Financial Performance - The operating revenue for the year ended December 31, 2024, was RMB 21.372 billion, an increase of 5.38% compared to 2023[4]. - The pre-tax profit for the same period was RMB 2.347 billion, a decrease of 30.33% year-on-year[4]. - The net profit attributable to shareholders was RMB 1.672 billion, down 24.24% from 2023[4]. - The earnings per share (EPS) was RMB 0.40, reflecting a decline of 21.57% compared to the previous year[4]. - The revenue from the wind and photovoltaic sector was RMB 6.044 billion, a year-on-year decrease of 3.20%, accounting for 28.28% of the group's total revenue[1]. - The revenue from the natural gas sector was RMB 15.318 billion, a year-on-year increase of 9.20%, making up 71.67% of the group's total revenue[2]. - The company reported a total profit of RMB 2.347 billion for the year, a decrease of 30.33% year-on-year, and a net profit of RMB 1.900 billion, down 30.50%[21]. - The total comprehensive income for 2024 was RMB 1,900,360,755.72, a decrease of 30.5% from RMB 2,728,690,063.51 in 2023[159]. - The net profit attributable to the parent company's shareholders for 2024 is RMB 1,672,367,020.97, a decrease from RMB 2,207,473,530.19 in 2023, representing a decline of approximately 24.2%[158]. Assets and Liabilities - The total assets of the group amounted to RMB 84.016 billion as of December 31, 2024[5]. - Total liabilities as of December 31, 2024, are RMB 56,903,738,159.25, up from RMB 52,275,823,528.51 in 2023, indicating an increase of about 8.0%[156]. - The company's cash and cash equivalents decreased to RMB 3,056,262,802.26 from RMB 3,420,053,078.91 in 2023, a decline of approximately 10.7%[155]. - The company's total liabilities exceeded total assets by approximately RMB 8.177 billion, indicating potential liquidity concerns[179]. - The company's interest-bearing debt decreased from RMB 41.01 billion to RMB 34.60 billion, representing a year-on-year decline of 15.63%[128]. Operational Highlights - The group added 559.6 MW of new wind power capacity during the year, bringing the total managed capacity to 7,085.45 MW[11]. - The average utilization hours of the group's wind farms were 2,226 hours, a decrease of 193 hours from the previous year[12]. - The group achieved a total wind power generation of 13.908 billion kWh, a decrease of 1.23% year-on-year[12]. - The company completed the construction of 12 units at the Hebei Fengning pumped storage power station project, with a total designed capacity of 3,600 megawatts[17]. - The company has accumulated effective approved wind power project capacity of 19,681.25 MW across 26 provinces[13]. Natural Gas Business - The total natural gas sales volume for the reporting period was 5.888 billion cubic meters, an increase of 15.13% year-on-year, with wholesale gas volume at 2.012 billion cubic meters (up 2.54%) and retail gas volume at 1.938 billion cubic meters (down 3.09%)[14]. - The net profit from the natural gas business was RMB 478 million, a decrease of 49.50% year-on-year, primarily due to a decline in the unit gross profit of natural gas[22]. - The company achieved a total operating pipeline of 9,850.31 kilometers, including 1,546.81 kilometers of long-distance pipelines and 8,303.5 kilometers of urban gas pipelines, with 108.74 kilometers of new pipelines added in 2024[15]. Research and Development - The total R&D expenditure amounted to RMB 390.05 million, accounting for 1.83% of the operating revenue[79]. - The company has accumulated 72 authorized invention patents and 380 utility model patents as of December 31, 2024[20]. - Research and development expenses for 2024 are RMB 376,608,371.90, slightly up from RMB 371,586,463.46 in 2023, indicating a focus on innovation[158]. Market Strategy and Future Plans - The company plans to gradually divest its existing photovoltaic business to focus resources on wind power generation and natural gas-related industries[17]. - The company is actively pursuing technological innovation and digital transformation to improve operational efficiency and management capabilities[58]. - The company aims to leverage the "two-part" electricity pricing policy for gas power plants in Hebei Province, expediting the construction and operation of approved gas turbine projects while enhancing gas supply network planning[105]. - The company is actively expanding its hydrogen energy industry chain, aiming to integrate wind power resources into hydrogen production and utilization, with a focus on developing green hydrogen projects[106]. - The company plans to enhance its overseas business layout by securing high-quality upstream gas sources and expanding international LNG trade, utilizing flexible financing policies[107]. Financial Management - Capital expenditures for the period were RMB 6.382 billion, an increase of 3.82% from RMB 6.147 billion in the previous year[7]. - The debt-to-asset ratio was 67.73%, an increase of 1.57 percentage points from 66.16% at the end of 2023[9]. - The company is focused on maintaining low-cost financing through various channels, including bond issuance and policy loans, to support project investments[119]. - The company has granted 18.6 million A-shares at a price of RMB 4.10 per share to 225 eligible participants under its 2023 A-share restricted stock incentive plan[124]. - The company raised a total of RMB 4,545,055,183.47 through non-public A-share issuance, with RMB 119,266,226.71 utilized by the end of the reporting period[126].

（一）会计师事务所基本情况 安永华明于 1992 年 9 月成立，2012 年 8 月完成本土化 转制，从一家中外合作的有限责任制事务所转制为特殊普通 合伙制事务所。安永华明总部设在北京，注册地址为北京市 东城区东长安街 1 号东方广场安永大楼 17 层 01-12 室。截 至 2024 年末拥有合伙人 251 人。首席合伙人为毛鞍宁先生。 安永华明一直以来注重人才培养，截至 2024 年末拥有执业 注册会计师逾 1,700 人，其中拥有证券相关业务服务经验的 执业注册会计师超过 1,500 人。 安永华明 2023 年度经审计的业务总收入人民币 59.55 亿元，其中，审计业务收入人民币 55.85 亿元，证券业务收 入人民币 24.38 亿元。2023 年度 A 股上市公司年报审计客户 共计 137 家，收费总额人民币 9.05 亿元人民币。这些上市 公司主要行业涉及制造业、金融业、批发和零售业、采矿业、 信息传输、软件和信息技术服务业、租赁和商务服务业等。 新天绿色能源股份有限公司 董事会审计委员会对会计师事务所 2024 年度履行监督职责情况报告 根据《中华人民共和国公司法》《中华人民共和国证券 法》 ...

（二）募集资金使用情况和结余情况 截至 2024 年 12 月 31 日，公司非公开发行人民币普通股（A 股）募集资金 使用及结存情况如下表： | 项目 | 金额（人民币元） | | --- | --- | | 于2021年12月29日募集资金净账户初始金额 | 4,549,204,408.70 | | 减：直接投入募集资金投资项目 | 2,809,627,361.69 | | 减：募集资金置换 | 288,478,759.47 | | 1 | | 中德证券有限责任公司关于 新天绿色能源股份有限公司 2024年度募集资金存放与使用情况的专项核查报告 中德证券有限责任公司（以下简称"中德证券"或"保荐机构"）作为新天绿色 能源股份有限公司（以下简称"新天绿能"或"公司"）非公开发行A股股票项目的 保荐机构，根据《上市公司监管指引第2号——上市公司募集资金管理和使用的 监管要求（2022年修订）》（证监会公告〔2022〕15号）和《上海证券交易所上市 公司自律监管指引第1号——规范运作》以及公司《募集资金专项存储与使用管 理制度》等规定，现将2024年度募集资金存放与实际使用情况专项说明如下： 一、募集资金基本情 ...

Financial Performance - The audited consolidated net profit attributable to the parent company's shareholders for 2024 is RMB 1,672,367,020.97, with undistributed profits amounting to RMB 9,538,353,902.49[6] - The proposed cash dividend is RMB 0.21 per share (including tax), totaling RMB 883,195,545.33 (including tax), which represents 52.81% of the net profit for 2024[6] - The company's operating revenue for 2024 reached CNY 21,372,124,492.83, representing a 5.38% increase compared to CNY 20,281,788,883.53 in 2023[44] - The net profit attributable to shareholders for 2024 was CNY 1,672,367,020.97, a decrease of 24.24% from CNY 2,207,473,530.19 in 2023[44] - The net cash flow from operating activities decreased by 23.31% to CNY 3,720,788,835.78 in 2024 from CNY 4,851,683,579.95 in 2023[44] - The total assets of the company increased by 6.33% to CNY 84,016,482,012.66 at the end of 2024, up from CNY 79,016,593,096.75 at the end of 2023[44] - The basic earnings per share for 2024 was CNY 0.40, down 21.57% from CNY 0.51 in 2023[45] - The weighted average return on equity decreased to 7.82% in 2024, down from 10.70% in 2023, a decline of 2.88 percentage points[45] - The company reported a total profit of CNY 2,346,693,228.19 for 2024, compared to CNY 3,368,358,692.41 in 2023, indicating a significant decrease[47] - The total liabilities increased to CNY 56,903,738,159.25 in 2024 from CNY 52,275,823,528.51 in 2023[48] Operational Highlights - In 2024, the company achieved the highest single-year approved capacity of 6,100.18 MW, with a significant increase in various projects including offshore wind and gas power plants[17] - The company added 3,780.18 MW of wind power capacity, 1,920 MW of gas power capacity, and 400 MW/4 hours of independent energy storage projects[18] - The company completed the construction of 80.27 MW of new wind and solar installations, 108.74 km of new gas pipelines, and 4 new LNG storage tanks[18] - The group’s wind power installed capacity reached 6,587.35 MW, with a management capacity of 7,085.45 MW and an equity capacity of 6,179.16 MW as of December 31, 2024[24] - The group has a total of 1 LNG receiving station, 11 long-distance gas pipelines, and 33 urban gas projects, with a total gas transmission/sales volume of 5.888 billion cubic meters in 2024, of which sales volume was 5.158 billion cubic meters[24] Strategic Initiatives - The company plans to enhance its management capabilities and reduce comprehensive funding costs significantly by the end of the period[19] - In 2025, the company aims to focus on key projects to stimulate new momentum in the green electricity industry, particularly in regions with favorable wind resources[20] - The company intends to accelerate business integration to achieve breakthroughs in the gas market, improving market development efficiency and penetration rates[20] - The company will enhance internal governance to release new dividends, focusing on refined management and talent selection mechanisms[20] - The company is committed to strengthening its safety system and establishing new standards for safety governance[20] Market and Industry Trends - The company expects a 4.2% increase in total energy consumption in 2024, with a notable shift towards non-fossil energy sources[61] - The wind power installed capacity in China grew by 18.0% year-on-year, reaching approximately 520 GW by the end of 2024[62] - The company is actively seeking overseas investment opportunities in renewable energy projects, indicating a strategic focus on market expansion[24] - The company is strategically positioning itself to capitalize on the growing demand for clean energy solutions in response to global carbon neutrality goals[138] Governance and Compliance - The board of directors consists of 9 members, including 4 non-executive directors, 2 executive directors, and 3 independent non-executive directors, ensuring compliance with Hong Kong listing rules[165] - The company has established a modern corporate governance structure, adhering to the Corporate Governance Code and ensuring the independence of its non-executive directors[165] - The company signed a new "Avoiding Competition Agreement" with its controlling shareholder, Hebei Construction Investment, on October 30, 2024, to ensure no direct or indirect competition in core business areas such as wind power and natural gas sales[174] - The company has implemented measures to maintain independence from its controlling shareholder, ensuring no significant impact on its operations from related party transactions[172] Research and Development - The company has accumulated 72 authorized invention patents and 380 utility model patents as of December 31, 2024, along with 177 software copyrights[74] - Research and development expenses totaled RMB 377 million, representing 1.83% of total revenue, with capitalized R&D accounting for 3.45%[120] - The company is actively pursuing technological innovation and digital transformation, aiming to enhance operational efficiency and management capabilities through smart production platforms[101] Risks and Challenges - The company anticipates risks in wind power operations due to uncertain wind resources and potential electricity output limitations caused by lagging grid infrastructure[155] - The company faces risks related to natural gas pricing reforms, which may lead to reduced pipeline transportation and urban gas fees, impacting profitability[157] - The company is closely monitoring interest rate risks, seeking optimal loan rates and exploring financing options such as bond issuance and accounts receivable securitization to maintain a smooth funding chain[160] - The company faces foreign exchange risk due to LNG imports priced in USD while domestic sales are in RMB, leading to uncertainty in procurement costs[161] Executive Compensation - The company has implemented various strategies to manage executive compensation effectively, reflecting changes in performance and market conditions[188] - The total pre-tax salary paid to Ms. Fan in 2024 was RMB 748,328.47, down from RMB 1,149,242.04 in 2023, indicating a decrease of approximately 34.9%[195] - The performance-related bonus for Ms. Fan in 2024 was RMB 516,181.70, slightly down from RMB 527,689.46 in 2023, a decrease of about 2.9%[195] - The total number of shares held by Mr. Cao Xin, Mr. Mei Chunxiao, and Mr. Ban Zefeng at the beginning of the year was 50,000 H shares each[188]

新天绿能:2024年报净利润16.72亿 同比下降24.24% 一、主要会计数据和财务指标 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.4000 | 0.5100 | -21.57 | 0.5300 | | 每股净资产（元） | 0 | 4.98 | -100 | 4.64 | | 每股公积金(元) | 0 | 1.58 | -100 | 1.57 | | 每股未分配利润(元) | | 2.14 | -100 | 1.87 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 213.72 | 202.82 | 5.37 | 185.61 | | 净利润(亿元) | 16.72 | 22.07 | -24.24 | 22.93 | | 净资产收益率(%) | 7.82 | 10.70 | -26.92 | 11.97 | | 名称 | 持有数量( ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 本公司董事會（「董事會」）謹此宣佈，臨時股東大會已於2025年3月12日（星期三）上午9時30分於 中華人民共和國（「中國」）河北省石家莊市雲瑞國賓酒店五樓會議室舉行。所提呈之決議案已獲 正式通過。 於臨時股東大會當日，本公司共有4,205,693,073股股份，其中包括2,366,688,677股A股 及1,839,004,396股H股。出席臨時股東大會的本公司股東（「股東」）及其授權代表共持有 2,404,893,296股股份，佔本公司有表決權股份總數的57.181854%。 於董事作出一切合理查詢後所深知、盡悉及確信，河北建設投資集團有限責任公司、曹欣博 士、李連平博士、譚建鑫先生及彼等各自的聯繫人（合共持有本公司2,059,291,253股股份）須就 臨時股東大會上提呈的決議案迴避投票，而其所持有之股份數目不計入該決議案的有效表決票 股份總數。因此，合共持有本公司2,146,401,820股股份 ...

Investment Rating - The report assigns a rating of "Buy" to the company with a target price of HKD 5.00 [1][10]. Core Views - The company possesses excellent wind power asset resources, and the profitability of its existing and newly commissioned wind power units is expected to exceed expectations due to favorable policies in the main installation areas [3][10]. - The market perceives that the company's wind power assets lack unique competitive advantages, but the report argues that the company's wind power projects have significant advantages in utilization hours and stable on-grid electricity prices [11][10]. Summary by Sections Financial Summary - The company’s revenue is projected to grow from RMB 219 billion in 2024 to RMB 304 billion in 2026, with a compound annual growth rate (CAGR) of 7.8% to 13.5% [13]. - The expected earnings per share (EPS) for 2024, 2025, and 2026 are RMB 0.48, RMB 0.66, and RMB 0.72 respectively [13][49]. Wind Power Asset Quality - The company’s wind power assets are primarily located in Hebei Province, with a total operational capacity of 636,000 kW, accounting for 98.1% of its total operational capacity [51]. - The average utilization hours for the company’s wind power projects from 2019 to 2023 were 2,459 hours, significantly higher than the provincial and national averages [59][11]. Cash Flow and Dividend Policy - The company has maintained a strong cash flow, with a projected dividend per share (DPS) of RMB 0.26 for 2025, corresponding to a dividend yield of 7.9% based on the current stock price [49][42]. - The company has consistently increased its dividend payout ratio, reaching 40.8% in 2023 [42][48]. Natural Gas Business - The company’s natural gas sales are expected to grow significantly, with projected sales volumes of 51.6 billion cubic meters in 2024, increasing to 74.5 billion cubic meters by 2026 [13]. - The natural gas segment has shown robust growth, contributing to the overall revenue increase [27]. Market Position and Strategy - The company is positioned as a key player in the clean energy sector in Hebei, focusing on wind and natural gas operations while planning to divest its solar assets [25][21]. - The company benefits from the support of the Hebei provincial government and has a strong market presence in the region [23][21].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 CHINA SUNTIEN GREEN ENERGY CORPORATION LIMITED* 新天綠色能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00956） 海外監管公告 本公告乃由新天綠色能源股份有限公司（「本公司」）根據《香港聯合交易所有限公司證券上市規則》第 13.10B條作出。 茲載列本公司於上海證券交易所網站刊發之《北京市嘉源律師事務所關於新天綠色能源股份有限公司 2025年第一次臨時股東大會的法律意見書》，僅供參閱。 承董事會命 新天綠色能源股份有限公司 譚建鑫 執行董事及总裁 中國河北省石家莊市，2025年3月12日 於本公告日期，本公司非執行董事為曹欣博士、李連平博士、秦剛先生、王濤先生及張旭蕾女士； 本公司執行董事為譚建鑫先生；以及本公司獨立非執行董事為郭英軍先生、陳奕斌先生及林濤博 士。 * 僅供識別 北京市嘉源律师事务所 关于新天绿色能源股份有限公 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 CHINA SUNTIEN GREEN ENERGY CORPORATION LIMITED* 新天綠色能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00956） 譚建鑫 執行董事及總裁 中國河北省石家莊市，2025年3月12日 於本公告日期，本公司非執行董事為曹欣博士、李連平博士、秦剛先生、王濤先生及張旭蕾女士； 本公司執行董事為譚建鑫先生；以及本公司獨立非執行董事為郭英軍先生、陳奕斌先生及林濤博 士。 * 僅供識別 董事會召開日期 新天綠色能源股份有限公司（「本公司」）的董事會（「董事會」）特此通知，將於2025年3月25日（星期二） 上午9時30分在中華人民共和國（「中國」）河北省石家莊市舉行董事會會議，藉以（其中包括）考慮和批 准本公司及其附屬公司截至2024年12月31日止年度的業績以及考慮派發年度股息（如有）。 承董事會命 新天綠色能源股份有限公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 CHINA SUNTIEN GREEN ENERGY CORPORATION LIMITED* 新天綠色能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00956） 海外監管公告 本公告乃由新天綠色能源股份有限公司（「本公司」）根據《香港聯合交易所有限公司證券上市規則》第 13.10B條作出。 執行董事及總裁 中國河北省石家莊市，2025年3月11日 於本公告日期，本公司非執行董事為曹欣博士、李連平博士、秦剛先生、王濤先生及張旭蕾女士； 本公司執行董事為譚建鑫先生；以及本公司獨立非執行董事為郭英軍先生、陳奕斌先生及林濤 博士。 茲載列本公司於上海證券交易所網站刊發之《新天綠色能源股份有限公司關於2021年非公開發行A股 股票部分募投項目結項並註銷募集資金專戶的公告》，僅供參閱。 承董事會命 新天綠色能源股份有限公司 譚建鑫 * 僅供識別 证券代码：600956 证券简称：新天绿 ...