Financial Performance - The company's operating revenue for Q1 2023 was CNY 45.33 billion, a decrease of 3.10% compared to CNY 46.78 billion in the same period last year[4] - Net profit attributable to shareholders was CNY 964.48 million, down 7.02% from CNY 1.04 billion year-on-year[4] - The net profit excluding non-recurring gains and losses increased by 4.18% to CNY 914.89 million from CNY 877.06 million in the previous year[4] - Basic earnings per share decreased by 6.90% to CNY 0.054 from CNY 0.058 in the same period last year[4] - The weighted average return on equity decreased by 0.231 percentage points to 2.116% compared to 2.347% in the previous year[4] - The net profit for Q1 2023 was CNY 2,355,025,944.53, a decrease of 15.7% compared to CNY 2,795,225,879.13 in Q1 2022[17] - The total comprehensive income for Q1 2023 was CNY 2,421,721,692.20, down from CNY 2,589,831,714.67 in Q1 2022[18] - The company reported a decrease in other comprehensive income, with a net amount of CNY 66,695,747.67 in Q1 2023, compared to a loss of CNY 205,394,164.46 in Q1 2022[17] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 7.79 billion, a decrease of 2.56% compared to CNY 7.99 billion last year[4] - The company's cash and cash equivalents as of March 31, 2023, amount to 26,254,546,523.88 RMB, an increase from 20,967,710,969.80 RMB as of December 31, 2022[13] - Cash flow from operating activities for Q1 2023 was CNY 7,788,761,905.01, slightly down from CNY 7,993,596,873.41 in Q1 2022[20] - Cash flow from investing activities showed a net outflow of CNY 7,081,941,566.96 in Q1 2023, compared to a net outflow of CNY 3,647,782,534.26 in Q1 2022[20] - Cash flow from financing activities resulted in a net inflow of CNY 4,613,363,471.66 in Q1 2023, contrasting with a net outflow of CNY 1,460,011,069.25 in Q1 2022[20] - The company's cash and cash equivalents at the end of Q1 2023 amounted to CNY 21,145,055,516.43, an increase from CNY 14,465,226,672.22 at the end of Q1 2022[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 423.07 billion, an increase of 2.47% from CNY 412.88 billion at the end of the previous year[4] - Current assets totaled ¥67,324,262,589.32, an increase from ¥58,617,184,093.27 in the previous year, indicating improved liquidity[14] - Total liabilities amounted to ¥310,304,912,362.86, up from ¥302,690,001,548.17, reflecting a growth of 2.0%[15] - Long-term borrowings increased to ¥156,162,944,543.53 from ¥149,640,259,387.98, indicating a rise of 4.0%[15] - The total assets as of March 31, 2023, amounted to CNY 116,629,058,079.37, compared to CNY 115,867,800,286.13 at the end of 2022, showing a slight increase of about 0.66%[22] - The total liabilities increased to CNY 78,318,694,553.64 from CNY 76,956,880,197.32, reflecting a rise of approximately 1.77%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 448,519, with the largest shareholder, State Energy Investment Group, holding 9,038,709,571 shares, representing 50.68% of the total[10] - The company has a total of 896,934,967 shares held by China Securities Finance Corporation, accounting for 5.03% of the total shares[10] - The report indicates that there are no significant changes in the status of shares held by major shareholders, with no pledges or freezes reported[10] Operational Insights - The decrease in operating revenue was attributed to the divestment of thermal power assets in the Ningxia region, resulting in a lower power generation volume compared to the previous year[9] - The decrease in net profit was primarily due to reduced investment income from joint ventures compared to the same period last year[9] - The company reported a significant increase in prepayments, rising to 6,928,004,204.55 RMB from 4,472,495,317.93 RMB, suggesting potential future revenue recognition[13] - The inventory level decreased to 5,251,507,025.46 RMB from 6,095,809,145.95 RMB, which may indicate improved inventory management or sales performance[13] - The company reported a decrease in inventory from CNY 95,447,344.43 to CNY 68,670,838.85, which is a reduction of approximately 28.1%[22] Research and Development - Research and development expenses for Q1 2023 were ¥52,497,872.34, compared to ¥45,876,238.09 in Q1 2022, marking an increase of 14.0%[16] - Research and development expenses for Q1 2023 were CNY 1,267,516.47, down from CNY 2,057,017.66 in Q1 2022, representing a decrease of approximately 38.3%[24] Future Outlook - The company has not disclosed any new product developments or technological advancements in this quarter's report[12] - There are no significant mergers or acquisitions reported during this period[12] - The company has not provided specific future guidance or outlook in the current report[12]

Financial Performance - The company's operating revenue for 2022 was approximately ¥192.68 billion, representing a 14.40% increase compared to the previous year[13]. - The net profit attributable to shareholders of the listed company was approximately ¥2.75 billion, a significant increase of 248.03% year-on-year[13]. - The net cash flow from operating activities reached approximately ¥39.45 billion, marking a 63.53% increase from the previous year[13]. - The total assets of the company as of the end of 2022 were approximately ¥412.85 billion, reflecting a 3.72% increase compared to the end of 2021[13]. - The net assets attributable to shareholders of the listed company were approximately ¥45.06 billion, an increase of 2.57% year-on-year[13]. - Basic earnings per share increased by 249.51% year-on-year to CNY 0.154, compared to a loss of CNY 0.103 in 2021[14]. - The weighted average return on equity rose by 9.191 percentage points to 6.094% in 2022, up from -3.097% in 2021[15]. - The company reported a net profit of CNY 2,719,600,803.26 in Q3 2022, with a significant drop to -CNY 2,267,844,761.31 in Q4 2022[18]. - The company achieved operating revenue of ¥192,680,636,477.15 in 2022, representing a year-on-year growth of 14.40% due to an increase in electricity selling prices[42]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥1.00 per 10 shares, amounting to approximately ¥1.78 billion, which represents 64.92% of the net profit attributable to shareholders[2]. - The net profit attributable to ordinary shareholders for 2022 was approximately 2.747 billion RMB, with a dividend payout ratio of 64.92%[125]. Operational Efficiency and Costs - Operating costs amounted to ¥166,699,417,918.56, up 6.80% year-on-year, primarily driven by rising coal prices[42]. - The company maintained a stable fuel supply, purchasing 195 million tons of raw coal in 2022, with long-term contract coal accounting for 97% of total purchases[23]. - The company’s investment activities generated a net cash outflow of ¥39,365,029,566.22, a 92.30% increase in outflow compared to the previous year[1]. - The company’s financing activities resulted in a net cash inflow of ¥4,153,010,178.14, a significant turnaround from a net outflow of ¥2,899,473,893.72 in the previous year, marking a 243.23% change[1]. Renewable Energy and Capacity - As of the end of 2022, the company's controlled installed capacity was 97.38 million kilowatts, a decrease of 2.42 million kilowatts from 2021, with significant increases in renewable energy capacity: 3.15 million kilowatts in wind power and 2.76 million kilowatts in solar power[23]. - The proportion of non-fossil energy generation capacity reached nearly 50% of the total installed capacity by the end of 2022, reflecting a strong trend towards green and low-carbon transformation[26]. - The company’s total installed capacity of non-fossil energy reached 20.9919 million kW by the end of 2022, accounting for 39.54% of total installed capacity[33]. - The company plans to increase N-type solar cell production to 118 GW in 2023, a growth of 436% compared to 2022[31]. Environmental and Social Responsibility - The company achieved a total investment of 9,637.87 million CNY in poverty alleviation and rural revitalization projects in 2022, with 7,062.37 million CNY allocated as funds[144]. - The company donated a total of 7,443.36 million CNY to 103 projects, including 6,939.58 million CNY for rural revitalization and 478.64 million CNY for public welfare donations[143]. - The company has committed to integrating conventional energy generation assets into Guodian Power, with a focus on supporting the development and management of these projects[147]. - The company has established a comprehensive ecological and environmental management system, ensuring 100% compliance in hazardous waste disposal and meeting major pollutant discharge standards[140]. Governance and Management - The company is enhancing its governance structure, having held 5 shareholder meetings and 8 board meetings during the reporting period, ensuring effective execution of resolutions[91]. - The company has received multiple awards for its investor relations and governance practices, including recognition from the "Best Value Delivery Investor Relations Team" and the "Outstanding Board of Directors" awards[91]. - The company maintains independence from its controlling shareholder, the State Energy Group, ensuring autonomy in operations and decision-making processes[92]. - The company’s management team includes key figures such as the Chairman Liu Guoyue and General Manager Jia Yanbing, with Jia receiving a pre-tax remuneration of 1.2491 million yuan in the reporting period[98]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, advising investors to be aware of investment risks[2]. - The company faces risks in the renewable energy sector, including policy dependency and increasing non-technical costs, while striving to enhance project development capabilities[88]. - The global economic recovery is weak, with significant inflationary pressures and tightening monetary policies in the US and Europe, leading to increased financial risks[85]. Investments and Acquisitions - The company completed the transfer of assets related to its Ningxia region, including 100% equity in Guoneng Ningxia Energy Sales Co., and various stakes in power generation companies, finalizing the transaction in September 2022[73]. - The company plans to acquire over 14 million kilowatts of new energy resources in 2023, with 12 million kilowatts approved and 9.6 million kilowatts under construction[81]. - The company has significant investments in other listed companies, including a 69.52% stake in China Shenhua and a 58.56% stake in Longyuan Power[178]. Financial Management and Debt - The company has a high level of share pledges, with the largest shareholder's pledged shares exceeding 80% of their holdings[180]. - The company has issued various bonds during the reporting period, including the 22 Guodian bonds with issuance prices ranging from CNY 1.71 to CNY 3.25[172]. - The company has successfully completed interest payments for multiple bonds, including 20 Guodian 01 and 21 Guodian 01, on scheduled dates in March and May 2022[186]. - The company has maintained a zero balance for unused funds across all bonds issued, demonstrating effective capital allocation[200].

证券代码：600795 证券简称：国电电力 公告编号：临2023-16 国电电力发展股份有限公司 关于召开2022年度网上业绩说明会的公告 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 担法律责任。 重要内容提示： （网址：http://roadshow.sseinfo.com/） （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 4 月 20 日(星期四)16:00 前登录上证路演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 GDpower@chnenergy.com.cn 进行提问。公司将在说明会上对投资者 普遍关注的问题进行回答。 国电电力发展股份有限公司（以下简称"公司"）已于 2023 年 4 月 15 日发布公司 2022 年年度报告，为便于广大投资者更全面深入 地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 4 月 21 日上午 9:00-10:00 举行 20 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 91.16 billion, an increase of 20.03% compared to CNY 75.95 billion in the same period last year[17]. - The net profit attributable to shareholders decreased by 22.10% to CNY 2.30 billion from CNY 2.95 billion year-on-year, primarily due to rising coal prices increasing operating costs[19]. - The net cash flow from operating activities increased by 84.35% to CNY 21.33 billion, driven by growth in main business income and VAT refunds[19]. - The basic earnings per share decreased by 19.88% to CNY 0.129 from CNY 0.161 in the previous year[18]. - The weighted average return on equity increased by 0.76 percentage points to 5.107% compared to 4.347% in the same period last year[18]. - The total profit for the same period was 6.594 billion RMB, showing a year-on-year growth of 0.76%[29]. - The net profit attributable to shareholders decreased by 22.10% to 2.295 billion RMB[29]. - The company reported a net profit of ¥5,056,798,668.41, compared to ¥5,030,258,222.24 in the previous year, showing a slight increase of 0.5%[138]. - The profit attributable to shareholders of the parent company decreased to ¥2,334,149,156.29 from ¥3,007,056,687.20, a decline of about 22.4%[138]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 412.43 billion, reflecting a 3.61% increase from CNY 398.06 billion at the end of the previous year[17]. - The net assets attributable to shareholders increased by 4.43% to CNY 45.88 billion from CNY 43.93 billion at the end of the previous year[17]. - The company's total liabilities reached ¥298,036,737,906.01, up from ¥286,736,405,211.22, marking an increase of about 4.5%[133]. - The company's equity attributable to shareholders rose to ¥47,899,156,408.83 from ¥45,914,483,878.50, reflecting an increase of approximately 4.3%[133]. - The debt-to-asset ratio was reported at 72.26%, a slight increase of 0.23 percentage points from the previous year[129]. - The total equity at the end of the first half of 2022 was approximately RMB 114.40 billion, a decrease from RMB 139.28 billion at the end of the previous year, representing a decline of about 17.8%[147]. Investments and Expenditures - The company invested 12.703 billion RMB in capital expenditures, with 5.506 billion RMB allocated to renewable energy projects, marking a 164.86% increase compared to the previous year[30]. - The company has significant investments in various renewable energy projects, with 100% equity stakes in multiple wind and solar power companies[52][53]. - The company reported a loss of ¥320,681,030.31 in the reporting period from its equity investments[55]. - The company’s investment in fixed assets and infrastructure reached ¥12.703 billion, a substantial increase of 144.55% year-on-year[51]. Cash Flow and Financing - The company reported a net cash flow from financing activities of ¥4,176,496,236.88, a significant increase of 146.98% year-on-year, attributed to an increase in interest-bearing debt[45]. - Cash and cash equivalents at the end of the period amounted to ¥22,052,358,838.97, reflecting an increase of 87.44% from the previous year[48]. - The company received CNY 26,000,000,000.00 in cash from borrowings, an increase from CNY 21,720,000,000.00 in the previous year, indicating a strategy to enhance liquidity[146]. - Cash outflow for debt repayment was CNY 20,354,523,673.35, down from CNY 23,086,000,000.00, suggesting improved debt management[146]. Operational Efficiency - The company generated 215.531 billion kWh of electricity, a year-on-year increase of 0.63%[29]. - The average coal price for the company was 968.22 RMB/ton, an increase of 230.35 RMB/ton year-on-year[29]. - The average utilization hours for power generation were 2,157 hours, an increase of 8 hours year-on-year[29]. - The company’s coal consumption per unit of electricity generated was 294.23 g/kWh, a decrease of 0.27 g/kWh year-on-year[29]. Environmental and Social Responsibility - The company is committed to enhancing its integrated management capabilities and accelerating its transition towards low-carbon, high-end, and digital operations[37]. - The company is actively promoting green and low-carbon development, focusing on reducing pollution and carbon emissions in line with national environmental protection goals[83]. - The company has implemented pollution prevention facilities in accordance with environmental protection requirements, ensuring all thermal units meet emission standards[77]. - The company has engaged in community support initiatives, including educational and infrastructure projects, to aid in poverty alleviation and rural revitalization[84]. Corporate Governance - The company held three temporary shareholder meetings in 2022, approving various proposals including the issuance of corporate bonds and the appointment of auditors[69]. - The company appointed Yang Fushuo as Chief Accountant and Zhu Jiangtao as Deputy General Manager in August 2022, while Tian Jingqi resigned from his positions[70]. - The company did not propose any profit distribution plan or capital reserve transfer to share capital during this reporting period[6]. - The company has a commitment to avoid non-operational occupation of funds and assets from Guodian Power without shareholder approval[88]. Market and Economic Conditions - The company faced macroeconomic risks due to the impact of the pandemic and geopolitical tensions, which affected economic stability and growth[64]. - The company anticipates a recovery in electricity demand as the domestic economy stabilizes, following a slowdown in growth due to the pandemic[65]. - The proportion of market-based electricity trading continues to increase, leading to greater uncertainty in the profitability of renewable energy projects due to price fluctuations[68].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 46.78 billion, an increase of 19.83% compared to CNY 30.66 billion in the same period last year[4]. - Net profit attributable to shareholders decreased by 50.87% to CNY 1.04 billion from CNY 1.66 billion year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 26.31% to CNY 877 million from CNY 1.16 billion in the previous year[4]. - Basic and diluted earnings per share decreased by 49.57% to CNY 0.058 from CNY 0.090 year-on-year[4]. - Total profit for Q1 2022 was approximately ¥3.70 billion, a decrease of 22.7% compared to ¥4.79 billion in Q1 2021[21]. - Net profit for Q1 2022 was approximately ¥2.80 billion, down 27.6% from ¥3.86 billion in Q1 2021[21]. - Total comprehensive income for Q1 2022 was approximately ¥2.59 billion, a decrease of 34.8% from ¥3.98 billion in Q1 2021[22]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 3.49% to CNY 7.99 billion compared to CNY 6.66 billion in the same period last year[4]. - The company's operating cash flow for Q1 2022 was approximately ¥7.99 billion, an increase of 3.5% compared to ¥7.72 billion in Q1 2021[24]. - Cash inflow from operating activities totaled approximately ¥60.19 billion in Q1 2022, up from ¥45.90 billion in Q1 2021, marking a growth of 31.1%[23]. - Cash outflow from operating activities was approximately ¥52.20 billion in Q1 2022, compared to ¥38.17 billion in Q1 2021, an increase of 36.8%[24]. - The net increase in cash and cash equivalents for Q1 2022 was approximately ¥2.89 billion, compared to ¥1.25 billion in Q1 2021, representing a year-over-year increase of 130.0%[25]. - The total cash and cash equivalents at the end of Q1 2022 reached approximately ¥14.47 billion, up from ¥12.07 billion at the end of Q1 2021, indicating a growth of 20.0%[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 401.31 billion, an increase of 0.82% from CNY 397.91 billion at the end of the previous year[4]. - The company's total liabilities amounted to ¥287,435,624,600.96 as of March 31, 2022, slightly up from ¥286,736,405,211.22 at the end of 2021[18]. - Total liabilities as of March 31, 2022, were approximately ¥75.80 billion, a slight decrease from ¥75.91 billion at the end of 2021, showing a reduction of 0.1%[28]. - The total equity attributable to shareholders reached ¥46,551,758,688.45, an increase from ¥45,898,223,028.81 in the previous quarter[18]. - The company's total equity stood at ¥36,791,806,338.32 as of January 1, 2022[40]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 544,884[9]. - The company reported a total of 9,038,709,571 shares held by the largest shareholder, the State Energy Investment Group, indicating significant ownership concentration[11]. Costs and Expenses - The total operating costs for Q1 2022 were ¥43,483,194,674.12, up from ¥35,184,925,266.71 in Q1 2021, reflecting a growth of 23.5%[19]. - Research and development expenses increased to ¥45,876,238.09 in Q1 2022, compared to ¥39,431,731.08 in Q1 2021, marking a rise of 16.2%[19]. - The financial expenses for Q1 2022 were ¥343,262,051.22, compared to ¥286,945,009.59 in Q1 2021, showing an increase of about 19.5%[29]. Inventory and Receivables - The company's inventory decreased to ¥5,354,973,463.28 from ¥7,254,000,640.87, showing a decline of about 26.2%[16]. - Accounts receivable increased to ¥21,320,687,797.86 from ¥20,440,118,771.63, indicating a growth of approximately 4.3%[14]. - The total receivables, including accounts receivable, amounted to RMB 20.44 billion, highlighting the company's credit management[33]. Investment and Development - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[36]. - The company reported investment income of ¥132,671,249.22 in Q1 2022, compared to ¥73,983,709.30 in Q1 2021, reflecting an increase of approximately 79.2%[29].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥59.87 billion, representing a 13.86% increase compared to the same period last year[16]. - The net profit attributable to shareholders for the first half of 2021 was ¥2.06 billion, a significant turnaround from a loss of ¥1.76 billion in the same period last year, marking a 216.77% increase[16]. - Basic earnings per share for the first half of 2021 were ¥0.127, up 296.88% from ¥0.032 in the previous year[17]. - The weighted average return on net assets increased to 4.56%, up 3.345 percentage points from 1.21% in the same period last year[17]. - The net profit attributable to shareholders increased by 272.82% year-on-year, primarily due to profit growth in the new energy sector and reduced financial expenses from lower financing scale[19]. - Basic earnings per share rose by 296.88% year-on-year, driven by increased net profit and a reduction in shares outstanding due to stock repurchases[19]. - The company reported a significant increase in the basic earnings per share after deducting non-recurring gains and losses, which was ¥0.113 compared to a loss of ¥0.090 in the previous year, marking a 225.56% increase[17]. Assets and Liabilities - The total assets of the company as of the end of the reporting period were ¥345.03 billion, a decrease of 3.45% compared to the previous year[16]. - The company's net assets attributable to shareholders increased to ¥50.27 billion, reflecting a 0.57% increase from ¥49.98 billion at the end of the previous year[16]. - The total liabilities decreased from CNY 238.82 billion to CNY 225.39 billion, a reduction of approximately 5.5%[122]. - The company's total equity increased from CNY 118.54 billion to CNY 119.64 billion, an increase of about 0.9%[122]. Cash Flow - The net cash flow from operating activities for the first half of 2021 was ¥10.51 billion, down 21.94% from ¥13.46 billion in the same period last year[16]. - Cash and cash equivalents at the end of the period amounted to ¥12,098,427,722.32, a 28.34% increase from ¥9,426,990,221.84 at the end of the previous year[38]. - The company reported a cash inflow from investment activities of CNY 7,406,401,688.00, a significant increase from CNY 440,533,901.63 in the previous year[131]. - The total cash inflow from financing activities was 21,778,784,044.86 CNY, compared to 25,899,798,888.89 CNY in the same period last year[134]. Operational Highlights - As of June 30, 2021, the company's controlled installed capacity reached 82.3979 million kilowatts, with clean and renewable energy accounting for 27.16% of the total[22]. - The company completed a total power generation of 177.952 billion kilowatt-hours in the first half of 2021, representing a year-on-year growth of 14.26%[26]. - The average on-grid electricity price was CNY 349.35 per MWh, a decrease of CNY 7.20 per MWh compared to the previous year[32]. - The company is actively developing large offshore wind power projects and promoting significant growth in the renewable energy sector[27]. Environmental Responsibility - The company reported that all major power plants met environmental standards for pollutant emissions, with specific SO2 emissions ranging from 0.03 to 0.08 g/kWh across various plants[63]. - The company has implemented ultra-low emission modifications for all operational units, achieving world-class pollutant emission control levels[71]. - The company is committed to reducing carbon emissions and enhancing ecological governance through coordinated pollution reduction and carbon reduction efforts[72]. - The company has established emergency response plans for environmental incidents across all its coal-fired enterprises[67]. Corporate Governance - The company has appointed new executives, including a new chairman and general manager, to strengthen leadership and governance[56]. - The company’s board of directors underwent significant changes, with multiple resignations and appointments in June 2021[58]. - The company confirmed that all emissions from its facilities are in compliance with the relevant permits and standards[63]. - The company has not reported any significant related party transactions during the reporting period[91]. Strategic Initiatives - The company is focusing on digital adaptation to enhance its ability to respond to market changes and improve profitability in the face of increasing market competition[50]. - The company plans to optimize its coal power structure and enhance flexibility to adapt to new carbon trading policies, aiming for high-quality development in the coal power sector[49]. - The company is committed to promoting the integration of renewable energy projects and enhancing energy storage capabilities to support sustainable development[49]. - The company plans to gradually integrate conventional energy generation assets into Guodian Power, with priority rights for project development and management granted to Guodian Power[75]. Risks and Challenges - The company faces risks from the ongoing COVID-19 pandemic, with potential impacts on domestic economic recovery, electricity demand, and supply chains[49]. - The coal market is experiencing high prices due to tight supply, with historical highs reached in the first half of the year; however, prices are expected to decline in the second half while remaining volatile[51]. - The electricity market is transitioning to a spot market, which will increase operational challenges for power generation units, necessitating improved management and efficiency[52]. Shareholder Information - The largest shareholder, State Energy Investment Group, holds 9,038,709,571 shares, representing 46.00% of total shares[98]. - The company completed a share repurchase of 740,382,832 shares, representing 3.77% of the total share capital, at an average price of RMB 2.16 per share, totaling RMB 159,904.10 million[95]. - The company has a total of 542,807 ordinary shareholders as of the end of the reporting period[97]. - China Securities Finance Corporation reduced its holdings by 62,210,300 shares, now holding 896,934,967 shares, which is 4.56%[98]. Financial Instruments and Reporting - The company recognizes revenue when control of goods is transferred to customers, ensuring contracts meet specific criteria[199]. - The company employs the percentage-of-completion method for service revenue when the completion progress can be reliably determined[200]. - The company recognizes financial liabilities at initial recognition as either measured at fair value with changes recognized in profit or loss or other financial liabilities[164]. - The company assesses expected credit losses for receivables based on their credit risk characteristics, categorizing them into different groups[169].