证券代码：600875 股票简称：东方电气 编号：2024-025 东方电气股份有限公司 董事会十届三十七次会议决议公告 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个别及连带责任。 本议案经全体独立董事事前认可并出具同意该议案的独立意见。 1 本议案表决情况：有效票 3 票，同意 3 票，反对 0 票，弃权 0 票。 特此公告。 东方电气股份有限公司董事会 2024 年 4 月 11 日 一、董事会会议召开情况 东方电气股份有限公司（以下简称公司）董事会十届三十七次会议以书面方式 召开，于 2024 年 4 月 11 日形成有效决议。应参加本次董事会的董事 8 人，实际参 加董事 8 人。本次董事会会议按照有关法律、行政法规及公司章程的规定召开，会 议及通过的决议合法有效。 二、董事会会议审议情况 本次董事会会议形成如下决议： （一）审议通过《关于公司向特定对象发行 A 股股票所涉标的资产相关加期审计 报告的议案》 鉴于公司 2023 年度向特定对象发行 A 股股票相关申报文件中的财务数据已过有 效期，公司聘请立信会计师事务所（特殊 ...

东方电气股份有限公司独立董事 关于董事会十届三十七次会议相关事项的独立意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司证券发 行注册管理办法》《上市公司独立董事管理办法》等有关法律、法规和规范性文 件以及《东方电气股份有限公司章程》（以下简称《公司章程》）的规定，我们作 为东方电气股份有限公司（以下简称公司）的独立董事，基于独立判断的立场， 认真审阅并核查了公司董事会十届三十七次会议议案及相关文件，对《关于公司 向特定对象发行 A 股股票所涉标的资产相关加期审计报告的议案》发表独立意 见如下： 2024 年 4 月 11 日 立信会计师事务所（特殊普通合伙）以 2023 年 12 月 31 日为审计基准日对 本次交易的标的公司东方电气集团东方电机有限公司、东方电气集团东方汽轮机 有限公司、东方电气集团东方锅炉股份有限公司、东方电气（广州）重型机器有 限公司进行了补充审计并出具了相应审计报告；该等审计报告符合客观、独立、 公正的原则。 1 综上，我们认为，上述议案符合有关法律、法规、规范性文件及《公司章程》 等规定，不存在损害公司利益及全体股东特别是中小股东利益的情形。 独立董事：刘登清、黄 ...

东方电气股份有限公司 DEC) 2023 东 方 电 气 股 份 有 限 公 司 环境、社会及管治报告 P O C O O O �������� 2 目 录 CONTENTS 关于我们 01 关于本报告 05 07 ESG管理 专题故事: 13 最美东方人物,致敬劳动模范 新征程 01 共建和谐生态 | 深化合作共赢 | 37 | | --- | --- | | 关爱员工发展 | 40 | | 客户服务 | 45 | | 奉献社会 | 47 | 乘风起 03 同创一流电气 | 公司治理达一流 | 55 | | --- | --- | | 诚信经营创一流 | 60 | | 安全管理促一流 | 63 | | 科技创新争一流 | 65 | TCFD 报告:应对气候变化 | 治理与策略 | 67 | | --- | --- | | 气候情景分析 | 67 | | 气候相关机遇与策略 | 70 | | 应对风险,抓住机遇 | 70 | | 指标与目标 | 74 | | 未来展望 | 75 | | --- | --- | | 附录 | 77 | | 指标索引 | 80 | | 意见反馈 | 83 | 24 | 科技赋能新 ...

证券代码：600875 证券简称：东方电气 公告编号：2024-023 东方电气股份有限公司 关于召开 2024 年第二次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第二次临时股东大会 召开的日期时间：2024 年 4 月 19 日 9 点 00 分 召开地点：中国四川省成都市高新西区西芯大道 18 号本公司会议室 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年4月19日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 4 月 19 日 至 2024 年 4 月 19 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 ...

上 市 公 司 电力设备 2024 年04月 01 日 东方电气 (600875) 公 司 研 究 ——订单持续高增，看好电源装备及电站服务继续兑现 公 司 点 报告原因：有业绩公布需要点评 评 买入 投资要点： （维持）  事件：公司发布2023年报，公司实现营业总收入606.77 亿元，yoy +9.60%；归母净利 润35.50亿元，yoy +24.23%，同时每股分红0.475元，公司业绩表现符合预期。 证 市场数据： 2024年03月29日 券 收盘价（元） 15.75  火电、核电、气电及电站服务快速增长，其他收益及投资收益对利润也有较大贡献。2023 研 一年内最高/最低（元） 20.15/13.14 年公司火电实现收入139亿，yoy +29%，核电实现收入29亿，yoy +41%，燃气实现收 究 市净率 1.3 报 息率（分红/股价） - 入38亿，yoy +107%，电站服务实现收入38亿，yoy +49%。此外，其他收益（主要为 告 流通A股市值（百万元） 31867 新增先进制造企业增值税加计抵减1.85亿元）及投资收益（主要为处置长期股权增加3.7 上证指数/深证成指 3041. ...

证券研究报告 | 2024年03月29日 东方电气（600875.SH） 增持 全年订单增长超三成，火电盈利稳步提升 核心观点 公司研究·财报点评 公司2023年实现归母净利润35.5亿元，同比增长24%。2023年公司实现营 电力设备·其他电源设备Ⅱ 业收入606.8亿元，同比增长10%；实现归母净利润35.5亿元，同比增长 证券分析师：王蔚祺 证券分析师：陈抒扬 24%；实现扣非归母净利润25.8亿元，同比增长8%。对应23Q4单季度公司 010-88005313 0755-81982965 wangweiqi2@guosen.com.cnchenshuyang@guosen.com.cn 实现营业收入159.1亿元，同比增长7%，环比增长7%；实现归母净利润6.4 S0980520080003 S0980523010001 亿元，同比增长78%，环比下滑30%；实现扣非归母净利润-1.1亿元，同比 基础数据 下滑146%，环比下滑113%。 投资评级 增持(维持) 合理估值 煤电设备及现代制造服务业利润稳步增长，风电亏损拖累业绩。公司业务主 收盘价 15.75元 要分为可再生能源装备、清洁高效能源装备、 ...

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 3,550,393,576.32 in 2023, an increase of 24.23% compared to RMB 2,857,898,505.21 in 2022[4]. - Total operating revenue for 2023 was RMB 60,676,613,395.82, representing a growth of 9.60% from RMB 55,363,782,450.06 in 2022[16]. - The basic earnings per share for 2023 was RMB 1.14, up 23.91% from RMB 0.92 in 2022[17]. - The company plans to distribute a cash dividend of RMB 4.75 per 10 shares, totaling RMB 1,480,812,242.08, which accounts for 41.71% of the net profit attributable to shareholders[4]. - The net cash flow from operating activities was negative at RMB -3,495,876,222.59, a significant decrease from RMB 8,408,573,623.86 in 2022[16]. - The company's total assets reached RMB 121,108,373,341.62 by the end of 2023, an increase of 5.00% from RMB 115,344,350,441.40 in 2022[16]. - The weighted average return on net assets for 2023 was 9.82%, an increase of 1.39 percentage points from 8.43% in 2022[17]. - The company reported a net profit of RMB 2,575,811,881.93 after deducting non-recurring gains and losses, which is an increase of 8.01% from RMB 2,384,896,763.34 in 2022[16]. - The net assets attributable to shareholders increased to RMB 37,244,895,786.52, reflecting a growth of 6.44% from RMB 34,992,066,981.24 in 2022[16]. Revenue Breakdown - The company achieved total operating revenue of RMB 60.677 billion in 2023, representing a year-on-year growth of 9.60%[25]. - In Q1 2023, the operating revenue was RMB 14.717 billion, with a net profit attributable to shareholders of RMB 1.019 billion[18]. - In Q2 2023, the operating revenue increased to RMB 15.198 billion, while net profit attributable to shareholders decreased to RMB 983 million[18]. - In Q3 2023, the operating revenue was RMB 14.851 billion, with net profit attributable to shareholders further declining to RMB 910 million[18]. - In Q4 2023, the operating revenue reached RMB 15.910 billion, but net profit attributable to shareholders dropped to RMB 639 million[18]. Research and Development - The company's R&D expenditure increased by 9.08% year-on-year, maintaining an intensity of over 5.5%[26]. - Research and development expenses amounted to ¥3.39 billion, which is a 20.85% increase compared to the previous year, reflecting the company's commitment to innovation[35]. - The company holds a total of 3,828 valid patents, including 1,548 invention patents, showcasing its strong innovation capabilities[35]. - The company has established 20 digital workshops, with 8 achieving A-level status, as part of its smart manufacturing transformation[36]. - The company plans to enhance its international business layout and brand image, targeting stable growth in international market orders[71]. Market Position and Strategy - The company ranked first in the gas power market share and successfully operated the first domestic G50 gas turbine demonstration project[26]. - The company is actively expanding its international market presence, with a focus on establishing overseas marketing institutions[36]. - The company aims to enhance its core competitiveness and drive innovation to achieve high-quality development, focusing on both traditional industry upgrades and strategic emerging industries[70]. - The company plans to strengthen its position in traditional sectors such as coal power and nuclear energy while accelerating the development of wind power and energy-saving industries[70]. - The company is committed to achieving carbon peak and carbon neutrality goals, aligning with national energy transition strategies[70]. Governance and Compliance - The company did not report any significant risks or non-compliance issues in its financial disclosures[6]. - The company emphasizes the protection of minority shareholders' rights and interests, ensuring equal treatment for all shareholders[81]. - The company has established comprehensive governance systems, including various committees to enhance operational transparency and accountability[82]. - The board of directors consists of 8 members, including 3 independent non-executive directors, and held 11 board meetings during the reporting period[81]. - The company has implemented measures to maintain the independence of its operations and governance structures[82]. Environmental Initiatives - The company invested approximately 24.27 million yuan in social responsibility initiatives, including 22.18 million yuan for rural revitalization and 1.22 million yuan for earthquake disaster relief[173]. - The company has been recognized as an environmentally friendly B-level enterprise in 2023 for its upgraded environmental performance[167]. - The carbon emission intensity of the production process for the year 2023 decreased by 4.5% year-on-year[171]. - The company aims to reduce volatile organic compounds (VOCs) emissions by over 10% by promoting the use of environmentally friendly raw materials[166]. - The company has constructed 11 new green workshops in 2023, building on the first batch of 9 green workshops[166]. Talent and Human Resources - The total number of employees at the company and its main subsidiaries is 17,426, with 8,227 being technical personnel[114]. - The company introduced 125 high-level talents and implemented 9 new long-term incentive projects, enhancing its talent pool[28]. - The company has initiated a talent development strategy focusing on green, low-carbon, and digital transformation, with ongoing training programs for employees[118]. - The number of R&D personnel was 4,274, making up 24.53% of the total workforce[50]. - The company plans to strengthen its talent strategy, aiming to establish 1-2 internal talent zones to enhance talent development[75]. Future Outlook - The company anticipates a 6% growth in national electricity consumption in 2024 compared to 2023, with total installed power generation capacity expected to reach 3.25 billion kilowatts[68]. - The company expects to maintain a high level of new coal power projects in 2024, driven by demand for energy security and system regulation[69]. - The company aims to achieve a power generation equipment output of 48.23 million kilowatts in 2024[71]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[89]. - The company plans to implement new operational strategies aimed at improving efficiency by 10% over the next year[89].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The report indicates that impairment impacts short-term performance, but the significant increase in new effective orders ensures future revenue growth [1] - The company achieved a revenue of 60.68 billion yuan in 2023, representing a year-on-year increase of 9.6%, and a net profit attributable to shareholders of 3.55 billion yuan, up 24.2% year-on-year [4][5] - The company expects to deliver high-priced thermal power orders in 2024, which will support revenue and profitability [4] Financial Performance Summary - In Q4 2023, the company reported revenue of 15.91 billion yuan, a year-on-year increase of 7.4%, and a net profit of 640 million yuan, up 78.4% year-on-year [4] - The company’s gross margin and net margin were 17.1% and 3.9%, respectively, showing a decline compared to the previous quarter [4] - The company’s new orders reached 86.53 billion yuan in 2023, a year-on-year increase of 31.95%, with significant contributions from high-efficiency clean energy equipment and new energy equipment [4][5] Revenue and Profit Forecast - The forecast for net profit attributable to shareholders is 4.26 billion yuan for 2024, 5.05 billion yuan for 2025, and 5.08 billion yuan for 2026, with corresponding EPS of 1.37, 1.62, and 1.63 yuan [4][5] - The report anticipates continued growth in revenue from coal power equipment and stable growth in nuclear power and gas turbine businesses [4] Order Growth and Business Segments - The company’s coal power equipment business generated revenue of 13.90 billion yuan in 2023, a year-on-year increase of 28.7%, while the wind power business saw a revenue decline of 11.1% [4] - The report highlights that the company is increasing its investment in wind farm resources and improving the proportion of offshore wind power, which is expected to enhance profitability [4]

Financial Performance - The company achieved total operating revenue of RMB 60.677 billion in 2023, an increase of 9.60% compared to RMB 55.364 billion in 2022[4]. - The net profit attributable to shareholders was RMB 3.550 billion in 2023, reflecting a growth of 24.23% from RMB 2.858 billion in 2022[4]. - Basic earnings per share increased to RMB 1.14 in 2023, up from RMB 0.92 in 2022[4]. - Total revenue for 2023 reached CNY 60.68 billion, an increase of 9.4% compared to CNY 55.36 billion in 2022[17]. - Net profit for 2023 was CNY 3.64 billion, up 20.9% from CNY 3.01 billion in 2022[19]. - Total assets reached RMB 121.108 billion at the end of 2023, an increase from RMB 115.344 billion in 2022[8]. - The total equity attributable to shareholders reached CNY 37.24 billion in 2023, an increase of 6.4% from CNY 34.99 billion in 2022[14]. - The average return on equity increased to 9.82%, up by 1.39 percentage points compared to the previous year[55]. Orders and Revenue Growth - New orders amounted to approximately RMB 86.532 billion in 2023, representing a 31.95% increase from RMB 65.579 billion in 2022[4]. - Total revenue for the current year is CNY 60,676,613,395.82, compared to CNY 55,363,782,450.06 in the previous year, indicating a year-over-year increase of about 9.5%[40]. - Revenue from clean and efficient energy equipment increased by RMB 5.905 billion, a growth of 40.21% year-on-year[76]. - The company recorded new orders of RMB 86.532 billion, a year-on-year increase of 31.95%, with clean and efficient energy equipment accounting for 39.44%[56]. Assets and Liabilities - Current assets totaled RMB 75.689 billion as of December 31, 2023, compared to RMB 67.424 billion at the end of 2022[7]. - Total liabilities increased to RMB 79.888 billion in 2023, compared to RMB 76.709 billion in 2022[12]. - The company's asset-liability ratio decreased to 65.96%, down 0.54 percentage points from the previous year[100]. - The net accounts receivable as of December 31, 2023, is CNY 10,714,105,864.95, up from CNY 10,095,931,789.15 in the previous year, reflecting an increase of approximately 6.1%[27]. Research and Development - Research and development expenses increased to CNY 2.75 billion in 2023, up from CNY 2.28 billion in 2022, indicating a growth of 20.8%[17]. - R&D expenses grew by 20.85% year-on-year, reflecting increased investment in research and development[71]. - R&D investment intensity is maintained at over 5.5%, with a focus on high-end, intelligent, and green development of equipment manufacturing[118]. Dividends and Shareholder Returns - The board proposed a cash dividend of RMB 4.75 per 10 shares for the 2023 fiscal year, subject to shareholder approval[4]. - The company plans to distribute a cash dividend of RMB 4.75 per 10 shares, totaling RMB 1.480 billion before tax for the fiscal year 2023[54]. Operational Efficiency and Cost Management - The company implemented a comprehensive cost management approach, enhancing operational efficiency[62]. - Operating expenses were reported at 10.99 billion, with a focus on optimizing cost structures to improve overall profitability[51]. - The company will implement strict cost control measures to improve profitability amidst competitive pricing pressures[133]. Market Expansion and Strategic Initiatives - The company is focusing on strategic acquisitions to bolster its market position, with an estimated investment of 12.67 billion planned for the upcoming fiscal year[50]. - The company aims to enhance its market expansion efforts both domestically and internationally, focusing on maintaining a stable order volume and solidifying its position in traditional industries while advancing into new sectors[116]. - The company plans to strengthen energy technology innovation and enhance the reliability of new energy sources[107]. Talent Development and Corporate Governance - The company has strengthened its talent pool by recruiting 125 high-level talents and training 145 experts[65]. - The company established a comprehensive compensation management system focusing on "strategic leadership, performance linkage, and efficiency adjustment" to optimize salary management and ensure differentiated compensation based on functional nature and contribution levels[145]. - The company has fully complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[151].

2023 东方电气股份有限公司 社会责任报告 contents | 卷首语 | 01 | | --- | --- | | 关于我们 | 03 | | 关于本报告 | 07 | | 向绿、向新、向未来 | 09 | | 责任专题：新征程，再出发 | 11 | | 未来展望 | 100 | | 责任管理 | 101 | | 附录 | 105 | 筑牢发展之基 国家有所需 | 结硕果：打造绿色重器 | 39 | | --- | --- | | 提质效：推进绿色运营 | 50 | | 可持续：赋能绿色生活 | 57 | 聚合多方之力 伙伴有所期 | 同进步：携手伙伴共赢 | 63 | | --- | --- | | 创价值：做优客户服务 | 67 | | 共成长：培育人才沃土 | 69 | 心怀长远之计 发展有所向 | 79 | | --- | | 排头兵：服务发展大局 | 显担当：助力"一带一路" 86 爱不息：共筑美好生活 94 卷首语 卷首语 | 强党建：跨越而行 | 19 | | --- | --- | | 重创新：技术驱动 | 26 | | 焕活力：优化治理 | 28 | 打造绿色之翼 使命有所趋 2023 ...