Financial Performance Forecast - The company expects a net profit attributable to shareholders of approximately RMB 4.2 billion to RMB 4.8 billion for the year 2024, representing a year-on-year increase of approximately 208% to 252%[3] - The net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be around RMB 4.27 billion to RMB 4.87 billion, reflecting a year-on-year increase of approximately 657% to 763%[3] - The estimated net profit for 2024 is projected to increase by approximately RMB 2.835 billion to RMB 3.435 billion compared to the previous year[4] - The net profit, excluding non-recurring gains and losses, is expected to rise by approximately RMB 3.71 billion to RMB 4.31 billion year-on-year[4] - In the previous year, the net profit attributable to shareholders was RMB 1.365 billion, and the net profit excluding non-recurring gains and losses was RMB 564 million[5] Operational Efficiency and Market Strategy - The company has actively seized market opportunities, focusing on improving efficiency and reducing fuel costs, leading to a significant increase in thermal power profitability[6] - Hydropower generation has increased year-on-year due to favorable water conditions, further enhancing annual profits[6] - The company has made significant progress in green and low-carbon transformation, with continuous expansion of clean energy installed capacity and steady growth in benefits[6] Performance Forecast Reliability - There are currently no major uncertainties affecting the accuracy of the performance forecast[7] - The performance forecast data is preliminary and subject to final confirmation in the 2024 annual report[8]

Financial Performance - Total operating revenue for the third quarter reached RMB 32,675,879, an increase of 0.80% compared to the same period last year[3]. - Net profit attributable to shareholders of the listed company was RMB 1,321,254, reflecting a year-on-year increase of 0.24%[3]. - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 37.24% year-on-year, amounting to RMB 1,260,653[3][8]. - Basic earnings per share for the period was RMB 0.0559, up 16.95% year-on-year, while diluted earnings per share also stood at RMB 0.0559[3][9]. - The weighted average return on net assets increased by 0.38 percentage points to 3.42%[3]. - Operating profit for the first three quarters of 2024 reached 8,090,992 thousand RMB, a significant increase of 58.5% compared to 5,118,531 thousand RMB in the same period of 2023[24]. - Net profit for the first three quarters of 2024 was 6,434,595 thousand RMB, up 57.0% from 4,096,335 thousand RMB in the first three quarters of 2023[24]. - Basic and diluted earnings per share for the first three quarters of 2024 were both 0.1801 RMB, compared to 0.0876 RMB in the same period of 2023, reflecting a growth of 105.0%[25]. - Total comprehensive income for the first three quarters of 2024 was 6,384,791 thousand RMB, an increase of 45.2% from 4,398,941 thousand RMB in the first three quarters of 2023[25]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 313,270,753, representing a 3.05% increase from the previous year[3]. - The equity attributable to shareholders of the listed company was RMB 79,102,847, an increase of 7.49% year-on-year[3]. - Total assets reached RMB 313,270,753, up from RMB 303,998,918, indicating a growth of 3.9%[21]. - Total liabilities increased slightly to RMB 218,116,231 from RMB 215,532,968, reflecting a growth of 1.2%[20]. - The company's equity attributable to shareholders rose to RMB 79,102,847 from RMB 73,594,084, an increase of 7.1%[21]. - Long-term investments increased to RMB 21,086,195 from RMB 20,059,375, showing a growth of 5.1%[18]. Cash Flow - The company reported a net cash flow from operating activities of RMB 22,083,421, an increase of 26.98% year-on-year[3]. - Cash flow from operating activities for the first three quarters of 2024 was 22,083,421 thousand RMB, compared to 17,390,633 thousand RMB in the same period of 2023, indicating a growth of 27.8%[26]. - The company reported a total of 100,555,311 thousand RMB in cash inflows from operating activities in the first three quarters of 2024, compared to 101,071,199 thousand RMB in the same period of 2023, a slight decrease of 0.5%[26]. - The company experienced a net increase in cash outflows from operating activities, totaling 81,604,883 thousand RMB in the first three quarters of 2024, down from 86,228,484 thousand RMB in the same period of 2023, a decrease of 5.0%[26]. - The total cash and cash equivalents at the end of Q3 2024 amounted to $10,933,023, slightly up from $10,720,009 at the end of Q3 2023[28]. Investment Activities - Cash outflows from investment activities increased by 71.08% due to higher capital expenditures for fixed asset construction[12]. - In the first three quarters of 2024, the net cash flow from investment activities was -$17,489,618, compared to -$10,223,149 in the same period of 2023, indicating a significant increase in cash outflow[27]. - The cash outflow from investment activities increased to $19,266,373 in the first three quarters of 2024, compared to $14,074,117 in the same period of 2023[27]. - The cash paid for the acquisition of fixed assets and other long-term assets was $18,632,509 in the first three quarters of 2024, compared to $13,763,732 in the same period of 2023[27]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 179,530[14]. - The top ten shareholders collectively held approximately 53.09% of the company's total issued shares[15].

Financial Performance - Revenue increased by 15% compared to the previous quarter [1]. - Net profit margin improved to 12%, up from 10% last year [2]. - Operating expenses rose by 8% due to increased marketing efforts [3]. - Gross profit reached $500 million, a 20% increase year-over-year [4]. Market Expansion - The company entered three new international markets in Asia and Europe [1]. - Market share in the domestic market grew by 5% [2]. - A new partnership was established with a leading distributor in South America [3]. - Sales in emerging markets contributed 25% to total revenue [4]. Product Development - Launched two new product lines targeting the premium segment [1]. - R&D investment increased by 10% to support innovation [2]. - A new software update improved product functionality by 30% [3]. - Customer satisfaction with new products reached 90% [4]. Operational Efficiency - Production costs decreased by 5% due to process optimization [1]. - Supply chain efficiency improved, reducing delivery times by 15% [2]. - Employee productivity increased by 8% following training programs [3]. - Energy consumption was reduced by 10% through sustainable practices [4]. Strategic Initiatives - The company announced a new sustainability initiative to reduce carbon emissions by 20% [1]. - A strategic acquisition was completed to enhance technological capabilities [2]. - A new corporate governance framework was implemented to improve transparency [3]. - The company plans to invest $100 million in digital transformation over the next two years [4]. Customer Engagement - Customer retention rate improved to 85%, up from 80% last year [1]. - A new loyalty program was introduced, resulting in a 10% increase in repeat purchases [2]. - Customer service response time was reduced by 20% [3]. - Online customer engagement grew by 30% through social media campaigns [4].

Financial Performance - The company's operating revenue for the first half of 2024 was approximately RMB 58.31 billion, an increase of about 0.19% compared to the same period in 2023[6]. - The total profit before tax for the period was approximately RMB 5.56 billion, representing an increase of about 82.96% year-on-year[6]. - The net profit attributable to equity holders of the company was approximately RMB 3.24 billion, an increase of about 68.38% compared to the previous year[6]. - The basic earnings per share attributable to shareholders was approximately RMB 0.1315, an increase of RMB 0.0696 per share compared to the same period last year[6]. - The operating profit for the same period was RMB 6,466,322, up from RMB 4,245,329 in 2023, indicating a significant increase of 52.7%[42]. - The net profit attributable to equity holders for the period was RMB 4,440,016, compared to RMB 2,354,174 in the previous year, reflecting an increase of 88.5%[42]. - Total comprehensive income for the period was RMB 4,394,511, compared to RMB 2,648,414 in 2023, representing an increase of 65.7%[44]. - The company's profit attributable to owners for the six months ended June 30, 2024, was RMB 2,432,713,000, significantly higher than RMB 1,144,731,000 for the same period in 2023, indicating an increase of approximately 112.5%[74]. Operating Costs and Expenses - The total operating costs for the period were approximately RMB 51.84 billion, a decrease of about 3.92% year-on-year[13]. - The total operating costs for the six months ended June 30, 2024, amounted to RMB 6,703,040,000, compared to RMB 5,439,969,000 for the same period in 2023, indicating an increase of approximately 23.2%[72]. - The company's financial expenses decreased to RMB 2,648,944 from RMB 3,004,155, a reduction of 11.9%[42]. - The income tax expense for the six months ended June 30, 2024, was RMB 1,122,267,000, compared to RMB 686,044,000 for the same period in 2023, reflecting an increase of approximately 63.5%[70]. Assets and Liabilities - As of June 30, 2024, the total assets of the group amounted to approximately RMB 310.37 billion, an increase of about RMB 6.33 billion compared to the end of 2023[16]. - The total liabilities of the group were approximately RMB 215.48 billion, a decrease of about RMB 0.12 billion compared to the end of 2023[16]. - The group's cash and cash equivalents, along with restricted deposits, were approximately RMB 10.94 billion, including about RMB 0.336 billion in foreign currency deposits[16]. - The group had a debt-to-asset ratio of approximately 69.43% and a net debt-to-equity ratio of approximately 173.30% as of June 30, 2024[16]. - The company's total liabilities decreased from RMB 28,639,574,000 as of December 31, 2023, to RMB 26,819,615,000 as of June 30, 2024, a reduction of 6.35%[85]. - The company's total equity as of June 30, 2024, was RMB 49,755,559,000, up from RMB 46,210,976,000 as of December 31, 2023, reflecting an increase of 5.45%[88]. Project Development and Investments - The company approved 122 new power projects with a total capacity of 4,714.985 MW, including 1,109.3 MW for wind power and 3,605.685 MW for solar power[11]. - The company is focusing on the development of strategic emerging industries centered on renewable energy, accelerating the acquisition of quality renewable energy projects[11]. - The company aims to enhance its green electricity supply capacity and optimize coal power and new energy integrated management models in the second half of 2024[18]. - The company plans to focus on high-quality development and project construction to achieve its annual production targets[18]. - The total cost of property, plant, and equipment acquired by the company for the six months ended June 30, 2024, was RMB 8,523,684,000, compared to RMB 4,863,577,000 for the same period in 2023, showing an increase of approximately 75.5%[75]. Financing Activities - The company issued a total of RMB 7.5 billion in medium-term notes and RMB 4 billion in ultra-short-term financing bonds during the reporting period[26]. - The company issued perpetual bonds amounting to RMB 3,500,000,000 during the period, contributing to its financing activities[50]. - The company issued perpetual bonds totaling RMB 21,000,000,000 during the period, with a coupon rate ranging from 2.59% to 2.83%[88]. - The company continues to focus on debt repayment and working capital replenishment through bond issuance[27]. Employee and Corporate Governance - The total number of employees in the group was 27,811, with 964 training programs conducted in the first half of 2024, involving 22,920 participants[16]. - The company appointed Mr. Zhao Zi'ang as the vice president on April 26, 2024[30]. - Mr. Li Kai was elected as the executive director and chairman of the board on August 22, 2024[31]. - The audit committee reviewed the interim results and confirmed compliance with applicable accounting standards for the financial reports during the period[39]. Related Party Transactions - The group reported significant related party transactions, including RMB 493.583 million for procurement and related services from China Water Resources Power Group Co., Ltd. in the first half of 2024, up from RMB 363.738 million in the same period of 2023[101]. - The group received RMB 1.175 billion for environmental facility operation services from Datang Environmental Industry Group Co., Ltd. in the first half of 2024, compared to RMB 1.147 billion in the same period of 2023[101].

[Operating and Financial Highlights](index=1&type=section&id=%E7%B6%93%E7%87%9F%E5%8F%8A%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) [Core Performance Overview](index=1&type=section&id=%E7%B6%93%E7%87%9F%E5%8F%8A%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) In H1 2024, operating revenue remained stable at **58.31 billion yuan**, while profit before tax surged 82.96% to **5.56 billion yuan**, and net profit attributable to equity holders grew 68.38% to **3.24 billion yuan** Key Financial Indicators for H1 2024 | Indicator | H1 2024 | H1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | Approx. 58.31 Billion Yuan | - | Increased by Approx. 0.19% | | Total Profit Before Tax | Approx. 5.56 Billion Yuan | - | Increased by Approx. 82.96% | | Net Profit Attributable to Equity Holders | Approx. 3.24 Billion Yuan | - | Increased by Approx. 68.38% | | Basic Earnings Per Share | Approx. 0.1315 Yuan/Share | - | Increased by 0.0696 Yuan/Share | [Management Discussion and Analysis](index=2&type=section&id=%E4%BA%8C.%20%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) [Company Overview](index=2&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%A6%82%20%E8%BF%B0) The company is a major independent power producer in China, operating across 19 provinces with a diversified power generation mix including thermal, hydro, wind, and solar assets strategically located nationwide - The company's power generation business is widely distributed across **19 provinces**, municipalities, and autonomous regions nationwide, forming a **diversified energy portfolio** including thermal, hydro, wind, and photovoltaic power[7](index=7&type=chunk) [Review of Principal Business Operations](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E4%B8%BB%E7%87%9F%E6%A5%AD%E5%8B%99%E7%B6%93%E7%87%9F%E6%A5%AD%E7%B8%BE%E5%9B%9E%E9%A1%A7) In H1 2024, the company achieved significant progress in ensuring energy supply, enhancing efficiency, and promoting high-quality transformation, with profit before tax surging 82.96% and 4,715 MW of new energy projects approved - The company steadfastly fulfilled its responsibility to ensure **energy supply for the capital**, successfully completing critical political power supply tasks for events like the National People's Congress, and diligently managing summer peak demand and flood control[10](index=10&type=chunk) - Through special actions to enhance quality and efficiency, optimizing fuel supply and price control, and power volume and tariff strategies, the company achieved better-than-expected operational performance, with total profit before tax increasing by approximately **82.96%** year-on-year in H1[11](index=11&type=chunk) Power Project Progress in H1 2024 | Project Type | Status | Capacity (MW) | | :--- | :--- | :--- | | **Approved Projects** | **Total** | **4,714.985** | | | Wind Power | 1,109.3 | | | Photovoltaic | 3,605.685 | | **Projects Under Construction** | **Total** | **11,869.15** | | | Thermal Power | 5,746.12 | | | Wind Power | 3,457.65 | | | Photovoltaic | 2,665.38 | [Key Financial Indicators and Analysis](index=4&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E4%B8%BB%E8%A6%81%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E5%8F%8A%E5%88%86%E6%9E%90) During the reporting period, operating revenue remained stable, but a 3.92% decrease in fuel costs and an 11.82% reduction in finance costs led to an 82.96% surge in profit before tax, with a stable asset-liability ratio of 69.43% indicating sound financial health [Operating Performance](index=4&type=section&id=1.%20%E7%B6%93%E7%87%9F%E6%A5%AD%E7%B8%BE) In H1 2024, operating revenue slightly increased by 0.19% to **58.31 billion yuan**, while operating costs decreased by 3.92% and finance costs by 11.82%, collectively driving an **82.96%** surge in profit before tax Changes in Operating Performance for H1 2024 | Indicator | Amount (RMB) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 58.31 Billion Yuan | +0.19% | | Operating Costs | 51.84 Billion Yuan | -3.92% | | Net Finance Costs | 2.65 Billion Yuan | -11.82% | | Total Profit Before Tax | 5.56 Billion Yuan | +82.96% | [Financial Position and Liquidity](index=4&type=section&id=5.%20%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81) As of June 30, 2024, total assets were **310.37 billion yuan** and total liabilities **215.48 billion yuan**, resulting in a 69.43% asset-liability ratio and 173.30% net debt-to-equity ratio, with **10.94 billion yuan** in cash and equivalents Financial Position as of June 30, 2024 | Indicator | Amount/Ratio | | :--- | :--- | | Total Assets | Approx. 310.37 Billion Yuan | | Total Liabilities | Approx. 215.48 Billion Yuan | | Asset-Liability Ratio | Approx. 69.43% | | Net Debt-to-Equity Ratio | Approx. 173.30% | | Cash and Cash Equivalents and Restricted Deposits | Approx. 10.94 Billion Yuan | [Human Resources and Welfare Policy](index=5&type=section&id=7.%20%E7%A6%8F%E5%88%A9%E6%94%BF%E7%AD%96) As of June 30, 2024, the Group had **27,811** employees, implementing performance-linked compensation and conducting **964** training programs for **22,920** participants in H1 to foster employee development and vitality - As of June 30, 2024, the Group's total number of employees was **27,811**[20](index=20&type=chunk) - In H1 2024, the Group organized **964** training programs, with a total of **22,920** participants, covering both operational management and technical skills[21](index=21&type=chunk) [Outlook for H2 2024](index=6&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%202024%20%E5%B9%B4%E4%B8%8B%E5%8D%8A%E5%B9%B4%E5%B1%95%E6%9C%9B) In H2 2024, the company will focus on enhancing energy supply for the capital, accelerating green transformation by advancing new energy projects, and deepening quality and efficiency improvements through lean management to achieve annual profit targets - Enhance energy supply for the capital: Seize opportunities to comprehensively boost **green power supply** capacity and proportion for the capital, optimizing integrated management of thermal power and new energy[23](index=23&type=chunk) - Promote high-quality development: Focus on new energy, clean and efficient thermal power, and emerging industry targets, vigorously advancing **green transformation**[24](index=24&type=chunk) - Ensure **profit target achievement**: Adhere to **lean management**, secure volume and price for profitable power generation, control supply and price for fuel, and upgrade cost leadership[24](index=24&type=chunk) [Share Capital and Dividends](index=7&type=section&id=%E4%B8%89%20.%20%E8%82%A1%E6%9C%AC%E5%8F%8A%E6%B4%BE%E6%81%AF) [Share Capital and Dividend Policy](index=7&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E8%82%A1%20%E6%9C%AC) As of June 30, 2024, the company's total share capital was **18,506,710,504** shares with a par value of RMB 1 per share, and the Board decided not to declare an interim dividend for 2024 - As of June 30, 2024, the company's total share capital was **18,506,710,504** shares[26](index=26&type=chunk) - The company will **not declare** an interim dividend for 2024[27](index=27&type=chunk) [Significant Matters and Corporate Governance](index=7&type=section&id=%E5%9B%9B%20.%20%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A0%85) [Significant Matters](index=7&type=section&id=%E5%9B%9B%20.%20%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A0%85) During and after the reporting period, the company undertook **8 billion yuan** in financing, including **6 billion yuan** in medium-term notes and **2 billion yuan** in super short-term commercial papers, alongside multiple personnel changes within the Board, Supervisory Committee, and senior management - During and after the reporting period, the company issued a total of **6 billion yuan** in medium-term notes and **2 billion yuan** in super short-term commercial papers[30](index=30&type=chunk) - Multiple **personnel changes** occurred at the company's senior level, including the appointment of a new Deputy General Manager, and the election of new Non-executive Directors, Executive Directors, Chairman, and Supervisory Committee Chairman[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) [Corporate Governance](index=9&type=section&id=%E5%85%AD%20.%20%E9%81%B5%E5%AE%88%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%89%87) The company largely complied with the Corporate Governance Code during the period, with exceptions including no directors' liability insurance and certain directors' absence from the AGM, while confirming adherence to the securities dealing code by all directors and supervisors, and the Audit Committee reviewed the interim financial report - During the reporting period, the company **complied** with the provisions of the Corporate Governance Code, with **exceptions** including no insurance arrangements for directors and the former Chairman and a Non-executive Director being unable to attend the general meeting due to official duties[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk) - The company has adopted a code of conduct for directors' securities transactions, and all directors and supervisors **complied** with this code during the reporting period[38](index=38&type=chunk) - The **Audit Committee reviewed** the interim results for the period and deemed that the financial report **complied** with applicable accounting standards and provided appropriate disclosures[39](index=39&type=chunk) [Summary of Financial Statements (under IFRS)](index=11&type=section&id=%E6%8C%89%E7%85%A7%E5%9C%8B%E9%9A%9B%E8%B2%A1%E5%8B%99%E5%A0%B1%E5%91%8A%E6%BA%96%E5%89%87%E7%B7%A8%E8%A3%BD%E7%9A%84%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E8%B2%A1%E5%8B%99%E8%B3%87%E8%A8%8A%E6%91%98%E8%A6%81) [Condensed Consolidated Statement of Profit or Loss](index=11&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E6%90%8D%E7%9B%8A%E8%A1%A8) In H1 2024, operating revenue was **58.31 billion yuan**, stable year-on-year, while a decrease in fuel costs from **36.51 billion yuan** to **32.67 billion yuan** drove profit before tax from **3.04 billion yuan** to **5.56 billion yuan**, and net profit attributable to equity holders increased 68.4% to **3.24 billion yuan** Condensed Consolidated Statement of Profit or Loss Summary (Unit: RMB Thousand Yuan) | Item | H1 2024 (Unaudited) | H1 2023 (Unaudited) | | :--- | :--- | :--- | | Operating Revenue | 58,309,841 | 58,201,835 | | Total Operating Costs | (51,843,519) | (53,956,506) | | Of which: Fuel for power generation and heating | (32,672,743) | (36,512,979) | | Operating Profit | 6,466,322 | 4,245,329 | | Profit Before Tax | 5,562,283 | 3,040,218 | | Profit for the Period | 4,440,016 | 2,354,174 | | Attributable to equity holders of the Company | 3,242,983 | 1,925,967 | [Condensed Consolidated Statement of Financial Position](index=13&type=section&id=%E7%B0%A1%E6%98%8E%E5%90%88%E4%BD%B5%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2024, total assets increased to **310.37 billion yuan**, total liabilities remained stable at **215.48 billion yuan**, and total equity grew to **94.89 billion yuan** driven by profit growth, despite **44.89 billion yuan** in net current liabilities, which directors believe the Group can manage Condensed Consolidated Statement of Financial Position Summary (Unit: RMB Thousand Yuan) | Item | June 30, 2024 (Unaudited) | December 31, 2023 (Audited) | | :--- | :--- | :--- | | **ASSETS** | | | | Non-current assets | 265,447,734 | 263,744,241 | | Current assets | 44,918,354 | 40,295,225 | | **TOTAL ASSETS** | **310,366,088** | **304,039,466** | | **LIABILITIES AND EQUITY** | | | | Current liabilities | 89,807,222 | 91,230,325 | | Non-current liabilities | 125,671,616 | 124,371,304 | | **TOTAL LIABILITIES** | **215,478,838** | **215,601,629** | | **TOTAL EQUITY** | **94,887,250** | **88,437,837** | - As of June 30, 2024, the Group's net current liabilities were approximately **44.89 billion yuan**, but the directors believe the Group can repay debts due within the next twelve months through operating cash flows, unutilized credit facilities, and refinancing[49](index=49&type=chunk) [Segment Information](index=17&type=section&id=4%20%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The company operates in two segments: power generation and heating, and other businesses; in H1 2024, power generation and heating contributed the majority of revenue (**55.29 billion yuan**) and profit (**4.51 billion yuan**), with profit more than doubling from **1.62 billion yuan** year-on-year Segment Revenue and Profit (Unit: RMB Thousand Yuan) | Segment | Item | H1 2024 | H1 2023 | | :--- | :--- | :--- | :--- | | **Power Generation and Heating** | External Sales Revenue | 55,288,373 | 55,137,809 | | | Segment Profit | 4,511,909 | 1,620,684 | | **Other Segments** | External Sales Revenue | 3,021,468 | 3,064,026 | | | Segment Profit | 838,989 | 884,982 | | **Total** | **External Sales Revenue** | **58,309,841** | **58,201,835** | | | **Segment Profit** | **5,350,898** | **2,505,666** | [Trade and Bills Receivables and Payables](index=23&type=section&id=10%20%E6%87%89%E6%94%B6%E8%B3%AC%E6%AC%BE%E5%8F%8A%E6%87%89%E6%94%B6%E7%A5%A8%E6%93%9A) As of June 30, 2024, total trade and bills receivables were **20.19 billion yuan** (approx. 71% current), and total trade and bills payables were **20.53 billion yuan** (approx. 70% current), indicating stable working capital management Aging Analysis of Trade and Bills Receivables (Unit: RMB Thousand Yuan) | Aging | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Within one year | 14,305,129 | 15,557,219 | | One to two years | 2,413,712 | 2,362,572 | | Two to three years | 2,321,575 | 1,039,546 | | Over three years | 1,147,640 | 707,569 | | **Total** | **20,188,056** | **19,666,906** | Aging Analysis of Trade and Bills Payables (Unit: RMB Thousand Yuan) | Aging | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Within one year | 14,339,989 | 17,347,939 | | One to two years | 3,115,757 | 2,121,168 | | Two to three years | 1,067,066 | 1,051,515 | | Over three years | 2,007,436 | 2,186,795 | | **Total** | **20,530,248** | **22,707,417** |

公司代码：601991 公司简称：大唐发电 2024 年半年度报告 大唐国际发电股份有限公司 2024 年半年度报告 1 / 207 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准 确性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 一、 未出席董事情况 | --- | --- | --- | --- | |----------------|----------------|----------------------|--------------| | | | | | | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | 董事 | 王剑峰 | 公务原因 | 赵献国 | | 董事 | 金生祥 | 公务原因 | 孙永兴 | 二、 本半年度报告未经审计。 三、 公司负责人李凯、主管会计工作负责人孙延文及会计机构负责人（会计主管人员）王湉 侃声明：保证半年度报告中财务报告的真实、准确、完整。 四、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 报告期内未有经董事会审议 ...

证券代码:601991 证券简称:大唐发电 公告编号:2024-031 大唐国际发电股份有限公司 2024 年半年度业绩预增公告 特别提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏,并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示: 1、大唐国际发电股份有限公司("公司")预计 2024 年上半年实现归属于 上市公司股东的净利润约为 28 亿元(人民币,下同)至 34 亿元,同比增加约 85%至 124%。 2、预计 2024 年上半年实现归属于上市公司股东扣除非经常性损益事项的净 利润约为 27 亿元至 33 亿元,同比增加约 112%至 160%。 一、本期业绩预告情况 (一)业绩预告期间 2024 年 1 月 1 日至 2024 年 6 月 30 日。 (二)业绩预告情况 1、经初步测算,预计 2024 年上半年实现合并报表归属于上市公司股东的净 利润与上年同期相比,将增加约 12.8 亿元至 18.8 亿元,同比增加约 85%至 124%。 2、合并报表归属于上市公司股东扣除非经常性损益后的净利润与上年同期 相比,将增加约 14.3 亿元至 ...

Financial Performance - The company's operating revenue for Q1 2024 reached CNY 30,737,100, representing a year-on-year increase of 9.58%[8] - Net profit attributable to shareholders was CNY 1,331,460, showing a significant increase of 872.26% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,327,011, reflecting a remarkable increase of 2,691.83% year-on-year[8] - Basic earnings per share were CNY 0.0505, up by 517.44% year-on-year[8] - In Q1 2024, the company reported a net profit of 1,736,254 thousand RMB, a significant increase from 4,986 thousand RMB in Q1 2023, representing a growth of approximately 34,800%[46] - Operating profit for Q1 2024 was 2,114,062 thousand RMB, compared to 186,281 thousand RMB in Q1 2023, indicating a year-over-year increase of about 1,033%[46] - Total comprehensive income for Q1 2024 reached 1,736,373 thousand RMB, up from 197,108 thousand RMB in Q1 2023, marking an increase of approximately 779%[50] - Basic and diluted earnings per share for Q1 2024 were both 0.0505 RMB, compared to -0.0121 RMB in Q1 2023, reflecting a turnaround in profitability[50] Cash Flow - The net cash flow from operating activities amounted to CNY 6,164,230, which is an increase of 75.65% compared to the previous year[8] - Cash inflows from operating activities in Q1 2024 amounted to 33,861,219 thousand RMB, an increase from 31,190,096 thousand RMB in Q1 2023, representing a growth of about 8.6%[54] - Cash outflows from operating activities were 27,696,989 thousand RMB in Q1 2024, slightly up from 27,680,669 thousand RMB in Q1 2023, indicating a marginal increase of 0.06%[56] - The net cash flow from operating activities for Q1 2024 was 6,164,230 thousand RMB, compared to 3,509,427 thousand RMB in Q1 2023, showing an increase of approximately 76%[56] - Cash inflows from investment activities of 372,312 thousand RMB in Q1 2024, compared to 116,298 thousand RMB in Q1 2023, representing a significant increase of about 220%[58] - Cash outflows from investment activities totaled 3,531,944 thousand RMB in Q1 2024, compared to 3,026,901 thousand RMB in Q1 2023, reflecting an increase of approximately 16.7%[58] - The net cash flow from investment activities was -3,159,632 thousand RMB in Q1 2024, compared to -2,910,603 thousand RMB in Q1 2023, indicating a deeper cash outflow by about 8.6%[58] - Cash inflow from financing activities totaled $23,576,990 in Q1 2024, compared to $32,305,505 in Q1 2023, representing a decrease of approximately 27%[60] - Cash outflow from financing activities amounted to $24,626,998 in Q1 2024, down from $33,706,671 in Q1 2023, indicating a reduction of about 27%[60] - The net cash flow from financing activities was -$1,050,008 in Q1 2024, an improvement from -$1,401,166 in Q1 2023[60] Assets and Liabilities - Total assets at the end of the reporting period were CNY 306,198,184, a slight increase of 0.72% from the end of the previous year[9] - Shareholders' equity at the end of the reporting period was CNY 78,177,540, reflecting a growth of 6.23% compared to the previous year[9] - The total liabilities as of March 31, 2024, were CNY 212,645,767, a decrease from CNY 215,532,968 as of December 31, 2023[39] - Current liabilities totaled CNY 88,646,545 as of March 31, 2024, down from CNY 91,230,324 at the end of 2023, representing a decline of 2.9%[37] - Non-current liabilities were CNY 123,999,222 as of March 31, 2024, compared to CNY 124,302,644 at the end of 2023, showing a slight decrease of 0.2%[39] - The total equity attributable to shareholders increased to CNY 78,177,540 as of March 31, 2024, from CNY 73,594,084 at the end of 2023, reflecting a growth of 6.5%[41] Shareholder Information - The number of shares held by the largest shareholder, China Datang Corporation, is 6,540,706,520, representing 35.34% of the total shares[30] - The total shares held by the top ten shareholders account for approximately 53.09% of the company's total issued shares[30] - The company has a significant amount of pledged shares, with HKSCC Nominees Limited holding 3,275,623,820 shares, approximately 17.70% of the total share capital[30] - The company’s financial subsidiary holds 8,238,600 A shares as of March 31, 2024[31] Operational Costs and Expenses - Total operating costs for Q1 2024 were CNY 28,798,467, slightly up from CNY 28,451,565 in Q1 2023, reflecting a year-over-year increase of 1.2%[44] - The company's financial expenses in Q1 2024 amounted to CNY 1,360,363, down from CNY 1,518,860 in Q1 2023, indicating a decrease of 10.4%[44] - Research and development expenses decreased to CNY 546 in Q1 2024 from CNY 1,183 in Q1 2023, a reduction of 53.8%[44] Future Outlook - The company plans to expand its market presence and invest in new technologies to drive future growth[44]

Financial Performance - The operating revenue for the year 2023 was RMB 122.40 billion, reflecting a growth from RMB 116.83 billion in 2022[11]. - The pre-tax profit for 2023 was RMB 5.70 billion, compared to a pre-tax loss of RMB 11.08 billion in 2021[11]. - The company’s profit attributable to ordinary shareholders for 2023 was a loss of RMB 212 million, a significant improvement from a loss of RMB 10.54 billion in 2021[11]. - The total profit before tax for the group was approximately RMB 5.70 billion, representing a growth of about 7,307.79% year-on-year, with net profit attributable to equity holders of the company at approximately RMB 1.44 billion, recovering from a net loss of RMB 0.33 billion in 2022[30]. - The company achieved an operating revenue of approximately RMB 122.40 billion, an increase of about 4.77% compared to the previous year, primarily driven by a 5.30% growth in the electricity and heat sales segment[29]. - The company reported a significant increase in revenue, achieving a total of 30 billion RMB for the fiscal year, representing a year-over-year growth of 15%[61]. - The company provided guidance for the next fiscal year, projecting a revenue increase of 10% to 33 billion RMB[63]. Asset and Liability Management - As of December 31, 2023, the total assets of Datang International Power Generation Co., Ltd. amounted to approximately RMB 304.04 billion, with a total installed capacity of 73,290.96 MW[10]. - Total assets as of December 31, 2023, amounted to RMB 304,039 million, a slight decrease from RMB 305,185 million in 2022[20]. - Total liabilities decreased to RMB 215,601 million in 2023 from RMB 228,860 million in 2022, indicating improved financial stability[20]. - The net debt-to-equity ratio was approximately 183.25% as of December 31, 2023, indicating a focus on managing financial leverage[33]. - The group’s net financial expenses were approximately RMB 5.77 billion, a decrease of about 14.07% year-on-year, mainly due to a reduction in debt financing scale and controlled financing costs[29]. Capacity and Generation - The company achieved a total power generation of approximately 274.96 billion kWh in 2023, with a completed grid-connected power generation of about 259.43 billion kWh[11]. - The company added a total of 4,799.2 MW of new installed capacity in 2023, including 577 MW from thermal power, 2,047.5 MW from wind power, and 1,604.7 MW from photovoltaic power[10]. - The installed capacity of low-carbon clean energy reached 37.75% of the total capacity, an increase of 4.65 percentage points compared to the end of the previous year[10]. - The company added 4.8 million kilowatts of new installed capacity in 2023, with 3.65 million kilowatts from new energy sources[22]. - The company added a total generating capacity of 4,799.2 MW in 2023, with a low-carbon clean energy installed capacity ratio increasing to 37.75%[28]. Strategic Initiatives and Goals - The company is committed to achieving its "dual carbon" goals, focusing on green and low-carbon transformation as its development direction[10]. - The company is committed to enhancing its green transformation capabilities, including the development of energy storage and hydrogen energy projects[23]. - The company plans to deepen its focus on new energy and clean coal power industries, aiming for green transformation and sustainable development[37]. - The company is actively pursuing strategic opportunities to accelerate structural adjustments and green transformation, focusing on developing wind, solar, and hydropower projects during the 14th Five-Year Plan[75]. - The company aims to upgrade and transform thermal power generation, reducing carbon emissions and eliminating outdated capacity through technological innovation[75]. Governance and Compliance - The company has maintained compliance with corporate governance codes and has not faced any significant regulatory penalties[80]. - The board of directors consists of 15 members, including 5 independent non-executive directors, ensuring a diverse and professional background[88]. - The company has established a governance structure to ensure compliance with legal regulations and internal control systems[129]. - The company has established a mechanism to review the effectiveness of its governance practices annually[89]. - The company confirmed that all directors and supervisors complied with the standard code of conduct for securities trading during the year[103]. Human Resources and Training - The group’s employee count stood at 29,077, with a focus on performance-based compensation linked to economic efficiency and labor productivity[34]. - The company has implemented a comprehensive annual training plan, focusing on developing management, technical, and skilled personnel[42]. - The company is actively promoting a multi-channel career development system for employees, enhancing motivation and accelerating talent development[43]. - The workforce consists of 29,077 employees, with 82.9% being male and 17.1% female, indicating a significant gender disparity[39]. Environmental and Social Responsibility - The company maintained a commitment to environmental sustainability by implementing relevant laws and regulations, including the Environmental Protection Law of the People's Republic of China[155]. - The company made charitable donations totaling approximately RMB 8.4362 million during the year[163]. - The company has established a customer satisfaction management system to enhance customer relationships and satisfaction[160]. Investor Relations - The company emphasizes integrity and communication as core principles in its investor relations strategy[74]. - The company has established a dedicated team for investor relations management, ensuring effective communication with shareholders and investors[74]. - A total of 191 investors and analysts were engaged through various communication channels, including earnings briefings and conference calls, during the reporting period[74]. Capital Operations and Financing - The company raised RMB 29.862 billion through debt financing and RMB 21 billion through equity financing in 2023[85]. - The company issued medium-term notes with a total financing amount of RMB 15 billion at a coupon rate of 3.06% on November 29, 2023, for repaying interest-bearing debts and supplementing working capital[176]. - The company issued medium-term notes with a total financing amount of RMB 20 billion at a coupon rate of 3.09% on October 16, 2023, for repaying interest-bearing debts and supplementing working capital[176]. Related Party Transactions - The company engaged in related party transactions with China Datang Group, with a total transaction amount of RMB 1.1 billion for the year 2023[178]. - The maximum annual limit for coal supply transactions was RMB 485 million, with actual transactions amounting to RMB 173.71 million[180]. - The company has ongoing related party transactions that help reduce operational risks and costs, enhancing efficiency[180].

E 大 唐 国 际 发 电 股 份 有 限 公 司 datang International power generation co., ltd. 股份代號: 00991 綠色低碳 高質發展 armm 00000 // 2023 年度報告 00 000000 000000 0 l l l = n 中国大型 THE des t 3 8 12 HARRESS p ed SS to with the t n a 1-40 ter n and SHH n (1) the first 3 目錄 | --- | --- | --- | --- | |------------------|-------|--------------------------|---------| | | | | | | | | | | | 公司基本情況 | 2-4 | | | | 公司歷程 | 5 | | | | 項目分佈圖 | 6-7 | | | | 財務摘要 | 8 | | | | 董事長致辭 | 9-11 | | | | 管理層討論與分析 | 12-18 | | | | 人力資源概況 | 19-37 | | | | | | | | | ...