals
or flammable and
explosive goods);
leasing of land-use
right; non-residential
real estate leasing
Shen Nan
Agent for oils trade
Energy Subsidiar US $ 0.9 and spare parts of gas 102739424. 100231032. -35387913. -35433131.
0.00
(Singapore y million 81 52 66 24
turbine
) Co. Ltd.Zhuhai
Hengqin
Zhuozhi
Investmen RMB
Subsidiar Equity investment 140290150. 140290150.t 140.918 0.00 -550273.10 -550273.10
y venture capital 23 23
Partnershi million
p (Limited
Partnershi
p)
Subsidiary disposes and acquired in the period
□Applicable √ Not applicable
Information on main holding company and stock-jointly companies
X. Structured vehicle controlled by the Company
□ Applicable √ Not applicable
XI. Future Development Prospects
(i) Brief analysis of macroeconomic situation and industry trend
In accordance with the spirit of the Notice of Energy Bureau of Guangdong Province on Doing a Good Job in the Annual Transaction
of Electricity Market in 2022 (YNDLH (2021) No. 582) and the Notice of Energy Bureau of Guangdong Province and South China
Energy Regulatory Office of National Energy Administration on the Relevant Matters of the Electricity Market Transactions in 2022
(YNDL (2021) No. 110) in 2022 Guangdong's electricity market is about 550 billion kilowatt-hours the annual transaction scale of
32深圳南山热电股份有限公司2021年年度报告全文
which is 315 billion kilowatt-hours. In 2022 all the on-grid electricity of coal-fired power plants in the province will enter the power
market all provincial-level dispatching and above gas-fired power plants will enter the power market and the prefecture-level
dispatching gas-fired power plants can choose by themselves but are not allowed to quit once entered. All units of Ling’ao and
Yangjiang Nuclear Power Plants enter the market and directly participate in electricity market transactions. In addition coal-fired
and gas-fired units entering the power market will no longer arrange the base electricity and will be replaced by the electricity
purchased on behalf of the units. However the electricity purchased on behalf of the units will no longer be subject to the on-grid
price approved by the government but will be settled according to the monthly weighted comprehensive price of the power market.In principle starting from January 1 2022 the electricity spot market in the south (starting from Guangdong) will enter the trial
operation of continuous settlement throughout the year and make rolling revisions to the spot implementation plan and market
trading rules as needed and improve technical support system according to the method of "running and improving at the same time".In 2022 under the influence of various factors the power generation situation of 9E units in Guangdong province is still severe and
the production and operation of the company's two 9E gas turbine power plants will face enormous pressure and challenges. Firstly
it is estimated that the new generating unit capacity will be 8.685 kilowatts in 2022 and 9E gas turbine has no advantage in
competition with large-capacity and high-efficiency units. Secondly the trading system restrains the proportion of medium and long
term electric quantity and actual market electric quantity which reduces the possibility of a large proportion of excess electric
quantity when the clearing income is large. Thirdly the continuous high price of natural gas will inevitably make it difficult for gas
turbine power plants to make profits.(ii) Summary of the company's 2022 annual business plan
The year 2022 is an important year for China to embark on a new journey to fully build a modern socialist country and is also a
critical year for the transformation and development of Shenzhen Nanshan Power. The company will closely follow the national
"14th Five-Year Plan" development planning and strategy layout accelerate the establishment of new development pattern and
promote the strategic transformation and high-quality development of the company on the basis of conscientiously doing a good job
in the safety production and operation of the main business of electric power. In 2022 the company will unswervingly take the "1+5"
strategic roadmap as the guide take the annual work "226" project as the goal strive for progress through stability and promote
stability through progress and go all out to do a good job in various tasks:
1. Adhere to the leadership of party building and continue to enhance the core role of party organization in leadership. In 2022 the
Communist Party of China will start a new journey towards the second centenary goal the company will continue to adhere to the
th
guidance of party building focus on studying and implementing the spirit of the Sixth Plenary Session of the 19 CPC Central
Committee consolidate and expand the achievements of party history study and education solidly carry out the construction of the
theme style and continue to strengthen the "three important and one big" collective decision-making mechanism translate theory
into guidelines for corporate governance production operations and transformation development realize the party building work to
lead the central work and constantly enhance the core leadership role of the party organization in corporate governance.
2. Adhere to standardized operation and constantly improve the level of corporate governance. In strict accordance with the Company
Law Securities Law Listing Rules of Shenzhen Stock Exchange and other relevant laws and regulations and the requirements of the
normative documents do a good job in information disclosure based on the principles of "truth accuracy completeness timeliness
and fairness" do a good job in the management of the three meetings on the premise of standardized operation do a good job in the
management of investor relations in accordance with laws and regulations ensure the standardized operation of corporate governance
production and operation and promote the improvement of corporate governance level.
33深圳南山热电股份有限公司2021年年度报告全文
3. Adhere to safe production and continue to strengthen internal management and internal control. According to the new annual
business objectives we will pay close attention to safety production stock management and industrial upgrading strengthen internal
management and go all out to complete the annual work arrangement. In terms of internal control construction we will continue to
improve the internal control system construction strengthen the internal control management strictly follow the relevant regulations
and combine the actual situation further improve the internal control system construction optimize the company's business process
strengthen the implementation of the internal control management system and promote and improve the company's operat ion
management level and management efficiency and enhance the risk prevention ability of the enterprise.
4. With the aim of maximizing the company's interests conduct land resource operation and management in accordance with laws
and regulations. Closely track and study Qianhai regional planning and relevant polic ies maintain communication with relevant
functional departments in Shenzhen and Shenzhen Qianhai Authority and strive to adjust the planning and positioning of the land
where Nanshan Power Factory is located in a direction that is beneficial to the company; at the same time actively seize the
development opportunities of the Shenzhen-Zhongshan Channel fully revitalize the land resources of Shen Nan Dian Zhongshan
Company and strive for the implementation of new projects and new production capacity. With the participation and cooperation of
legal advisors the company will carry out various tasks in accordance with the standardized requirements of listed companies and
fulfill the necessary decision-making approval procedures and information disclosure obligations to maximize the protection of the
company and all shareholders' interests and the legitimate rights and interests of employees.
5. Aiming at early transformation and development actively and steadily promoting the industrial upgrading. According to the
annual work arrangement of “226” project the Company will adhere to the two concepts of safety-first and steady-oriented based on
stock assets and resources start a new engine for industrial upgrading and transformation and make great efforts to promote the
demonstration and landing of new production capacity and new projects with a steady progress and strive to accomplish the
transformation development at an early date.
6. Take the continuous promotion of management innovation as the starting point and improve management efficiency and talent
quality in all respects. Continue to deepen the reform of human resources adhering to the employment orientation of ‘revolutionary
professional and youthful’ further optimize the allocation of human resources and prepare the management layout for the company's
transformation and development in advance. Focus on training a group of young talents with high comprehensive quality high
educational background professional domain knowledge and rich working experience and build a young and professional team of
compound management cadres to reserve management talents for new projects and new industries and to escort the company's
strategic transformation and long-term development.The business plan and related situation analysis described in this report do not constitute the company’s performance commitment to
investors. The company reminds investors to maintain sufficient risk awareness and understand the difference between business plan
and performance commitment and make prudent investment decision making.(iii) Possible main risks and countermeasures
In terms of main business: in 2021 affected by multiple factors the company's two subordinate power plants faced huge pressure
from the continuous rise in fuel prices and the surge in guaranteed power supply. With the continuous promotion and deepening of
electricity market transactions in Guangdong province the company's main business operation situation is more serious under the
situation of long-term spot trial settlement operation. The company will continue to strengthen the operation and management of
stock assets actively respond to the requirements and changes of the power market and do its best to improve the profitability of its
main business and overall operating efficiency. At the same time the company will actively explore diversified business mode ls and
34深圳南山热电股份有限公司2021年年度报告全文
opportunities for transformation and development to create better conditions for the company's sustainable operation and healthy
development.
2. In terms of safety management: under the market-oriented power production model power plants will face more flexible dispatch
methods and stricter assessment policies which put forward higher requirements for the operation and maintenance of existing aging
power generation equipment. The company will formulate scientific and reasonable maintenance and technical transformation plans
invest corresponding capital and technical strength continue to improve the maintenance and management level of equipment and
implement the main responsibility for safe production so as to ensure the safe and stable operation of production facilities. At the
same time it will further strengthen the work of epidemic prevention and control production safety network information sec urity
and emergency response to ensure that no security accidents occur in the company's system and continue to play the supporting role
of the main peak shaving power point.
3. In terms of fuel procurement: in 2022 the company's natural gas purchase price will mainly depend on the changing trend of the
natural gas market and the sales prices of existing suppliers. In 2021 due to factors such as global economic recovery increased
demand caused by extreme weather and low inventories sharp decline in green energy power generation output and the clearing of
some power generation capacity due to the COVID-19 pandemic the global natural gas supply was tight and price shot up. In 2022
with the outbreak of the war between Russia and Ukraine bulk commodity prices have soared and the natural gas supply is more
tight than expected. It is estimated that the company's natural gas procurement cost in 2022 will not be optimistic. In addition with
the continuous advancement of the market-oriented reform of electricity trading in Guangdong Province the company's planned
power generation will be difficult to match with the actual power generation resulting in a larger discrepancy between the planned
and actual purchases of natural gas. As the natural gas purchase contract must be signed in advance the contracted gas volume has
been basically determined at the time of signing. If we cannot take delivery of the gas as agreed due to factors such as the
marketization of electricity transactions in the later period there may be risks of taking delivery of less gas than the con tracted gas
volume. The company will continue to optimize the upstream and downstream partnerships give full play to the adjustment function
of multiple gas sources and make every effort to reduce the cost of natural gas procurement while ensuring the gas demand for
electricity production.
4. Land of Nanshan Power Factory: In December 2021 the company learned about the Notice of Shenzhen Municipal Bureau of
Planning and Natural Resources on Printing and Distributing the "Urban Renewal and Land Preparation P lan of Shenzhen City in
2021" from the Shenzhen Government's website which still included the land purchase and storage of the company's Nanshan Power
Factory and related content. Although the company actively used various opportunities to express its demands and suggestions as of
the end of the reporting period it still had little effect. The Company will closely maintain communication with the relevant
functional departments of Shenzhen and Shenzhen Qianhai Authority actively follow up the progress of the implementation of
relevant government plans and work closely with legal counsel to study the related situation of the land of Nanshan Power Factory
study and formulate coping strategies and work plans and do their best to safeguard the legitimate rights and interests of l isted
company and all shareholders.Investors are advised to pay attention to the above-mentioned major risks and other risks that the Company may face and make
rational investment decisions prudently.
35深圳南山热电股份有限公司2021年年度报告全文
XII. Reception of research communication and interview during the reporting period
√Applicable □ Not applicable
Main contents of
the discussion Basic situation index of
Time Location Way Type Reception target
and information investigation
provided
Attend the
general meeting
and inquiry of
Office from the Individual (23 Received according to
Jan.-Dec. 2021 Field visit Individual register of
headquarters person-time) the laws and regulations
members
(shareholders)
etc.Query the
number of
shareholders as
about the future
development
direction of the
Interactive Individual (88
Jan.-Dec. 2021 Written inquiry Individual Company Rely in written timely
platform person-time)
progress of the
investment items
and lands with
Nanshan Power
Factory
concerned
Inquire and
communicate the
Company’s
performance
market
Individual
performance the Reply according to the
Jan.-Dec. 2021 Telephoning Telephoning Individual (dozens of
lands of laws and regulations
times)
Nanshan Power
Factory and
progress of the
investment items
etc.
36深圳南山热电股份有限公司2021年年度报告全文
Section IV. Corporate Governance
I. Corporate governance of the Company
During the reporting period in accordance with guideline of Company Law Securities Law Corporate Governance Guidelines
Stock Listing Rules and administrative regulations other regulatory documents and requirements of Articles of Associations and
rules of procedures constantly optimized the corporate governance structure maintained sound modern enterprise management
system improve governance and standardization meticulous management and effectively protected the interests and legitimate rights
of listed companies investors and employees.
1. Shareholders' meeting: the Company holds the shareholders general meeting in strict accordance with the legal procedures and to
ensure that the shareholders exercise their rights in accordance with the law. During the reporting period the Company held one
regular shareholders’ meeting and three extraordinary shareholders meeting to carefully deliberate and decide on issues which were
submitted to the general shareholders’ meeting for approval. The convening of the shareholders’ meeting was legal and all
decision-making processes were open fair and just. The qualifications and proposals of the attendees met the requirements of laws
and regulations and the resolutions of the shareholders' general meeting were disclosed in a timely manner after the meeting which
effectively protected all shareholders from exercising their right to know and vote on major issues of the Company in accorda nce
with the law. Shareholders of the Company earnestly fulfilled their responsibilities under the Company Law and Articles of
Association there were no large shareholders and related parties who occupied or transferred the Company's funds assets and other
resources with various forms.
2. Board of Directors: The Company's board of directors adhered to standardized operation and management took various measures
to strengthen its own construction and improved the board's standardized operation and scientific decision-making level. In the
report period the Board of Directors of the Company held three regular meetings and seven extraordinary meetings to carefully
research deliberate and make decisions on significant matters within the rights of board of directors. Four special committees under
the Board of Directors the Strategy and Investment Committee Audit Committee Nomination Committee as well as Remuneration
and Appraisal Committee are carefully deliberated relevant proposals and giving opinions and suggestions . The full use of the active
role of the special committees in major investment decisions important personnel adjustments standardized salary management
internal audit and risk control has effectively ensured the scientific nature of the Company's decisions and the normalization of
management. Independent directors played their professional advantages upheld the objective and independent principle and
conscientiously performed their duties and paid attention to the interests of the Company as a whole and those the shareholders of
the Company especially the legitimate interests of minority shareholders. They issued independent opinions on resolutions and
brought forward constructive comments and suggestions on the Company’s standardized operation and risk prevention.
3. Supervisory Committee: pursuit to relevant rules of laws and regulations supervisory committee of the Company perform the
supervision responsibility in line with to the Company and shareholders responsible manner. During the reporting period the
Supervisory Committee of the Board held three regular meetings and four extraordinary meetings effectively supervised the
day-to-day operations of the board of directors the Company's financial status operating conditions financial investment and the
legality and compliance of directors and senior management in performing their duties independently issued opinions and
effectively protected the legitimate rights and interests of the Company and shareholders especially the small and medium
shareholders. At the same time the board of supervisors extended the connotation of supervision and standardized operation and risk
prevention to daily operations the board of supervisors also learned about the Company's operations and management by attend ing
37深圳南山热电股份有限公司2021年年度报告全文
the shareholders' meetings and attending the board meetings and organizing on-site inspections on the Company's subsidiaries to
better understand the Company's operations and management so as to better perform supervisory duties.
4. Manager Office: During the reporting period the Company's managers strictly implemented various decisions of the shareholders'
meeting and the board of directors in accordance with the requirements of relevant laws and regulations and the Company's Articles
of Association and other regulatory documents and actively organized the Company's various production operation and management
tasks constantly improved the office conference system and internal control system continued to optimize work processes and
decision-making procedures built a harmonious and aggressive corporate culture atmosphere followed the work principle of
reasonable division of labor and enhanced cooperation and the purpose of collective decision-making on major issues and
continuously improved the Company's management level and strive to achieved better business performance.
5. Major information confidentiality : In strict accordance with the regulations and requirement of Rules Governing the Listing of
Stocks and Insiders Registration System to standardize the confidentiality of inside information and submit the inside information
list in strict accordance with relevant regulations kindly reminded the insider information to strictly comply with the rela ted
regulations on insider information confidentiality and stocks trading of the Company before the convening of the meetings of general
shareholders board of directors and supervisory board. There were no significant information disclosures within the reportin g period.There were no significant information disclosures within the reporting period. During the reporting period the Company did not
provide undisclosed information to large shareholders in violation of information disclosure requirements.
6. Information disclosure and investor relations management: During the reporting period in strict accordance with the requirement
of relevant laws regulations and normative documents as Company Law Rules Governing the Listing of Stocks and Management
Mechanism of the Information Disclosure conscientiously fulfill the obligation of information disclosure and disclosed the periodic
and Ad-hoc Reports in a timely and fair manner to whole shareholders on China Securities Journal Securities Times Hong Kong
Commercial Daily and Juchao Website with truthfulness accuracy and completeness contents. In 2021 the Company completed the
preparation and disclosure of periodic reports and interim announcements on schedule a total of 60 announcements were issued
throughout the year strive to give investors a complete picture of the Company’s produce operation governance and significant
matters. The Company strictly complied with the requirements of the "Company Investor Relations Management Work System" and
did a good job in investor relations management. In addition to the on-site visit reception it also used the Company's mailbox
investor phone line and the irm.cninfo.com.cn of Shenzhen Stock Exchange the smooth communication channels with investors
enabled investors to have a more comprehensive in-depth and objective understanding of the Company.
7. Internal control and standardized management: During the reporting period in order to better meet the company's needs for
standardized governance and efficient operation in accordance with the requirement of relevant laws regulations and normative
documents combine with actual condition of the Company to established and completed the management mechanism and working
procedure matching the innovation management mode timely to ensure an efficient decision-making and standardization of the
business operation. The Company carried out special audit work on internal control self-evaluation and internal regular audit and
took active and effective measures to improve existing problems and deficiencies. Strengthened the training and ideological
education of directors supervisors senior officers personnel and middle-level management cadres at all levels and emphasized the
performance of duties according to law standardized the words and deeds and fought against corruption. The company has been
striving to prevent business management risks by continuously improving the internal control system increasing the assessment and
rewards and punishments and further improving the standardization of management.
8. Self-examination and continuous improvement of corporate governance: in accordance with the spirit of the "Opinions of the State
38深圳南山热电股份有限公司2021年年度报告全文
Council on Further Improving the Quality of Listed Companies" and the "Notice of the Shenzhen Securities Regulatory Bureau on
Promoting the Implementation of Main Responsibilities of Listed Companies in the Jurisdictional Area to Improve Governance and
Achieve High-Quality Development" and other documents and the relevant requirements of Shenzhen Securities Regulatory Bureau
the company carried out a self-inspection of the governance situation and formed a "Self-inspection Report on the Quality of
Corporate Governance" which was submitted to the Shenzhen Securities Regulatory Bureau within the specified time and in
accordance with the requirements on February 1 2021 the "Self-inspection Report on the Quality of Corporate Governance" has
been submitted to the sixteenth extraordinary meeting of the company's eighth board of directors for deliberation. In accordance with
the spirit of the China Securities Regulatory Commission's "Announcement on Launching Special Actions on the Governance of
Listed Companies" and the requirements of the Shenzhen Securities Regulatory Bureau the company has initiated relevant work and
completed on schedule during the reporting period.Is there any difference between the actual condition of corporate governance and relevant regulations about corporate governance for
listed Company from CSRC?
□Yes √ No
There are no differences between the actual condition of corporate governance and relevant regulations about corporate governance
for listed Company from CSRC.II. Independence of the Company relative to controlling shareholder and the actual controller
in ensuring the Company’s assets personnel finance organization and businesses
The Company has not controlling shareholder. The Company is completely independent in personnel assets finance business a nd
institutions and is able to make independent decision and operations.
1. Personnel independence: The Company has set up an independent human resource management system and compensation &
benefits systems. All members of the management level and senior officers are full-time executives and are paid remuneration by the
Company and none of them takes any administrative positions other than director and supervisor in shareholders units. Within the
amount approved by the Board the Company independently hires or fires employees according to the management needs. The
Company has established a more perfect human resources management system and has an independent management right.
2. Assets independence: the Company has independent production facilities and auxiliary systems land use rights property rights
office facilities and equipment. Within the range authorized by the board of directors and general shareholders’ meeting the
Company has the powers of independent acquisition and disposition of assets.
3. Financial independence: The Company has independent financial management and accounting system is equipped with
independent financial management and accounting personnel and establishes a relatively sound financial management system
independent bank account and tax accounts. Within the range authorized by the board of directors and shareholders’ meeting the
Company can made independent financial decision and there are no substantial shareholders with financial management interference
embezzlement of funds and other circumstances.
4. Business independence: the Company independently carries out production and business activities has set up independent and
complete production procurement sales channels and management system. Within the range authorized by the board of directors and
shareholders’ meeting the Company makes its own management decisions carries out self management and takes full
responsibilities for its own profits and losses.
5. Independent organization: The Company in accordance with the needs of production operation management followed modern
39深圳南山热电股份有限公司2021年年度报告全文
enterprise management standards and established a relatively sound organization and management structure. There were neither
interference of shareholders in the establishment and operation of the neither Company nor organization structure shared between
shareholders and the Company.III. Horizontal competition
□ Applicable √ Not applicable
IV. In the report period the Company held annual shareholders’ general meeting and
extraordinary shareholders’ general meeting
1. Annual Shareholders’ General Meeting in the report period
Ratio of
investor Date of
Session of meeting Type Date
participat disclosure Meeting resolutions
ion
Deliberated and approved proposals including:
Amendment of the Article of Association of Shenzhen
Nanshan Power Co. Ltd.; Amendment of the Rules of
First extraordinary Extraordinary Procedure for Shareholders General Meeting of
February 19 February 19
shareholders’ general shareholders’ 39.27% Shenzhen Nanshan Power Co. Ltd.; Amendment of
20212021
meeting of 2021 general meeting the Rules of Procedure for Board of Directors of
Shenzhen Nanshan Power Co. Ltd. and Amendment
of the Rules of Procedure for Board of Supervisory of
Shenzhen Nanshan Power Co. Ltd.Deliberated and approved proposals including: Report
on the Work of BOD for year of 2020; Report on the
Work of BOS for year of 2020; Financial Report for
year of 2020; Profit Distribution P lan for year of
Annual General April 16 April 16 2020; Annual Report of 2020 (full-text) and its
AGM 39.20%
Meeting of 2020 2021 2021 Summary; Guarantee Provided by the Company for
its Controlling Subsidiary in 2021; Appointment of
Auditing Institution for year of 2021 and
Remuneration Determination; Remuneration of the
Chairman for year of 2021
Second Deliberated and approved 12 proposals related to the
Extraordinary
extraordinary April 26 April 26 renewal of the Company including Election of Mr. Li
shareholders’ 39.19%
th
shareholders’ general 2021 2021 Xinwei as the Non-independent Director of the 9
general meeting
meeting of 2021 BOD of the Company
Third Extraordinary Deliberated and approved the Proposal to Re-elected
September September
extraordinary shareholders’ 39.18%
th
Some Non-independent Director of 9 BOD of the
132021132021
shareholders’ general general meeting Company; Proposal on Purchasing Wealth
40深圳南山热电股份有限公司2021年年度报告全文
meeting of 2021 Management products with Idle Own Funds
2. Request for extraordinary general meeting by preferred stockholders whose voting rights restore
□ Applicable √ Not applicable
V. Directors supervisors and senior officers
1. Basic information
Numb Numb
er of er of Reaso
Number
Shares shares shares Other Shares ns for
of
Worki Start dated End date held at Stock increa decrea chang held at increa
restricted
Name Title ng Sex Age of office of office period- option sed in sed in es period- se or
shares
status term term begin s this this (share end decrea
granted
(share) period period ) (share) se of
(share)
(share (share shares
))
Curre
Li August 28 April 26
Chairman ntly in M 56 0 0 0 0 0 0 0
Xinwei 2017 2024
office
Curre
Hu Vice September April 26
ntly in M 51 0 0 0 0 0 0 0
Ming chairman 13 2021 2024
office
Huang Vice Leave April 26 August
M 41 0 0 0 0 0 0 0
Bangxin chairman office 2021 20 2021
Li
Vice Leave January 13 April 26
Hongshe M 58 0 0 0 0 0 0 0
chairman office 2011 2021
ng
Curre
Huang June 3 April 26
Director ntly in M 50 0 0 0 0 0 0 0
Qing 2019 2024
office
Curre
August 28 April 26
Director ntly in M 56 0 0 0 0 0 0 0
20172024
Chen office
Yuhui Curre
August 11 April 26
GM ntly in M 56 0 0 0 0 0 0 0
20172024
office
Curre
Wu April 25 April 26
Director ntly in M 56 0 0 0 0 0 0 0
Guowen 2016 2024
office
41深圳南山热电股份有限公司2021年年度报告全文
Standing Curre
April 1 April 26
Deputy ntly in M 56 0 0 0 0 0 0 0
20162024
GM office
Curre
Sun April 26 April 26
Director ntly in M 38 0 0 0 0 0 0 0
Huirong 2021 2024
office
Li Leave June 3 April 26
Director M 42 0 0 0 0 0 0 0
Wenying office 2019 2021
Curre
Mo Independe November November
ntly in M 55 0 0 0 0 0 0 0
Jianmin nt director 17 2017 17 2023
office
Curre
Chen Independe November November
ntly in M 51 0 0 0 0 0 0 0
Zetong nt director 17 2017 17 2023
office
Curre
Independe November April 26
Du Wei ntly in M 66 0 0 0 0 0 0 0
nt director 11 2019 2024
office
Chairman
Curre
Ye of November April 26
ntly in M 58 0 0 0 0 0 0 0
Qiliang supervisor 17 2017 2024
office
y board
Curre
Li April 26 April 26
Supervisor ntly in M 43 0 0 0 0 0 0 0
Caijun 2021 2024
office
Li Leave June 3 April 26
Supervisor M 41 0 0 0 0 0 0 0
Zhiwei office 2019 2021
Curre
Liao June 3 April 26
Supervisor ntly in M 33 0 0 0 0 0 0 0
Junkai 2019 2024
office
Employee
Curre
Qian representat April 26 April 26
ntly in M 53 0 0 0 0 0 0 0
Wenhui ive 2021 2024
office
supervisor
Employee
Curre
representat April 26 April 26
Lu Yindi ntly in F 39 0 0 0 0 0 0 0
ive 2021 2024
office
supervisor
Liang Employee
Leave November April 26
Jianqian representat M 53 0 0 0 0 0 0 0
office 12 2014 2021
g ive
42深圳南山热电股份有限公司2021年年度报告全文
supervisor
Employee
representat Leave November April 26
Peng Bo M 48 1527 0 0 0 0 0 1527
ive office 17 2017 2021
supervisor
Curre
Deputy December April 26
ntly in F 53
GM 30 2006 2024
Zhang office
173250000017325
Jie Secretary
Leave December April 26
of the F 53
office 23 2015 2021
Board
Secretary Curre
April 26 April 26
Zou Yi of the ntly in M 48 0 0 0 0 0 0 0
20212024
Board office
Leave November March 30
Dai Xiji CFO M 52 0 0 0 0 0 0 0
office 17 2017 2021
Total -- -- -- -- -- -- 18852 0 0 0 0 0 18852 --
During the reporting period whether there was any departure of directors and supervisors and dismissal of Senior Officers
√ Yes □ No
On 19 August 2021 BOD of the Company received a written resignation report from Director and Deputy Chairman of the Company
th
Mr. Huang Bangxin. Mr. Huang resigned as Director and Deputy Chairman of the 9 BOD of the Company due to work reasons; and
at end of March 2021 BOD received a written resignation report from CFO of the Company Mr. Dai Xiji Mr. Dai resigned as CFO
of the Company for work reasons.Changes of directors supervisors and senior officers
√Applicable □ Not applicable
Name Title Type Date Reason
Leaving at the
Li Hongsheng Vice chairman end of the term April 26 2021
of office
Huang Bangxin Vice chairman Be elected April 26 2021
Huang Bangxin Vice chairman Leave office August 20 2021 Job changes
Hu Ming Vice chairman Be elected September 13 2021
Leaving at the
Li Wenying Director end of the term April 26 2021
of office
Sun Huirong Director Be elected April 26 2021
Leaving at the
Li Zhiwei Supervisor April 26 2021
end of the term
43深圳南山热电股份有限公司2021年年度报告全文
of office
Li Caijun Supervisor Be elected April 26 2021
Leaving at the
Employee
Liang Jianqiang end of the term April 26 2021
supervisor
of office
Leaving at the
Employee
Peng Bo end of the term April 26 2021
supervisor
of office
Employee
Qian Wenhui Be elected April 26 2021
supervisor
Employee
Lu Yindi Be elected April 26 2021
supervisor
Dai Xiji CFO Leave office March 30 2021 Job changes
Secretary of the
Zou Yi Be elected April 26 2021
Board
Leaving at the
Secretary of the
Zhang Jie end of the term April 26 2021
Board
of office
2. Post-holding
Professional background major working experience and present main responsibilities in Company of directors supervisors and
senior officers at the present
Mr. Li Xinwei was born in 1965 communist party member a senior accountant a postgraduate of Xiamen University and a master
of business administration. From 1984 to 1992 he held the post of director of the accounting department of Guangdong Nuclear
Power Joint Venture Co. Ltd.; from 1992 to 2006 he served as the financial manager of Shenzhen Worldsun Enterprises Co. Ltd.and he served as the director of finance department of Shenzhen Mawan Power Co. Ltd. the chief accountant and the director of
finance department of Shenzhen Energy Group Power Generation Branch the deputy director of capital office of Shenzhen Energy
Group Co. Ltd. (at ministerial level) the director and deputy general manager of Shenzhen Mawan Power Co. Ltd.; from 2004 to
2006 he also served as the chairman of Huizhou City Gas Development Co. Ltd.; from 2006 to August 2017 he held the post of
managing director of Shenzhen Energy Finance Co. Ltd. he also holds the post of chairman of Sichuan Shenzhen Energy Power
Investment Holding Co. Ltd. from 2015 to October 2018; and he has held the post of chairman and director of the Company since
August 2017 since July 2018 he has been the secretary of party general branch and secretary of the party committee of the company
now served as director of Shenzhen Energy Group Co. Ltd. cha irman of Shenzhen Shen Nan Dian Environment Protection Co. Ltd.and chairman of Shenzhen Shennandian Turbine Engineering Technology Co. Ltd.Mr. Hu Ming born in 1970 a member of China National Democratic Construction Association master and senior engineer. From
March 2003 to December 2019 he worked at the Housing and Construction Bureau and Auditing Bureau of Nanshan District. From
January 2020 to August 2021 he worked as managing director of Shenzhen Dashahe Construction Investment Co. Ltd. and
managing director of Shenzhen Nanshan Anju Construction Development Co. Ltd. Since September 2021 he acts as the managing
director of Shenzhen Guangju Energy Co.Ltd. and he acts as the vice president of the company since September 2021.
44深圳南山热电股份有限公司2021年年度报告全文
Mr. Huang Qing born in 1971 communist party member intermediate economist master of economics graduated from Wuhan
University with a major in national economic planning and management. He successively served as a staff member deputy chief staff
member and a chief staff member of the General Office of Shenzhen Municipal Government deputy chief of the General Office of
Shenzhen Municipal Government chief of the General Office of Shenzhen Municipal Government deputy departmental-level
secretary of the General Office of Shanxi Provincial Government deputy director of Shanxi Provincial Government's Guangzhou
Office and a member of the Party Group. He currently serves as deputy general manager of Shenzhen Capital Holding Co. Ltd.concurrently serves as director and president of Guangzhou NasSoft Information Technology Co. Ltd. director of Shenzhen Energy
Group Co. Ltd. director and vice president of Shenzhen Water Investment Co. Ltd. director of Shenzhen HTI Group Co. Ltd.director of Xiong'an Lvyan Zhiku Co. Ltd. director of Shenzhen Institute of Building Research Co. Ltd. supervisor of Shenzhen
Yixin Investment Co. Ltd. and the director of Shum Yip Investment Development Co. Ltd .; and he serves as the director of the
Company since June 2019.Mr. Chen Yuhui was born in 1965 communist party member a senior engineer graduated from Shanghai Jiao Tong University and
obtained a bachelor's degree in marine power and a master's degree in vibration shock & noise (postgraduate degree). In 1989 he
worked in the maintenance department of Shenyang Liming Gas Turbine Co. Ltd.; from December 1989 to June 2006 he worked in
Shenzhen Energy Group Yueliangwan Power Plant and successively held the posts of chief-operator of operation department
specialist engineer of general office deputy director of maintenance department factory deputy manager factory manager etc.; from
June 2006 to July 2014 he worked in Shenzhen Energy East Power Plant and held the posts of deputy general manager and operat ion
director; from August 2017 to present he served as the chairman general manager from May 2019 to present he has been the
deputy secretary of the party committee of the company and the chairman of Shen Nan Dian (Zhongshan) Electric Power Co. Ltd.Mr. Wu Guowen born in 1965 an undergraduate He worked in Shenzhen Guangju Energy Co. Ltd. since 1994; and worked in
Shenzhen Yisheng Liquid Storage Co. Ltd. from 2008 to November 2010 and served as deputy GM; he works in Shenzhen Guangju
Real Estate Co. Ltd. From December 2010 to March 2016 and successively appointed as standing deputy GM legal representative
executive director and GM; serves as staff supervisor in Shenzhen Guangju Energy Co. Ltd. from August 2013 to March 2018 he
serves as chairman of Shenzhen Server Petrochemical Supplying Co. Ltd. from March 2018 to September 2021 he serves as director
standing deputy GM of the Company since April 2016.Mr. Sun Huirong born in 1983 a member of the Communist Party of China master degree intermediate engineer title. He used to
be a senior staff member and project leader of Shenzhen Geotechnical Investigation & Surveying Institute (Group) Co. Ltd. the
investment director of Shenzhen Deep Share China Investment Management Co. Ltd. and the senior manager and deputy section
head of research department and the deputy director of strategic research and M&A department of Shenzhen Capital Holdings Co.Ltd.. He serves as the director of asset management department of Shenzhen Capital Holdings Co. Lt d.and serves as a director of
the company since April 2021.Mr. Mo Jianmin was born in 1966 a China Certified Public Accountant graduated from School of Law of Nanchang University.From March 1985 to October 1996 he worked at Tonggu County Taxation Bureau of Jiangxi Province and Local Taxation Bureau of
Tonggu County; from November 1996 to October 1999 he worked at Shenzhen Tongren Certified Public Accountants; from October
1999 to March 2001 he worked at Zhongtianqin Certified Public Accountants; from April 2001 to December 2003 worked at
Shenzhen Languang Enterprise Group; from January 2004 to December 2010 he worked at Shenzhen Jinniu Accounting Firm; from
January 2011 to October 2012 he was appointed as a partner of Jonten Certified Public Accountants Shenzhen Branch; from
November 2012 to May 2014 he served as a partner of Beijing Yongtuo Certified Public Accountants; he has served as a partner of
Da Hua Certified Public Accountants since June 2014. He also serves as independent director of Shenzhen Kunpeng Holdings Co.Ltd. independent director of Shenzhen Zhuolineng Technology Co. Ltd. and executive director of Shenzhen Yishanghui Investment
45深圳南山热电股份有限公司2021年年度报告全文
Co. Ltd. He serves as independent director of the Company since Nov. 2017.Mr. Chen Zetong was born in 1970 a bachelor of laws at Southwest University of Political Science and Law a master of laws at the
University of Hong Kong a doctor of laws at Jilin University. From 1994 to 2003 he served as a court clerk assistant judge and
judge at the Real Estate Trial Division of Shenzhen Intermediate People's Court; from 2003 to 2006 he served as the presiding judge
at the Economic Trial Division; from July to August 2002 he practiced as a judicial assistant in the High Court of Hong Kong ; from
2006 to 2010 he served as the deputy presiding judge at the seventh court of Shenzhen Intermediate People's Court (Corporate
Liquidation and Bankruptcy Trial Division) and presided over the work of this court from June 2006 to August 2008. From 2010 to
2012 he served as a partner of Beijing King & Wood Mallesons. Since 2012 he has been a senior partner of Beijing JunZeJun Law
Offices. He is currently an arbitrator of Shenzhen Court of International Arbitration (Also known as South China International
Economic and Trade Arbitration Commission Shenzhen Arbitration Commission) concurrently an independent director of listed
company Tianma Microelectronics Co. Ltd. an independent director of non-listed company Funde Insurance Holding Co. Ltd. an
independent director of Funde Sino Life Co. Ltd. and an independent director of Sino Life Assets Management Co. Ltd. He serves
an independent director of the Company since November 2017.Mr. Du Wei born in 1955 communist party member senior engineer Ph.D. graduated from the Institute of Plasma Physics Chinese
Academy of Sciences majoring in nuclear fusion and plasma physics. He served as a cadre of the National Energy Commission
assistant engineer and principal staff member of the Yangtze River Basin P lanning Office engineer and deputy manager of China
Nanshan Development Co. Ltd. deputy general manager and general manager of Shenzhen Changjiang Computer Industry
Corporation deputy director and director of the senior manager evaluation and recommendation center of the Organization
Department of Shenzhen Municipal Committee deputy general manager of Shenzhen Expressway Development Co. Ltd.; president
of Shenzhen International Western Logistics Co. Ltd. general manager of Shenzhen International Qianha i Industry (Shenzhen) Co.Ltd. and senior consultant of Shenzhen International Business Management (Shenzhen) Co. Ltd. He is currently Current Execut ive
Director and GM of Shenzhen Borun Investment Co. Ltd. Executive Director and GM of Shenzhen Tianyu Freight Forwarding Co.Ltd. and has been an independent director of the Company since November 2019.Members of supervisory committee of the board:
Mr. Ye Qiliang was born in 1963 a member of the Communist Party of China with a college degree. From 1979 to January 1984 he
served in the Army 83020; from January 1984 to March 1997 he worked in Quannan County of Jiangxi Province; from March 1997
to February 1999 he worked at Shenzhen Shennan Petroleum (Group) Co. Ltd. and served as a clerk in the investment department;
from February 1999 to June 2009 he worked at Shenzhen Guangju Energy Co. Ltd. and served as the deputy director of the gene ral
manager office the deputy director of the secretariat of the board of directors and the representative of securities affairs; he serves as
the committee member of labor union of Shenzhen Guangju Energy Co. Ltd. since July 2012; from July 2009 to March 2016 he
successively served as the deputy general manager and general party branch member of Shenzhen Nanshan Petroleum Co. Ltd.; he
has served as the secretary of party general branch of the Company from April 2016 to July 2018 served as the deputy secreta ry of
party general branch of the Company from July 2018 to May 2019 now he served as deputy party secretary the Company since May
2019. Since September 2021 he has also served as the chairman of Shenzhen Server Petrochemical Supplying Co. Ltd. Since
November 2017 he has been the chairman of the company's board of supervisors.Mr. Li Caijun born in 1978 a member of the Communist Party of China master degree. He was an accounting teacher of
Chongqing Beibei Vocational Education Center the financial manager of Chongqing Yanlong Property Development Co. Ltd. the
manager of investment banking department of Shenzhen Energy Finance Co. Ltd. the director and deputy director of financial
management department of Shenzhen Special Zone Construction and Development Group Co. Ltd. the deputy director of strategic
research and M&A department of Shenzhen Capital Holdings Co. Ltd. and the chief financial officer of Shenzhen Water Investment
46深圳南山热电股份有限公司2021年年度报告全文
Group; He serves as the director of financing plan department of Shenzhen Capital Holdings Co. Ltd. and serves as the supervisor
of the company since April 2021.Mr. Liao Junkai born in 1988 CPC member master of law graduated from South China University of Technology with a major in
master of law (law). He has successively held positions of assistant supervisor and manager of the Risk Control Department of
Shenzhen Capital Co. Ltd. Form November 2020 to November 2021 he serves as supervisor of Shenzhen Academy of Building
Research Co. Ltd. From June 2021 he serves as the general manager of the asset management center of Shenzhen Kelu Electronic
Technology Co. Ltd. He has been a supervisor of the Company since June 2019.Mr. Qian Wenhui born in 1968 accountant bachelor degree graduated from Changsha Normal University of Water Resources and
Electric Power in 1990 majoring in financial accounting. From July to October 1990 he worked at Wuhan Yangluo Power Plant.From October 1990 to August 2003 he worked at the finance department of the Company. From August 2003 to October 2011 he
was the chief financial officer of Zhongshan Zhongfa Power Co. Ltd.. From March 2014 to December 2016 he served as a
supervisor of Zhongshan Shenzhong Real Estate Development Co. Ltd. and Zhongshan Shenzhong Real Estate Investment and
Property Co. Ltd.. He has been serving as the director of audit risk control department of the Company since November 2010 a
supervisor of Shenzhen Server Petrochemical Supplying Co. Ltd since May 2014 and a supervisor of the company's employee
representative since April 2021.Ms. Lu Yindi born in 1982 a member of the Communist Party of China master degree graduated from the School of Management
Huazhong University of Science and Technology in 2008 majoring in Management Science and Engineering. In July 2008 she
joined the Global Supply Chain Management Office of iDSBG Business Group of Foxconn Technology Group and successively
served as deputy section chief section chief and specialist manager of supply Chain Management Office. Since August 20 18 she has
been working in the Company as the director of contract and bidding management of the safety technology departmentthe deputy
director and the director of the supply department and the deputy director of fuel management department of Nanshan Power Factory.She has been the director of the board of directors office of the company since June 2021. Since April 2021 he has been working as
the supervisor of the company's employee representative.Senior officers of the Company:
Resume of Director/GM Chen Yuhui and Director/ standing deputy GM Wu Guowen found the aforesaid.Ms. Zhang Jie born in 1968 CHRM Master of Psychology of Beijing University; she was successively study with specialty of
British and American Literature in the Foreign Language Department of Zhengzhou University and specialty of applied psychology
in the Psychology Department Beijing University. She used to work in Henan Provincial Seismological Bureau as a translator. She
worked in the finance department and office after joining the Company and successively held the posts of secretary office director
general manager assistant and employee supervisor of the Company since 1993. From 2014 to September 2018 concurrently served
as the chairman of Shenzhen Shen Nan Dian Environment Protection Co. Ltd. from December 2015 to April 2021 he concurrently
served as the Secretary of the Board of Directors of the Company she holds the Deputy General Manager of the Company since
December 2006.Mr. Zou Yi born in 1973 a member of the Communist Party of China economic manager master of economics. From July 1994 to
September 2007 he worked at the headquarters of Shenzhen Energy Group Co. Ltd. successively served as the business director of
finance department the deputy director of fund office and the business director of secretary office of the board of directors. From
September 2007 to December 2017 he served as the head of the fund department of Shenzhen Energy Finance Co. Ltd.; from
December 2017 to July 2019 he served as the deputy general manager of Shenzhen Energy Finance Co. Ltd.. From August 2017 to
November 2018 he concurrently served as a director of Huizhou Shenzhen Energy Fengda Power Co. Ltd.. From August 2019 to
April 2021 he served as the director of the office of the board of directors of the Company and from July 2020 to April 2021 he
47深圳南山热电股份有限公司2021年年度报告全文
concurrently served as the director of the administration and management department of the Company. He serves as the secretary of
the board of the Company from April 2021.Post-holding in shareholder’s unit
√Applicable □ Not applicable
Received
Position in
remuneration from
Name Name of shareholder’s unit shareholder’s Worked from Expired on
shareholder’s unit
unit n
(Y/N)
Li Xinwei Shenzhen Energy Group Co. Ltd. Director April 24 2019 N
Huang Qing Shenzhen Energy Group Co. Ltd. Director April 24 2019 N
Post-holding in other unit
√Applicable □ Not applicable
Received
Position in remuneration
Name Name of other units Worked from Expired on
other unit from other unit
(Y/N)
Shenzhen Shen Nan Dian
Chairman October 30 2018 N
Environment Protection Co. Ltd.Shenzhen Shennandian Turbine
Li Xinwei Chairman January 18 2019 N
Engineering Technology Co. Ltd.Shen Nan Energy (Singapore) Co.Director December 27 2017 N
Ltd.August 20 2021
Hu Ming Shenzhen Guangju Energy Co. Ltd. Director GM Y
August 4 2021
Deputy
Huang Qing Shenzhen Capital Holdings Co. Ltd. General September 1 2016 Y
Manager
Shen Nan Dian (Zhongshan) Electric
Chairman August 26 2017 N
Power Co. Ltd.Chen Yuhui
Shen Nan Energy (Singapore) Co.Director December 27 2017 N
Ltd.Shenzhen Server Petrochemical
Ye Qiliang Chairman September 2 2021 N
Supplying Co. Ltd
Head of Asset
Sun Huirong Shenzhen Capital Holdings Co. Ltd. Management April 18 2021 Y
Department
Li Caijun Shenzhen Capital Holdings Co. Ltd. Deputy April 18 2021 Y
48深圳南山热电股份有限公司2021年年度报告全文
director of
accounting
and finance
department
General
Manager of
Shenzhen Kelu Electronic Technology
Liao Junkai Asset June 7 2021 Y
Co. Ltd.Management
Center
Qian Wenhui Shenzhen Serve Energy Co. Ltd. Supervisor September 2 2021 N
Da Hua Certified Public Accountants Partner June 9 2014 Y
Independent
Shenzhen Kunpeng Holdings Co. Ltd. October 1 2019 Y
Mo Jianmin director
Shenzhen Zhuolineng Technology Co. Independent
December 1 2020 Y
Ltd. director
Chen Zetong Junzejun Law Offices Senior Partner September 1 2012 Y
Director
Shenzhen Borun Investment Co. Ltd. General February 1 2020 N
Manager
Du Wei Executive
Shenzhen Tianyu Freight Forwarding Director
February 1 2021 N
Co. Ltd. General
Manager
Punishment of securities regulatory authority in recent three years to the Company’s current and outgoing directors supervis ors and
senior officers during the reporting period
□ Applicable √ Not applicable
3. Remuneration for directors supervisors and senior officers
Decision-making procedures recognition basis and payment for directors supervisors and senior officers
1. Decision-making process: In accordance with relevant regulations of “Articles of Association” the stockholders' meeting would
determine the remuneration of directors and supervisors and the board of directors would determine the remuneration of senior
officers.
2. Determine basis: Currently except for the independent directors the Company has no remuneration system for non-independent
directors and supervisors the directors and staff supervisor only received the pay for the post actually served in the Compa ny. The
Board of Directors will define the annual remuneration standard of the senior officers of the Company on the basis of annual
operating performance post rank and other factors and in consideration of the industrial remuneration level. It will decide the
actually paid remuneration standard by referring to the examination of annual operation performance and audit status.
3. Actual payment: the Company is strictly paying the remuneration to directors in line with the decision-making process and
determining basis on remuneration for directors supervisors and senior officers the relevant expenses arising from transportation
49深圳南山热电股份有限公司2021年年度报告全文
accommodation research study and attending a meeting are borne by the Company.Remuneration for directors supervisors and senior officers in reporting period
In 10 thousand Yuan
Total Whether
remuneration remuneration
Post-holding
Name Title Sex Age obtained from the obtained from
status
Company (before related party of
taxes) the Company
Currently in
Li Xinwei Chairman M 56 85.5 N
office
Li Hongsheng Vice chairman M 58 Leave office 0 Y
Huang Bangxin Vice chairman M 41 Leave office 0 Y
Currently in
Hu Ming Vice chairman M 51 0 Y
office
Currently in
Huang Qing Director M 50 0 Y
office
Currently in
Chen Yuhui Director GM M 56 77.5 N
office
Director
Currently in
Wu Guowen Standing Deputy M 56 72 N
office
GM
Currently in
Sun Huirong Director M 38 0 Y
office
Li Wenying Director M 42 Leave office 0 Y
Independent Currently in
Mo Jianmin M 55 11.9 N
director office
Independent Currently in
Chen Zetong M 51 11.9 N
director office
Independent Currently in
Du Wei M 66 11.9 N
director office
Chairman of Currently in
Ye Qiliang M 58 71.5 N
supervisory board office
Li Zhiwei Supervisor M 41 Leave office 0 Y
Currently in
Li Caijun Supervisor M 43 0 Y
office
Currently in
Liao Junkai Supervisor M 33 0 Y
office
50深圳南山热电股份有限公司2021年年度报告全文
Employee
Liang Jianqiang M 53 Leave office 44.07 N
supervisor
Employee
Peng Bo M 48 Leave office 39.5 N
supervisor
Employee Currently in
Qian Wenhui M 53 41.23 N
supervisor office
Employee Currently in
Lu Yindi F 39 31.82 N
supervisor office
Currently in
Zhang Jie Deputy GM F 53 69.5 N
office
Secretary of the Currently in
Zou Yi M 48 57.43 N
Board office
Dai Xiji CFO M 52 Leave office 11.58 N
Total -- -- -- -- 637.33 --
VI. Responsibility performance of directors during the reporting period
1. The board of directors during the reporting period
Session of
Date of meeting Disclosure date Meeting resolutions
meeting
Deliberated and approved proposals including: Amendment of the
Article of Association of Shenzhen Nanshan Power Co. Ltd.;
th
The 16
Amendment of the Rules of Procedure for Shareholders General
Extraordinary
February 1 2021 February 2 2021 Meeting of Shenzhen Nanshan Power Co. Ltd.; Amendment of the
th
Meeting of the 8
Rules of Procedure for Board of Directors of Shenzhen Nanshan
Board of Directors
Power Co. Ltd. and Holding the First Extraordinary General
Meeting of Shareholders for the year of 2021
Deliberated and approved proposals including: Report on the Work of
BOD for year of 2020; Financial Report for year of 2020; the
Provision for Impairment of Various Assets in 2021; Profit
Distribution Plan for year of 2020; Request for Consideration of the
Annual Internal Control Evaluation Report for 2020; Annual Report
th
The 8 session of
of 2020 (full-text) and its Summary; Comprehensive Management
th
8 board of March 24 2021 March 26 2021
Plan for year of 2021; Accrual of Remuneration for year of 2021; The
directors
Company and its Controlling Subsidiary Applied for Financing
Comprehensive Credit and Provided Guarantee for year of 2021;
Appointment of Auditing Institution for year of 2021 and
Remuneration Determination and Holding the Annual General
Meeting of 2020.th
The 17 April 9 2021 April 10 2021 Deliberated and approved proposal on General Election of the BOD
51深圳南山热电股份有限公司2021年年度报告全文
nd
Extraordinary of the Company and deliberated the proposal on Holding the 2
th
Meeting of the 8 extraordinary general meeting of shareholders of 2021
Board of Directors
th
The 18
Extraordinary Deliberated and approved the First Quarterly Report 2021 (full-text
April 21 2021 April 23 2021
th
Meeting of the 8 and text)
Board of Directors
Deliberated and approved proposal on Election of the Chairman and
th
deputy Chairman of 9 BOD of the Company proposal on Election
st
The 1 session of
th
of the Specific Committee Members of 9 BOD of the Company
th
9 board of April 26 2021 April 27 2021
proposal on Appointment of the GM of the Company; proposal on
directors
Appointment of Secretary of the Board and proposal on Appointment
of other senior officers of the Company.nd
The 2 session of
Deliberated and approved Semi-Annual Report of 2021( full-text) its
th
9 board of August 18 2021 August 20 2021
Summary
directors
st
The 1 Deliberated and approved proposal on Re-election Some
th
Extraordinary Non-independent Directors of 9 BOD Use of Idle Own-funds to
August 25 2021 August 27 2021
th
Meeting of the 9 Purchase Wealth Management Products and Holding the Third
Board of Directors Extraordinary General Meeting of Shareholders for 2021
nd
The 2
Deliberated and approved proposal on Election of the Deputy
Extraordinary
th
September 13 2021 September 14 2021 Chairman of 9 BOD; proposal on adjustment of specific committee
th
Meeting of the 9
th
members of 9 BOD.Board of Directors
rd
The 3
Extraordinary
October 22 2021 October 26 2021 Deliberated and approved The Third Quarterly Report of 2021
th
Meeting of the 9
Board of Directors
th
The 4
Extraordinary Deliberated and approved proposal on Investment for Jiangsu
November 11 2021 November 12 2021
th
Meeting of the 9 Liaoyuan Environmental Protection Technology Co. Ltd.Board of Directors
2. The attending of directors to Board meetings and shareholders general meeting
The attending of directors to Board Meeting and Shareholders General Meeting
Times of Times of Absent the
Times of
Board meeting attending the Times of Meeting for
Times of Times of attend the
Director supposed to Board Meeting entrusted the second
Presence Absence general
attend in the by presence time in a row
meeting
report period communicatio (Y/N)
52深圳南山热电股份有限公司2021年年度报告全文
n
Li Xinwei 10 2 8 N 4
Li Hongsheng 4 0 4 N 2
Huang Bangxin 3 1 2 N 1
Hu Ming 3 1 2 N 1
Huang Qing 10 2 8 N 3
Chen Yuhui 10 2 8 N 4
Wu Guowen 10 2 8 N 4
Sun Huirong 6 2 4 N 2
Li Wenying 4 0 4 N 1
Mo Jianmin 10 2 8 N 4
Chen Zetong 10 1 8 1 N 1
Du Wei 10 2 8 N 4
Explanation of absent the Board Meeting for the second time in a row
Nil
3. Objection for relevant events from directors
Directors come up with objection about Company’s relevant matters
□ Yes √ No
No directors come up with objection about Company’s relevant matters in the Period
4. Other explanation about responsibility performance of directors
The opinions from directors have been adopted
√ Yes □ No
Director's statement to the Company that a proposal has been or has not been adopted
During the reporting period all the directors of the company were diligent and conscientious carried out work in strict accordance
with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange as well as the
company's Articles of Association and Rules of Procedure for the Board of Directors paid close attention to the company's
standardized operation and business situation studied and discussed and offered advice and suggestions and made scientific and
prudent decisions on various proposals submitted to the board of directors according to the actual situation so as to ensure the
sustainable stable and healthy development of the company's business operations and safeguard the legitimate rights and inte rests of
the company and all shareholders.VII. The special committees under the board during the reporting period
Number Other Specific
Committee Important comments
Members of Meeting content performance circumstances
name Date of and suggestions made
meetings of duties of the
53深圳南山热电股份有限公司2021年年度报告全文
held meeting objection (if
applicable)
The motion was
passed unanimously
Deliberation of the
Li Xinwei Li after full
Strategy and Report on Performance
Hongsheng communication &
investment March 24 of Strategy &
Huang Qing 1 discussion among the N/A
management 2021 Investment Management
Chen Yuhui committee members
committee Committee of the Board
Wu Guowen according to the
for year of 2020
actual condition of
the Company
The motion was
passed unanimously
Deliberation of the after full
Strategy and Li Xinwei
Proposal on Purchasing communication &
investment Huang Qing August 25
1 Wealth Management discussion among the N/A
management Chen Yuhui 2021
products with Idle Own committee members
committee Wu Guowen
Funds according to the
actual condition of
the Company
The motion was
passed unanimously
Deliberation of the
Li Xinwei Hu after full
Strategy and proposal on Investment
Ming Huang communication &
investment November for Jiangsu Liaoyuan
Qing Chen 1 discussion among the N/A
management 11 2021 Environmental
Yuhui Wu committee members
committee Protection Technology
Guowen according to the
Co. Ltd.actual condition of
the Company
The motion was
passed unanimously
Deliberation of the after full
Report on Performance communication &
March 24
of Nomination discussion among the N/A
2021
Committee of the Board committee members
Chen Zetong
Nomination for year of 2020 according to the
Li Hongsheng 2
Committee actual condition of
Du Wei
the Company
The motion was
Deliberation of the
passed unanimously
April 9 Proposal on General
after full N/A
2021 Election of BOD of the
communication &
Company
discussion among the
54深圳南山热电股份有限公司2021年年度报告全文
committee members
according to the
actual condition of
the Company。
Deliberation of the 1.All motions were
proposal on appointment
passed unanimously
of GM of the Company;
after full
Chen Zetong 2. proposal on
communication &
Nomination Huang April 26 appointment of
1 discussion among the N/A
Committee Bangxin Du 2021 Secretary of the Board;
committee members
Wei 3.proposal on
according to the
appointment of other
actual condition of
senior officers of the
the Company
Company
The motion was
passed unanimously
Deliberation of the after full
Proposal to Re-elected communication &
Nomination Chen Zetong August 25
1 Some Non-independent discussion among the N/A
Committee Du Wei 2021
th
Director of 9 BOD of committee members
the Company; according to the
actual condition of
the Company
All motions were
Deliberation of the 1.passed unanimously
Report on Performance
after full
Remuneratio of Remuneration &
Mo Jianmin communication &
n and March 24 Appraisal Committee of
Wu Guowen 1 discussion among the N/A
Appraisal 2021 the Board for year of
Du Wei committee members
Committee 2020; 2.Accrual of the
according to the
Remuneration for year
actual condition of
of 2021
the Company
Hearing of the
Communication Letter
with Governance during
February 3
the Ongoing Stage of N/A
2021
Mo Jianmin Annual Audit for year of
Audit
Li Wenying 2 2020 submitted by Lixin
Committee
Chen Zetong Zhonglian CPA
Hearing of the 1.Annual All motions were
March 24 Auditing Report of 2020 passed unanimously
N/A
2021 and Auditing Report of after full
Internal Control for year communication &
55深圳南山热电股份有限公司2021年年度报告全文
of 2020; deliberation of discussion among the
the 3. Request for committee members
Consideration of the according to the
Annual Internal Control actual condition of
Evaluation Report for the Company
2020; 4. Appointment of
Auditing Institution for
year of 2021 and
Remuneration
Determination; 5.Report
on Performance of
Auditing Committee of
the Board for year of
2020;
Hearing of the Auditing
Plan of Shenzhen
November Nanshan Power Co.N/A
22 2021 Ltd. for year of 2021
Mo Jianmin submitted by Lixin
Audit
Sun Huirong 2 Zhonglian CPA
Committee
Chen Zetong Hearing of the
Communication Letter
December
Between CPA and the N/A
302021
Governance submitted
by Lixin Zhonglian CPA
VIII. Works from Supervisory Committee
The Company has risks in reporting period that found in supervisory activity from supervisory committee
□ Yes √ No
Supervisory committee has no objection about supervision events in reporting period
IX. Particulars of workforce
1. Number of Employees Professional categories Education background
Employee in-post of the parent Company at period-end (people) 258
Employee in-post of main Subsidiaries at period-end (people) 134
The total number of current employees at period-end (people) 392
The total number of current employees to receive pay (people) 392
Retired employee’ s expenses borne by the parent Company and
0
main Subsidiaries (people)
56深圳南山热电股份有限公司2021年年度报告全文
Professional categories
Types of professional category Numbers of professional category
Production staff 220
Sales staff 0
Technical staff 0
Financial staff 24
Administration staff 148
Total 392
Education background
Type of education background Numbers (people)
High school and below 48
3-years regular college graduate and Polytechnic school graduate 177
Bachelor degree 146
Master and above 21
Total 392
2. Remuneration Policy
According to the Company's annual operation performance combined with the market-oriented remuneration in the region and
industry the Board implements a principle of annual remuneration provision with the fixed remuneration as main body which will at
the same time of controlling remuneration cost create conditions for the stable workforce. Meanwhile special incentive mechanism
will be available according to the completion of annual business objectives and core mission so as set up an incentive mechanism
linked with operation performance and exert the incentive role of remuneration.The remuneration of the chairman of board will be submitted to the shareholders' meeting for approval after it has been deliberated
by the board of directors. The remuneration of the general manager deputy general manager and other senior officers’ level w ill be
prepared by the Board Remuneration and Appraisal Committee and then be submitted to the board of directors for approval. The
Board of Directors will decide the annual remuneration standard of the senior officers of the Company on the basis of annual
operating efficiency post rank and other factors and in consideration of the industrial remuneration level and the actually paid
remuneration standard by referring to the examination of annual operation performance and audit status. The operation team isauthorized to manage the remuneration of other personnel on the principle of “defining salary in terms of post and obtainingremuneration in terms of labor”. Within the annual remuneration limit approved by the board of directors and in compliance w ith the
remuneration principle and Interim Remuneration Management Provision set down by the Board of Directors determine and execute
the remuneration standard distribution plan examination and incentive method of employees at each level.
3. Training plan
The Company always attached great importance to staff training and established of the "staff training and management regulations"
and a more perfect training network. Through strengthening the staff training enhancing the staff's job skills and comprehensive
quality to better meet the Company's management management demand for talent while training reserve personnel for the
Company's sustainable development. During the reporting period the Company strictly implemented the training plans that
57深圳南山热电股份有限公司2021年年度报告全文
formulated in beginning of the Year mainly carried out the following aspects of the training:
(1) Safety Training: According to the Production Safety Law other laws and regulations organize safety education training for the
safety principal principal and security officer of the Company headquarters and affiliated companies conducting accident emergency
rescue drills and emergency response capability training improve the safety awareness and accident prevention capacity of
management at all levels and employee;
(2) Post qualification training: by means of learning assignments the obtaining of certificate internal training and assessment carry
out certification training for key business and technical post meet with requirements of relevant laws and regulations for vocational
qualification requirements and improve employee job performance ability.
(3) Simulator skills training: relying on gas turbine simulation training base continued to carry out stimulator training for the
operation personnel within three power plants of the Company and improve the practical operation and adaptability to c hanges of
plant operations personnel.
(4) The induction training of new employees: Carry out systematic and pointed job skill and professional training for the newly
recruited graduates of the company;
(5) Training and study of party members: the Company Party committee and the party branches of the company will formulate
detailed and feasible plans according to the requirements of the higher-level organizations by adopting various forms such as issuing
books and materials bringing in teachers and experts and leading party members to go out; actively carrying out the study and
education works for Party members; strictly implement the “three meetings and one class” system and develop activities such as
“secretary teaches party lessons”. We will ensure that party organizations play the role of battle-bastion and the majority of party
members to play a vanguard and exemplary role through training and study.
4. Labor outsourcing
□ Applicable √ Not applicable
X. Profit distribution and transfer of public reserve into share capital
Formulation Implementation and Adjustment of Profit Distribution Policy Especially Cash Dividend policy during the Reporting
Period
□ Applicable √ Not applicable
The Company is profitable during the reporting period and the parent company has positive profit available for distribution to
shareholders without cash dividend distribution plan proposed
□ Applicable √ Not applicable
Profit distribution plan and transfer of public reserve into share capital for the Period
□ Applicable √ Not applicable
The Company has no plan of cash dividends distribution carried out for the Year no bonus shares or transfer of public reserve into
share capital either.XI. Implementation of the Company’s stock incentive plan employee stock ownership plan or
other employee incentives
□ Applicable √ Not applicable
The Company has no equity incentive plan employee stock ownership plans or other employee incentives.
58深圳南山热电股份有限公司2021年年度报告全文
XII. Construction and implementation of internal control system during the reporting period
1. Construction and implementation of internal control
According to the Basic Regulation of Enterprise Internal Control and its supporting guidelines the company updated and improved
the company's internal control system in a timely manner and established a scientific and applicable internal control system. The
audit committee and the internal audit department jointly constituted the company's risk internal control management organization
system to supervise and evaluate the company's internal control management. Through the operation analysis and evaluation of the
internal control system the company has effectively prevented risks in operation and management and promoted the realization of
internal control objectives.
2. Details of major defects in IC appraisal report that found in reporting period
□ Yes √ No
XIII. Management and controls on the subsidiary during reporting period
Not applicable
XIV. Internal control self-assessment report or internal control audit report
1. Self-assessment Report of Internal Control
Disclosure date of full internal control
March 25 2022
assessment report
Disclosure index of full internal control Assessment report of internal control for year of 2021 Juchao Website
assessment report (http://www.cninfo.com.cn)
The ratio of the total assets of units
included in the scope of evaluation
accounting for the total assets on the 94.98%
Company's consolidated financial
statements
The ratio of the operating income of units
included in the scope of evaluation
accounting for the operating income on the 100.00%
Company's consolidated financial
statements
Defects Evaluation Standards
Category Financial Reports Non-financial Reports
Major defects: under major operational Major defects: under major operational
Qualitative criteria activities there are major defects in several activities there are major defects in
companies which are consolidated into the several companies which are
59深圳南山热电股份有限公司2021年年度报告全文
preparation of financial statements or there consolidated into the preparation of
are major defects in few of companies which financial statements or there are major
are consolidated into the preparation of defects in few of companies which are
financial statements but the Company with consolidated into the preparation of
major defect are the main one participating financial statements but the Company
into such major operation activities; with major defect are the main one
participating into such major operation
Substantial defects: under major operational
activities;
activities there are substantial defects in few
of companies which are consolidated into the Substantial defects: under major
preparation of financial statements or there operational activities there are
are moderate defects in several companies substantial defects in few of companies
which are consolidated into the preparation which are consolidated into the
of financial statements but the Company preparation of financial statements or
with major defect are the main on there are moderate defects in several
participating into such major operation companies which are consolidated into
activities; or there are moderate defects in the preparation of financial statements
few of companies which are consolidated but the Company with major defect are
into the preparation of financial statements the main on participating into such major
but the Company with moderate defect are operation activities; or there are
the main one participating into such major moderate defects in few of companies
operation activities; which are consolidated into the
General defects: under major operational preparation of financial statements but
activities there are moderate defects in few the Company with moderate defect are
of companies which are consolidated into the the main one participating into such
preparation of financial statements and the major operation activities;
Company with moderate defects is not the General defects: under major operational
main one participating into the major activities there are moderate defects in
operational activities; or there are only few of companies which are consolidated
general defects in companies which are into the preparation of financial
consolidated into the preparation of financial statements and the Company with
statements; there are no internal control moderate defects is not the main one
defects in major operational activities and participating into the major operational
there are only internal control defects in activities; or there are only general
minor operational activities. defects in companies which are
consolidated into the preparation of
financial statements; there are no internal
control defects in major operational
activities and there are only internal
control defects in minor operational
activities.Major defects: amount of direct loss
Major defects: mistaken amount ≥total assets
Quantitative standard ≥total assets in consolidated financial
in consolidated financial statement×0.5%
statement ×0.5%
60深圳南山热电股份有限公司2021年年度报告全文
Substantial defects: total assets in Substantial defects: total assets in
consolidated financial consolidated financial statement×0.2%≤
statement×0.2%≤mistaken amount< total amount of direct loss< total assets in
assets in consolidated financial consolidated financial statement×0.5%
statement×0.5% General defect: amount of direct loss
General defect: mistaken amount
assets in consolidated financial statement×0.2%
statement×0.2%
Amount of significant defects in financial
0
reports
Amount of significant defects in
0
non-financial reports
Amount of important defects in financial
0
reports
Amount of important defects in
0
non-financial reports
2. Auditing report of internal control
√Applicable □ Not applicable
Deliberations in Internal Control Audit Report
The accountant firm thinks Shenzhen Nanshan Power Co. Ltd. maintains effective internal control of financial report in all
significant aspects in accordance with the Basic Regulation of Enterprise Internal Control
Disclosure of internal control audit
Disclosed
report
Disclosure date of audit report of
March 25 2022
internal control (full-text)
Index of audit report of internal
Audit report of internal control for year of 2021 Juchao Website (http://www.cninfo.com.cn)
control (full-text)
Opinion type of auditing report of
Standard unqualified
IC
whether the non-financial report
No
had major defects
Carried out modified opinion for internal control audit report from CPA
□ Yes √ No
The internal control audit report issued by CPA has concerted opinion with self-evaluation report issued from the Board
√ Yes □ No
61深圳南山热电股份有限公司2021年年度报告全文
XV. Rectification of Self-examination Problems in Special Governance Actions in Listed
Company
1. The term of office of the eighth session of board of directors and the eighth board of supervisors of the company ended in
November 2020. At the end of November 2020 the company failed to conduct a new election in time according to the company's
production and operation the communication with major shareholders and the procedures for recommending candidates so all the
directors and supervisors of the eighth session of the board of directors and the board of supervisors continued to perform t heir due
duties and obligations as directors and supervisors in accordance with laws and regulations. The company has officially started the
work related to the election of the ninth session of board of directors and board of supervisors in February 2021. On February 26
2021 the company sent out the Letter on Recommending Candidates for the Ninth Board of Directors and the Letter on
Recommending Candidates for the Ninth Board of Supervisors to the three major shareholders of the company. On March 1 2021
the company sent out the Opinion Letter on Nomination of Candidates for Independent Director of the Board of Directors of
Shenzhen Nanshan Power Co. Ltd. to the three independent director candidates. After the preliminary preparations for the election
of the Board of Directors and the Board of Supervisors the company organized and held the eighth meeting of the nominations
th th
committee of the eighth board of directors the 17 interim meeting of the eighth board of directors and the 15 interim meeting of
the eighth board of supervisors on April 9 2021 to review the Proposal on the New Election of the Board of Directors of the
Company and the Proposal on the New Election of the Board of Supervisors of the Company. On April 26 the company held the
general meeting of shareholders to review the proposals on the new elections of board of directors and board of supervisors.
2. Mainly due to conflict of working hours some directors and supervisors failed to attend the general meeting of shareholders.
However the relevant directors and supervisors have attended the relevant meetings of the board of directors and the board of
supervisors held prior to this meeting to review the proposals of the shareholders' general meeting and have fully understood the
contents of the proposals to be submitted to the shareholders' general meeting and expressed their opinions. Relevant senior
management personnel of the company attended the shareholders' general meeting in accordance with relevant regulations and
notification requirements of the shareholders' general meeting while other personnel worked at the site of the shareholders' general
meeting and were ready to answer investors' questions at any time. In addition to the above circumstances the directors supervisors
and senior management of the company all attended (as non-voting attendees) or entrusted others to attend the meetings of the board
of directors and the board of supervisors. In the future the company will more strictly implement the Rules of Procedures for General
Meetings of Shareholders and other relevant provisions and remind the directors and supervisors to attend the general meeting of
shareholders.
62深圳南山热电股份有限公司2021年年度报告全文
Section V. Environmental and Social Responsibility
1. Major environmental
The listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
√ Yes □ No
Pollutant
Distribution
Enterprise Main Number of Emission discharge Total
Way of of the Total Excessive
or pollutant discharge concentratio standard approved
discharge discharge discharge emission
subsidiary and features outlet n implemente emissions
outlet
d
Implementa
tion of
Shenzhen Concentrate In plant area“ShenzhenNanshan emission of NanshanOxynitride 2 <15 mg/m3 Blue” 60.75 ton 457.5 ton 0
Power Co. from boiler Power
emission
Ltd. uptake Factory
standard<15
3
mg/m
Implementa
tion of
Shenzhen Concentrate In plant area“ShenzhenNew Power emission of NanshanOxynitride 1 <15 mg/m3 Blue” 34.54 ton 228.75 ton 0
Industrial from boiler Power
emission
Co. Ltd. uptake Factory
standard<15
3
mg/m
Shen Nan
In plant area
Dian Concentrate
of
(Zhongshan emission
Oxynitride 2 Zhongshan <50 mg/m3 GB13223 8.87 ton 324.50 ton 0
) Electric from boiler
Nanlang
Power Co. uptake
Power Plant
Ltd.Construction and operation of the facilities preventing and controlling pollution
All facilities are work normally vary pollutant discharge are in standards.Environmental impact review and other environment protection administrative licensing
The aforesaid companies have pass the environment impact review and file in department of E nvironmental Protection of Guangdong
province.Emergency plan for abrupt environmental accidents
The plans have file in department of Environmental Protection of Guangdong province and corresponding environmental protectio n
bureau.Environmental self-monitoring plan
63深圳南山热电股份有限公司2021年年度报告全文
We have prepared the plans of self-monitoring and approved by Environmental Protection Bureau; monitoring data will release on
Environmental Protection Website on time.Administrative penalties imposed for environmental issues during the reporting period
Nil
Other information need for released
Nil
Measures taken to reducing the carbon emissions during the reporting period and their effectiveness
□ Applicable √ Not applicable
Other environmental protection related information
The Company shall comply with the relevant disclosure requirement for electricity-related industries of Shenzhen Stock Exchange
Self-Regulatory Guidelines for Listed Companies No.3 - Disclosure of Industry Information
II. Social Responsibility
When the global energy crisis broke out in 2021 there was a phenomenon of “power rationing” in China the price of main energy
continued to rise sharply. The company’s annual average fuel price for power generation increased by 51.37% compared with 2020.The company’s on-grid electricity price seriously dropped away from the power generation cost. Under this circumstance the
company had the courage to assume social responsibilities guaranteed the power supply with losses and actively performed its due
social responsibilities within the scope of its ability and devoted to seeking healthy and harmonious development of the enterprise
and its employees the enterprise and the society and the enterprise and the environment:
1. Corporate governance: in compliance with the relevant laws and regulations governance norms of listed Company as well as the
Company’s Articles of Association continuously improve and strictly abide by the modern corporate management system and
governance norms and strive to realize the clear division of powers and responsibilities of the general meeting of shareholders the
board of directors the board of supervisors and the management so that each performs its own functions effectively checks and
balances and coordinates for operation. In accordance with the listed company's corporate governance standards and related
regulations the Company strictly implemented the decision-making procedures of the "three meetings" did a good job in
information disclosure and investor relationship management in accordance with laws and regulations actively maintained the public
image of listed companies and protected the legitimate interests of all shareholders.
2. Safety production: we seriously in line with the Law on Safety in Production and relevant laws and regulations and the rules of
“same responsibility of the Party & Government double duties concerted efforts and negligence of duty”; Take multiple measures
simultaneously to strengthen safety management implement safety responsibilities at all levels layer upon layer and continue to
create a new situation in safety work.
3. Environment protection: the Company has stringently complied with the national and local environment laws and regulations and
consistently adhered to the policy of eco-friendly power generation and cyclic economic development. Our works relating to
environment protection were effectively implemented with satisfaction of all the emission standards completed the environment
protection target for the whole year.
4. In terms of epidemic prevention and control: the company strictly implemented the decision-making and deployment of the Party
Central Committee and the State Council and the work requirements of the epidemic prevention and control command organizations
at all levels and established a special agency for the prevention and control of the COVID-19 epidemic in a timely manner and
established an epidemic prevention and control responsibility mechanism with responsibility to individual and the grid manage ment
and control system drew up epidemic prevention guidelines emergency plans and various work rules tried every means to purchase
epidemic prevention materials strengthened the publicity education and care support for employees. There were no confirmed cases
64深圳南山热电股份有限公司2021年年度报告全文
suspected cases or cases of asymptomatic infection being found among domestic employees. While doing a good job in the
prevention and control of the epidemic the company actively responded to the call for resumption of work and production and
organized production and operation in a safe and orderly manner.
5. Human Resources: The Company attached great importance to talent training and employee care continue to promote the reform
of human resources and further optimize the human resource allocation improved employees’ professional quality and job
competence and made necessary talent preparations for the Company's transformation and development at the same time create d
favorable conditions for the personal career growth of employees; through a series of people’s livelihood care measures created
better working environment and conditions for employees in accordance with local conditions and increased employee happiness
and corporate cohesion
6. In terms of helping and supporting: According to the central government’s decision and deployment of continuing to vigorously
implement consumption assistance responding to the Work Plan of Implementing Consumption Assistance for Rural Revitalization
of Shenzhen City in 2021 (SFBH (2021) No. 19) the Notice of the Municipal Pairing Assistance Work Leading Group Office on
Refining the Expected Target of Consumption Assistance in 2021 and the Implementation of Consumption Assistance for Rural
Revitalization of Nanshan District in 2021 in circumstances of extraordinary business difficulties in 2021 the company fulfilled its
corporate social responsibility and actively participated in consumption assistance under the leadership of capital group labor union
and guang ju gong union purchasing a total of 258200 yuan of poverty alleviation agricultural products.III. Consolidating and expanding the achievements of poverty alleviation and rural
revitalization
According to the central government’s decision and deployment of continuing to vigorously implement consumption assistance
responding to the Work Plan of Implementing Consumption Assistance for Rural Revitalization of Shenzhen City in 2021 (SFBH
(2021) No. 19) the Notice of the Municipal Pairing Assistance Work Leading Group Office on Refining the Expected Target of
Consumption Assistance in 2021 and the Implementation of Consumption Assistance for Rural Revitalization of Nanshan District in
2021 in circumstances of extraordinary business difficulties in 2021 the company fulfilled its corporate social responsibility and
actively participated in consumption assistance under the leadership of capital group labor union and guang ju gong union
purchasing a total of 258200 yuan of poverty alleviation agricultural products.
65深圳南山热电股份有限公司2021年年度报告全文
Section VI. Important Matters
I. Implementation of commitment
1. Commitments that the actual controller shareholders related parties acquirer and the Company have
fulfilled during the reporting period and have not yet fulfilled by the end of reporting period
□Applicable √Not applicable
There was no commitments that the actual controller shareholders related parties acquirer and the Company have fulfilled during
the reporting period and have not yet fulfilled by the end of the reporting period
2. Concerning assets or project of the Company which has profit forecast and reporting period still in
forecasting period explain reasons of reaching the original profit forecast
□ Applicable √ Not applicable
II. Non-operational fund occupation from controlling shareholders and its related party
□ Applicable √ Not applicable
No non-operational fund occupation from controlling shareholders and its related party in period.III. External guarantee out of the regulations
□ Applicable √ Not applicable
No external guarantee out of the regulations occurred in the period.IV. Statement on the latest “modified audit report” by BOD
□ Applicable √ Not applicable
V. Explanation from Board of Directors Supervisory Committee and Independent Directors
(if applicable) for “Modified Audit Report” issued by CPA
□ Applicable √ Not applicable
VI. Explanation of the changes in accounting polices accounting estimates or correction of
significant accounting errors compared with the financial report of the previous year
□ Applicable √ Not applicable
The Company had no changes in accounting policies accounting estimates or correction of significant accounting errors during the
reporting period.
66深圳南山热电股份有限公司2021年年度报告全文
VII. Compare with last year’s financial report; explain changes in consolidation statement’s
scope
□ Applicable √ Not applicable
There was no change in consolidation statement’s scope during the reporting period of the company.VIII. Appointment and non-reappointment (dismissal) of CPA
Accounting firm appointed
LIXINZHONGLIAN CPAS (SPECIAL GENERAL
Name of domestic accounting firm
PARTNERSHIP)
Remuneration for domestic accounting firm (in 10 thousand
73
Yuan)
Continuous year of auditing service for domestic accounting firm 3
Name of domestic CPA Cao Wei ，Liu XinfaContinuous year of auditing service for domestic CPA 3
Re-appointed accounting firms in this period
□Yes √No
Appointment of internal control auditing accounting firm financial consultant or sponsor
√Applicable □ Not applicable
LIXINZHONGLIAN CPAS (SPECIAL GENERAL PARTNERSHIP) was appointed as the auditing authority for the internal control
of the Company with expenses of 0.23 million Yuan .IX. Facing delising after the disclosure of annual report
□ Applicable √ Not applicable
X. Bankruptcy reorganization
□ Applicable √ Not applicable
No bankruptcy reorganization for the Company in reporting period.XI. Major litigation and arbitration of the Company
□ Applicable √ Not applicable
No major litigation and arbitration occurred in the period
XII. Penalty and rectification
□ Applicable √ Not applicable
No penalty and rectification for the Company in reporting period.
67深圳南山热电股份有限公司2021年年度报告全文
XIII. Integrity of the Company and its controlling shareholders and actual controllers
√ Applicable □ Not applicable
During the reporting period the company neither had any failure to implement the court’s effective judgments nor had large amount
of due and unpaid debts that were etc. and had a good credit. During the reporting period the company had no controlling
shareholders or actual controllers.XIV. Major related party transaction
1. Related party transaction with routine operation concerned
□ Applicable √ Not applicable
The Company has no related party transaction with routine operation concerned occurred during the reporting period.
2. Related party transactions by assets acquisition and sold
□ Applicable √ Not applicable
No related party transactions by assets acquisition and sold for the Company in Period.
3. Main related transactions of mutual investment outside
□ Applicable √ Not applicable
No main related transactions of mutual investment outside for the Company in Period.
4. Contact of related credit and debt
□ Applicable √ Not applicable
No contact of related credit and debt occurred in the Period
5. Contact with the related finance companies
□ Applicable √ Not applicable
There are no deposits loans credits or other financial business between the Company the related finance companies and related
parties.
6. Transactions between the finance company controlled by the Company and related parties
□ Applicable √ Not applicable
There are no deposits loans credits or other financial business between the finance companies controlled by the Company and
related parties
7. Other major related party transactions
□ Applicable √ Not applicable
No other major related party transactions occurred in the period
68深圳南山热电股份有限公司2021年年度报告全文
XV. Significant contract and implementations
1. Trusteeship contract and leasing
(1) Trusteeship
√Applicable □ Not applicable
Explanation on trust
In accordance with the “Assets (Generator Sets) Custody Operation Contract of Shenzhen New Power Industrial Co. Ltd.” signed
with the New Power Company the Company entrusted with management for the generator assets owned by New Power Company
(wholly-owned subsidiary of the Company). During the reporting period the Company received an assets custody services of 16.953
million Yuan
Gains/losses to the Company from projects that reached over 10% in total profit of the Company in reporting period
□ Applicable √ Not applicable
No gains or losses to the Company from projects that reached over 10% in total profit of the Company in reporting period.
(2) Contract
□ Applicable √ Not applicable
No contract for the Company in reporting period
(3) Leasing
□ Applicable √ Not applicable
No leasing for the Company in reporting period.
2. Major guarantees
□ Applicable √ Not applicable
No major guarantees occurred in the Period
3. Entrust others to cash asset management
(1) Trust financing
√Applicable □Not applicable
Trust financing in the period
In 10 thousand Yuan
Amount with
impairment accrual
Type Capital sources Amount occurred Outstanding balance Overdue amount
for the overdue
financial products
69深圳南山热电股份有限公司2021年年度报告全文
which has not been
recovered
Bank financial
Own funds 109752.07 56000.07 0 0
products
Total 109752.07 56000.07 0 0
Details of the single major amount or high-risk trust investment with low security poor fluidity
□ Applicable √ Not applicable
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□ Applicable √ Not applicable
(2) Entrusted loans
□ Applicable √ Not applicable
The company had no entrusted loans in the reporting period.
4. Other material contracts
√Applicable □ Not applicable
The The
book assesse
value d value
of the of the Name
The The The Whethe
assets assets of the The
name name The base Bargain r The
involve involve evaluati perform The
of the of the date of date Pricing price connect Inciden index
Contrac d in the d in the on ance by date of
contract contract signatur evaluati principl (10 ed ce of
t object contract contract organiz the end disclos
ing ed e of the on (if es thousan transact relation disclos
(10 (10 ation (if of the ure
compan compan contract applica d Yuan) ion ure
thousan thousan applica term
y y ble) (Y/N)
d Yuan) d Yuan) ble)
(if (if
applica applica
ble) ble)
The
contract
The Failure
is a
Compa Shenzh to meet
Pipelin framew
ny en Gas Not In specific
e 2018-0 ork
New Group N/A N applica progres disclos
natural 5-14 agreem
Power Co. ble s ure
gas ent
Compa Ltd. require
price of
ny ments
the NG
will
70深圳南山热电股份有限公司2021年年度报告全文
decide
through
consult
ation
by
supple
mental
agreem
ent
betwee
n the
two
parties
XVI. Other important events
√Applicable □ Not applicable
1. Matters related to the investment in the Zhongshan Prefabricated Building Industrialization Park project. On May 26 2021 the
company received a Feedback Letter on the Research and Investigation of Shennandian (Zhongshan) Building Industrialization Park
Project from Shenzhen SEZ Construction Group who said that it entrusted a third-party intermediary agency to conduct a feasibility
study on the project and it concluded that the project should not be approved based on the principle of prudence. Considering various
factors the company decided to terminate this investment. (For details please refer to the Notice on Termination of Investment in
Zhongshan Prefabricated Building Industrial Park Project disclosed by the company in China Securities Journal Securities Times
Hong Kong Commercial Daily and www.cninfo.com.cn Notice No. : 2021-036)
2. T102-0011 T102-0155 land related matters
At the end of September 2021 Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Authority (hereinafter
referred to as "Shenzhen Qianhai Authority") issued the "Announcement on the Second Public Presentation of the Draft Revision
(Exposure Draft) of Development Unit Planning of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone
[Qianwan Area]" (hereinafter referred to as the "Announcement") on its official website which publicly presented the draft revision
(exposure draft) of development unit planning of Qianhai Shenzhen-Hong Kong modern service industry cooperation zone [Qianwan
area] for the second time the publicity period was from Septe mber 27 2021 to October 26 2021.Upon learning of the Announcement the company immediately worked with special legal counsel to carefully study the content of
the Announcement and related matters and learned more and verified relevant information. On October 22 2021 the company
submitted the Opinions on the "Announcement of Shenzhen Qianhai Authority on the Second Public Presentation of the Draft
Revision (Exposure Draft) of Development Unit P lanning of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation
Zone [Qianwan Area]" to Shenzhen Qianhai Authority raised relevant issues concerning the planning content of the land
(Development Unit 13) where the company's subordinate Nanshan Power Factory is located in the "Announcement". Once again we
raised objections to the planning of Development Unit 13 and requested Shenzhen Qianhai Authority to fully consider the company's
industrial situation and new development needs in the future and properly solve the related problems of the land (Development Unit
13) of the company's subordinate Nanshan Power Factory so that the legitimate rights and interests of listed companies and their
shareholders could be effectively protected. (For details please refer to the company’s "Notice on the Announcement of Shenzhen
Qianhai Authority on the Second Public Presentation of the Draft Revision (Exposure Draft) of Development Unit Planning of
71深圳南山热电股份有限公司2021年年度报告全文
Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone [Qianwan Area] issued by the Shenzhen Qianhai
Authority" and the "Notice on Submitting Opinions on the Draft Revision (Exposure Draft) of Development Unit Planning of
Qianwan Area to Shenzhen Qianhai Authority" disclosed in China Securities Journal Securities T imes Hong Kong Commercial
Daily and www.cninfo.com.cn Notice No. : 2021-049 2021-053).The company will continue to follow up the progress of matters related to the land of Nanshan Power Factory closely maintain
communication with relevant functional departments of Shenzhen and Shenzhen Qianhai Authority. For any issues that may have
adverse effects on the company and its subsidiaries we will timely respond put forward opinions and appeals in accordance with the
law and do our best to protect the legitimate rights and interests of the listed companies and all shareholders.
3. Matters related to the adjustment of on-grid price for natural gas power generation. On October 20 2021 the company learned
about the "Notification on Raising the On-Grid Price of Natural Gas Power Generation in Our Province" (Document YFGJG [2021]
No. 400) on the official website of Guangdong Provincial Development and Reform Commission according to the related content
the on-grid price of the company's existing natural gas generating units would be uniformly increased by 0.05 yuan/kWh (including
VAT) on the current basis. (For details please refer to Notice on Adjustment of On-Grid Price of Natural Gas Power Generation
disclosed by the company in China Securities Journal Securities Times Hong Kong Commercial Daily and www.cninfo.com.cn
Notice No. : 2021-051)
4. Matters related to the investment in Jiangsu Liaoyuan Environmental Protection Technology Co. Ltd. On November 11 2021 the
th
fourth interim meeting of the 9 board of directors of the company reviewed and approved the "Proposal on Investment in Jiangsu
Liaoyuan Environmental Protection Technology Co. Ltd." and completed the purchase of partial share of Liaoyuan Environmental
Protection by step in November and December 2021. (For details please refer to the Notice on Resolution of the Fourth Interim
th
Meeting of the 9 Board of Directors the Notice on Investment in Jiangsu Liaoyuan Environmental Protection Technology Co. Ltd.and the Notice on the Progress of Investment in Jiangsu Liaoyuan Environmental Protection Technology Co. Ltd. disclosed by the
company in China Securities Journal Securities Times Hong Kong Commercial Daily and www.cninfo.com.cn Notice No. :
2021-0542021-0552021-0562021-060).
5. Matters related to the receipt of fiscal subsidy funds for gas-fired power generation enterprises from August to September 2021. In
middle of December 2021 the company received the Notice of Industry and Information Technology Bureau of Shenzhen
Municipality on the Issuance of Fiscal Subsidy Funds for Gas-fired Power Generation Enterprises from August to September 2021
(SGXZJ [2021]No.50) and received the total subsidy of 16.322 million yuan on December 20 2021. (For details please refer to the
Notice on Receipt of the Notice of Industry and Information Technology Bureau of Shenzhen Municipality on the Issuance of Fiscal
Subsidy Funds for Gas-fired Power Generation Enterprises from August to September 2021 and the Notice on Receipt of Fiscal
Subsidy Funds for Gas-fired Power Generation Enterprises from August to September 2021 disclosed by the company in China
Securities Journal Securities Times Hong Kong Commercial Daily and www.cninfo.com.cn Notice No. : 2021-058 2021-059).In addition to the above matters the company sorted out the refunds of "project technical reform benefit fund" again and contacted
and communicated with relevant personnel but there was no substantial progress during the reporting period. During the reporting
period the company actively promoted the investment in the new-generation information technology equity investment fund of
Shenzhen Asset and the investment in Zhuhai Hengqin Zhuozhi Investment Partnership (limited partnership) but there was no
progress or change in meeting the disclosure standards during the reporting period. There was no progress or change in the
Guangdong Province’s Xinjiang Aid project in which the company participated in 2013 during the reporting period.
72深圳南山热电股份有限公司2021年年度报告全文
XVII. Significant event of subsidiary of the Company
□ Applicable √ Not applicable
73深圳南山热电股份有限公司2021年年度报告全文
Section VII. Changes in Shares and Particulars about Shareholders
I. Changes in Share Capital
1. Changes in Share Capital
In Share
Before the Change Increase/Decrease in the Change (+ -) After the Change
Capitaliza
New
Proportio Bonus tion of Proportio
Amount shares Others Subtotal Amount
n shares public n
issued
reserve
I. Restricted shares 14139 0.0023% -1145 -1145 12994 0.0022%
1. State-owned shares
2. State-owned legal person’s
shares
3. Other domestic shares 14139 0.0023% -1145 -1145 12994 0.0022%
Including: Domestic legal
person’s shares
Domestic natural person’s
141390.0023%-1145-1145129940.0022%
shares
4. Foreign shares
Including: Foreign legal
person’s shares
Foreign natural person’s
shares
60274846027496
II. Unrestricted shares 99.9977% 1145 1145 99.9978%
5702
33889403388951
1. RMB Ordinary shares 56.2235% 1145 1145 56.2236%
1156
2. Domestically listed foreign 2638544 2638544
43.7742%43.7742%
shares 46 46
3. Overseas listed foreign
shares
4. Others
60276256027625
III. Total shares 100.00% 100.00%
9696
74深圳南山热电股份有限公司2021年年度报告全文
Reasons for share changed
√Applicable □ Not applicable
Mr. Peng Bo will no longer serves as the employee representative supervisor of the Company since April 26 2021 due to the
expiration of his office term. All the shares held by Mr. Peng will be released after six months of his departure thereby reducing the
number of shares subject to lock-up by 1145 shares.Approval of share changed
□ Applicable √ Not applicable
Ownership transfer of share changes
□ Applicable √ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□ Applicable √ Not applicable
Other information necessary to disclose or need to disclosed under requirement from security regulators
□ Applicable √ Not applicable
2. Changes of restricted shares
√Applicable □ Not applicable
In Share
Restricted
Shares
Opening Shares Ending
Shareholder increased
shares released in shares Restricted reasons Date for released
s in
restricted Period restricted
the
Period
Mr. Peng Bo will no longer serves as the employee
Peng Bo 1145 1145 0 representative supervisor of the Company since April October 27 2021
26 2021 due to the expiration of his office term.
Total 1145 1145 0 -- --
II. Securities issuance and listing
1. Security offering (without preferred stock) in Reporting Period
□ Applicable √ Not applicable
75深圳南山热电股份有限公司2021年年度报告全文
2. Changes of total shares and shareholders structure as well as explanation on changes of assets and
liability structure
□ Applicable √ Not applicable
3. Existing internal staff shares
□ Applicable √ Not applicable
III. Particulars about shareholder and actual controller of the Company
1. Amount of shareholders of the Company and particulars about shares holding
In Share
Total number of
Total number of preferred
Total number of preferred shareholders
Total number ordinary shareholders whose voting
of ordinary shareholders as whose voting rights were
shareholders at of the end of the rights were restored at the
379353714400
end of the month preceding restored at end of end of the month
reporting the date of the reporting prior to the date
period annual report period (if of annual report
disclosed applicable) (see disclosed (if
note 8) applicable) (see
note 8)
Particulars about shares held above 5% by shareholders or top ten shareholders
Number Shares pledged marked or frozen
Number Number
Sharehold of shares
Changes of of shares
Full name of Nature of ing held at
in report restricted held
Shareholders shareholder percentag the end of State of share Amount
period shares without
e reporting
held restriction
period
HONG KONG
NAM HOI Overseas legal 9212324 9212324
15.28%0
(INTERNATIONA person 8 8
L) LTD.Shenzhen Guangju State-owned legal 7366682 7366682
12.22%0
Industrial Co. Ltd. person 4 4
Shenzhen Energy State-owned legal 6510613 6510613
10.80%0
Group Co. Ltd. person 0 0
BOCI Overseas legal 2.42% 1461086 -364640 1461086
76深圳南山热电股份有限公司2021年年度报告全文
SECURITIES person 2 2
LIMITED
Domestic nature
Zeng Ying 1.19% 7159600 0 7159600
person
China Merchants
Overseas legal -146150
Securities H.K. 0.93% 5618228 5618228
person 0
Co. Ltd.Domestic non
Meiyi Investment
state-owned legal 0.87% 5218000 200 5218000
Property Co. Ltd.person
Haitong
International
Securities Overseas legal
0.65%390935703909357
Company person
Limited-Account
Client
Guosen Securities
Overseas legal
(HK) Brokerage 0.61% 3651901 0 3651901
person
Limited
LI SHERYN Overseas natural -228899
0.59%35365003536500
ZHAN MING person 0
Strategy investors or general
corporation comes top 10 shareholders
Not applicable
due to rights issue (if applicable) (see
note 3)
1. 100% equity of HONG KONG NAM HOI (INTERNATIONAL) LIMITED 100% held
Explanation on associated relationship by Shenzhen Energy Group Co. Ltd.;
among the aforesaid shareholders 2. The Company is unknown whether there exists associated relationship or belongs to the
consistent actor among the other shareholders.Description of the above shareholders
in relation to delegate/entrusted voting
N/A
rights and abstention from voting
rights.Special note on the repurchase account
among the top 10 shareholders (if N/A
applicable) (see note 10)
Particular about top ten shareholders with un-restrict shares held
Number of shares held without restriction at end of Type of shares
Shareholders’ name
the reporting period Type Amount
HONG KONG NAM HOI 92123248 Overseas listed 92123248
77深圳南山热电股份有限公司2021年年度报告全文
(INTERNATIONAL) LTD. foreign shares
RMB common
Shenzhen Guangju Industrial Co. Ltd. 73666824 73666824
shares
RMB common
Shenzhen Energy Group Co. Ltd. 65106130 65106130
shares
Domestically
BOCI SECURITIES LIMITED 14610862 listed foreign 14610862
shares
Domestically
Zeng Ying 7159600 listed foreign 7159600
shares
Domestically
China Merchants Securities H.K. Co.
5618228 listed foreign 5618228
Ltd.shares
RMB common
Meiyi Investment Property Co. Ltd. 5218000 5218000
shares
Domestically
Haitong International Securities
3909357 listed foreign 3909357
Company Limited-Account Client
shares
Domestically
Guosen Securities (HK) Brokerage
3651901 listed foreign 3651901
Limited
shares
Domestically
LI SHERYN ZHAN MING 3536500 listed foreign 3536500
shares
Expiation on associated relationship or
1. 100% equity of HONG KONG NAM HOI (INTERNATIONAL) LIMITED 100% held
consistent actors within the top 10
by Shenzhen Energy Group Co. Ltd.;
un-restrict shareholders and between
2. The Company is unknown whether there exists associated relationship or belongs to the
top 10 un-restrict shareholders and top
consistent actor among the other shareholders.
10 shareholders
Explanation on top 10 shareholders
involving margin business (if N/A
applicable) (see note 4)
Whether top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held have a buy-back
agreement dealing in reporting period
□ Yes √ No
The top ten common stock shareholders or top ten common stock shareholders with un-restrict shares held of the Company have no
buy-back agreement dealing in reporting period.
78深圳南山热电股份有限公司2021年年度报告全文
2. Controlling shareholders
Nature of controlling shareholders: no controlling shareholder
Type of controlling shareholders: nil
Explanation on the Company’s absence of controlling shareholder
At present the company does not have the controlling shareholder as defined in Item (ii) of Article 216 of the "Company Law of the
People's Republic of China (Amended in October 2018)" or Item (iii) of Article 15.1 of the "Stock Listing Rules of Shenzhen Stock
Exchange (Revised in 2022)".Change of controlling shareholder in reporting period
□ Applicable √ Not applicable
The controlling shareholder of the company did not change during the reporting period.
3. Actual controller of the Company and persons acting in concert
Nature of actual controller: no actual controller
Type of actual controller: nil
Explanation on the Company’s absence of actual controller
At present there is no circumstance concerning the identification standards of the actual controller or control rights of listed
companies as defined in Item (iii) of Article 216 of the "Company Law of the People's Republic of China (Amended in October
2018)" or Article 84 of the Administrative Rules on the Acquisition of Listed Companies (Amended in March 2020) and Item (iv) of
Article 15.1 of the "Stock Listing Rules of Shenzhen Stock Exchange (Revised in 2022)".Whether has shareholder owns over 10% shares at ultimate control level
No actual controller
Shareholding at the ultimate control level
no actual controller
Change of actual controller in the period
□ Applicable √ Not applicable
The actual controller of the company did not change during the reporting period.Block diagram of the property rights and control relationship between the company and the actual controller
79深圳南山热电股份有限公司2021年年度报告全文
Actual controller controlling the Company by entrust or other assets management
□ Applicable √ Not applicable
4.The total number of shares pledged by controlling shareholders or the first majority shareholder and its
persons acting in concert accounts for 80% of the shares held by them
□ Applicable √ Not applicable
5. Particulars about other legal person shareholders with over 10% shares held
√Applicable □ Not applicable
Legal
Date of Main business or
Name of legal person shareholder representative/person in Registered capital
establishment management activities
charge
HONG KONG NAM HOI Holding shares through
Wang Daohai May 14 1985 HK$ 15.33 million
(INTERNATIONAL) LTD. investment
Set up industry power
Shenzhen Guangju Industrial Co. investment (specific
Deng Zhenwu May 31 1989 RMB 111.11 million
Ltd. projects will be declared
separately)
Development production
RMB 230.971224
Shenzhen Energy Group Co. Ltd. Wang Daohai July 15 1985 purchase and sale of various
million
conventional energy
80深圳南山热电股份有限公司2021年年度报告全文
(including electricity heat
coal oil and gas) and new
energy
6. Shares reduction restriction from controlling shareholder actual controller recombined square and
other commitment entity
□ Applicable √ Not applicable
IV. The specific implementation of shares buy-back during the reporting period
Implementation progress of shares buy-back
□ Applicable √ Not applicable
Implementation progress of the reduction of repurchases shares by centralized bidding
□ Applicable √ Not applicable
81深圳南山热电股份有限公司2021年年度报告全文
Section VIII. Preferred Stock
□ Applicable √ Not applicable
The Company had no preferred stock in the Period
82深圳南山热电股份有限公司2021年年度报告全文
Section IX. Bonds
□ Applicable √ Not applicable
83深圳南山热电股份有限公司2021年度审计报告
Section X. Financial Report
Shenzhen Nanshan Power Co. Ltd.Auditor’s Report
Lixin Zhonglian Shen Zi[2020]No.: D-0037
立信中联会计师事务所（特殊普通合伙）
LixinZhonglian CPAs (SPECIAL GENERAL PARTNERSHIP)
第1页深圳南山热电股份有限公司2021年度审计报告
Content
I. Auditor’s Report 3—7
II. Financial Statement
1. Consolidated Balance Sheet and Balance Sheet of Parent Company 12—15
2. Consolidated Profit Statement and Profit Statement of Parent Company 16—22
3. Consolidated Cash Flow Statement and Cash Flow Statement of Parent Company 23—29
4. Consolidated and Parent Company’s Statement of Changes in Shareholders’ Equity 30—44
5.Annotations of Financial Statement 45—139
第2页深圳南山热电股份有限公司2021年度审计报告
Auditor’s Report
Lixin Zhonglian Shen Zi[2020]No.: D-0037
To Shareholders of Shenzhen Nanshan Power Co. Ltd.I. Auditor’s opinion
We have audited the financial statements of Shenzhen Nanshan Power Co. Ltd. (hereinafter the “Shen Nan Dian”)
which included the consolidated and parent company’s balance sheet as of 31 December 2021 the consolidated
and parent company’s profit statement the consolidated and parent company’s statement of cash flow and the
consolidated statement of changes in equity of the Company and parent company’s for the year of 2021 together
with the relevant annotations thereto.We have the view that the attached financial statements are prepared in accordance with the Accounting Standards
for Business Enterprises in all material aspects which reflect fairly the consolidated financial position of the
Company and parent company’s as of 31 December 2021 and the operating results and cash flow of the Company
and parent company’s for the year of 2021.II. Basis for audit opinions
We conducted this audit under the requirements of the Auditing Standards of the Certified Public Accountant of
the PRC. The section headed “Certified Public Accountant’s responsibility for audit of financial statement” in the
audit report has further clarified our responsibilities under these standards. Pursuant to the code of professional
conduct as certified public accountant in the PRC we are independent of the Shen Nan Dian and have performed
other responsibility as required by our professional ethics. We believe that the audit evidence obtained by us is
sufficient and adequate which provides foundation for us to issue audit opinion.III. Key audit items
Key audit items refer to those which in our opinion based on our professional judgment are the most important
issues in respect of audit for the current financial statements. We issue audit opinions on these issues in their entity
and provide no opinions separately for each of them.Key audit items Countermeasures
(1) Impairment of assets
Reference to the Annotations of Financial Statement with the Auditing procedures on the impairment of assets including:
“19. Accounting policy” in Note III. Major accounting 1.assess and test the design and effectiveness of execution of
policies and estimation and the note (39) of V. Annotation of the internal control related to assets impairment;
the items in consolidate financial statement 2.select samples of assets to implement supervision proce
As at 31 December 2021 the Company has fixed assets and dure so as to understand whether the assets experience
construction in progress with carrying value of RMB backward crafts long-term idle and load rate;
649345166.81 in total accounting for 23.27% of the 3.Make use of the work of the experts of external appra
consolidated total assets and 73.60% of the non-current assets
iser comprehensively evaluate the parameters used in ass
of the Company which constitutes the essential part of the
essment method of the external appraiser’s qualification a
第3页深圳南山热电股份有限公司2021年度审计报告
Company’s assets. For the year of 2021 the assets nd competency
impairment loss recognized in consolidate financial
statement amounted to RMB 327479010.92 takes
64.44% in total profit of the consolidate profit
statement which has a great impact on the operating
results of Shen Nan Dian.The management has assessed whether there is any sign of
impairment in above assets. For those assets with
impairment sign identified the management makes
impairment test by comparison between the recoverable
amount of the assets (calculated individually or the assets
group in which the asset belongs to) and their carrying value.Since the management of Shen Nan Dian needs to determine
the estimated recoverable amount of assets with significant
accounting estimation and judgment and the impact amount
is significant we determine the impairment of assets as a key
audit item
(2) Revenue recognition principle
As for the accounting policy for revenue recognition and Auditing procedures with recognition of operation revenue
analysis of revenue reference to the Annotations of Financial concerned including:
Statement with the “(24) Accounting policy” in Note III 1. Evaluate the design and operational effectiveness of key
Major accounting policies and estimation and the Note (31). internal controls related to revenue recognition;
in V. Annotation of the items in consolidate financial
2. Select sample to examining the sales contract identify
statement terms and conditions of the contract relating to the transfer of
In 2021 consolidate operation revenue of Shen Nan Dian risk and reward in the ownership of the goods and to evaluate
amounted as RMB 757175743.41 a 23.15% down from a whether the point of revenue recognition conforms to the
year earlier. requirements of Accounting Standards for Business
Since the operation revenue is one of the key performan Enterprises;
ce indicators of the Company and there is an inherent ri 3. Make substantial analysis process with respect to operating
sk that the revenue recognition point may be manipulate income and gross profit and make judgment on the
d to achieve specific objectives or expectations we ident reasonableness of the change in operating income and gross
ify the revenue recognition as a key audit item. profit for the period;
4. Select samples from the accounting records of operating
income and settlement sheet of power rate to review the
truthfulness and completeness of operating revenue
recognition; inspect receivables records and select samples to
issue letters to enquire the balance of ending trade receivables
and amount received in advance. Together with the collection
of trade receivables in subsequent periods to confirm the
truthfulness of sales transactions;
5. Make deadline test on operating income to confirm whether
the operating income is recorded in appropriate accounting
第4页深圳南山热电股份有限公司2021年度审计报告
periods.IV. Other information
The management of Shen Nan Dian (hereinafter the Management) is responsible for other information which
includes the information covered in the Annual Report of 2021 except for the financial statements and our audit
report.Our audit opinion issued on financial statement does not cover other information and we would not issue any form
of verification conclusion for those information.To prepare our audit on financial statement we are required to read other information and during the procedure to
consider that whether other information differs materially from the financial statement or the information obtained
by us during the audit or whether there exits material error.Based on the works done by us in case we find any material error in other information we shall report this fact. In
this regard we have nothing to report.V. Management’s responsibility for financial statements
The Management is responsible for preparing financial statements according to the Business Accounting Standards
which make fair reflection and for designing implementing and maintaining necessary internal control system to
make sure that there is no material misstatement in the financial statements due to fraud or mistake.When preparing the financial statements the management is responsible for assessing the Company’s ability of
continuous operation disclosing the matters relating to continuous operation and applying the assumption of
continuous operation unless the management plans to liquidate the Company terminate operation or has no other
practicable choice.The governance is responsible for monitoring the financial reporting process of the Company.VI. Auditor’s responsibility for audit of the financial statements
Our objectives are to obtain reasonable assurance about whether these financial statements as a whole are free from
material misstatement whether due to fraud or error and to issue an auditor’s report that includes our opinion.Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with auditing standards will always be found in the presence of a material misstatement. Misstatements can arise
from fraud or error and are considered material if individually or in the aggregate they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with auditing standards we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
(1) Identify and assess the risks of material misstatement of the financial statements whether due to fraud or error
design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and
第5页深圳南山热电股份有限公司2021年度审计报告
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error as fraud may involve collusion forgery intentional omissions
misrepresentations or the override of internal control.
(2) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances.
(3) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
(4) Conclude on the appropriateness of management’s use of the going concern basis of accounting and based on
the audit evidence obtained whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material
uncertainty exists we are required to draw attention in our auditor’s report to the related disclosures in these
financial statements or if such disclosures are inadequate we have to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor’s report. However future events or conditions
may cause the Company to cease to continue as a going concern.
(5) Evaluate the overall presentation structure and content of the financial statements and whether the financial
statements represent the underlying transactions and events in a manner that achieves fair presentation.
(6) Obtain adequate and appropriate audit evidence in relation to the financial information of the entities or
business transactions of the Company in order to issue audit opinion on the financial statement. We are responsible
for guiding supervising and executing the audit for the Group and we accept full responsibility for the audit
opinion.We communicate with those charged with governance regarding among other matters the planned scope and
timing of the audit and significant audit findings including any significant deficiencies in internal control that we
identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence and related safeguards (if applicable).From the matters communicated with those charged with governance we determine those matters that were of
most significance in the audit of the financial statements of the current period and are therefore the key audit
matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure
about the matter or when in extremely rare circumstances we determine that a matter should not be communicated
in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public
interest benefits of such communication.
第6页深圳南山热电股份有限公司2021年度审计报告
LIXINZHONGLIAN CPAs
(SPECIAL GENERAL PARTNERSHIP)
Chinese CPA: Cao Wei
(Engagement partner)
Chinese CPA: Liu Xinfa
Tianjin China 23 March 2022
第7页深圳南山热电股份有限公司2021年度审计报告
1. Consolidated balance sheet
Shenzhen Nanshan Power Co. Ltd.December 31 2021
In RMB/CNY
Item December 31 2021 December 31 2020
Current assets:
Monetary funds 689604633.59 764601272.21
Settlement provisions
Capital lent
Trading financial assets 632874406.39
Derivative financial assets
Note receivable
Account receivable 73610161.02 85293052.88
Receivable financing
Accounts paid in advance 64415236.66 29544788.35
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance
receivable
Other account receivable 25841206.66 31027754.36
Including: Interest receivable
Dividend receivable
Buying back the sale of financial
assets
Inventories 88500991.13 100245529.06
Contractual assets 1040000.00 7229600.00
Assets held for sale
Non-current asset due within one
year
Other current assets 331868661.62 917288244.54
Total current assets 1907755297.07 1935230241.40
Non-current assets:
Loans and payments on behalf
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 6986655.19 8893408.86
Investment in other equity
200615000.0081615000.00
instrument
Other non-current financial assets
Investment real estate 2009051.80 2205189.40
Fixed assets 643256398.30 925745208.55
Construction in progress 6088768.51 42782712.98
Productive biological asset
Oil and gas asset
Right-of-use assets
Intangible assets 20465906.86 21125610.24
第8页深圳南山热电股份有限公司2021年度审计报告
Expense on Research and
Development
Goodwill
Long-term expenses to be
1716460.301027508.94
apportioned
Deferred income tax asset 1109286.38 2206049.69
Other non-current asset
Total non-current asset 882247527.34 1085600688.66
Total assets 2790002824.41 3020830930.06
Current liabilities:
Short-term loans 858444163.25 675528858.48
Loan from central bank
Capital borrowed
Trading financial liability
Derivative financial liability
Note payable 135025883.27 30467345.48
Account payable 6703466.71 9306303.26
Accounts received in advance
Contractual liability
Selling financial asset of
repurchase
Absorbing deposit and interbank
deposit
Security trading of agency
Security sales of agency
Wage payable 41533020.96 69426903.97
Taxes payable 4145839.89 7626258.26
Other account payable 62678254.02 27020944.95
Including: Interest payable
Dividend payable
Commission charge and
commission payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within
one year
Other current liabilities
Total current liabilities 1108530628.10 819376614.40
Non-current liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Including: Preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long-term wages payable
Accrual liability 15000000.00 19923508.28
第9页深圳南山热电股份有限公司2021年度审计报告
Deferred income 88079970.09 93780657.93
Deferred income tax liabilities
Other non-current liabilities 50310.78 7627.86
Total non-current liabilities 103130280.87 113711794.07
Total liabilities 1211660908.97 933088408.47
Owner’s equity:
Share capital 602762596.00 602762596.00
Other equity instrument
Including: Preferred stock
Perpetual capital
securities
Capital public reserve 362770922.10 362770922.10
Less: Inventory shares
Other comprehensive income -2500000.00 -2500000.00
Reasonable reserve
Surplus public reserve 332908397.60 332908397.60
Provision of general risk
Retained profit 319351219.81 758799931.94
Total owner’ s equity attributable to
1615293135.512054741847.64
parent company
Minority interests -36951220.07 33000673.95
Total owner’ s equity 1578341915.44 2087742521.59
Total liabilities and owner’ s equity 2790002824.41 3020830930.06
Legal Representative: Li Xinwei
Person in charge of accounting works: Chen Yuhui
Person in charge of accounting institute: Shang Ying
2. Balance Sheet of Parent Company
In RMB/CNY
Item December 31 2021 December 31 2020
Current assets:
Monetary funds 592751213.88 656244294.18
Trading financial assets 622874406.39
Derivative financial assets
Note receivable
Account receivable 35966056.15 24673115.32
Receivable financing
Accounts paid in advance 60381018.05 25560315.87
Other account receivable 618436063.60 598044417.89
Including: Interest receivable
Dividend receivable
Inventories 79904055.96 91867492.38
Contractual assets
第10页深圳南山热电股份有限公司2021年度审计报告
Assets held for sale
Non-current assets maturing within
one year
Other current assets 321673866.15 910645154.56
Total current assets 2331986680.18 2307034790.20
Non-current assets:
Debt investment
Other debt investment
Long-term receivables
Long-term equity investments 287301269.81 250191165.00
Investment in other equity
60615000.0060615000.00
instrument
Other non-current financial assets
Investment real estate
Fixed assets 314308562.41 312649354.95
Construction in progress 1399062.85 1073964.84
Productive biological assets
Oil and natural gas assets
Right-of-use assets
Intangible assets 247959.31 332241.43
Research and development costs
Goodwill
Long-term deferred expenses 1513521.01 734374.41
Deferred income tax assets
Other non-current assets
Total non-current assets 665385375.39 625596100.63
Total assets 2997372055.57 2932630890.83
Current liabilities
Short-term borrowings 458444163.25 675528858.48
Trading financial liability
Derivative financial liability
Notes payable 535025883.27 30467345.48
Account payable 1280357.11 998036.56
Accounts received in advance
Contractual liability
Wage payable 29251444.37 53405473.63
Taxes payable 562233.61 1752749.94
Other accounts payable 132397663.39 204960979.45
Including: Interest payable
Dividend payable
Liability held for sale
Non-current liabilities due within
one year
Other current liabilities
Total current liabilities 1156961745.00 967113443.54
Non-current liabilities:
Long-term loans
第11页深圳南山热电股份有限公司2021年度审计报告
Bonds payable
Including: preferred stock
Perpetual capital
securities
Lease liability
Long-term account payable
Long term employee compensation
payable
Accrual liabilities
Deferred income 52036600.90 54805440.92
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 52036600.90 54805440.92
Total liabilities 1208998345.90 1021918884.46
Owners’ equity:
Share capital 602762596.00 602762596.00
Other equity instrument
Including: preferred stock
Perpetual capital
securities
Capital public reserve 289963039.70 289963039.70
Less: Inventory shares
Other comprehensive income
Special reserve
Surplus reserve 332908397.60 332908397.60
Retained profit 562739676.37 685077973.07
Total owner’s equity 1788373709.67 1910712006.37
Total liabilities and owner’s equity 2997372055.57 2932630890.83
3. Consolidated Profit Statement
In RMB/CNY
Item 2021 2020
I. Total operating income 757175743.41 985253831.58
Including: Operating income 757175743.41 985253831.58
Interest income
Insurance gained
Commission charge and
commission income
II. Total operating cost 996903846.83 928092033.49
Including: Operating cost 850260659.40 794523810.39
Interest expense
Commission charge and
commission expense
Cash surrender value
Net amount of expense of
compensation
Net amount of withdrawal of
insurance contract reserve
第12页深圳南山热电股份有限公司2021年度审计报告
Bonus expense of guarantee
slip
Reinsurance expense
Tax and extras 6281148.30 8545858.05
Sales expense 928661.79 4979915.34
Administrative expense 103286926.69 111618225.09
R&D expense 20933712.98 8490882.58
Financial expense 15212737.67 -66657.96
Including: Interest
30629953.7732014803.26
expenses
Interest income 15728363.74 32660554.45
Add: other income 7074336.60 22711318.05
Investment income (Loss is
45981085.4427809087.38
listed with “-”)
Including: Investment income
-1906753.67-5725794.17
on affiliated company and joint venture
The termination of income
recognition for financial assets measured
by amortized cost(Loss is listed with “-”)
Exchange income (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Income from change of fair
value (Loss is listed with “-”)
Loss of credit impairment
(Loss is listed with “-”)
Losses of devaluation of asset
-327479010.92-43718679.38
(Loss is listed with “-”)
Income from assets disposal
974699.74-1109128.91
(Loss is listed with “-”)
III. Operating profit (Loss is listed with
-513176992.5662854395.23
“-”)
Add: Non-operating income 5261868.99 6585316.78
Less: Non-operating expense 248216.00 153719.62
IV. Total profit (Loss is listed with “-”) -508163339.57 69285992.39
Less: Income tax expense 1237266.58 1361203.90
V. Net profit (Net loss is listed with “-”) -509400606.15 67924788.49
(i) Classify by business continuity
1.continuous operating net profit(net loss listed with ‘-”)
2.termination of net profit (net losslisted with ‘-”)
(ii) Classify by ownership
1.Net profit attributable to owner’s
-439448712.1364024291.32
of parent company
2.Minority shareholders’ gains and
-69951894.023900497.17
losses
VI. Net after-tax of other comprehensive
income
Net after-tax of other comprehensive
income attributable to owners of parent
company
第13页深圳南山热电股份有限公司2021年度审计报告
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
4.Fair value change of
enterprise's credit risk
5. Other
(ii) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial assets
re-classify to other comprehensive
income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging reserve
6.Translation differences
arising on translation of foreign currency
financial statements
7.Other
Net after-tax of other comprehensive
income attributable to minority
shareholders
VII. Total comprehensive income -509400606.15 67924788.49
Total comprehensive income
-439448712.1364024291.32
attributable to owners of parent Company
Total comprehensive income
-69951894.023900497.17
attributable to minority shareholders
VIII. Earnings per share:
(i) Basic earnings per share -0.7291 0.1062
(ii) Diluted earnings per share -0.7291 0.1062
Legal Representative: Li Xinwei
Person in charge of accounting works: Chen Yuhui
Person in charge of accounting institute: Shang Ying
4. Profit Statement of Parent Company
In RMB/CNY
Item 2021 2020
第14页深圳南山热电股份有限公司2021年度审计报告
I. Operating income 393181803.59 375980848.55
Less: Operating cost 409560912.13 350765440.51
Taxes and surcharge 2649303.27 1869505.05
Sales expenses
Administration expenses 37736990.21 61463793.70
R&D expenses 13090279.46
Financial expenses -7412079.88 -33786954.71
Including: interest
32363377.8928907352.91
expenses
Interest income 39843733.49 62595082.66
Add: other income 3610167.05 14052451.52
Investment income (Loss is
47664277.47-14432400.00
listed with “-”)
Including: Investment income
on affiliated Company and joint venture
The termination of
income recognition for financial assets
measured by amortized cost (Loss is
listed with “-”)
Net exposure hedging income
(Loss is listed with “-”)
Changing income of fair
value (Loss is listed with “-”)
Loss of credit impairment
(Loss is listed with “-”)
Losses of devaluation of asset
-111950707.32-7399234.51
(Loss is listed with “-”)
Income on disposal of assets
944667.70-1085739.91
(Loss is listed with “-”)
II. Operating profit (Loss is listed with
-122175196.70-13195858.90
“-”)
Add: Non-operating income
Less: Non-operating expense 163100.00 5290.00
III. Total Profit (Loss is listed with “-”) -122338296.70 -13201148.90
Less: Income tax
IV. Net profit (Net loss is listed with
-122338296.70-13201148.90
“-”)
(i) continuous operating net profit(net loss listed with ‘-”)
(ii) termination of net profit (netloss listed with ‘-”)
V. Net after-tax of other comprehensive
income
(I) Other comprehensive income
items which will not be reclassified
subsequently to profit of loss
1.Changes of the defined
benefit plans that re-measured
2.Other comprehensive
income under equity method that cannot
be transfer to gain/loss
3.Change of fair value of
investment in other equity instrument
第15页深圳南山热电股份有限公司2021年度审计报告
4.Fair value change of
enterprise's credit risk
5. Other
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss
1.Other comprehensive
income under equity method that can
transfer to gain/loss
2.Change of fair value of
other debt investment
3.Amount of financial
assets re-classify to other
comprehensive income
4.Credit impairment
provision for other debt investment
5.Cash flow hedging
reserve
6.Translation differences
arising on translation of foreign
currency financial statements
7.Other
VI. Total comprehensive income -122338296.70 -13201148.90
VII. Earnings per share:
(i) Basic earnings per share
(ii) Diluted earnings per share
第16页深圳南山热电股份有限公司2021年度审计报告
5. Consolidated Cash Flow Statement
In RMB/CNY
Item 2021 2020
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 864329995.09 1108562507.27
services
Net increase of customer deposit
and interbank deposit
Net increase of loan from central
bank
Net increase of capital borrowed
from other financial institution
Cash received from original
insurance contract fee
Net cash received from reinsurance
business
Net increase of insured savings
and investment
Cash received from interest
commission charge and commission
Net increase of capital borrowed
Net increase of returned business
capital
Net cash received by agents in sale
and purchase of securities
Write-back of tax received 214166.34 1601602.02
Other cash received concerning
51426395.7145950570.01
operating activities
Subtotal of cash inflow arising from
915970557.141156114679.30
operating activities
Cash paid for purchasing
commodities and receiving labor 721294436.17 631546077.17
service
Net increase of customer loans and
advances
Net increase of deposits in central
bank and interbank
Cash paid for original insurance
contract compensation
Net increase of capital lent
Cash paid for interest commission
charge and commission
Cash paid for bonus of guarantee
slip
Cash paid to/for staff and workers 150735758.93 144256547.88
Taxes paid 26215327.00 61168879.09
Other cash paid concerning
56983337.1158417766.14
operating activities
Subtotal of cash outflow arising from
955228859.21895389270.28
operating activities
Net cash flows arising from operating -39258302.07 260725409.02
第17页深圳南山热电股份有限公司2021年度审计报告
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
25656458.26
investment
Cash received from investment
57648950.11
income
Net cash received from disposal of
fixed intangible and other long-term 1807866.50 540.00
assets
Net cash received from disposal of
32412836.98
subsidiaries and other units
Other cash received concerning
7907964.80
investing activities
Subtotal of cash inflow from investing
85113274.8740321341.78
activities
Cash paid for purchasing fixed
44862987.9918670897.05
intangible and other long-term assets
Cash paid for investment 201873680.00 510190094.90
Net increase of mortgaged loans
Net cash received from
subsidiaries and other units obtained
Other cash paid concerning
investing activities
Subtotal of cash outflow from investing
246736667.99528860991.95
activities
Net cash flows arising from investing
-161623393.12-488539650.17
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
42483.0085632.79
investment
Including: Cash received from
absorbing minority shareholders’
investment by subsidiaries
Cash received from loans 1061031840.80 1148033285.00
Other cash received concerning
170000000.00
financing activities
Subtotal of cash inflow from financing
1061074323.801318118917.79
activities
Cash paid for settling debts 909092726.75 1056000000.00
Cash paid for dividend and profit
25970397.4539905513.17
distributing or interest paying
Including: Dividend and profit of
minority shareholder paid by
subsidiaries
Other cash paid concerning
887962.40
financing activities
Subtotal of cash outflow from financing
935063124.201096793475.57
activities
Net cash flows arising from financing
126011199.60221325442.22
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -126143.03 -399929.82
exchange rate
第18页深圳南山热电股份有限公司2021年度审计报告
V. Net increase of cash and cash
-74996638.62-6888728.75
equivalents
Add: Balance of cash and cash
764601272.21771490000.96
equivalents at the period -begin
VI. Balance of cash and cash
689604633.59764601272.21
equivalents at the period -end
6. Cash Flow Statement of Parent Company
In RMB/CNY
Item 2021 2020
I. Cash flows arising from operating
activities:
Cash received from selling
commodities and providing labor 649301148.13 533744518.18
services
Write-back of tax received 181606.65 312882.87
Other cash received concerning
274118435.89624995145.52
operating activities
Subtotal of cash inflow arising from
923601190.671159052546.57
operating activities
Cash paid for purchasing
commodities and receiving labor 358851605.45 283488305.67
service
Cash paid to/for staff and workers 109824916.40 95218999.45
Taxes paid 2921107.01 2899621.27
Other cash paid concerning
392790366.22357365024.96
operating activities
Subtotal of cash outflow arising from
864387995.08738971951.35
operating activities
Net cash flows arising from operating
59213195.59420080595.22
activities
II. Cash flows arising from investing
activities:
Cash received from recovering
25656458.26
investment
Cash received from investment
57048950.11
income
Net cash received from disposal of
fixed intangible and other long-term 1751974.50
assets
Net cash received from disposal of
59990000.00
subsidiaries and other units
Other cash received concerning
6763164.80
investing activities
Subtotal of cash inflow from investing
84457382.8766753164.80
activities
Cash paid for purchasing fixed
41299271.449391182.84
intangible and other long-term assets
Cash paid for investment 72873680.00 489190094.90
Net cash received from
118957517.0021272400.00
subsidiaries and other units obtained
Other cash paid concerning
investing activities
第19页深圳南山热电股份有限公司2021年度审计报告
Subtotal of cash outflow from investing
233130468.44519853677.74
activities
Net cash flows arising from investing
-148673085.57-453100512.94
activities
III. Cash flows arising from financing
activities
Cash received from absorbing
investment
Cash received from loans 961031840.80 848033285.00
Other cash received concerning
financing activities
Subtotal of cash inflow from financing
961031840.80848033285.00
activities
Cash paid for settling debts 909092726.75 756000000.00
Cash paid for dividend and profit
25970397.4534827027.04
distributing or interest paying
Other cash paid concerning
887962.40
financing activities
Subtotal of cash outflow from financing
935063124.20791714989.44
activities
Net cash flows arising from financing
25968716.6056318295.56
activities
IV. Influence on cash and cash
equivalents due to fluctuation in -1906.92 -2789.77
exchange rate
V. Net increase of cash and cash
-63493080.3023295588.07
equivalents
Add: Balance of cash and cash
656244294.18632948706.11
equivalents at the period -begin
VI. Balance of cash and cash
592751213.88656244294.18
equivalents at the period -end
第20页深圳南山热电股份有限公司2021年度审计报告
7. Statement of Changes in Owners’ Equity (Consolidated)
Current Period
In RMB/CNY
2021
Owners’ equity attributable to the parent Company
Other
equity instrument Other Minori Total
Item Less: compr Provisi
Share Perpe Reaso Surplu Retain ty owners
Capital Invent ehensi on of Subtot
capita tual nable s ed Other interes ’
Prefe reserve ory ve genera al
l capit reserve reserve profit ts equity
rred Other shares incom l risk
al
stock e
secur
ities
I. Balance at the 6027 36277 33290 75879 2054 33000 2087
-2500
end of the last 6259 0922. 8397. 9931. 74184 673.9 74252
000.00
year 6.00 10 60 94 7.64 5 1.59
Add:
Changes of
accounting
policy
Error
correction of the
last period
Enterprise
combine under
the same control
Other
60273627733290758792054330002087
II. Balance at -2500
62590922.8397.9931.74184673.974252
year-begin 000.00
6.001060947.6451.59
III. Increase/
Decrease in this -4394 -4394 -6995 -5094
year (Decrease 48712 48712 1894. 00606
is listed with .13 .13 02 .15
“-”)
(i) Total -4394 -4394 -6995 -5094
comprehensive 48712 48712 1894. 00606
income .13 .13 02 .15
(ii) Owners’
devoted and
decreased
capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
4. Other
第21页深圳南山热电股份有限公司2021年度审计报告
(III) Profit
distribution
1. Withdrawal
of surplus
reserves
2. Withdrawal
of general risk
provisions
3. Distribution
for owners (or
shareholders)
4. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4 ． Carry-over
retained
earnings from
the defined
benefit plans
5 ． Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(VI) Others
IV. Balance at 6027 36277 33290 31935 1615 -3695 1578
-2500
the end of the 6259 0922. 8397. 1219. 29313 1220. 34191
000.00
report period 6.00 10 60 81 5.51 07 5.44
Last Period
In RMB/CNY
2020
Item Owners’ equity attributable to the parent Company Minorit Total
Share Other Capital Less: Other Reaso Surplu Provisi Retain Other Subtot y owners’
第22页深圳南山热电股份有限公司2021年度审计报告
capita equity instrument reserve Invent compr nable s on of ed al interest equity
l ory ehensi reserve reserve genera profit s
Perp
shares ve l risk
etual
Prefe incom
capit
rred Other e
al
stock
secur
ities
I. Balance at 6027 36277 33290 70683 2002 20624
-250059719
the end of the 6259 0922. 8397. 0892. 77280 92321.
000.00513.26
last year 6.00 10 60 54 8.24 50
Add: Changes
of accounting
policy
Error correction
of the last
period
Enterprise
combine under
the same
control
Other
6027362773329070683200220624
II. Balance at -2500 59719
62590922.8397.0892.7728092321.
year-begin 000.00 513.26
6.001060548.2450
III. Increase/
Decrease in this 51969 51969
-2671825250
year (Decrease 039.4 039.4
839.31200.09
is listed with 0 0
“-”)
(i) Total 64024 64024
3900467924
comprehensive 291.3 291.3
97.17788.49
income 2 2
(ii) Owners’
devoted and -30619 -30619
decreased 336.48 336.48
capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
-30619-30619
4. Other
336.48336.48
-1205-1205
(III) Profit -12055
5251.5251.
distribution 251.92
9292
1. Withdrawal
of surplus
reserves
2. Withdrawal
第23页深圳南山热电股份有限公司2021年度审计报告
of general risk
provisions
3. Distribution -1205 -1205
-12055
for owners (or 5251. 5251.
251.92
shareholders) 92 92
4. Other
(IV) Carrying
forward
internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4 ． Carry-over
retained
earnings from
the defined
benefit plans
5 ． Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
report period
(VI) Others
IV. Balance at 6027 36277 33290 75879 2054 20877
-250033000
the end of the 6259 0922. 8397. 9931. 74184 42521.
000.00673.95
report period 6.00 10 60 94 7.64 59
8. Statement of Changes in Owners’ Equity (Parent Company)
Current Period
In RMB/CNY
2021
Other equity instrument
Other
Item Perpet Capital Less: Reasona Total Share Preferr compreh Surplus Retaine
ual public Inventor ble Other owners’ capital ed Other ensive reserve d profit
capital reserve y shares reserve equity
stock income
securiti
第24页深圳南山热电股份有限公司2021年度审计报告
es
I. Balance at the 60276 68507
2899633329081910712
end of the last 2596.0 7973.0
039.70397.60006.37
year 0 7
Add:
Changes of
accounting
policy
Error
correction of the
last period
Other
6027668507
II. Balance at 289963 332908 1910712
2596.07973.0
year-begin 039.70 397.60 006.37
07
III. Increase/
-12233
Decrease in this -1223382
8296.7
year (Decrease is 96.70
0
listed with “-”)
(i) Total -12233
-1223382
comprehensive 8296.7
96.70
income 0
(ii) Owners’
devoted and
decreased capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with share-based
payment
4. Other
(III) Profit
distribution
1. Withdrawal of
surplus reserves
2. Distribution
for owners (or
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
第25页深圳南山热电股份有限公司2021年度审计报告
capital)
3. Remedying
loss with surplus
reserve
4. Carry-over
retained earnings
from the defined
benefit plans
5. Carry-over
retained earnings
from other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal in
the report period
2. Usage in the
report period
(VI) Others
IV. Balance at 60276 56273
2899633329081788373
the end of the 2596.0 9676.3
039.70397.60709.67
report period 0 7
Last period
In RMB/CNY
2020
Other equity
instrument
Other
Item Perpet Capital Less: Total Share compre Reasonab Surplus Retained
public Inventor Other owners’
capital Preferr ual hensive le reserve reserve profit
ed capital Other reserve y shares equity income
stock securit
ies
I. Balance at the 60276
289963332908710334319359684
end of the last 2596.
039.70397.6073.8907.19
year 00
Add: Changes
of accounting
policy
Error correction
of the last
period
Other
60276
II. Balance at 289963 332908 7103343 19359684
2596.
year-begin 039.70 397.60 73.89 07.19
00
III. Increase/
Decrease in this
-252564-25256400
year (Decrease
00.82.82
is listed with
“-”)
(i) Total
-132011-13201148
comprehensive
48.90.90
income
(ii) Owners’
devoted and
decreased
第26页深圳南山热电股份有限公司2021年度审计报告
capital
1.Common
shares invested
by shareholders
2. Capital
invested by
holders of other
equity
instruments
3. Amount
reckoned into
owners equity
with
share-based
payment
4. Other
(III) Profit -120552 -12055251
distribution 51.92 .92
1. Withdrawal
of surplus
reserves
2. Distribution
-120552-12055251
for owners (or
51.92.92
shareholders)
3. Other
(IV) Carrying
forward internal
owners’ equity
1. Capital
reserves
conversed to
capital (share
capital)
2. Surplus
reserves
conversed to
capital (share
capital)
3. Remedying
loss with
surplus reserve
4. Carry-over
retained
earnings from
the defined
benefit plans
5. Carry-over
retained
earnings from
other
comprehensive
income
6. Other
(V) Reasonable
reserve
1. Withdrawal
in the report
period
2. Usage in the
第27页深圳南山热电股份有限公司2021年度审计报告
report period
(VI) Others
IV. Balance at 60276
289963332908685077919107120
the end of the 2596.
039.70397.6073.0706.37
report period 00
Shenzhen Nanshan Power Co. Ltd.Annotations of financial statement 2021
(Unless otherwise stated the amount of unit is RMB/CNY)
I. Company Profile
(1) Profile
Shenzhen Nanshan Power Co. Ltd (hereinafter “Company” or “the Company” ) was reorganized to be a
joint-stock enterprise from a foreign investment enterprise on 25 November 1993 upon the approval of General
Office of Shenzhen Municipal Government with Document Shen Fu Ban Fu [1993] No.897.After approved by Document Shen Zhu Ban Fu [1993] No.179 issued by Shenzhen Securities Regulatory Office
on 3 January 1994 the Company offered 40000000 RMB common shares and 37000000 domestically listed
foreign shares in and out of China. And the RMB common shares (A-stock) and domestically listed foreign listed
shares (B-stock) were listed in Shenzhen Stock Exchange successively on July 1 1994 and Nov. 28 1994.Headquarter of the Company located on 16/F 17/F Han Tang Building OCT Nanshan District Shenzhen City
Guangdong Province P.R.C.The financial statement has approved for report by the Board on 23 March 2022.
(2) Scope of financial statement
(i) There are 9 subsidiaries included in the consolidate financial statement including:
Subsidiary Share holding ratio % NoteShen Nan Dian (Zhongshan) Electric Power Co. Ltd.(“Zhongshan
80.00Electric Power”)
Shenzhen Shennandian Turbine Engineering Technology Co.
100.00
Ltd.(“Engineering Company”)
Shenzhen Shen Nan Dian Environment Protection Co.
100.00
Ltd.(“Environment Protection Company”)Shenzhen Server Petrochemical Supplying Co. Ltd(“Shenzhen
50.00Server”)
Shenzhen New Power Industrial Co. Ltd.(“New Power”) 100.00
第28页深圳南山热电股份有限公司2021年度审计报告
Subsidiary Share holding ratio % Note
Shen Nan Energy (Singapore) Co. Ltd.(“Singapore Company”) 100.00
Hong Kong Syndisome Co. Ltd.(“Syndisome”) 100.00
Zhongshan Shen Nan Dian Storage Co. Ltd.(“Shen Storage”) 80.00
Zhuhai Hengqin Zhuozhi Investment Partnership (Limited
99.96
Partnership)(“Zhuhai Hengqin ”)
Scope of the consolidate financial statement and its changes found more in the VI. Change of Consolidate Scope
and VII. Equity in other entity carry in the Note
II. Preparation basis of Financial statement
(1) Preparation basis
The Company’s financial statements have been prepared based on the going concern and the actual transactions
and events. In accordance with the Accounting Standards for Business Enterprises- Basic Norms and every
specific accounting rules the application guidelines of the Accounting Standards for Business Enterprises
interpretations and other related rules of the Accounting Standards for Business Enterprises (hereinafter referred to
as “ASBEs”) and the disclosure requirements of the “Regulation on the Preparation of Information Disclosures ofCompanies Issuing Public Shares No. 15- General Requirements for Financial Reports” of China Securities
Regulatory Commission.
(2)Going concern
The Company is capable of going concern for 12 months from the end of the reporting period and
there are no major issues affecting the ability to go concern.III. Major Accounting Policies and Estimation
The Company together with its subsidiaries is mainly engaged in businesses as production of power and heat
power plant construction fuel trading engineering consulting and sludge drying. According to the actual
production and operation characteristics the Company and its subsidiaries establish certain specific accounting
policies and accounting estimates in respect of their transactions and matters such as sales revenue recognition
pursuant to relevant business accounting principles. Details are set out in (24) Revenue under Note III.
(1) Statement on observation of Accounting Standard for Business Enterprises
The financial statement of the Company are comply with the requirements of ASBE issued by
Ministry of Finance and present a true and complete view of the consolidated and parent
company’s financial status as of December 31 2021 and the consolidated and parent company’s
operation results and cash flow for the year of 2021.
(2) Accounting period
A fiscal year from January 1 to December 31 of the Gregorian calendar.
第29页深圳南山热电股份有限公司2021年度审计报告
(3)Operating cycle
The Company takes 12 months of a year as the normal operating cycle and takes the operating
cycle as the standard for the liquidity division of assets and liabilities.
((4)Book-keeping standard currency
Book-keeping standard of the Company is RMB(CNY)
(5)Accounting treatment on enterprise combine under the same control and under the
different control
Enterprise combination under the same control: The assets and liabilities obtained by the combining party in
enterprise combination are measured at the book value of the consolidated financial statements of the ultimate
controlling party in accordance with the assets and liabilities of the combined party on the date of combination.The difference between the carrying amount of the net assets obtained and the carrying amount of the
consideration paid for the combination (or the aggregate nominal value of shares issued as consideration) is
charged to the share capital premium in capital reserve. If the share capital premium in capital reserve is not
sufficient to absorb the difference any excess shall be adjusted against retained earnings.Enterprise combinations not under the same control: The purchaser's assets paid and liabilities incurred or assumed
on the date of purchase as a consideration of enterprise combination are measured at fair value and the difference
between the fair value and its book value is included in the current profit and loss. Where the cost of a business
combination exceeds the acquirer’s interest in the fair value of the acquiree’s identifiable net assets the difference
is recognized as goodwill; where the cost of a business combination less than the acquirer’s interest in the fair
value of the acquiree’s identifiable net assets reckoned into current gains/losses after double-check.The directly relevant fees incurred in the merger of enterprises shall be reckon into the current
gains/losses when incurred; the transaction costs of issuing equity securities or debt security for
the purpose of enterprise combination should be reckon into the initial recognition of equity
security or debt security.
(6)Preparation methods for consolidated statement
1.Consolidate scope
Scope of the consolidate financial statement is determined on a control basis including the
Company and all subsidiaries.
2. Consolidate procedures
Based on the financial statements of itself and its subsidiaries the Company compiles the
第30页深圳南山热电股份有限公司2021年度审计报告
consolidated financial statements in line with other relevant information. The Company compiles
consolidated financial statements considers the entire enterprise group as an accounting entity
and reflects the overall financial position operating results and cash flow of the enterprise group
in accordance with the relevant accounting standards' recognition measurement and presentation
requirements and in accordance with unified accounting policies.The accounting policies and accounting periods adopted by all subsidiaries included in the
consolidation scope of the consolidated financial statements are consistent with the Company. If
the accounting policies and accounting periods adopted by the subsidiaries are inconsistent with
the Company when preparing the consolidated financial statements make necessary adjustments
according to the accounting policies and accounting periods of the Company. For a subsidiary
acquired through a business combination not under the same control its financial statements are
adjusted based on the fair value of the identifiable net assets at the acquisition date. For a
subsidiary acquired through a business combination under the same control its financial
statements are adjusted based on the book value of its assets and liabilities (including the goodwill
formed by the ultimate controlling party's acquisition of the subsidiary) in the ultimate controlling
party's financial statements.The subsidiary's owner's equity current net profit or loss and the share of current comprehensive
income belonging to minority shareholders are separately listed under the owner's equity item in
the consolidated balance sheet under the net profit item in the consolidated income statement and
under the total comprehensive income item. If the current loss shared by the minority shareholders
of a subsidiary exceeds the minority shareholder' share in the owner's equity of the subsidiary at
the beginning of the period the balance shall offset against the minority shareholders' equity.
(1) Increase subsidiaries or businesses
During the reporting period if a subsidiary or business is added due to a business combination
under the same control adjust the opening balance of the consolidated balance sheet; incorporate
the income expenses and profits of the subsidiary or business combination from the beginning of
the current period to the end of the reporting period into the consolidated income statement;
incorporate the cash flows of the subsidiary or business combination from the beginning of the
current period to the end of the reporting period into the consolidated cash flow statement and
adjust the relevant items of the comparative statement as if the consolidated reporting entity had
been existing since the time when the ultimate controlling party began controlling.Where it is possible to exercise control over an investee under the same control due to additional
investment all parties participating in the combination are deemed to have adjusted in their
current state when the ultimate controlling party commenced control. The equity investment held
第31页深圳南山热电股份有限公司2021年度审计报告
before the control of the combined party is obtained the relevant profit or loss and other
comprehensive income that have been confirmed between the date of acquisition of the original
equity and the date on which the combining party and the combined party are under the same
control until the combining date as well as other changes in net assets respectively write down the
retained earnings at the beginning of period or the current profits and losses in the comparative
statements.During the reporting period if a subsidiary or business is added due to a business combination not
under the same control the opening balance of the consolidated balance sheet period will not be
adjusted; the income expenses and profits of the subsidiary or business from the acquisition date
to the end of the reporting period will be included in the consolidated income statement; the cash
flows of the subsidiary or business from the acquisition date to the end of the reporting period are
included in the consolidated statement of cash flow.For reasons such as additional investments that can control an investee not under the same control the Company
remeasures the equity of the acquiree held before the purchase date according to the fair value of the equity on the
purchase date and the balance between the fair value and its book value is included in the current investment
income. If the equity of the acquiree held before the purchase date involves other comprehensive income under the
equity method and other changes in owner's equity other than net profit or loss other comprehensive income and
profit distribution other comprehensive income and other changes in owner's equity related to it shall be converted
into the investment income of the current period on the date of purchase except for other comprehensive income
arising from the re-measurement of the net liabilities or changes in net assets of the defined benefit plan of the
investee.
(2)Disposal of subsidiaries or businesses
* General treatment method
During the reporting period when the Company disposes of a subsidiary or business the income
expenses and profits of the subsidiary or business from the beginning of the period to the disposal
date are included in the consolidated income statement while the cash flow of the subsidiary or
the business from the beginning of the period to the disposal date is included in the consolidated
statement of cash flow.For control rights loss in original subsidiary for partial equity investment disposal or other reasons the remained
equity should re-measured based on the fair value at date of control losses. The difference between the net assets of
original subsidiary share by proportion held that sustainable calculated since purchased date (or combination date)
and sum of consideration obtained by equity disposal and fair value of remain equity reckoned into the current
investment income of control rights loss. Other comprehensive income related to the original subsidiary's equity
investment or other changes in owner's equity other than net profit and loss other comprehensive income and
profit distribution will be converted to current investment income when the control is lost except for other
comprehensive income arising from the remeasurement of the net liabilities or changes in net assets of the defined
第32页深圳南山热电股份有限公司2021年度审计报告
benefit plan of the investee.If other investors’ capital increases in the subsidiary results in a decline in the Company's
shareholding ratio and thus loss of control power accounting shall be conducted in accordance
with the above principles.* Dispose subsidiary step-by-step
When the Company disposes of equity investment in a subsidiary by a stage-up approach with
several transactions until the control over the subsidiary is lost these several transactions related
to the disposal of equity investment in a subsidiary are accounted for as transactions in a basket
when the terms conditions and economic impacts of these several transactions meet the following
one or more conditions:
i. these transactions are entered into at the same time or after considering their impacts on each
other;
ii. these transactions as a whole can reach complete business results;
iii the occurrence of a transaction depends on at least the occurrence of an other transaction;
iv.an individual transaction is not deemed as economic but is deemed as economic when
considered with other transactions.When several transactions related to the disposal of equity investment in a subsidiary until the control over the
subsidiary is lost fall within transactions in a basket each of which is accounted for as disposal of a subsidiary
with a transaction until the control over a subsidiary is lost; however the different between the amount of disposal
prior to the loss of control and the net assets of a subsidiary attributable to the disposal investment shall be
recognized as other comprehensive income in consolidated financial statements and transferred to profit or loss for
the period at the time when the control is lost.If the transactions that dispose of the equity investment in the subsidiary until the loss of control
do not belong to the package transaction before the loss of control the relevant policies for partial
disposal of the equity investment in the subsidiary shall be accounted for without losing control.When the control right is lost the accounting treatment shall be carried out according to the
general treatment method for disposing of the subsidiary.
(3) Purchase of minority shares in subsidiaries
The difference between the Company's newly acquired long-term equity investment due to the
purchase of minority shares and the net assets share calculated continuously by the subsidiary
from the date of purchase (or merger date) in accordance with the calculation of the newly
increased shareholding ratio adjust the equity premium in the capital reserve in the consolidated
balance sheet if the equity premium in the capital reserve is insufficient to offset adjust the
retained earnings.
第33页深圳南山热电股份有限公司2021年度审计报告
(4) Partial disposal of equity investment in subsidiaries without losing control
The difference between the disposal cost obtained as a result of partial disposal of long-term equity investment in a
subsidiary without losing control and the net assets share calculated continuously by the subsidiary from the date
of purchase or merger corresponding to the disposal of the long-term equity investment adjust the equity premium
in the capital reserve in the consolidated balance sheet if the equity premium in the capital reserve is insufficient
to offset adjust the retained earnings.
(7)Classification of joint arrangement and accounting treatment
Joint arrangement is divided into joint operation and joint venture.As a joint party of the joint arrangement it is a joint operation when the Company enjoys assets
related to the arrangement and bears the liabilities related to the arrangement.The company confirms the following items related to the share of interests in its joint operations and in
accordance with the provisions of the relevant accounting standards for accounting treatment:
(1) Recognize the assets held solely by the Company and recognize assets held jointly by the Company in
appropriation to the share of the Company;
(2) Recognize the obligations assumed solely by the Company and recognize obligations assumed jointly by the
Company in appropriation to the share of the Company;
(3) Recognize revenue from disposal of the share of joint operations of the Company;
(4) Recognize fees solely occurred by Company;
(5) Recognize fees from joint operations in appropriation to the share of the Company.
Accounting policy for the joint venture investment found more in (13) Long-term equity
investment under Note III.
(8) Determination criteria of cash and cash equivalent
While preparing the cash flow statement the stock cash and savings available for payment at any
time are recognized as cash. The investments meets the follow four conditions at the same time are
recognized as cash equivalent that is short-term (normally fall due within three months from the
date of acquisition) and highly liquid investments held the Group which are readily convertible
into known amounts of cash and which are subject to insignificant risk of value change.
(9)Foreign currency business and foreign currency statement translation
1.Foreign currency business
Foreign currency business uses the spot exchange rate on the transaction date as the conversion
rate to convert foreign currency amounts into RMB for accounting.The balance of foreign currency monetary items at the balance sheet date is converted at the spot
第34页深圳南山热电股份有限公司2021年度审计报告
exchange rate on the balance sheet date the resulting exchange difference is included in current
profit and loss except that the exchange difference arising from foreign currency special
borrowings related to the acquisition or construction of assets eligible for capitalization is disposed
with the principle of borrowing expenses capitalization.
2. Foreign currency statement translation
Assets and liabilities in the balance sheet are converted at the spot exchange rate on the balance
sheet date; the owners' equity items are converted at the spot exchange rate at the time of
occurrence except for the "undistributed profit" item. The income and expense items in the
income statement are converted at the spot exchange rate on the transaction date.When disposing of an overseas operation the translation difference in the foreign currency financial statements
related to the overseas operation is transferred from the owner's equity item to the disposal of current profit or loss.
(10) Financial instrument
Financial instrument consist of financial assets financial liability and equity instrument.
1.Classification of financial instrument
Based on the Company's business model for managing financial assets and the contractual cash
flow characteristics of financial assets financial assets are classified as the financial assets
measured at amortized cost the financial assets (debt instruments) measured at fair value and
whose changes are included in other comprehensive income and the financial assets measured at
fair value and whose changes are included in current profit and loss at initial recognition.Business model to collect the contractual cash flow and the contractual cash flow is only the
payment of the principal and the interest based on the outstanding principal amount is classified
as a financial asset measured at amortized cost; business model to collect the contractual cash flow
and sell the financial asset and the contractual cash flow is only the payment of principal and the
interest based on the outstanding principal amount is classified as a financial asset measured at
fair value and whose changes are included in other comprehensive income (debt instruments);
other financial assets other than these are classified as financial assets measured at fair value and
whose changes are included in the current profit and loss.For a non-tradable equity instrument investment the Company determines at the time of initial
recognition whether to designate it as a financial asset (equity instrument) measured at fair value
and whose changes are included in other comprehensive income.At the time of initial recognition financial liabilities are classified into financial liabilities that are measured at fair
value and whose changes are included in the current profit and loss and financial liabilities that are measured at
第35页深圳南山热电股份有限公司2021年度审计报告
amortized cost.A financial liability that meets one of the following conditions can be designated as a financial
liability measured at fair value and whose changes are included in current profit and loss at initial
measurement:
1) This designation can eliminate or significantly reduce accounting mismatches.
2) In accordance with the corporate risk management or investment strategy stated in formal written documents
make management and performance evaluation to financial liability portfolios or financial assets and financial
liability portfolios based on fair value and report to the key manageme nt personnel within the enterprise based on
this.
3) The financial liability includes embedded derivatives that need to be split separately.
According to the above conditions the financial liabilities designated by the Company mainly include: (Specific
description of the designated situation)
2. Recognition basis and measurement method of financial instruments
(1) Financial assets measured at amortized cost
Financial assets measured at amortized cost include bills receivable accounts receivable other
receivables long-term receivables debt investment etc. which are initially measured at fair value
and related transaction costs are included in the initially recognized amount; accounts receivable
excluding significant financing components and accounts receivable with financing components
not exceeding one year that the Company decides not to consider are initially measured at the
contract transaction price.The interest calculated by using the effective interest method during the holding period is included
in the current profit and loss.When taking back or disposing the difference between the cost obtained and the book value of the financial asset
is included in the current profit and loss.
(2) Financial assets (debt instrument) measured at fair value and whose changes are reckoned into
other comprehensive income
The financial assets (debt instrument) measured at fair value and whose changes are reckoned into
other comprehensive income consist of receivable financing and other debt investment and
initially measured at fair value relevant transaction fees are included in initial recognized amount.The financial assets are subsequently measured at fair value and the fair value changes are
reckoned into other comprehensive income except for the interest impairment loss or gain and
exchange gain or loss calculated by actual interest rate method.Upon termination of the recognition the accumulated gains or losses previously included in other
第36页深圳南山热电股份有限公司2021年度审计报告
comprehensive income shall be transferred out and reckoned into current profit and loss.
(3) Financial assets (equity instrument) measured at fair value and whose changes are reckoned
into other comprehensive income
The financial assets (equity instrument) measured at fair value and whose changes are reckoned
into other comprehensive income consist of the equity instrument investment etc. and initially
measured at fair value relevant transaction fees are included in initial recognized amount. The
financial assets are subsequently measured at fair value and the fair value changes are reckoned
into other comprehensive income. The dividend obtained should reckoned into current
gains/losses.Upon termination of the recognition the accumulated gains or losses previously included in other
comprehensive income shall be transferred out and reckoned into retained earnings.
(4) Financial assets measured at fair value and whose changes are reckoned into current
gains/losses
The financial assets measured at fair value and whose changes are reckoned into current
gains/losses consist of trading financial assets derivative financial assets and other non-current
financial assets etc. and initially measured at fair value relevant transaction fees are included in
current gains/losses. The financial assets are subsequently measured at fair value and the fair
value changes are reckoned into current gains/losses.
(5) Financial liability measured at fair value and whose changes are reckoned into current
gains/losses
The financial liability measured at fair value and whose changes are reckoned into current
gains/losses consist of trading financial liability and derivative financial liability etc. and initially
measured at fair value relevant transaction fees are included in current gains/losses. The financial
liabilities are subsequently measured at fair value and the fair value changes are reckoned into
current gains/losses.Upon termination of the recognition the difference between its book value and the consideration
paid is included in the current gains/losses.
(6) Financial liability measured at amortized cost
The financial liabilities measured at amortized cost consist of short-term loans note payable
account payable other account payable long-term loans bond payable and long-term account
payable and initially measured at fair value relevant transaction fees are included in initial
recognized amount.
第37页深圳南山热电股份有限公司2021年度审计报告
The interests calculated by effective interest rate method during the holding period is reckoned
into current gains/losses.Upon termination of the recognition the difference between consideration paid and the book value
of financial liability is reckoned into current gains/losses.
3. Recognition basis and measurement method for transfer of financial assets
In the event of financial asset transfer the Company shall assess the degree of risk and reward of retaining the
ownership of the financial asset and deal with the following circumstances respectively:
(1) Where almost all risks and rewards on the ownership of a financial asset are transferred the recognition of the
financial asset shall be terminated and the rights and obligations generated or retained in the transfer shall be
separately recognized as assets or liabilities.
(2) Where almost all risks and rewards on the ownership of a financial asset are retained the financial asset shall
continue to be recognized.
(3) Where virtually all risks and rewards on the ownership of a financial asset are neither transferred nor retained
(that is other conditions except for (1) and (2) of this Article) depending on whether it retains control of the
financial asset deal with the following circumstances respectively:
1) Where the control of such financial asset is not retained the recognition of the financial asset is terminated and
the rights and obligations generated or reserved in the transfer are identified as an asset or liability.
2) Where the control of such financial asset is retained the relevant financial assets shall continue to be recognized
according to the extent of its continued involvement in the transferred financial assets and the relevant liabilities
shall be recognized accordingly. The extent of continued involvement in the transferred financial assets refers to
the extent of the risk or reward of changes in the value of the transferred financial asset assumed by the Company.When judging whether the financial asset transfer meets the termination of recognition of the said financial asset
adopt the principle of substance over form. The company divides the financial asset transfer into overall transfer
and partial transfer of financial asset.
(1) Where the overall transfer of financial assets meets the conditions for recognizing the termination the
difference between the following two amounts shall be recorded into the profits and losses of the current period:
1) The carrying amount of the transferred financial asset on the date of the termination of recognition.
2) The sum of the consideration received by the transfer of financial assets and the amount corresponding to the
portion of which the recognition is terminated of the accumulated amount of changes in fair value originally
included in other comprehensive income (The financial assets involved in transfer are measured at fair value and
第38页深圳南山热电股份有限公司2021年度审计报告
their changes are included in other comprehensive income).
(2) Where the financial asset is partially transferred and the transferred portion overall meets the conditions for
recognizing the termination the carrying amount of overall financial asset before transfer shall be apportioned
between the portion to be terminated from recognition and the portion continued to be recognized (In such
circumstances the retained service assets shall be regarded as a portion of the financial assets continuing to be
recognized) in accordance with their relative fair value on the transfer date and the difference between the
following two amounts shall be recorded into the profits and losses of current period.
1) The carrying amount of the portion on the date of the termination of recognition.
2) The sum of the consideration received from the portion of which the recognition is terminated and the amount
corresponding to the portion of which the recognition is terminated of the accumulated amount of changes in fair
value originally and directly included in other comprehensive income (The financial assets involved in transfer are
measured at fair value and their changes are included in other comprehensive income).If the transfer of financial assets does not meet the conditions for derecognition the financial assets are
continuously recognized and the consideration received is recognized as a financial liability.
4. Termination recognition of financial liability
Where the current obligation of a financial liability have been discharged in whole or in part the
recognition of the financial liability or part thereof shall be terminated; If the Company entered
into an agreement with its creditors to replace its existing financial liabilities with the new
financial liability and the contract terms of the new financial liabilities and the existing financial
liabilities are substantially different the existing financial liabilities shall be terminated for
recognition and the new ones shall be recognized at the same time.As for substantive changes made to the contract terms (in whole or in part) of the existing
financial liabilities the existing financial liabilities (or part of it) will be terminated for recognition
and the financial liabilities after term revision will be recognized as a new financial liability.When a financial liability is derecognized in whole or in part the difference between the book
value of the financial liability derecognized and the consideration paid (including the non-cash
assets transferred out or the new financial liabilities assumed) is included in the current profit and
loss.If the Company repurchases part of the financial liabilities the entire book value of the financial
liabilities will be allocated on the repurchase date according to the relative fair value of the
continuing recognition part and the derecognition part. The difference between the book value
allocated to the derecognition part and the consideration paid (including the transferred non-cash
第39页深圳南山热电股份有限公司2021年度审计报告
assets or assumed new financial liabilities) is included in the current profit and loss.
5. Methods for determining the fair value of financial assets and financial liabilities
For financial instruments that have an active market their fair values are determined by using
quotes in the active market. For financial instruments that do not have an active market valuation
techniques are used to determine their fair values. In the valuation the Company adopts valuation
techniques that are applicable under the current circumstances and have sufficient available data
and other information support chooses the input values consistent with the characteristics of
assets or liabilities considered by market participants in the transactions of related assets or
liabilities and prioritizes the relevant observable input values. The Company uses unobservable
input values only if the relevant observable input values cannot be obtained or are not practicable.
6. Test methods and accounting treatment methods for impairment of financial assets
The Company considers all reasonable and evidence-based information including
forward-looking information and estimates the expected credit losses of financial assets measured
at amortized cost by the single or combined way and financial assets (debt instruments) measured
at fair value and whose changes are included in other comprehensive income. The measurement of
expected credit losses depends on whether a significant increase in credit risk has occurred since
the initial recognition of a financial asset.If the credit risk of the financial instrument has increased significantly since initial recognition the
Company shall measure its loss provision at an amount equivalent to the expected credit loss
throughout the life of the financial instrument. If the credit risk of the financial instrument has not
increased significantly since initial recognition the Company shall measure its loss provision at an
amount equivalent to the expected credit loss of the financial instrument in the next 12 months.The increased or reversed amount of the loss provision thus formed shall be included in the
current profit and loss as impairment losses or gains.Usually the Company considers that the credit risk of the financial instrument has increased
significantly when it is overdue for more than 30 days unless there is conclusive evidence that the
credit risk of the financial instrument has not increased significantly after initial recognition.If the credit risk of a financial instrument at the balance sheet date is low the Company will
consider that the credit risk of the financial instrument has not increased significantly since initial
recognition.Regarding the note receivable account receivables and receivables financing whether or not it
第40页深圳南山热电股份有限公司2021年度审计报告
contains a significant financing component the Company always measures its loss provisions at
an amount equivalent to the expected credit loss throughout the duration.For lease receivables and long-term receivables formed by the company through sales of goods or
rendering of services the Company always chooses to measure the loss reserves at an amount
equivalent to expected credit losses during the entire duration.For notes receivable accounts receivable other receivables financing of accounts receivable and long-term
receivables with objective evidence showing that there is impairment and is applicable to individual assessment
perform separate impairment tests confirm expected credit losses and make provisions for impairment; for notes
receivable accounts receivable other receivables and financing of accounts receivable for which there is no
objective basis for impairment or when there is insufficient evidence to assess expected credit losses at a
reasonable cost at the level of individual instruments the Company refers to historical credit loss experience
combines with current conditions and judgments on future economic conditions and divides the notes receivable
accounts receivable other receivables financing of accounts receivable and long-term receivables into several
portfolios based on the characteristics of credit risk and calculates the expected credit loss on the basis of the
portfolio. Details as follows:
(1)Note receivables
Name of the combination Method of measuring credit loss
For notes receivable classified as bank acceptance portfolio the
management appraises that such payments have low credit risks and
Bank acceptance bill of state-owned banks
low expected credit loss rate and should make no provision for
impairment.
(2)Account receivable
Name of the combination Method of measuring credit loss
Regarding accounts receivable divided into power transactions
Electricity transaction receivable
engineering operation and maintenance and environmental
Receivable for engineering operation and protection services referring to historical credit loss experience
maintenance and combined with current conditions and forecasts of future
economic conditions the management evaluates that such payments
have low credit risk and low expected credit loss rate so no
Environmental protection labor receivables
impairment provision is made; unless there is evidence that the
credit risk of a certain receivable is relatively large.
(3)Other account receivable
Name of the combination Method of measuring credit loss
Combination of the export tax rebate VAT
rebate upon levy The company classifies the payments tax refunds receivable and
collection and withholding payments from subsidiaries within the
Combination of the deposit margin reserve
scope of accounts receivable consolidation that have no significant
Other vary receivable and temporary recovery risks into other portfolios and no bad debt provision is
payment in addition to the above made.combination
第41页深圳南山热电股份有限公司2021年度审计报告
(4)Receivable financing
Name of the combination Method of measuring credit loss
Bank acceptance bill of the bank with With reference to historical credit loss experience combined with
lower credit risk current conditions and forecasts of future economic conditions the
expected credit loss is calculated through the default risk exposure
Trade acceptance and the expected credit loss rate of the entire duration.
(11) Inventory
1. Categories of inventory
Inventory consists of fuels and raw materials etc.
2. Valuation method of delivered inventory
The inventories are valued on a weighted average basis at the time of delivery.
3.Basis for determining the net realizable value of different types of inventories
For inventory of products that are directly used for sale such as finished products inventory
products and materials for sale in the normal production and operation process the amount after
subtracting the estimated selling expenses and relevant taxes from the estimated selling price shall
be used to determine the net realizable value. For inventory of materials that need to be processed
in the normal production and operation process the amount after subtracting the estimated cost
estimated sales expense and related taxes at the time of completion from the estimated selling
price of the finished product shall be used to determine the net realizable value. The net realizable
value of the inventory held for the execution of the sales contract or labor service contract is
calculated on the basis of the contract price. If the quantity of the inventory held is more than the
quantity ordered by the sales contract the net realizable value of the excess inventory is calculated
based on the general sales price.At the end of the period provision for inventory depreciation is made based on a single inventory item; but for
inventory with a large quantity and low unit price provision for inventory depreciation is made based on the
inventory category. For inventories that are related to the product series produced and sold in the same region have
the same or similar end-use or purpose and are difficult to measure separately from other items the inventory
depreciation reserve shall be accrued in a consolidated manner.
4. Inventory system
Perpetual inventory system required
5. Amortization method of low-value consumables and packaging
(1) Low-value consumables-one pass method
第42页深圳南山热电股份有限公司2021年度审计报告
(2) Packaging- one pass method
(12)Contractual assets
If the Company has transferred goods to customers and has the right to receive consideration and the right depends
on factors other than the time lapses it is recognized as contractual assets. The Company's unconditional (that is
only depending on the time lapses) right to collect consideration from customers are separately listed as
receivables.The Company's determination method and accounting treatment method for the expected credit loss of contract
assets are detailed in Note III/(10) 6. Impairment of financial instruments.
(13) Long-term equity investments
1. Criteria judgement for joint control and significant influence
Joint control is the Company’s contractually agreed sharing of control over an arrangement which relevant
activities of such arrangement must be decided by unanimously agreement from parties who share control. Where
the Company and other joint ventures exercise joint control over the investee and enjoy the rights to the net assets
of the investee the investee is a joint venture of the Company.Significant influence is the right of the Company to participate in the financial and operation
decision-making of an enterprise but not to control or jointly control the formulation of such
policies with other parties. Where the Company is able to exert significant influence on the
investee the investee shall be a joint venture of the Company.
2. Determination of initial investment cost
(1) Long-term equity investment resulting from enterprise combination
Enterprise combination under the same control: If the Company pays cash transfers non-cash
assets or assumes debt and issues equity securities as the consideration for the merger the share
of the book value of the owner's equity of the combined party in the consolidated financial
statements of the ultimate controlling party on the combining date shall be used as the initial
investment cost of long-term equity investment. If it is possible to control the investee under the
same control due to additional investments etc. the initial investment cost of long-term equity
investment shall be determined based on the share of the book value of the net assets of the
combined party in the consolidated financial statements of the ultimate controlling party on the
merger date. The difference between the initial investment cost of the long-term equity investment
on the merger date and the sum of the book value of the long-term equity investment before the
merger plus the book value of the new share payment consideration obtained on the merger date
adjusts the equity premium. If the equity premium is insufficient to be offset the retained earnings
第43页深圳南山热电股份有限公司2021年度审计报告
shall be offset.Business combination not under the same control: The Company uses the combination cost
determined on the purchase date as the initial investment cost of the long-term equity investment.If it is possible to exercise control over an investee that is not under the same control due to
additional investments etc. the sum of the book value of the original equity investment plus the
newly increased investment cost is used as the initial investment cost calculated by the cost
method.
(2) Long-term equity investment obtained through other methods
For a long-term equity investment obtained by paying cash the actually paid purchase price is
taken as the initial investment cost.For a long-term equity investment obtained by issuing equity securities the fair value of the issued
equity securities is taken as the initial investment cost.On the premise that the non-monetary asset exchange has commercial substance and that the fair value of the
assets swapped in or out can be reliably measured the initial investment cost of the long-term equity investment
swapped in by non-monetary assets exchange is determined by the fair value of assets swapped out and the
relevant payable taxes and fees unless there is conclusive evidence that the fair value of the assets swapped in is
more reliable; for non-monetary assets exchange that do not meet the above preconditions the book value of the
assets swapped out and the relevant taxes and fees payable are used as the initial investment cost of the long-term
equity investment swapped in.For a long-term equity investment obtained through debt restructuring its entry value is determined based on the
fair value of the abandoned creditor's rights and other costs such as taxes directly attributable to the asset and the
difference between the fair value of the abandoned creditor's rights and the book value is included in the current
profit and loss.
3. Follow-up measurement and gain/loss recognition
(1) Long-term equity investment measured at cost
The long-term equity investment in subsidiaries shall be measured at cost. In addition to the actual prices or the
announced but yet undistributed cash dividend or profit in consideration valuation the current investment return is
recognized by the announced cash dividend or profit by the invested units.
(2) Long-term equity investment measured at equity
The long-term equity investment in associated enterprise and joint ventures shall be measured at
cost. If the initial investment cost is greater than than the share of fair value of the invested entity’s
identifiable net assets the initial investment cost of the long-term equity investment will not be
adjusted; if the initial investment cost is less than than the share of fair value of the invested
第44页深圳南山热电股份有限公司2021年度审计报告
entity’s identifiable net assets the difference shall reckoned in current gains/losses.The investment gain and other comprehensive income shall be recognized based on the
Company’s share of the net profits or losses and other comprehensive income made by the
investee respectively. Meanwhile the carrying amount of long-term equity investment shall be
adjusted. The carrying amount of long-term equity investment shall be reduced based on the
Group’s share of profit or cash dividend distributed by the investee. In respect of the other
movement of net profit or loss other comprehensive income and profit distribution of investee the
carrying value of long-term equity investment shall be adjusted and included in the owners’
equity.The Company shall recognize its share of the investee’s net profits or losses based on the fair values of the
investee’s individual separately identifiable assets at the time of acquisition after making appropriate adjustments
thereto during the accounting period and according to the accounting policy of the Company. During the period of
holding the investment the investee prepares the consolidated financial statements based on the net profit other
comprehensive income and the amount attributable to the investee in changes in other owners' equity in the
consolidated financial statements for business accounting.When the Company confirms that it should share the losses incurred by the investee it shall proceed in the
following order. Firstly write off the book value of the long-term equity investment. Secondly if the book value of
the long-term equity investment is not sufficient to offset the investment loss sha ll continue to be recognized
within the limit of the book value of long-term equity that substantially constitutes a net investment in the investee
and offset the book value of long-term receivables. Finally after the above-mentioned treatment if the enterprise
still bears additional obligations as stipulated in the investment contract or agreement the accrual liabilities are
recognized according to the estimated obligations and included in the current investment loss.
(3) Disposal of long-term equity investment
When disposing of a long-term equity investment the difference between its book value and the
actual purchase price is included in the current profit and loss.When disposing of a long-term equity investment accounted for by using the equity method use
the same basis as the investee directly disposes of related assets or liabilities and make accounting
treatment to the portion that was originally included in other comprehensive income according to
the corresponding proportion. The owner's equity recognized as a result of changes in other
owner's equity of the investee other than net profit or loss other comprehensive income and profit
distribution is carried forward to the current profit and loss on a pro rata basis except for other
comprehensive income arising from the remeasurement of the net liabilities or net assets changes
of the defined benefit plan by the investee.If the joint control or significant influence on the investee is lost due to the disposal of part of the
第45页深圳南山热电股份有限公司2021年度审计报告
equity investment etc. the remaining equity after disposal shall be calculated in accordance with
the financial instrument recognition and measurement standards and the difference between the
fair value and the book value on the day of losing the joint control or significant influence is
included in the current profit and loss. Other comprehensive income of the original equity
investment recognized due to using the equity method for accounting shall adopt the accounting
treatment on the same basis as the investee directly disposes of related assets or liabilities when
terminating the adoption of equity method for accounting. The owner's equity recognized as a
result of changes in the owner's equity other than net profit or loss other comprehensive income
and profit distribution of the investee is transferred to current profit and loss when terminating the
adoption of equity method for accounting.The control over the investee is lost due to the disposal of part of the equity investment and the capital increase in
the subsidiary by other investors resulting in a decline in the shareholding ratio of the Company in preparing
separate financial statements the remaining equity interest which can apply common control or impose significant
influence over the investee shall be accounted for using equity method. Such remaining equity interest shall be
treated as accounting for using equity method since it is obtained and adjustment was made accordingly. For
remaining equity interest which cannot apply common control or impose significant influence over the investeel it
shall be accounted for using the recognition and measurement standard of financial instruments. The difference
between its fair value and carrying amount as at the date of losing control shall be included in profit or loss for the
current period.The disposed equity is obtained through business combination due to additional investment and other reasons
when preparing individual financial statements if the remaining equity after disposal uses cost method or equ ity
method for accounting the equity investments held before the acquisition date shall be carried forward in
proportion to other comprehensive income and other owner's equity recognized through equity method accounting;
For the remaining equity interest after disposal accounted for using the recognition and measurement standard of
financial instruments other comprehensive income and other owners’ equity shall be fully transferred.
(14) Investment real estate
Investment real estate is defined as the real estate with the purpose to earn rent or capital appreciation or both
including the rented land use rights and the land use rights which are held and prepared for transfer after
appreciation the rented buildings. (Including buildings for lease after self-construction or development activities
completed and buildings under construction or development for lease in the future)
Investment real estate of the Company are measured at cost model. The Investment real estate-
rental buildings measured at cost model has the same depreciation policy as fixed assets the land
use right for lease is exercise the amortization policy as intangible assets.
(15) Fixed assets
1. Recognition conditions for the fixed assets
第46页深圳南山热电股份有限公司2021年度审计报告
Fixed assets is defined as the tangible assets which are held for the purpose of producing goods
providing services lease or for operation & management and have more than one fiscal year of
service life. Fixed assets are recognized when the following conditions are simultaneously met:
(1) The economic benefits with the fixed assets concerned are likely to flow into the enterprise;
and
(2) cost of the fixed assets can be measured reliably.
2. Depreciation method
The depreciation of fixed assets is calculated and accrued by the straight-line depreciation method and the
depreciation rate is determined according to the fixed asset category estimated useful life and estimated net
residual value rate. If the service life of each component of the fixed asset is different or the economic benefits are
provided to the enterprise in different ways different depreciation rates or depreciation met hods shall be selected
and depreciation shall be calculated separately.Depreciation method depreciation period residuals rate and annual depreciation rate for all kinds
of fixed assets are as follows:
Depreciation period Residuals Annual depreciation
Category Depreciation method
(Year) rate(%) rate (%)
Houses and
Straight-line 20 years 10 4.5
buildings
Equipment-fuel
The work quantity
machinery 10
method
sets(Note)
Equipment (fuel
machinery sets Straight-line 15-20 years 10 4.5-6
excluded)
Transportation tools Straight-line 5 years 10 18
Other Straight-line 5 years 10 18
Note: gas turbine generator set is provided with depreciation under workload method namely to determine the
depreciation amount per hour of gas turbine generator set based on equipment value predicted net remaining value
and predicted generation hours. Details are set out as follows:
Name of the Company Fixed assets Depreciation amount (RMB/Hour)
Generating unit 1# 538.33
The Company
Generating unit 3# 601.20
Generating unit 10# 520.61
New Power
4246.00
Generating unit 1#
Zhongshan Electric Power
4160.83
Generating unit 3#
第47页深圳南山热电股份有限公司2021年度审计报告
(16) Construction in progress
Construction in progress take the necessary expenditures incurred before the construction of the asset reaching the
expected usable state as the entry value of the fixed assets. If the constructed fixed assets have reached the
expected usable state of the project but the final accounts for completion have not yet been processed from the
date of reaching the expected usable state the constructed fixed assets will be transferred to the fixed assets at the
estimated value based on the project budget cost or actual project cost and accrue the depreciation of fixed assets
according to the Company's fixed asset depreciation policy and adjust the original temporary estimated value
according to the actual cost after completing the final accounts but not adjust the original accrued depreciation
amount.
(17) Borrowing expenses
1.Recognition principle of the capitalization of borrowing expenses
Borrowing expenses include interest amortization of discounts or premiums related to borrowings
ancillary costs incurred in connection with the arrangement of borrowings and exchange
differences arising from foreign currency borrowings.If the borrowing expenses incurred by the company can be directly attributable to the acquisition construction or
production of assets that meet the capitalization conditions they shall be capitalized and included in the cost of the
relevant assets; other borrowing expenses shall be recognized as expenses based on the amount incurred when
incurred and included in current profit and loss.Assets qualified for capitalization refers to the fixed assets investment real estate inventory and other assets that
require a considerable period of time for purchase construction or production activities to reach the intended use
or sale status.The capitalization of borrowing expenses starts when the following conditions are met at the same
time:
(1) Asset expenditures have occurred including expenditures in the form of paying cash
transferring non-cash assets or assuming interest-bearing debts for the acquisition construction or
production of assets that meet the conditions for capitalization;
(2) borrowing expenses have incurred;
(3) The acquisition construction or production activities necessary for the assets to reach the
intended usable or saleable state have begun.
2. Period of capitalization of borrowing expenses
The period of capitalization refers to the period from the point when the capitalization of the
borrowing expenses starts to the point when the capitalization is stopped. The period during which
the capitalization of the borrowing expenses is suspended is not included.
第48页深圳南山热电股份有限公司2021年度审计报告
When the acquisition construction or production of assets that meet the capitalization conditions
reaches the intended usable or saleable state the capitalization of borrowing expenses shall cease.When part of projects in the acquisition construction or production of assets that meet the
capitalization conditions are completed separately and can be used independently the
capitalization of the borrowing expenses of the part of the assets shall be stopped.If each part of the assets purchased constructed or produced is completed separately but cannot
be used or sold until the entirety is completed the capitalization of borrowing expenses shall be
stopped when the entire asset is completed.
3. The period of suspension of capitalization
If an abnormal interruption occurs during the acquisition construction or production of an asset
that meets the capitalization conditions and the interruption lasts for more than 3 months the
capitalization of borrowing expenses shall be suspended; if the interruption is the necessary
procedure for the acquisition construction or production of assets that meet the capitalization
conditions to reach the intended usable state or saleable state the borrowing expenses shall
continue to be capitalized. The borrowing expenses incurred during the interruption period shall be
recognized as the current profit and loss and the borrowing expenses shall continue to be
capitalized until the acquisition construction or production of the asset restarts.
4. Calculation method of capitalization rate and capitalization amount of borrowing
expenses
For special loans borrowed for the acquisition construction or production of assets that meet the
capitalization conditions the amount after subtracting the interest income obtained by depositing
the unused borrowing funds in the bank or the investment income obtained from temporary
investment from the actual borrowing expenses incurred in the current period of the special loans
is used to determine the capitalized amount of borrowing expenses.For general borrowings used for the acquisition construction or production of assets that meet the capitalization
conditions the amount of borrowing expenses that should be capitalized for general borrowings is calculated and
determined based on the weighted average of the asset expenditures of the accumulated asset expenditure
exceeding the part of the special borrowings multiplied by the capitalization rate of the general borrowings used.The capitalization rate is calculated and determined based on the weighted average interest rate of general
borrowings.
(18) Intangible assets
1. Valuation methods of intangible assets
第49页深圳南山热电股份有限公司2021年度审计报告
(1) When the company obtains intangible assets they shall be initially measured at cost;
The cost of outsourcing intangible assets includes the purchase price relevant taxes and other
expenditures incurred to make the assets reach the intended purpose. If the purchase price of
intangible assets have a delay in payment beyond normal credit conditions and is of financing
nature the cost of intangible assets is determined on the basis of the current value of the purchase
price.For intangible assets used by the debtor to repay the debt through debt restructuring the entry
value is determined by the fair value of the waived creditor’s rights and other costs that can be
directly attributable to the tax incurred to make the asset reach its intended use and the difference
between the fair value and the book value of the waived creditor's rights is included in the current
profit and loss.On the premise that the non-monetary asset exchange has commercial substance and the fair value
of the swap-in assets and the swap-out assets can be reliably measured the entry value of the
swap-in intangible assets through non-monetary assets exchange is determined on the basis of the
fair value of the swap-out assets unless there is conclusive evidence that the fair value of the
swap-in assets is more reliable; for non-monetary asset exchanges that do not meet the above
premises the book value of the swap-out assets and the relevant taxes and fees payable shall be
used as the cost of the swap-in intangible assets but not recognize the profit and loss.
(2) Follow-up measurement
Analyze and judge the service life of intangible assets when acquiring them.Intangible assets with a limited service life are amortized on a straight-line basis within the period
of economic benefits brought to the enterprise; or the intangible assets shall be regarded as with an
uncertain service life if the period of economic benefits brought by intangible assets cannot be
foreseen and shall not be amortized.
2. Estimated service life of intangible assets with limited service life
An intangible asset with a limited useful life shall be amortized evenly over the expected useful
life using the straight-line method for the original value minus the estimated net residual value and
the accumulated amount of provision for impairment from the time it is available for use.Intangible assets with uncertain service life shall not be amortized.At the end of the period review the useful life and amortization method of intangible assets with a
limited useful life. If there is any change it will be treated as a change in accounting estimates.
3. Judgment basis for intangible assets with uncertain service life and procedures for
第50页深圳南山热电股份有限公司2021年度审计报告
reviewing their service life
To review the service life of an intangible asset with a uncertain service life if there is evidence
that the period of economic benefits brought by the intangible asset is predictable estimate its
service life and amortize according to the amortization policy for intangible assets with limited
service life.
4. Specific criteria for dividing the research phase and the development phase
The company's internal research and development project expenditures are divided into research
phase expenditures and development phase expenditures.Research phase: it’s the phase of planned investigations and research activities with originality to
acquire and understand new scientific or technical knowledge etc.Development phase: it’s the phase to apply the research results or other knowledge to a certain
plan or design so as to produce new or substantially improved materials devices products and
other activities before commercial production or use.Specific criteria for expenditure in the development phase to conform to capitalization
Expenditures in the development stage of internal research and development projects are recognized as intangible
assets when the following conditions are met simultaneously:
1. It is technically feasible to complete the intangible asset so that it can be used or sold;
2. There is an intention to complete the intangible asset and use or sell it;
3. The way that intangible assets generate economic benefits including the ability to prove that the products
produced by the intangible assets are marketable or the intangible assets themselves are marketable and the
intangible assets will be used internally which can prove their usefulness;
4. There are sufficient technical financial and other resource supports to complete the development of the
intangible asset and have the ability to use or sell the intangible asset;
5. The expenditure attributable to the development stage of the intangible asset can be reliably measured.
(19) Impairment of long-term assets
Long-term equity investments investment real estate measured by the cost model fixed assets
construction in progress intangible assets with limited service life and other long-term assets that
show signs of impairment on the balance sheet date shall be tested for impairment. If the
impairment test result shows that the recoverable amount of an asset is less than its carrying
amount the impairment provision will be made according to the difference and recognized as an
impairment loss. The recoverable amount of an asset is the higher of its fair value less costs of
disposal and the present value of the future cash flows expected to be derived from the asset.Provisions for assets impairment shall be made and recognized for the individual asset. If it is not
possible to estimate the recoverable amount of the individual asset the Group shall determine the
recoverable amount of the asset group to which the asset belongs. The asset group is the smallest
第51页深圳南山热电股份有限公司2021年度审计报告
group of assets capable of generating cash flows independently.As for the goodwill intangible assets with an indefinite useful life and intangible assets beyond
working conditions the impairment tests shall be carried out at least at the end of each year.The Company conducts a goodwill impairment test. The book value of the goodwill formed by the
business combination shall be allocated to the relevant asset group according to a reasonable
method from the date of purchase; if it is difficult to allocate to the relevant asset group it shall be
allocated to the relevant portfolio of asset groups. The Company allocates the book value of
goodwill based on the relative benefits that the relevant asset group or portfolio of asset groups
can obtain from the synergies of the business combination and conducts a goodwill impairment
test on this basis.When conducting an impairment test on a related asset group or portfolio of asset groups that contains goodwill if
there are signs of impairment for an asset group or portfolio of asset groups related to goodwill the asset group or
portfolio of asset groups that does not contain goodwill should be tested first calculate the recoverable amount
and compare it with the relevant book value to confirm the corresponding impairment loss. Then conduct an
impairment test on the asset group or portfolio of asset groups that contains goodwill and compare the book value
of these related asset groups or asset group portfolios (including the book value of the allocated goodwill) with the
recoverable amount if the recoverable amount of the relevant asset group or the asset group portfolio is lower than
its book value the impairment loss of goodwill shall be recognized.Once the above assets impairment loss is recognized it will not be carried back in future
accounting periods.
(20) Long-term deferred expenses
The Company's long-term deferred expenses refer to the expenses that have been paid but the benefit period is
more than one year (excluding one year). Long-term deferred expenses are amortized in installments according to
the benefit period of the expense items. If the long-term deferred expense item cannot benefit the future accounting
period all the amortized value of the item that has not been amortized shall be transferred to the current profit and
loss.
(21)Contractual liabilities
Contractual liabilities refer to the Company's obligation to transfer goods or services to customers for
consideration received or receivable from customers. Contractual assets and contractual liabilities under the same
contract are presented in net amount.
(22) Staff remuneration
1. Accounting treatment of a short-term compensation
第52页深圳南山热电股份有限公司2021年度审计报告
During the accounting period when employees provide services to the Company the Company
recognizes the actual short-term compensation as a liability and includes it in the current profit and
loss or the cost of related assets.The social insurance premiums and housing provident fund paid by the Company for employees
as well as the labor union funds and employee education funds drawn in accordance with the
regulations of which the corresponding employee compensation amount shall be calculated and
determined according to the specified accrual basis and accrual ratio during the accounting period
when the employees provide services to the Company.If employee welfare expenses are non-monetary and can be measured reliably they shall be
measured at fair value.
2. Accounting treatment methods for post-employment benefits
(1) Defined contribution plans
The Company pays basic endowment insurance and unemployment insurance for employees in
accordance with the relevant regulations of the local government. During the accounting period
when employees provide services to the Company the amount payable is calculated based on the
local payment base and proportion recognized as a liability and included in current profit and loss
or related asset cost.In addition to basic endowment insurance the Company has also established an enterprise annuity
payment system (supplementary endowment insurance)/enterprise annuity plan in accordance with
the relevant policies of the national enterprise annuity system. The Company pays a certain
percentage of the total wages of employees to the local social insurance agency/annuity plan and
the corresponding expenditure is included in the current profit and loss or the cost of related
assets.
(2) Defined benefit plans
The Company assigns the welfare obligations arising from the defined benefit plans to the period
during which the employees provide services according to the formula determined by the expected
cumulative welfare unit method and includes them in the current profit and loss or the cost of
related assets.The deficit or surplus formed by the present value of the defined benefit plan’s obligations minus
the fair value of the defined benefit plan’s assets is recognized as a defined benefit plan’s net
liabilities or net assets. If there is a surplus in the defined benefit plan the Company shall use the
lower of the surplus of the defined benefit plan and the asset ceiling to measure the net assets of
第53页深圳南山热电股份有限公司2021年度审计报告
the defined benefit plan.All defined benefit plans obligations including obligations expected to be paid within twelve
months after the end of the annual reporting period in which employees provide services are
discounted based on the market yield of the national debt matching with the obligation period and
currency of the defined benefit plan or the high-quality corporate bonds in an active market on the
balance sheet date.The service cost incurred by the defined benefit plan and the net interest of the net liabilities or net
assets of the defined benefit plan are included in the current profit and loss or the related asset cost;
the changes in net liabilities or net assets resulting from the remeasurement of defined benefit
plans are included in other comprehensive income and shall not be transferred back to profit or
loss in the subsequent accounting period and the part that was originally included in other
comprehensive income will be carried forward to undistributed profit within the scope of equity
when the original defined benefit plan is terminated.In the settlement of the defined benefit plan the difference between the present value of the
obligation of the defined benefit plan and the settlement price determined on the settlement date is
used to confirm the settlement gain or loss.
3. Accounting treatment methods for dismissal benefits
When the Company cannot unilaterally withdraw the dismissal benefits provided by the termination of the labor
relationship plan or redundancy proposal or when confirming the costs or expenses related to the reorganization
involving the payment of the dismissal benefits (the earlier of the two) recognize employee compensation
liabilities arising from dismissal benefits and include in the current profit and loss.
(23) Accrual liability
1. Recognition criteria
The obligations with contingencies concerned as litigation debt guarantee and contract in loss are
recognized as accrual liability when the following conditions are met simultaneously:
(1) the liability is the current liability that undertaken by the Company;
(2) the liability has the probability of result in financial benefit outflow; and
(3) the responsibility can be measured reliably for its value.
2. Measurement on vary accrual liability
The Company's accrual liabilities are initially measured based on the best estimate of the
expenditure required to perform the relevant current obligations.
第54页深圳南山热电股份有限公司2021年度审计报告
When determining the best estimate the Company comprehensively considers factors such as
risks uncertainties and time value of money related to contingencies. If the time value of money
has a significant impact the best estimate is determined after discounting the relevant future cash
outflows.The best estimates are handled separately in the following situations:
If there is a continuous range (or interval) for the required expenditure and the probability of
occurrence of various results within this range is the same the best estimate is determined
according to the middle value of the range that is the average number of the upper and lower
limits.There is no continuous range (or interval) for the required expenditure or although there is a
continuous range the possibility of occurrence of various results within the range is not the same
if the contingency involves a single item the best estimate shall be determined based on the
amount most likely to occur; if the contingency involves multiple items the best estimate shall be
calculated and determined according to various possible outcomes and related probabilities.If all or part of the expenditures required by the Company to settle the accrual liabilities are expected to be
compensated by a third party the compensation amount shall be separately recognized as an asset when it is
basically certain that it can be received and the confirmed compensation amount shall not exceed the book value
of the accrual liability.
(24) Revenue
General principles
The Company recognizes the income when it has fulfilled its performance obligations in the contract that is when
the customer has obtained control of the relevant goods or services. The performance obligation refers to the
commitment in the contract that the Group transfers clearly distinguishable goods or services to the customer.Obtaining control over related goods or services means being able to lead the use of the goods or the provision of
the service and obtain almost all of the economic benefits.For a performance obligation that meets one of the following conditions and is performed within a certain period
of time the Company recognizes revenue within a period of time according to the performance of the contract: (1)
The customer obtains and consumes the economic benefits brought by the Company's performance at the same
time as the Company fulfills the contract; (2) The customer can control the products under construction during the
performance of the Company; (3) The products produced during the performance of the Company have
irreplaceable uses and the Company has the right to collect payment for the accumulated performance part that has
been completed so far during the entire contract period. Otherwise the Company recognizes revenue at the point
when the customer obtains control of the relevant goods or services.Variable consideration
Some of the Company’s contracts with customers include sales rebates quantity discounts commercial discounts
performance bonuses and claims which forms variable consideration. The Company determines the best estimate
第55页深圳南山热电股份有限公司2021年度审计报告
of the variable consideration based on the expected value or the most likely amount but the transaction price that
includes the variable consideration does not exceed the amount that the accumulated recognized revenue is most
unlikely to be materially reversed when the relevant uncertainty is eliminated.Significant financing component
If there is a significant financing component in the contract the Company shall determine the transaction price
based on the amount payable in cash when the customer assumes control of the goods or services. The difference
between the transaction price and the contract consideration shall be amortized by the effective interest method
during the contract period.On the starting date of the contract if the company expects the customer to obtain control of the product and the
customer pays the payment within one year the significant financing component in the contract will not be
considered.Non-cash consideration
If the customer pays a non-cash consideration the Company shall determine the transaction price based on the fair
value of the non-cash consideration. If the fair value of the non-cash consideration cannot be reasonably estimated
the Company indirectly determines the transaction price by referring to the stand-alone selling price of the goods
promised to be transferred to the customer. If the fair value of non-cash consideration changes due to reasons other
than the form of consideration it shall be used as variable consideration for accounting treatment in accordance
with relevant regulations.Consideration payable to customers
For the consideration payable to customers the Company offsets the transaction price from the consideration
payable to the customer and offsets the current revenue at the time point of the later when the relevant revenue is
recognized and the promised payment of the customer consideration unless the consideration payable is to obtain
other clearly distinguished products from the customer.Sales with sales return clauses
For sales with a sales return clause when the customer obtains control of the relevant product our company
recognizes the revenue in accordance with the amount of consideration expected to be entitled to be collected due
to transfer of goods to customers (that is does not include the amount expected to be refunded due to sales returns)
and recognizes liabilities in accordance with the amount expected to be refunded due to sales returns. At the same
time according to the expected book value of the returned goods at the time of transfer the balance after deducting
the estimated cost of recovering the goods (including the value impairment of the returned goods) is recognized as
an asset and the net carry-over cost of the above asset cost is deducted according to the book value of the
transferred commodity at the time of transfer. On each balance sheet date re-estimate the future sales return
situation and if there is any change it will be treated as a change in accounting estimates.Sales with quality assurance clauses
For sales with quality assurance clauses if the quality assurance provides a separate service in addition to ensuring
that the goods or services sold to the customer meet the established standards the quality assurance constitutes a
single performance obligation. Otherwise the Company will make an accounting treatment for quality assurance
第56页深圳南山热电股份有限公司2021年度审计报告
responsibilities in accordance with the "Accounting Standards for Business Enterprises No. 13 - Contingencies".Principal and agent
The Company judges whether the Company’s identity is the principal responsible person or an agent at the time of
the transaction based on whether it has control over the product or service before the transfer of the product or
service to the customer. If the Company is able to control the products or services before transferring the
products or services to the customers the Company is the principal responsible person and the income is
recognized based on the total consideration received or receivable; otherwise the Company is the agent and the
income is recognized according to the amount of commission or handling fee expected to have the right to collect
the amount is determined according to the net amount of the total consideration received or receivable after
deducting the price payable to other related parties or according to the established commission amount or ratio.Sales with additional purchase options for customers
For sales with additional purchase options for customers the Company assesses whether the option provides
customers with a major right. If an enterprise provides a major right it shall be a single performance obligation
and the transaction price shall be allocated to the performance obligation in accordance with the relevant
provisions of the standards. When the customer exercises the purchase option in the future to obtain control of the
relevant commodity or when the option lapses the corresponding income shall be recognized. If the stand-alone
selling price of the customer's additional purchase option cannot be directly observed the Company shall
reasonably estimate after considering all relevant information such as the difference between the discounts that the
customer can obtain from exercising and not exercising the option the possibility of the customer exercising the
option etc.. Although the customer has additionally purchased the commodity option the price at the time when
the customer exercises the option to purchase the commodity reflects the stand-alone selling price of these
commodities and it should not be considered that the company has provided the customer with a major right.Grant intellectual property licenses to customers
If an intellectual property license is granted to a customer the Company assesses whether the intellectual property
license constitutes a single performance obligation in accordance with the relevant provisions of the standards and
if it constitutes a single performance obligation it shall further determine whether it will be performed within a
certain period of time or at a certain point in time.When the following conditions are met at the same time the relevant revenue is recognized as a performance
obligation performed within a certain period of time; otherwise the relevant revenue is recognized as a
performance obligation performed at a certain point in time:
(1) Contract requirements or customers can reasonably expect that the enterprise will engage in activities that have
a significant impact on the intellectual property rights;
(2) The activity will have a favorable or unfavorable impact on customers;
(3) The activity will not result in the transfer of a certain commodity to the customer.
After-sales repurchase transaction
For after-sales repurchase transactions the Company distinguishes the following two situations for accounting
treatment:
(1)If there is a repurchase obligation due to the existence of a long-term arrangement with the customer or the
Company enjoys the repurchase right the Company shall conduct the corresponding accounting treatment as a
第57页深圳南山热电股份有限公司2021年度审计报告
lease transaction or financing transaction. Among them if the repurchase price is lower than the original selling
price it shall be regarded as a lease transaction and shall be accounted for in accordance with the relevant
provisions of the standards; if the repurchase price is not lower than the original selling price it shall be regarded
as a financing transaction and the financial liabilities shall be confirmed when receiving the client's payment and
the difference between the payment and the repurchase price is recognized as interest expenses during the
repurchase period. If the Company fails to exercise the repurchase right upon maturity when the repurchase right
expires the financial liabilities is derecognized and the revenue is recognized at the same time.
(2)If the Company is obliged to repurchase commodities at the request of the customer it shall assess whether the
customer has a major economic motivation to exercise the right of claim on the commencement date of contract. If
the customer has a major economic motivation to exercise the right of claim the enterprise shall treat the after-sale
repurchase as a lease transaction or financing transaction and conduct accounting treatment in accordance with the
provisions of present article (1); otherwise the Company will treat it as a sales transaction with a sales return
clause and perform accounting treatments in accordance with relevant regulations of the standards.Customer's unexercised rights
If the Company receives advance payments from customers for sales of goods it shall first recognize the payments
as liabilities and then convert them into revenue when the relevant performance obligations are fulfilled. When the
advance payment does not need to be refunded and the customer may waive all or part of its contract rights the
Company expects to be entitled to obtain the amount related to the contract rights waived by the customer and the
above-mentioned amount shall be recognized as revenue in proportion to the mode in which the customer exercises
the contractual rights. Otherwise the Company can only convert the relevant balance of the above liabilities into
income when the possibility of the customer requesting it to perform the remaining performance obligations is
extremely low.Initial fee no need to be refunded
The initial fee collected by the Company from the customer on the commencement date of the contract (or close to
the commencement date) shall be included in the transaction price and it shall be assessed whether the initial fee is
related to the transfer of the promised goods to the customer. If the initial fee is related to the transfer of the
promised goods to the customer and the goods constitutes a single performance obligation the Company
recognizes the income at the transaction price allocated to the goods when transferring the goods. If the initial fee
is related to the goods promised to transfer to the customer but the goods does not constitute a single performance
obligation the Company will recognize the income at the transaction price allocated to the single performance
obligation when the single performance obligation containing the product is fulfilled. If the initial fee is not related
to the goods promised to transfer to the customer it shall be used as an advance payment for the goods to be
transferred in the future and shall be recognized as income when the goods is transferred in the future.If the Company has collected an initial fee that does not need to be refunded and should carry out initial activities
to perform the contract but these activities do not transfer the promised goods to the customer the initial fee is
related to the goods promised to be transferred in the future and should be recognized as revenue when
transferring the goods in the future and the Company does not consider these initial activities when determining
the progress of the contract. The Company’s expenditures for the initial activities shou ld be recognized as an asset
or included in the current profit and loss in accordance with the relevant provisions of the standards.Specific principles
第58页深圳南山热电股份有限公司2021年度审计报告
The Company recognizes the revenue when it fulfills its performance obligations in the contract that is when the
customer obtains control of the relevant goods or services. Obtaining control over related goods or services means
being able to lead the use of the goods or the provision of the service and obtain almost all of the economic
benefits from it.
(1) Commodity sales revenue
The sales contract between the Company and the customers usually only contains the performance obligation for
the transferred goods. The Company usually recognizes revenue at a certain point in time on the basis of
comprehensive consideration of the following factors: obtaining the current right to receive payment of the goods
the transfer of major risks and rewards in the ownership of the goods the transfer of the legal ownership of the
goods and the transfer of the physical asset of the goods the customer accepts the goods.Electricity sales revenue
The Company produces electricity through firepower and realizes sales through integration into Guangdong Power
Grid. For electricity sales the Company recognizes the realization of revenue when it has produced electricity and
obtains the grid electricity statistical table confirmed by the Electric Power Bureau.
(2) Income from rendering of labor services
The service contracts between the Company and the customers usually include performance obligations such as
operation and maintenance services labor services etc.The Company evaluates the contract on the start date of the contract identifies each individual performance
obligation contained in the contract and determines whether each individual performance obligation is performed
within a certain period of time or at a certain point in time. If one of the following conditions is met it is a
performance obligation performed within a certain period of time the Company recognizes revenue within a
period of time according to the progress of the contract:
(1) The customer obtains and consumes the economic benefits brought by the Company's performance at the same
time as the Company's performance;
(2) Customers can control the products under construction during the performance of the Company;
(3) The goods produced by the Company during the performance of the contract have irreplaceable uses and the
Company has the right to collect payment for the cumulative performance part that has been completed so far
during the entire contract period. Otherwise the Company recognizes revenue at the time point when the customer
obtains control of the relevant goods or services.○1 Recognition standards of income from labor services provided by Environment Protection Company:
The company recognizes revenue based on the obtained sludge treatment settlement statement jointly confirmed
with the transportation company the water purification unit and the company.○2 Specific standards for revenue recognition of Engineering Company:
Debugging projects: when the debugging is successful obtain the confirmation of successful debugging and
recognize the income according to the contract;
Operation and maintenance management projects: monthly revenue is temporarily estimated and recognized based
on attendance time and labor prices of attendants and the temporary estimated revenue will be adjusted after
obtaining the monthly statement confirmed by the supplier's stamp and signature the progress confirmation letter
第59页深圳南山热电股份有限公司2021年度审计报告
and the attendance sheet.
(25)Contractual costs
The cost of obtaining the contract
If the incremental cost (that is the cost that would not be incurred without obtaining the contract)
incurred by the Company to obtain the contract is expected to be recovered it shall be recognized
as an asset and use the same basis for the recognition of the income of goods or services related to
the asset for sales and be included in the current profit and loss. If the asset amortization period
does not exceed one year it shall be included in the current profit and loss when it occurs. Other
expenses incurred by the Group in order to obtain the contract shall be included in the current
profit and loss when incurred except for those clearly borne by the customer.The cost of fulfilling the contract
The cost incurred by the Company for the performance of the contract that does not fall within the
scope of other accounting standards for business enterprises except the income standard and meets
the following conditions at the same time is recognized as an asset: (1) The cost is directly related
to a current or expected contract; (2) The cost increases the resources of the Group for fulfilling
the performance obligations in the future; (3) The cost is expected to be recovered. The
above-mentioned assets are amortized on the same basis as the recognition of the income of goods
or services related to the asset and included in the current profit and loss.Contract cost impairment
When the Company determines the impairment loss of assets related to the contract cost it first
determines the impairment loss of other assets related to the contract that are confirmed in
accordance with other relevant enterprise accounting standards; then based on the difference
between the book value of which is higher than the remaining consideration that the Company is
expected to obtain due to the transfer of the asset-related commodities and the estimated cost of
transferring the related commodities the excess shall be provided for impairment and recognized
as an asset impairment loss.If the impairment factors of the previous period have changed causing the aforementioned difference is higher
than the book value of the asset the original provis ion for asset impairment shall be reversed and included in the
current profit and loss but the book value of the asset after the reversal shall not exceed the book value of the asset
on the date of reversal under the assumption that no impairment provision is made.
(26) Government subsidy
1. Type
Government subsidy refers to the monetary asset and non-monetary asset that the Company
obtains from the government free of charge which are divided into the asset-related government
第60页深圳南山热电股份有限公司2021年度审计报告
subsidy and the income-related government subsidy.Government subsidies related to assets refer to government subsidies obtained by the Company for
purchase and construction or to form long-term assets in other ways. Government subsidies related
to income refer to government subsidies other than government subsidies related to assets.
2.Time point of recognition
If there is evidence at the end of the period that the company can meet the relevant conditions
stipulated in the financial support policy and is expected to receive financial support funds the
government subsidy shall be recognized according to the amount receivable. In addition
government subsidies are confirmed when they are actually received.If a government subsidy is a monetary asset it shall be measured at the amount received or
receivable. If a government subsidy is a non-monetary asset it shall be measured at its fair value;
if its fair value cannot be obtained reliably it shall be measured at its nominal amount (1 Yuan).Government subsidies measured at their nominal amounts are directly included in the current
profits and losses.
3. Accounting treatment
Government subsidies related to assets are used to offset the book value of related assets or be
recognized as deferred income those recognized as deferred income shall be included in the
current profit and loss (those related to the Company’s daily activities shall be included in other
income; those not related to the Company’s daily activities shall be included in the non-operating
income) in a reasonable and systematic way within the useful life of the relevant assets;
Government subsidies related to income that are used to compensate the Company’s related costs
or losses in subsequent periods shall be recognized as deferred income and shall be included in
the current profits and losses (those related to the Company’s daily activities shall be included in
other income; those not related to the Company’s daily activities shall be included in the
non-operating income) or used to offset related costs or losses during the period when the relevant
costs or losses are recognized; those used to compensate the Company’s related costs or losses are
directly included in the current profits and losses (those related to the Company’s daily activities
shall be included in other income; those not related to the Company’s daily activities shall be
included in the non-operating income) or used to offset related costs or losses.The policy-related preferential loan interest discount obtained by the Company is divided into the
following two situations and is accounted for separately:
(1) The finance allocates interest subsidy to the lending bank if the lending bank provides loans to the Company at
第61页深圳南山热电股份有限公司2021年度审计报告
a preferential policy interest rate the Company uses the amount of borrowing actually received as the entry value
of the loan and calculates the related borrowing costs according to the loan principal and the policy preferential
interest rates.
(2) If the finance directly allocates interest subsidy funds to the Company the Company will offset the
corresponding interest discount against the relevant borrowing costs.
(27) Deferred income tax asset/ deferred income tax liability
For deductible temporary differences to recognize deferred income tax assets they shall be within
the limit of the taxable income that is likely to be obtained in the future to deduct deductible
temporary differences. For the deductible losses and tax deductions that can be carried forward for
subsequent years they shall be within the limit of the future taxable income that is likely to be
used to deduct the deductible losses and tax deductions to recognize the corresponding deferred
income tax assets.For taxable temporary differences except for special circumstances deferred income tax liabilities
are recognized.Special circumstances that do not recognize deferred income tax assets or deferred income tax
liabilities include initial recognition of goodwill; Other transactions or matters that do not affect
accounting profits or taxable income (or deductible losses) when they occur except for a business
combination.When having the statutory right to settle on a net basis and intending to settle on a net basis or
obtain assets and pay off liabilities at the same time the current income tax assets and current
income tax liabilities are presented as the net amount after offsetting.When having the statutory right to settle current income tax assets and current income tax liabilities on a net basis
and the deferred income tax assets and deferred income tax liabilities are related to the income tax levied by the
same tax administration department on the same taxpayer or related to different taxpayers however in the future
period during which important deferred income tax assets and liabilities are reversed when the taxpayer involved
intends to settle the current income tax assets and liabilities on a net basis or obtain assets and repay liabilities a t
the same time the deferred income tax assets and deferred income tax liabilities are presented as the net amount
after offsetting.
(28) Leasing
st
Accounting policy applicable from 1 January 2021
A leasing is a contract in which the lessor cedes the right to use an asset to the lessee for a certain
period of time in return for consideration.
第62页深圳南山热电股份有限公司2021年度审计报告
1. The Company acts as the lessee
The Company recognizes the right-of-use assets on the commencement date of the lease term and
recognizes the lease liabilities at the present value of the outstanding lease payments. The lease
payments include fixed payments as well as payments where there is reasonable certainty that a
purchase option will be exercised or a lease option will be terminated. The variable rent
determined based on a certain percentage of sales is not included in the lease payment and is
included in the current profit and loss when it actually occurs.The Company’s right-of-use assets include leased houses and buildings machinery and equipment
means of transport computers and electronic equipment etc.For short-term leases with a lease term of less than 12 months and low-value asset leases with a
low value when a single asset is brand-new the Company chooses not to recognize the
right-of-use assets and lease liabilities and includes the relevant rental expenses into current
profits and losses or the relevant assets cost in each period of the lease term according to the
straight-line method.
2. The Company acts as the lessor
A lease that transfers substantially all the risks and rewards associated with the ownership of the
leased asset is a finance lease. Other leases are operating leases.
(1) Operating lease
When the Company operates leased buildings machinery and equipment and means of transport
the rental income from operating leases shall be recognized in accordance with the straight-line
method during the lease term. The Company will include variable rent determined based on a
percentage of sales in rental income when it actually incurs.
(2) Finance lease
On the beginning date of the lease term the Company recognizes the finance lease receivables for
finance leases and derecognizes related assets. The Company presents the finance lease
receivables as long-term receivables and the finance lease receivables received within one year
(including one year) from the balance sheet date are presented as non-current assets due within
one year.Accounting policy applicable before 1st January 2021
1. Accounting treatment of operating leases
(1) The lease fee paid by the company for rented assets shall be apportioned on a straight-line
basis during the entire lease period without deducting the rent-free period and included in the
第63页深圳南山热电股份有限公司2021年度审计报告
current expenses. The initial direct expenses related to the lease transaction paid by the company
shall be included in the current expenses.When the asset lessor bears the lease-related expenses that should be borne by the company the
company deducts this part of the cost from the total rent amortizes according to the deducted
rental expenses during the lease term and reckons it in the current expenses.
(2) The lease fee charged by the company for lease of assets shall be apportioned on a straight-line
basis during the entire lease period without deducting the rent-free period and recognized as
lease-related income. The initial direct expenses related to the lease transaction paid by the
company shall be included in the current expenses; if the amount is large it shall be capitalized
and included in the current income in installments based on the same basis as the lease-related
income recognition during the entire lease period.When the company bears the lease-related expenses that should be borne by the lessee the
company deducts this part of the expenses from the total rental income and distributes according
to the deducted rental expenses during the lease term.
2. Accounting treatment of financial leasing
(1) Financing rent in assets: on the start date of the lease the company takes the lower of the fair
value of the leased asset and the present value of the minimum lease payment as the entry value of
the leased asset and the minimum lease payment as the entry value of of long-term payable and
the difference is regarded as unrecognized financing expenses. Refer to Note III (15) Fixed Assets
for the identification basis valuation and depreciation methods of finance leased assets.The company uses the effective interest method to amortize unrecognized financing expenses
during the asset lease period and include them in financial expenses.
(2) Financing rent out assets: on the start date of the lease the company recognizes the difference between the sum
of receivable financing lease payments and unguaranteed residual value and its present value as unrealized
financing income as unrealized financing income which is recognized as rental income during each period when
the rent is received in the future the company's initial direct expenses related to the lease transactions are included
in the initial measurement of the financial lease receivables and the amount of income recognized during the lease
period is reduced.
(29) Changes of major accounting policy and accounting estimation
1. Change of major accounting policies
(1) New leasing standards
On December 7 2018 the Ministry of Finance revised the Accounting Standards for Business
Enterprises No. 21 -- Lease (hereinafter referred to as the "New Lease Standards") by Accounting
[2018] No. 35 which has been implemented by the Company from January 1 2021. In the
preparation of the 2021 annual financial statements the Company has implemented the relevant
第64页深圳南山热电股份有限公司2021年度审计报告
accounting standards and processed them in accordance with the relevant bridging provisions. On
the first execution date the Company chooses to re-evaluate whether any previously existing
contract is a lease or includes a lease and applies this method consistently to all contracts so the
bridging provisions of this Standards will be applied only to those contracts identified as leases
under the original lease standards.The Company's accounting policy for short-term leases and leases of low-value assets is the unrecognized
right-of-use assets and lease liabilities. According to the bridging provisions of the new lease standards the
Company will conduct accounting treatment in accordance with the new lease standards since the first execution
date for short-term leases and low-value asset leases prior to the first execution date there will be no retroactive
adjustment for short-term leases and leases of low-value assets.Implementation of the new leasing standard will have no impact on the relevant items of financial
statements dated 1st January 2021
(2) Execution of the Accounting Standards for Business Enterprise Interpretation No. 14
The Accounting Standards for Business Enterprise Interpretation No. 14 was issued by Ministry
of Finance on 26 January 2021 the Company carry out the Interpretation No.14 since the issued
date and implementation of the Interpretation No.14 had no material impact on the financial
statement of the current reporting period.
2. Change of major accounting estimation
No change of major accounting estimation occurred in the reporting period
IV. Taxes
(1) Main taxation and rates
Taxation items Taxation basis Tax rate
Calculate the output tax based on the sales of goods and taxable service
13%9%
income calculated according to the tax law after deducting the input tax
VAT 6% 5%
allowable for deduction in the current period the difference is the VAT
3%
payable.City maintenance tax According to the actual payment of VAT and consumption tax 7% 5%
Education surtax According to the actual payment of VAT and consumption tax 3%
Local education surtax According to the actual payment of VAT and consumption tax 2%
25%15%
Enterprise income tax According to the taxable income amount 16.5%
17%
2 Yuan ~ 8Yuan per square meter of the actual occupied are for the
industrial land located in Nanshan District Shenzhen City; 1Yuan per
Land-use tax of town
square meter of the actual occupied are for the industrial land located in
Zhongshan City
(2) Explanation of the income tax rate of the taxpayer of enterprise income tax
第65页深圳南山热电股份有限公司2021年度审计报告
Taxpaying body Rate of income tax
The Company 15%
New Power Company 25%
Engineering Company 15%
Shenzhen Server 25%
Environment Protection Company 15%
Zhongshan Electric Power 25%
Singapore Company 17%
Shen Storage 25%
Syndisome (HK) 16.5%
(3) Preferential tax policies and basis
1. Preferential corporate income tax policy:
(1) According to the Record List of the Second Batch of High-tech Enterprises recognized by
Shenzhen in 2021 Shenzhen Nanshan Power Co. Ltd. has obtained the National High-tech
Enterprise Certification no. GR202144204080 which is valid for 3 years. From 2021 to 2023 the
company enjoys the preferential corporate income tax of high-tech enterprises the corporate
income tax is paid at the rate of 15.00%.
(2) According to the Document GKHZ (2020) No. 46 Shenzhen Shennandian Turbine
Engineering Technology Co. Ltd. has obtained the National High-tech Enterprise Certification no.GR202044200352 which is valid for 3 years. From 2020 to 2022 the company enjoys the
preferential corporate income tax of high-tech enterprises the corporate income tax is paid at the
rate of 15.00%.
(3) According to the Document GKHZ (2020) No. 46 Shenzhen Shen Nan Dian Environment
Protection Co. Ltd has obtained the National High-tech Enterprise Certification no.GR202044200405 which is valid for 3 years. From 2020 to 2022 the company enjoys the
preferential corporate income tax of high-tech enterprises the corporate income tax is paid at the
rate of 15.00%.
(2) Value-added tax preferential policies:
Name of the Relevant regulation and Approval Approval Exemption Period of
Tax
company policies basis institution documents range validity
第66页深圳南山热电股份有限公司2021年度审计报告
Name of the Relevant regulation and Approval Approval Exemption Period of
Tax
company policies basis institution documents range validity
Notice on "contents of
Resource
products with Shenzhen
comprehen
Environmen comprehensive utilization Provincial 31 Aug.SQSST[2018] sive
VAT t Protection of resources and Office SAT 2018 to 31
No.: 18302 utilization
Company value-added tax privilege (Qianhai July 2022
of VAT
of labor service" (CS No. SAT)
refund
[2015]78)
VAT
Administrative Measures Shenzhen
Exemption
on VAT Exemption for Provincial
Engineering for
VAT Cross-boarder Taxable Office SAT
Company Cross-boar
Acts with VAT Replaced (Qianhai
der Taxable
by Business Tax SAT)
Acts
V. Annotation of the items in consolidate financial statement
(1) Monetary fund
Item Ending Balance Balance at the end of last year
Cash on hand 35963.95 101163.11
Bank savings 456715650.80 397000109.10
Other monetary fund 232853018.84 367500000.00
Total 689604633.59 764601272.21
Including: total amount saving aboard 51205621.70 50810349.72
No monetary funds that are restricted to use due to mortgage pledge or freezing and are placed
overseas and the repatriation of funds are restricted.
(2) Trading financial assets
Item Ending Balance Balance at the end of last year
Financial assets measured by fair value and
with variation reckoned into current 560000726.39
gains/losses
Including: Debt instrument investment
Equity instrument investment
Derivative financial assets
Other 560000726.39
Designated as financial assets measured by fair
value and with variation reckoned into current
gains/losses
Including: Debt instrument investment
Equity instrument investment 72873680.00
Total 632874406.39
第67页深圳南山热电股份有限公司2021年度审计报告
(3) Account receivable
1. Age analysis
Account age Ending Balance Balance at the end of last year
Within one year 73610161.02 85293052.88
Over 3 years 5558673.67 5558673.67
Subtotal 79168834.69 90851726.55
Less: Bad debt provision 5558673.67 5558673.67
Total 73610161.02 85293052.88
2. According to accrual method for bad debts
Ending Balance
Category Book balance Bad debt provision
Book value
Proportion Accrual
Amount Amount
(%) proportion (%)
Accounts receivable with
single provision for bad 5558673.67 7.02 5558673.67 100.00
debts
Provision for bad debts
by combination of risk 73610161.02 92.98 73610161.02
characteristics
Including: risk-free
73610161.0292.9873610161.02
portfolio
Total 79168834.69 100.00 5558673.67 7.02 73610161.02
Balance at the end of last year
Book balance Bad debt provision
Category
Accrual Book value
Proportion
Amount Amount proportion
(%)
(%)
Accounts receivable
with single provision for 5558673.67 6.12 5558673.67 100.00
bad debts
Provision for bad debts
by combination of risk 85293052.88 93.88 85293052.88
characteristics
Including: risk-free
85293052.8893.8885293052.88
portfolio
Total 90851726.55 100.00 5558673.67 6.12 85293052.88
With single provision for bad debts:
第68页深圳南山热电股份有限公司2021年度审计报告
Ending Balance
Name Accrual
Bad debt
Book balance proportion Causes
provision
(%)
Shenzhen Petrochemical
Uncollectible in
Products Bonded Trading Co. 3474613.06 3474613.06 100.00
excepted
Ltd.Zhongji Construction Uncollectible in
1137145.511137145.51100.00
Development Co. Ltd. excepted
Shenzhen Fuhuade Power Co. Uncollectible in
800000.00800000.00100.00
Ltd excepted
Uncollectible in
Other 146915.10 146915.10 100.00
excepted
Total 5558673.67 5558673.67 100.00
3. Bad debt provision accrual collected or switch back
Current amount changed
Balance at the end
Category Ending Balance
of last year Collected or
Accrual Other
switch back
Accounts
receivable with
5558673.675558673.67
single provision for
bad debts
Total 5558673.67 5558673.67
4. Top 5 receivables at ending balance by arrears party
Total period-end balance of top five receivables by arrears party amounting to 77320103.02
Yuan takes 97.66% of the total account receivable at period-end bad debt provision accrual
correspondingly at period-end amounting as 4611758.57 Yuan
(4)Account paid in advance
1.Account paid in advance classified according to age
Ending Balance Balance at the end of last year
Age
Book balance Proportion (%) Book balance Proportion (%)
Within 1year 63880339.98 99.17 22552426.03 76.33
1-2 years 441309.74 0.69 6883175.38 23.30
2-3 years 15600.00 0.05
Over 3 years 93586.94 0.14 93586.94 0.32
Total 64415236.66 100.00 29544788.35 100.00
第69页深圳南山热电股份有限公司2021年度审计报告
2. Top five accounts paid in advance at period-end balance listed by object
The aggregate amount of the top five ending balance of account paid in advance collected by the
arrears is 61564847.72 Yuan accounting for 95.57% of the total number of account in ending
balance of paid in advance
(5) Other account receivable
Balance at the end of last
Item Ending Balance
year
Interest receivable
Dividends receivable
Other account receivable 25841206.66 31027754.36
Total 25841206.66 31027754.36
1. Other account receivable
(1) Age analysis
Balance at the end of last
Age Ending Balance
year
Within 1year 3823549.28 8721096.29
1-2 years 553190.98 958772.47
2-3 years 1765816.10 1179854.47
Over 3 years 51739037.91 52208418.74
Subtotal 57881594.27 63068141.97
Less: Bad debt provision 32040387.61 32040387.61
Total 25841206.66 31027754.36
(2) By category
Ending Balance
Category Book balance Bad debt provision
Book value
Proportion Accrual
Amount Amount
(%) proportion (%)
Accounts receivable
with single provision for 32676135.85 56.45 32040387.61 98.05 635748.24
bad debts
Provision for bad debts
by portfolio of credit 25205458.42 43.55 25205458.42
risk
Including: risk-free
25205458.4243.5525205458.42
portfolio
第70页深圳南山热电股份有限公司2021年度审计报告
Ending Balance
Category Book balance Bad debt provision
Book value
Proportion Accrual
Amount Amount
(%) proportion (%)
Total 57881594.27 100.00 32040387.61 55.36 25841206.66
Balance at the end of last year
Category Book balance Bad debt provision
Book value
Proportion Accrual
Amount Amount
(%) proportion (%)
Accounts receivable
with single provision for 32525936.22 51.57 31832420.44 97.87 693515.78
bad debts
Provision for bad debts
by portfolio of credit 30542205.75 48.43 207967.17 0.68 30334238.58
risk
Total 63068141.97 100.00 32040387.61 50.80 31027754.36
With single provision for bad debts:
Ending Balance
Name
Bad debt Accrual
Book balance Causes
provision proportion (%)
Huiyang Kangtai Industrial Unable to
14311626.7014311626.70100.00
Company recover
Unable to
Individual income tax 2470039.76 2470039.76 100.00
recover
Unable to
Dormitory amount receivable 2083698.16 1736004.16 83.31
recover
Unable to
Deposit receivable 1601029.19 1312974.95 82.01
recover
Personal receivables Unable to
7498997.877498997.87100.00
recover
Shandong Jinan Generation Unable to
3560000.003560000.00100.00
Equipment Plant recover
Zuohao Clothing (Shenzhen) Unable to
43068.3143068.31100.00
Co. Ltd. recover
Shenzhen Guanhua Printing and Unable to
53591.7553591.75100.00
Dyeing Co. Ltd. recover
Shenzhen Nanhua Printing and Unable to
41407.0141407.01100.00
Dyeing Co. Ltd. recover
Huizhou Bangde Agricultural
Unable to
Ecological Organic Fertilizer 25788.00 25788.00 100.00
recover
Co. Ltd.Huizhou Lvhuan Fertilizer Co. Unable to
44112.144112.1100.00
Ltd. recover
Unable to
Other 942777.00 942777.00 100.00
recover
Total 32676135.85 32040387.61 98.05
(3)Accrual of bad debt provision
第71页深圳南山热电股份有限公司2021年度审计报告
Phases I Phases II Phases III
Expected credit
Bad debt provision Expected credit losses for the entire Expected credit losses for Total
losses over next duration (without the entire duration (with
12 months credit impairment credit impairment occurred)
occurred)
Balance at
207967.1731832420.4432040387.61
year-begin
Balance at
year-begin of the
period
——Turn to phase
II
——Turn to phase
-207967.17207967.17
III
——Return to
Phase II
——Return to
Phase I
Current accrual
Current switch
back
Rewrite in the
period
Write-off in the
period
Other changes
Ending Balance 32040387.61 32040387.61
(3) By nature
Nature Ending book balance Book balance at last year-end
Deposit and security deposit 8213574.51 5130967.25
Reserve fund 610723.06 566951.40
Withholding payment 9182463.86 9151898.54
Current payment 24404083.76 18066774.22
other 730247.64 8776977.75
Accounts receivable of Huidong
14740501.4421374572.81
Server
Subtotal 57881594.27 63068141.97
Less: Bad debt provision 32040387.61 32040387.61
Total 25841206.66 31027754.36
(4) Top five other account receivables at period-end balance listed by arrears party
The total amount of the top five other receivables at the end of the period aggregated by the owing
第72页深圳南山热电股份有限公司2021年度审计报告
party was 39367445.32 Yuan accounting for 68.01% of the total balance of other receivables at
the end of the period.
(6) Inventory
1. Classification
Ending Balance Balance at the end of last year
Item Inventory
Inventory falling
Book balance falling price Book value Book balance Book value
price reserves
reserves
Raw
149489121.2761358046.5488131074.73149653114.1149407585.05100245529.06
materials
Low-value
369916.40369916.40
consumables
Total 149859037.67 61358046.54 88500991.13 149653114.11 49407585.05 100245529.06
2. Inventory falling price reserves
Current increased Current decreased
Balance at the
Item Ending Balance
end of last year Switch-back
Accrual Other Other (note)
or write-off
Raw
49407585.0511958247.407785.9161358046.54
materials
Total 49407585.05 11958247.40 7785.91 61358046.54
(7) Contractual assets
Item Ending Balance Balance at year-begin
Operation and maintenance project settlement
1040000.007229600.00
accounts receivable
Subtotal 1040000.00 7229600.00
Provision for impairment of contractual assets
Total 1040000.00 7229600.00
(8) Other current assets
Balance at the end of last
Item Ending Balance
year
VAT input tax deductible 324040257.98 332071261.59
Income tax paid in advance 6583089.98 6583089.98
Bank financial products 575655558.24
Accrual interest of time deposit
1195914.662918334.73
第73页深圳南山热电股份有限公司2021年度审计报告
Balance at the end of last
Item Ending Balance
year
Other 49399.00 60000.00
Total 331868661.62 917288244.54
第74页深圳南山热电股份有限公司2021年度审计报告
(9) Long-term equity investment
Changes +-
Period-end
The invested Balance at the Investment Other Declaration Ending balance of
Other
entity end of last year Additional gains/losses comprehensive of cash Provision for Balance depreciation
Disinvestment changes Other
investment recognized by income dividends or impairment reserves
in equity
equity method adjustment profits
1. Joint venture
Huidong Server
Harbor
Comprehensive 8893408.86 -1906753.67 6986655.19
Development
Company
Total 8893408.86 -1906753.67 6986655.19
第75页深圳南山热电股份有限公司2021年度审计报告
(10) Other equity instrument investment
1. Other equity instrument investment
Balance at the end of
Item Ending Balance
last year
CPI Jiangxi Nuclear Power Company 60615000.00 60615000.00
Zhongsheng Technology (Jiangsu) Co. Ltd. 140000000.00 21000000.00
Shenzhen Petrochemical Products Bonded Trading Co.
2500000.002500000.00
Ltd. - investment cost
Shenzhen Petrochemical Products Bonded Trading Co.-2500000.00-2500000.00
Ltd. - change in fair value
Total 200615000.00 81615000.00
2. Non trading equity instrument investment
Reasons of
Dividend Retained Designated as the
retained
income earnings investment measured at fair
earnings
recogniz Accumulat Accumulat transferred value and whose changes
Item transferred
ed in the ed gain ed loss from other reckoned into other
from other
current comprehens comprehensive income
comprehens
period ive income (explain reasons)
ive income
CPI Jiangxi
Nuclear 252016. intents to holding for a
Power 49 long-term
Company
Shenzhen
Petrochemi
cal
-2500000. intents to holding for a
Products
00 long-term
Bonded
Trading
Co. Ltd.
252016.-2500000.
Total
4900
(11) Investment real estate
1. Investment real estate measured at cost
Item House and building Total
1. Original book value
(1) Balance at the end of last year 9708014.96 9708014.96
(2) Current increased
(3) Current decreased
(4) Ending Balance 9708014.96 9708014.96
第76页深圳南山热电股份有限公司2021年度审计报告
Item House and building Total
2. Accumulated depreciation and accumulated
amortization
(1) Balance at the end of last year 7502825.56 7502825.56
(2) Current increased 196137.60 196137.60
(3) Current decreased
(4) Ending Balance 7698963.16 7698963.16
3. Depreciation provision
(1) Balance at the end of last year
(2) Current increased
(3) Current decreased
(4) Ending Balance
4. Book value
(1) Ending book value 2009051.80 2009051.80
(2) Book value of end of last year 2205189.40 2205189.40
(12) Fixed assets
1. Fixed assets and disposal of fixed asset
Item Ending Balance Balance at the end of last year
Fixed assets 643256398.30 925745208.55
Disposal of fixed assets
Total 643256398.30 925745208.55
第77页深圳南山热电股份有限公司2021年度审计报告
2. Fixed assets
Machinery equipment Transportation tools
Item House and buildings Other Total
1. Original book value
(1) Balance at the end of last year 426009822.97 3159342280.68 16757800.53 58485287.75 3660595191.93
(2) Current increased 38128186.36 357334.62 2946529.07 41432050.05
—Purchase 44778.76 357334.62 1436783.36 1838896.74
Construction in progress
38083407.601509745.7139593153.31
transfer-in
(3) Current decreased 6100000.00 2233430.00 117980.00 8451410.00
—Disposal or scrapping 6100000.00 2233430.00 117980.00 8451410.00
---Decrease in disposal of
subsidiaries
(4) Ending Balance 426009822.97 3191370467.04 14881705.15 61313836.82 3693575831.98
2. Accumulated depreciation
(1) Balance at the end of last year 274467339.25 2285724572.18 8778143.96 44182864.81 2613152920.20
(2) Current increased 11923927.01 28730727.38 1887358.06 2797587.96 45339600.41
—Accrual 11923927.01 28730727.38 1887358.06 2797587.96 45339600.41
(3) Current decreased 5490000.00 1987020.00 106182.00 7583202.00
—Disposal or scrapping 5490000.00 1987020.00 106182.00 7583202.00
—Decrease in disposal of
subsidiaries
(4) Ending Balance 286391266.26 2308965299.56 8678482.02 46874270.77 2650909318.61
第78页深圳南山热电股份有限公司2021年度审计报告
Machinery equipment Transportation tools
Item House and buildings Other Total
3. Depreciation provision
(1) Balance at the end of last year 9800239.30 111896823.88 121697063.18
(2) Current increased 12669432.80 268971500.43 56300.08 164018.32 281861251.63
—Accrual 8521233.06 268971500.43 56300.08 164018.32 277713051.89
—Other 4148199.74 4148199.74
(3) Current decreased 4148199.74 4148199.74
—Disposal or scrapping
—Decrease in disposal of
subsidiaries
—Other 4148199.74 4148199.74
(4) Ending Balance 22469672.10 376720124.57 56300.08 164018.32 399410115.07
4. Book value
(1) Ending book value 121297084.35 501536843.17 6146923.05 14275547.73 643256398.30
(2) Book value of end of last year 141742244.42 761720884.62 7979656.57 14302422.94 925745208.55
第79页深圳南山热电股份有限公司2021年度审计报告
3. Idle fixed assets temporary
Original book Accumulated Depreciation
Item Book value Note
value depreciation provision
Housing &
127893412.1098886783.1719801856.529204772.41
buildings
Machinery
569764445.49483599824.0169796231.4816368390.00
equipment
Total 697657857.59 582486607.18 89598088.00 25573162.41
4. Fixed assets without property rights certificate
Reasons for failing to
Item Book value complete the property rights
certificate
Circulating Water Pump House 1111441.10 Procedures uncompleted
Cooling Tower 673259.25 Procedures uncompleted
Complex Building 443246.19 Procedures uncompleted
Comprehensive building canteen 247224.51 Procedures uncompleted
Chemical water treatment
232960.00 Procedures uncompleted
workshop
Main entrance mail room 77237.04 Procedures uncompleted
Total 2785368.09
(13) Construction in progress
1. Construction in progress and Engineering materials
Item Ending Balance Balance at the end of last year
Construction in progress 6088768.51 42782712.98
Engineering materials
Total 6088768.51 42782712.98
第80页深圳南山热电股份有限公司2021年度审计报告
2. Construction in progress
Ending Balance Balance at the end of last year
Item
Depreciation Depreciation
Book balance Book value Book balance Book value
provision provision
Cogeneratio 60307712.4 58610372.0 1697340.3 60112152.4 22273910.4 37838242.0
n 4 6 8 6 3 3
Oil to Gas 13230574.5 13230574.5 13230574.5 13230574.5
-
Works 3 3 3 3
Technical 4391428.1
5862678.131471250.004944470.954944470.95
innovation 3
79400965.173312196.56088768.578287197.935504484.942782712.9
Total
091468
第81页深圳南山热电股份有限公司2021年度审计报告
3. Changes of significant projects in construction in the period
Proportion
of Accumulati
Transferred Including: Rate of
Balance at Other accumulati Project ve amount
Current fixed assets Ending capitalizati interest Capital
Item Budget the end of decrease in ve project progress of
increased in this Balance on of capitalizati sources
last year the period investment (%) capitalizatio
period interest on (%)
in budget n of interest
(%)
Self-raise
Cogenerati 60000000. 60112152. 60307712. 6476185.4 d and
195559.98100.51100.00
on 00 46 44 6 borrowin
g
Oil to Gas 74000000. 13230574. 13230574. Self-raise
17.8817.88
Works 00 53 53 d
Not
Technical 4944470.9 42392983. 39593153. 1881623. 5862678.1 Not Self-raise
applicabl
innovation 5 90 31 41 3 applicable d
e
78287197.42588543.39593153.1881623.79400965.6476185.4
Total
94883141106
第82页深圳南山热电股份有限公司2021年度审计报告
4. Accrual of impairment provision for Construction in progress in the period
Withdrawal amount for the current
Item Reason for provision
period
Cogeneration 36336461.63 No value for use
Technical innovation 1471250.00 Technological advances
Total 37807711.63
(14) Intangible assets
1. Intangible assets
Item Land use right Software Total
1. Original book value
(1) Balance at the end of last year 60813994.76 3791219.34 64605214.10
(2) Current increased 153273.59 153273.59
—Purchase 153273.59 153273.59
(3) Current decreased 57735.85 57735.85
—Disposal 57735.85 57735.85
—Decrease in disposal of
subsidiaries
(4) Ending Balance 60813994.76 3886757.08 64700751.84
2. Accumulated amortization
(1) Balance at the end of last year 40020625.95 3458977.91 43479603.86
(2) Current increased 622629.60 132611.52 755241.12
—Accrual 622629.60 132611.52 755241.12
(3) Current decreased
—Disposal
—Decrease in disposal of
subsidiaries
(4) Ending Balance 40643255.55 3591589.43 44234844.98
3. Depreciation provision
(1) Balance at the end of last year
(2) Current increased
—Accrual
(3) Current decreased
—Disposal
(4) Ending Balance
第83页深圳南山热电股份有限公司2021年度审计报告
Item Land use right Software Total
4. Book value
(1) Ending book value 20170739.21 295167.65 20465906.86
(2) Book value of end of last year 20793368.81 332241.43 21125610.24
2. Land use rights without property rights certificate
Reasons for failing to
Item Book value complete the property rights
certificate
Land use right of the wharf and pipe Property rights certificate is
503012.29
gallery undergoing
Total 503012.29
(15) Long-term deferred expenses
Balance at the Current Amortized in
Item Other decrease Ending Balance
end of last year increased the Period
Decoration
1027508.941130571.96441620.601716460.30
amount
Total 1027508.94 1130571.96 441620.60 1716460.30
(16) Deferred income tax assets and deferred income tax liabilities
1. Deferred income tax assets without offsetting
Ending Balance Balance at the end of last year
Item Deductible Deductible
Deferred income tax Deferred income
temporary temporary
assets tax assets
difference difference
Bad debt provision 1937145.52 484286.38 6352158.77 1581049.69
Changes in fair value of
other equity instrument 2500000.00 625000.00 2500000.00 625000.00
investments
Total 4437145.52 1109286.38 8852158.77 2206049.69
2. Details of unrecognized deferred income tax assets
Balance at the end of last
Item Ending Balance
year
Deductible temporary difference 585949690.28 257908575.87
Deductible loss 346683937.56 150290572.14
Total 932633627.84 408199148.01
第84页深圳南山热电股份有限公司2021年度审计报告
3. Deductible losses of un-recognized deferred income tax assets expired on the followed year
Balance at the end of last
Year Ending Balance Note
year
20218844687.56
202218744225.0818744225.08
202337902892.3641640520.44
20245350767.0611385937.72
20253472561.7769675201.34
2026169951549.63
2027
2028
20296035170.66
203066686335.03
203138540435.97
Total 346683937.56 150290572.14
(17) Short-term loans
1. Classification
Balance at the end of last
Item Ending Balance
year
Credit loans 856861840.80 672033285.00
Accrued interest 1582322.45 3495573.48
Total 858444163.25 675528858.48
(18) Note payable
Balance at the end of last
Species Ending Balance
year
Bank acceptance 135025883.27 30467345.48
Total 135025883.27 30467345.48
(19) Account payable
1. Account payable
第85页深圳南山热电股份有限公司2021年度审计报告
Item Ending Balance Balance at the end of last year
Materials 2325920.64 1485870.91
Electricity 1078066.07 3198432.35
Labor
3299480.004622000.00
Total 6703466.71 9306303.26
(20) Wages payable
1. Wages payable
Balance at the end
Item Current increased Current Decreased Ending Balance
of last year
Short-term remuneration
68988399.03102395713.14130420679.1540963433.02
Post-employment
welfare-defined 438504.94 16562029.92 16430946.92 569587.94
contribution plans
Severance Pay
Other welfare due within
one year
Total 69426903.97 118957743.06 146851626.07 41533020.96
2. Short-term remuneration
Balance at the Current
Item Current increased Ending Balance
end of last year Decreased
(1) Wages bonuses
allowances and 68484174.37 84655768.62 112628541.74 40511401.25
subsidies
(2) Welfare for
129361.00635834.00703118.0062077.00
workers and staff
(3) Social insurance 5688827.21 5688827.21
Including:
5421050.305421050.30
Medical insurance
Work
142297.81142297.81
injury insurance
Maternity
125479.10125479.10
insurance
(4) Housing
9271438.149271438.14
accumulation fund
(5) Labor union
expenditure and
374863.661876869.171861778.06389954.77
personnel education
expense
(6) Short-term paid
absence
(7) Short-term profit
sharing plan
(8) Other 266976.00 266976.00
Total 68988399.03 102395713.14 130420679.15 4 0963433.02
第86页深圳南山热电股份有限公司2021年度审计报告
3. Defined contribution plans(DCP)
Balance at the Current
Item Current increased Ending Balance
end of last year Decreased
Basic endowment insurance 9581419.94 9581419.94
Unemployment insurance 119809.98 119809.98
Enterprise annuity 438504.94 6834800.00 6703717.00 569587.94
Other 26000.00 26000.00
Total 438504.94 16562029.92 16430946.92 569587.94
(21) Taxes payable
Item Ending Balance Balance at the end of last year
VAT 706615.96 3086053.57
Environmental tax 62437.77 32646.98
Corporate income tax 621938.34
Personal Income Tax 1402165.48 2726195.98
Urban maintenance and construction tax 43868.84 44879.53
Local education surcharge 16902.90 16824.46
Education surcharge 25354.34 25236.71
Property tax 1524487.98 996166.86
Stamp duty 63247.50 33443.10
Other 300759.12 42872.73
Total 4145839.89 7626258.26
(22) Other account payable
Balance at the end of last
Item Ending Balance
year
Interest payable
Other account payable 62678254.02 27020944.95
Total 62678254.02 27020944.95
1. Other account payable
(1) Other payable by nature
第87页深圳南山热电股份有限公司2021年度审计报告
Item Ending Balance Balance at the end of last year
Engineering funds 4991246.36 7759695.06
Quality assurance 6308254.95 6675270.29
Accrued expenses 8537422.41 6625316.75
Material payment 30721390.14 147487.65
Equipment fund 3215000.00
Other 12119940.16 2598175.20
Total 62678254.02 27020944.95
(2) Top five other payable
The ending balance of the top five other payable aggregated by the arrears party is 41532468.19
Yuan accounting for 66.26% of the total ending balance of other payable.
(23) Accrual liability
Balance at the end
Item Current increased Current Decreased Ending Balance Reason
of last year
Pending
19923508.284923508.2815000000.00
litigation
Other
Total 19923508.28 4923508.28 15000000.00
Note: On 29 November 2013 Shenzhen Server and Jiahua Building Products (Shenzhen) Co. Ltd. (Jiahua
Building) signed a supplementary term aiming at equity transfer over equity attribution and division of Yapojiao
Dock which belongs to Shenzhen Server Huidong Server and Huidong Nianshan Town Government as well as its
subordinate Nianshan Group. In order to solve this remaining historic problem Shenzhen Server saved
12500000.00 Yuan in condominium deposit account as guarantee. In addition Server pledged its 20% of equity
holding from Huidong Server to Jiahua Architecture with pledge duration of 2 years. The amount of collateral on
loans could not exceed 15000000.00 Yuan. Relevant losses with the event concerned predicted amounting to 27
500000.00 Yuan by the Group the balance at the end of 2019 was 26646056.28 Yuan.
On November 12 2020 Huidong Server and other related parties reached a preliminary settlement agreement on
the land disputes in the estimated liabilities. According to this accrual liability of 6584816.78 Yuan was reversed
by Shenzhen Server. In 2020 Shenzhen Server to bear the lawyer’s and other expenses in accordance with the
agreed proportion that is 137731.22 Yuan the accrual liability has 6722548.00 Yuan declined in total in the
第88页深圳南山热电股份有限公司2021年度审计报告
Period. Balance of 19923508.28 Yuan refers to the repayment obligations that are likely to occur before the
completion of the above matters.On November 12 2020 Huizhou Commercial Construction and Development Corporation and Huidong Server
Harbor Comprehensive Development Company signed the "Creditor's Rights Assignment Agreement" and the
reconciliation record was executed by the People's Court of Huidong County which partially solved the issues of
ownership and division of rights and interests of Yapojiao Wharf. On January 20 2021 Shenzhen Server received
5000000.00 Yuan returned from the joint account. Accordingly Shenzhen Server reverted its estimated liabilities
of 4573508.28 Yuan. In 2021 Shenzhen Server bore the lawyer and other expenses of 350000 Yuan for the issues
in accordance with the agreed proportion the estimated liabilities totally reduced by 4923508.28 Yuan in current
period. The balance of 15000000.00 Yuan is a repayment obligation likely to occur before the completion of the
above matters.
(24) Deferred income
Balance at the Current Current
Item Ending Balance Reason
end of last year increased Decreased
Government
93780657.93670000.006370687.8488079970.09
subsidy
Total 93780657.93 670000.00 6370687.84 88079970.09
Items with government subsidy involved:
Subsidy
amount Amount
Assets
Balance at the newly included in Other Ending
Liability related/income
end of last year increased in current profit change Balance
related
the current and loss
period
Government
subsidies for
low-nitrogen 24648454.68 544168.22 24104286.46 Assets related
equipment
renovation
Government
subsidies for
information 25490.12 25490.12 Assets related
construction
projects
Subsidies for
the Motor
Energy
Efficiency 367200.00 34560.00 332640.00 Assets related
Improvement
Funding
Scheme
Support fund of
recycling
6804271.03 647002.92 6157268.11 Assets related
economy for
sludge drying
第89页深圳南山热电股份有限公司2021年度审计报告
Treasury
subsidies for 2571250.00 255000.00 2316250.00 Assets related
sludge drying
Special funds
for energy
conservation 570185.98 114037.32 456148.66 Assets related
and emission
reduction
Subsidy for
quality
promotion of
the air 58793806.12 4731818.16 54061987.96 Assets related
environment in
Shenzhen (note
1)
2021 Technical
Transformation 670000.00 18611.10 651388.90 Assets related
Project
Total 93780657.93 670000.00 6370687.84 88079970.09
(25) Other non-current liabilities
Item Ending Balance Balance at the end of last year
Amounts payable to other shareholders 50310.78 7627.86
Total 50310.78 7627.86
(26) Share capital
Changes in this period (+ -)
Balance at the
Item New Capitalizing Ending Balance
end of last year Bonus
shares from Other Subtotal
shares
issued reserves
Total
602762596.00602762596.00
shares
(27) Capital reserve
Balance at the end
Item Current increased Current Decreased Ending Balance
of last yearCapital premium（Share
233035439.62233035439.62premium）
Other capital reserve
129735482.48129735482.48
Total 362770922.10 362770922.10
第90页深圳南山热电股份有限公司2021年度审计报告
(28) Other comprehensive income
Current period
Less: written in Less: written in
other other
comprehensive comprehensive
Balance at the
Balance at Account income in income in Less : Belong to Belong to Ending
Item end of last
year-begin before previous period previous period income parent minority Balance
year
income tax in and carried and carried tax company after shareholders
the year forward to forward to expense tax after tax
gains and retained
losses in earnings in
current period current period
1. Other comprehensive income items
which will not be reclassified subsequently
to profit of loss
Including: changes of the defined benefit
plans that re-measured
Other comprehensive income under
equity method that cannot be transfer to
gain/loss
Change of fair value of investment in
-2500000.00-2500000.00
other equity instrument
Total other comprehensive income -2500000.00 -2500000.00
第91页深圳南山热电股份有限公司2021年度审计报告
(29) Surplus reserve
Balance at the end
Item Current increased Current Decreased Ending Balance
of last year
Legal surplus reserve 310158957.87 310158957.87
Discretionary surplus
22749439.7322749439.73
reserve
Total 332908397.60 332908397.60
(30) Retained profit
Item Current amount Last-period amount
Retained profit of last year before adjusted 758799931.94 706830892.54
Total retained profit adjusted (increased with +
decreased with -)
Retained profit at beginning of the year after adjusted 758799931.94 706830892.54
Add: net profit attributable to shareholders of parent
-439448712.1364024291.32
company
Less: withdrawal of statutory surplus reserve
Common Stock dividend payable 12055251.92
Retained profit at period-end 319351219.81 758799931.94
(31) Operating income and operating cost
Current amount Last-period amount
Item
Income Cost Income Cost
Main business 755956762.36 849690713.43 982484377.16 794326472.79
Other business 1218981.05 569945.97 2769454.42 197337.60
Total 757175743.41 850260659.40 985253831.58 794523810.39
(32) Tax and surcharge
Item Current amount Last-period amount
Property tax 2220037.22 2149484.33
Travel tax 16916.56 15266.56
Land holding tax 308017.20 785747.88
Stamp duty 701797.80 625730.48
第92页深圳南山热电股份有限公司2021年度审计报告
Item Current amount Last-period amount
Urban maintenance and construction
1168205.832507916.30
tax
Education surcharge 572120.09 1413635.81
Local education surcharge 381413.39 935569.77
Environmental protection tax 912640.21 112506.92
Total 6281148.30 8545858.05
(33) Sales expense
Item Current amount Last-period amount
Sludge treatment costs 208163.44 3848884.38
Salary welfare and social insurance 420777.50 655091.29
Social expenses 100232.70 233663.28
Agency engagement fee 32737.16 68056.60
Property insurance 48684.42 55981.53
Labor insurance fee 19687.32 23561.59
Inspection charges 2358.49 21683.02
Rental fee 10800.00 18000.00
Fleet cost 17824.25 15284.63
Housing fund 14745.72 14746.52
Food expenses 14700.00 11900.00
Travel expenses 22050.79 7662.50
Communication expenses
15900.005400.00
Total 928661.79 4979915.34
(34) Administration expense
Item Current amount Last-period amount
Wages 52721563.61 62913189.30
Rental fee 6461642.19 7243936.24
Depreciation 10879329.80 6453519.80
Social expenses 2611353.46 2983408.61
Food expenses 3730529.14 3217453.47
第93页深圳南山热电股份有限公司2021年度审计报告
Item Current amount Last-period amount
Agency fee 6597046.69 3766552.89
Repairing cost 382708.01 1191409.25
Eco fee 1408486.56 244376.90
Fleet cost 2892135.99 4202313.60
Office fee 591516.35 1369300.09
Board charges 1033954.26 2357575.81
Communication expenses 1235859.50 1201372.17
Amortization of intangible assets 139202.16 292083.81
Corporate culture fee 312381.43 1175121.33
Property management fee 1110962.08 989244.87
Business travel expenses 470531.57 710951.65
Fee for stock certificate 642314.97 676422.39
Other 10065408.92 10629992.91
Total 103286926.69 111618225.09
(35) R&D expenses
Item Current amount Last-period amount
Employee's salary 20409064.48 8242704.84
Depreciation 353385.65 163768.32
Amortization of intangible assets 84409.42
Patent fee 24860.38
Repair fee 146402.47
Total 20933712.98 8490882.58
(36) Financial expense
Item Current amount Last-period amount
Interest expenses 30629953.77 32014803.26
Less: capitalized interest
Expenses interest 30629953.77 32014803.26
Less: interest income 15728363.74 32660554.45Exchange loss (gains is listed with ”-”) 112793.73 407513.25
第94页深圳南山热电股份有限公司2021年度审计报告
Item Current amount Last-period amount
Other 198353.91 171579.98
Total 15212737.67 -66657.96
(37) Other Income
Item Current amount Last-period amount
Government subsidies 7074336.60 15117534.15
Debt restructuring income 7593783.90
Total 7074336.60 22711318.05
Government subsidies included in other income
Asset related /
Item Current amount Last-period amount
income related
Subsidy for low-nitrogen
544168.22 516675.96 Asset related
transformation
Support fund of recycling economy for
647002.92 647002.92 Asset related
sludge drying
Treasury subsidies for sludge drying 255000.00 255000.00 Asset related
Subsidy for quality promotion of the
4731818.16 4731818.16 Asset related
air environment in Shenzhen
Special funds for energy conservation
114037.32 114037.32 Asset related
and emission reduction
Information construction 25490.12 61176.48 Asset related
Funded of energy efficiency
34560.00 34560.00 Asset related
improvement for electric machine
2021 Technical Transformation
18611.10 Asset related
Subsidy
Individual tax refund 195684.76 375369.20 Income related
Enterprise unemployment insurance
4176211.18 Income related
premium refund
VAT rebates 1283570.70 Income related
Employment and unemployment
1000.00 Income related
monitoring subsidy
Reward to encouraging small and
medium-sized enterprise to growth as a 27816.00 Income related
scale-sized company
Supporting funds of office occupancy
1822300.00 Income related
for listed companies
Special fund for the development of
100000.00 500000.00 Income related
independent innovation industry
Qianhai Epidemic Prevention Support
448791.00 Income related
Special Fund
Subsidy of further stable growth 100000.00 Income related
Job stabilization subsidy 7964.00 21687.31 Income related
第95页深圳南山热电股份有限公司2021年度审计报告
Asset related /
Item Current amount Last-period amount
income related
Preferential refund of education fees
for comprehensive utilization of 517.92 Income related
resources products and labor
National High-tech Enterprise
400000.00 Income related
Multiplication Plan
Total 7074336.60 15117534.15
(38) Investment income
Item Current amount Last-period amount
Long-term equity investment income by
-1906753.67-5725794.17
equity
Investment income from disposal of
33534881.55
long-term equity investments
Investment income during the holding
47635822.62
period of Trading financial assets
Dividend income obtained during the
holding period of other equity instrument 252016.49
investments
Total 45981085.44 27809087.38
(39) Assets impairment loss
Item Current amount Last-period amount
Loss of inventory fall -11958247.40 -7399234.51
Fixed asset impairment loss -277713051.89 -14045534.44
Construction in progress impairment loss -37807711.63 -22273910.43
Total -327479010.92 -43718679.38
(40) Income from disposal of assets
Amount reckoned into
Item Current amount Last-period amount non-recurring gains/losses of the
Period
Profit and loss on
974699.74-1109128.91974699.74
disposal of fixed assets
Total 974699.74 -1109128.91 974699.74
(41) Non-operating revenue
第96页深圳南山热电股份有限公司2021年度审计报告
Amount reckoned into
non-recurring
Item Current amount Last-period amount
gains/losses of the
Period
Reversal of accrual liabilities 5000000.00 6584816.78 5000000.00
Other 261868.99 500.00 261868.99
Total 5261868.99 6585316.78 5261868.99
(42) Non-operating expenditure
Amount reckoned into
Item Current amount Last-period amount non-recurring
gains/losses of the Period
External donation 10000.00 10000.00 10000.00
Loss of scrap from non-current assets 188716.00 34990.00 188716.00
Other 49500.00 108729.62 49500.00
Total 248216.00 153719.62 248216.00
(43) Income tax expense
1. Income tax expense
Item Current amount Last-period amount
Current income tax 140503.27 1361203.90
Deferred income tax 1096763.31
Total 1237266.58 1361203.90
2. Adjustment on accounting profit and income tax expenses
Item Current amount
Total profit -508163339.57
Income tax measured by statutory/applicable tax rate -76224500.94
Impact on subsidiary with different rates adaption
-36453082.03
Adjusted the previous income tax 140479.58
Impact on cost expenses and losses that unable to deducted
1131302.13
Effect of deductible losses of deferred tax assets unconfirmed at the earlier stage of
-25435122.20
use
Impact on deductible temporary differences or losses deductible which was
139895044.18
un-recognized as deferred income tax assets
Changes in deferred tax assets/liabilities at the beginning of the period due to tax
1096763.31
rate adjustments
第97页深圳南山热电股份有限公司2021年度审计报告
Item Current amount
Impact of R&D Expenses Plus Deduction -2913617.45
Income tax expenses
1237266.58
(44) Earnings per share
1. Basic earnings per share
Basic earnings per share is calculated by dividing the consolidated net profit attributable to
ordinary shareholders of the parent company by the weighted average number of ordinary shares
issued by the company:
Item Current amount Last-period amount
Consolidated net profit attributable to ordinary
-439448712.1364024291.32
shareholders of the parent company
Weighted average number of common shares issued by
602762596.00602762596.00
the company
Consolidated net profit attributable to ordinary
-0.72910.1062
shareholders of the parent company
2. Diluted earnings per share
Item Current amount Last-period amount
Consolidated net profit attributable to ordinary
-439448712.1364024291.32
shareholders of the parent company (diluted)
Weighted average number of common shares issued by
602762596.00602762596.00
the company (diluted)
Diluted earnings per share -0.7291 0.1062
(45) Cash flow statement
1. Cash received with other operating activities concerned
Item Current amount Last-period amount
Interest income 17328709.70 30591982.78
Government subsidy 18415845.60 7639374.06
Intercourse funds 15273968.49 7399077.47
Other 407871.92 320135.7
Total 51426395.71 45950570.01
2. Other cash paid in relation to operation activities
第98页深圳南山热电股份有限公司2021年度审计报告
Item Current amount Last-period amount
Out-of-pocket expenses 44496464.32 48434930.11
Intercourse funds 12486872.79 9982836.03
Total 56983337.11 58417766.14
3. Other cash received in relation to investment activities
Item Current amount Last-period amount
Debt repayment received from Huidong Server 1144800.00
Interest from financial products 6763164.80
Total 7907964.80
4.Other cash received in relation to financing activities
Item Current amount Last-period amount
Received from other company 170000000.00
Total 170000000.00
5. Cash paid related with financing activities
Item Current amount Last-period amount
Other account paid 887962.40
Total 887962.40
(46) Supplementary information to statement of cash flow
1. Supplementary information to statement of cash flow
Supplementary information
Current amount Last-period amount
1. Net profit adjusted to cash flow of operation activities
Net profit -509400606.15 67924788.49
Add: credit impairment loss
Assets impairment provision 327479010.92 43718679.38
Depreciation and amortization of investment properties 196137.60 196137.60
第99页深圳南山热电股份有限公司2021年度审计报告
Supplementary information
Current amount Last-period amount
Depreciation of fixed assets 45339600.41 71493650.27
Amortization of intangible assets
755241.12908122.77
Amortization of long-term deferred expenses
441620.60261513.71
Loss from disposing fixed assets intangible assets and
-974699.741109128.91other long-term assets (income listed with “-“)Loss on retirement of fixed assets (gain is listed with
188716.0034990.00
“-”)Loss from changes of fair value (income listed with “-“)Financial expense (gain listed with “-”) 30629953.77 32014803.26
Investment loss (gain listed with “-”) -45981085.44 -27809087.38
Decrease of deferred income tax asset( (increase is
1096763.31
listed with “-”)
Decrease of inventory (increase is listed with “-”)
Decrease of inventory (increase is listed with “-”)
-205923.5622175312.08
Decrease of operating receivable accounts (increase is
30907257.5288309904.36
listed with “-”)
Increase of operating payable accounts (decrease is
80269711.57-39612534.43
listed with “-”)
Other
Net cash flow arising from operating activities
-39258302.07260725409.02
2. Material investment and financing not involved in
cash flow
Debt capitalization
Convertible company bond due within one year
Fixed assets acquired under finance leases
3. Net change of cash and cash equivalents:
Ending Balance of cash 456751614.75 397101272.21
Less: Opening Balance of cash 397101272.21 381490000.96
Add: Ending Balance of cash equivalent 232853018.84 367500000.00
Less: Opening Balance of cash equivalent 367500000.00 390000000.00
Net increasing of cash and cash equivalents
-74996638.62-6888728.75
2. Composition of cash and cash equivalent
Balance at the end of
Item Ending Balance
last year
I. Cash 456751614.75 397101272.21
Including: Cash on hand 35963.95 101163.11
456715650.80397000109.10
Bank savings available for payment needed
第100页深圳南山热电股份有限公司2021年度审计报告
Balance at the end of
Item Ending Balance
last year
Other monetary capital available for payment needed
Account due from central bank available for payment
Amount due from banks
Amount call loans to banks
II. Cash equivalent 232853018.84 367500000.00
including: bond investment due within three months
III. Balance of cash and cash equivalent at period-end 689604633.59 764601272.21
Including: Cash and cash equivalent of the parent company
or subsidiaries with use restricted
(47) Assets of ownership or use right restricted
No assets of ownership or use right restricted in the period.
(48) Foreign currency
1. Foreign currency
Balance of foreign Balance of RMB converted
Item Conversion rate
currency at period-end at period-end
Monetary fund
839075.916.37575349696.28
Including: USD
Euro 1017.87 7.2197 7348.72
HKD 376057.62 0.8176 307464.71
SGD 4338.03 4.7179 20466.39
(49) Government subsidies
1. Government subsidies related to assets
The amount included in current Item of the
gain/loss or loss resulting from amount
related costs off-setting included in
current
Type Amount Balance sheet gain/loss or
Current Last-period loss resulting
amount amount from related
costs
off-setting
Subsidy for
Deferred
low-nitrogen 43032780.00 544168.22 458768.16 Other income
income
transformation
Support fund of
Deferred
recycling economy for 11750000.00 647002.92 647002.92 Other income
income
sludge drying
第101页深圳南山热电股份有限公司2021年度审计报告
The amount included in current Item of the
gain/loss or loss resulting from amount
related costs off-setting included in
current
Type Amount Balance sheet gain/loss or
Current Last-period loss resulting
amount amount from related
costs
off-setting
Treasury subsidies for Deferred
5100000.00 255000.00 255000.00 Other income
sludge drying income
Subsidy for quality
promotion of the air Deferred
70977273.00 4731818.16 4789725.96 Other income
environment in income
Shenzhen
Special funds for energy
Deferred
conservation and 1530000.00 114037.32 114037.32 Other income
income
emission reduction
Information Deferred
520000.00 25490.12 61176.48 Other income
construction income
Funded of energy
Deferred
efficiency improvement 518400.00 34560.00 34560.00 Other income
income
for electric machine
2021 Technical Deferred
670000.00 18611.10 Other income
Transformation Project income
Total 134098453.00 6370687.84 6360270.84
2. Government subsidies related to income
The amount included in current Item of the
gain/loss or loss resulting from amount included
related costs off-setting in current
Type Amount gain/loss or loss
Last-period resulting from
Current amount
amount related costs
off-setting
VAT refund
1283570.70
Individual tax refund 195684.76 195684.76 375369.20 Other income
Enterprise unemployment
4176211.18
insurance premium refund
Employment and unemployment
1000.00
monitoring subsidy
Reward to encouraging small
and medium-sized enterprise to 27816.00
growth as a scale-sized company
Supporting funds of office
1822300.00
occupancy for listed companies
Special fund for the development
of independent innovation 100000.00 100000.00 500000.00 Other income
industry
Qianhai Epidemic Prevention
448791.00
Support Special Fund
Subsidy of further stable growth 100000.00
Job stabilization subsidy 7964.00 7964.00 21687.31 Other income
Preferential refund of education
fees for comprehensive
517.92
utilization of resources products
and labor
第102页深圳南山热电股份有限公司2021年度审计报告
The amount included in current Item of the
gain/loss or loss resulting from amount included
related costs off-setting in current
Type Amount gain/loss or loss
Last-period resulting from
Current amount
amount related costs
off-setting
National High Multiplication
400000.00 400000.00 Other income
Plan
2021 Power Generation Gas Cost
16322000.00 16322000.00 Operating cost
Subsidy
Total 17025648.76 17025648.76 8757263.31
VI. Change of consolidate scope
No change in the company included in the consolidated statement scope during the reporting
period.VII. Equity in other entity
(1) Equity in subsidiaries
1. Composition of the Group
Main Shareholding ratio (%)
Subsidiary operation Acquired way
place Directly Indirectly
Shen Nan Dian (Zhongshan) Electric Power Co.Zhongshan 55.00 25.00 Establishment
Ltd.Shenzhen Shennandian Turbine Engineering
Shenzhen 60.00 40.00 Establishment
Technology Co. Ltd.Shenzhen Shen Nan Dian Environment Protection
Shenzhen 70.00 30.00 Establishment
Co. Ltd.Shenzhen Server Petrochemical Supplying Co. Ltd Shenzhen 50.00 Establishment
Shenzhen New Power Industrial Co. Ltd. Shenzhen 75.00 25.00 Establishment
Shen Nan Energy (Singapore) Co. Ltd. Singapore 100.00 Establishment
Hong Kong Syndisome Co. Ltd. Hong Kong 100.00 Establishment
Zhongshan Shennandian Storage Co. Ltd. Zhongshan 80.00 Establishment
Zhuhai Hengqin Zhuozhi Investment Partnership Zhuhai 99.96 Establishment
2. Important non-wholly-owned subsidiary
Share-holding Gains/losses
Ending equity of
Subsidiary ratio of attributable to
minority
minority (%) minority in the Period
Shen Nan Dian (Zhongshan) Electric Power
20.00-66151231.09-77880844.12
Co. Ltd.
第103页深圳南山热电股份有限公司2021年度审计报告
3. Main finance of the important non-wholly-owned subsidiary
Ending Balance /Yuan Balance at the end of last year/Yuan
Subsidiary
Non-current Current Non-current Non-current Current Non-current
Current assets Total assets Total liability Current assets Total assets Total liability
assets liability liability assets liability liability
Shennandian
(Zhongshan)
Power Co. Ltd. 32544636.55 231154252.88 263698889.43 647836819.17 5266290.86 653103110.03 63887511.26 486793086.63 550680597.89 603862934.78 5465728.24 609328663.02(“ZhongshanPower”)
Current amount/Yuan Last-period amount/Yuan
Subsidiary Total
Operation Cash flow from operation Total comprehensive Cash flow from operation
Net profit comprehensive Operation Income Net profit
Income activity income activity
income
Shennandian
(Zhongshan) Power
Co. Ltd. 124646010.22 -330756155.47 -330756155.47 -7574929.39 202539109.51 35690722.96 35690722.96 114269754.95(“ZhongshanPower”)
第104页深圳南山热电股份有限公司2021年度审计报告
(2) Equity in joint venture and cooperative enterprise
1. Major joint venture and cooperative enterprise
Name of joint venture Main Share-holding ratio（%） Accounting treatment on
Main business
or cooperative operation investment for joint venture
activities
enterprise place Directly Indirectly and cooperative enterprise
Huidong Server
Renshan
Harbor
Town
Comprehensive Wharf operation 40.00 Equity method
Huidong
Development
County
Company
2. Main financial information of significant joint ventures or associates
Opening Balance/Last-period
Ending Balance /Current amount
amount
Total book value of investment 6986655.19 8893408.86
Total numbers measured by share-holding ratio
Net profit -1906753.67 -5725794.17
Other comprehensive income
Total comprehensive income -1906753.67 -5725794.17
VIII. Risks relating to financial instruments
The Company's main financial instruments include equity investment notes receivable long-term and short-term
loans accounts receivable accounts payable other payable etc. see details of each financial instrument in related
items of this annotation III (10). The risks associated with these financial instruments and the risk management
policies adopted by the Company to reduce these risks are described as below. The management of the Company
manages and monitors these risk exposures to ensure that the above risks are controlled within the limit range.The Company uses the sensitivity analysis technique to analyze the possible impact of the risk variable on the
current profit and loss or the shareholders' equity. Since any risk variable rarely changes in isolation and the
correlation existing among the variables shall have a significant effect on the final amount of changes about a
certain risk variable therefore the following proceeds by assuming that the change in each variable is
independent.
(1) Credit risk
Credit risk refers to the risk that one party to a financial instrument fails to perform its obligations causing the
other party to suffer financial losses. The Company is mainly faced with customer credit risk caused by credit
第105页深圳南山热电股份有限公司2021年度审计报告
sales. Before signing a new contract the Company will evaluate the credit risk of the new customer including the
external credit rating and in some cases the bank credit certificate (when this information is available). The
company has set a credit limit for each customer which is the maximum amount without additional approval.The company ensures that the company's overall credit risk is within a controllable range through quarterly
monitoring of existing customer credit ratings and monthly review of accounts receivable aging analysis. When
monitoring the credit risk of customers they are grouped according to their credit characteristics. Customers rated
as "high risk" will be placed on the restricted customer list and only with additional approval the company can
sell them on credit in the future otherwise they must be required to pay the corresponding amount in advance.
(2) Market risk
Market risks of financial instruments refers to the risks that the fair value or future cash flow of such financial
instruments will fluctuate due to the changes in market prices including FX risks interest rate risks and other
price risks.
(1) Interest rate risk
The Company's cash flow change risk of financial instruments arising from interest rate change is mainly related
to the floating interest rate bank loans.Interest rate risk sensitivity analysis:
The interest rate risk sensitivity analysis is based on the following assumptions:
Changes in market interest rates affect the interest income or expense of financial instruments with variable
interest rate; For financial instruments with fixed rate by fair value measurement the changes in market interest
rates only affect their interest income or expense; For derivative financial instruments designated as hedging
instruments the changes in market interest rates affect their fair value and all interest rate hedging prediction is
highly effective; Calculate the changes in fair value of derivative financial instruments and other financial assets
and liabilities by using the cash flow discount method at the market interest rate at the balance sheet date.As of 31 December 2021 interest on bank loans at floating interest rate totaled 4849829.00Yuan. Based on the
above assumptions and with other variables unchanged the pre-tax impact of a 5% changes in interest rate on
current gain/loss and shareholders’ equity is as follows:
Current year Last year
Rate changes Impact on shareholders’ Impact on shareholders’
Impact on profit Impact on profit
equity equity
5% increased -242491.45 -242491.45 -14399.25 -14399.25
5% decreased 242491.45 242491.45 14399.25 14399.25
第106页深圳南山热电股份有限公司2021年度审计报告
(2) FX risks
Foreign exchange risk refers to the risk of losses due to exchange rate changes. The Company’s foreign exchange
risk is mainly related to the US dollar. On Dec. 31 2021 except for the balance of foreign currency monetary
items of (48) foreign currency monetary in Note V the assets and liabilities of the Company are RMB balance.The foreign exchange risk arising from the assets and liabilities of such foreign currency balances may have an
impact on the Company's operating results.
(3) Liquidity risk
Liquidity risk refers to the risk of a shortage of funds when an enterprise fulfills its obligation of settlement by
means of cash or other financial assets. The Company's policy is to ensure that it has sufficient cash to repay the
debts due. Liquidity risk is centrally controlled by the Company's financial department. The financial department
monitors cash balances marketable securities that can be cashed at any time and rolling forecasts of cash flows in
the next 12 months to ensure that the company has sufficient funds to repay debts under all reasonable forecasts.IX. Related party and related party transactions
(1) Parent company of the Group
Share holding proportion of any shareholder of the Company didn't reach 50% and couldn't form a holding
relationship of the Company through any methods. The Company has no parent company.
(2) Subsidiaries of the Company
See details in Note VII. (1) Equity in other entity
(3) Joint venture and affiliated enterprise of the Group
See details in Note VII. (2) Interest in joint venture arrangements or associates
(4) Other related party
Other related party Relationship with the Company
Shenzhen Energy Group Co. Ltd. (“Shenzhen Energy Group” for Legal person holding more than 5% of the company's
short) shares
Shenzhen Guangju Industrial Co. Ltd. Legal person holding more than 5% of the company's
shares
HONG KONG NAM HOI (INTERNATIONAL) LTD. Legal person holding more than 5% of the company's
shares
Legal person indirectly holding more than 5% of the
Shenzhen Capital Holdings Co. Ltd.company's shares through Shenzhen Energy Group
Directors supervisors and senior management of the company Key managers
(5) Related party transaction
1. Remuneration of key manager
第107页深圳南山热电股份有限公司2021年度审计报告
Item Current amount Last-period amount
Remuneration of key manager 6373300 Yuan 5301000 Yuan
(6) Receivable/payable items of related parties
1. Receivable
Item Related party Ending book balance Book balance at last year-end
Other account
receivable
Huidong Server 14740501.44 14740501.44
Huidong Server managed
1014945.196634071.38
account
Total 15755446.63 21374572.82
X. Commitment and Contingency
(1) Major Commitment
As of December 31 2021 the company has no commitments that need to be disclosed.
(2) Contingency
As of December 31 2021 the company has no commitments that need to be disclosed.XI. Events Occurring after the Balance Sheet Date
As of the date of this report the company has no contingencies that need to be disclosed.
(1) Important non-adjusting matters
Nil
(2) Note of other events occurring after the balance sheet date
Nil
(3) Segment information
1. Determining basis and accounting policies of the report divisions
According to the Company’s internal organizational structure management requirements and internal reporting
system the Company’s operating business is divided into three business divisions i.e. power supply and heating
fuel trading and other businesses. The Company’s management regularly evaluates the business performance of
these divisions in order to determine the allocation of resources and evaluate the performance.Divisional reporting information is disclosed in accordance with the accounting policies and measurement
第108页深圳南山热电股份有限公司2021年度审计报告
standards adopted when each division reports to the management. These measurement bases are consistent with
the accounting and measurement bases used when preparing financial statements.
2. Financial information of the reportable segment
Item Power supply & heating Fuel trading Other Fuel trading Total
Operation income
797730101.421196857.1647097449.1888848664.35757175743.41
Operation cost
902277301.90215877.1033417537.2385650056.83850260659.40
Total assets
3391577016.75101091770.98371549715.651074215678.972790002824.41
Total liabilities
1897219137.1017616043.7139375959.92742550231.761211660908.97
XII. Note to main items of financial statements of the Company
(1) Account receivable
1. Age analysis
Age Ending Balance Balance at the end of last year
Within 1year 35966056.15 24673115.32
Over 3 years
Subtotal 35966056.15 24673115.32
Less: Bad debt provision
Total 35966056.15 24673115.32
2. According to accrual method for bad debts
Ending Balance
Category Book balance Bad debt provision
Book value
Proportion Accrual
Amount Amount
(%) proportion (%)
Bad debt by single provision
Provision for bad debts by
combination of risk 35966056.15 100.00 35966056.15
characteristics
Including: risk-free portfolio 35966056.15 100.00 35966056.15
Total 35966056.15 100.00 35966056.15
第109页深圳南山热电股份有限公司2021年度审计报告
Balance at the end of last year
Category Book balance Bad debt provision
Book value
Proportion Accrual
Amount Amount
(%) proportion (%)
Bad debt by single provision
Provision for bad debts by
combination of risk 24673115.32 100.00 24673115.32
characteristics
Including: risk-free portfolio 24673115.32 100.00 24673115.32
Total 24673115.32 100.00 24673115.32
Provision for bad debts by portfolio:
Ending Balance
Name
Account receivable Bad debt provision Accrual proportion (%)
Grid accounts receivable 35966056.15
Total 35966056.15
3. Top 5 receivables at ending balance by arrears party
Total period-end balance of top five receivables by arrears party amounting to 35966056.15 Yuan takes 100.00%
of the total account receivable at period-end bad debt provision accrual correspondingly at period-end amounting
as 0 Yuan
(2) Other account receivable
Item Ending Balance Balance at the end of last year
Interest receivable
Dividends receivable
Other account receivable 618436063.60 598044417.89
Total 618436063.60 598044417.89
1. Other account receivable
(1)Age analysis
Age Ending Balance Balance at the end of last year
Within 1year 98550452.19 6702182.44
第110页深圳南山热电股份有限公司2021年度审计报告
Age Ending Balance Balance at the end of last year
1-2 years 64095.20 35844839.81
2-3 years 35844839.81 10166211.56
Over 3 years 511306319.84 572660827.52
Subtotal 645765707.04 625374061.33
Less: Bad debt provision 27329643.44 27329643.44
Total 618436063.60 598044417.89
(2) By category
Ending Balance
Book balance Bad debt provision
Category
Accrual Book value
Amount Proportion (%) Amount proportion
(%)
Bad debt by single
27965391.684.3327329643.4497.73635748.24
provision
Provision for bad debts by
combination of risk 617800315.36 95.67 617800315.36
characteristics
Including: risk-free
617800315.3695.67617800315.36
portfolio
Total 645765707.04 100.00 27329643.44 4.23 618436063.60
Balance at the end of last year
Book balance Bad debt provision
Category
Accrual Book value
Amount Proportion (%) Amount proportion
(%)
Bad debt by single provision 28023159.22 4.48 27329643.44 97.53 693515.78
Provision for bad debts by
combination of risk 597350902.11 95.52 597350902.11
characteristics
Including: risk-free portfolio 597350902.11 95.52 597350902.11
Total 625374061.33 100.00 27329643.44 4.37 598044417.89
With single provision for bad debts:
Ending Balance
Name
Accrual
Book balance Bad debt provision Causes
proportion (%)
第111页深圳南山热电股份有限公司2021年度审计报告
Ending Balance
Name
Accrual
Book balance Bad debt provision Causes
proportion (%)
Individual income tax 2470039.76 2470039.76 100.00 Unable to recover
Dormitory amount receivable 2083698.16 1736004.16 83.31 Unable to recover
Huiyang Kangtai Industrial
14311626.70 14311626.70 100.00 Unable to recover
Company
Beneficiary fund dividends
7498997.87 7498997.87 100.00 Unable to recover
(personal receivables)
Deposit receivable 1601029.19 1312974.95 82.01 Unable to recover
Total 27965391.68 27329643.44 97.73
(3) Accrual of bad debt provision
Phases I Phases II Phases III
Expected credit
Expected credit losses
Bad debt provision Expected credit losses for the entire Total
for the entire duration
losses over next duration (with
(without credit
12 months credit impairment
impairment occurred)
occurred)
Balance at year-begin 27329643.44 27329643.44
Balance at year-begin of the period
——Turn to phase II
——Turn to phase III
——Return to Phase II
——Return to Phase I
Current accrual
Current switch back
Rewrite in the period
Write-off in the period
Other changes
Ending Balance 27329643.44 27329643.44
(5) By nature
Nature Ending book balance Book balance at last year-end
Related party transactions 616401741.49 596066327.13
Dormitory receivable 2083698.16 2083698.16
Deposit receivable 1750498.58 1658753.42
第112页深圳南山热电股份有限公司2021年度审计报告
Nature Ending book balance Book balance at last year-end
Personal money 8567330.57 9969037.63
Other 16962438.24 15596244.99
Subtotal 645765707.04 625374061.33
Less: Bad debt provision 27329643.44 27329643.44
Total 618436063.60 598044417.89
(3) Long-term equity investment
Ending Balance Balance at the end of last year
Item
Depreciation Depreciation
Book balance Book value Book balance Book value
provision provision
Investment in
716893717.00429592447.19287301269.81597936200.00347745035.00250191165.00
subsidiary
Total 716893717.00 429592447.19 287301269.81 597936200.00 347745035.00 250191165.00
1. Investment to subsidiary
Period-end
Impairment
Balance at the Current Current Ending balance of
The invested entity provision accrual
end of last year increased Decreased Balance depreciation
in the Period
reserves
Shenzhen Xiefu Oil
26650000.0026650000.00
Supply Company
Shennan Energy
Singapore 6703800.00 6703800.00
Company
Shenzhen New
Power Industrial 71270000.00 71270000.00
Co. Ltd.Shen Nan Dian
(Zhongshan)
410740000.00410740000.0062994965.00410740000.00
Electric Power Co.Ltd.Shenzhen
Shennandian
Turbine
6000000.006000000.00
Engineering
Technology Co.Ltd.Shenzhen Shen
Nan Dian
55300000.0055300000.0018852447.1918852447.19
Environment
Protection Co. Ltd.Zhuhai Hengqin
Zhuozhi
Investment
21272400.00118957517.00140229917.00
Partnership
(Limited
Partnership)
Total 597936200.00 118957517.00 716893717.00 81847412.19 429592447.19
第113页深圳南山热电股份有限公司2021年度审计报告
(4) Operation revenue and operation cost
Current amount Last-period amount
Item
Revenue Cost Revenue Cost
Main business 304694251.31 409069566.58 309680939.69 344087651.19
Other business 88487552.28 491345.55 66299908.86 6677789.32
Total 393181803.59 409560912.13 375980848.55 350765440.51
(5) Investment income
Item Current amount Last-period amount
Investment income from disposal of long-term equity investments -14432400.00
Investment income from trading financial assets during the holding period 47412260.98
Dividend income earned during the holding period of investments in other
252016.49
equity instruments
Total 47664277.47 -14432400.00
XIII. Supplementary information
(1) Statement of non-recurring gains/losses
Item Amount Note
Gains and losses from disposal of non-current assets 974699.74
Tax refund or mitigate due to examination-and-approval beyond power or
without official approval document
Governmental subsidy reckoned into current gains/losses(not including the
subsidy enjoyed in quota or ration which are closely relevant to 23396336.60
enterprise’s normal business
Capital occupancy expense collected from non-financial enterprises and
recorded in current gains and losses
Income from the exceeding part between investment cost of the Company
paid for obtaining subsidiaries associates and joint-ventures and
recognizable net assets fair value attributable to the Company when
acquiring the investment
Gains and losses from exchange of non-monetary assets
Gains and losses from assets under trusted investment or management
Various provision for impairment of assets withdrew due to act of God
such as natural disaster
Gains and losses from debt restructuring
Enterprise restructuring costs such as expenses for staff placement
integration costs etc
Gains and losses of the part arising from transaction in which price is not
fair and exceeding fair value
第114页深圳南山热电股份有限公司2021年度审计报告
Item Amount Note
Current net gains and losses occurred from period-begin to combination
day by subsidiaries resulting from business combination under common
control
Gains and losses arising from contingent proceedings irrelevant to normal
5000000.00
operation of the Company
Except for effective hedge business relevant to normal operation of the
Company gains and losses arising from fair value change of Trading
financial assets and tradable financial liabilities and investment income 47887839.11
from disposal of Trading financial assets tradable financial liabilities and
financial assets available for sale
Switch-back of provision of impairment of account receivable which are
treated with separate depreciation test
Gains and losses obtained from external trusted loans
Gains and losses arising from change of fair value of investment real estate
whose follow-up measurement are conducted according to fair value
pattern
Affect on current gains and losses after an one-time adjustment according
to requirements of laws and regulations regarding to taxation and
accounting
Trust fee obtained from trust operation
Other non-operating income and expenditure except for the aforementioned
13652.99
items
Other gains and losses items complying with definition for non-recurring
gains and losses
Subtotal 77272528.44
Less: impact on income tax
Less: impact on minority equity 2579026.82
Total 74693501.62
(2) ROE and EPS
EPS (Yuan)
Weighted average
Profit in the PeriodROE (%)）
Basic EPS Diluted EPS
Net profit attributable to shareholders of the
-23.95-0.7291-0.7291
listed company
Net profit attributable to shareholders of the
listed company after deducting non-recurring -28.02 -0.8530 -0.8530
gains and losses
Shenzhen Nanshan Power Co. Ltd
(Stamped)
March 23 2022
沪公网安备31011802005267号
