[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 ...

关于 2024 年度"提质增效重回报"行动方案的公告 证券代码：601991 证券简称：大唐发电 公告编号：2024-029 大唐国际发电股份有限公司 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。 大唐国际发电股份有限公司（"大唐发电"或"公司"）为深入贯彻党的二 十大和中央经济工作会议精神，认真落实国务院《关于进一步提高上市公司质量 的意见》、国务院国资委《提高央企控股上市公司质量工作方案》、上海证券交 易所《关于开展沪市公司"提质增效重回报"专项行动的倡议》等工作要求，推 动上市公司高质量发展和投资价值提升，切实履行公司的责任和义务，落实打造 长期、稳定、可持续的股东价值回报机制，更好发挥主体责任，更好回报投资者， 积极响应上交所公开倡议，制订公司 2024 年度"提质增效重回报"行动方案。 一、上市公司基本情况 大唐发电是中国大型独立发电公司之一，是第一家在伦敦上市的中国企业、 第一家在香港上市的中国电力企业，第一家同时在香港、伦敦、上海三地上市的 中国企业，公司及子公司发电业务主要分布于全国 19 个 ...

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 | | | | | | | | | ...

Financial Performance - The company's operating revenue for Q1 2024 was CNY 30,737,100, representing a year-on-year increase of 9.58%[4] - The net profit attributable to shareholders for Q1 2024 was CNY 1,331,460, showing a significant increase of 872.26% compared to the same period last year[4] - 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[4] - The net cash flow from operating activities for Q1 2024 was CNY 6,164,230, which is an increase of 75.65% compared to the previous year[4] - The basic earnings per share for Q1 2024 was CNY 0.0505, marking an increase of 517.44% year-on-year[4] - Total operating costs for Q1 2024 were CNY 28,798,467, an increase from CNY 28,451,565 in Q1 2023[19] - Net profit for Q1 2024 reached CNY 1,736,254, significantly up from CNY 4,986 in Q1 2023[19] - Operating profit for Q1 2024 was CNY 2,114,062, compared to CNY 186,281 in the same period last year[19] - Revenue from sales of goods and services in Q1 2024 was CNY 32,782,684, up from CNY 30,045,358 in Q1 2023[20] - Total comprehensive income for Q1 2024 was CNY 1,736,373, compared to CNY 197,108 in Q1 2023[20] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 306,198,184, a slight increase of 0.72% from the end of the previous year[5] - The equity attributable to shareholders at the end of Q1 2024 was CNY 78,177,540, which increased by 6.23% compared to the end of the previous year[5] - The company's total assets as of March 31, 2024, amount to RMB 306,198,184,000, compared to RMB 303,998,918,000 as of December 31, 2023[18] - The company's total liabilities as of March 31, 2024, are RMB 212,645,767,000, compared to RMB 215,532,968,000 as of December 31, 2023[18] - The non-current liabilities total RMB 123,999,222,000 as of March 31, 2024, slightly down from RMB 124,302,644,000 at the end of 2023[18] - The company's inventory as of March 31, 2024, is RMB 3,758,884,000, compared to RMB 3,634,605,000 as of March 31, 2023[16] - The company reported accounts receivable of RMB 19,920,324,000 as of March 31, 2024, compared to RMB 19,619,049,000 a year earlier[16] - The company's total equity attributable to shareholders as of March 31, 2024, is RMB 78,177,540,000, an increase from RMB 73,594,084,000 as of December 31, 2023[18] Cash Flow and Liquidity - The company's cash and cash equivalents increased to RMB 10,924,596,000 from RMB 9,016,673,000 year-over-year[16] - Cash and cash equivalents at the end of Q1 2024 totaled CNY 10,421,211, an increase from CNY 8,724,970 at the end of Q1 2023[22] - The company reported a net increase in customer deposits and interbank placements, contributing to liquidity[21] Government Support and Investments - The company received government subsidies amounting to CNY 79,010, primarily related to energy-saving renovation projects[6] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 180,995[9] - As of March 31, 2024, China Datang Group and its subsidiaries hold a total of 9,824,568,940 shares, accounting for approximately 53.09% of the company's total issued shares[13] Accounting and Reporting - The company will implement new accounting standards starting in 2024, affecting the financial statements from the beginning of the year[23] - The financial report is presented by Wang Shunqi, with accounting responsibilities held by Sun Yanwen and Wang Tiankan[23] - The announcement was made by the board of directors of Datang International Power Generation Co., Ltd. on April 26, 2024[23] - The report does not apply to the new accounting standards or interpretations for the first execution year[23] - The document indicates a total of 12 pages, suggesting a comprehensive financial overview[23] - There are no specific performance summaries, user data, or future outlooks provided in the document[23] - No new products, technologies, market expansions, or mergers and acquisitions are mentioned in the report[23] - The report does not include any financial figures or percentage changes[23] - The company has not disclosed any new strategies in this document[23] - The document serves primarily as a formal announcement regarding accounting standards[23]

Financial Performance - The company's operating revenue for 2023 reached CNY 122,404,466 thousand, representing a 4.77% increase compared to CNY 116,828,044 thousand in 2022[13]. - The net profit attributable to shareholders for 2023 was CNY 1,365,125 thousand, a significant recovery from a loss of CNY 407,727 thousand in 2022, marking a 434.81% increase[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 564,468 thousand, compared to a loss of CNY 1,479,764 thousand in the previous year, reflecting a 138.15% improvement[13]. - Basic earnings per share for 2023 was -0.0154 CNY, an improvement of 84.04% compared to -0.0965 CNY in 2022[16]. - The weighted average return on equity increased by 5.19 percentage points to -1.04% in 2023 from -6.23% in 2022[16]. - The net profit attributable to shareholders under Chinese accounting standards for the current period was 1,365,125 thousand CNY, compared to a loss of 407,727 thousand CNY in the previous period[17]. - The company achieved a turnaround in profitability, moving from a loss to a profit for the year, driven by strategies focused on coal price reduction, electricity volume increase, and cost control[25]. Cash Flow and Assets - The net cash flow from operating activities for 2023 was CNY 21,213,682 thousand, up 3.67% from CNY 20,463,660 thousand in 2022[15]. - The total assets of the company at the end of 2023 were CNY 303,998,918 thousand, a slight decrease of 0.37% from CNY 305,132,264 thousand at the end of 2022[15]. - The net assets attributable to shareholders increased to CNY 73,594,084 thousand, representing a 17.55% increase from CNY 62,609,195 thousand in 2022[15]. - The cash flow generated from operating activities in Q3 2023 was 10,118,846 thousand CNY, reflecting strong operational performance[20]. - The company reported a decrease in non-current asset disposal gains to 431,236 thousand CNY in 2023 from 686,282 thousand CNY in 2022[21]. Dividends and Shareholder Returns - The company plans to distribute cash dividends amounting to CNY 138,800 thousand for the 2023 fiscal year[4]. - The cash dividend amount for the year is 138,800,000 RMB, with a per-share dividend of 0.075 RMB[106]. - The company has a cash dividend policy that stipulates a distribution of 50% of the net profit as cash dividends[104]. Operational Efficiency and Management - The company is focused on enhancing management efficiency and accelerating green development transformation to achieve high-quality growth[24]. - The company is implementing a two-part electricity pricing policy for coal power starting January 1, 2024, to adapt to new operational models[27]. - The company is committed to accelerating the development of new energy and clean coal power, with a focus on green transformation and resource utilization[70]. - The company is actively pursuing market expansion, with new projects in Hebei and Heilongjiang contributing 1,350 MW and 1,900 MW respectively[53]. Environmental and Sustainability Initiatives - The company has committed to environmental responsibility, with no ecological incidents reported during the reporting period[130]. - The company has implemented carbon reduction measures, including the use of low-carbon technologies in production and the development of new products aimed at reducing carbon emissions[131]. - The company has invested in enhancing its environmental technology and equipment to improve pollution control measures[124]. - The company has established a comprehensive support system for poverty alleviation, focusing on 64 key projects across 39 targeted villages in 11 provinces[135]. Governance and Compliance - The company has strengthened its internal control system, with no significant deficiencies identified in financial reporting or internal controls as of the evaluation date[73]. - The company has established a modern governance structure, continuously improving its governance capabilities since its inception[73]. - The company has conducted risk assessments and internal control evaluations as part of its daily management practices[73]. - The company has maintained independence from its controlling shareholder, ensuring separate assets, personnel, and financial management[74]. Future Outlook and Strategic Plans - The company anticipates a 6% growth in national electricity consumption in 2024, reaching approximately 9.8 trillion kilowatt-hours[67]. - The company expects the total installed power generation capacity to reach 3.25 billion kilowatts in 2024, with non-fossil energy sources accounting for 57% of the total[67]. - The company aims to develop renewable energy and achieve carbon peak and carbon neutrality goals, enhancing its competitive edge in the energy sector[69]. - The company plans to continue investing in renewable energy technologies to enhance its sustainability efforts[55]. Financial Strategies and Debt Management - The company has a total of 158,235 thousand RMB in guarantees provided to subsidiaries during the reporting period[152]. - The company has a total of 937,864 thousand RMB in overdue amounts for entrusted loans[154]. - The company has a plan for future entrusted loans, indicating ongoing financial strategies[156]. - The company has a credit limit of RMB 27 billion from China Datang Group Financial Company, with an actual utilization of RMB 9.887 billion[150]. Emissions and Environmental Compliance - The company reported a total sulfur dioxide emission of 778.535 tons, with a concentration of 13.7 mg/Nm3, meeting the emission standards[113]. - The company has achieved compliance with emission standards across multiple facilities, indicating effective environmental management practices[119]. - The company has implemented environmental monitoring plans and regularly reports to the national pollution permit management information platform[127]. - The company reported a total of 1,513.65 tons of sulfur dioxide emissions from the Jilin Power Plant, with a concentration of 94.92 mg/Nm3, significantly exceeding the limit of 200 mg/Nm3[123].

Financial Performance - The company's operating revenue for the year ended December 31, 2023, was approximately RMB 122.40 billion, an increase of about 4.77% compared to the previous year[3]. - The pre-tax profit reached approximately RMB 5.70 billion, showing a significant increase of approximately 7,307.79% year-on-year[3]. - The net profit attributable to equity holders of the company was approximately RMB 1.44 billion, a turnaround from a net loss of RMB 0.33 billion in 2022, representing a 540.06% improvement[3]. - Basic earnings per share improved to a loss of RMB 0.0115, compared to a loss of RMB 0.0921 in the previous year, marking an 87.51% reduction in losses[3]. - The total operating costs for the year amounted to approximately RMB 114.38 billion, reflecting a slight increase of about 0.54% year-on-year due to increased power generation costs[13]. - The net financial expenses for the year were approximately RMB 5.77 billion, a decrease of about 14.07% year-on-year, attributed to a reduction in debt financing scale and controlled financing costs[14]. - The total profit before tax for the year was approximately RMB 5.70 billion, representing a significant increase of about 7,307.79% year-on-year, with net profit attributable to equity holders of the company at approximately RMB 1.44 billion, compared to a net loss of RMB 327 million in 2022[15]. - The company's operating revenue for the year ended December 31, 2023, was RMB 122,404,466 thousand, an increase from RMB 116,828,044 thousand in 2022, representing a growth of approximately 4.5%[43]. - The operating profit for the year was RMB 8,023,565 thousand, a significant increase from RMB 3,061,886 thousand in the previous year, reflecting a growth of approximately 162.5%[43]. - The net profit attributable to the company's equity holders for the year was RMB 3,101,495 thousand, compared to a loss of RMB 780,091 thousand in 2022, marking a substantial turnaround[43]. - The company reported a net profit of RMB 3,101,495 thousand for the year ended December 31, 2023, compared to a loss of RMB 780,091 thousand in 2022, indicating a significant turnaround in performance[44]. - Total comprehensive income for the year was RMB 3,365,191 thousand, a recovery from a loss of RMB 737,208 thousand in the previous year[44]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.0075 per share for the fiscal year 2023[3]. - The company proposed a cash dividend of RMB 0.0075 per share, amounting to a total of approximately RMB 138.8 million based on the total share capital of 18,506,710,504 shares as of December 31, 2023[26]. - The company will complete profit distribution matters within two months after shareholder meeting approval[28]. - The company proposed a final dividend of RMB 0.0075 per share for the year ended December 31, 2023, totaling RMB 138,800,000[77]. Asset and Liability Management - As of December 31, 2023, the total assets of the group were approximately RMB 304.04 billion, a decrease of about RMB 1.15 billion from the end of 2022, mainly due to a reduction in prepaid fuel payments[16]. - The total liabilities of the group as of December 31, 2023, were approximately RMB 215.60 billion, a decrease of about RMB 13.26 billion from the end of 2022, primarily due to a reduction in interest-bearing debt financing[16]. - The group had a debt ratio of approximately 70.91% and a net debt-to-equity ratio of approximately 183.25% as of December 31, 2023[18]. - The company's total liabilities decreased to RMB 28,639,574 in 2023 from RMB 31,996,684 in 2022[83]. - The company's total assets less current liabilities amounted to RMB 212,809,141 thousand in 2023, compared to RMB 202,756,342 thousand in 2022, reflecting an increase of about 4.9%[46]. - The total assets for the reporting segments as of December 31, 2023, were RMB 303,998,918 thousand, slightly down from RMB 305,132,264 thousand in 2022[64]. - The total liabilities for the reporting segments decreased to RMB 215,532,968 thousand in 2023 from RMB 228,827,927 thousand in 2022, showing a reduction of about 5.8%[64]. Operational Developments - The company added a total of 4,799.2 MW of new generating capacity in 2023, with 2,047.5 MW from wind projects and 1,604.7 MW from solar projects, increasing the proportion of low-carbon clean energy capacity to 37.75%[10]. - A total of 184 power projects were approved during the reporting period, with an approved capacity of 12,782.43 MW, including 4,000 MW from two coal-fired projects[11]. - The company is advancing its green transformation strategy, focusing on the development of new energy and the upgrading of existing coal power projects[10]. - The company is committed to energy security and has successfully completed major power supply tasks for significant events, demonstrating its capability in energy supply assurance[10]. - The company is focusing on the transformation and development of new energy and clean coal power, emphasizing green transformation and resource optimization[27]. Corporate Governance and Compliance - The company has made significant progress in corporate governance, enhancing its governance system and risk control measures, and has received multiple awards for its corporate brand image[11]. - The company has adhered to corporate governance codes throughout the year, with specific exceptions noted[34]. - The company has undergone significant changes in its board of directors, with new appointments effective from February 21, 2023, and December 21, 2023[31][32]. - The company is committed to improving its internal control system and risk management to ensure effective operation[27]. Future Outlook - The outlook for 2024 includes a focus on safety management and cost control to maximize overall efficiency and profitability[24]. - The company plans to enhance its R&D investment management and stimulate employee participation in technological innovation[27]. - The company aims to enhance its brand image and value creation capabilities through comprehensive management improvements[27]. Employee and Compensation - The total number of employees in the group was 29,077 as of December 31, 2023, with a focus on performance-based compensation and talent incentives[20]. - Employee costs totaled RMB 11,184,197 thousand in 2023, up from RMB 9,053,290 thousand in 2022, indicating a growth of approximately 23.5%[75]. Tax and Financial Reporting - The company’s tax expense for the year was RMB (2,602,793) thousand, compared to RMB (856,686) thousand in the previous year, indicating an increase in tax obligations[43]. - The company reported a total income tax expense for 2023 of RMB 2,602,793 thousand, significantly higher than RMB 856,686 thousand in 2022, indicating a substantial rise in tax obligations[74]. - The application of the revised International Financial Reporting Standards (IFRS) has resulted in an increase in income tax expenses by RMB 5,535,000 for the year ending December 31, 2023, compared to a decrease of RMB 2,432,000 in 2022[55]. - The company aims to enhance its financial reporting accuracy by addressing the discrepancies between IFRS and Chinese Accounting Standards in future disclosures[94].