证券代码：002608 证券简称：江苏国信 公告编号：2024-018 江苏国信股份有限公司 第六届董事会第十五次会议决议公告 | 本公司及董事会全体成员保证信息披露内容的真实、准确和完 | | --- | | 整，没有虚假记载、误导性陈述或重大遗漏。 | 具体内容可见公司于同日刊登在《中国证券报》《上海证券报》 《证券时报》和巨潮资讯网（http://www.cninfo.com.cn）上的《2024 1 年第一季度报告》。 表决结果：7 票赞成，0 票反对，0 票弃权。 二、审议通过《关于合资成立江苏省国信集团研究院有限公司的 议案》 董事会经研究审议，同意公司与江苏省国信集团有限公司、江苏 省新能源开发股份有限公司合资成立江苏省国信集团研究院有限公 司（简称"国信研究院"）。国信研究院注册资本 8,000 万元，其中， 我公司出资 1,600 万元，占注册资本的 20%。 具体内容可见公司于同日刊登在《中国证券报》《上海证券报》 《证券时报》和巨潮资讯网（http://www.cninfo.com.cn）上的《关于 对外投资成立合资公司（国信研究院）暨关联交易的公告》。 江苏国信股份有限公司（以下简称" ...

Financial Performance - Total operating revenue for Q1 2024 reached ¥9,080,758,301.23, an increase of 25.56% compared to the same period last year[4] - Net profit attributable to shareholders was ¥778,631,371.55, representing a significant increase of 202.87% year-on-year[4] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥794,861,212.90, up 208.29% from the previous year[4] - Basic earnings per share for Q1 2024 was ¥0.2061, a 203.09% increase compared to ¥0.0676 in the same quarter last year[4] - Net profit for Q1 2024 was ¥1,094,071,112.04, compared to ¥403,178,625.66 in Q1 2023, representing a 171.5% increase[14] - Operating profit for Q1 2024 was ¥1,270,984,876.88, a substantial increase from ¥491,383,307.30 in Q1 2023, reflecting improved operational efficiency[14] - The total comprehensive income for Q1 2024 was ¥1,094,071,112.04, significantly higher than ¥403,178,625.66 in Q1 2023, indicating strong overall financial performance[14] Cash Flow - The net cash flow from operating activities decreased by 80.12% to ¥98,664,586.63, primarily due to the repayment of borrowed funds by a subsidiary[7] - The total cash inflow from operating activities for Q1 2024 was CNY 10,616,654,832.32, an increase of 12.1% compared to CNY 9,468,093,610.44 in Q1 2023[15] - The net cash flow from operating activities was CNY 98,664,586.63, a significant decrease of 80.2% from CNY 496,403,333.91 in the previous year[15] - Cash inflow from investment activities totaled CNY 7,178,178,523.26, up 5.6% from CNY 6,798,230,584.75 in Q1 2023[15] - The net cash flow from investment activities was CNY 755,733,512.80, a recovery from a negative cash flow of CNY -413,466,060.61 in the same period last year[15] - Cash inflow from financing activities was CNY 3,951,799,053.79, down 57.0% from CNY 9,205,553,109.87 in Q1 2023[16] - The net cash flow from financing activities was CNY -787,158,981.85, compared to a positive cash flow of CNY 2,392,601,275.26 in the previous year[16] - The ending balance of cash and cash equivalents was CNY 9,911,700,453.75, slightly up from CNY 9,895,388,805.68 at the end of Q1 2023[16] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥88,116,498,154.17, a decrease of 0.85% from the end of the previous year[4] - The total assets and equity amounted to ¥88,116,498,154.17 and ¥40,653,788,893.76 respectively, showing a slight decrease in total liabilities and equity compared to the previous period[12] - The company's current assets totaled ¥28.40 billion, down from ¥29.91 billion, indicating a decrease of about 5.03%[10] - The long-term equity investments increased to ¥18.26 billion from ¥17.77 billion, representing a growth of approximately 2.76%[10] - The total liabilities decreased to ¥47.46 billion from ¥49.43 billion, showing a reduction of about 4.00%[11] - The company's cash and cash equivalents stood at ¥10.13 billion, up from ¥10.04 billion, marking an increase of approximately 0.89%[10] - The accounts receivable slightly increased to ¥3.74 billion from ¥3.73 billion, reflecting a marginal growth of about 0.02%[10] - The inventory decreased to ¥1.27 billion from ¥1.53 billion, indicating a decline of approximately 17.19%[10] - The company's short-term borrowings decreased to ¥4.28 billion from ¥4.85 billion, a reduction of about 11.63%[11] - The total owner's equity remained stable at ¥3.78 billion, unchanged from the previous period[11] - The company's other non-current assets increased to ¥186.39 million from ¥155.07 million, reflecting a growth of approximately 20.19%[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,896[8] - Jiangsu Guoxin Group Co., Ltd. holds 73.82% of the shares, making it the largest shareholder[8] Government Subsidies - The company received government subsidies amounting to ¥4,065,835.25 during the reporting period[5] Tax and Expenses - Tax expenses for Q1 2024 were ¥171,660,739.30, compared to ¥86,757,900.73 in Q1 2023, reflecting an increase in tax obligations due to higher profits[14] - The company reported a total operating cost of ¥8,319,092,227.09, which is a 13.6% increase from ¥7,322,529,057.16 in the same period last year[13] - Interest income decreased to ¥2,422,487.88 from ¥3,079,569.92, indicating a decline in interest-earning assets[13] - The company’s investment income was ¥490,554,757.62, down from ¥552,204,296.72, suggesting a reduction in returns from investments[14] Audit Information - The company did not undergo an audit for the Q1 2024 report[17]

Investment Rating - The report maintains a "Buy" rating for the company, with a projected increase in earnings per share (EPS) for the years 2024 to 2026 [3][4][9]. Core Views - The company reported a significant increase in net profit for 2023, achieving a net profit of 1.87 billion yuan, a year-on-year increase of 3014.4% [3]. - The financial segment of the company showed robust growth, with revenue from financial operations reaching 3 billion yuan, up 21.3% year-on-year, contributing significantly to overall profits [3]. - The company is expected to continue benefiting from a downward trend in coal prices, which will help in cost control and improve profit margins in the coal power business [3][4]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 34.57 billion yuan, a year-on-year increase of 6.4% [3]. - The total power generation reached 70.65 billion kWh, an increase of 6.3% year-on-year, driven by increased electricity demand in Jiangsu [3]. - The average on-grid electricity price was 0.473 yuan/kWh, up 2.6% year-on-year, providing strong support for revenue [3]. Coal Power Business - The company’s coal power output in Jiangsu was 42.18 billion kWh, a year-on-year increase of 5.3% [3]. - The average coal price decreased by 24% year-on-year to 966 yuan/ton, which positively impacted the company's cost structure [3]. - The company’s gross margin for the power business improved to 11.0%, an increase of 11.8 percentage points year-on-year [3]. Financial Segment - The financial segment's total profit reached 2.71 billion yuan, accounting for 76.1% of the company's total profit, with a contribution rate of 50% [3]. - The subsidiary Jiangsu Trust focused on asset management and quickly developed various financial products, enhancing overall profitability [3]. Future Outlook - The company is projected to achieve net profits of 3.12 billion yuan, 3.51 billion yuan, and 3.74 billion yuan for the years 2024, 2025, and 2026 respectively [3]. - The expected EPS for the same years is 0.83 yuan, 0.93 yuan, and 0.99 yuan, indicating a positive growth trajectory [3].

Investment Rating - The report maintains a "Cautious Recommendation" rating for the company, with a target price of 8.76 CNY based on a PE of 12.0 times [4][11]. Core Views - The company reported a significant increase in net profit for 2023, achieving 1.87 billion CNY, a year-on-year growth of 3014.44% [1]. - The financial segment has provided a stable performance cushion, with revenues of 3.004 billion CNY, up 21.3% year-on-year [1]. - The company expects a substantial increase in net profit for Q1 2024, projected at 779 million CNY, a year-on-year increase of 202.9% [2]. Summary by Sections Financial Performance - In 2023, the company achieved operating revenue of 34.572 billion CNY, a year-on-year increase of 6.38% [1]. - The company’s total power generation reached 706.54 billion kWh, up 6.3% year-on-year, with significant contributions from coal-fired power plants in Jiangsu and Shanxi [1]. - The financial segment's investment income was a key contributor, with net investment income increasing by 47.2% to 2.107 billion CNY [1]. Profitability Forecast - The company adjusted its earnings per share (EPS) forecast for 2024 and 2025 to 0.73 CNY and 0.89 CNY, respectively, with a new 2026 EPS forecast of 1.01 CNY [2]. - The report indicates that the coal price is in a downward trend, which is expected to positively impact the company's performance in the upcoming quarters [2]. Market Position - The company’s coal procurement structure optimization and the rapid decline in coal prices are expected to enhance its coal-fired power performance [2]. - The report highlights that the Shanxi power plants have a significant cost advantage due to lower fuel costs, contributing to improved profitability [1].

[Table_Header] 公司点评●电力 2024年 04 月12 日 [Table_Title] [Table_StockCode] 江苏国信(002608) 长期成长性高，煤电装机进入释放期 [Table_InvestRank] 推荐 (维持) --江苏国信 2023 年报点评 核心观点： 分析师 [Table事_S件um：m公ar司y]发 布 2023年年报，全年实现营收 345.72亿元，同比增长 6.38%； [陶Ta贻b功le_ Authors] 实现归母净利 18.70 亿元（扣非 17.96 亿元），同比增长 3014.44%（扣非同比 ：010-80927673 增长 1835.13%）。2023 年利润分配预案为每 10 股派发现金 1 元（含税），现 ：taoyigong_yj@chinastock.com.cn 金分红金额 3.78亿元（含税），占公司 2023年末累计可分配利润的 57.97%， 分析师登记编码：S0130522030001 展现了较强的分红意愿。  煤价下行，盈利能力大幅改善。 梁悠南 分板块来看，公司能源板块营收 336.93亿元，同比增长 6.57%， ...

Financial Performance - Total operating revenue for 2023 reached CNY 34.57 billion, an increase of 6.38% compared to CNY 32.50 billion in 2022[15]. - Net profit attributable to shareholders was CNY 1.87 billion, a significant increase of 3,014.44% from CNY 60.05 million in 2022[15]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1.80 billion, up 1,835.13% from a loss of CNY 103.49 million in 2022[15]. - The net cash flow from operating activities was CNY 3.79 billion, a decrease of 18.74% compared to CNY 4.67 billion in 2022[15]. - Basic and diluted earnings per share for 2023 were CNY 0.50, a 2,400.00% increase from CNY 0.02 in 2022[15]. - Total assets at the end of 2023 were CNY 88.87 billion, reflecting a 6.70% increase from CNY 83.29 billion at the end of 2022[15]. - The weighted average return on net assets was 6.64%, up from 0.21% in 2022[15]. - The company achieved a total operating revenue of CNY 34.572 billion, representing a year-on-year growth of 6.38%, and a profit before tax of CNY 3.465 billion, up 1330.56% year-on-year[28]. - The financial segment achieved an operating income of 3.004 billion yuan, a year-on-year increase of 21.26%, and a total profit of 2.711 billion yuan, up 22.49% year-on-year, driven by stable business development and increased profit contributions[31]. Business Transformation - The company has undergone a significant business transformation since the end of 2016, shifting its main operations from shipbuilding to energy and trust services[13]. - The company’s major shareholder changed from Jiangsu Shuntian International Group Co., Ltd. to Jiangsu Guoxin Group Co., Ltd. in January 2017[13]. - The company has undergone accounting policy changes and restatements due to mergers under common control, impacting previous financial data[15]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 1 yuan (including tax) for every 10 shares, totaling approximately 377.81 million yuan to all shareholders[4]. - The company reported a cash dividend of 1 CNY per 10 shares, totaling 377,807,970.40 CNY, which accounts for 57.97% of the distributable profits as of December 31, 2023[134]. Operational Highlights - In 2023, the total power generation capacity of the company reached 20.45 million kW, with 15.45 million kW already in operation, including 12.86 million kW from coal power and 2.59 million kW from gas power[25]. - The company achieved a total power generation of 70.654 billion kWh, a year-on-year increase of 6.30%, with coal-fired units in Jiangsu generating 42.177 billion kWh, up 5.34% year-on-year[30]. - The company’s coal power generation hours increased by 92 hours year-on-year to 4685 hours in 2023, contributing to the overall growth in electricity consumption[23]. - The company has initiated several new projects, including the expansion of the Guoxin Jiangyin 2×100 MW units and the construction of various photovoltaic projects, contributing to future growth[30]. Environmental Compliance - The company complies with environmental protection standards and has obtained all necessary environmental permits for its construction projects[144]. - Jiangsu Guoxin Co., Ltd. reported SO2 emissions of 265.964 tons, NOx emissions of 375.138 tons, and particulate matter emissions of 30.471 tons, adhering to the emission standards of SO2 ≤ 1385.05 tons/year, NOx ≤ 2770.14 tons/year, and particulate matter ≤ 452 tons/year[146]. - The company invested approximately 53.43 million yuan in environmental protection in 2023 and paid 4.07 million yuan in environmental protection taxes[153]. - The company has maintained an operational rate of over 99% for its desulfurization, denitrification, and dust removal systems, complying with national ultra-low emission standards[156]. Research and Development - The company has established a research and development team, significantly increasing R&D investment to enhance production efficiency of its power generation units[39]. - Research and development expenses increased by 213.26% to CNY 6.5565 million, driven by new projects[44]. - The number of R&D personnel increased to 79 in 2023 from 54 in 2022, representing a growth of 46.30%[60]. - R&D investment amounted to ¥12,501,969.12 in 2023, a significant increase of 497.33% compared to ¥2,092,961.98 in 2022[62]. Corporate Governance - The company has a total of seven board members, including three independent directors, ensuring a balanced governance structure[99]. - The company has implemented a robust internal audit system to enhance operational compliance and protect shareholder rights[100]. - The company maintains a clear separation from its controlling shareholder, Jiangsu Guoxin Group, ensuring independence in operations, personnel, assets, and finances[102]. - The company has established a commitment to avoid any financial intermingling with controlling parties, ensuring that no funds are occupied or misused[168]. Strategic Initiatives - The company is actively exploring new energy technologies, including electrochemical energy storage and hydrogen energy, and has established a demonstration project in molten salt technology[28]. - The company plans to continue investing in new technologies and products to drive future growth and market expansion[78]. - Jiangsu Guoxin's strategic focus includes expanding its renewable energy portfolio and enhancing its market presence through acquisitions and joint ventures[77]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 1 billion RMB allocated for potential mergers and acquisitions[114]. Risk Management - The company has outlined potential risks and countermeasures in its future development outlook section of the report[3]. - The company is enhancing its risk management framework to address operational, credit, and other risks, ensuring robust internal controls and compliance measures[95]. - The company is actively managing policy and legal compliance risks, ensuring adherence to new regulations and maintaining a strong corporate governance structure[95]. Employee Management - The company has a total of 228 employees, with 98% holding a bachelor's degree or higher, and 42 personnel with professional qualifications such as CPA and CFA[40]. - The total number of employees at the end of the reporting period was 5,563, with 2,967 in production, 290 in sales, 943 in technology, 128 in finance, and 1,235 in administration[127]. - The company has implemented a social security system for employees, ensuring compliance with national laws and regulations regarding employee benefits[129]. - The company has established targeted training programs to enhance employee skills based on their career development needs[130].

股票代码：002608 股票简称：江苏国信 46.3 Z JS 股 票 代 码： 002608 下榻赴会及倉盛顿营 EAANOS בעד, סכותר, פסכותר, טחו 江苏国信股份有限公司 | 2023 年环境、社会及治理报告 关于本报告 编制依据 本报告重点参考以下标准进行编制，注重立足行业背景，突出企业特色： l 001 报告简介 本报告是江苏国信股份有限公司发布的第二份《环境、社会及治理报告》（以下简称"本 报告"），以向利益相关方等披露和展示公司在环境、社会及治理领域的绩效。本报告经 公司审阅，并对所载信息的真实性及有效性负责。 本报告涵盖时间范围若无特殊说明，均为 2023 年 1 月 1 日至 2023 年 12 月 31 日。为保证 时间范围 报告的完整性，部分信息时间范围进行了前后延伸。 除另有说明，本报告以江苏国信股份有限公司为主体部分，涵盖公司总部及其子公司等， 报告范围 数据披露范围与财务报告合并报表范围一致。其他范围与此有差异的内容，将会在报告中 进行说明。 本报告全部信息数据来源包括政府部门公开数据、公司的正式文件、公开披露文件和内部 数据来源 相关统计等。报告所引用的财务 ...

江苏国信股份有限公司 审计报告 苏亚审〔2024〕 492 号 审计机构:苏亚金诚会计师事务所(特殊普通合伙) 您可使用手机"扫一扫"或进入"注册会计师行业绩一监管平台（http://xc.mof.gov.cn) 2 投告编码:苏24V2 址:南京市泰山路 159 号正太中心 A 座 14-16 层 量 编:210019 邮 传 真:025-83235046 电 话:025-83235002 网 址: www. syjc.com 电子信箱:info@syjc.com 苏亚金诚会计师事务所(黔 苏 亚 审〔2024〕 492 号 审计报告 江苏国信股份有限公司全体股东: 一、审计意见 我们审计了江苏国信股份有限公司(以下简称江苏国信)财务报表,包括2023年12 月 31 日的合并资产负债表及资产负债表,2023年度的合并利润表及利润表、合并现金流 量表及现金流量表、合并所有者权益变动表及所有者权益变动表以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映 了江苏国信 2023年12月 31 日的财务状况以及 2023 年度的经营成果和现金流量。 二、形成审计意见的 ...

江苏国信股份有限公司 董事会审计委员会工作细则 第一章 总则 第一条 为强化董事会的决策功能，做到事前审计、专 业审计，确保董事会对经营层的有效监督，完善公司治理结 构，根据《中华人民共和国公司法》《上市公司治理准则》、 《江苏国信股份有限公司章程》（以下简称《公司章程》） 及其他有关规定，公司设立董事会审计委员会（以下简称审 计委员会），并制定本工作细则。 第二条 审计委员会是董事会设立的专门委员会，对董 事会负责，向董事会报告工作。 第二章 人员组成 第三条 审计委员会成员由三名董事组成。审计委员会 成员应当为不在上市公司担任高级管理人员的董事，其中独 立董事应当过半数。全部成员均须具有能够胜任审计委员会 工作职责的专业知识和商业经验，其中至少有一名独立董事 为会计专业人士。 第四条 审计委员会委员由董事长、二分之一以上独立 董事或者全体董事的三分之一提名，并由董事会选举产生并 任命。 第五条 审计委员会设主任委员一名，由独立董事委员 担任，负责主持审计委员会工作，主任委员须具备会计或财 务管理相关的专业经验；主任委员由董事会在委员会成员内 直接选举产生。 （一）披露财务会计报告及定期报告中的财务信息、内 ...

关于江苏国信股份有限公司 涉及江苏省国信集团财务有限公司 关联存贷款情况的专项报告 苏亚专审〔2024〕70 号 审计机构:苏亚金诚会计师事务所(特殊普通合伙) 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）" 址:南京市泰山路 159 号正太中心 A 座 14-16 层 # 邮 编:210019 真:025-83235046 传 电 话: 025-83235002 网 址: www.syjc.com 电子信箱:info@syjc.com 苏亚金诚会计师事务所得 ** 苏 亚 专 审〔2024〕70 号 关于江苏国信股份有限公司 涉及江苏省国信集团财务有限公司 关联存贷款情况的专项报告 江苏国信股份有限公司全体股东: 我们接受委托,在审计了江苏国信股份有限公司(以下简称"江苏国信")财务报表, 包括2023年12月31日的合并资产负债表及资产负债表,2023年度的合并利润表及利润表、 合并现金流量表及现金流量表、合并所有者权益变动表及所有者权益变动表以及相关财务 报表附注的基础上,对后附的《江苏国信股份有限公司 2023 年度涉及江苏省国信集团财 务有限 ...