Financial Performance - The net profit attributable to the parent company for 2022 is CNY 21,309,033,980.94, with a proposed distribution of dividends at CNY 8.533 per 10 shares for eligible shareholders [4]. - The company plans to distribute 100% of the net profit of CNY 20,092,277,840.10 generated from February 1, 2022, to December 31, 2022, to shareholders [4]. - The company reported a net profit of CNY 1,216,756,140.84 for the period from January 1, 2022, to January 31, 2022, which will be retained for future distribution [4]. - The net profit attributable to shareholders for 2022 was CNY 21,309,033,980.94, down 18.89% from CNY 26,272,998,503.24 in 2021 [18]. - The total profit amounted to 26.313 billion RMB, down by 6.096 billion RMB or 18.81% year-on-year [33]. - The company's operating revenue for 2022 was CNY 52,060,482,557.85, a decrease of 6.44% compared to CNY 55,646,253,991.83 in 2021 [18]. - The net cash flow from operating activities for 2022 was CNY 30,912,732,230.12, a decline of 13.49% compared to CNY 35,732,461,733.26 in 2021 [18]. - The basic earnings per share for 2022 was CNY 0.9370, representing an 18.89% decrease from CNY 1.1553 in 2021 [19]. - The total assets at the end of 2022 were CNY 327,268,285,047.33, a slight decrease of 0.39% from CNY 328,563,281,639.20 at the end of 2021 [19]. - The net assets attributable to shareholders increased by 2.44% to CNY 185,488,250,616.82 at the end of 2022, compared to CNY 181,063,819,486.27 at the end of 2021 [18]. Operational Highlights - The company achieved an annual power generation of 185.581 billion kWh, with a water-saving increase in power generation of 8.598 billion kWh, marking the best comprehensive water consumption rate since 2015 [24]. - The company successfully completed the commissioning of all remaining 10 units of the Baihetan Hydropower Station, contributing to the establishment of the world's largest clean energy corridor [24]. - The company’s total installed capacity achieved significant growth following the completion of major asset restructuring, with the restructuring plan approved by the CSRC in October 2022 [25]. - The company’s cumulative daily power generation exceeded 1 billion kWh for 48 days, effectively alleviating power supply tensions in central, eastern, and southern China [24]. - The company achieved a total installed hydropower capacity of 71.795 million kilowatts, with domestic capacity accounting for 17.34% of the national total [29]. Research and Development - The company invested a record high of 674 million yuan in R&D, resulting in the authorization of 373 patents, including 81 invention patents, a threefold increase [25]. - The company’s research and development expenses increased by 127.45% to 89.655 million RMB, compared to 39.417 million RMB in the previous year [34]. - The total research and development investment amounted to 674.02 million yuan, accounting for 1.29% of operating revenue [40]. Environmental and Social Responsibility - The company implemented 58 social responsibility projects with a total donation of 340 million yuan, focusing on comprehensive revitalization in related regions [30]. - The company invested ¥78.2187 million in environmental protection initiatives [120]. - The company produced 185.581 billion kWh of clean electricity in 2022, replacing approximately 55.9527 million tons of standard coal and reducing CO2 emissions by about 15.366 million tons compared to coal-fired power generation [124]. - The company conducted 17 ecological scheduling experiments, the highest number in its history, positively impacting the spawning quantity of the "Four Major Fish" in the Yangtze River [121]. Governance and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by the audit report from Da Hua Accounting Firm [3]. - The company received an A-class evaluation for information disclosure from the Shanghai Stock Exchange, reflecting its commitment to transparency [79]. - The company has been recognized as a "Demonstration Enterprise of State-owned Enterprise Governance" by the State-owned Assets Supervision and Administration Commission [79]. - The company has established a comprehensive safety management system to address risks associated with complex operational conditions and equipment management [77]. Future Outlook and Strategic Initiatives - The company plans to focus on strategic investments in clean energy and smart integrated energy, while also promoting the construction of the "water-wind-solar-storage" energy base [75]. - The company aims to enhance its marketing strategy by integrating large hydropower with new energy and energy storage solutions [75]. - The company anticipates a tight balance in electricity supply and demand during peak periods in summer and winter [73]. - The company plans to expand its market presence by entering three new provinces in the next fiscal year [93]. Financial Management and Investments - The company has proposed to issue corporate bonds and interbank market debt financing tools to support its financial activities [82]. - The company has a total of 454,837,184 shares held by Changjiang Three Gorges Industrial Development (Beijing) Co., Ltd., a wholly-owned subsidiary, indicating internal consolidation of shares [159]. - The company has engaged multiple financial institutions for bond issuance and management, enhancing its market presence [179]. - The company has a solid track record of timely interest payments on its bonds, ensuring investor confidence [178].

Financial Performance - The company's operating revenue for Q1 2023 reached ¥15,397,466,574.25, representing a 25.17% increase compared to the same period last year[4]. - Net profit attributable to shareholders was ¥3,612,922,772.00, reflecting a 16.28% growth year-over-year[4]. - Basic and diluted earnings per share both stood at ¥0.1527, marking a 16.28% increase from the previous year[5]. - The net profit for Q1 2023 was approximately CNY 3.74 billion, an increase of 18% compared to CNY 3.17 billion in Q1 2022[19]. - The total comprehensive income for Q1 2023 was CNY 3.36 billion, slightly down from CNY 3.45 billion in Q1 2022[20]. - The company's financial report for Q1 2023 is unaudited, indicating ongoing assessments of financial performance[14]. Cash Flow and Investments - The net cash flow from operating activities surged by 78.33% to ¥7,577,578,299.69, driven by increased electricity sales[5]. - Cash flow from operating activities generated a net inflow of CNY 2,600,434,797.08, significantly higher than CNY 1,302,272,637.74 in Q1 2022, marking an increase of approximately 99.7%[30]. - The company reported a significant increase in cash received from investment activities, totaling CNY 19,234,443,486.39 in Q1 2023, compared to CNY 7,422,191,398.82 in Q1 2022, marking an increase of approximately 159.5%[30]. - The net cash flow from financing activities was CNY 59.18 billion, a turnaround from a negative CNY 2.93 billion in Q1 2022[23]. - The company received CNY 69 billion in cash from borrowings in Q1 2023, compared to CNY 11 billion in Q1 2022, indicating a substantial increase in financing activities[30]. Assets and Liabilities - Total assets amounted to ¥580,000,149,231.43, showing a slight increase of 0.27% compared to the end of the previous year[5]. - Total liabilities increased to ¥384,842,291,131.02 in Q1 2023 from ¥322,436,160,281.09 in Q1 2022, showing a growth of approximately 19.4%[16]. - The total equity attributable to shareholders decreased to ¥184,778,243,903.76 in Q1 2023 from ¥227,672,206,347.94 in Q1 2022, a decline of about 18.8%[16]. - Total non-current assets amounted to ¥551,364,345,873.70, a slight decrease from ¥551,526,324,853.47[33]. - The total assets as of March 31, 2023, amounted to RMB 301,380,897,545.56, an increase from RMB 243,611,612,379.88 at the end of 2022[26]. Shareholder Information - The company reported a significant increase in the number of ordinary shareholders, totaling 258,486 by the end of the reporting period[9]. - The total number of shares held by the top ten unrestricted shareholders includes 11,882,135,174 shares held by China Three Gorges Corporation, representing 52.16% of total shares[10]. - The company’s major shareholders include Yunnan Energy Investment Group Co., Ltd. with 779,661,264 shares, representing 3.29% of total shares[10]. Strategic Initiatives - The company is focused on expanding its market presence and enhancing its operational efficiency through strategic initiatives[6]. - The company is currently undergoing a major asset restructuring, with the approval process completed by the State-owned Assets Supervision and Administration Commission[12]. - The company has received regulatory approval for its asset restructuring plan, which includes issuing shares and convertible bonds to acquire assets[13]. - The company's stock was suspended for trading during the restructuring planning phase, highlighting the significance of this strategic move[12]. - The company is actively engaged in due diligence, auditing, and evaluation related to its major asset restructuring efforts[12]. Research and Development - Research and development expenses increased significantly to ¥35,789,732.66 in Q1 2023 from ¥4,672,990.95 in Q1 2022, reflecting a growth of approximately 664.5%[18]. - Research and development expenses increased significantly to RMB 16,227,968.63 in Q1 2023, compared to RMB 4,672,990.95 in Q1 2022, marking an increase of approximately 247.5%[27].

Financial Performance - The company's operating revenue for Q3 2022 was ¥15,880,975,297.65, a decrease of 22.71% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2022 was ¥7,652,560,901.19, down 30.34% year-on-year[2]. - The basic earnings per share for Q3 2022 was ¥0.3365, reflecting a decline of 30.34% compared to the previous year[3]. - The net profit attributable to shareholders for the year-to-date was ¥18,944,132,777.16, a decrease of 3.18% compared to the same period last year[2]. - The total profit for Q3 2022 was approximately ¥23.30 billion, a decrease from ¥23.81 billion in Q3 2021, reflecting a decline of about 2.16%[18]. - The net profit attributable to shareholders of the parent company was approximately ¥18.94 billion, down from ¥19.57 billion in the previous year, representing a decrease of about 3.19%[18]. - The total comprehensive income for Q3 2022 was approximately ¥21.36 billion, compared to ¥19.52 billion in Q3 2021, indicating an increase of about 9.39%[19]. - The total profit for Q3 2022 was approximately ¥12.01 billion, a decrease from ¥16.05 billion in Q3 2021, representing a decline of about 25.5%[27]. - The net profit for Q3 2022 was approximately ¥9.86 billion, down from ¥13.27 billion in Q3 2021, reflecting a decrease of around 25.5%[27]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥327,021,197,372.40, a slight decrease of 0.47% from the end of the previous year[3]. - As of September 30, 2022, the total current assets amounted to ¥15,918,672,626.55, a decrease from ¥17,923,455,064.88 as of December 31, 2021, representing a decline of approximately 11.16%[12]. - The company's long-term equity investments reached ¥65,463,174,558.14, up from ¥60,716,844,608.70, which is an increase of approximately 7.5%[12]. - Total liabilities decreased to CNY 133.91 billion in Q3 2022 from CNY 138.28 billion in Q3 2021, a reduction of about 3.43%[14]. - Total liabilities reached CNY 104,725,358,547.39, up from CNY 95,859,919,847.96, indicating an increase of 9.7%[24]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥23,970,161,004.22, showing a 10.94% increase[3]. - Cash inflow from operating activities for the first nine months of 2022 was approximately ¥44.83 billion, an increase from ¥40.37 billion in the same period of 2021, reflecting a growth of about 10.83%[20]. - Cash outflow from operating activities totaled approximately ¥20.86 billion in Q3 2022, compared to ¥18.76 billion in Q3 2021, an increase of about 11.19%[22]. - The net cash flow from investing activities for the first nine months of 2022 was approximately -¥2.67 billion, an improvement from -¥4.17 billion in the same period of 2021[22]. - The company reported a net cash outflow from financing activities of approximately -¥24.75 billion in Q3 2022, compared to -¥17.73 billion in Q3 2021, indicating a worsening of about 39.54%[22]. Shareholder Information - The company reported a total of 195,579 common shareholders at the end of the reporting period[7]. - The top shareholder, China Three Gorges Corporation, holds 54.34% of the shares, with a total of 12,358,576,257 shares[8]. Asset Restructuring - The company is undergoing a major asset restructuring, with the plan approved by the State-owned Assets Supervision and Administration Commission on July 20, 2022[11]. - The restructuring plan is pending approval from the China Securities Regulatory Commission, which is necessary for implementation[11]. - The company has initiated a significant asset restructuring process, which includes issuing shares and convertible bonds to acquire assets[11]. - The company’s stock was suspended for trading on November 29, 2021, due to the announcement of the major asset restructuring[11]. Research and Development - Research and development expenses increased to CNY 21.94 million in Q3 2022 from CNY 16.55 million in Q3 2021, indicating a growth of about 32.36%[17]. - Research and development expenses increased to CNY 21,649,940.84 from CNY 16,226,713.79, reflecting a growth of 33.5%[26].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 25,388,484,424.15, representing a 27.57% increase compared to CNY 19,901,493,441.99 in the same period last year[16]. - The net profit attributable to shareholders of the listed company reached CNY 11,291,571,875.97, up 31.57% from CNY 8,581,992,711.46 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was CNY 11,278,634,706.30, which is a 58.29% increase from CNY 7,125,440,066.10 in the previous year[16]. - The net cash flow from operating activities was CNY 11,988,764,138.10, reflecting a 25.62% increase compared to CNY 9,543,744,115.40 in the same period last year[16]. - Basic earnings per share for the first half of 2022 were CNY 0.4965, an increase of 31.57% from CNY 0.3774 in the same period last year[17]. - The weighted average return on net assets increased to 6.13%, up 1.19 percentage points from 4.94% in the previous year[17]. - The company reported a total comprehensive income of CNY 12,934,680,965.72 for the first half of 2022, compared to CNY 8,747,038,208.75 in the previous year, an increase of 47.5%[79]. - The total profit for the first half of 2022 was CNY 13,972,368,467.43, an increase of 37.3% from CNY 10,196,143,132.93 in the previous year[78]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 335,260,890,148.82, a 2.04% increase from CNY 328,563,281,639.20 at the end of the previous year[16]. - The total liabilities reached CNY 150,552,940,580.76, compared to CNY 138,275,058,750.50 at the end of the previous year[72]. - The asset-liability ratio increased to 44.91%, up 6.73% from 42.08% at the end of the previous year[69]. - The company's equity attributable to shareholders decreased to CNY 174,789,258,763.63 from CNY 181,063,819,486.27 at the end of the previous year[72]. - The current ratio at the end of the reporting period was 0.35, an increase of 2.94% from 0.34 at the end of the previous year[69]. Cash Flow - The net cash flow from operating activities was approximately ¥11.99 billion, up from ¥9.54 billion, representing a year-over-year increase of 25.7%[82]. - The company reported a total cash inflow from operating activities of approximately ¥25.17 billion in the first half of 2022, an increase of 15.5% compared to ¥21.73 billion in the same period of 2021[82]. - Cash inflow from financing activities totaled approximately ¥21.65 billion, down from ¥34.72 billion in the first half of 2021, indicating a decrease of 37.6%[83]. - The company's cash and cash equivalents at the end of the period increased to approximately ¥10.33 billion, compared to ¥7.77 billion at the end of the previous year, marking a growth of 32.5%[83]. Investment and Development - The company is focusing on strategic investments in clean energy and regional energy platforms to optimize its investment layout[25]. - The company plans to invest over 200 million yuan in 58 projects to support poverty alleviation and rural revitalization efforts throughout the year[42]. - The company conducted 15 ecological scheduling experiments in the first half of 2022, the highest number recorded, to enhance ecological benefits[40]. - The company is actively exploring smart integrated energy projects to promote green low-carbon development in rural areas, including initiatives in Hunan, Hubei, and Henan provinces[43]. Risk Management - The company has disclosed potential risks in the report, urging investors to pay attention to investment risks[5]. - The company is managing six hydropower stations, with electricity generation closely linked to the water inflow from the Yangtze River, which poses a risk due to variability in water levels[30]. - The company faces market risks due to fluctuations in electricity prices as the national electricity spot market is being developed, which may impact profitability[32]. - The company has established a structured investment management system to address risks associated with external investments, particularly in the context of global economic uncertainties[32]. Corporate Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during this reporting period[4]. - The company held its first extraordinary shareholders' meeting on March 9, 2022, to elect non-independent and independent directors[35]. - The company has committed to minimizing related party transactions and ensuring fair market practices in unavoidable transactions[45]. - The company guarantees that its senior management will not hold positions outside the company, ensuring independence in operations and financial decisions[46]. Environmental and Social Responsibility - The company’s hydropower operations significantly reduce air pollutants and greenhouse gas emissions, contributing to ecological benefits[40]. - Approximately 2.085 million fertilized eggs and 1.03 million fry were produced through artificial breeding of rare fish species in the first half of 2022[40]. - The company implemented 32 targeted assistance projects in the first half of 2022, covering infrastructure, education, health, and industrial support, promoting economic and livelihood development in reservoir areas[42]. Financial Instruments and Accounting - The company recognizes the share of profits and losses from joint operations according to relevant accounting standards, confirming both individually held and jointly held assets and liabilities[121]. - Financial assets are classified into three categories based on the business model and cash flow characteristics: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[127]. - The company assesses the extent of risks and rewards retained when transferring financial assets to determine whether to derecognize them[139]. - The company recognizes expected credit losses for financial assets measured at amortized cost and certain financial liabilities, ensuring proper impairment accounting[141].

Financial Performance - The company's operating revenue for 2021 was CNY 55,646,253,991.83, a decrease of 3.70% compared to CNY 57,783,367,039.83 in 2020[16]. - The net profit attributable to shareholders for 2021 was CNY 26,272,998,503.24, showing a slight decrease of 0.09% from CNY 26,297,890,222.70 in 2020[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 24,141,419,619.03, down 7.77% from CNY 26,175,647,473.85 in 2020[16]. - The net cash flow from operating activities for 2021 was CNY 35,732,461,733.26, a decrease of 12.93% compared to CNY 41,036,864,400.40 in 2020[16]. - Basic earnings per share for 2021 was CNY 1.1553, a decrease of 2.54% compared to 2020[19]. - Diluted earnings per share for 2021 was also CNY 1.1553, reflecting the same percentage decrease[19]. - The total profit for the year was 32.409 billion yuan, a slight decrease of 0.14% compared to the previous year[36]. - The company reported a net profit attributable to the parent company of 26.273 billion yuan, a decrease of 0.09% year-on-year[36]. Assets and Liabilities - The total assets at the end of 2021 were CNY 328,563,281,639.20, a decrease of 0.68% from CNY 330,827,096,559.03 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were CNY 181,063,819,486.27, an increase of 5.20% from CNY 172,118,146,991.60 at the end of 2020[18]. - Current liabilities totaled CNY 53,406,216,174.22, down 31.9% from CNY 78,466,607,623.54 in the previous year[170]. - Non-current liabilities increased to CNY 84,868,842,576.28, up 14.6% from CNY 74,038,882,459.75 in 2020[170]. - Total liabilities amounted to CNY 138,275,058,750.50, a decrease of 9.3% from CNY 152,505,490,083.29 in 2020[170]. - Shareholders' equity reached CNY 190,288,222,888.70, an increase of 6.1% from CNY 178,321,606,475.74 in the previous year[170]. Cash Flow - The net cash flow from investment activities increased by CNY 29.472 billion, primarily due to the acquisition of the Peru project last year[44]. - The net cash flow from operating activities for Q4 2021 was CNY 14,126,270,444.68, contributing to an annual total of CNY 12,062,447,173.18[20]. - The total cash inflow from investment activities was ¥59,298,963,266.29, down from ¥82,367,600,146.96 in the previous year, reflecting a decline of approximately 28%[180]. - The net cash flow from financing activities was -¥10,385,970,618.79, compared to a positive cash flow of ¥2,617,422,613.43 in 2020, indicating a significant shift in financing strategy[180]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 8.153 per 10 shares, totaling CNY 18,541,437,830.22 for the year 2021[4]. - The company plans to distribute cash dividends of no less than 0.65 CNY per share for the years 2016 to 2020, and at least 70% of the net profit for the years 2021 to 2025[110]. - The total compensation for all directors, supervisors, and senior management amounted to 10.7262 million yuan[82]. Investments and Projects - The company achieved an annual power generation of 208.322 billion kWh, exceeding planned targets[25]. - The company successfully managed flood control with a total flood retention capacity of 17.2 billion cubic meters[25]. - The company participated in the construction of the Baihetan and Wudongde power stations, achieving early operational milestones[25]. - The company completed the acquisition of the Peru Luders project, enhancing its international business capabilities[27]. - The company is actively pursuing strategic investments in renewable energy and integrated energy solutions[33]. Research and Development - Total R&D investment amounted to CNY 64,253.92 million, representing 1.15% of total revenue[41]. - The company is investing 1 billion yuan in R&D for new technologies aimed at improving energy efficiency over the next three years[76]. - The company was awarded 409 patents in the year, including 23 invention patents, reflecting its commitment to technological innovation[28]. Environmental and Social Responsibility - The company has committed to a long-term strategy of green and low-carbon development, actively promoting integrated development of hydropower, wind, and solar energy[106]. - The company implemented 60 responsibility projects in 2021, investing 237 million yuan to support poverty alleviation and rural revitalization efforts[108]. - The company has established an environmental protection department and a dedicated management team to oversee environmental risk control and compliance[104]. Governance and Compliance - The company has received an A-class rating for information disclosure from the Shanghai Stock Exchange, reflecting its commitment to transparency and governance[68]. - The company has not faced any major changes in competition or business operations from its controlling shareholders[69]. - The company is focusing on compliance with regulations regarding major asset restructuring and related transactions[86]. Future Outlook - The company anticipates a 5%-6% year-on-year growth in national electricity consumption for 2022, with a gradual increase in quarterly growth rates[64]. - By 2030, the company aims to align with national goals for carbon neutrality, focusing on renewable energy sources like hydropower, which is crucial for energy security and sustainability[64]. - The company plans to generate 2,127 billion kilowatt-hours of electricity in 2022, contingent on favorable water conditions in key reservoirs[66].