香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Beijing Jingneng Clean Energy Co., Limited 北京京能清潔能源電力股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00579） 公告 截至2024年9月30日止9個月的內部財務數據 本公告乃由北京京能清潔能源電力股份有限公司（「本公司」）根據證券及期貨條例第XIVA 部項下內幕消息條文（定義見香港聯合交易所有限公司證券上巿規則（「上市規則」），及上 巿規則第13.09(2)條作出。 由於本公司已於中國公開發行債務融資工具，本公司根據中國人民銀行及中國銀行間巿 場交易商協會的相關規則及法規，公佈本公司及其附屬公司根據中國公認會計原則所編 製截至2024年9月30日止9個月的內部財務數據。 投資者務請注意，截至2024年9月30日止9個月的內部財務數據並無經獨立核數師審核， 亦無經本公司審計委員會審閱。 有關文件已於2024年10月31日分別在中 ...

交银国际研究 公司更新 收盘价 目标价 潜在涨幅 港元 2.04 港元 2.37↓ +16.2% 新能源 2024 年 10 月 21 日 京能清洁能源 (579 HK) 四川水电厂解网影响轻微，预期补偿款明年到位 86 兆瓦水电装机因配合政策需退出运行。公司近期收到四川省芦山县当 地政府通知，为加强位于四川省的大熊猫国家公园的生态环境及景观的保 护，减少国家公园内的电站运营对周边环境的不利影响，公司位于四川省 芦山县的四座水电站（共86.4兆瓦装机）需尽快解网并退出运行。公司预 计 2024 年内的水力发电量减少约 1.1 亿千瓦时，营业收入预计减少约 3 千 万元（人民币，下同），同时预计相关减值金额在 7.5-8.5 亿元。 预期补偿款 2025 年到位。去年公司亦有两个位于四川的水电项目因成都 市小水电清理退出政策而停止运营，相关减值项（商誉、经营权及设备 等）约为2.1亿元，于今年上半年已收到补偿款2.3亿元，应能覆盖减值金 额。我们估计公司在年内核算减值金额后应可与地方政府确认补偿款金 额，并于2025年中收到补偿款，我们相信今次公司能得到合理的补偿款。 2024 年将有一次性减值，2025-26 ...

BJE Beijing Jingneng Clean Energy Co., Limited 北京京能清潔能源電力股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 股份代號：00579 02 中 期 報 告 目錄 頁數 2 財務摘要 3 公司資料 5 管理層討論與分析 21 企業管治及其他資料 25 未經審核簡明合併損益表 26 未經審核簡明合併損益及其他綜合收益表 27 未經審核簡明合併財務狀況表 29 未經審核簡明合併權益變動表 31 未經審核簡明合併現金流量表 32 簡明合併財務報表附註 財務摘要 收入 人民幣百萬元 0 2,200 4,400 6,600 8,800 11,000 2023年上半年 2024年上半年 10,549 10,460 本公司權益持有人應佔期內溢利 0 350 700 1,050 1,400 1,750 2,100 人民幣百萬元 2023年上半年 2024年上半年 2,055 2,087 每股盈利 人民幣分 0 5 10 15 20 30 25 2023年上半年 2024年上半年 24.92 25.31 2024 中期報告 北京京能清潔能源電力股份有限公司 2 公司資料 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Beijing Jingneng Clean Energy Co., Limited 北京京能清潔能源電力股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00579） 截至2024年6月30日止六個月之中期業績公告 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 截至 2024 年 6 月 30 日止六個月，收入人民幣 10,460.0 百萬元，與 2023 年同期相比減 少 0.84% 。 | | • | 截至 2024 年 6 月 30 日止六個月，除稅前溢利人民幣 2,615.2 百萬元，與 2023 年 ...

交银国际研究 公司更新 新能源 收盘价 目标价 潜在涨幅 2024年6月13日 港元2.16 港元2.50↑ +15.7% 京能清洁能源 (579 HK) 2025 年盈利重回增长趋势预期不变，股息率仍为子行业中最高  风/光发电量上半年与同业情况一致。因公司没有披露月度运营数据，我 个股评级 们近期与公司更新了营运情况。现时我们预期公司年初至今风/光利用小 买入 时与其它同业的情况相若，即上半年仍较大机会出现中单位数的同比下 跌。我们原预期公司对项目微调带来的利用小时上升，现时应基本被抵 销。因此，我们下调公司2024/25年发电量预测约1%/2%以反映现时较保 1年股价表现 守的发电量预期。 579 HK 恒生指数  2024 年仍较有可能在风/光装机量上取得突破。虽然发电量应略低于预 20% 15% 期，但我们认为公司今年风/光新增装机达 2.7 吉瓦的目标应如期完成 10% 5% （对比公司2023年新增装机为0.8吉瓦），推动2025年的盈利增长。公 0% 司在今年1季度已有1.69吉瓦的风/光在试运营中，公司早前已表示这部 -5% -10% 份的装机将较大机会在今年2-3季度开始正式运营。按公 ...

Table_BaseInfo 2024 年 6月 5 日 公司动态分析 京能清洁能源（0579.HK） 证券研究报告 高股息快速发展的清洁能源运营商 公用事业 投资评级： 未有 京能清洁能源是京能集团控股子公司，2011年于港交所主板上市。公司业务发展包 括经营北京地区燃气发电及供热业务，及风电、光伏发电、中小型水电、储能及其 目标价格： 未有 他清洁能源发电业务。公司业务覆盖北京、内蒙、宁夏、四川、湖南、广东等26个 省市自治区。京能清洁能源是中国领先的风电及光伏发电运营商，北京最大燃气热 现价 (2024-6-4)： 2.09港元 电供应商，是行业领先清洁能源企业。 报告摘要 总市值(百万港元) 17,231.02 京能清洁能源是北京最大燃气发电商。燃气发电及供热分部是公司较早发展的业务 流通市值(百万港元) 5,914.02 分部，2023年贡献公司收入61%，贡献公司经营利润36%。公司是北京最大的燃 总股本(百万股) 8,244.51 气发电商，燃气热电业务主要位于北京，目前有 8 家燃气电厂，其中北京的 7 家 流通股本(百万股) 2,829.68 均已投产运营，京外尚有一家目前处于基建期。公司持 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Beijing Jingneng Clean Energy Co., Limited 北京京能清潔能源電力股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00579） 公告 截至2024年3月31日止3個月的內部財務數據 本公告乃由北京京能清潔能源電力股份有限公司（「本公司」）根據證券及期貨條例第XIVA 部項下內幕消息條文（定義見香港聯合交易所有限公司證券上巿規則（「上市規則」），及上 巿規則第13.09(2)條作出。 由於本公司已於中國公開發行債務融資工具，本公司根據中國人民銀行及中國銀行間巿 場交易商協會的相關規則及法規，公佈本公司及其附屬公司根據中國公認會計原則所編 製截至2024年3月31日止3個月的內部財務數據。 投資者務請注意，截至2024年3月31日止3個月的內部財務數據並無經獨立核數師審核， 亦無經本公司審計委員會審閱。 有關文件已於2024年4月26日分別在中國 ...

Financial Performance - Revenue for 2023 reached RMB 20,446.028 million, showing a steady increase from previous years[4] - Net profit attributable to equity holders of the company for 2023 was RMB 3,057.641 million, up from RMB 2,841.680 million in 2022[4] - Basic and diluted earnings per share for 2023 were RMB 37.09 cents, up from RMB 34.47 cents in 2022[4] - The company achieved operating revenue of RMB 20.446 billion and pre-tax profit of RMB 4.144 billion in 2023, both reaching historical highs[8] - Renewable energy contributed RMB 29.09 billion in pre-tax profit, a year-on-year increase of 11.72%[11] - The company's net asset return rate attributable to equity holders was 10.32% in 2023, an increase of 0.16 percentage points year-on-year[11] - The company's gas power generation segment achieved pre-tax profit of RMB 1.865 billion, a year-on-year increase of 3.50%[11] - In 2023, the company achieved a net profit of RMB 3,235.2 million, a 7.01% increase from 2022, with attributable profit to equity holders rising 7.60% to RMB 3,057.6 million[23] - Total operating revenue increased by 2.08% to RMB 20,446.0 million in 2023, driven by increased electricity sales from gas power and heating, as well as wind and solar power capacity expansion[24] - Wind power revenue increased by 4.50% to RMB 4,511.9 million in 2023 due to increased installed capacity and electricity sales[26] - Solar power revenue rose by 8.74% to RMB 2,957.8 million in 2023, driven by increased installed capacity and electricity sales[27] - Hydropower revenue decreased by 12.40% to RMB 322.7 million in 2023 due to reduced electricity sales[28] - Other operating revenue, mainly from financial leasing and equipment maintenance, decreased by 46.05% to RMB 85.4 million in 2023 due to reduced external financial leasing income[28] - Other income increased by 6.76% from RMB 1,055.4 million in 2022 to RMB 1,126.7 million in 2023, driven by increased VAT refunds and carbon emission reduction certificate income[29] - Operating expenses rose by 2.95% from RMB 15,914.8 million in 2022 to RMB 16,384.8 million in 2023, due to increased capacity in wind and photovoltaic power generation[30] - Employee costs increased by 10.29% from RMB 1,227.1 million in 2022 to RMB 1,353.4 million in 2023, driven by business expansion and new project costs[33] - Maintenance costs decreased by 42.60% from RMB 560.5 million in 2022 to RMB 321.7 million in 2023, due to cost reduction measures and fewer major repairs[34] - Operating profit increased by 0.33% from RMB 5,170.9 million in 2022 to RMB 5,187.9 million in 2023, with wind power division profit up 15.29% to RMB 2,502.9 million[37] - Hydropower division turned a profit of RMB 142.6 million in 2022 into a loss of RMB 12.8 million in 2023 due to asset impairment[38] - Financial expenses decreased by 17.16% from RMB 1,501.0 million in 2022 to RMB 1,243.4 million in 2023, driven by lower financing costs[40] - Net profit attributable to equity holders increased by 7.60% from RMB 2,841.7 million in 2022 to RMB 3,057.6 million in 2023[43] - Revenue for the year ended December 31, 2023, increased to RMB 20,446,028 thousand, up 2.1% from RMB 20,030,281 thousand in 2022[200] - Operating profit for 2023 was RMB 5,187,881 thousand, slightly higher than RMB 5,170,923 thousand in 2022[200] - Net profit for the year increased to RMB 3,235,203 thousand, up 7.0% from RMB 3,023,414 thousand in 2022[200] - Earnings per share (basic and diluted) rose to RMB 37.09 cents, up from RMB 34.47 cents in 2022[200] - Gas consumption costs for 2023 were RMB 9,365,354 thousand, a 1.9% increase from RMB 9,186,941 thousand in 2022[200] - Depreciation and amortization expenses increased to RMB 3,847,886 thousand, up 4.5% from RMB 3,680,958 thousand in 2022[200] - Employee costs rose to RMB 1,353,435 thousand, a 10.3% increase from RMB 1,227,118 thousand in 2022[200] - Financial expenses decreased to RMB 1,243,402 thousand, down 17.2% from RMB 1,500,967 thousand in 2022[200] - Profit attributable to equity holders of the company increased to RMB 3,057,641 thousand, up 7.6% from RMB 2,841,680 thousand in 2022[200] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 93,594.441 million, with non-current assets at RMB 73,782.632 million[5] - Total equity attributable to equity holders of the company was RMB 30,678.046 million as of December 31, 2023[5] - Total assets of the company reached RMB 93.59 billion by the end of 2023, with a total installed capacity of 14.482 million kilowatts, of which renewable energy accounted for 9.78 million kilowatts, representing 68% of the total installed capacity[8] - Total assets increased by 6.36% from RMB 88,000.2 million in 2022 to RMB 93,594.4 million in 2023, driven by new and acquired projects[45] - Net debt-to-equity ratio decreased slightly from 55.79% in 2022 to 55.65% in 2023, with total borrowings increasing by 7.62% to RMB 49,920.8 million[47] - The company's bank borrowings are secured by property, plant, and equipment worth RMB 2,489.8 million, trade receivables worth RMB 2,512.0 million, finance lease receivables worth RMB 309.7 million, and restricted bank deposits worth RMB 46.9 million as of December 31, 2023[87] Renewable Energy Capacity - The company's total installed capacity for power generation reached 14.482 million kW, with renewable energy capacity at 9.78 million kW[6] - Wind power installed capacity stood at 5.566 million kW, primarily located in Inner Mongolia, Shaanxi-Gansu-Ningxia, and the Beijing-Tianjin-Hebei region[6] - Solar power installed capacity was 3.818 million kW, distributed across the northwest, north, and south China regions[6] - Gas-fired cogeneration plants in Beijing have a capacity of 4.702 million kW, accounting for over 40% of Beijing's gas-fired power generation and central heating supply[6] - Renewable energy development capacity reached 5.33 million kW in 2023, a 3-fold increase compared to the previous year, with 4.8 million kW from self-developed projects and 530,000 kW from acquisitions[12] - Total installed renewable energy capacity reached 9.78 million kW by the end of 2023, exceeding gas-fired power capacity by more than double[13] - Wind power generation increased by 15.9% YoY to 12.6 billion kWh, with utilization hours reaching 2,304 hours, 79 hours above the national average[13] - Solar power generation increased by 5.4% YoY to 5.29 billion kWh, with utilization hours reaching 1,387 hours, 101 hours above the national average[13] - Total electricity generation in 2023 reached 38.89 billion kWh, a 6.2% YoY increase, with renewable energy contributing 19.47 billion kWh, a 10.7% YoY increase[13] Operational Efficiency and Cost Management - Cost savings exceeded RMB 30 million through centralized procurement, and digital operations reduced repetitive workloads by 70% and increased per capita operation and maintenance capacity by 35%[14] - The company achieved carbon asset revenue of approximately RMB 30 million through carbon quota trading of 500,000 tons[14] - Digital transformation initiatives included 48 technology projects with an investment of RMB 720 million, resulting in 119 patents and awards[15] - The company aims to become a "smarter, more low-carbon, more flexible, and more resilient" international clean energy service provider in 2024[17] - The company aims to achieve a non-fossil energy installed capacity target of 12.5 GW in 2024, striving to exceed the total installed capacity development goal of 17.35 GW[18] - The company expects a profit impact of RMB 600-700 million in 2024 due to the adjustment of gas power plant electricity prices in Beijing[19] - The company plans to increase its profit target to exceed RMB 4.1 billion in 2024, despite the impact of gas power plant price adjustments[20] - The company will focus on digital transformation, aiming to build a digital operation platform integrating production, operation, and finance[21] Corporate Governance and Compliance - The company successfully entered the "Beijing State-owned Holding Listed Companies ESG Pioneer 30 Index" and received the highest rating of four and a half stars[8] - The company's registered share capital as of December 31, 2023, is RMB 8,244,508,144, divided into 8,244,508,144 shares with a par value of RMB 1.00 each, including 5,414,831,344 domestic legal person shares and 2,829,676,800 H-shares[82] - The company did not purchase, sell, or redeem any listed securities during the year ended December 31, 2023[83] - The company plans to expand its domestic market, focus on high-quality and high-return projects, and maximize shareholder value through self-development, acquisitions, and mergers[84] - The company will support its capital expenditures through various financing channels, including internal funds and bank loans, with sufficient bank credit lines currently available[84] - The company did not enter into any stock-linked agreements during the year ended December 31, 2023, and no such agreements were in effect at the end of 2023[85] - The company has appropriate liability insurance for its directors, supervisors, and senior management, with approved indemnity provisions in place[85] - The controlling shareholder did not pledge any shares in the company to guarantee the company's debts or other obligations during the year ended December 31, 2023[86] - The company did not provide any financial assistance or guarantees to its affiliates that required disclosure under the Listing Rules during the year ended December 31, 2023[88] - The company adopted an H-share stock appreciation rights plan on February 2, 2024, granting a total of 103,062,511 stock appreciation rights to 113激励对象[90] - The company is a leading wind and photovoltaic power operator in China and the largest gas power supplier in Beijing, engaging in diversified clean energy businesses including wind power, photovoltaic power, gas thermal power, small hydropower, and other clean energy projects[91] - The company's audited operating performance, financial position, and cash flow for the year ended December 31, 2023, are detailed in the consolidated income statement, consolidated statement of financial position, and consolidated cash flow statement, respectively[92] - The company maintains good relationships with suppliers and customers, implementing a comprehensive supplier evaluation system and ensuring product quality through manufacturing supervision[93] - The company's environmental policies and performance are discussed in the Environmental, Social, and Governance (ESG) report published on the Hong Kong Stock Exchange website[94] - The company emphasizes compliance with laws and regulations, allocating resources to ensure adherence and maintain good working relationships with regulatory authorities[95] - The company's dividend policy prioritizes maintaining sufficient cash reserves to meet operational needs, future growth, and shareholder value, with dividends to be paid in cash or other forms as approved by the board and shareholders[96] - The company proposes a final dividend of RMB 13.98 cents per share for the year ended December 31, 2023, totaling approximately RMB 1,152.6 million[97] - The final dividend for 2023 is expected to be paid on or around July 31, 2024, subject to approval at the Annual General Meeting[97] - Non-resident enterprise shareholders of H shares will have a 10% enterprise income tax withheld on the final dividend[97] - Individual H shareholders are exempt from Chinese personal income tax on dividends due to the company's status as a foreign-invested enterprise[97] - The company's distributable reserves as of December 31, 2023, were approximately RMB 11,996 million, up from RMB 10,903 million in 2022[100] - The company made external donations of approximately RMB 36 million during the reporting period, excluding employee personal donations[101] - H share transfer registration will be suspended from June 21 to June 26, 2024, for determining eligibility to attend and vote at the Annual General Meeting[99] - H share transfer registration will also be suspended from July 3 to July 8, 2024, for determining eligibility to receive the proposed final dividend[99] - The company's major shareholder, Jingneng Group, holds 5,190,483,053 domestic shares, representing 95.86% of the domestic share class and 62.96% of the total share capital[112] - Beijing State-owned Assets Management holds 5,414,831,344 domestic shares, accounting for 100% of the domestic share class and 65.68% of the total share capital[112] - Central Huijin Investment Ltd. holds 656,036,000 H-shares, representing 23.18% of the H-share class and 7.96% of the total share capital[112] - China Reinsurance (Group) Corporation holds 656,036,000 H-shares, accounting for 23.18% of the H-share class and 7.96% of the total share capital[112] - Beijing Energy Investment holds 471,612,800 H-shares, representing 16.67% of the H-share class and 5.72% of the total share capital[112] - Beijing Enterprises Holdings Limited holds 196,964,000 H-shares, accounting for 6.96% of the H-share class and 2.39% of the total share capital[112] - Beijing Enterprises Clean Energy Technology Investment Co., Ltd. holds 196,964,000 H-shares, representing 6.96% of the H-share class and 2.39% of the total share capital[112] - China Property & Casualty Reinsurance Co., Ltd. holds 196,704,000 H-shares, accounting for 6.95% of the H-share class and 2.39% of the total share capital[112] - Beijing Energy Group directly holds 5,174,447,731 domestic shares of the company, accounting for 68.68% of the total issued shares as of December 31, 2023[117] - The company's equipment maintenance framework agreement with Beijing Energy Group has an estimated annual cap of RMB 250 million, RMB 260 million, and RMB 270 million for the years 2023, 2024, and 2025, respectively[118] - The service framework agreement with Beijing Energy Group includes property management services with an estimated annual cap of RMB 85 million, RMB 90 million, and RMB 95 million for 2023, 2024, and 2025, respectively[119] - The actual transaction amount for equipment maintenance services under the framework agreement with Beijing Energy Group in 2023 was RMB 93.4 million, below the annual cap of RMB 250 million[116] - The actual transaction amount for property management services under the service framework agreement with Beijing Energy Group in 2023 was RMB 71.2 million, below the annual cap of RMB 85 million[116] - The actual transaction amount for administrative services under the service framework agreement with Beijing Energy Group in 2023 was RMB 67.3 million, below the annual cap of RMB 85 million[116] - The actual transaction amount for financial services (deposit services) with Beijing Energy Finance in 2023 was RMB 6,433.2 million, below the annual cap of RMB 8,000 million[116] - The actual transaction amount for financial services (other financial services) with Beijing Energy Finance in 2023 was RMB 0.4 million, below the annual cap of RMB 15 million[116] - The actual transaction amount for property leasing services with Beijing Energy Group in 2023 was RMB 52.1 million, below the annual cap of RMB 60.1 million[116] - The actual transaction amount for financial leasing services with Beijing Energy Leasing in 2023 was RMB 551.9 million, below the annual cap of RMB 3,000 million[116] - The new contract energy management framework agreement with Jingneng Group has an estimated annual cap of RMB 26.5 million for each of the three years ending December 31, 2025[120] - The new heat sales and procurement framework agreement with Jingneng Group has an estimated annual cap of RMB 2,351.8 million for each of the three years ending December 31, 2025[121] - The new materials procurement framework agreement with Jingneng Group has an estimated annual cap of RMB 160 million for each of the three years ending December 31, 2025, with no transactions occurring in 2023 due to changes in the company's procurement model[122] - The new financial leasing framework agreement with Beijing Jingneng Leasing has an estimated annual cap of RMB 1,000 million for each of the three years ending December 31, 2025[123] - The new financial services framework agreement with Jingneng Finance has estimated annual caps for deposit services of RMB 8,000 million, RMB 9,500 million, and RMB 11,000 million for the three years

交银国际研究 公司更新 新能源 收盘价 目标价 潜在涨幅 2024年4月1日 港元1.74 港元2.10↑ +20.7% 京能清洁能源 (579 HK) 今年风光装机进度有惊喜，8.7% 预期股息率为子行业中最高  因电站资产减值，2023年盈利略低于预期。京能2023年净利润同比上升 个股评级 7.4%至30.6亿元（人民币，下同），略低于我们预期5%，原因包括：1） 买入 水电板块因利用小时下跌，录得 0.13 亿元经营亏损（原预期盈利 1.3 亿 元）； 以及2）公司期内个别电站计提资产减值约3.6亿元。2022年公司 每股派息大幅提升70%后，2023年公司继续提升派息比率3个百分点至 1年股价表现 38%，每股派息0.14元（同比上升16%）。 579 HK 恒生指数 15%  装机进度优于预期，较高机率完成2024年目标。管理层预期2024年总装 10% 5% 机目标仍按股权激励方案12.5吉瓦进行，公司目前1.69吉瓦的风/光已在 0% -5% 试运营中，管理层表示这部份的装机将较大机会在今年2-3季度开始正式 -10% -15% 运营。同时另有1.58吉瓦的在建项目，目前的整体建设进度对投 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Beijing Jingneng Clean Energy Co., Limited 北京京能清潔能源電力股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00579） 截至2023年12月31日止年度之年度業績公告 | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 截至 2023 年 12 月 31 日止年度，本集團收入為人民幣 20,446.0 百萬元，比去年增加 | | | 2.08% 。 | | • | 截至 2023 年 12 月 31 日止年度，本公司權益持有人溢利為人民幣 3,057.6 百 ...