Financial Performance - In 2018, the company achieved a net profit attributable to shareholders of RMB 1.129 billion, a 6.77% increase compared to the restated net profit of RMB 1.057 billion in 2017[5]. - The total operating revenue for 2018 was RMB 30.706 billion, with a power generation equipment output of 22.76 million kilowatts[5]. - The total operating revenue for 2018 was approximately RMB 30.71 billion, a decrease of 8.15% compared to 2017[16]. - Net profit attributable to shareholders was approximately RMB 1.13 billion, an increase of 6.77% year-on-year[16]. - Basic earnings per share for 2018 was RMB 0.37, an increase of 8.82% from 2017[17]. - The company achieved a cash flow from operating activities of approximately RMB -551.78 million, a decline of 130.01% compared to the previous year[16]. - Total revenue decreased by 0.4% compared to 2017 (before retrospective adjustment)[18]. - Net profit attributable to shareholders increased by 67.71% compared to 2017 (before retrospective adjustment)[18]. - The gross profit margin improved to 23.00%, an increase of 2.18 percentage points from the previous year[41]. - The company reported a significant increase in profit before tax of 25.38%, reaching CNY 1,275,469,723.33 compared to CNY 1,017,278,838.50 in the previous period[80]. Business Growth and Strategy - The company signed new effective contracts worth RMB 34.93 billion, representing an 8.7% year-on-year growth[5]. - The company successfully implemented its three major strategic battles, with significant growth in the wind power industry and a 30% increase in new effective contracts in modern manufacturing services[5]. - The company plans to focus on the "12345" new development strategy in 2019, aiming for high-quality development and achieving the goals of the 13th Five-Year Plan[7]. - The company aims to enhance its core capabilities in power generation equipment manufacturing through the expansion of its business scope[2]. - The company aims to achieve a power generation capacity target of 2 billion kW by 2020, with a cumulative capacity of 1.9 billion kW reached by the end of 2018[29]. - The company plans to achieve an annual power generation equipment output of 21 million kilowatts in 2019, aiming to reverse the decline in operating revenue and ensure steady growth in revenue and profit[96]. - The company is focusing on structural adjustments and transformation, with a notable increase in revenue from emerging growth industries by 2.79%[50]. Market Position and Competition - The market share for 200MW and above thermal power units reached 46.3%, solidifying the company's position in the traditional hydropower market[5]. - The market share for nuclear island equipment reached 65.9%, while the conventional island market share was 44.9%[7]. - The company operates in nearly 70 countries and regions, maintaining a strong competitive position in the power generation equipment sector[23]. - The company is positioned as one of the three largest power generation equipment enterprises in China, facing increased competition and a shift towards clean energy development[92]. Research and Development - The company has made significant progress in technology research and development, receiving multiple national science and technology awards[7]. - The company has developed the world's largest single-unit capacity 1 million kW mixed-flow hydropower unit and achieved breakthroughs in key technologies[25]. - The company’s research and development efforts led to significant breakthroughs, including the completion of the construction design for the highest parameter 630℃ supercritical reheat unit in the country[38]. - Research and development expenses increased by 17.68% to RMB 1.69 billion, reflecting the company's focus on innovation[42]. - The number of R&D personnel reached 3,754, representing 21.32% of the total workforce[63]. International Expansion - The company expanded its international business, signing major projects such as the one in Egypt, indicating a positive development trend[5]. - The company completed the acquisition of assets from Dongfang Electric Group, enhancing its core competitiveness and expanding its business scope to include power electronics, smart control, finance, logistics, trade, new energy, and industrial intelligent equipment[25]. - The company is expected to see a significant increase in renewable energy investments, with an estimated total of $7.4 trillion allocated for new renewable energy investments from 2017 to 2040, accounting for 72% of total new power generation investments[28]. Social Responsibility and Compliance - The company is committed to social responsibility, achieving notable results in targeted poverty alleviation efforts[7]. - The company has adhered to relevant laws and regulations throughout the reporting period, ensuring compliance and protecting the rights of stakeholders[109]. - The company held a total of 7 supervisory board meetings in 2018, with all meetings complying with relevant laws and regulations[112]. - The company has actively engaged in social responsibility initiatives, as detailed in its 2018 Social Responsibility Report[174]. Financial Management and Shareholder Information - The total share capital increased from 2,336,900,368 shares to 3,090,803,431 shares following the acquisition of assets[2]. - The company plans to distribute a cash dividend of RMB 1.10 per 10 shares, totaling RMB 339.99 million[2]. - The company’s total liabilities increased by 33.73% to CNY 6,136,106,066.37, primarily due to the accrual of sales service fees[75]. - The company’s total equity attributable to shareholders increased to approximately ¥28.58 billion in 2018 from ¥27.32 billion in 2017, representing a growth of about 4.6%[173]. - The largest shareholder, China Eastern Electric Group Co., Ltd., holds approximately 55.91% of the total shares, with an increase of 753,903,063 shares during the reporting period[180].