Guangzhou Development

Guangzhou Development Group Joint-stock Co., Ltd., as a large state-controlled company in Guangzhou (abbreviated as "Guangzhou Development", securities code: 600098), focuses on the strategic positioning and development goal of building a large clean energy supplier with significant influence in South China, adheres to the business model combining industrial operation with capital operation, and concentrates on building an industrial pattern with coordinated development of businesses such as electricity, energy logistics, gas, new energy, and energy finance. Since its listing, Guangzhou Development has established a good image of excellent performance and blue chips in China's capital market, having distributed cash dividends for 21 consecutive years, with an average annual cash dividend ratio exceeding 40% of net profit attributable to parent company, achieving good returns to shareholders and gaining wide recognition from the capital market, becoming a constituent stock of the CSI 500 Index, the Shanghai Utilities Index, and the Shanghai Corporate Governance Index. In 2019, the company's total annual operating revenue exceeded 29 billion yuan, and total assets exceeded 42 billion yuan.
In recent years, while consolidating its comprehensive energy industry, Guangzhou Development has continuously deepened the reform of state-owned enterprises, achieving new results in enterprise development and technological innovation. It has adjusted and optimized the power industry structure, expanded businesses such as electricity sales, incremental distribution networks, energy storage, energy maintenance and technical services, and integrated energy services; integrated the industrial chain resources of energy logistics business, pioneered the creation of a coal trading e-commerce platform in the industry, and implemented a brand enhancement strategy; actively promoted the city's key energy engineering projects - the Guangzhou LNG Emergency Peak-shaving Gas Source Station Project and the fourth phase of the natural gas utilization project, opened up direct procurement channels for overseas spot gas, and established a multi-level and multi-channel gas source supply guarantee system; rapidly expanded the installed capacity of new energy, increased investment and mergers and acquisitions in high-quality wind power and photovoltaic power generation projects; actively developed new businesses such as IoT smart gas meters, electric vehicle charging, building distributed energy, and smart energy. The enterprise's innovation capability has been comprehensively enhanced, establishing a company technological innovation system, with 18 subsidiaries recognized as high-tech enterprises, becoming an important force for the company's innovative development, with fruitful scientific and technological innovation achievements. As of the end of 2019, the company had accumulated 220 valid patents and recognized 22 high-tech products.
Looking forward, Guangzhou Development will focus on the strategic positioning and development goal of building a large clean energy supplier with significant influence in South China, in accordance with the Guangdong-Hong Kong-Macao Greater Bay Area planning and high-quality development requirements, adhere to the new development concept, persist in reform and innovation, provide clean, low-carbon, safe, and efficient energy guarantees for the Guangdong-Hong Kong-Macao Greater Bay Area, make greater contributions to accelerating the realization of "four new achievements and highlights" and helping Guangzhou achieve new vitality for the old city.