湖北能源集团股份有限公司 2023 年度内部控制自我评价报告 湖北能源集团股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和 其他内部控制要求（以下简称企业内部控制规范体系），结 合公司内部控制制度和评价办法，在内部控制日常监督和专 项监督的基础上，对公司 2023 年 12 月 31 日（内部控制评 价报告基准日）的内部控制有效性进行了评价。 一、重要声明 按照企业内部控制规范体系的规定，建立健全和有效实 施内部控制，评价其有效性，并如实披露内部控制评价报告 是公司董事会的责任。监事会对董事会建立和实施内部控制 进行监督。经理层负责组织领导企业内部控制的日常运行。 公司董事会、监事会及董事、监事、高级管理人员保证本报 告内容不存在任何虚假记载、误导性陈述或重大遗漏，并对 报告内容的真实性、准确性和完整性承担个别及连带法律责 任。 公司内部控制的目标是合理保证经营管理合法合规、资 产安全、财务报告及相关信息真实完整，提高经营效率和效 果，促进实现发展战略。由于内部控制存在固有局限性，故 仅能为实现上述目标提供合理保证。此外，由于情况的变化 可能导致内部控制变得不恰当，或对控制政策和程序遵 ...

Financial Performance - The company's operating revenue for 2023 was ¥18.67 billion, a decrease of 9.28% compared to ¥20.58 billion in 2022[13]. - Net profit attributable to shareholders for 2023 was ¥1.75 billion, an increase of 50.41% from ¥1.16 billion in 2022[13]. - The net profit excluding non-recurring gains and losses for 2023 was ¥1.70 billion, up 70.85% from ¥993.38 million in 2022[13]. - Cash flow from operating activities decreased by 47.35% to ¥3.27 billion in 2023 from ¥6.20 billion in 2022[13]. - Total assets at the end of 2023 reached ¥91.29 billion, reflecting a 14.87% increase from ¥79.47 billion at the end of 2022[13]. - The company's diluted earnings per share for 2023 was ¥0.27, a 50% increase from ¥0.18 in 2022[13]. - The weighted average return on equity for 2023 was 5.55%, up from 3.81% in 2022[13]. - The company's total operating revenue for 2023 was ¥18,668,672,883.26, a decrease of 9.28% compared to ¥20,578,214,751.99 in 2022[44]. - The net profit from renewable energy generation in 2023 was ¥5.91 billion, an increase of 8.72% year-on-year[36]. Dividend Distribution - The company plans to distribute a cash dividend of 0.90 CNY per 10 shares (before tax) to all shareholders based on the total share capital on the record date for the profit distribution plan[3]. - The company approved a cash dividend distribution plan of CNY 0.60 per 10 shares, based on a total share capital of 6,568,972,986 shares[138]. - The total cash dividend amount is CNY 586,885,444.92, which represents 100% of the distributable profit[140]. - The company's net profit for the period was CNY 7,198,824,204.35, with no allocation to discretionary surplus reserves[140]. - The company achieved a cash dividend distribution of CNY 0.6 per 10 shares, totaling CNY 391.26 million, with a dividend payout ratio of 33.66% of the net profit attributable to shareholders[163]. Business Operations and Strategy - The company reported significant changes in its main business focus to energy investment, development, and management following a major asset restructuring completed in December 2010[11]. - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management team[2]. - The company is actively pursuing market expansion and new technology development to enhance operational efficiency and revenue growth[48]. - The company plans to strengthen the acquisition of renewable energy resources in 2024[36]. - The company aims for a 40% share of installed capacity from new energy sources and over 20% of power generation from these sources by 2030[93]. - The company will focus on high-quality development and energy supply security, enhancing core competitiveness through project construction and market expansion[97]. - The company plans to optimize its business layout and enhance operational efficiency through digitalization and automation in coal port operations[97]. Environmental and Social Responsibility - The company has implemented ultra-low emission standards for its power generation units, ensuring compliance with environmental regulations[155]. - The company invested CNY 342.66 million in environmental governance and protection in 2023[158]. - The company achieved a clean energy generation of 15.81 billion kWh in 2023, resulting in a reduction of CO2 emissions by 13.03 million tons, and reductions in dust, sulfur dioxide, and nitrogen oxides by 268.77 tons, 1,312.23 tons, and 2,102.73 tons respectively[168]. - The company has established emergency response plans for environmental incidents and conducts regular drills[158]. - The company has not experienced any environmental responsibility incidents or penalties in 2023, adhering to strict environmental management practices[168]. Research and Development - The company's R&D investment increased by 87.76% in 2023, amounting to ¥13,726,025.06, compared to ¥7,310,296.43 in 2022[68]. - The company has established a research project focused on intelligent warehouse management using AGV technology, aiming for automated material handling and data recording[64]. - The company has developed a real-time monitoring system for wind turbine blade strain, aimed at preventing performance degradation and potential accidents[65]. - The number of R&D personnel increased to 601 in 2023, representing 13.28% of the workforce, with a significant focus on higher education levels among staff[67]. Governance and Management - The company has maintained independence from its controlling shareholders, ensuring separate operations and financial management[109]. - The company is committed to improving its governance structure and compliance with regulatory requirements to enhance operational efficiency[108]. - The company held multiple shareholder meetings in 2023, with attendance rates ranging from 72.90% to 73.95%[111]. - The company appointed a new general manager on July 31, 2023, and a new chairman of the supervisory board on February 3, 2023[115]. - The company has not reported any dismissals or resignations of directors or senior management during the reporting period[114]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report, indicating potential risks in future development[2]. - The company will continue to monitor and manage investment and operational risks, ensuring compliance and safety in its operations[97]. - The company faces risks of declining electricity prices in the new energy power trading market due to increased competition, particularly in Hubei Province[98]. - Safety production risks are a concern due to the nature of the company's operations, which include various power generation methods and ongoing construction projects[103]. Market and Competitive Position - The company is expanding its market presence, targeting a 25% increase in market share in the next two years[118]. - The company confirmed that there are no substantial competitive overlaps with China Three Gorges Corporation and its controlled entities as of the date of the commitment letter[175]. - Hubei Energy is positioned as the sole development platform for nuclear power, small hydropower, and new energy in Hubei Province, following the completion of a non-public issuance[175]. Financial Management - The company has a registered address in Wuhan, Hubei Province, and its office is located at Energy Building, 137 Xudong Street, Wuhan[7]. - The company's financial statements are audited by Dahua Certified Public Accountants, ensuring compliance and reliability in financial reporting[12]. - The company has not engaged in any continuous supervision responsibilities during the reporting period, indicating a focus on internal management[12]. - The company has established an internal control system in accordance with regulatory requirements, enhancing the integrity, rationality, and effectiveness of the internal control framework[145].

Investment Rating - The report maintains a "Buy" rating for the company [3][4] Core Views - The company is expected to achieve a significant increase in net profit for Q1 2024, with estimates ranging from 710 to 920 million yuan, representing a year-on-year growth of 129% to 196% [3] - The strong performance is attributed to favorable water inflow, increased electricity demand, and a decline in coal prices, which have positively impacted both hydropower and thermal power generation [3][4] - The company has a diversified energy portfolio, with hydropower, thermal power, wind, and solar contributing to its overall performance, and it is well-positioned for continued growth in 2024 [4] Summary by Sections Performance Overview - The company reported a cumulative power generation of 10.8 billion kWh from January to March 2024, a 42% increase year-on-year, driven by a cold wave and a low base from the previous year [3] - Hydropower generation reached 3.465 billion kWh, up 176% year-on-year, while thermal power generation increased by 12.5% to 6.1 billion kWh [3] Market Conditions - The report highlights that the current low coal prices and high water levels in key reservoirs provide a solid foundation for Q2 performance [3] - As of April 12, 2024, the water level at the main reservoir was 380 meters, compared to 368 meters the previous year, indicating favorable conditions for hydropower generation [3] Regulatory Environment - Recent policies from the Hubei Provincial Development and Reform Commission aim to reduce electricity costs for industrial and commercial users, which may impact electricity pricing but are expected to have limited short-term effects on the company's performance due to its conservative approach to new energy development [4] Financial Projections - The company is projected to achieve net profits of 1.81 billion, 2.89 billion, and 3.44 billion yuan for the years 2023 to 2025, with corresponding PE ratios of 13 and 11 for 2024 and 2025 [4] - The intrinsic value of the company is estimated at 47 billion yuan, considering its diverse energy sources and additional business segments [4]

公用事业|电力 公司深度 2024年3月27日 湖北能源 (000883.SZ) 买入 ——水火共振业绩大幅向好 央企改革估值有望提振 （首次覆盖） 投资要点： 证券分析师  三峡集团旗下区域性综合能源平台，湖北省能源保障核心平台。公司实控人为三峡集团，三峡 刘晓宁 S1350523120003 系合计持有45.99%股权，第二大股东为湖北省国资委（持股27.55%）。目前公司业务覆盖 liuxiaoning@huayuanstock.com 电力、燃气、煤炭贸易等能源板块，其中电力业务贡献主要业绩。截至2023年6月底，公司 合计装机1275万千瓦，其中水电、火电、风电、光伏分别为466、463、112、234万千瓦。 联系人 同时，公司拥有华中地区最大的煤炭中转、交易平台——荆州煤炭铁水联运储配基地一期工 刘晓宁 S1350523120003 程，以及覆盖湖北全省1/3的天然气销售体量，为湖北省能源保障核心平台。 liuxiaoning@huayuanstock.com  水电：公司最核心资产，现金流价值亟待重估。公司拥有清江全流域开发权，占公司水电权益 市场表现： 装机80%。清江流域为长江一级支流 ...

Investment Rating - The report maintains a "Buy" rating for Hubei Energy [2][3][6] Core Views - The company is focusing on its core business by transferring its stake in Changjiang Securities, which is expected to generate a one-time investment gain of 4.343 billion yuan [2] - The transaction is seen as a strategic move to optimize the company's asset layout and enhance its core competitiveness [2] - The company has a strong financial position with a debt-to-asset ratio of 56% and no perpetual bonds, indicating a solid standing within the power industry [2] - The report highlights the strategic value of the company's non-electricity assets, including coal trading and natural gas sales, which are expected to contribute positively to future performance [2][3] Financial Summary - As of March 29, 2024, the company's stock closed at 5.57 yuan, with a market capitalization of 36.322 billion yuan [1] - The company plans to achieve net profits of 1.811 billion yuan, 2.891 billion yuan, and 3.439 billion yuan for the years 2023, 2024, and 2025 respectively [3][4] - The report projects a significant increase in revenue for 2024, with total revenue expected to reach 24.463 billion yuan, reflecting a year-on-year growth of 29.4% [4] - The company's earnings per share are forecasted to be 0.44 yuan for 2024 and 0.53 yuan for 2025, indicating a positive growth trajectory [4] Asset Valuation - The intrinsic value of the company is estimated at 427 billion yuan, derived from its various segments including hydropower, thermal power, and renewable energy [3] - The report emphasizes that the market has not fully recognized the cash flow potential of the company's hydropower assets, which are expected to provide substantial returns [3] - The valuation of the company's non-electricity assets, such as coal and natural gas, is considered strategically significant and is expected to enhance overall company value [2][3]

重要内容提示： 1.会议召开时间：2024 年 4 月 29 日（星期一）下午 15:00-16:30； 2.会议召开方式：音频直播结合网络文字互动 "进门财经"网址：https://s.comein.cn/A9iMn； 证券代码：000883 证券简称：湖北能源 公告编号：2024-016 湖北能源集团股份有限公司 关于举办 2023 年度业绩说明会的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 三、 投资者参会方式 电脑端参会：https://s.comein.cn/A9iMn 手机端参会：下载"进门财经"APP，搜索"000883"进入"湖 北能源（000883）2023 年度业绩说明会"，或扫描下方二维码参会。 "进门财经"APP：搜索000883进入会议。 湖北能源集团股份有限公司（以下简称公司）拟于 2024 年 4 月 27 日在巨潮资讯网（www.cninfo.com.cn)披露《2023 年年度报告》。 为便于广大投资者进一步了解公司发展战略、生产经营等情况，公司 将于 2024 年 4 月 29 日（星期一）召开 2023 年度业绩说 ...

公司2024年3月发电情况表 证券代码：000883 证券简称：湖北能源 公告编号：2024-014 湖北能源集团股份有限公司 关于 2024 年 3 月发电情况的自愿性信息披露公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 为便于投资者及时了解公司生产情况，现将湖北能源集团股份有 限公司（以下简称公司）2024年3月发电量情况公告如下： 2024年3月，公司完成发电量33.09亿千瓦时，同比增加25.67%。 其中水电发电量同比增加114.49%，火电发电量同比减少3.21%，新能 源发电量同比增加43.43%。 公司本年累计完成发电量108.33亿千瓦时，同比增加41.87%。其 中水电发电量同比增加176.10%，火电发电量同比增加12.50%，新能 源发电量同比增加31.89%。 注：上述数据小数位差异主要因四舍五入导致。 单位：亿千瓦时 项目 本月发电量 同比变动 本年累计发电量 同比变动 水电 10.51 114.49% 34.65 176.10% 火电 16.90 -3.21% 60.86 12.50% 新能源 5.68 43.43% 12. ...

证券代码：000883 证券简称：湖北能源 公告编号：2024-012 湖北能源集团股份有限公司 关于与三峡建工签订长阳清江、湖北南漳抽水蓄能项目建 设委托管理合同的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1.《湖北长阳清江抽水蓄能项目建设委托管理合同》《湖北南 漳抽水蓄能项目建设委托管理合同》均为合同各主体法定代表人或 授权代表签署并加盖公章，且各自履行全部决策程序后生效，至完 成合同约定委托管理工作日时止。 2.该合同的履行对公司的正常经营、未来财务状况和经营成果 不会产生重大影响。 一、本次交易概述 1.鉴于湖北长阳清江抽水蓄能项目（以下简称长阳抽蓄项目）、 湖北南漳抽水蓄能电站项目（以下简称南漳抽蓄项目）建设规模大、 地质条件复杂，中国三峡建工（集团）有限公司（以下简称三峡建工） 具有三峡、溪洛渡、向家坝、乌东德、白鹤滩等大型水电工程建设管 理经验，在大型水电工程建设管理能力、水电工程技术等方面实力突 出，为提升项目质量、安全、进度、环保等管理水平，公司拟与三峡 建工签订《湖北长阳清江抽水蓄能项目建设委托管理合同》《湖北南 漳抽 ...

证券代码：000883 证券简称：湖北能源 公告编号：2024-011 一、审议通过了《关于与三峡建工签订长阳清江、湖北南漳抽水 蓄能项目建设委托管理合同的议案》 本议案经公司第九届董事会独立董事专门会议2024年第一次会 议、第九届董事会审计与风险管理委员会2024年第二次会议审议通过， 同意提交董事会审议。 鉴于湖北长阳清江抽水蓄能项目（以下简称长阳抽蓄项目）、湖 北南漳抽水蓄能电站项目（以下简称南漳抽蓄项目）建设规模大、地 质条件复杂，中国三峡建工（集团）有限公司（以下简称三峡建工） 具有三峡、溪洛渡、向家坝、乌东德、白鹤滩等大型水电工程建设管 理经验，在大型水电工程建设管理能力、水电工程技术等方面实力突 出，为提升项目质量、安全、进度、环保等管理水平，有效推进项目 进度，董事会同意公司与三峡建工签订《湖北长阳清江抽水蓄能项目 建设委托管理合同》《湖北南漳抽水蓄能项目建设委托管理合同》， 委托三峡建工组织实施长阳抽蓄项目、南漳抽蓄项目工程建设管理工 作，合同费用分别不超过245,318,410元、343,580,150元。 鉴于中国长江三峡集团有限公司（以下简称三峡集团）为公司、 中国长江电力股份有限公 ...