Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,272,055,277.84, representing a 6.88% increase compared to CNY 1,190,129,070.64 in the same period last year[5] - Net profit attributable to shareholders was CNY 401,525,247.82, a decrease of 4.85% from CNY 421,982,836.25 in the previous year[5] - The net profit after deducting non-recurring gains and losses was CNY 383,183,566.64, down 3.85% from CNY 398,518,532.12 year-on-year[5] - Basic earnings per share decreased by 26.19% to CNY 0.062 from CNY 0.084 in the same period last year[7] - Diluted earnings per share also fell by 24.36% to CNY 0.059 from CNY 0.078 year-on-year[7] - The total comprehensive income for Q1 2023 was CNY 405,653,047.04, a decrease from CNY 468,071,800.11 in Q1 2022, representing a decline of approximately 13.3%[26] Cash Flow and Liquidity - The net cash flow from operating activities increased by 32.62%, amounting to CNY 788,970,051.83 compared to CNY 594,895,860.41 in the previous year[11] - The cash received from sales of goods and services in Q1 2023 was CNY 1,048,638,187.45, an increase from CNY 777,012,149.46 in Q1 2022, representing a growth of approximately 34.8%[27] - The total cash outflow from operating activities in Q1 2023 was CNY 301,569,186.82, compared to CNY 203,106,621.31 in Q1 2022, indicating an increase of about 48.5%[28] - Cash inflow from investment activities in Q1 2023 amounted to CNY 1,860,468,063.56, significantly higher than CNY 352,332.42 in Q1 2022[28] - The net cash flow from financing activities in Q1 2023 was -CNY 477,065,451.73, compared to a positive cash flow of CNY 449,164,540.07 in Q1 2022[29] - The total cash and cash equivalents at the end of Q1 2023 were CNY 3,342,721,174.69, down from CNY 1,943,667,932.37 at the end of Q1 2022[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 43,844,438,024.99, a slight increase of 0.06% from CNY 43,770,461,242.51 at the end of the previous year[7] - The company's total liabilities as of Q1 2023 amounted to ¥26,831,893,327.38, slightly down from ¥27,235,923,549.89 in the previous year[23] - The total non-current liabilities as of Q1 2023 were ¥20,795,784,487.93, slightly up from ¥20,362,495,947.16 in the previous year[23] - The cash and cash equivalents were approximately 3.37 billion RMB as of March 31, 2023, down from 3.43 billion RMB at the end of 2022[19] Shareholder Equity - The equity attributable to shareholders increased by 2.58% to CNY 16,208,381,309.38 from CNY 15,800,438,214.26 at the end of the previous year[7] - The total equity attributable to shareholders increased to ¥16,208,381,309.38 in Q1 2023, compared to ¥15,800,359,678.65 in Q1 2022, marking a growth of 2.6%[23] Operational Metrics - In Q1 2023, the total power generation reached 3.071 billion kWh, an increase of 8.62% year-on-year[14] - The total grid-connected power volume was 2.941 billion kWh, reflecting a year-on-year growth of 8.05%[14] - The market-oriented transaction volume was 2.253 billion kWh, up by 3.76% compared to the same period last year[16] - The cumulative installed capacity as of March 31, 2023, was 5.32526 million kW, with an equity installed capacity of 5.13096 million kW[14] - The average utilization rate of wind turbines in Hebei was 98.56%, while the average utilization hours were 601 hours in Q1 2023[17] - The total market-oriented transaction volume accounted for 76.61% of the total grid-connected power volume, a decrease of 3.17 percentage points year-on-year[16] Research and Development - Research and development expenses for Q1 2023 were ¥7,141,552.81, significantly higher than ¥3,229,884.00 in Q1 2022, indicating an increase of 121.5%[24] Other Comprehensive Income - The total comprehensive income attributable to shareholders for Q1 2023 was impacted by a decrease in other comprehensive income, resulting in a net effect of -¥20,066,317.61 compared to a gain of ¥25,744,076.18 in Q1 2022[25] - The company reported a decrease in other comprehensive income attributable to the parent company, with a total of CNY 383,885,474.51 in Q1 2023, down from CNY 444,573,940.48 in Q1 2022, a decline of approximately 13.7%[26]

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： ●投资者可于 2023 年 4 月 25 日(星期二)至 5 月 4 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 cecwpc@cecwpc.cn 进行提问。公司将会在说明会上对投资者普遍关 注的问题进行回答。 中节能风力发电股份有限公司（以下简称"公司"）已于2023年3 月31日发布了公司2022年年度报告，为便于广大投资者更全面深入地 | 证券代码：601016 | 证券简称：节能风电 | | 公告编号：2023-041 | | --- | --- | --- | --- | | 债券代码：143723 | 债券简称：G18 | 风电 1 | | | 转债代码：113051 | 转债简称：节能转债 | | | | 债券代码：137801 | 债券简称：GC | 风电01 | | | 债券代码：115102 | 债券简称：GC | 风电 K1 | | 中节能风力发电股份有限公司 关于参加沪市风电产业链上市公司 20 ...

Financial Performance - The total net profit attributable to shareholders for 2022 was CNY 1,630,226,823.82, with a cash dividend distribution of CNY 589,232,123.30, representing 36.14% of the net profit[9]. - The company's operating revenue for 2022 was ¥5,240,192,876.32, representing a 29.28% increase compared to ¥4,053,298,173.33 in 2021[25]. - The net profit attributable to shareholders for 2022 was ¥1,630,226,823.82, a 39.19% increase from ¥1,171,255,489.67 in 2021[25]. - The net cash flow from operating activities increased by 90.71% to ¥4,544,281,468.38 in 2022, up from ¥2,382,868,491.45 in 2021[28]. - The company's total assets at the end of 2022 were ¥43,770,461,242.51, a 9.92% increase from ¥39,819,791,776.57 at the end of 2021[25]. - The basic earnings per share for 2022 was ¥0.319, reflecting a 35.74% increase from ¥0.235 in 2021[27]. - The weighted average return on equity for 2022 was 13.55%, an increase of 2.33 percentage points from 11.22% in 2021[27]. - The net assets attributable to shareholders increased by 42.81% to ¥15,800,438,214.26 at the end of 2022, compared to ¥11,063,897,303.26 at the end of 2021[28]. - The company reported a quarterly revenue of ¥1,384,373,482.20 in Q4 2022, with a net profit of ¥321,088,181.31 attributable to shareholders[30]. - The total profit reached CNY 1,973.68 million, reflecting a 50.90% increase compared to the previous year[78]. Operational Capacity and Growth - The company’s total installed capacity and operational capacity metrics are critical for assessing future growth potential[16]. - The company expects to add approximately 25 million kilowatts of new power generation capacity in 2023, with non-fossil energy capacity expected to reach 18 million kilowatts[41]. - The total installed capacity reached 532.526 MW, with an operational capacity of 523.146 MW, and new capacity added during the reporting period was 93.726 MW[105]. - The company has ongoing projects with a total capacity of 30,994.60 MW under construction, indicating a strong pipeline for future growth[108]. - The company plans to expand its market presence in central and southern regions, including Hubei, Guangxi, and Sichuan[77]. Research and Development - The company is committed to ongoing research and development of new technologies to enhance operational efficiency[10]. - Research and development expenses increased by 78.76% to CNY 24.14 million, indicating a significant investment in technology[80]. - The company developed a big data analysis and AI platform for wind farm management, enhancing operational efficiency through 16 visualized management indicators[93]. - The company completed the development of a wind-storage energy collaborative control system prototype, which includes nine functional capabilities for operational efficiency[93]. - The company is actively involved in technological innovation, winning the second prize for technological invention at the Mechanical Industry Science and Technology Awards in 2022[76]. Market Position and Strategy - The company has outlined its strategic plans for market expansion and potential mergers and acquisitions in the upcoming fiscal year[10]. - The company is actively pursuing overseas projects, with the completion of the 175,000 kW project in Australia and plans to expand into European and Belt and Road countries[49]. - The company aims to adapt to the new electricity market system being established by 2025, which will enhance market transactions for renewable energy[70]. - The company is focused on enhancing its research and development capabilities to drive innovation in renewable energy solutions[184]. - The company is exploring opportunities for international expansion, particularly in the wind energy market[185]. Risk Management - The company emphasizes the importance of risk management, aiming to minimize the likelihood of major risks and safety incidents[140]. - The company faces high policy and technical barriers in the wind power sector, requiring extensive approvals and technical expertise for project development[127]. - The company is exposed to natural disaster risks, particularly in northern and northwestern China, where extreme weather conditions could damage wind farm infrastructure and disrupt operations[152]. - The company has implemented quality assurance agreements with turbine suppliers, but any quality issues outside the warranty period could result in significant financial losses[153]. - The company recognizes the potential impact of macroeconomic fluctuations and policy adjustments on its business performance[149]. Corporate Governance - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring no significant defects in its internal control mechanisms[164]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements for governance[164]. - The company has a structured governance framework with various committees to oversee strategic, audit, and remuneration matters, promoting healthy corporate governance[162]. - The company has implemented a decision-making system for related party transactions to ensure independence from its controlling shareholder[165]. - The company has a complete business system capable of independent market operations[167]. Shareholder Returns and Compensation - The company has a three-year shareholder return plan for 2022-2024, which has been approved by shareholders[168]. - The total pre-tax compensation for the company's senior management during the reporting period amounted to 9.4872 million RMB[174]. - The total number of shares held by the chairman and general manager Liu Bin increased from 30,000 to 39,000, representing a change of 30%[172]. - The total number of shares held by the vice president Guo Yi increased from 70,000 to 91,000, reflecting a 30% increase[172]. - The company emphasizes the importance of aligning executive compensation with long-term performance goals to drive shareholder value[186].

Financial Performance - The company's operating revenue for Q3 2022 reached ¥1,176,585,737.25, representing a 30.69% increase compared to ¥795,920,698.41 in the same period last year[6] - Net profit attributable to shareholders was ¥302,066,027.00, up 30.67% from ¥154,606,982.32 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥297,163,607.38, reflecting a 31.62% increase from ¥149,225,662.93 in the previous year[6] - Basic earnings per share increased to ¥0.061, a rise of 32.61% from ¥0.031 in the same quarter last year[6] - Total operating revenue for the first three quarters of 2022 reached ¥3,855,819,394.12, an increase from ¥2,930,376,226.77 in the same period of 2021, representing a growth of approximately 31.4%[27] - Net profit for the first three quarters of 2022 was ¥1,402,366,539.78, up from ¥1,042,550,131.25 in 2021, reflecting a growth of approximately 34.5%[28] - Total comprehensive income for Q3 2022 reached CNY 1,419,238,532.31, an increase from CNY 1,005,045,058.75 in Q3 2021, representing a growth of approximately 41.1%[29] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥2,403,354,029.53, a significant increase of 61.58% compared to ¥1,344,119,458.55 last year[6] - The net cash flow from operating activities was RMB 61.58 million, reflecting an increase compared to the same period last year[11] - Net cash flow from operating activities for the first nine months of 2022 was CNY 2,403,354,029.53, compared to CNY 1,487,378,783.16 in the same period of 2021, indicating a year-over-year increase of about 61.5%[31] - The company reported a net cash outflow from investing activities of CNY -1,310,656,925.62 for the first nine months of 2022, an improvement compared to CNY -5,324,619,370.90 in the same period of 2021[32] - The net cash flow from financing activities for the first nine months of 2022 was CNY -999,492,027.03, compared to CNY 4,458,317,966.09 in the same period of 2021[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥40,445,186,195.64, showing a 2.61% increase from the previous year-end[6] - The total assets of the company reached ¥40,445,186,195.64 as of September 30, 2022, up from ¥39,416,074,095.57 at the end of 2021[23] - The company’s total liabilities decreased to ¥27,508,281,254.65 in Q3 2022 from ¥28,034,233,588.40 in Q3 2021, a reduction of about 1.9%[26] - The total equity attributable to shareholders increased to ¥12,116,844,472.97 in Q3 2022 from ¥10,660,179,622.26 in Q3 2021, marking a growth of approximately 13.7%[26] - Current assets totaled CNY 7.31 billion, with accounts receivable at CNY 4.74 billion[34] - Non-current liabilities reached CNY 21.87 billion, with long-term borrowings at CNY 17.74 billion[35] Operational Metrics - The total electricity generation for the first three quarters of 2022 reached 8.864 billion kWh, a year-on-year increase of 23.85%[14] - The total grid-connected electricity for the same period was 8.412 billion kWh, up 21.99% year-on-year[14] - The market-oriented electricity trading volume was 4.910 billion kWh, an increase of 61.02% compared to the previous year[14] - Total electricity traded in Q3 2022 reached 490,968 million kWh, a year-on-year increase of 61.02% compared to 304,903 million kWh in Q3 2021[18] - Total grid-connected electricity in Q3 2022 was 841,240 million kWh, up 21.99% from 689,598 million kWh in Q3 2021[18] - The proportion of market-based transactions increased to 58.36% in Q3 2022, up 14.15 percentage points from 44.21% in Q3 2021[18] Research and Development - Research and development expenses rose by 50.12%, indicating increased investment in technology and innovation[10] - Research and development expenses for the first three quarters of 2022 amounted to ¥13,634,190.75, compared to ¥9,082,345.23 in 2021, an increase of about 50.3%[27] Financial Expenses - The company reported a financial expense of ¥671,703,004.43 in Q3 2022, up from ¥514,341,473.77 in Q3 2021, indicating an increase of approximately 30.6%[27] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and product offerings[24]

Financial Performance - The revenue for the first half of 2022 was reported at 500 million CNY, representing a 25% increase year-on-year[14]. - The company's operating revenue for the first half of 2022 reached ¥2,679,233,656.87, representing a 31.98% increase compared to the same period last year[19]. - Net profit attributable to shareholders was ¥1,007,072,615.51, marking a 32.73% growth year-over-year[19]. - The net cash flow from operating activities increased by 61.15% to ¥1,411,969,812.54, driven by higher cash receipts from sales[21]. - Basic earnings per share rose to ¥0.202, a 32.89% increase compared to the previous year[20]. - The company's total assets at the end of the reporting period were ¥40,621,053,377.96, reflecting a 3.06% increase from the end of the previous year[19]. - The weighted average return on equity increased by 1.27 percentage points to 8.72%[20]. - The net profit after deducting non-recurring gains and losses was ¥976,829,970.28, up 30.56% year-over-year[19]. - The company's net assets attributable to shareholders increased by 10.85% to ¥11,817,222,506.92[19]. - The increase in revenue was primarily due to new projects coming online and higher electricity sales prices from the Australian subsidiary[21]. Capacity and Production - The company reported a total installed capacity of wind power at the end of the reporting period, with operational capacity reaching 1,200 MW, an increase of 15% compared to the previous year[14]. - The total electricity generation during the reporting period was 1,500 MWh, reflecting a year-on-year growth of 20%[13]. - The company achieved a grid-connected capacity of 1,100 MW, which is 10% higher than the previous period[13]. - As of June 30, 2022, the company achieved a cumulative installed capacity of 5,334.06 MW, with an equity installed capacity of 5,039.76 MW, representing a market share of 1.56%[28]. - The company's installed capacity increased from 4,005.25 MW in 2020 to 5,334.06 MW in the first half of 2022, reflecting a growth of approximately 33.1%[29]. - The company has a strong project pipeline with a total of 715,500 kW under construction and an additional 3,318,000 kW in planned projects, indicating robust future growth potential[33]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces for wind power projects by the end of 2023[14]. - The company is actively expanding its market presence in central and southern regions of China, including Hubei, Guangxi, and Henan, to enhance resource reserves[34]. - The company aims to expand its overseas market presence, particularly in Australia and Europe, leveraging its experience in project acquisition and operation[45]. - The company is implementing strategic adjustments to increase development efforts in non-restricted areas, aiming for greater market share in central and southern China[45]. Research and Development - Research and development efforts are focused on improving turbine efficiency, with a target of increasing output by 5% in the next fiscal year[14]. - Research and development expenses rose by 63.33% to RMB 9,248,145.16, reflecting the company's increased investment in technology development[48]. Financial Management and Risks - The company has no significant risks affecting normal operations during the reporting period[8]. - There were no non-operational fund occupations by controlling shareholders or related parties reported[7]. - The board of directors confirmed that the financial report is accurate and complete, with no major omissions[5]. - The company has no plans for profit distribution or capital reserve conversion during this reporting period[6]. - The company faces risks from potential policy adjustments that could weaken support for the wind power industry, affecting revenue from wind power projects[69]. - The company relies heavily on three major customers, namely Hebei Power, Xinjiang Power, and Gansu Power, which poses a risk if these customers fail to fulfill their payment obligations[72]. Environmental and Social Responsibility - The company donated approximately CNY 112,000 worth of construction materials to support rural education in Yumen City[96]. - The company participated in a charity event, donating CNY 35,000 to support poverty alleviation efforts in Yangdong District, Yangjiang City[96]. - The company purchased CNY 238,500 worth of agricultural products to support local farmers, achieving its annual consumption assistance target[96]. Corporate Governance - The company has a professional management team with extensive industry knowledge, enabling effective cost control and operational efficiency[34]. - The company has committed to fully subscribing to the shares allocated under the current share placement plan with cash, ensuring the source of funds is legal and compliant[102]. - The company has a long-term commitment to avoid related party transactions that could harm the interests of its shareholders[100].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,190,129,070.64, representing a 19.79% increase compared to CNY 993,525,067.42 in the same period last year[7]. - Net profit attributable to shareholders was CNY 421,982,836.25, a 10.37% increase from CNY 382,342,022.12 in the previous year[7]. - The net cash flow from operating activities reached CNY 594,895,860.41, up 16.33% from CNY 511,389,246.07 in the same period last year[8]. - Basic earnings per share increased to CNY 0.084, a rise of 10.53% from CNY 0.076 in the previous year[8]. - The company reported a net profit of RMB 3,547,319,239.57 for Q1 2022, compared to RMB 2,721,618,722.32 in Q1 2021, showing an increase of about 30.5%[24]. - In Q1 2022, the net profit reached CNY 442,327,038.67, an increase from CNY 408,560,653.08 in Q1 2021, representing a growth of approximately 8.5%[26]. - The total operating profit was CNY 458,721,691.89, slightly down from CNY 465,291,805.48, reflecting a decrease of about 1.2%[26]. - The company reported a total comprehensive income of CNY 468,071,114.85, compared to CNY 411,884,577.02 in Q1 2021, reflecting a growth of around 13.5%[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 40,791,764,821.03, reflecting a 3.49% increase from CNY 39,416,074,095.57 at the end of the previous year[8]. - Total liabilities increased to RMB 28,537,747,575.68 from RMB 28,034,233,588.40, indicating a rise of about 1.8%[24]. - Non-current assets totaled RMB 32,653,412,479.11, compared to RMB 32,108,228,593.01 at the end of 2021, reflecting an increase of approximately 1.7%[22]. - The total equity increased to RMB 12,254,017,245.35 from RMB 11,381,840,507.17, representing a growth of approximately 7.7%[24]. - The total assets as of March 31, 2022, amounted to CNY 23,924,409,806.10, down from CNY 24,574,401,845.45 at the end of 2021[34]. - The total liabilities decreased to CNY 14,521,430,490.23 from CNY 15,157,735,997.40 year-over-year[34]. - The total equity as of March 31, 2022, was CNY 9,402,979,315.87, slightly down from CNY 9,416,665,848.05 at the end of 2021[34]. Cash Flow - The net cash flow from investing activities increased by 57.89%, attributed to reduced cash payments for fixed assets and intangible assets[11]. - The net cash flow from financing activities was CNY 449,164,540.07, a decrease from CNY 1,064,452,229.75 in the previous year[30]. - The company's cash flow from investment activities was negative at CNY -750,629,270.11, compared to CNY -1,782,430,509.88 in the previous year[30]. - The company reported cash outflows from financing activities of CNY 977,714,212.59 in Q1 2022, compared to CNY 417,229,088.57 in Q1 2021, reflecting higher debt repayments[40]. - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 1,278,413,777.28, an increase from CNY 1,084,475,917.51 at the end of Q1 2021, reflecting improved liquidity[40]. Research and Development - The company's R&D expenses surged by 92.47%, indicating increased investment in technology development[11]. - Research and development expenses rose significantly to CNY 3,229,884.00, up from CNY 1,678,106.59, marking an increase of approximately 92.3%[26]. - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[42]. - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[48]. Operational Metrics - The total electricity generation for Q1 2022 was 2.827 billion kWh, representing a year-on-year increase of 16.47%[15]. - The total grid-connected electricity volume for Q1 2022 was 2.722 billion kWh, with a year-on-year growth of 16.27%[15]. - The market-oriented electricity trading volume reached 2.171 billion kWh, a significant increase of 140.31% compared to the same period last year[18]. - The cumulative installed capacity as of March 31, 2022, was 5.2121 million kW, with an equity installed capacity of 4.91786 million kW[15]. - The average grid-connected electricity price for Q1 2022 was 0.4836 RMB/kWh[16]. - The total market-oriented trading accounted for 79.78% of the total grid-connected electricity volume, an increase of 41.18 percentage points year-on-year[18]. - The company achieved a wind turbine availability rate of 99.30% in Q1 2022, up from 98.43% in the same period last year[19]. - The electricity generation in Guangdong province saw a dramatic increase of 2306.77% year-on-year, reaching 231.05 million kWh[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 298,384, with the largest shareholder being China Energy Conservation and Environmental Protection Group Co., Ltd., holding 47.93%[12].

Financial Performance - The company reported a net profit of CNY 767,537,808.67 for the year 2021, with a cash dividend distribution of CNY 275,723,802.15, representing 35.92% of the net profit [8]. - The company's operating revenue for 2021 was CNY 3,538,902,531.89, representing a 32.68% increase compared to CNY 2,667,213,251.32 in 2020 [23]. - The net profit attributable to shareholders for 2021 was CNY 767,537,808.67, which is a 24.22% increase from CNY 617,883,393.03 in 2020 [23]. - The net cash flow from operating activities reached CNY 2,101,949,323.15, marking a 50.44% increase from CNY 1,397,175,837.38 in 2020 [23]. - The total assets at the end of 2021 were CNY 39,416,074,095.57, a 19.14% increase from CNY 33,084,300,229.41 at the end of 2020 [23]. - The basic earnings per share for 2021 was CNY 0.154, up 10.79% from CNY 0.139 in 2020 [24]. - The total profit for 2021 was 90,425,240.00 RMB, reflecting a 17.12% increase compared to the previous year [61]. - The company's retained earnings increased to 2.722 billion RMB, a 22.52% rise from the previous year [82]. Operational Capacity and Growth - The total installed capacity of wind power reached a significant milestone, with operational capacity being a key focus for future growth [15]. - In 2021, the company's wind power generation reached 652.6 billion kWh, a year-on-year increase of 40.5% [31]. - The average utilization hours for wind power in 2021 were 2,246 hours, with provinces like Fujian achieving 2,836 hours [31]. - The company has operational projects of 881.7 MW and construction projects of 785.5 MW in non-restricted areas, with approved and reserved projects totaling 1,468 MW [38]. - The company plans to expand its wind power projects in regions such as Hubei, Guangxi, and Henan, while also conducting preliminary surveys in Hunan and Jilin [60]. - The company anticipates that by 2030, the total installed capacity of wind and solar power will exceed 1.2 billion kW, supported by multiple policies and industry planning [30]. Market and Industry Trends - The company expects continued growth in revenue and profit margins in the upcoming fiscal year, driven by market expansion and new product development [23]. - The global wind power installed capacity reached 743 GW by the end of 2020, with China and the US accounting for 75% of the new installations [43]. - The offshore wind power sector saw a significant increase, with 16.9 million kilowatts added in 2021, bringing the total offshore capacity to 26.38 million kilowatts, surpassing the UK to become the world's largest [115]. - The wind power industry remains largely dominated by state-owned enterprises, with increasing competition from smaller private companies entering the market [108]. - The company is focused on expanding its market presence in the renewable energy sector, particularly in wind power [159]. Technological Advancements and R&D - The company is focusing on technological advancements and market expansion strategies to enhance its competitive position in the industry [23]. - The company is focusing on projects related to AI and big data analysis for wind farms, as well as developing a portable IGBT module low-voltage testing system [79]. - The company is investing heavily in R&D, allocating 10% of its revenue, approximately 150 million RMB, towards new technologies [156]. - The company has implemented advanced fault monitoring systems to transition from passive maintenance to proactive fault detection, reducing downtime [58]. Challenges and Risks - The company faces challenges from "wind abandonment" due to overcapacity in the power industry and inadequate management mechanisms for large-scale wind power integration [33]. - The company faces risks related to project approvals, as stricter standards or longer approval times could delay project development and negatively impact investment returns [129]. - The company is exposed to natural disaster risks, particularly in northern and northwestern China, where severe weather could damage wind farm operations and reduce electricity generation [132]. - The company must obtain grid connection approvals for new projects; delays in these approvals could hinder project revenue generation [134]. Corporate Governance and Management - The company has established a comprehensive internal control system to ensure compliance with laws and regulations, with no significant deficiencies reported [141]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements [141]. - The company has implemented a decision-making system for related party transactions to maintain operational independence from its controlling shareholder [142]. - The company has a structured approach to information disclosure, enhancing transparency and ensuring equal access to information for all shareholders [140]. Environmental and Social Responsibility - The company produced 9.995 billion kWh of green electricity in 2021, saving 3.1984 million tons of standard coal and reducing CO2 emissions by 30.7 million tons [194]. - The company has implemented emergency response plans for major environmental pollution incidents, detailing responsibilities and procedures to minimize environmental risks [193]. - The company invested a total of 1.558 million yuan in poverty alleviation through consumption and project support, including donations for infrastructure improvements in Xinjiang [195]. - The company emphasizes the importance of safety and environmental protection, implementing strict management measures to eliminate potential risks [127].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 795,920,698.41, representing a year-on-year increase of 21.72%[7] - The net profit attributable to shareholders for Q3 2021 was CNY 154,606,982.32, showing a decrease of 6.10% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 149,225,662.93, down 8.55% year-on-year[7] - Total operating revenue for the first three quarters of 2021 reached ¥2,591,042,337.22, an increase of 28.9% compared to ¥2,009,976,519.95 in the same period of 2020[24] - Net profit for the third quarter of 2021 was ¥794,008,553.47, compared to ¥576,683,955.74 in the same quarter of 2020, representing a growth of 37.8%[25] - The total comprehensive income for the third quarter of 2021 was CNY 756,503,480.97, an increase from CNY 565,593,333.77 in the same period of 2020, representing a growth of approximately 33.7%[26] Assets and Liabilities - The total assets at the end of the reporting period were CNY 39,439,467,408.42, an increase of 19.21% compared to the end of the previous year[8] - The company's total liabilities increased to ¥28,081,195,302.11 in Q3 2021 from ¥22,519,836,918.04 in Q3 2020, marking a rise of 24.8%[23] - The total equity attributable to shareholders reached ¥10,623,096,786.89 in Q3 2021, up from ¥9,829,874,257.07 in Q3 2020, indicating a growth of 8.1%[23] - The company reported a significant increase in accounts receivable, rising from CNY 3,431,020,072.10 to CNY 4,650,853,798.57[21] - The company's fixed assets increased from CNY 15,391,694,366.70 to CNY 20,520,996,070.58, reflecting ongoing investments in infrastructure[22] - The total current assets of the company as of September 30, 2021, amounted to CNY 8,170,059,705.86, up from CNY 6,180,195,068.45 in the previous year[22] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,344,119,458.55, up 42.31% year-on-year[8] - The net cash flow from operating activities for the first nine months of 2021 was CNY 1,344,119,458.55, compared to CNY 944,497,250.81 in the same period of 2020, indicating a year-over-year increase of about 42.4%[29] - The net cash flow from financing activities for the first nine months of 2021 was CNY 4,458,317,966.09, down from CNY 6,648,534,644.90 in the same period of 2020, showing a decline of about 33.0%[29] - The net increase in cash and cash equivalents for Q3 2021 was CNY 598,331,408.72, compared to CNY 1,712,990,188.71 in Q3 2020, representing a decrease of about 65.1%[30] Research and Development - The company's research and development expenses increased by 30.65%, reflecting a greater investment in technology development[10] - Research and development expenses for the first three quarters of 2021 amounted to ¥9,082,345.23, an increase from ¥6,951,883.05 in the same period of 2020, reflecting a rise of 30.7%[24] Electricity Generation and Sales - The total electricity generation for the first three quarters of 2021 reached 7.157 billion kWh, representing a year-on-year increase of 39.37%[13] - The total electricity sold through market transactions in Q3 2021 was 304.903 million kWh, a significant increase of 94.06% compared to Q3 2020[16] - The total grid electricity volume for Q3 2021 was 2.251 billion kWh, reflecting a year-on-year increase of 39.37%[14] - The cumulative on-grid electricity for the first three quarters of 2021 was 6.896 billion kWh, up 39.99% year-on-year[13] Future Outlook and Strategy - The company is focusing on expanding its market presence and enhancing operational efficiency through new technologies and product development[20] - The company has a strategic plan for future acquisitions and market expansion to strengthen its competitive position in the renewable energy sector[20] - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the report[24] Operational Efficiency - The profit margin increased by 37.89% due to the operation of newly commissioned projects and increased electricity generation from wind power projects[10] - The company continues to focus on optimizing its asset structure and managing liabilities effectively[34]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[12]. - The company's operating revenue for the first half of 2021 reached ¥1,795,121,638.81, representing a 32.38% increase compared to ¥1,356,087,874.93 in the same period last year[20]. - Net profit attributable to shareholders was ¥586,736,120.10, up 58.09% from ¥371,148,263.79 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥576,171,195.24, a 56.76% increase from ¥367,556,245.49 in the previous year[20]. - The total profit for the same period was 735.21 million yuan, reflecting a year-on-year growth of 56.27%[65]. - The total comprehensive income for the first half of 2021 was ¥619,106,494.77, compared to ¥390,289,820.40 in the same period of 2020, indicating an increase of 58.7%[177]. - The company reported a significant increase in other income, totaling ¥48,236,463.62 for the first half of 2021, compared to ¥34,466,407.97 in the same period of 2020, reflecting a growth of 40.0%[176]. - The net profit for the first half of 2021 was ¥631,640,139.76, compared to ¥402,917,153.84 in the same period of 2020, representing an increase of 56.7%[176]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥39,465,417,239.97, a 19.29% increase from ¥33,084,300,229.41 at the end of the previous year[20]. - The total liabilities as of June 30, 2021, amounted to ¥14,615,095,284.95, up from ¥11,269,211,578.64 at the end of 2020, indicating a growth of 30.8%[174]. - The company's equity attributable to shareholders rose to CNY 10,490,877,957.53 from CNY 9,829,874,257.07, representing an increase of about 6.7%[170]. - The total liabilities increased to CNY 28.25 billion, up from CNY 22.52 billion, which is an increase of approximately 25.5%[170]. - The total cash and cash equivalents at the end of the period reached CNY 3,440,563,779.59, a significant increase from CNY 229,138,359.23 at the end of the first half of 2020[188]. Operational Efficiency - The net cash flow from operating activities increased by 41.92% to ¥815,047,972.88 from ¥574,318,859.47 in the previous year[20]. - The average utilization rate for wind power in the first half of 2021 was 96.4%, an increase of 0.3 percentage points compared to the same period last year[56]. - The company reported a significant increase in accounts receivable, which rose to ¥4,473,594,567.90 from ¥3,431,020,072.10[168]. - The company is enhancing operational efficiency through preventive maintenance and reliability improvements of wind turbines[63]. Research and Development - Research and development expenses increased by 20% compared to the previous year, focusing on improving turbine efficiency and reducing costs[12]. - Research and development expenses surged by 78.22% year-on-year, totaling approximately ¥5.66 million, reflecting increased investment in technology[69]. - Research and development expenses for the first half of 2021 were ¥5,662,239.95, up from ¥3,177,080.24 in the first half of 2020, reflecting an increase of 78.3%[175]. Market Expansion - The company plans to expand its market presence by entering new regions, targeting an additional 1,000 MW of installed capacity by the end of 2022[12]. - The company is focused on expanding its market presence and enhancing its technology to remain competitive in the evolving renewable energy landscape[36]. - The company plans to invest an additional 500 million CNY in new wind power projects over the next fiscal year to enhance its market presence[79]. - The company is actively pursuing overseas projects, including a completed 175,000 kW project in Australia, and is expanding into European and Belt and Road countries[62]. Wind Power Development - The installed capacity of wind power reached 3,500 MW by the end of June 2021, with a utilization rate of 95%[12]. - The company continues to focus on the development, construction, and operation of wind power projects, with no changes in its main business during the reporting period[25]. - Wind power generation in the first half of 2021 was 344.18 billion kWh, representing a year-on-year increase of 44.6%[50]. - The new installed capacity for wind power in the first half of 2021 was 10.84 million kW, comprising 8.694 million kW from onshore and 2.146 million kW from offshore[50]. Financial Management - The company has a strong credit record and stable banking relationships, providing a robust funding guarantee for future projects[54]. - The company reported a net cash outflow from investment activities of approximately ¥3.26 billion, a decrease of 18.86% compared to the previous year[68]. - The company has improved its financial cost structure due to a decrease in long-term loan interest rates from 6.15% in 2014 to 4.65% currently[62]. - The company maintained a loan repayment rate and interest payment rate of 100%[162]. Risks and Challenges - The company is facing risks related to potential changes in national policies supporting the wind power industry, which could impact revenue from wind projects[90]. - The company relies heavily on local grid companies for electricity sales, with the top three customers being Hebei Power, Xinjiang Power, and Gansu Power, posing a risk if these customers fail to fulfill their payment obligations[96]. - The approval process for wind power projects involves multiple government departments, and any delays or stricter standards could hinder project development and investment recovery[91]. - The company faces competition from other renewable energy sources and traditional energy sectors, which could intensify if government support shifts towards other energy types[91]. Shareholder Information - The largest shareholder, China Energy Conservation and Environmental Protection Group, holds 2,402,526,319 shares, representing 47.93% of total shares[143]. - The company has a total of 506,230,319 restricted shares held by the largest shareholder, which will become tradable after September 2, 2023[145]. - The number of ordinary shareholders reached 197,871 by the end of the reporting period[142]. - The company has not reported any changes in the actual controller or major shareholder during the reporting period[149].

Financial Performance - Operating revenue rose by 42.62% to CNY 884,964,818.38 year-on-year[6] - Net profit attributable to shareholders increased by 118.50% to CNY 298,847,913.68 compared to the same period last year[6] - Basic earnings per share improved by 81.82% to CNY 0.060 compared to the previous year[6] - The company reported a significant increase in comprehensive income, which rose by 430.41% to 328,390,468.58 RMB compared to 61,912,498.42 RMB in the previous year[17] - The total profit for Q1 2021 was CNY 382,264,012.31, compared to CNY 183,178,478.74 in Q1 2020, marking a growth of around 108.6%[30] - The company's operating profit for Q1 2021 was CNY 381,797,697.04, a substantial increase from CNY 182,816,998.63 in Q1 2020, representing a growth of approximately 108.5%[30] Cash Flow - Net cash flow from operating activities surged by 67.87% to CNY 511,389,246.07 year-on-year[6] - Cash inflow from operating activities for Q1 2021 was RMB 696,992,586.46, an increase of 55.5% compared to RMB 448,448,086.03 in Q1 2020[34] - The net cash flow from operating activities reached RMB 511,389,246.07, up from RMB 304,625,933.28 in the same period last year, representing a growth of 67.8%[34] - The company reported a net increase in cash and cash equivalents of RMB -207,749,559.09, contrasting with an increase of RMB 424,172,643.49 in Q1 2020, highlighting a shift in cash flow dynamics[35] - The cash outflow for employee compensation was RMB 32,846,412.94, an increase from RMB 25,615,629.20 in Q1 2020, reflecting higher personnel costs[34] Assets and Liabilities - Total assets increased by 5.12% to CNY 34,778,750,941.85 compared to the end of the previous year[6] - Total liabilities amounted to approximately 23.89 billion RMB, an increase from 22.52 billion RMB at the end of 2020[25] - The company's total equity was reported at approximately 10.89 billion RMB, up from 10.56 billion RMB at the end of 2020[25] - The company's long-term borrowings were reported at approximately 17.68 billion RMB, an increase from 16.49 billion RMB at the end of 2020[25] - The total non-current assets reached approximately 28.31 billion RMB, compared to 26.90 billion RMB at the end of 2020[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 229,196[8] - The largest shareholder, China Energy Conservation and Environmental Protection Group, holds 47.93% of the shares[8] - The company granted 26.38 million restricted shares to 129 incentive recipients, with a grant price of 1.75 RMB per share, increasing the total share capital from 498.67 million to 501.31 million[19] Research and Development - Research and development expenses increased by 60.23% to 1,678,106.59 RMB, indicating a focus on technological advancement[15] - The company has not disclosed any new product or technology developments in this report[6] Electricity Generation - The total electricity generation in Q1 2021 was 242,737 MWh, a 52.14% increase from 159,549 MWh in Q1 2020[10] - The total grid-connected electricity volume was 234,090 MWh, up 53.40% from 152,601 MWh in the same period last year[10] - The average on-grid electricity price was 0.4754 RMB/kWh, reflecting a significant increase in electricity sales[10] - The proportion of market-based electricity transactions increased to 38.60%, up from 24.78% in the same period last year, marking a 13.82 percentage point increase[11] - The company’s total electricity volume from market transactions was 90,360 MWh, a substantial increase of 138.99% from 37,809 MWh in Q1 2020[11] Tax and Financial Expenses - The company reported a tax expense of CNY 57,197,467.67 for Q1 2021, compared to CNY 30,042,667.39 in Q1 2020, which is an increase of about 90.4%[30] - The financial expenses for Q1 2021 were CNY -10,251,637.20, compared to CNY -4,237,683.43 in Q1 2020, indicating a higher cost of financing[32]