Financial Performance - The company reported a consolidated operating revenue of RMB 21.662 billion for the six months ended June 30, 2022, representing an increase of 11.7% compared to RMB 19.385 billion in the same period of 2021[22]. - The pre-tax profit decreased to RMB 6.309 billion, down 13.1% from RMB 7.256 billion in the same period of 2021[22]. - The net profit attributable to equity holders of the company was RMB 4.333 billion, a decline of 17.5% from RMB 5.251 billion in the same period of 2021[22]. - Basic earnings per share decreased to RMB 0.5052, down from RMB 0.6385 in the same period of 2021[22]. - The company's net profit for the first half of 2022 was RMB 5.141 billion, a decrease of 14.9% from RMB 6.039 billion in the same period of 2021[63]. - The wind power segment's sales revenue for the first half of 2022 was RMB 14.293 billion, a slight increase of 0.6% from RMB 14.208 billion in the same period of 2021[64]. - The thermal power segment's sales revenue increased by 24.5% to RMB 2.040 billion in the first half of 2022, compared to RMB 1.639 billion in the same period of 2021[67]. - The company's operating expenses increased by 30.3% to RMB 14.079 billion in the first half of 2022, compared to RMB 10.802 billion in the same period of 2021[72]. - The company's operating profit for the first half of 2022 was RMB 819.6 million, a decline of 10.5% from RMB 915.8 million in the same period of 2021[85]. Assets and Liabilities - Total assets increased to RMB 216.873 billion as of June 30, 2022, compared to RMB 205.695 billion as of December 31, 2021[23]. - The total liabilities rose to RMB 137.038 billion, up from RMB 127.671 billion as of December 31, 2021[23]. - The company's net assets amounted to RMB 79.835 billion, an increase from RMB 78.024 billion as of December 31, 2021[23]. - The company's current assets reached RMB 502.49 billion as of June 30, 2022, an increase of RMB 105.25 billion from RMB 397.24 billion at the end of 2021[113]. - The company's net current liabilities decreased to RMB 165.67 billion as of June 30, 2022, down RMB 59.49 billion from RMB 225.16 billion at the end of 2021[116]. - The net debt-to-equity ratio as of June 30, 2022, was 54.18%, a decrease of 2.23 percentage points from 56.41% at the end of 2021[130]. Power Generation and Capacity - The total installed power generation capacity in the country reached 2.44 billion kilowatts, a year-on-year increase of 8.1%[25]. - Wind power generation capacity grew by 17.2% year-on-year, reaching 340 million kilowatts, while solar power generation capacity increased by 25.8%[25]. - In the first half of 2022, the company achieved a total power generation of 36.305 billion kWh, representing a year-on-year increase of 9.66%[36]. - Wind power generation reached 30.216 billion kWh, up 10.25% year-on-year, while solar and other renewable energy generation surged by 86.02% to 0.818 billion kWh[36]. - As of June 30, 2022, the company's total installed capacity reached 28,827.99 MW, with wind power accounting for 25,711.44 MW[36]. - The total installed capacity of wind farms increased to 25,711.44 MW as of June 30, 2022, up 14.63% from 22,429.14 MW in 2021[47]. Renewable Energy Initiatives - The company aims to enhance its green and low-carbon technology development in line with national policies promoting carbon peak and carbon neutrality[26]. - Non-fossil energy consumption is targeted to reach approximately 17.3% of total energy consumption, with an additional 180 billion kWh of electricity substitution planned[28]. - Wind and solar power generation is expected to account for about 12.2% of total electricity consumption[28]. - The plan includes large-scale development of renewable energy, particularly in the "Three North" regions for wind and solar power[28]. - The government aims to enhance the green power trading system and promote the consumption of renewable energy across various sectors[30]. - The renewable energy consumption guarantee mechanism is being improved to support the development of renewable energy projects[29]. - The company is actively developing green finance initiatives and promoting the use of renewable energy sources such as wind, solar, and biomass[35]. Financial Management and Investments - The company received RMB 50 billion in renewable energy subsidies from the central government to support energy supply and alleviate coal power companies' financial pressures[35]. - The company reported a net cash outflow of RMB 2.038 billion from investment activities in the first half of 2022, mainly for wind power project construction[138]. - The company faced risks related to policy changes in the electricity market, with ongoing reforms and an expanding scale of new energy market transactions, necessitating close monitoring of national policies to secure long-term sales revenue[140]. - The company issued A-shares for asset acquisition and cash purchases, resulting in a net decrease in equity attributable to equity holders of RMB 38.40 billion[106]. - The company acquired 100% equity of Northeast New Energy for RMB 794 million, Shaanxi New Energy for RMB 816 million, Guangxi New Energy for RMB 986 million, Yunnan New Energy for RMB 752 million, Gansu New Energy for RMB 442 million, Tianjin Clean Energy for RMB 600 million, and Inner Mongolia New Energy for RMB 791 million, totaling RMB 4.4 billion in acquisitions[133]. Corporate Governance and Management - The group has established a modern corporate governance structure to create shareholder value, adhering to the Corporate Governance Code[148]. - The board consists of three independent non-executive directors with appropriate professional qualifications, ensuring compliance with listing rules[152]. - The group has implemented a board diversity policy to support strategic goals and sustainable development, considering various factors in board composition[151]. - The company’s internal audit and risk management systems are overseen by the audit committee, ensuring compliance with financial reporting standards[153]. - The group has implemented a performance-based compensation system that links employee salaries to the company's economic performance and individual contributions[170]. - The group continues to promote a "big training" system to enhance employee growth and development[170]. Market and Competitive Landscape - The group actively explores market potential in Central and Eastern Europe, Southern Africa, and Southeast Asia, aiming for regional development and breakthroughs in key markets[53]. - The group aims to enhance market competitiveness and governance capabilities, focusing on risk management, development, and digital transformation[147]. - The group is committed to executing long-term coal supply agreements to ensure timely supply and compliance, while closely monitoring market trends to optimize procurement strategies[145].

Financial Performance - The company's revenue for the first half of 2022 was 15 billion RMB, up 8% year-on-year[7]. - The net profit attributable to shareholders for the first half of 2022 was 2 billion RMB, reflecting a growth of 12% compared to the previous year[7]. - The company's operating revenue for the reporting period reached ¥21.67 billion, an increase of 11.69% compared to the previous year's adjusted figure of ¥19.40 billion[12]. - Net profit attributable to shareholders was ¥4.33 billion, a decrease of 17.36% from the previous year's adjusted net profit of ¥5.24 billion[12]. - The total revenue for the company reached approximately CNY 3.5 billion, with a net profit of CNY 1.5 billion, reflecting a year-on-year increase of 15% in revenue and 10% in net profit[81]. - The total comprehensive income for the first half of 2022 was CNY 5.22 billion, down from CNY 6.06 billion in the same period of 2021[152]. - The net profit for the first half of 2022 was CNY 5.14 billion, a decrease of 15% from CNY 6.04 billion in the same period of 2021[152]. Installed Capacity and Production - The company reported a total installed capacity of 20,000 MW as of June 30, 2022, with a year-on-year increase of 5%[7]. - The electricity sales volume for the first half of 2022 reached 50 billion kWh, representing a 10% increase compared to the same period last year[7]. - The company achieved a total electricity generation of 36.305 billion kWh, representing a year-on-year increase of 9.66%[30]. - Wind power generation reached 30.216 billion kWh, with a year-on-year growth of 10.25%[30]. - The total installed capacity of the group reached 28,827.99 MW by June 30, 2022, with wind power accounting for 25,711.44 MW, an increase of 14.63% compared to the previous year[40][41]. Renewable Energy Initiatives - The company plans to expand its renewable energy capacity by 1,500 MW in the next 12 months, focusing on wind and solar projects[7]. - The company is committed to achieving carbon neutrality by 2030, aligning with national energy policies and sustainability goals[7]. - The company is actively developing green finance initiatives and promoting renewable energy projects as part of national policies[29]. - The company is exploring strategic acquisitions to enhance its portfolio in renewable energy, focusing on companies with complementary technologies[81]. - The company is focusing on expanding its market presence and enhancing its competitive edge through strategic investments in renewable energy projects[84]. Financial Management and Investments - The company reported a net increase in cash and cash equivalents of ¥10.91 billion, a significant improvement of 688.03% compared to a net decrease of ¥1.86 billion in the same period last year[61]. - The company’s total assets at the end of the reporting period included cash and cash equivalents of ¥15.09 billion, representing 6.98% of total assets, a significant increase from 2.04% the previous year[66]. - The company’s investment activities generated a net cash outflow of ¥2.04 billion, a 71.66% improvement compared to a net outflow of ¥7.19 billion in the previous year[60]. - The company completed significant equity investments totaling CNY 5,774,000,000, with an investment income of CNY 441,929,961.22 during the reporting period[73]. - The company’s total cash inflow from financing activities was ¥73,985,043,959.46, compared to ¥50,161,290,248.41 in the previous year, highlighting increased borrowing to support growth initiatives[160]. Environmental and Safety Measures - The company is committed to ensuring 100% safe disposal of hazardous waste and has implemented comprehensive monitoring throughout the waste management process[93]. - The company achieved a "zero discharge" status for industrial wastewater and maintains stable emissions below the ultra-low discharge standards for particulate matter, sulfur dioxide, and nitrogen oxides[93]. - The company implemented safety measures resulting in no personal accidents or major equipment incidents during the reporting period[31]. - The company has established a comprehensive environmental management system to strictly control carbon emission data quality and fulfill environmental responsibilities[98]. - The company is actively developing new energy projects such as wind and solar power in Youyu County to support rural revitalization and economic stability[102]. Strategic Outlook and Future Plans - The management has indicated a positive outlook for the second half of 2022, expecting a continued increase in electricity demand[7]. - The company plans to maintain coal supply through annual long-term agreements and aims to increase procurement volume at lower costs to balance supply and demand[88]. - The company aims to enhance its market competitiveness and governance capabilities while ensuring safety and stability in operations in the second half of 2022[49]. - Future guidance suggests a projected revenue growth of 12% for the next fiscal year, driven by increased demand for renewable energy solutions[81]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[166].

Financial Performance - In 2021, the company achieved a total operating revenue of RMB 37.195 billion, representing a year-on-year increase of 29.75%[7] - The net profit attributable to shareholders reached RMB 6.413 billion, up 27.63% compared to the previous year[7] - The company's revenue for 2021 reached RMB 37,195 million, a significant increase from RMB 28,667 million in 2020, representing a growth of approximately 29.5%[10] - The pre-tax profit for 2021 was RMB 8,756 million, up from RMB 6,922 million in 2020, indicating a growth of about 26.5%[11] - The net profit attributable to equity holders for 2021 was RMB 6,413 million, compared to RMB 5,025 million in 2020, reflecting an increase of approximately 27.6%[24] - The earnings per share (EPS) for 2021 was RMB 76.63, a rise from RMB 58.81 in 2020, marking an increase of around 30.3%[14] Installed Capacity and Power Generation - The total installed capacity of the company reached 26,699 MW by the end of 2021, with wind power capacity at 23,668 MW, maintaining the global leading position[5] - The total power generation for the year was 63,285,328 MWh, an increase of 19.26% year-on-year[6] - The total installed capacity of various power sources reached 26,699 MW by the end of 2021, with wind power accounting for 23,668 MW, maintaining a leading position among global wind power operators[27] - The company added a total of 2,104 MW of new installed capacity in 2021, with 1,451 MW from wind power[193] - The total electricity generation reached 63,285,328 MWh, representing a year-on-year increase of 19.26%, with wind power generation contributing 51,299,762 MWh, up 17.44% year-on-year[193] Strategic Development and Expansion - The company signed development agreements for over 56.46 GW and obtained development rights for 18.36 GW, both historical highs[7] - The company plans to leverage its A-share listing to enhance competitiveness and capitalize on strategic opportunities in the renewable energy sector[9] - The company continues to expand its operations in various renewable energy sectors, including wind, solar, biomass, tidal, geothermal, and thermal power projects across 32 provinces in China and internationally[27] - The company is expanding its international presence, with 100% ownership in Longyuan Canada Renewable Energy Co., Ltd. and Longyuan South Africa Renewable Energy Co., Ltd., both contributing substantial capacity[28] - The company has plans for strategic acquisitions to bolster its renewable energy portfolio and expand its market reach[32] Digital Transformation and Innovation - The company implemented a digital transformation strategy, connecting nearly 14,000 wind turbines to a digital platform, with 45 million data access points[7] - The company has initiated a digital transformation plan, achieving nearly 100% data collection and implementing a new operational model with unmanned stations[195] - The company has developed a self-owned power forecasting system for renewable energy stations to promote coordinated development between generation and grid[195] - The company has established a risk data repository and improved its risk management system in compliance with national safety production regulations[194] Sustainability and Environmental Commitment - The company is committed to sustainability and aims to achieve carbon neutrality by 2030[32] - Longyuan Power Group has been recognized as a "Carbon Neutral Pioneer Enterprise" for its efforts in green and low-carbon development[172] - The company completed a carbon trading transaction of 210,000 tons in South Africa, with a transaction value of $350,000, marking the first large-scale renewable energy project international voluntary emission reduction transaction in South Africa[174] Operational Efficiency - The company achieved a wind power utilization hour of 2,366 hours, exceeding the industry average by 134 hours[7] - The average utilization hours for wind power in 2021 were 2,366 hours, an increase of 127 hours compared to 2020, attributed to higher wind speeds and improved equipment management[195] - The company reported a 100% operational efficiency for multiple projects, including 350.50 MW in Dafeng and 388.30 MW in Xuyi[88] - The company has focused on addressing systemic issues in equipment management, aiming for the construction of fault-free wind farms[195] Government Policies and Market Trends - The Chinese government aims for non-fossil energy consumption to reach 20% by 2025 and 25% by 2030, emphasizing the importance of renewable energy in achieving carbon neutrality goals[179] - The total installed capacity for wind and solar power is projected to exceed 1,200 GW by 2030, with a focus on large-scale development and high-quality growth of these energy sources[180] - The government encourages renewable energy companies to build or purchase peak-shaving capabilities to increase grid connection scale, with initial capacity linked to 15% of power output[183] - The integration of source, grid, load, and storage is being promoted to ensure the consumption of renewable energy and support the healthy development of new energy[181]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 10,422,048,736.30, representing a 5.83% increase compared to CNY 9,847,698,517.47 in the same period last year[2] - Net profit attributable to shareholders was CNY 2,254,068,497.48, a decrease of 21.33% from CNY 2,865,210,984.13 in the previous year[2] - The net profit after deducting non-recurring gains and losses was CNY 2,250,113,599.19, down 20.68% from CNY 2,836,839,025.17 year-on-year[2] - Basic and diluted earnings per share were both CNY 0.26, down 25.71% from CNY 0.35 in the same period last year[2] - The weighted average return on equity was 3.24%, a decrease of 1.14% from 4.38% in the previous year[2] - Operating profit decreased to CNY 3,302,807,988.89 from CNY 3,906,476,581.46, reflecting a decline of about 15.4%[17] - Net profit for the current period was CNY 2,700,239,847.60, down from CNY 3,243,612,797.62, indicating a decrease of approximately 16.8%[17] - Total comprehensive income for the current period was CNY 2,717,120,417.48, down from CNY 3,260,612,903.30, a decrease of about 16.6%[18] Cash Flow - The net cash flow from operating activities was CNY 2,531,171,690.44, reflecting a significant decline of 45.88% compared to CNY 4,677,016,599.22 in the previous year[2] - Cash flow from operating activities amounted to CNY 8,572,992,802.89, compared to CNY 6,579,448,686.43 in the previous period, showing an increase of approximately 30.3%[19] - The net cash flow from operating activities for Q1 2022 was CNY 2,531,171,690.44, a decrease of 46% compared to CNY 4,677,016,599.22 in Q1 2021[20] - The net cash flow from financing activities was CNY 2,647,178,538.74, compared to a negative cash flow of CNY 105,570,296.35 in Q1 2021[21] - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 3,874,089,207.10, down from CNY 6,345,361,140.06 at the end of Q1 2021[21] - The total cash outflow for financing activities was CNY 38,172,246,303.19, an increase from CNY 31,835,545,852.19 in the previous year[21] - The company reported a cash inflow from borrowing of CNY 40,751,318,518.11, up from CNY 30,601,029,132.74 in Q1 2021[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 208,762,260,049.98, an increase of 1.93% from CNY 204,803,502,677.71 at the end of the previous year[2] - The equity attributable to shareholders was CNY 68,060,516,448.98, showing a slight decrease of 0.22% from CNY 68,207,870,600.00 at the end of the previous year[3] - The total current assets increased to CNY 44.60 billion from CNY 40.17 billion, representing a growth of about 10.0%[13] - The total liabilities decreased to CNY 130.35 billion from CNY 126.71 billion, indicating a decrease of approximately 2.0%[14] - The company's equity attributable to shareholders decreased slightly to CNY 68.06 billion from CNY 68.21 billion, a decline of about 0.2%[15] - Long-term borrowings increased to CNY 55.53 billion from CNY 46.37 billion, reflecting an increase of approximately 19.0%[14] Non-Recurring Gains and Other Income - Non-recurring gains included CNY 8,493,971.82 from the disposal of non-current assets and CNY 10,110,584.54 from the net profit of subsidiaries prior to consolidation[5] - The company reported a significant increase in non-recurring gains related to investment income from entrusted financial management, amounting to approximately CNY 248.71 million[7] - Non-operating income increased by 215% year-on-year, primarily due to the recognition of carbon trading income and funds from previous equity acquisition payments[6] Investment and Expenses - Investment income decreased by 657% year-on-year, mainly due to increased losses from the associate company Guodian United Power Technology Co., Ltd.[6] - Research and development expenses increased to CNY 13,875,643.51 from CNY 12,352,289.54, reflecting an increase of about 12.3%[16] - The company experienced a loss in investment income of CNY -93,531,946.92, compared to a gain of CNY 16,781,409.81 in the previous period[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,602,432,800 shares, with the largest shareholder holding 54.91%[8] - The company completed the acquisition of assets from other subsidiaries of the State Energy Group in early January 2022, finalizing the registration of changes in business operations[11]

Revenue and Profit - The group's revenue for the three months ended March 31, 2022, was RMB 10.422 billion, an increase of 4.76% compared to the same period last year[2]. - Net profit attributable to equity holders of the company was RMB 2.258 billion, a decrease of 22.88% compared to the same period last year[2]. - The group reported a total operating profit of RMB 4.368 billion, down from RMB 5.057 billion in the same period last year[2]. - Financial expenses decreased to RMB 954.183 million from RMB 1.078 billion year-on-year[2]. - The other revenue increased to RMB 179.747 million, up 42.86% year-on-year[5]. Power Generation - The total power generation for the group was 18,216,668 MWh, an increase of 4.83% year-on-year, with wind power generation increasing by 5.13% to 15,142,123 MWh[1]. - Wind power generation for the three months ended March 31, 2022, was 15,142,123 MWh, up 5.13% from 14,403,790 MWh in the same period last year[8]. - The renewable energy segment saw a significant increase in generation, with a 93.04% rise to 1,163.64 MWh compared to 602.80 MWh previously[7]. - The hydropower generation in Henan increased by 121.53% to 110,708 MWh from 49,974 MWh in the previous year[9]. - The company experienced a 58.97% increase in other renewable energy generation, reaching 319,829 MWh compared to 201,192 MWh last year[9]. - The coal-fired power generation remained stable at 2,754,717 MWh, showing a slight decrease of 0.64% from 2,772,571 MWh[9]. - The company reported a 54.82% increase in power generation in Tianjin, reaching 254,410 MWh compared to 169,179 MWh last year[8]. - The company reported a total generation of 18,216,668 MWh for the three months ended March 31, 2022, which is a 4.83% increase from 17,377,553 MWh year-over-year[9]. Installed Capacity - The installed capacity for wind power as of March 31, 2022, was 25,661.44 MW, representing a growth of 14.80% from the previous year[6]. - The total installed capacity as of March 31, 2022, was 28,700.08 MW, representing a 15.58% increase from 24,830.44 MW in the previous year[7]. Strategic Initiatives - The group completed the acquisition of assets from subsidiaries of the State Energy Investment Group, with the final registration completed between January 4 and January 6, 2022[3]. - The company plans to continue expanding its renewable energy capacity and improve operational efficiency in the coming quarters[10]. - The company is focusing on strategic acquisitions to enhance its market position and diversify its energy portfolio[10]. Accounting Policies - The group plans to implement new accounting policies effective from January 1, 2022, in accordance with the revised International Accounting Standard 16[4].

Financial Performance - The company reported significant financial metrics for 2021, including total installed capacity and operational efficiency, which are detailed in the financial report section [9]. - The company's operating revenue for 2021 was ¥37,208,491,000.16, representing a year-over-year increase of 29.16% compared to ¥28,807,119,105.18 in 2020 [13]. - The net profit attributable to shareholders for 2021 was ¥6,404,178,984.07, up 28.67% from ¥4,977,377,854.94 in 2020 [13]. - The net cash flow from operating activities increased by 36.52% to ¥16,755,015,206.73 in 2021 from ¥12,273,195,998.76 in 2020 [13]. - Basic earnings per share rose by 31.43% to ¥0.7652 in 2021, compared to ¥0.5822 in 2020 [13]. - The total assets at the end of 2021 were ¥189,305,705,339.80, an increase of 8.40% from ¥174,628,622,955.62 at the end of 2020 [13]. - The company’s revenue for 2021 was approximately CNY 37.21 billion, a year-on-year increase of 29.16%, while the total profit reached CNY 8.75 billion, up 25.36% from the previous year [65]. - The company reported a total revenue of 10 billion RMB for the fiscal year 2021, representing a year-over-year increase of 15% [150]. Dividend Distribution - The company plans to distribute a cash dividend of 1.47 RMB per 10 shares to all shareholders, based on a total of 8,381,963,164 shares [2]. - The company distributed cash dividends amounting to 1,232,148,585.10 CNY, which is 20% of the distributable profit of 6,158,633,000.00 CNY [170]. - The board of directors approved a dividend payout of 0.5 RMB per share, reflecting a 20% increase from the last fiscal year [150]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its operational capabilities through strategic initiatives [2]. - The company has identified opportunities for market expansion and new product development in response to evolving industry demands [21]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025 [150]. - The company is exploring strategic acquisitions to enhance its market presence, particularly in emerging markets [103]. - The company is actively engaged with government authorities to secure favorable policies and expand its energy generation capacity [112]. Research and Development - The company has committed to ongoing research and development of new technologies to improve energy efficiency and sustainability [2]. - Research and development expenses increased by 82.06% to ¥140,135,321.81 due to significant investment in new R&D projects [77]. - The company invested CNY 175,638,606.35 in R&D in 2021, a 101.28% increase from CNY 87,258,826.16 in 2020 [83]. - The company is developing key technologies for floating offshore wind power, with ongoing projects aimed at overcoming design challenges and enhancing economic viability [78]. - The company aims to develop software for wind resource assessment and risk evaluation, which is expected to break the monopoly of foreign companies in this field [80]. Operational Efficiency and Governance - The company has a strong governance structure with various committees overseeing different aspects of its operations [2]. - The company has established a comprehensive technology innovation system, with 19 new patent applications and 29 new authorized patents in the reporting year [64]. - The company has implemented a digital transformation plan, achieving nearly 100% data collection and deploying over 100 predictive maintenance models [37]. - The company emphasizes performance-based salary structures to incentivize employees and enhance productivity [164]. - The company has established a modern corporate governance structure, ensuring compliance with relevant laws and regulations [123]. Environmental Responsibility - The company is committed to maximizing green benefits while developing new projects and adhering to national environmental laws and regulations [187]. - The company has established a specialized carbon asset company to manage carbon emissions from its thermal power plants, focusing on energy-saving renovations to reduce greenhouse gas emissions [193]. - The company actively promotes low-carbon initiatives and encourages voluntary emission reduction among businesses and individuals [198]. - The company aims to save approximately 400,000 tons of water in 2022 through the recovery and reuse of reverse osmosis concentrate at the Jiangyin Sulong power plant [194]. - The company achieved a 100% utilization rate of fly ash from its thermal power plants, using it for road construction and cement production [189]. Risk Management - The company emphasizes the importance of risk management and has outlined potential risks in the management discussion and analysis section [2]. - The company has identified climate risks related to wind resource variability and is implementing strategies to manage these risks effectively [112]. - The company plans to integrate risk management into daily operations in 2022, ensuring comprehensive coverage across all business areas and departments [115]. - The company identified typical risks in overseas projects, including exchange rate risk in the Xionga Company and operational safety and compliance risks in South Africa, Canada, and Ukraine [174]. Management Changes - The company reported significant management changes, with a total of 12 new appointments and 6 departures in 2021 [134]. - The company appointed several new executives in 2021, including Tang Jian as General Manager and Li Zhongjun as Executive Director and Chairman [133]. - The management changes are expected to align with the company's long-term strategic goals and enhance governance [134]. - The company is focused on enhancing its operational independence and maintaining a complete business system [124]. Employee Development - The total number of employees at the end of the reporting period was 8,053, with 5,589 in production, 2,408 in technical roles, and 56 in finance [163]. - In 2021, the company trained a total of 95,497 person-times, with 6,127 employees participating in training programs [167]. - The training rate for management and professional technical staff was 94.85%, while for production staff it was 68.60% [166]. - The company has a dynamic salary adjustment mechanism to enhance employee motivation and performance, focusing on key positions and high-skilled talents [164]. Financial Health - The company has a low debt-to-asset ratio compared to industry peers, maintaining a strong credit rating with multiple AAA ratings from domestic agencies [62]. - The total investment amount for the reporting period was CNY 20.15 billion, a decrease of 2.85% from CNY 20.74 billion in the previous year [90]. - The company successfully issued 26 short-term financing bonds and 3 medium-term notes in 2021, maintaining a competitive funding cost within the industry [50]. - The company is exploring carbon trading markets and the development of energy storage solutions as part of its future strategy [118].

Financial Performance - The company reported a consolidated operating revenue of RMB 17.877 billion for the six months ended June 30, 2021, representing a 25.7% increase from RMB 14.218 billion in the same period of 2020[25]. - The profit before tax was RMB 6.375 billion, up 38.8% from RMB 4.594 billion year-on-year[25]. - Net profit attributable to equity holders of the company was RMB 4.540 billion, a 36.3% increase compared to RMB 3.331 billion in the same period last year[25]. - Basic earnings per share increased to RMB 0.5500 from RMB 0.3994, reflecting a rise of RMB 0.1506[25]. - In the first half of 2021, the company achieved a net profit of RMB 5.249 billion, a 39.0% increase from RMB 3.776 billion in the same period of 2020[55]. - The company's operating revenue for the first half of 2021 was RMB 17.877 billion, up 25.7% from RMB 14.218 billion in the same period of 2020[56]. - The wind power segment's sales revenue was RMB 12.738 billion, a 20.2% increase from RMB 10.601 billion in the same period of 2020[56]. - The thermal power segment's operating income reached RMB 4.826 billion, a significant increase of 44.9% from RMB 3.330 billion in the same period of 2020[94]. - The total comprehensive income for the six months ended June 30, 2021, was RMB 5,250,807 thousand, an increase of 51.0% compared to RMB 3,479,309 thousand for the same period in 2020[158]. Assets and Liabilities - The total assets of the company amounted to RMB 180.235 billion, with total liabilities of RMB 109.733 billion[26]. - As of June 30, 2021, the company's net asset per share was RMB 7.60, up from RMB 7.18 at the end of 2020[26]. - The equity attributable to equity holders was RMB 61.042 billion, an increase of RMB 3.354 billion from RMB 57.688 billion as of December 31, 2020[100]. - Current assets were RMB 33.425 billion, an increase of RMB 2.241 billion from RMB 31.184 billion as of December 31, 2020[103]. - The current ratio improved to 0.64 from 0.59 as of December 31, 2020, due to an increase in current assets and a slight decrease in current liabilities[107]. - Total liabilities reached RMB 109.733 billion, up by RMB 0.896 billion from RMB 108.837 billion as of December 31, 2020[100]. - The company's total equity increased to RMB 70,502,341 thousand as of June 30, 2021, compared to RMB 66,448,974 thousand as of December 31, 2020, marking a growth of 6.1%[161]. Renewable Energy Development - The total installed capacity of wind power reached 290 million kW, a year-on-year increase of 34.7%[27]. - The company plans to continue expanding its renewable energy capacity in response to the growing demand for electricity and the shift towards green energy[27]. - The Chinese government aims for renewable energy to account for over 50% of total installed power capacity by the end of the 14th Five-Year Plan[29]. - The guaranteed grid connection scale for renewable energy projects in 2021 is set to be no less than 90 million kW[31]. - The government plans to ensure that the proportion of photovoltaic installation on rooftops of government buildings reaches at least 50%[31]. - The new energy consumption is expected to account for about two-thirds of the increase in total electricity consumption in society[29]. - The market for wind and solar energy is entering a stage of parity, reducing reliance on fiscal subsidies[29]. - The company plans to strengthen its position in the renewable energy sector, focusing on solar and wind power development during the 14th Five-Year Plan[45]. Operational Efficiency - The company has completed 645 renewable energy generation subsidy projects in the 12th batch, with an approved capacity of 3,949.01 MW, including 21 centralized wind power projects with a capacity of 1,320 MW[37]. - The average utilization hours for wind power in the first half of 2021 were 1,297 hours, an increase of 110 hours compared to the same period in 2020, attributed to improved wind resources and equipment management[40]. - The average capacity factor for wind power in the first half of 2021 was 30%, compared to 27% in the same period of 2020, indicating improved efficiency[43]. - The company is focusing on digital transformation and has achieved over 95% data collection rate for equipment, enhancing operational stability and management efficiency[39]. - The company has established a fault warning mechanism to identify potential defects in equipment and improve generation performance[39]. Financial Management - The company's operating expenses for the first half of 2021 were RMB 10.322 billion, a 24.3% increase from RMB 8.303 billion in the same period of 2020[62]. - The financial expenses for the first half of 2021 were RMB 1.659 billion, a decrease of 4.2% from RMB 1.732 billion in the same period of 2020[83]. - The company successfully issued RMB 10.30 billion in renewable energy price subsidy asset-backed securities in the first half of 2021, enhancing its financial position[51]. - The company maintained a leading position in the industry by optimizing financing channels and reducing capital costs[50]. - The company reported an increase in foreign exchange gains of RMB 0.015 billion in the first half of 2021 compared to the same period in 2020[83]. Governance and Compliance - The company has complied with the corporate governance code and has established a modern governance structure with effective checks and balances among shareholders, the board, and senior management[124]. - The audit committee has reviewed and confirmed the interim results announcement for the six months ended June 30, 2021, in accordance with international accounting standards[130]. - The company emphasizes the importance of party leadership in state-owned enterprises and is committed to deepening party education and strict governance[122]. - The company has adopted a board diversity policy to enhance its strategic goals and sustainable development[127]. - The company has undergone several changes in its board and management structure, indicating a focus on governance and leadership effectiveness[144][145]. Market Position and Strategy - The company plans to merge with Pingzhuang Energy, involving the issuance of 345,574,165 A-shares at an adjusted price of RMB 11.30 per share[149]. - The merger and asset sale are expected to enhance the company's competitive advantage and align with national renewable energy development strategies[150]. - The company aims to strengthen its market position and reduce competition through resource integration as part of its strategic initiatives[150]. - The company is focused on maximizing revenue and profit by exploring potential in production operations and capital management to meet its annual profit goals[121].

Financial Performance - The company generated 43.683 billion kWh of wind power, an increase of 7.2% year-on-year, and achieved a pre-tax profit of RMB 6.922 billion, a growth of 7.3% compared to the previous year[8][11]. - The total operating revenue for 2020 was RMB 28.667 billion, reflecting a year-on-year increase of 4.1%[11]. - The net profit attributable to shareholders was RMB 5.025 billion, marking a 10.0% increase year-on-year, with earnings per share at RMB 0.5881[11]. - The company's total assets reached RMB 175.286 billion, with net assets of RMB 66.449 billion and a net debt-to-equity ratio of 56.37%[11]. - Revenue for 2020 reached RMB 28,667.18 million, an increase from RMB 27,540.63 million in 2019, representing a growth of approximately 4.1%[30]. - Net profit attributable to equity holders of the company for 2020 was RMB 5,024.98 million, up from RMB 4,566.79 million in 2019, reflecting a growth of about 10%[30]. - The company achieved a net profit of RMB 5.685 billion, an increase of 6.9% compared to RMB 5.320 billion in 2019[158]. - The company's operating revenue for 2020 was RMB 28.667 billion, up 4.1% from RMB 27.541 billion in 2019, primarily driven by a 7.5% increase in sales from the wind power segment[159]. Installed Capacity and Growth - In 2020, China Longyuan Power Group achieved a total installed capacity of 24,681 MW, with wind power capacity reaching 22,303 MW, maintaining its leading position among global wind power operators[13]. - The company added 51,590 MW of new resource reserves and completed the commissioning of 2,524 MW of new energy installations, setting a historical record[7][10]. - The total installed capacity of the group as of December 31, 2020, was 24,681 MW, with wind power accounting for 22,303 MW, thermal power for 1,875 MW, and other renewable energy for 503 MW[151]. - The company reported a total installed capacity of 690.00 MW for Longyuan Jingbian Wind Power Co., Ltd.[80]. - The company has a total of 1,215.00 MW capacity in Jiangyin, highlighting its commitment to large-scale energy projects[56]. - The company has a total of 945.20 MW capacity in Chifeng, indicating strong regional development[46]. Strategic Partnerships and Collaborations - Longyuan Power established strategic partnerships with Goldwind Technology, Envision Energy, and Sungrow Power, focusing on domestic and international new energy project development[7]. - The company launched a strategic cooperation framework agreement with Goldwind Technology to enhance collaboration in various fields, including strategic synergy and mutual benefits[124]. - The company signed a strategic cooperation agreement with Sungrow Power Supply to integrate efforts in photovoltaic power station development and market management[126]. - The company signed a strategic cooperation agreement with the State Grid General Institute to strengthen collaboration in energy development and technology innovation[128]. Digital Transformation and Technological Advancements - The company is advancing its digital transformation, having completed data collection for wind power units and established a new operational management model[14]. - The company has established a cybersecurity laboratory, the first of its kind in the renewable energy sector, to support cybersecurity research and protection efforts[125]. - The company is collaborating with Huawei and other partners to leverage advanced technologies in digital transformation and clean energy development[128]. - The company has established a three-step goal for digital transformation: solidifying data foundations, achieving predictive maintenance, and ensuring reliable grid integration[143]. Environmental and Social Responsibility - The company donated a total of 2.37 million Rand in funds and anti-epidemic materials to the Northern Cape Province in South Africa[124]. - The company achieved a cumulative release of 4.84 million fish fry and 90 million jellyfish seedlings as part of its annual ecological restoration efforts[125]. - The group planted 530,000 trees and 4.49 million shrubs, restoring over 841 hectares of ecology across 18 provinces[151]. Market Expansion and Future Outlook - The company plans to continue expanding its renewable energy projects across China and internationally, focusing on wind, solar, and other clean energy sources[32]. - The company is focused on expanding its renewable energy footprint, with projects in South Africa, Ukraine, and various locations in China[56]. - The company is actively pursuing new energy development, with a notable capacity of 244.00 MW from its solar technology initiatives[62]. - The company is positioned for future growth with ongoing investments in new technologies and market expansion strategies[62]. Operational Efficiency and Management - The average utilization hours for wind power increased to 2,239 hours, up by 50 hours compared to 2019, despite a year-on-year decrease in average wind speed[144]. - Non-planned downtime for equipment decreased by 86% compared to the beginning of the year, and the number of grid connection line faults decreased by 29% year-on-year[143]. - The company implemented a series of management measures to strengthen power limitation control, maintaining a low level of power limitation throughout the year[144]. - The company focused on digital transformation in production, establishing a digital sharing platform and achieving full data collection of equipment[143]. Challenges and Risks - The company is facing increased investment risks due to ecological protection regulations that may lead to the clearance of existing compliant projects[141]. - The increase in maintenance costs and impairment provisions in the wind power segment affected profit growth despite revenue increases[194].

Financial Performance - For the six months ended June 30, 2020, the company reported consolidated operating revenue of RMB 14.22 billion, an increase of 1.3% compared to RMB 14.04 billion for the same period in 2019[15]. - The company's profit before tax for the same period was RMB 4.59 billion, reflecting a growth of 4.8% from RMB 4.38 billion in 2019[23]. - Net profit attributable to equity holders of the company was RMB 3.33 billion, up 3.8% from RMB 3.21 billion in the previous year[23]. - Basic earnings per share increased to RMB 0.3994, compared to RMB 0.3841 in the same period last year[23]. - Operating profit for the first half of 2020 was RMB 6.338 billion, an increase of 3.6% from RMB 6.116 billion in the same period of 2019[76]. - The group’s net profit was RMB 3.776 billion, an increase of 4.0% compared to RMB 3.632 billion in the same period of 2019[81]. - The profit attributable to equity holders of the company was RMB 3,209,720,000, representing an increase of 4.0% from RMB 3,086,841,000 in the previous year[146]. - The company reported a net profit margin of approximately 5.9% for the first half of 2020, compared to 6.1% in the same period of 2019, showing a slight decline[155]. Revenue and Sales - The wind power segment generated RMB 10.601 billion in sales and other income, a 6.9% increase from RMB 9.915 billion in the same period of 2019[50]. - Revenue from wind power sales reached RMB 10,587,582 thousand, while thermal power sales amounted to RMB 3,329,936 thousand, contributing significantly to the overall revenue[177]. - The total revenue for the first half of 2020 was RMB 14,497,768, an increase from RMB 14,286,991 in the same period of 2019, representing a growth of approximately 1.5%[175]. - The income from the wind power segment in the first half of 2020 was RMB 10.714 billion, an increase of 7.9% from RMB 9.931 billion in the same period of 2019[85]. Assets and Liabilities - Total assets as of June 30, 2020, amounted to RMB 165.58 billion, an increase from RMB 156.80 billion at the end of 2019[24]. - The company's total liabilities were RMB 102.46 billion, compared to RMB 96.15 billion at the end of 2019, resulting in a debt-to-equity ratio of 0.94[25]. - As of June 30, 2020, the company's net assets attributable to equity holders were RMB 54.88 billion, up from RMB 52.92 billion at the end of 2019[25]. - Current assets as of June 30, 2020, were RMB 29.649 billion, an increase of RMB 6.620 billion from RMB 23.029 billion as of December 31, 2019[98]. - Total current liabilities increased to RMB 56.476 billion as of June 30, 2020, from RMB 43.538 billion as of December 31, 2019, marking a rise of 29.7%[148]. Operational Highlights - The company noted a 10.9% year-on-year increase in wind power generation to 237.9 billion kWh during the first half of 2020[26]. - The total installed capacity of power plants in China reached 1,936.22 GW, a year-on-year increase of 5.3%, with grid-connected wind power capacity growing by 12.4% to 216.59 GW[26]. - The total electricity generation for the first half of 2020 was 26.925 billion kWh, with wind power generation accounting for 22.772 billion kWh, representing a year-on-year increase of 6.19%[36]. - The average utilization hours for wind power in the first half of 2020 was 1,187 hours, an increase of 15 hours compared to the same period in 2019, and 64 hours higher than the industry average[36]. Investments and Projects - The company signed new wind and solar development agreements totaling 13,115 MW in the first half of 2020, significantly exceeding the previous year's level, with 6,220 MW for wind and 6,895 MW for solar[41]. - The company added 4 new wind projects with a total installed capacity of 193.5 MW in the first half of 2020, bringing the total installed capacity to 22,350.5 MW, including 20,225.5 MW for wind power[43]. - Capital expenditures for the first half of 2020 were RMB 6.842 billion, a significant increase of 103.2% from RMB 3.367 billion in the same period of 2019, primarily for wind power project construction[104]. Cost Management - In the first half of 2020, the group's operating expenses were RMB 8.303 billion, a decrease of 0.9% compared to RMB 8.377 billion in the same period of 2019[56]. - Coal consumption costs decreased by 19.6% to RMB 0.862 billion in the first half of 2020, down from RMB 1.072 billion in the same period of 2019[60]. - Employee costs rose by 5.4% to RMB 0.900 billion in the first half of 2020, compared to RMB 0.854 billion in the same period of 2019[66]. Corporate Governance - The company is focused on enhancing corporate governance to create shareholder value, adhering to the corporate governance code[117]. - The audit committee has reviewed and confirmed the interim results announcement for the six months ended June 30, 2020[123]. - The company appointed new board members and committee members effective February 28, 2020, to enhance governance and oversight[138]. Market Outlook and Strategy - The company highlighted ongoing government policies promoting energy storage technology and the integration of renewable energy, indicating a positive outlook for the sector[27]. - The company is committed to developing large-scale projects in solar and offshore energy, ensuring high-quality completion of production tasks[114]. - The group aims to strengthen its market presence in both domestic and international markets while focusing on high-quality sustainable development in the second half of 2020[111].

Financial Performance - In 2019, Longyuan Power achieved a total operating revenue of RMB 27.541 billion, representing a year-on-year growth of 4.4%[9]. - The net profit attributable to equity holders of the company was RMB 4.567 billion, an increase of 9.6% compared to the previous year[10]. - Longyuan Power's pre-tax profit was RMB 6.450 billion, reflecting a growth of 9.4% year-on-year[5]. - The company's revenue for 2019 was RMB 27,540.63 million, an increase from RMB 26,387.92 million in 2018, representing a year-on-year growth of approximately 4.4%[30]. - The net profit attributable to the company's equity holders for 2019 was RMB 4,566.79 million, up from RMB 4,165.81 million in 2018, reflecting a growth of about 9.6%[30]. - The earnings per share for 2019 was RMB 53.82, compared to RMB 48.83 in 2018, indicating an increase of approximately 10.2%[21]. - The company's net profit for 2019 was RMB 5.32 billion, an increase of 8.1% from RMB 4.92 billion in 2018; the net profit attributable to equity holders was RMB 4.57 billion, up 9.6% from RMB 4.17 billion in 2018[110]. - The wind power segment's operating income in 2019 was RMB 190.99 billion, a 3.7% increase from RMB 184.24 billion in 2018, driven by increased sales volume[140]. - The thermal power segment's operating income for 2019 was RMB 77.84 billion, a 6.4% increase from RMB 73.14 billion in 2018[142]. Operational Capacity and Growth - The company added 1,113 MW of new wind power capacity, bringing the total installed capacity to over 20,000 MW, maintaining its leading position among global wind power operators[4]. - The company completed resource reserves of 13.60 GW, marking a new high during the 13th Five-Year Plan period[4]. - By the end of 2019, the company's total installed capacity reached 22,157 MW, with wind power accounting for 20,032 MW, maintaining a leading position in the industry[12]. - The total installed capacity of the wind farms increased to 20,032.04 MW in 2019, representing a growth of 5.88% compared to 18,918.84 MW in 2018[104]. - The company achieved a total electricity generation of 50.736 billion kWh in 2019, with wind power generation accounting for 40.732 billion kWh, representing a year-on-year increase of 3.01%[96]. - The company added 14 new wind power projects in 2019, with a total installed capacity of 1,113 MW, including 152 MW from offshore wind projects[103]. Strategic Initiatives and Innovations - The company is committed to enhancing its strategic planning and innovation-driven development to build a world-class renewable energy company[5]. - The company is focusing on the construction of intelligent wind farms, with the Anhui Longhu Wind Farm being recognized as a national model for intelligent wind farm construction[15]. - The company is exploring new technologies and innovations in renewable energy to improve efficiency and sustainability[34]. - The company aims to increase its renewable energy capacity in response to growing market demand and government policies supporting clean energy[34]. - The company is actively pursuing technological advancements in renewable energy, with ongoing research and development initiatives in wind and solar technologies[48]. Safety and Environmental Management - Longyuan Power conducted over 70 safety training sessions and more than 100 safety emergency drills to enhance safety management[8]. - The company maintained a stable safety and quality situation in engineering construction, with no major accidents reported in 2019[102]. - Environmental protection efforts were strengthened, with 116 environmental protection projects completed nationwide, promoting sustainable development[103]. - The company adheres to national environmental regulations and has not violated any environmental laws in 2019[187]. Market Expansion and International Projects - The company has expanded its overseas business, with projects in Ukraine including a 76.5 MW wind power project and a 90 MW solar power project[12]. - The company successfully acquired the Ukraine Yuzhny wind power project with a planned capacity of 76.5 MW, marking its first investment in wind power in Europe[86]. - The overseas project management showed progress, with the cumulative power generation of the Canadian project reaching 286 GWh and the South African project generating 783 GWh in 2019[109]. - The company is actively expanding its market presence, with projects in various provinces and regions, including Xinjiang, Fujian, and Jiangsu[33]. Financial Position and Investments - The company’s total assets at year-end amounted to RMB 156.803 billion, with net assets of RMB 60.655 billion, and a net debt-to-equity ratio of 55.54%[10]. - The net debt-to-equity ratio as of December 31, 2019, was 55.54%, a decrease of 0.64 percentage points from 56.18% in 2018, due to higher retained earnings[164]. - The company issued seven short-term financing bonds and three medium-term notes in 2019, optimizing its financing structure[106]. - The company had pledged assets worth RMB 2.612 billion to secure general bank financing and bonds totaling RMB 14.564 billion[165]. Corporate Governance and Compliance - The company has established a compliance management system to ensure adherence to various laws and regulations[185]. - The board of directors includes key personnel such as the chairman and executive director appointed on September 24, 2019, and the general manager appointed on November 15, 2019[199]. - The company has seen changes in its supervisory board, with new appointments and resignations noted, including the chairman of the supervisory board appointed on December 30, 2019[199]. Shareholder Relations and Dividends - The company plans to distribute a final cash dividend of RMB 0.1076 per share for the year ended December 31, 2019, subject to shareholder approval[193]. - The company emphasizes a profit distribution policy aimed at maximizing shareholder value and providing stable returns[190]. - The company will allocate 10% of the annual after-tax profit to statutory reserves before distributing dividends[191].