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 - 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].