Protecting Legitimate Rights of Shareholders and
Creating Good Returns for Them
For the past 10 years since going public, CYPC has been a forceful driver of the idea of value investment in China's capital market and has been adhering to it's operation principle of "integrity management, standardized governance, transparent information and performance excellence", attaching great importance to shareholders' rights. Having created good returns for it's shareholders, CYPC has become known as a high-quality blue-chip stock with a considerable capitalization and has won long-term trust and support from a vast amount of shareholders.
Scientific Management for the Protection of Shareholders' Equity
Strictly following the supervisory requirements, CYPC has established and has been improving it's legal governance structure focusing on the points raised during the general meeting of shareholders, the Board of Directors, the Board of Supervisors and the management of the company. It has established and improved 24 basic management systems including the Rules of Procedure of the Board of Shareholders, Rules of Procedure of the Board of Directors, and Rules of Procedure of the Board of Supervisors, which are constantly supplemented and improved. All major decisions must be compliant with laws and regulations and must follow strict decision-making procedures; on-line voting is enabled for all general meetings of shareholders to ensure the participation of general shareholders in decision-making.
Strategic investors have been introduced into the Board of Directors and the Board of Supervisors. In 2016, after a major asset restructuring of Chuanyun Company, the company reorganized it's Board of Directors and Board of Supervisors according to it's commitment, introducing four strategic investors, namely, Sichuan Energy Industry Investment Group Co., Ltd., Yunnan Provincial Energy Investment Group Co., Ltd., Pingan Asset Management Co., Ltd., and Sunshine Asset Management Corporation Ltd., to optimize the governance structure of the company, improve decision-making and strengthen the protection of shareholders' rights.
Communication with Shareholders
For more than 10 years, the company has been strictly standardizing information disclosure and has been implementing it's responsibility of information disclosure in a genuine, accurate, integral and timely manner as per regulatory requirements to earnestly protect the right to know of all shareholders. It attaches great importance to the management of investor relations, and has been constantly improving the management system for investor relations on the basis of the Investor Relations Management
System, specifying the administrative body and standardizing related issues such as shareholders reception, Q&A, external speeches, and interviews with media. Regularly scheduled briefings on performance are held and irregularly scheduled on-site visits and inspections are arranged as well; communication channels such as the corporate website has been constantly improved; and claims of shareholders are listed to ensure that the communication channels are smooth and effective. In 2015, the company was rated as a "most respectable listed company among investors", and one of the "Top 100 Most Valuable Listed Companies on China's Main Board", etc.
Operation with Integrity to Create Good Returns for Shareholders
Taking Shareholder Rights into Full Consideration, Enhancing Performance through Acquisitions
Since becoming a public company, CYPC has been continually and steadily enhancing it's performance and increasing it's scale through acquiring the mature power generating assets already completed and in production from it's parent company step by step. To be specific, the six purchases of generating sets have been made either with all-cash payment or through issuing corporate bonds for the majority of transaction values and shares for the rest to increase EPS and to fully protect the interests of shareholders, old or new.
Rewarding Shareholders with High Proportions of Cash Dividend
According to Article 180 of the Corporate Prospectus of CYPC, in principle, the Company's cash dividend is no lower than 50% of the profit made by the parent company available for distribution to it's shareholders.
Since it went public in 2003, the Company has always been attaching importance to the protection of shareholders' rights. As a leader in value investment, it has been implementing active profit distribution policies, with cash payout ratio each year over 50% over the past years. By financial year 2015, the Company had cumulatively distributed 47.774 billion RMB of cash dividend, which is much higher than the sum of 10 billion RMB it raised with it's IPO, which has won unanimous praise from it's shareholders.
Upon the completion of the major asset restructuring with Jinshajiang Chuanyun Company, CYPC made a commitment regarding dividend for the future 10 years: for 2016-2020, per-share cash dividend will be no lower than 0.65 RMB, and the total cash dividend will be no lower than 14.3 billion RMB, with 5-year cumulative cash dividend no lower than 71.5 billion RMB; for 2021-2025, total cash dividend each year will be no lower than 70% of the net profit of the year.
Since it went public in 2003
Cash payout ratio each year over the past years
In recent years, reached
Cumulatively distributed cash dividend
Overview of Dividend Distribution by CYPC for 13 Years since IPO (Tax Included)
Total cash dividend will be no less than
Five-year cumulative cash dividend no less than
Cash bonus shall be distributed each year in the amount of no less than
70%of the net profit realized in the year
CYPC's e-commerce network (ECN) is a unified and centralized platform that we have developed to meet the company's demands for cross-regional procurement of supplies for production at various power stations. ECN's functions include product catalog management, electronic transaction management, analytics and statistics, business interfaces, supplier management, online evaluation of bids, and security authentication...
We offer users integrated services of power distribution and sales, covering such areas as consultancy, energy procurement, distribution network construction, value-added services, energy permit trading and more. Please fee free to call us for more information...
We welcome all kinds of talents. Based on the company's overall strategy, we have worked out a human resources plan that ensures a reasonable structure for a staff with the right number of people. Plus, we have put in place a comprehensive recruitment procedure that adopts stringent criteria for screening candidates and picks the best of the best for the company...