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份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。 2022年 度 業 績 公 告 業 績 摘 要 • 2022年 公 司 實 現 營 業 總 收 入 為 人 民 幣553.53億 元（2021年：人 民 幣 478.19億元），較上年同期增長15.76%； • 2022年公司實現歸屬於上市公司股東淨利潤為人民幣28.55億元（2021 年：人民幣22.89億元），較同期增長24.71%； ...

Financial Performance - Total operating revenue for the third quarter reached RMB 12,637,870,628.86, an increase of 18.31% compared to the same period last year[3] - Net profit attributable to shareholders was RMB 725,894,607.78, reflecting a significant increase of 40.15% year-on-year[3] - The company reported a basic earnings per share of RMB 0.23, up 35.29% from the previous year[3] - The net profit attributable to the parent company increased by 33.96%, primarily due to revenue growth and corresponding increase in gross profit[8] - Total revenue for the first three quarters of 2022 reached CNY 40.55 billion, a 21.3% increase from CNY 33.42 billion in the same period of 2021[23] - Net profit attributable to shareholders for the first three quarters of 2022 was CNY 2.50 billion, compared to CNY 1.87 billion in 2021, representing a 33.9% increase[25] - The company reported a total operating profit of CNY 2.92 billion for the first three quarters of 2022, compared to CNY 2.25 billion in 2021, reflecting a growth of 29.5%[25] - Total comprehensive income for the first three quarters of 2022 reached CNY 2,680,674,518.32, a 35.4% increase from CNY 1,976,925,703.09 in the same period of 2021[27] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 113,768,345,735.90, representing a growth of 10.34% compared to the end of the previous year[4] - The company's total liabilities as of September 30, 2022, amounted to RMB 76.33 billion, compared to RMB 67.72 billion at the end of 2021, reflecting an increase of about 12.4%[21] - The company's non-current assets totaled RMB 43.87 billion, up from RMB 33.25 billion year-over-year, marking a growth of approximately 32%[19] - The company's equity attributable to shareholders increased to RMB 34,409,874,234.78, a rise of 5.88% from the previous year[4] - The company's equity attributable to shareholders rose to CNY 34.41 billion as of September 30, 2022, compared to CNY 32.50 billion at the end of 2021, marking a 5.9% increase[22] Cash Flow - The net cash flow from operating activities for the period was RMB 1,307,062,184.55, which is not applicable for year-on-year comparison[3] - The net cash inflow from operating activities increased by 10.651 billion yuan, mainly due to improved collection and increased deposits[9] - Cash inflows from operating activities totaled CNY 37,906,828,727.61, compared to CNY 28,676,304,863.24 in the first three quarters of 2021, marking a 32.3% increase[29] - Cash outflows from operating activities decreased to CNY 34,200,476,708.58 from CNY 35,621,395,482.97, resulting in a net cash flow from operating activities of CNY 3,706,352,019.03, a significant improvement from a net outflow of CNY 6,945,090,619.73 in 2021[30] - The company reported a net increase in customer deposits and interbank placements of CNY 2,311,506,737.79, a turnaround from a decrease of CNY 427,793,811.27 in the previous year[29] Shareholder Information - The total number of common shareholders at the end of the reporting period was 84,111[10] - The top shareholder, China Eastern Electric Group Co., Ltd., holds 1,727,919,826 shares, accounting for 55.40% of the total shares[11] Operational Highlights - The company experienced a 36.48% increase in accounts receivable due to higher sales volume during the period[7] - The company’s long-term receivables increased by 103.97%, indicating a rise in installment sales[7] - The company plans to continue expanding its market presence and investing in new product development[2] - The company plans to focus on expanding its clean and efficient energy equipment segment, which has shown strong order growth[14] - The company secured new effective orders amounting to RMB 53.82 billion, with clean and efficient energy equipment accounting for 32.45%, renewable energy equipment for 27.67%, engineering and trade for 12.98%, modern manufacturing services for 13.10%, and emerging growth industries for 13.81%[14] Other Financial Metrics - Non-recurring gains and losses for the period included government subsidies amounting to RMB 35,070,579.81[5] - Other income increased by 176.60% due to an increase in debt restructuring income[8] - Investment income decreased by 41.54% due to a decline in long-term equity investment income accounted for using the equity method[8] - The cash outflow from investing activities decreased by 6.873 billion yuan, primarily due to increased net outflow from the financial company's investment in interbank certificates of deposit[9] - The financial expenses decreased by 0.90 billion yuan, mainly due to an increase in foreign exchange net income[8] - Research and development expenses for the first three quarters of 2022 were CNY 1.46 billion, slightly down from CNY 1.53 billion in the same period of 2021[24] - Other comprehensive income after tax for the first three quarters of 2022 was CNY 71.66 million, a significant improvement from a loss of CNY 5.91 million in 2021[26]

Financial Performance - Total operating income for the first half of 2022 reached RMB 27.91 billion, an increase of 22.75% compared to RMB 22.74 billion in the same period of 2021[11]. - Net profit attributable to shareholders for the first half of 2022 was RMB 1.77 billion, reflecting a year-on-year growth of 31.59% from RMB 1.35 billion[11]. - Basic earnings per share for the first half of 2022 increased by 32.56% to RMB 0.57, up from RMB 0.43 in the same period last year[13]. - The company reported a total of RMB 336 million in non-recurring gains and losses for the first half of 2022, including government subsidies and asset disposal gains[16]. - The weighted average return on equity for the first half of 2022 was 5.38%, an increase of 1.11 percentage points from 4.27% in the same period last year[13]. - The net profit after deducting non-recurring gains and losses was RMB 1.44 billion, up 17.14% year-on-year[32]. - The total comprehensive income amounted to RMB 1.90 billion, an increase of 32.8% from RMB 1.43 billion last year[171]. Assets and Liabilities - The company's total assets as of June 30, 2022, amounted to RMB 109.90 billion, representing a 6.59% increase from RMB 103.10 billion at the end of 2021[12]. - The company's net assets attributable to shareholders increased by 3.53% to RMB 33.64 billion as of June 30, 2022, compared to RMB 32.50 billion at the end of 2021[12]. - Total liabilities increased to RMB 73.25 billion, up from RMB 67.72 billion year-over-year, representing an 8.3% increase[166]. - Current liabilities totaled RMB 63.14 billion, compared to RMB 57.98 billion in the previous year, reflecting an increase of 8.5%[166]. - The total equity attributable to shareholders rose to RMB 33.64 billion, up from RMB 32.50 billion, reflecting a 3.5% increase[166]. Cash Flow - The net cash flow from operating activities for the first half of 2022 was RMB 2.40 billion, a significant recovery from a negative cash flow of RMB 4.66 billion in the same period of 2021[11]. - The net cash flow from operating activities increased by RMB 7.06 billion year-on-year, driven by improved collection and increased deposits[43]. - Cash and cash equivalents decreased by 29.30% compared to the end of the previous year, totaling RMB 13,235,457,588.96[54]. - The net increase in cash and cash equivalents for the first half of 2022 was -735,661,662.78 RMB, compared to -605,535,977.70 RMB in the same period last year, showing a worsening of about 21.5%[174]. Revenue Breakdown - The company’s clean and efficient power generation equipment accounted for 30.58% of total revenue, while renewable energy equipment made up 29.20%[24]. - Renewable energy equipment revenue grew by 3.52% year-on-year, with wind power product revenue increasing by 7.71%[47]. - Engineering and trade revenue rose by 73.71% year-on-year, primarily due to increased trade income[49]. - Emerging growth industries revenue increased by 18.42% year-on-year, mainly from environmental and energy-saving products[50]. Market and Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies to drive future growth[6]. - The management highlighted the importance of increasing sales revenue and gross profit as key factors for the improved net profit performance[14]. - The company is advancing its digital transformation and enhancing management efficiency through various mechanisms[30]. - The company aims to enhance technological innovation and market expansion to achieve high-quality completion of annual targets under the "dual carbon" goals[85]. Employee and Shareholder Information - As of June 30, 2022, the total number of employees was 17,764, with total employee compensation amounting to RMB 1,171.05 million during the reporting period[95]. - The company approved a cash dividend of RMB 2.30 per 10 shares, totaling RMB 717,325,793.31 (pre-tax) for the fiscal year 2021[91]. - The total number of ordinary shares is 3,119,001,130, with a decrease of 150,000 shares during the reporting period[126]. Risk Management - The company faces market competition risks due to the energy equipment industry's transformation, emphasizing the need for comprehensive energy solutions and resource acquisition[78]. - The company is actively addressing risks related to international operations and supply chain stability due to ongoing global uncertainties[81]. - The company plans to strengthen due diligence processes for mergers and acquisitions to mitigate investment risks in new industries[81]. Financial Reporting and Compliance - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[184]. - The company’s financial reporting period aligns with the calendar year, from January 1 to December 31[185]. - The company adopts RMB as its functional currency for accounting purposes[186].

Financial Performance - Total operating revenue for the first quarter reached RMB 14,107,148,546.27, an increase of 29.77% year-on-year[3] - Net profit attributable to shareholders was RMB 926,080,213.76, reflecting a growth of 46.31% compared to the same period last year[3] - Basic earnings per share increased to RMB 0.297, marking a 46.31% rise year-on-year[3] - Operating income rose to RMB 13,818,651,935.10, up 30.10% from the previous year, driven by a 39.88% increase in revenue from the wind power sector[8] - Operating profit increased by 53.06% to 1.105 billion CNY, driven by revenue growth and increased gross profit[12] - Net profit rose by 42.46% to 975 million CNY, attributed to revenue growth and increased gross profit[12] - Revenue reached 13.819 billion CNY, a year-on-year increase of 30.10%, primarily due to a 39.88% increase in the wind power segment[10] - Total revenue for Q1 2022 reached RMB 14.11 billion, a 29.0% increase from RMB 10.87 billion in Q1 2021[26] - Operating income for Q1 2022 was RMB 13.82 billion, up 30.6% from RMB 10.62 billion in Q1 2021[26] - Total operating costs in Q1 2022 amounted to RMB 13.18 billion, representing a 29.2% increase compared to RMB 10.22 billion in Q1 2021[26] - Net profit for Q1 2022 was RMB 1.09 billion, a significant increase from RMB 727.42 million in Q1 2021[27] - Net profit for Q1 2022 reached ¥975,346,762.75, a 42.5% increase from ¥684,667,261.02 in Q1 2021[28] - Net profit attributable to shareholders of the parent company was ¥926,080,213.76, up 46.3% from ¥632,953,003.56 in the same period last year[28] - Total comprehensive income for Q1 2022 was ¥975,295,345.34, compared to ¥689,101,002.42 in Q1 2021, reflecting a growth of 41.6%[29] - Basic and diluted earnings per share for Q1 2022 were both ¥0.297, an increase from ¥0.203 in Q1 2021[30] Cash Flow - Cash flow from operating activities showed a net outflow of RMB 3,596,336,427.66, which is not applicable for year-on-year comparison[3] - Cash flow from operating activities showed a net outflow of 3.596 billion CNY, a decrease of 1.19 billion CNY compared to the previous year, with cash inflow from sales increasing by 16.62%[12] - Cash flow from financing activities increased by 883.16% to a net inflow of 220 million CNY, mainly due to external investment of 211 million CNY in a subsidiary[13] - Cash inflow from operating activities totaled ¥8,113,772,416.65, up from ¥7,135,678,758.54 in the previous year[31] - Cash outflow for purchasing goods and services was ¥9,145,465,804.63, compared to ¥8,983,007,704.11 in Q1 2021[31] - The net cash flow from operating activities was ¥11,710,108,844.31, compared to ¥10,850,618,268.55 in Q1 2021[32] - The net increase in cash from customer deposits and interbank placements was ¥7,821,682,586.32, up from ¥6,707,082,701.20 in Q1 2021[31] - In Q1 2022, the net cash flow from investing activities was -$250.32 million, a significant decrease from $1.60 billion in Q1 2021[33] - Cash inflow from financing activities totaled $241.26 million in Q1 2022, compared to $42.72 million in Q1 2021, indicating a substantial increase[33] - The net cash flow from financing activities was $219.54 million in Q1 2022, up from $22.33 million in Q1 2021[33] - The net increase in cash and cash equivalents for Q1 2022 was -$3.64 billion, worsening from -$2.08 billion in Q1 2021[34] - The ending balance of cash and cash equivalents as of Q1 2022 was $12.69 billion, down from $22.19 billion in Q1 2021[34] - Cash received from investments in subsidiaries was $221.26 million in Q1 2022, compared to $36.50 million in Q1 2021[33] - Cash received from borrowings increased to $20 million in Q1 2022 from $6.22 million in Q1 2021[33] - Cash outflow for debt repayment was $9.60 million in Q1 2022, slightly down from $12.18 million in Q1 2021[33] - The impact of exchange rate changes on cash and cash equivalents was -$9.48 million in Q1 2022, contrasting with a positive impact of $13.60 million in Q1 2021[33] - The cash and cash equivalents at the beginning of Q1 2022 were $16.32 billion, down from $24.28 billion at the beginning of Q1 2021[34] Assets and Liabilities - Total assets at the end of the reporting period were RMB 103,655,868,894.89, a slight increase of 0.53% from the previous year[3] - The company's equity attributable to shareholders increased to RMB 33,542,717,982.94, up 3.22% from the end of the previous year[3] - Accounts receivable increased by 31.70%, attributed to expanded sales scale[8] - Short-term borrowings rose by 47.81%, reflecting new borrowings of RMB 20 million needed for subsidiary operations[8] - Accounts receivable at the end of the period amounted to 10.518 billion CNY, up 31.70% from the beginning of the year, driven by expanded sales[10] - Long-term receivables increased by 36.32% to 753 million CNY, mainly due to installment sales[10] - The company's total liabilities as of March 31, 2022, were RMB 67.16 billion, a slight decrease from RMB 67.72 billion at the end of 2021[24] - Total equity attributable to shareholders increased to RMB 33.54 billion as of March 31, 2022, compared to RMB 32.50 billion at the end of 2021[25] - The company holds a significant amount of financial assets, including RMB 12.92 billion in debt investments as of March 31, 2022[22] - The company’s inventory increased to RMB 19.42 billion from RMB 19.06 billion at the end of 2021[21] - The company reported a decrease in contract liabilities to RMB 27.69 billion as of March 31, 2022, from RMB 30.40 billion at the end of 2021[23] - Short-term borrowings increased to RMB 61.83 million as of March 31, 2022, compared to RMB 41.83 million at the end of 2021[23] Other Information - Non-recurring gains and losses amounted to RMB 263,028,126.97, with significant contributions from debt restructuring gains of RMB 135,649,171.95[4] - Other income rose by 357.24% to 150 million CNY, primarily from debt restructuring gains of 136 million CNY[11] - The weighted average return on net assets increased by 0.78 percentage points to 2.81%, driven by revenue growth and increased gross profit[14] - The company reported new orders of RMB 17.94 billion in Q1 2022, representing a year-over-year increase of 14.7%[18] - As of March 31, 2022, total current assets amounted to RMB 69.92 billion, slightly up from RMB 69.85 billion at the end of 2021[21] - The company has ongoing strategies for market expansion and product development, although specific details were not provided in the extracted content[18] - Research and development expenses for Q1 2022 were RMB 454.69 million, down from RMB 550.95 million in Q1 2021[26] - The company has not identified any related party relationships or concerted actions among the top 10 shareholders[16]

Financial Performance - In 2021, Dongfang Electric achieved total operating revenue of RMB 47.819 billion, a year-on-year increase of 28.26%, marking a historical high[19]. - The total profit for the year was RMB 2.667 billion, reflecting a year-on-year growth of 29.02%[19]. - The net profit attributable to the parent company was RMB 2.289 billion, with a proposed cash dividend of RMB 2.30 per 10 shares, totaling RMB 717.37 million[19]. - Total operating revenue for 2021 reached ¥47.82 billion, an increase of 28.26% compared to ¥37.28 billion in 2020[30]. - Net profit attributable to shareholders was ¥2.29 billion, up 22.93% from ¥1.86 billion in 2020[30]. - Basic earnings per share increased by 21.67% to ¥0.73, compared to ¥0.60 in 2020[31]. - The net cash flow from operating activities showed a net outflow of ¥4.42 billion, worsening from a net outflow of ¥2.75 billion in 2020[30]. - The company's total assets increased by 5.43% to ¥103.10 billion from ¥97.80 billion in 2020[30]. - The weighted average return on net assets rose to 7.20%, an increase of 1.01 percentage points from 6.19% in 2020[31]. - The net profit after deducting non-recurring gains and losses was ¥1.76 billion, a 15.31% increase from ¥1.53 billion in 2020[30]. Operational Highlights - Significant projects included the successful operation of the Baihetan hydropower unit and the Longshan pumped storage unit, both achieving excellent performance metrics[19]. - The company reported a total of RMB 526.062 million in non-recurring gains and losses for 2021, compared to RMB 333.085 million in 2020[37]. - The company secured new orders worth RMB 56.392 billion in 2021, representing a year-on-year growth of 14.15%, with clean and efficient energy equipment accounting for 25.81% of new orders[41]. - The wind power sector's revenue share increased to 26.4%, while coal power's revenue share fell below 20%[44]. - The company maintained zero major risk events and quality issues throughout the year, ranking first in reliability among domestic thermal power units[48]. Research and Development - Research and development expenses amounted to RMB 2.722 billion, constituting 5.69% of operating revenue, with significant achievements in core technology innovations[42]. - The company has established innovation alliances with over 70 domestic enterprises to enhance technological innovation capabilities[42]. - The company invested CNY 2.722 billion in R&D in 2021, accounting for 5.82% of its revenue, and obtained 401 authorized patents during the year[55]. - The company has developed a complete hydrogen energy integration solution, including a 100kW hydrogen fuel cell system, and has operated hydrogen fuel buses for nearly 10 million kilometers[53]. - The company is committed to strengthening R&D investment and accelerating breakthroughs in key core technologies, with a three-year action plan for technological innovation[112]. Governance and Compliance - The company has implemented comprehensive governance reforms, enhancing internal management and risk control systems[19]. - The company has established a comprehensive governance structure, including various committees to ensure effective oversight and compliance with regulations[153]. - The financial report for 2021 was audited by Dahua Certified Public Accountants, confirming that it accurately reflects the company's financial status and operational results[144]. - The supervisory board found that related party transactions were conducted fairly and transparently, with no harm to the interests of the company or its shareholders[145]. - The company has complied with significant laws and regulations, including the Company Law and Securities Law, during the reporting period[133]. Market and Strategic Outlook - The forecast for national electricity consumption growth in 2022 is between 5% to 6%, with an expected new installed capacity of approximately 230 million kilowatts[104]. - By the end of 2022, the total installed power generation capacity is projected to reach around 2.6 billion kilowatts, a year-on-year increase of about 9%[104]. - The company is focusing on green and low-carbon development, with an emphasis on renewable energy sources such as wind and solar power[104]. - The company aims to address the "bottleneck" issues in the energy sector through technological innovation and upgrades in coal power utilization[104]. - The company anticipates intensified market competition in the energy equipment industry due to the national energy "14th Five-Year Plan," necessitating improved cost control and product competitiveness[124]. Social Responsibility - The company donated approximately RMB 27.277 million for charitable purposes during the reporting period[133]. - The company has maintained stable and good relationships with customers and suppliers, emphasizing talent management and employee training[129].

Financial Performance - Total operating income for the first half of 2021 reached RMB 22.74 billion, an increase of 28.07% compared to RMB 17.75 billion in the same period of 2020[12]. - Net profit attributable to shareholders of the parent company was RMB 1.35 billion, up 41.27% from RMB 954 million in the previous year[12]. - Basic earnings per share increased to RMB 0.43, representing a growth of 38.71% compared to RMB 0.31 in the same period last year[14]. - The total profit reached RMB 1.629 billion, with a year-on-year growth of 41.74%[22]. - The net profit after deducting non-recurring gains and losses was RMB 1.23 billion, a 24.96% increase from RMB 982 million in the previous year[12]. - The company achieved total operating revenue of RMB 22.737 billion, representing a year-on-year increase of 28.07%[22]. - The wind power segment saw a revenue increase of 267.62%, significantly contributing to overall growth[39]. - Total revenue from renewable energy equipment rose by 145.94%, driven by strong sales in wind power products[39]. Assets and Liabilities - The company's total assets as of June 30, 2021, were RMB 99.51 billion, a 1.75% increase from RMB 97.80 billion at the end of 2020[13]. - Total liabilities increased to RMB 64.96 billion, up from RMB 64.15 billion year-over-year, representing a growth of 1.27%[147]. - The asset-liability ratio improved slightly to 65.28%, down 0.32 percentage points from the beginning of the year, indicating manageable asset structure risk[50]. - The company's current assets totaled RMB 75.64 billion, up from RMB 70.67 billion year-on-year, reflecting a growth of approximately 7.5%[146]. - The total liabilities decreased to RMB 16,244,890,888.57 from RMB 17,005,260,433.11, a reduction of 4.5%[152]. Cash Flow - Cash flow from operating activities showed a negative net amount of RMB 4.66 billion, compared to a positive RMB 972 million in the same period last year[12]. - Cash flow from operating activities showed a net outflow of RMB 4,662,670,603.55, a decline from a net inflow of RMB 972,054,379.41 in the previous year[155]. - Cash and cash equivalents decreased to ¥25,798,893,048.69, a decline of 3.33% compared to the beginning of the period[45]. - The cash balance at the end of the period was 4,559,041,927.22 RMB, down from 5,477,377,691.72 RMB, a decrease of approximately 16.7%[156]. Research and Development - The company is focusing on research and development of new products to meet market demands and improve competitiveness[5]. - Research and development expenses increased by 17.18% to RMB 1.034 billion, reflecting intensified investment in key projects[33]. - Research and development expenses rose to RMB 1,034,076,117.49, an increase of 17.2% from RMB 882,438,413.90 in the previous period[153]. Market Strategy - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[5]. - The company plans to enhance cost control and market expansion in response to intensified competition in the traditional coal power market[55]. - The company is actively pursuing new market opportunities in emerging industries to accelerate structural transformation[55]. - The company aims to strengthen its international market development capabilities in response to challenges posed by the COVID-19 pandemic and global economic downturn[59]. Employee and Management - As of June 30, 2021, the company has a total of 17,837 employees and paid employee compensation of RMB 1,078.01 million during the reporting period[75]. - The company has established a training plan requiring each employee to complete at least 90 hours of training annually to enhance professional capabilities[75]. - The company has appointed new board members and management, including the election of Yu Peigen as Chairman and the appointment of Hu Xiukui as Vice President[67][70]. Shareholder Information - The company distributed a cash dividend of RMB 561,532,703 (pre-tax) to shareholders for the year 2020, amounting to RMB 1.80 per 10 shares[71]. - The board of directors proposed not to distribute an interim dividend for the six months ending June 30, 2021[72]. - The total number of ordinary shares is 3,119,764,130, with the largest shareholder, Dongfang Electric Group, holding 55.39%[116]. Corporate Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[95]. - The company’s audit and review committee has approved the interim results for the six months ending June 30, 2021[98]. - The company has not been involved in any significant litigation or arbitration as of June 30, 2021, and there are no ongoing significant claims that threaten the company[109]. Financial Instruments and Risk Management - The company is actively managing foreign exchange risks through hedging tools to mitigate the impact of currency fluctuations on financial performance[61]. - The company assesses expected credit losses for financial assets measured at amortized cost and debt instruments measured at fair value, considering all reasonable and supportable information[188]. - Financial liabilities are derecognized when the current obligation is fully or partially discharged, or when a new financial liability is recognized that has substantially different terms[186].

Financial Performance - In 2020, the company achieved total operating revenue of 37.28 billion yuan, a year-on-year increase of 13.5%[18] - The net profit attributable to shareholders of the listed company was 1.86 billion yuan, representing a year-on-year growth of 45.7%[18] - Total operating revenue for 2020 reached RMB 37.28 billion, an increase of 13.53% compared to RMB 32.84 billion in 2019[32] - Net profit attributable to shareholders for 2020 was RMB 1.86 billion, representing a growth of 45.73% from RMB 1.28 billion in 2019[32] - Basic earnings per share for 2020 increased by 46.34% to RMB 0.60, up from RMB 0.41 in 2019[33] - The net profit after deducting non-recurring gains and losses for 2020 was RMB 1.53 billion, up 44.51% from RMB 1.06 billion in 2019[32] - The weighted average return on net assets for 2020 was 6.19%, an increase of 1.79 percentage points from 4.40% in 2019[33] - The company reported a gross margin of 22.32% in the power generation equipment manufacturing sector, a decrease of 1.49 percentage points compared to the previous year[68] - The company’s cash dividend payout ratios for the last three years were 30.12% for 2018, 50.04% for 2019, and 30.16% for 2020[155] Operational Highlights - The total output of power generation equipment reached 24.883 million kilowatts, an increase of 30.4% compared to the previous year[18] - New effective orders amounted to 49.4 billion yuan, a year-on-year increase of 23.1%, marking the best performance during the "13th Five-Year Plan" period[18] - The company maintained a strong market position, holding one-third of the domestic market share in the large and medium-sized thermal power market[18] - The company secured significant orders in the renewable energy sector, including batch orders for 7MW and 10MW offshore wind turbines[18] - The company successfully launched the world's first 1 million kW hydropower unit rotor at the Baihetan project in 2020[45] - The company established 55 overseas marketing agencies in 35 countries, contributing to stable overseas business development[48] Research and Development - The company invested RMB 2.003 billion in R&D in 2020, accounting for 5.5% of its operating revenue, and added 370 new effective patents[45] - Research and development investment for the year was 2.003 billion yuan, a year-on-year increase of 6.06%[56] - The company’s effective patents totaled 2,690 by the end of 2020, including 999 invention patents[45] - The company achieved a significant breakthrough in the development of a 50 MW heavy-duty gas turbine, filling a domestic technology gap[84] - The company’s R&D personnel accounted for 20.9% of the total workforce, with 3,615 employees dedicated to R&D[82] Market Strategy and Future Plans - The company plans to continue focusing on its core business and aims to enhance shareholder value in 2021[20] - The company plans to continue expanding its market presence and enhancing product quality to drive future growth[34] - The company aims to achieve a power generation equipment output of 30 million kilowatts in 2021, with steady growth in operating income and continuous improvement in total profit[106] - The company is committed to increasing market development efforts, particularly in the water and fire power sectors, and expanding into emerging markets such as energy conservation and environmental protection[112] - The company plans to enhance its digital transformation, focusing on improving digital, networked, and intelligent capabilities across manufacturing, services, and management[107] Risk Management and Compliance - The company aims to enhance risk management by integrating risk, compliance, and internal control systems to prevent major risks[114] - The company plans to optimize its risk warning indicator system and strengthen quality management to avoid significant quality risks[114] - The company has not engaged in any significant acquisitions or disposals of subsidiaries or joint ventures during the reporting period[130] - The company adheres to relevant laws and regulations, including the Company Law of the People's Republic of China and the Corporate Governance Code[131] Corporate Governance - The company completed 190 items of information disclosure in 2020, ensuring compliance with regulations and effective corporate governance[60] - The Supervisory Board held six meetings during the reporting period, ensuring compliance with relevant laws and regulations[136] - The company’s 2020 financial report was audited by Da Hua Certified Public Accountants, which issued a standard unqualified opinion[143] - The Supervisory Board found no violations of laws or regulations in the company’s operations and confirmed that the 2020 annual report accurately reflects the company's situation[142] Shareholder Engagement - The company completed a restricted stock incentive plan and is actively promoting various long-term incentive schemes[20] - In 2020, the company achieved a net profit attributable to shareholders of 1,861,998,155.29 CNY, proposing a cash dividend of 1.80 CNY per 10 shares, totaling 561,532,703.40 CNY, pending shareholder approval[155] - The cash dividend distribution policy stipulates that if the net profit is positive and the cumulative distributable profit at year-end is positive, at least 30% of the average distributable profit over the last three years must be distributed in cash[151] Social Responsibility - The company made charitable donations totaling approximately 47.40 million yuan for the year ended December 31, 2020[133]

Financial Performance - Total operating income for the first half of 2020 reached RMB 17.75 billion, an increase of 12.07% compared to RMB 15.84 billion in the same period of 2019[12]. - Net profit attributable to shareholders of the parent company was RMB 954.37 million, representing a growth of 30.79% from RMB 729.69 million year-on-year[12]. - Basic earnings per share increased to RMB 0.31, up 29.17% from RMB 0.24 in the previous year[14]. - The company achieved total operating revenue of RMB 17.753 billion, an increase of 12.07% year-on-year[22]. - Net profit attributable to shareholders reached RMB 954 million, up 30.79% compared to the same period last year[22]. - The company reported a comprehensive gross profit margin of 21.14% for the first half of 2020[22]. - The total revenue for the reporting period increased by 12.07% year-on-year, with domestic revenue growing by 8.08% and overseas revenue increasing by 48.59%[48]. - The total profit for the first half of 2020 was RMB 591,973,461.14, up 52.2% from RMB 388,738,680.45 in the same period last year[181]. - The company reported a comprehensive income of RMB 390,987,988.78 for the first half of 2020[189]. Assets and Liabilities - The company's total assets as of June 30, 2020, were RMB 92.74 billion, a 3.48% increase from RMB 89.62 billion at the end of 2019[13]. - Total liabilities increased to RMB 60.42 billion, up from RMB 57.82 billion year-over-year, representing a growth of approximately 4.3%[175]. - Current liabilities totaled RMB 52.27 billion, an increase from RMB 49.45 billion, reflecting a rise of about 5.5%[175]. - The company's asset-to-liability ratio at the end of the reporting period was 65.16%, an increase of 0.64 percentage points from the beginning of the year, indicating a controllable asset structure risk[40]. - The total equity of the company slightly decreased to RMB 24,437,787,600.55 from RMB 24,477,448,268.52, indicating a marginal decline[179]. Cash Flow - Cash flow from operating activities was RMB 972.05 million, showing a significant recovery compared to the previous year's negative cash flow[12]. - The net cash flow from operating activities increased by RMB 4.222 billion year-on-year, attributed to higher collections and increased cash inflows from financial business investments[34]. - Cash inflow from operating activities totaled 3,258,895,118.61 RMB, compared to 2,643,396,109.65 RMB in the previous year, representing an increase of approximately 23.2%[184]. - The company reported a net cash outflow from investment activities of RMB -2,105,228,811.78, worsening from RMB -1,306,576,124.09 in the same period last year[182]. Research and Development - Research and development efforts are focused on innovative energy solutions to meet growing market demands[1]. - Research and development expenses increased by 12.28% year-on-year, reflecting the company's continued investment in R&D[34]. - Research and development expenses rose to RMB 882,438,413.90, an increase of 12.3% from RMB 785,932,757.27 in the previous year[180]. Market Expansion and Strategy - The company plans to continue expanding its market presence and invest in new technologies to enhance operational efficiency[1]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[1]. - Future performance guidance indicates a positive outlook with expected revenue growth driven by increased demand in the energy sector[1]. - The company is actively transforming and upgrading its operations, focusing on optimizing resource allocation and enhancing quality management[44]. Shareholder and Equity Management - The company distributed a cash dividend of RMB 2.05 per 10 shares, totaling RMB 639,352,386.65 before tax, approved at the 2019 annual general meeting[65]. - The company will not distribute interim dividends for the six months ending June 30, 2020, maintaining a conservative approach amid market uncertainties[66]. - The total number of ordinary shareholders reached 111,389 by the end of the reporting period[134]. - The largest shareholder, China Eastern Electric Group Co., Ltd., holds 1,727,919,826 shares, representing 55.40% of total shares[137]. Operational Challenges - The COVID-19 pandemic has impacted production capacity, leading to potential delays in contract execution, which the company is actively managing through communication with clients[59]. - The company is facing intensified market competition, prompting it to optimize technical solutions and contract conditions to enhance product competitiveness[61]. - The company is committed to scientific prevention and control of the pandemic while ensuring production continuity to minimize operational disruptions[58]. Corporate Governance - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[101]. - The company has established an audit and supervisory committee composed of three independent non-executive directors to review financial reports[104]. - The company confirms compliance with the Hong Kong Stock Exchange's securities trading standards for directors and supervisors during the reporting period[105].

Financial Performance - In 2019, the net profit attributable to the parent company reached RMB 1.277 billion, representing a year-on-year increase of 13.19%[17] - The total revenue for 2019 was RMB 32.84 billion, an increase of 6.95% compared to the previous year[17] - New contracts signed amounted to RMB 40.184 billion, reflecting a growth of 15.03% year-on-year[17] - Total operating revenue for 2019 was RMB 32,840,321,080.22, an increase of 6.95% compared to 2018[29] - Net profit attributable to shareholders for 2019 reached RMB 1,277,671,818.13, reflecting a growth of 13.19% year-on-year[29] - The net profit after deducting non-recurring gains and losses was RMB 1,057,975,035.54, which is a significant increase of 35.24% from the previous year[29] - Basic earnings per share for 2019 was RMB 0.41, up 10.81% from RMB 0.37 in 2018[30] - The weighted average return on net assets increased to 4.40%, up 0.5 percentage points from 3.90% in 2018[30] - The company achieved a total profit of RMB 1.579 billion, representing a year-on-year growth of 23.76%[41] - The comprehensive gross profit margin improved to 23.81%, an increase of 0.81 percentage points compared to the previous year[51] Market Position and Growth - The market share in the wind power industry increased from 3% in 2018 to 10% in 2019, with new contracts exceeding RMB 20 billion[17] - The wind power segment generated operating revenue of RMB 3.561 billion, a significant increase of 43.07% year-on-year, with new contracts exceeding RMB 20 billion[42] - The company’s order backlog at the end of 2019 was RMB 83.478 billion, with 60.7% from efficient clean energy equipment[44] - The company is actively pursuing new technologies, with significant advancements in energy storage systems and smart manufacturing applications[46] - The company aims to continue expanding its market presence and invest in new technologies to drive future growth[30] Innovation and R&D - The company launched several new products, including the first domestic F-class 50MW heavy gas turbine and a 1,000MW hydropower unit, achieving significant technological breakthroughs[19] - The company has developed advanced technologies for various power generation equipment, including a million-kilowatt hydropower unit and a 10-megawatt offshore wind turbine[38] - The company holds 2,347 valid patents as of the end of 2019, including 922 invention patents, reflecting its strong innovation capabilities[38] - Research and development expenses rose by 11.80% to RMB 1.89 billion, indicating a focus on innovation[53] - The company has successfully completed the development of the "Hualong One" nuclear power turbine generator set, marking a significant advancement in third-generation nuclear technology[72] Financial Management and Cash Flow - Cash flow from operating activities for 2019 was RMB 202,244,625.11, a recovery from a negative cash flow of RMB -551,780,305.01 in 2018[29] - The company’s cash flow from operating activities generated a net amount of RMB 2.02 billion, a significant turnaround from a negative cash flow of RMB 552 million in the previous year[76] - Cash inflow from operating activities for the year was RMB 36.437 billion, a 1.34% increase from RMB 35.956 billion in the previous year[76] - Cash outflow from operating activities decreased by 0.75% to RMB 36.235 billion from RMB 36.508 billion in the previous year, resulting in a net cash flow from operating activities of RMB 2.02 billion, an increase of RMB 7.54 billion year-on-year[76] Corporate Governance and Compliance - The financial report for 2019 received a standard unqualified audit opinion from the accounting firm[132] - The supervisory board confirmed that the 2019 annual report was prepared in compliance with relevant laws and regulations, reflecting the company's actual situation accurately[131] - The company has established a cash dividend policy, stipulating that if the net profit attributable to shareholders is positive, at least 30% of the average distributable profit over the last three years must be distributed in cash[141] - The company has engaged in significant ongoing related party transactions that are essential for its production and operations, contributing to stable development[175] Strategic Initiatives and Future Plans - For 2020, the company aims to continue its focus on innovation and reform, enhancing competitiveness and risk resistance while achieving high-quality development[20] - The company plans to enhance its core competitiveness by focusing on high-end fields and major technical equipment projects, such as the 50MW heavy-duty gas turbine and the 1,000MW mixed-flow hydropower generator set[102] - The company is focusing on the development of four new industries: chemical equipment, environmental protection, energy storage, and hydrogen energy, to boost growth in emerging sectors[102] - The company anticipates a 4.2% year-on-year growth in national electricity consumption for 2020, despite a declining growth rate[88] Social Responsibility and Community Engagement - The company emphasized social responsibility and achieved notable results in targeted poverty alleviation efforts[19] - The company is committed to expanding its international business and maintaining a high gross profit margin in import and export trade, industrial equipment, and engineering contracting[102] Risk Management - The company is focused on risk prevention, enhancing compliance management, and improving risk identification and control processes[107] - The company acknowledges the ongoing impact of the COVID-19 pandemic on operations and is implementing measures to mitigate its effects[108] - The company faces risks related to cash flow due to delays in project construction, prompting enhanced cash management strategies[110]

Financial Performance - Total operating revenue for the first half of 2019 was RMB 15.84 billion, a decrease of 4.44% compared to RMB 16.58 billion in the same period last year[11]. - Net profit attributable to shareholders for the first half of 2019 was RMB 729.69 million, an increase of 36.46% from RMB 534.71 million year-on-year[11]. - The net cash flow from operating activities was negative RMB 3.25 billion, a decline of 534.83% compared to RMB 747.37 million in the previous year[11]. - The company's total assets decreased by 5.43% to RMB 86.36 billion from RMB 91.32 billion at the end of the previous year[12]. - The net assets attributable to shareholders increased by 1.42% to RMB 28.99 billion from RMB 28.58 billion at the end of the previous year[12]. - Basic earnings per share for the first half of 2019 was RMB 0.24, up 41.18% from RMB 0.17 in the same period last year[12]. - The company's operating revenue decreased by 5.11% year-on-year, totaling approximately RMB 15.31 billion, primarily due to declines in the clean and efficient energy equipment, engineering, and trading sectors[39][41]. - Operating profit rose by 34.65% to RMB 895.91 million, compared to RMB 665.37 million in the previous year[80]. - Net profit increased by 41.82% to RMB 786.12 million, up from RMB 554.32 million year-on-year[80]. Revenue Breakdown - Revenue from clean and efficient energy equipment was RMB 8.71 billion, a decrease of 12.86% year-on-year[14]. - Revenue from renewable energy equipment increased by 17.66% to RMB 2.58 billion compared to the previous year[14]. - The comprehensive gross profit margin increased by 5.86 percentage points to 24.03% compared to the same period last year[25]. - Emerging growth industries saw a revenue increase of 12.36%, primarily driven by electronic power and smart control products[56]. - Renewable energy equipment revenue increased by 17.66% year-on-year, with hydropower product revenue growing by 58.94%[53]. Orders and Capacity - The company completed a power generation equipment output of 9.3342 million kW, a year-on-year decrease of 20.76%[27]. - New orders in the wind power sector reached RMB 8 billion, with significant progress in the development of new wind power products[27]. - The company secured new effective orders of RMB 4.29 billion in emerging growth industries, a year-on-year increase of 157.8%[32]. - The company’s total new orders for the first half of the year amounted to RMB 19.261 billion, an increase of 13.55% year-on-year[30]. - The company’s installed capacity of wind power equipment increased by 57.11% year-on-year, with significant advancements in product development[27]. Cash Flow and Investments - The net cash flow from investment activities decreased by 292.38% year-on-year, totaling approximately RMB -1.31 billion, driven by increased cash outflows from financial investments[39][42]. - The net cash flow from financing activities increased, with cash received from investments rising to RMB 150 million, marking a 100% increase[44][46]. - The company reported a significant increase of 419.48% in cash received from investment income, amounting to approximately RMB 305.70 million, due to increased dividends from joint ventures[46][46]. - The company temporarily used $500 million of idle raised funds to supplement working capital, with specific allocations of $180 million for the trial R&D enhancement project and $320 million for the gas turbine R&D project[125]. Research and Development - Research and development expenses surged by 82.12% year-on-year, reaching approximately RMB 785.93 million, reflecting the company's increased investment in R&D[39][42]. - The company is focusing on expanding its market presence in renewable energy and modern manufacturing services, with ongoing investments in new technologies[64]. Risk Management and Compliance - The company is enhancing project risk management, particularly for overseas projects, to mitigate operational risks and ensure normal cash flow[89]. - The company is implementing foreign exchange risk management strategies, including forward exchange contracts, to mitigate the impact of currency fluctuations on financial results[85]. - The company is actively managing risks associated with entrusted loans to ensure financial stability and mitigate potential losses[102]. - The company has renewed its appointment of Lixin Certified Public Accountants for the 2019 annual audit[104]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 136,279[148]. - The largest shareholder, China Eastern Electric Group Co., Ltd., held 1,727,919,826 shares, representing 55.91% of total shares[150]. - The report indicates that there are 753,903,063 restricted shares held by China Eastern Electric Group, which will become tradable on June 12, 2021[167]. Corporate Governance - The company has fully complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[138]. - The company did not engage in any purchase, sale, or redemption of its listed securities during the reporting period[138]. - There were no significant acquisitions or disposals of subsidiaries or associates during the reporting period[138].