address from the chairman
on behalf of the board of directors and the top management, i would like to deliver to you the annual report 2020 of cooec to report the company's performance and development changes in 2020 and brief you on the company's development trends and main tasks in 2021. 2020, an extremely challenging but fruitful year 2020 is an extraordinary and challenging year in the company's history of development. in the face of the sudden outbreak of covid-19, sharp fluctuations in international oil prices and other complicated and severe external impacts, the company鈥檚 board of directors and top management, always standing at the height of increasing domestic oil and gas reserves and production, have been focusing on its main business and seeking development opportunities with firm confidence in accordance with the "1235鈥?development layout. while winning the victory of epidemic prevention and control and production and operation, the company has made positive achievements through continuous deepening of reforms, optimizing corporate governance, strengthening risk prevention and control of overseas projects and building epci general contracting capabilities. during the whole year of 2020, 51 projects were efficiently operated, the construction workload exceeded the peak in the past, all major milestones were achieved, and the quality and safety performance fully met the expected standards. the "10 1" projects were put into production ahead of schedule after overcoming all the challenges, and the deepwater projects represented by the lingshui project and the liuhua project made major breakthroughs. the company's deepwater project construction capabilities have made significant progress, and epidemic prevention and control, market development, cost reduction, quality improvement and efficiency enhancement, reform deepening and other work have also achieved positive results. the annual operating revenue is 17.863 billion yuan and the net profit attributable to shareholders of listed companies is 363 million yuan, marking a significant increase in operating efficiency. as of the end of 2020, the total assets are 33.282 billion yuan, the net assets are 22.665 billion yuan, and the asset-liability ratio is 32%. in order to share the development achievements with the shareholders, the board of directors proposed the distribution of a cash dividend of 0.07 yuan per share (tax included) for 2020, with a dividend amount of 309 million yuan, accounting for 85% of the net profit achieved in the year. in 2021, let's forge ahead and start a new journey 2021 is the first year of the "14th five-year plan". standing at a new historical starting point, the company will implement new development concepts, build a new development pattern, and create a new chapter of high-quality development. compared with 2020, the company's production tasks in 2021 will be even more challenging. there are 17 domestic offshore oil and gas field projects to be completed and put into production. the overall workload of onshore construction and offshore installation will exceed the peak in the past, therefore the pressure on safety, quality and resource protection will multiply. in the face of a more challenging production situation, the company will vigorously change its work style, improve efficiency and promote safe, efficient and high-quality execution of projects to ensure that major milestones of each project are achieved as planned. the company will continue to do a good job in the normal prevention and control of the covid-19 epidemic, deepen reforms, vigorously explore both domestic and international markets, vigorously reduce costs, improve quality and increase efficiency and strengthen party building so as to ensure the successful completion of all tasks in 2021 and achieve high-quality and efficient development by means of lean management, safeguarding a good start for the "14th five-year plan". finally, on behalf of the board of directors and the top management, i would like to express my heartfelt thanks to the employees for their hard work for the development of the company! i sincerely thank all shareholders and friends from all walks of life for their help and support! yu yi |
dear shareholders and friends,