Financial Performance - The company's turnover for the six months ended June 30, 2023, was HK$51,483,669, representing an increase from HK$50,409,175 in the same period of 2022[10]. - Profit attributable to owners of the company for the first half of 2023 was HK$6,740,100, compared to HK$4,369,939 in the first half of 2022, indicating a significant growth[10]. - Turnover for 1H23 was reported at HK$82,716 million, a decrease of 4.4% compared to HK$86,538 million in 1H22[14]. - Profit attributable to owners of the company rose to HK$6,740 million in 1H23, marking an increase of 54.3% from HK$4,370 million in 1H22[15]. - Basic earnings per share attributable to owners of the company increased to HK$1.40 in 1H23, up from HK$0.91 in 1H22, reflecting a growth of 53.8%[15]. - The total comprehensive income for the period, net of tax, was HK$2,344,625, compared to a loss of HK$2,576,134 in the first half of 2022[55]. - The Group's profit before income tax was HK$8,692,178 thousand, with a profit attributable to owners of the Company of HK$5,884,090 thousand[81]. - The profit for the period was reported at HK$6,740,100, while other comprehensive income resulted in a loss of HK$4,553,846, leading to a total comprehensive income of HK$2,240,902 for the six months ended June 30, 2023[161]. Operational Capacity - As of June 30, 2023, CR Power's total attributable operational generation capacity was 54,986 MW, with renewable energy sources (wind, hydro-electric, and photovoltaic) accounting for approximately 34.5% of this capacity at 18,970 MW[5][10]. - The total operational generation capacity of the company as of June 30, 2023, was 70,793 MW[16]. - The attributable operational generation capacity in Central China was 16,019 MW, representing the largest share of the company's capacity distribution[10]. - The attributable operational generation capacity of wind power was 16,682 MW, with 5,504 MW under construction; photovoltaic power capacity was 2,009 MW, with 5,039 MW under construction; and hydro power capacity was 280 MW[34]. - The total effective interest for the Yangjiang Wind Phase II project is 45.5 MW, fully attributable to the company[22]. - The Group's operational generation capacity was 70,793 MW, with attributable operational capacity of 54,986 MW, of which thermal power accounted for 36,016 MW, representing 65.5%[35]. Renewable Energy Focus - CR Power is focusing on expanding its renewable energy portfolio, with significant investments in new projects across various provinces[18]. - The company has maintained its position in the Hang Seng ESG 50 Index for four consecutive years, highlighting its commitment to sustainable development[6]. - Renewable energy's share of total operational generation capacity reached 34.5% in 1H23, compared to 32.6% in 1H22, indicating a positive trend towards renewable sources[12]. - The Group's strategic focus on expanding its renewable energy portfolio aligns with global trends towards sustainable energy solutions[34]. - The company is expanding its photovoltaic capacity, with projects like Guangzhou Photovoltaic at 14.3 MW and Shenzhen Photovoltaic at 5.6 MW, both fully attributable[22]. Financial Position - CR Power's non-current assets as of June 30, 2023, totaled HK$248,202,376, an increase from HK$227,535,156 in 2022[10]. - The company's net debt to shareholders' equity ratio was 171.0% as of June 30, 2023, compared to 149.1% in 2022, indicating a rise in leverage[10]. - Total assets increased to HK$310,548,837, up from HK$283,387,646, representing a growth of 9.1%[59]. - Total liabilities increased to HK$209,250,186, compared to HK$182,834,098, indicating a rise of 14.4%[61]. - The Group's total borrowings as of June 30, 2023 amounted to HK$158,034 million, an increase from HK$138,319 million as of 31 December 2022[124]. Cash Flow and Investments - Cash capital expenditure for the first half of 2023 was approximately HK$18,758 million, with HK$12,599 million allocated to wind and photovoltaic power plant construction[40]. - The Group aims to add 7,000 MW of new wind and photovoltaic projects for grid connection in 2023, with many projects expected to connect in the second half of the year[43]. - Net cash inflows from operating activities for the six months ended June 30, 2023, were HK$8,425,849, up from HK$8,193,823, reflecting a growth of 2.8%[64]. - Net cash outflows from investing activities amounted to HK$18,605,838, compared to HK$12,891,182, showing an increase of 44.5%[64]. - Cash flows from financing activities showed net inflows of HK$19,386,312 for the six months ended June 30, 2023, compared to HK$6,598,203 in 2022, representing a substantial increase in financing activities[167]. Dividends and Shareholder Returns - The interim dividend declared is HK$0.328 per share for the six months ended 30 June 2023, an increase from HK$0.21 per share in 2022, totaling approximately HK$1,578 million[112][113]. - The final dividend for the year ended 31 December 2022 was HK$0.376 per share, approved by shareholders, resulting in a total payment of approximately HK$1,809 million in July 2023, compared to HK$216 million in 2022[112][113]. - The company paid dividends amounting to HK$1,808,727 to owners during the period, reflecting ongoing shareholder returns despite the comprehensive income fluctuations[161]. Market Recognition and Strategic Development - CR Power has been included in the Hang Seng Index since June 5, 2023, reflecting recognition of its strategic transformation and innovative development by capital markets[6]. - Future outlook remains positive with ongoing development in integrated energy services and renewable energy technologies[20]. - The Group's diversified energy portfolio positions it well to capitalize on the growing demand for clean energy solutions[34].

Financial Performance - The company reported a net profit attributable to shareholders of HKD 6.74 billion for the first half of 2023, an increase of HKD 2.37 billion or 54.2% compared to HKD 4.37 billion in the same period of 2022[1][2]. - For the six months ending June 30, 2023, the company reported revenue of HKD 51,483,669, an increase from HKD 50,409,175 in the same period of 2022, representing a growth of 2.13%[11]. - The operating profit for the same period was HKD 10,495,310, compared to HKD 7,410,556 in the previous year, indicating a significant increase of 41.5%[11]. - The net profit for the first half of 2023 was HKD 7,078,590, up from HKD 4,374,460 in the first half of 2022, reflecting a growth of 61.7%[12]. - The profit before tax for the first half of 2023 was HKD 8.69 billion, compared to HKD 5.24 billion in the first half of 2022, reflecting a significant improvement in operational performance[21]. - The company's profit attributable to owners for the first half of 2023 was approximately HKD 6.74 billion, an increase of 54.2% compared to HKD 4.37 billion in the same period of 2022[34]. Revenue and Sales - Power sales revenue reached HKD 47.17 billion, up from HKD 45.93 billion in the same period last year, driven by a 7.0% increase in sales volume from subsidiary power plants[19]. - The company achieved a total electricity sales volume of 92,501,982 MWh in the first half of 2023, a 7.0% increase from 86,413,534 MWh in the same period of 2022[4]. - The core profit contribution from renewable energy business was HKD 5.95 billion, up from HKD 5.28 billion in the first half of 2022, while the core profit from thermal power business improved to HKD 726 million from a loss of HKD 1.44 billion[1][2]. Costs and Expenses - Total operating costs decreased to HKD 42.98 billion, down HKD 2.28 billion or 5.0% from HKD 45.26 billion in the first half of 2022[23]. - Fuel costs decreased by 9.7% to HKD 27.80 billion, primarily due to a 7.9% drop in the average coal price[23]. - Employee benefits expenses increased by 26.7% to HKD 3.16 billion, influenced by new project launches and currency exchange rate effects[24]. - Financial expenses rose to HKD 2.10 billion, an increase of 8.2% from HKD 1.94 billion in the first half of 2022, mainly due to increased borrowing[28]. Capital Expenditure and Investments - Cash capital expenditure for the first half of 2023 was approximately HKD 18.76 billion, with HKD 12.60 billion allocated to wind and solar projects[6]. - Cash capital expenditure for 2023 is projected to be approximately HKD 45 billion, with around HKD 30.6 billion allocated for wind and solar power station construction[10]. - The company aims to add 7,000 MW of new wind and solar projects to the grid in 2023, with many projects expected to be connected in the second half of the year[9]. Debt and Liabilities - The net debt to equity ratio increased to 171.0% from 158.7% year-on-year[2]. - As of June 30, 2023, total liabilities increased to HKD 209,250,186 thousand from HKD 182,834,098 thousand as of December 31, 2022, representing a growth of approximately 14.4%[15]. - The company’s non-current liabilities, including borrowings, rose to HKD 121,317,672 thousand as of June 30, 2023, from HKD 99,951,023 thousand as of December 31, 2022, reflecting an increase of about 21.4%[15]. - The company’s current liabilities increased to HKD 87,932,514 thousand as of June 30, 2023, from HKD 82,670,777 thousand as of December 31, 2022, representing a growth of approximately 6.4%[15]. Cash Flow - The net cash inflow from operating activities for the six months ended June 30, 2023, was HKD 8,425,849 thousand, compared to HKD 8,193,823 thousand for the same period in 2022, reflecting an increase of about 2.8%[16]. - Cash outflow from investing activities for the six months ended June 30, 2023, was HKD 18,605,838 thousand, up from HKD 12,891,182 thousand in the prior year, indicating a rise of approximately 44.5%[16]. - Financing activities generated a net cash inflow of HKD 19,386,312 thousand for the six months ended June 30, 2023, compared to HKD 6,598,203 thousand in the same period of 2022, marking an increase of about 194.5%[17]. - The company reported a net increase in cash and cash equivalents of HKD 9,206,323 thousand for the six months ended June 30, 2023, compared to HKD 1,900,844 thousand in the previous year, which is an increase of approximately 384.5%[17]. Renewable Energy and Sustainability - The company aims to add 40 million kW of renewable energy capacity during the 14th Five-Year Plan period (2021-2025), targeting over 50% of total capacity by the end of 2025[8]. - The company is focusing on low-carbon technologies such as carbon capture, utilization, and storage (CCUS) to reduce carbon emissions and promote zero-carbon park pilot construction[9]. - The company has included carbon reduction and renewable energy development in the performance contracts of its executive team, with key performance indicators related to renewable energy capacity and carbon emission intensity[9]. - The company is actively exploring integrated energy services, targeting energy-saving and carbon reduction applications for enterprises and parks[9]. Shareholder Returns - The company declared an interim dividend of HKD 0.328 per share for the first half of 2023, up from HKD 0.21 per share in the same period of 2022[35]. - The basic earnings per share for the first half of 2023 was HKD 1.40, compared to HKD 0.91 in the same period of 2022[35]. Corporate Governance and Compliance - The company has complied with the corporate governance code, except for a temporary vacancy in the company secretary position from February 8, 2023, to April 23, 2023[46]. - The interim results for the six months ended June 30, 2023, were reviewed by the audit and risk committee and audited by Deloitte[48]. - The financial information for the six months ended June 30, 2023, is prepared in accordance with Hong Kong Accounting Standard 34 and will be published as soon as practicable[48]. - The company has submitted its financial statements for the year ended December 31, 2022, to the Companies Registry as required by the Companies Ordinance[49]. - The auditor's report on the financial statements for the year ended December 31, 2022, was unqualified and did not raise any issues[49]. - The board of directors includes three executive directors, two non-executive directors, and four independent non-executive directors as of the announcement date[49].

Financial Performance - The company's turnover for 2022 was HK$103,305,097,000, representing an increase from HK$90,414,166,000 in 2021, which is a growth of approximately 14.5%[9] - Profit attributable to owners of the company for 2022 was HK$7,042,478,000, significantly up from HK$2,137,849,000 in 2021, marking an increase of approximately 229%[9] - Basic earnings per share attributable to owners of the company rose to HK$1.46 in 2022 from HK$0.44 in 2021, reflecting a substantial increase of approximately 231.8%[9] - The company maintained a dividend per share of HK$0.586 for 2022, up from HK$0.295 in 2021, indicating a growth of approximately 98.3%[9] - The company reported a turnover of HK$103.31 billion for the full year, representing a year-on-year increase of 14.3%[28] - Profit attributable to owners of the company amounted to HK$7.04 billion, with basic earnings per share of HK$1.46[28] - Distributable reserves amounted to HK$27,561,957,000 as of December 31, 2022, an increase from HK$16,949,959,000 in 2021[118] Operational Capacity - As of December 31, 2022, CR Power's total attributable operational generation capacity was 52,581 MW, with renewable energy sources (wind, hydro-electric, and photovoltaic) accounting for 17,004 MW, or approximately 32.3% of the total capacity[3] - As of December 31, 2022, the total operational generation capacity of the company was 67,814 MW, with an attributable operational generation capacity of 52,581 MW[17] - The total net generation volume of the Group's consolidated power plants in 2022 was 184,604 GWh, representing a year-on-year increase of 4.1%[197] - The attributable operational generation capacity of newly commissioned thermal power projects in 2022 amounted to 3,021 MW[195] - The Group's attributable operational generation capacity of wind power was 15,512 MW, with 4,857 MW under construction as of the end of 2022[194] Renewable Energy Focus - The renewable energy attributable operational generation capacity is a key focus area, although specific figures were not provided in the documents[17] - The company is expanding its renewable energy portfolio across multiple provinces, focusing on wind and photovoltaic power plants[19][20] - The company added 3,252 MW of grid-connected installed capacity for renewable energy during the year[26] - The core profit contribution from the company's renewable energy business was HK$8.645 billion[28] - The company obtained a total of 16,790 MW of renewable energy construction permits in 2022, including 7,900 MW of base projects and over 1,500 MW of offshore wind farms, marking a record high[29][30] Sustainability and ESG Commitment - CR Power has been included in the Hang Seng ESG 50 Index and the Hang Seng Corporate Sustainability Benchmark Index for three consecutive years, highlighting its commitment to sustainable development[4] - The company is committed to enhancing its operational efficiency and sustainability practices in line with market trends[19][20] - The company is focused on advancing a new energy system centered on renewable energy, aiming to seize strategic opportunities during the 14th Five-Year Plan period[50] - The Group emphasizes environmental sustainability, committing to resource conservation and the development of clean and renewable energy projects[103] - The company's comprehensive energy consumption per RMB 10,000 output value decreased by 11.36% in 2022, reflecting its commitment to environmental protection[42] Management and Governance - The Board of Directors includes both executive and independent non-executive members, ensuring governance and oversight[130] - The Group's management team includes experienced professionals with backgrounds in legal affairs, investment, and human resources, enhancing its operational capabilities[92][93] - The leadership team's diverse backgrounds in various managerial roles contribute to a comprehensive understanding of the energy sector[83][84][87][88] - The Company has taken out insurance against liabilities and costs associated with defending any proceedings brought against its Directors[134] Market Expansion and Future Outlook - Future outlook includes potential market expansion and new technology development, although specific plans were not outlined in the documents[17] - The Group's future outlook includes a focus on expanding its clean energy initiatives in alignment with government strategies[103] - The company plans to focus on low-carbon energy transformation and aims to become a world-class clean energy supplier and integrated energy service provider[49] Financial Management and Transactions - Total borrowings as of December 31, 2022, were HK$131,705,574,000, compared to HK$128,495,939,000 in 2021[119] - The Group issued corporate bonds and notes with a face value of RMB3,000,000,000 (equivalent to HK$3,358,440,000) as of December 31, 2022[120] - The Company reported interest expense paid to related parties totaling HK$132,545,000[172] - The Independent Non-executive Directors confirmed that the continuing connected transactions were conducted in the ordinary course of business and on normal commercial terms[168] Risk Management - The Group's operational risks include policy, industry, market, business, and financial risks, as discussed in the Chairman's Statement and Management's Discussion and Analysis[99] - The Group has complied with all relevant laws and regulations that significantly impact its operations during the year ended December 31, 2022[106]

Financial Performance - The company's net profit for 2022 was HKD 7.04 billion, an increase of HKD 4.90 billion or 229.4% compared to HKD 2.14 billion in 2021[1]. - Basic earnings per share for 2022 rose to HKD 1.46, up 229.4% from HKD 0.44 in 2021[1]. - The total revenue for 2022 was HKD 103.31 billion, compared to HKD 90.41 billion in 2021, reflecting a growth of approximately 14.2%[2]. - The operating profit for 2022 was HKD 13,551,079, significantly up from HKD 6,029,140 in 2021, reflecting a year-over-year increase of 125.5%[10]. - The net profit attributable to shareholders for 2022 was HKD 7,042,478, compared to HKD 2,137,849 in 2021, marking a growth of 229.5%[10]. - The company reported a profit before tax of HKD 9,461,474 in 2022, a substantial increase from HKD 2,391,416 in 2021, representing an increase of approximately 295%[14]. - The total comprehensive income attributable to the company’s owners for 2022 was HKD 193.93 million, down from HKD 562.21 million in 2021[22]. - The company reported a core business loss attributable to shareholders of HKD 6.06 billion in 2022, compared to a loss of HKD 2.98 billion in 2021[28]. Revenue and Sales - The electricity sales revenue reached HKD 95.29 billion in 2022, up from HKD 83.46 billion in 2021, reflecting a growth of 14.2%[26]. - The company achieved a total electricity sales volume of 184,604 GWh in 2022, a 4.1% increase from 2021[5]. - The average on-grid electricity price for subsidiary coal-fired power plants increased by 20.2% year-on-year[26]. Assets and Liabilities - The company’s total assets as of December 31, 2022, were HKD 283.39 billion, with net debt to equity ratio at 158.7%[3]. - Total equity decreased to HKD 100,553,548 in 2022 from HKD 107,662,881 in 2021, representing a decline of approximately 6.5%[13]. - The total liabilities rose to HKD 182,834,098 in 2022, up from HKD 180,304,471 in 2021, indicating a slight increase of about 1.4%[13]. - The net debt to equity ratio rose from 142.3% in 2021 to 158.7% in 2022, indicating a significant increase in leverage[51]. Capital Expenditure and Investments - The cash capital expenditure for 2022 was approximately HKD 35.11 billion, with significant investments in wind and solar projects[6]. - The company plans to invest approximately HKD 45 billion in capital expenditures for 2023, with HKD 30.6 billion allocated for wind and solar power projects[9]. - The company plans to add 40,000 MW of renewable energy capacity during the 14th Five-Year Plan period, aiming for over 50% of total capacity by the end of 2025[7]. Operational Efficiency - The total operating costs for 2022 were HKD 93.92 billion, up by HKD 6.81 billion or 7.8% from HKD 87.11 billion in 2021[29]. - Fuel costs rose to HKD 64.28 billion in 2022, an increase of 10.0% from HKD 58.44 billion in 2021, primarily due to a 10.6% rise in coal prices[29]. - The average unit fuel cost for coal-fired power plants was RMB 339.1 per MWh, up 10.9% from 2021[6]. Carbon Reduction and Renewable Energy - The company is actively pursuing carbon reduction initiatives, including the development of renewable energy and carbon capture technologies[8]. - The company aims to achieve a renewable energy installed capacity ratio and a reduction in power supply carbon emission intensity as key performance indicators for management[8]. - The installed capacity of the company at the end of 2022 was 67,814 MW, with renewable energy accounting for 32.3% of the total[4]. Workforce and Corporate Governance - As of December 31, 2022, the company employed 22,340 staff, an increase from 21,252 in 2021, indicating a growth in workforce[55]. - The company has included carbon reduction and renewable energy development in the performance contracts of its executive team, linking these to their performance evaluations[8]. - The auditor's report for the fiscal year ending December 31, 2022, was unqualified, indicating no significant issues with the financial statements[58]. Miscellaneous - The proposed final dividend for 2022 is HKD 0.376 per share, compared to HKD 0.045 per share in 2021[41]. - The group reported a net current liability of HKD 34.04 billion as of December 31, 2022, indicating sufficient operational funds to meet financial obligations for at least the next twelve months[44]. - The company completed the acquisition of 100% equity in Guangdong Runeng New Energy Co., Ltd. for approximately RMB 1.44 billion, enhancing its renewable energy scale with 440.3MW wind power projects primarily located in resource-rich regions[55].

Financial Performance - For the six months ended June 30, 2022, the earnings per share decreased to HK$ 90.84 from HK$ 117.15 in 2021, representing a decline of approximately 22.5%[9]. - The turnover for the same period increased to HK$ 50,409,175,000, up from HK$ 42,799,952,000 in 2021, reflecting a growth of about 17.5%[9]. - Profit attributable to owners of the Company was HK$ 4,369,939,000, down from HK$ 5,635,468,000 in 2021, indicating a decrease of approximately 22.5%[9]. - Operating profit decreased to HK$ 7,410,556, down 7.1% from HK$ 7,979,180 in the previous year[63]. - Total comprehensive loss for the period was HK$ 2,576,134, compared to a comprehensive income of HK$ 7,363,727 in the same period last year[64]. - The Group's net profit for the first half of 2022 was approximately HK$ 4,370 million, representing a decrease of 22.5% compared to HK$ 5,635 million in the first half of 2021[122][123]. Operational Capacity - As of June 30, 2022, the total attributable operational generation capacity was 50,018 MW, an increase from 47,063 MW in 2021, representing a growth of approximately 6.3%[10]. - The total operational generation capacity of the company was 64,610 MW as of June 30, 2022, with an attributable operational generation capacity of 50,018 MW[16]. - The total gross generation volume of operating power plants was 112,470,302 MWh, slightly down from 114,442,088 MWh in 2021, a decrease of about 1.7%[9]. - The attributable operational generation capacity from wind, hydro-electric, and photovoltaic power combined was 16,302 MW, accounting for approximately 32.6% of the total capacity[3]. Renewable Energy Focus - The company has been included in the Hang Seng ESG 50 Index for three consecutive years, demonstrating its commitment to sustainable development[4]. - Attributable operational generation capacity of renewable energy increased from 7,024 MW in 1H18 to 16,302 MW in 1H22, reflecting a growth of approximately 132%[11]. - The renewable energy attributable operational generation capacity mix increased from 19.0% in 1H18 to 32.6% in 1H22, indicating a significant shift towards renewable sources[14]. - The core profit contribution from the renewable energy business amounted to HK$ 5.28 billion, reflecting a year-on-year growth of 5.8%[24]. Financial Position - Non-current assets increased to HK$ 227,535,156,000 from HK$ 221,417,796,000 in 2021, reflecting a growth of about 2.5%[10]. - The net debt to shareholders' equity ratio was 149.1% as of June 30, 2022, compared to 120.5% in 2021, indicating an increase in leverage[10]. - As of June 30, 2022, the Group's total assets were approximately HK$ 282.87 billion, with operational generation capacity of 64,610 MW and attributable operational generation capacity of 50,018 MW[24]. - Total equity attributable to owners of the Company was HK$ 86,538,290, a decrease from HK$ 88,991,769 at the end of 2021[66]. Cash Flow and Investments - Net cash flows generated from operating activities increased to HK$ 8,193,823, up from HK$ 4,782,248, representing a growth of 71.5%[67]. - Cash capital expenditure in the first half of 2022 was approximately HK$ 13.25 billion, with HK$ 9.47 billion allocated for wind and photovoltaic power plants[51]. - The Group's cash and cash equivalents at the end of the period were HK$ 9,479,901, compared to HK$ 4,326,081 at the end of the previous period, reflecting a substantial increase of 119.5%[68]. - The Group's repayment of bank and other borrowings was HK$ 16,707,290, up from HK$ 14,317,136, indicating an increase of 16.7%[68]. Market Strategy and Future Outlook - The strategic focus remains on clean energy supply and integrated energy services, aligning with carbon peak and carbon neutrality goals[22]. - Future outlook indicates a commitment to further market expansion and potential acquisitions to enhance operational capabilities[17]. - The Group aims to increase its installed capacity of renewable energy by 40 GW during the 14th Five Year Plan period (2021-2025)[52]. - The company is actively pursuing new technology developments in energy efficiency and sustainability to align with market trends[17]. Accounting Policies and Changes - The Group's financial statements for the six months ended June 30, 2022, have been prepared on a historical cost basis, except for certain financial instruments measured at fair value[175]. - The Group has applied amendments to HKFRSs for the first time, effective from January 1, 2022, with no material impact on financial positions and performance[173]. - The application of the amendments to HKAS 16 resulted in a net increase in profit for the period of HK$ 146,493,000 for the six months ended June 30, 2022[192]. - The changes in accounting policy also affected the condensed consolidated statement of cash flows, although specific details were not provided in the extracted content[200].

Operational Capacity and Generation - Total attributable operational generation capacity reached 47,997 MW, with renewable energy (wind, hydro, and photovoltaic) accounting for 15,441 MW, or 32.2% of the total capacity[4][7] - The company operates 37 coal-fired power plants, 141 wind farms, 31 photovoltaic power plants, 2 hydro-electric power plants, and 4 gas-fired power plants[4][7] - Renewable energy operational capacity increased to 15,441 MW in 2021, up from 11,238 MW in 2020[11] - Total operational generation capacity of the company was 60,465 MW as of December 31, 2021[14] - Attributable operational generation capacity was 47,997 MW as of December 31, 2021[14] - Renewable energy attributable operational generation capacity was 15,441 MW[15] - The company added 2,535 MW of attributable grid-connected installed capacity for renewable energy in 2021[25] - Operational generation capacity for renewable energy stood at 15,441 MW, with attributable operational generation capacity for renewable energy accounting for 32.2%, an increase of 6.3 percentage points over the previous year[25] - The company's attributable operational generation capacity for wind power was 14,337MW, with 1,402MW under construction, and photovoltaic power generation capacity was 824MW, with 1,417MW under construction[195] - The company added 2,535MW of new attributable grid-connected generation capacity for wind and photovoltaic power during the year[195] - The company's total net generation volume for 2021 was 177,300GWh, a 14.4% increase from 2020, with wind and photovoltaic power generation increasing by 57.8% and 63.2%, respectively, and thermal power generation increasing by 7.5%[200] Financial Performance - Revenue for 2021 was HK$89.8 billion, a significant increase from HK$69.55 billion in 2020[11] - Profit attributable to owners of the company in 2021 was HK$1.59 billion, a sharp decline from HK$7.58 billion in 2020[11] - Total assets grew to HK$287.36 billion in 2021, compared to HK$259.63 billion in 2020[11] - Cash and cash equivalents stood at HK$7.93 billion at the end of 2021, up from HK$5.04 billion in 2020[11] - Dividend per share for 2021 was HK$0.295, down from HK$0.631 in 2020[11] - Turnover for the year was HK$89.80 billion, representing a year-on-year increase of 29.1%[26] - Profit attributable to owners of the company amounted to HK$1.593 billion, with earnings per share of HK$0.33[26] - Core profit contribution from the company's renewable energy business was HK$8,381 million, a year-on-year growth of 85.37%[26] - Total assets of the company reached HK$287.4 billion as of the end of 2021[25] - Distributable reserves of the Company amounted to HK$16,949,959,000 as at 31 December 2021, a decrease from HK$18,952,516,000 in 2020[125] - Total borrowings of the Group increased to HK$128,495,939,000 as at 31 December 2021, up from HK$102,267,275,000 in 2020[126] - The Group issued corporate bonds and notes with a face value of RMB7,800,000,000 (equivalent to HK$9,540,102,000) as at 31 December 2021, down from RMB11,800,000,000 (equivalent to HK$14,020,288,000) in 2020[127] Renewable Energy Development - The company obtained construction permits for 12,310 MW of renewable energy throughout the year[31] - The company plans to add 40,000 MW of installed capacity for renewable energy during the 14th Five-year Plan period, aiming for renewable energy to account for over 50% of total attributable installed capacity by the end of 2025[30] - The company commenced construction of its first offshore wind power project, the China Resources Cangnan 1 offshore wind power project, which is also the first Chinese offshore wind power project with a parity tariff under construction[32] - The company aims to add 40,000 MW of renewable energy capacity during the "14th Five-Year Plan" period, with renewable energy equity capacity exceeding 50% by the end of 2025[34] - In 2021, the company obtained new energy construction indicators totaling 12,310 MW[34] - The company obtained approvals or filed for 1,800MW of wind power projects and 35,000MW of photovoltaic power projects, totaling 36,800MW[196] Environmental and Sustainability Initiatives - The company has been included in the Hang Seng ESG 50 Index and Hang Seng Corporate Sustainability Benchmark Index for two consecutive years[5][6] - The company invested RMB 1,096 million in upgrading fully enclosed coal yards, integrated sewage treatment, and hazardous waste disposal for coal-fired power units[45] - The company completed the first day of trading in the national carbon trading market in July 2021 and successfully fulfilled the first carbon contract cycle by the end of 2021[38] - The company participated in the first green power trading in September 2021 and completed the first voluntary inter-provincial green power trade in November 2021[38] - The company ranked No. 1 in the "Central State-owned Enterprises ESG • Pioneer 50" index among 440 centrally owned listed holding companies[43] - The company established the China Resources Carbon Neutrality Institute to research the detailed implementation timetable and roadmap for carbon peak and carbon neutrality[44] - The Group adheres to environmental sustainability, focusing on resource conservation, clean and renewable energy projects, and emission control[104] Corporate Governance and Leadership - Ms. Wang Xiaobin is a member of the Australian Certified Practising Accountants Association and holds a Graduate Diploma in Applied Finance and Investment from the Australian Securities Institute and a Bachelor of Commerce degree from Murdoch University[69] - Mr. Liu Guixin, aged 58, was appointed as a Non-executive Director in September 2021 and has over 30 years of experience in the building materials and cement industry[70] - Mr. Chen Guoyong, aged 60, was appointed as a Non-executive Director in September 2021 and has extensive experience in the gas industry, serving as Vice President of CR Gas since March 2012[71] - Ms. Elsie Leung Oi-sie, aged 83, was appointed as an Independent Non-executive Director in April 2010 and has a distinguished career in law and public service, including serving as the first Secretary for Justice of the Hong Kong Special Administrative Region[72][73][74][75] - Dr. Raymond Ch'ien Kuo Fung, aged 70, was appointed as an Independent Non-executive Director in April 2010 and has served on the boards of several major corporations, including Swiss Re Limited and Hang Seng Bank Limited[76] - Dr. Ch'ien was appointed as an Independent Non-executive Director of the company in April 2010 and served until April 13, 2022[79] - Dr. Ch'ien holds a Doctoral Degree in Economics from the University of Pennsylvania and served as a Trustee from 2006 to 2016[78] - Mr. Jack So Chak Kwong was appointed as an Independent Non-executive Director of the company in June 2014 and assumed the chairmanship of the Airport Authority Hong Kong in June 2015[80] - Mr. Jack So Chak Kwong served as the chairman of the Hong Kong Trade Development Council from 2007 to 2015 and as the chairman and CEO of MTR Corporation Limited from 1995 to 2003[80] - Mr. Yang Yuchuan was appointed as an Independent Non-executive Director in September 2021 and is the CEO and Chief Macro Economist of Prime China Securities Limited[85] - Mr. Yang Yuchuan holds a Bachelor's Degree from Shanghai Jiao Tong University and an MBA from the University of San Francisco[85] - Mr. Shi Baofeng was appointed as President and Director on 30 September 2021[134] - Mr. Tang Yong resigned as President on 30 September 2021[134] - Mr. Yang Yuchuan was appointed as an Independent Non-executive Director on 15 September 2021[134] - Mr. Andrew Ma Chiu-Cheung resigned as an Independent Non-executive Director on 15 September 2021[134] - The Group regards the President, Senior Vice Presidents, Vice Presidents, and Assistant Presidents as members of the senior management team[145] Risk Management and Compliance - The company established an Internal Control and Risk Management Committee to conduct regular risk assessments and supervision[57] - The company conducted ongoing supervisory actions, including review of rules and regulations, examination of connected transactions, and ecological and environmental compliance[57] - The company emphasized the importance of compliance, business ethics, and risk management, conducting regular trainings in these areas[57] - The company formulated a detailed annual implementation plan under the three-year reform initiative, focusing on strategy formulation, policymaking, and risk prevention[56] - Principal risks and uncertainties facing the Group include operational risks, policy risks, industry risks, market risks, business risks, and financial risks[97] - The Group has complied with relevant laws and regulations, including the Hong Kong Companies Ordinance and the Listing Rules, during the year ended December 31, 2021[108] - The company complied with the disclosure requirements for continuing connected transactions under Chapter 14A of the Listing Rules for the year ended 31 December 2021[181] Social Responsibility and Community Engagement - The company's vaccination rate for eligible employees reached 99.92% by the end of 2021[50] - The company donated approximately RMB 15.43 million in cash and in-kind for anti-epidemic, poverty aid, elderly care, environmental protection, and community development initiatives in 2021[51] - Charitable donations made by the Group during the year amounted to approximately RMB155 million, a decrease from RMB175 million in 2020[128] - The Group values employees as important assets, focusing on career development and work-life balance through training and a supportive work environment[112] - The Group maintains stable long-term relationships with customers and suppliers, emphasizing good cooperative relationships and communication[113] Strategic Partnerships and Agreements - The company entered into a strategic cooperation agreement with CR Bank, with a maximum daily deposit cap of RMB 2 billion and a maximum daily cap of financial services of RMB 1 billion[170][171] - Actual maximum daily deposit amount for 2021 was approximately RMB 1,824.69 million, with commercial loans provided amounting to RMB 23 million[170][171] - The strategic cooperation agreement with CR Bank was renewed on 14 December 2021, effective from 1 January 2022[170][171] - The company's auditor issued an unqualified letter regarding the continuing connected transactions, confirming compliance with Hong Kong Listing Rules[173] Shareholding and Equity - Zhang Junzheng holds 700,000 ordinary shares of the company, representing 0.015% of the issued shares[151] - Wang Xiao Bin holds 3,664,560 ordinary shares of the company, representing 0.076% of the issued shares[151] - CRH (Power) Limited holds 3,027,003,337 ordinary shares of the company, representing 62.93% of the issued shares[162] - CRH holds 3,027,905,337 ordinary shares of the company, representing 62.94% of the issued shares[162] - CRC Bluesky Limited holds 3,027,905,337 ordinary shares of the company, representing 62.94% of the issued shares[162] - CRC holds 3,027,905,337 ordinary shares of the company, representing 62.94% of the issued shares[162] - CRCL holds 3,027,905,337 ordinary shares of the company, representing 62.94% of the issued shares[162] - Wang Chuandong holds 800,000 ordinary shares of CR Gas, representing 0.035% of the issued shares[152] - Shi Baofeng holds 950,000 ordinary shares of CR Pharmaceutical, representing 0.015% of the issued shares[153] Operational and Financial Details - The company's top five suppliers accounted for 26.11% of total procurement, with the largest supplier, China Coal Energy Nanjing Co., Ltd., accounting for 7.82%[188] - The company's top five customers accounted for 46.79% of total sales, with the largest customer, State Grid Jiangsu Electric Power Co., Ltd., accounting for 14.38%[188] - Significant transactions with related parties during the year included interest expense paid to CRH of HK$51,377 thousand and software maintenance expense paid of HK$20,865 thousand[177] - The company's joint ventures reported sales of coal amounting to HK$1,375 thousand and sales of heat amounting to HK$112,055 thousand[179] - The company's associates reported sales of coal amounting to HK$3,009,567 thousand and sales of electricity amounting to HK$122,338 thousand[178] - The company's subsidiaries provided retail power agency services amounting to HK$22,725 thousand and maintenance services amounting to HK$716 thousand[177] - The company's subsidiaries reported rental expenses of HK$94,135 thousand and renovation fees of HK$56,662 thousand[178] - The company's joint ventures reported maintenance expenses of HK$116,438 thousand and management fee income of HK$69,046 thousand[179] - The company's non-controlling shareholders reported interest income of HK$567 thousand[179] Future Outlook and Strategic Goals - The company is optimistic about the future prospects of renewable energy, driven by increasing demand for energy consumption and global commitments to carbon emission reduction[59] - The company aims to become a world-class clean energy supplier and provider of integrated energy services, focusing on improving installed capacity, asset mix, technology innovation, and operational management[60] - The company expects wind power and photovoltaic energy conversion efficiency to increase and equipment costs to decrease, providing profit returns[59] - The company is committed to maintaining its competitive edge by aligning with government policies and market developments in the renewable energy sector[60] - The company is focused on delivering growing value for shareholders through continuous improvement in various operational aspects[60]

Financial Performance - For the six months ended June 30, 2021, CR Power reported a turnover of HK$42,239,124, a significant increase from HK$31,184,879 in the same period of 2020, representing a growth of approximately 35.5%[10]. - Basic earnings per share for the first half of 2021 were HK 106.13 cents, up from HK 94.15 cents in the first half of 2020, reflecting an increase of about 12.9%[10]. - Profit attributable to owners of the Company for the six months ended June 30, 2021, was HK$5,105,487, compared to HK$4,528,857 in the same period of 2020, marking an increase of approximately 12.7%[10]. - Total gross generation from operating power plants for the first half of 2021 was 114,442,088 MWh, up from 93,295,071 MWh in the first half of 2020, indicating a growth of around 22.6%[10]. - The company reported an equity attributable to owners of the company of HK$90,530 million in 1H21, compared to HK$73,458 million in 1H20, marking a growth of 23.3%[15]. - The total comprehensive income for the period, net of tax, was HK$6,824,884 for the six months ended June 30, 2021, compared to HK$2,380,143 in 2020, indicating a significant increase[78]. - The Group's profit before income tax for the first half of 2021 was HK$6,055 million, with a profit attributable to owners of the Company of HK$5,261 million[102]. - The Group's core business profit attributable to owners of the Company was HK$5,277 million for the first half of 2021[102]. Renewable Energy Development - As of June 30, 2021, CR Power's total attributable operational generation capacity was 47,063 MW, with renewable energy sources (wind, hydro, and photovoltaic) accounting for 14,936 MW, or approximately 31.7% of the total capacity[4][10]. - The company is focusing on expanding its market presence in renewable energy sectors, including wind, hydroelectric, and photovoltaic power[20]. - The company aims to achieve carbon peak and carbon neutrality through an innovative green transition plan, aligning with national sustainability goals[4]. - The company is actively pursuing opportunities for mergers and acquisitions to strengthen its market position and diversify its energy portfolio[20]. - The Group aims to increase its installed capacity of renewable energy by 40 GW over the next five years, targeting over 50% of total capacity from renewable sources by the end of 2025[64]. - The renewable energy segment's external sales revenue was HK$10,184,753 for the first half of 2021, compared to HK$6,429,988 in the same period of 2020, reflecting a growth of approximately 58.5%[198]. Financial Position and Debt Management - The net debt to shareholders' equity ratio improved to 120.5% as of June 30, 2021, down from 136.1% in 2020, indicating a strengthening of the Company's financial position[11]. - The Group's total borrowings as of June 30, 2021 amounted to HK$113.44 billion, an increase from HK$108.22 billion as of December 31, 2020[132]. - The Group's cash flow from financing activities included proceeds from bank borrowings of HK$22,789,053 and repayments of HK$30,335,639[84]. - The Group's capital structure management aims to optimize debt and equity structures while maximizing shareholder returns[128]. - The Group's cash and cash equivalents at the end of the period were HK$4,326,081, compared to HK$4,164,948 at the end of the previous period[174]. Operational Efficiency and Cost Management - Total operating expenses for the first half of 2021 amounted to HK$36,104 million, representing an increase of HK$11,027 million or 44.0% from HK$25,077 million in the first half of 2020[104]. - Fuel costs increased by HK$8,686 million or 63.0% from HK$13,782 million in the first half of 2020 to HK$22,468 million in the first half of 2021, primarily due to a 29.8% year-on-year increase in the average unit cost of standard coal[105]. - Depreciation and amortisation rose by HK$1,413 million or 25.3% from HK$5,592 million in the first half of 2020 to HK$7,005 million in the first half of 2021, mainly due to the commissioning of numerous wind power projects[106]. - Employee benefit expenses increased by HK$239 million or 8.6% from HK$2,784 million in the first half of 2020 to HK$3,023 million in the first half of 2021, driven by new wind power projects and the appreciation of RMB against HKD[106]. Sustainability and Corporate Responsibility - CR Power has been included in the Hang Seng ESG 50 Index and the Hang Seng Corporate Sustainability Benchmark Index for two consecutive years, reflecting its commitment to sustainable development[5]. - The Company has published sustainability reports for 11 consecutive years, continuously reviewing its performance and striving to improve its sustainable development practices[5]. - The company contributed approximately RMB 7.59 million to social welfare activities, including education and poverty relief, in the first half of the year[45]. - The company is committed to achieving carbon peak and carbon neutrality goals while exploring carbon capture, utilization, and storage technologies[50]. Future Outlook - Future outlook remains positive with projected growth in both turnover and profit margins as the company expands its service areas and operational capacity[20]. - The company plans to continue investing in new technologies and product development to maintain competitive advantage in the energy market[20]. - The Group's carbon emissions are projected to peak in 2025, with strategies including the development of renewable energy and the implementation of carbon capture technologies[67].

Operational Capacity and Generation - As of December 31, 2020, CR Power's total attributable operational generation capacity was 43,365 MW, with renewable energy sources (wind, hydro, and photovoltaic) accounting for approximately 25.9% of this capacity[2]. - The company's attributable generation capacity from grid-connected wind, hydro, and photovoltaic projects amounted to 11,238 MW, representing about 31.1% of its total operational generation capacity[2]. - The company's operational generation capacity distribution includes 29.1% in Eastern China, 27.6% in Central China, 17.2% in Southern China, 15.2% in Northern China, 5.3% in Northeastern China, 3.4% in Southwestern China, and 2.1% in Northwestern China[2]. - CR Power operates 37 coal-fired power plants, 119 wind farms, 25 photovoltaic power plants, 2 hydro-electric power plants, and 3 gas-fired power plants[2]. - The company's renewable energy projects are concentrated in affluent regions or areas with abundant coal resources in China[2]. - The total attributable operational generation capacity was 43,365 MW as of December 31, 2020, an increase from 40,392 MW in 2019, marking a growth of 4.9%[24]. - Renewable energy attributable operational generation capacity reached 11,238 MW in 2020, up from 9,420 MW in 2019, showing a significant increase of 19.3%[24]. - In 2020, the attributable installed capacity of new grid-connected wind power reached a record high of 4,168 MW, while photovoltaic power reached 279 MW, totaling 4,447 MW[172]. - The Group actively expanded onshore and offshore wind power projects, with several projects commencing preliminary works[173][174]. Financial Performance - Basic earnings per share attributable to owners of the Company increased to HK$1.58 in 2020 from HK$1.37 in 2019, representing a growth of 15.4%[14]. - Turnover for the Company reached HK$69,550,811,000 in 2020, up from HK$67,757,632,000 in 2019, indicating a year-on-year increase of 2.6%[14]. - Profit attributable to owners of the Company rose to HK$7,582,668,000 in 2020, compared to HK$6,590,345,000 in 2019, reflecting a growth of 15.0%[14]. - The company's turnover for 2020 was HK$69.55 billion, representing a year-on-year increase of 2.6%[36]. - Profit attributable to owners of the company was HK$7.58 billion, reflecting a year-on-year increase of 15.1%[36]. - Core profit attributable to shareholders amounted to HK$9.755 billion, representing an increase of 9.8% compared to 2019[37]. - The net profit contribution from renewable energy business amounted to HK$4.193 billion, a significant increase of 43.7% from HK$2.917 billion in 2019, accounting for approximately 50.1% of total profit[36]. - The annual heat sales increased by 10.52% year-on-year to 111 million GJ, with turnover from heat supply operations amounting to HK$5.626 billion, representing a 9.4% increase from the previous year[41]. Sustainability and Corporate Governance - CR Power was selected for the first time as a constituent of the Hang Seng ESG 50 Index and the Hang Seng Corporate Sustainability Benchmark Index, effective September 7, 2020[4]. - The inclusion in the Hang Seng ESG 50 Index reflects CR Power's commitment to sustainable development and its performance in environmental, social, and governance aspects[9]. - CR Power has published sustainability reports for 11 consecutive years, continuously reviewing its performance to enhance sustainable development practices[9]. - The company's strategy integrates environmental, social, and governance responsibilities into its operations, aiming to create long-term value[9]. - The company is researching pathways and timelines for achieving peak carbon dioxide emissions and carbon neutrality in line with the United Nations Sustainable Development Goals[31]. - The Group emphasizes compliance with legal and regulatory requirements, having complied in all material respects with relevant laws and regulations during the year ended 31 December 2020[84]. - The Group's environmental policies focus on sustainability, resource conservation, and the development of clean and renewable energy projects[83]. Investments and Future Growth - The company aims to increase its renewable energy installed capacity by 40 GW during the "14th Five-Year Plan" period, targeting over 50% of total installed capacity by the end of 2025[53]. - Future growth is anticipated through the development of new technologies and market expansion initiatives[25]. - The company plans to enhance its clean energy capacity and improve operational efficiency through technological innovation and new business models[56]. - The Group aims to increase its installed capacity of renewable energy by 40 million kW over the next five years, targeting over 50% renewable energy capacity by the end of 2025[192]. - The Group expects to commission 515 MW of coal-fired and gas-fired power generation units in 2021, including a 660 MW ultra-supercritical unit[198]. Leadership and Management - Mr. Tang Yong was appointed as Executive Director and President in December 2019, bringing extensive experience from China Resources Land Limited[61]. - The company emphasizes its commitment to corporate governance and strategic management through its experienced leadership team[61][62][64][65]. - The leadership team collectively holds advanced degrees, including MBAs from prestigious institutions, enhancing their strategic decision-making capabilities[63][64][65]. - The management team has a strong background in finance, strategy, and corporate governance, which supports the company's growth initiatives[62][64][65]. Charitable Contributions and Community Engagement - The company donated a total of RMB20 million to Haiyuan County, Ningxia for the construction of public welfare forests, contributing to ecological improvement[48]. - During the "13th Five-Year Plan" period, the company contributed over RMB200 million in poverty alleviation funds, benefiting more than 18,000 families[47]. - In 2020, the company donated approximately RMB 175 million to various social causes, including poverty alleviation and education[51]. - The company has created over 2,000 jobs in local communities through its poverty alleviation initiatives[50]. Related Party Transactions - Significant related party transactions included interest expenses paid to CRH amounting to HKD 145.56 million and direct power supply transactions totaling HKD 144,000[154]. - The company confirmed that all continuing connected transactions were fair and reasonable for the shareholders as a whole[149]. - The Group's total rent paid to CRH and its associates for leasing office space for the year ended December 31, 2020, was RMB80.49 million (approximately HK$90.15 million)[143].

Operational Capacity and Generation - As of June 30, 2020, CR Power operated 36 coal-fired power plants, 104 wind farms, 23 photovoltaic power plants, 2 hydro-electric plants, and 3 gas-fired power plants, with a total controlled generation capacity of 50,022 MW[4]. - The total attributable operational generation capacity was 41,630 MW, with 29.7% located in Eastern China, 27.9% in Central China, 17.3% in Southern China, 15.0% in Northern China, 4.7% in Northeastern China, 3.5% in Southwestern China, and 2.0% in Northwestern China[4]. - The combined attributable operational generation capacity of wind, hydro-electric, and photovoltaic power was 10,148 MW, accounting for approximately 24.4% of the total attributable operational generation capacity[4]. - The attributable operational generation capacity increased to 41,630 MW, up from 38,005 MW in the same period of 2019[20]. - The Company had a total controlled generation capacity of 50,022 MW as of June 30, 2020[21]. - The total installed capacity across various power plants is 20,000.0 MW, with an effective equity interest of 100% in several projects[22]. - Jiangsu province has a total attributable installed capacity of 6,000.0 MW, with significant contributions from Changshu and Nanjing Thermal plants[22]. - Henan province's total attributable installed capacity is 4,000.0 MW, with notable projects including Dengfeng and Jiaozuo Longyuan[22]. - Guangdong province has a total attributable installed capacity of 5,000.0 MW, with major contributions from Haifeng and Liyujiang projects[22]. - Hubei province's total attributable installed capacity is 2,600.0 MW, including the Hubei Phase II project with 2,000.0 MW[22]. - The company maintains a 100% effective equity interest in multiple photovoltaic projects across various provinces, contributing to renewable energy capacity[22]. - The company is expanding its wind energy portfolio, with several projects in Henan and Guangdong provinces showing strong capacity figures[22]. - The effective equity interest in Nantong Wind and Yancheng Wind projects is 100%, contributing 65.5 MW and 44.0 MW respectively[22]. - The effective equity interest in the wind power plants in Liaoning province is 100%, contributing a total of 1,200 MW installed capacity[23]. - The company operates power plants across multiple provinces, including Hebei, Shandong, and Guangxi, with significant contributions from wind and photovoltaic energy sources[23]. Financial Performance - For the six months ended June 30, 2020, the turnover was HK$31,184,879, a decrease of 5.3% from HK$32,916,036 in the same period of 2019[16]. - Profit attributable to owners of the Company for the same period was HK$4,528,857, representing an increase of 12.7% compared to HK$4,017,785 in 2019[16]. - Basic earnings per share increased to 94.15 HK cents, up from 83.52 HK cents in the first half of 2019, marking an increase of 12.8%[16]. - Total gross generation volume for operating power plants was 93,295,071 MWh, while total net generation was 88,043,101 MWh[16]. - As of June 30, 2020, total assets amounted to HK$224,218,411, an increase from HK$215,409,912 in 2019[16]. - The equity attributable to owners of the Company was HK$73,458,001, slightly up from HK$72,964,850 in 2019[16]. - The net debt to shareholders' equity ratio was 136.1%, an increase from 130.0% in the previous year[16]. - EBITDA interest coverage improved to 6.45 times, compared to 5.21 times in the first half of 2019[16]. - Operating profit increased to HK$7,345,716, compared to HK$6,780,204 in 2019, reflecting a growth of about 8.3%[79]. - Total comprehensive income for the period was HK$2,380,143, down from HK$3,767,334 in 2019, a decrease of approximately 36.8%[82]. - Non-current assets increased to HK$189,881,287 as of June 30, 2020, from HK$186,166,238 at the end of 2019, reflecting a growth of about 1.5%[85]. - Current assets totaled HK$34,337,124, an increase from HK$29,569,488 at the end of 2019, representing a growth of approximately 16.0%[88]. - Total liabilities rose to HK$136,711,249 thousand as of June 30, 2020, up from HK$129,019,713 thousand at the end of 2019[25]. - The Group's net profit increased by 12.7% to HK$45.29 billion for the six months ended June 30, 2020, compared to HK$40.18 billion in the same period last year[97]. - Segment revenue from thermal power was HK$24.75 billion, while renewable energy segment revenue was HK$6.43 billion, totaling HK$31.18 billion[114]. - Segment profit for thermal power was HK$4.01 billion, and for renewable energy was HK$3.69 billion, leading to a total profit before income tax of HK$6.01 billion[114]. Sustainability and ESG Initiatives - CR Power was selected as a constituent of the Hang Seng ESG 50 Index and the Hang Seng Corporate Sustainability Benchmark Index for the first time, effective September 7, 2020[8]. - The selection for the Hang Seng ESG 50 Index focuses on sustainability performance, with only 50 out of over 2,000 listed companies in Hong Kong included[9]. - CR Power has published sustainability reports for 10 consecutive years, demonstrating its commitment to environmental, social, and governance responsibilities[10]. - The company's inclusion in the Hang Seng ESG 50 Index reflects recognition of its sustainable development efforts by the capital markets[10]. - CR Power's operational generation capacity is diversified across various energy sources, enhancing its resilience and sustainability[4]. - The company aims to improve its sustainable development practices continuously, laying a solid foundation for long-term value creation[10]. - CR Power's strategic focus includes expanding its clean and renewable energy projects in affluent regions and areas with abundant coal resources in China[5]. Technological Advancements and Innovations - CR Power is focusing on technological transformation and innovation to improve energy efficiency and reduce emissions[26]. - The company is focusing on advanced technologies for energy storage and hydrogen energy to capture new business opportunities[56]. - The company continues to promote technological innovation in energy conservation and has increased investment in environmental protection upgrades[36]. - As of June, 9 out of 10 regions achieved centralized operation and maintenance of new energy, with 98% of wind turbines included in the centralized monitoring system, and the man-to-turbine ratio increased to 4.43 units per person[33]. Market Expansion and Future Growth - Future growth is anticipated through continued investment in renewable energy projects and potential market expansions in various provinces[22]. - The company plans to actively participate in pilot spot markets for electricity sales and expand its customer base to enhance core competencies in spot trading[56]. - The company is actively developing offshore wind power projects in addition to onshore projects[31]. - In the second half of the year, the company aims to complete a large number of wind power projects and increase the share of renewable energy generation capacity[50]. Employee and Community Engagement - The company has donated approximately RMB 45.79 million to various charitable causes, including RMB 8 million for the construction of Ningxia Haiyuan Ecological Park[43]. - The Group had approximately 21,108 employees as of June 30, 2020[182]. - The Group has entered into employment contracts with all employees, with compensation primarily consisting of salaries and performance-based bonuses[182].

Operational Capacity and Energy Generation - As of December 31, 2019, CR Power operated 36 coal-fired power plants, 96 wind farms, 21 photovoltaic power plants, 2 hydro-electric plants, and 3 gas-fired power plants, with a total attributable operational generation capacity of 40,392 MW[7]. - The attributable operational generation capacity in renewable energy (wind, hydro-electric, and photovoltaic) totaled 9,420 MW, accounting for approximately 23.3% of the total capacity[7]. - CR Power's thermal power generation capacity includes 1,000MW, 600MW, and 300MW plants across various locations[13]. - The company operates multiple renewable energy projects, including wind and photovoltaic plants, contributing to a diversified energy portfolio[13]. - CR Power's renewable energy projects account for 62.94% of its total energy generation capacity[13]. - The total installed capacity across various provinces is 1,950 MW in Jiangsu, 2,000 MW in Guangdong, and 1,840 MW in Henan, among others[14]. - The Group's total attributable operational generation capacity was 40,392 MW, with thermal power plants accounting for 76.7%[161]. - The average full-load equivalent utilization hours of the Group's coal-fired power plants was 4,725 hours, a decrease of 5.5% from 2018, but exceeding the national average by 432 hours[161]. - The attributable generation capacity of newly commissioned wind and photovoltaic power projects reached 1,871 MW and 5.1 MW respectively in 2019[163]. - The average utilization hours for wind power generation units of the Group was 2,201 hours, exceeding the national average by 119 hours[162]. - The Group's attributable operational wind power generation capacity was 8,687 MW, with 3,809 MW under construction at the end of 2019[163]. - The Group's attributable operational photovoltaic generation capacity reached 453 MW, with 98 MW under construction[163]. Financial Performance - In 2019, the company's turnover was HK$67,757.6 million, a decrease from HK$76,940.1 million in 2018, representing a decline of approximately 11.4%[9]. - Profit attributable to owners of the company for 2019 was HK$6,950.3 million, an increase of 75.7% compared to HK$3,950.4 million in 2018[9]. - Basic and diluted earnings per share attributable to owners of the company were both HK$1.37 in 2019, up from HK$0.83 in 2018[9]. - The company declared a dividend per share of HK$0.548 for 2019, compared to HK$0.328 in 2018, marking a 67.1% increase[9]. - Revenue for the year decreased by 11.9% compared to the previous year, totaling HK$67.758 billion, primarily due to business restructuring from the disposal of coal mining assets in 2018[18]. - Profit attributable to owners of the company increased by approximately 66.8% compared to 2018, reaching HK$6.59 billion[18]. - The Group's consolidated turnover for the year ended December 31, 2019, was HK$67,757,632, a decrease of 11.4% from HK$76,940,125 in 2018[184]. - Operating profit increased to HK$12,888,458 in 2019, compared to HK$11,348,285 in 2018, reflecting a growth of 13.6%[184]. - Profit for the year attributable to owners of the Company rose to HK$6,590,345, up from HK$3,950,435 in 2018, representing a significant increase of 67.1%[184]. - Total operating expenses decreased to HK$57,862,974 in 2019 from HK$66,175,052 in 2018, a reduction of 12.5%[184]. - The Group's profit before income tax for 2019 was HK$9,653,016, compared to HK$7,311,175 in 2018, marking a growth of 32.0%[184]. Investments and Capital Expenditure - Non-current assets increased to HK$186,166.2 million in 2019 from HK$178,274.1 million in 2018, reflecting a growth of approximately 4.0%[9]. - The Group's cash capital expenditure in 2019 was approximately HK$22,786 million, with HK$17,685 million allocated to renewable energy projects[173]. - The expected cash capital expenditure for 2020 is approximately HK$24 billion, with HK$19 billion earmarked for renewable energy projects[180]. - The Group plans to develop a total of 1,222 MW of new coal and gas power generation capacity in 2020, including a 1,000 MW supercritical unit in Hebei[181]. Environmental and Social Responsibility - The company invested RMB1.828 billion in environmental protection, improving key indicators of energy consumption and emissions[26]. - The average net generation standard coal consumption rate decreased to 296.64 g/kWh, down by 2.90 g/kWh from 2018[26]. - The company captured approximately 20,000 tonnes of carbon dioxide annually through its carbon capture testing platform, contributing to waste resource utilization[28]. - The company participated in charitable activities, donating approximately RMB117 million to support poverty alleviation and education initiatives[32]. - By the end of 2019, a total of 515 MW of renewable energy projects were implemented, contributing over RMB 36 million annually to poverty alleviation and effectively lifting approximately 36,000 people out of poverty[33]. - The company donated approximately RMB 117 million to social causes throughout the year, including poverty alleviation and educational support, while also creating 855 new jobs[35]. Strategic Initiatives and Future Outlook - The company aims to enhance service capabilities and customer engagement while focusing on industrial energy efficiency and smart energy solutions[2]. - CR Power plans to continue promoting advanced technologies such as energy storage and hydrogen energy in its operations[2]. - The company is focusing on expanding its renewable energy portfolio, particularly in wind and photovoltaic projects across multiple provinces[14]. - Future outlook includes maintaining high effective equity interests and increasing installed capacity in key regions[14]. - The company is exploring new technologies and products to enhance operational efficiency and sustainability in energy production[14]. - The company aims to enhance service capabilities and customer loyalty while expanding its power sales business in response to market reforms[38]. - The company plans to actively stock up on quality wind and solar power resources in Northern, Northeastern, and Northwestern China, as well as offshore locations, to drive earnings growth[37]. - The Group plans to accelerate the construction of wind power projects in response to the government's grid parity policy starting in 2021[176]. Governance and Leadership - The company has a diverse board with members holding qualifications from prestigious institutions, enhancing governance and oversight[52]. - The board includes members with significant experience in various sectors, including law, finance, and public service, contributing to strategic decision-making[53]. - The company has a strong leadership team with diverse backgrounds in finance, governance, and industry experience, enhancing its strategic decision-making capabilities[54][55][57][58]. - The management team collectively brings decades of experience in the energy sector, which is critical for navigating market challenges and opportunities[62]. - The leadership team's diverse expertise positions the company well for future challenges and opportunities in the energy sector[65]. Risks and Compliance - The Group faces various risks, including operational, policy, industry, market, business, and financial risks, which are outlined in the report[69]. - The Group has complied with all relevant laws and regulations that significantly impact its operations during the year ended December 31, 2019[75]. - The company has complied with the disclosure requirements regarding connected transactions for the year ended December 31, 2019[147]. - The auditor issued an unqualified letter regarding the continuing connected transactions disclosed by the group[141].