中国广核电力股份有限公司 投资者关系活动记录表 编号：2023-004 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系活动 □新闻发布会 路演活动 类别 □现场参观 □其他 外部参与人员： 申万宏源、中金公司、中信银行、鹏华基金、博时基金、南方基金、 活动参与人员 安信证券等机构分析师和投资者，共计约 45 人。 公司参与人员： 证券事务代表单菁 时间 2023 年 5 月 11 日 14:30-16:30 地点 深圳大中华希尔顿酒店 形式 现场会议 2023 年 5 月 11 日，公司参加了控股股东旗下上市公司集体路 交流内容及具体 演活动。 问答记录 路演活动中，公司证券事务代表单菁介绍了公司总体情况及一 季度业绩相关情况，并与参会者就关注问题进行交流，相关问题如 下： 1.公司对未来核电新项目核准预期 答：积极安全有序发展核电，是党的二十大明确作出的战略部署。 公司核电厂址储备位于国内前列，目前公司正在积极推动宁德二期 等项目申报工作，公司将积极认真做好各项目的前期准备和相关申 报工作，力争实现更多核电项目早日核准。 2.公司一季度市场化情况 答：今年一季度公司市场化交易电量比例为 ...

Financial Performance - The total operating revenue for Q1 2023 was approximately CNY 18.29 billion, representing a 6.47% increase compared to CNY 17.18 billion in the same period last year[4] - The net profit attributable to shareholders for Q1 2023 was approximately CNY 3.49 billion, a 22.25% increase from CNY 2.85 billion year-on-year[4] - The profit before tax for Q1 2023 was approximately CNY 6.20 billion, reflecting a 19.8% increase from the previous year[7] - The basic earnings per share for Q1 2023 was CNY 0.069, a 23.21% increase from CNY 0.056 in the same period last year[4] - Net profit for Q1 2023 was ¥5.22 billion, representing a 22.49% increase from ¥4.26 billion in Q1 2022[21] - The net profit attributable to the parent company was ¥3.49 billion, compared to ¥2.85 billion in the same period last year, marking a growth of 22.23%[21] - The total profit for Q1 2023 was ¥6.20 billion, an increase of 19.73% from ¥5.17 billion in Q1 2022[20] Cash Flow and Investments - The net cash flow from operating activities for Q1 2023 was approximately CNY 4.46 billion, up 13.07% from CNY 3.94 billion in the previous year[4] - Cash paid for the construction of fixed assets, intangible assets, and other long-term assets increased by 46.4% to RMB 328,614.18 million, primarily due to increased investment expenditures in ongoing nuclear power projects[11] - Cash paid for investment activities rose significantly by 149.7% to RMB 29,568.96 million, mainly due to an increase in fixed deposits over three months[11] - The net cash flow from financing activities was CNY 322,975,190.57, a significant improvement from a net outflow of CNY 1,103,071,434.86 in Q1 2022[24] - The net increase in cash and cash equivalents for Q1 2023 was CNY 3,139,476,869.37, compared to CNY 2,009,132,058.81 in Q1 2022, representing a 56.2% increase[24] Assets and Liabilities - The total assets at the end of Q1 2023 were approximately CNY 412.69 billion, a 0.90% increase from CNY 409.02 billion at the end of the previous year[4] - The company's total liabilities amounted to CNY 251.78 billion, compared to CNY 251.09 billion previously, showing a slight increase of about 0.27%[19] - Current assets totaled CNY 73.65 billion, up from CNY 70.50 billion, indicating a growth of about 3.06%[18] - Short-term borrowings increased to CNY 14.26 billion from CNY 11.93 billion, representing a rise of approximately 19.5%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 237,960, with 234,699 A-share holders and 3,261 H-share holders[12] - The largest shareholder, China General Nuclear Power Corporation, holds 58.91% of the shares, totaling 29,746,876,375 shares[12] - The company plans to distribute a cash dividend of RMB 0.87 per 10 shares (including tax) for the 2022 fiscal year, pending shareholder approval[16] Research and Development - Research and development expenses for Q1 2023 amounted to CNY 210.07 million, a 57.4% increase compared to CNY 133.45 million in the previous year[9] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] Operational Highlights - The total power generation for the group in Q1 2023 was about 54.87 billion kWh, an increase of 11.84% compared to the same period last year[7] - Fangchenggang Unit 3 has completed all debugging work and is ready for commercial operation as of March 25, 2023[14] - The temporary on-grid electricity price for the Fangchenggang Unit 3 has been approved at RMB 0.4063 per kilowatt-hour (including tax) starting from its commercial operation[15]

Financial Performance - The company reported a significant increase in revenue, with total operating income reaching 100 billion RMB, representing a year-on-year growth of 15%[7]. - The company reported a net profit of 8 billion RMB for the year, reflecting a 10% increase compared to the previous year[7]. - Operating revenue for 2022 was CNY 82,822,403,586.43, representing a 2.66% increase from CNY 80,678,744,757.95 in 2021[12]. - Net profit attributable to shareholders was CNY 9,964,854,412.04, a 2.06% increase from CNY 9,732,589,251.46 in 2021[12]. - The company achieved a consolidated revenue of approximately 82.82 billion CNY in 2022, reflecting a year-on-year growth of 2.66%, while the net profit attributable to shareholders was approximately 9.965 billion CNY, an increase of 2.06%[33]. - The company reported a total revenue of CNY 24,407,376,810.55 in Q4 2022, with a net profit of CNY 1,174,782,236.45[17]. - The company plans to maintain a stable growth trajectory, with a performance guidance of 10-15% revenue growth for the upcoming fiscal year[7]. - Future guidance indicates an expected revenue growth of 12% for the next fiscal year, driven by increased demand for clean energy solutions[122]. Dividend Policy - The company plans to distribute a cash dividend of 0.87 RMB per 10 shares to all shareholders based on a total share capital of 50,498,611,100 as of the profit distribution record date for 2022[2]. - The company has established a clear cash dividend policy, ensuring that the dividend distribution ratio will not be less than 30% of the net profit attributable to shareholders[158]. - The company plans to distribute a cash dividend of RMB 0.87 per 10 shares, totaling RMB 4,393,379,165.70, which represents 100% of the distributable profit[161]. Operational Efficiency - The company is focusing on enhancing operational efficiency, aiming for a 5% reduction in operational costs by implementing new management strategies[7]. - The company has implemented continuous cost optimization management, reducing operational and maintenance costs through management improvements and technological innovations[28]. - The company has a strong cost control capability in nuclear projects, integrating design, procurement, construction, and operation to optimize costs from the outset of nuclear power plant design[29]. - The company plans to enhance its digital and intelligent technology applications to improve the safety and economic efficiency of nuclear power plants[74]. - The company aims to reduce operational costs by 15% through improved supply chain management strategies[134]. Market Expansion - The company aims to expand its market presence by increasing its overseas projects, targeting a 20% growth in international revenue by 2025[7]. - Market expansion efforts include entering two new international markets, aiming for a 10% increase in overseas revenue by 2024[122]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% market share by 2025[134]. Research and Development - The company is investing in new technology development, with a budget of 1 billion RMB allocated for R&D in advanced nuclear reactor designs over the next three years[7]. - The company has established a comprehensive R&D system with over 4,700 R&D personnel and multiple national-level research centers, focusing on advanced nuclear technologies and innovation[31]. - R&D investment increased by 26.51% to ¥3,852,536,093.51 in 2022, compared to ¥3,045,287,615.11 in 2021[75]. - The R&D department has reported a 40% increase in efficiency due to the implementation of new technologies[134]. Environmental Commitment - The company achieved a reduction of approximately 5.981 million tons of standard coal consumption and a decrease in CO2 emissions by about 16.425 million tons in 2022[27]. - The company has established a comprehensive radioactive waste management mechanism, ensuring that emissions of gaseous and liquid radioactive waste remain below national limits[183]. - The company invested approximately RMB 393.05 million in environmental protection measures, including RMB 328.10 million for spent fuel disposal and RMB 50.77 million for nuclear facility decommissioning reserves in 2022[181]. - The company has completed pollution discharge registration for its nuclear power plants, with valid periods extending to 2025 and 2026[175]. Safety and Compliance - The company maintained a good safety record, with no Level 2 or above nuclear incidents reported in its history[35]. - The company emphasizes a commitment to safety and quality, aiming to align with international standards and continuously improve the safety performance of its nuclear power plants[93]. - The company has established emergency response plans for environmental incidents across all its nuclear power stations[179]. - The company is committed to continuous improvement in safety management and emergency preparedness in nuclear operations[151]. Governance and Management - The company has a highly experienced management team, with senior management having over 20 years of experience in the nuclear power industry[32]. - The board of directors includes experienced professionals with backgrounds in finance, engineering, and management, ensuring strong governance and oversight[122]. - The company has established a structured governance framework that clarifies management authority at all levels, enhancing accountability[166]. - The supervisory board confirmed that there were no violations of laws or regulations by the board of directors or management during the reporting period[152]. Community Engagement - The company has committed approximately RMB 40.38 million to social responsibility initiatives, including rural revitalization and disaster relief efforts in 2022[184]. - The company conducted over 100 clean energy science popularization activities, engaging nearly 5,000 volunteers and reaching over 1.1 billion views on social media for its clean energy initiatives[186]. - The company has engaged in community development initiatives, such as incorporating the Daya Bay Nuclear Power Base into a tourism route to promote local economic growth[187]. - The company facilitated over 8 million yuan in additional income for villagers through tourism and hospitality initiatives in Fujian Province[193].

Financial Performance - In Q3 2022, the company's operating revenue was approximately CNY 21.79 billion, a decrease of 2.14% compared to the same period last year[4] - The net profit attributable to shareholders was approximately CNY 2.89 billion, reflecting an 11.05% decline year-over-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 2.82 billion, down 12.44% from the previous year[4] - The profit for the first nine months of 2022 was approximately CNY 15.87 billion, a decrease of about CNY 1.89 billion compared to the previous year[8] - The net profit attributable to shareholders for the first nine months was approximately CNY 8.79 billion, an increase of about CNY 0.48 billion year-over-year[8] - Total operating revenue for the third quarter of 2022 was approximately ¥58.42 billion, a decrease of 1.21% from ¥59.13 billion in the same period last year[20] - Net profit for the third quarter was approximately ¥13.10 billion, a decrease of 5.91% compared to ¥13.92 billion in the previous year[21] - The net profit attributable to shareholders of the parent company was approximately ¥8.79 billion, slightly up by 0.55% from ¥8.74 billion year-over-year[21] - Total profit for the third quarter was approximately ¥15.86 billion, down 1.18% from ¥16.05 billion in the same period last year[21] Cash Flow - The company's net cash flow from operating activities for the year-to-date was approximately CNY 24.33 billion, down 9.18% compared to the same period last year[4] - The cash inflow from operating activities for the current period was ¥67,009,351,014.39, a decrease of 2.93% compared to ¥69,031,322,940.91 in the previous period[22] - The net cash flow from operating activities was ¥24,328,787,492.92, down 9.14% from ¥26,788,116,606.67 in the same period last year[22] - The cash inflow from investment activities totaled ¥4,350,911,660.21, an increase of 1.81% from ¥4,273,302,451.14 in the previous period[22] - The net cash flow from investment activities was -¥6,993,975,432.71, an improvement from -¥9,969,284,857.76 in the previous year[22] - The cash inflow from financing activities was ¥61,133,965,807.63, an increase of 29.25% compared to ¥47,285,033,418.58 in the previous period[23] - The net cash flow from financing activities was -¥16,446,426,572.38, slightly worse than -¥16,225,377,742.60 in the same period last year[23] - The total cash and cash equivalents at the end of the period amounted to ¥12,415,504,764.29, up from ¥9,293,145,612.84 in the previous year[23] Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 402.10 billion, showing a slight increase of 0.52% compared to the end of the previous year[4] - As of September 30, 2022, current assets totaled CNY 67.07 billion, a decrease of 1.32% from CNY 67.97 billion at the beginning of the year[18] - Total liabilities amounted to CNY 244.91 billion, a decrease of 1.67% from CNY 249.08 billion[19] - Short-term borrowings decreased to CNY 14.48 billion from CNY 16.37 billion, a reduction of 11.56%[19] - The company's total equity increased to CNY 157.20 billion, up 4.93% from CNY 150.95 billion[19] - The non-current assets totaled CNY 335.04 billion, an increase from CNY 332.07 billion[18] - The company's total debt, including both current and non-current liabilities, was CNY 244.91 billion, representing a significant portion of the total assets[19] Revenue and Expenses - The total electricity generated by the company's nuclear power units from January to September 2022 was approximately 142.84 billion kWh, a decrease of 4.17% year-over-year[7] - The company reported a basic earnings per share of CNY 0.0571, down 11.06% from the previous year[4] - The company reported a basic earnings per share of ¥0.1741, compared to ¥0.1731 in the previous year[21] - Research and development expenses increased to approximately ¥885.73 million, up 20.24% from ¥736.31 million in the previous year[20] - The company reported a significant increase in inventory, rising to CNY 15.52 billion from CNY 15.25 billion, a growth of 1.77%[18] - The company reported a 34.80% increase in taxes and surcharges to RMB 58,045.84 million, driven by increased sales revenue from nuclear power plants[10] - Sales expenses decreased by 48.61% to RMB 3,013.98 million, primarily due to reduced sales activities impacted by the pandemic[10] Shareholder Information - The company’s major shareholder, China General Nuclear Power Group, holds 58.82% of the shares[12] - The company received government subsidies amounting to approximately CNY 5.25 million during the reporting period[6] Receivables and Investments - Accounts receivable decreased by 99.82% to RMB 304.76 million due to the recovery of matured notes from Ningde Nuclear Power[9] - Other receivables increased by 273.89% to RMB 19,935.73 million, primarily due to an increase in land transfer deposit payments[9] - Contract assets rose by 32.76% to RMB 444,298.62 million, mainly from the increase in contract assets for offshore wind power projects[9] - Investment income received increased by 40.13% to RMB 69,480.00 million, attributed to higher dividend distributions from joint ventures[11] - Cash flow from investing activities surged by 574.49% to RMB 81,002.18 million, mainly due to cash payments for acquiring equity in a subsidiary[11]

Financial Performance - The operating revenue for the first half of 2022 was CNY 36,622,093,484.82, a decrease of 0.66% compared to the same period last year[11]. - The net profit attributable to shareholders was CNY 5,904,498,333.83, representing an increase of 7.39% year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 5,724,735,515.70, up by 5.38% compared to the previous year[11]. - The net cash flow from operating activities was CNY 12,936,515,886.58, a decline of 17.79% from the same period last year[11]. - The total assets at the end of the reporting period were CNY 404,084,544,716.51, an increase of 1.01% compared to the end of the previous year[11]. - The net assets attributable to shareholders at the end of the reporting period were CNY 102,836,631,931.73, reflecting a growth of 1.88% year-on-year[11]. - The basic earnings per share for the first half of 2022 was CNY 0.117, an increase of 7.34% compared to the same period last year[11]. - The diluted earnings per share also stood at CNY 0.117, marking a 7.34% increase year-on-year[11]. - The weighted average return on equity was 5.72%, up by 0.07 percentage points from the previous year[11]. Operational Highlights - The company manages 26 operational nuclear units and 6 under construction, with a total installed capacity of 29,380 MW and 7,180 MW, respectively, accounting for 52.85% and 33.03% of the national total for operational and under-construction nuclear capacity[16]. - In the first half of 2022, the company's managed nuclear power plants generated a total of 92.835 billion kWh, representing 49.77% of the national nuclear power generation[18]. - The company achieved a reduction in standard coal consumption by approximately 27.832 million tons and a reduction in CO2 emissions by about 76.868 million tons in the first half of 2022[18]. - The company maintains a high operational management level, with 84.38% of performance indicators for operational units in the top 25% globally and 82.64% in the top 10%[20]. - All 26 operational nuclear units managed by the company achieved safe and stable operation in the first half of 2022[35]. Environmental Impact - The company has a significant environmental impact, with substantial reductions in emissions contributing to sustainable development goals[17]. - The company reported a reduction of approximately 27.83 million tons of carbon dioxide emissions due to its nuclear power generation in the first half of 2022[42]. - The company has implemented a comprehensive radioactive waste management mechanism, ensuring that emissions are below national approved limits[93]. - The company’s nuclear power stations have effectively managed radioactive waste and maintained compliance with environmental standards[89]. - The company has conducted environmental impact assessments for all ongoing nuclear power projects, receiving approvals from the Ministry of Ecology and Environment[90]. Research and Development - The company has developed the self-owned third-generation nuclear technology "Hualong One," which is being used in multiple ongoing projects[23]. - The company has established a national engineering technology center and multiple national-level R&D centers to enhance its research and development capabilities[24]. - R&D investment amounted to approximately RMB 1.16 billion in the first half of 2022, promoting deep localization of key nuclear energy systems and components[94]. Financial Management - The company has reduced its foreign currency borrowings by approximately RMB 467 million compared to the end of 2021, effectively managing exchange rate risks[55]. - As of June 30, 2022, the company has approximately RMB 136.144 billion in unused bank credit facilities and RMB 18.838 billion in cash, ensuring sufficient liquidity for operations[55]. - The company reported a significant increase in cash and cash equivalents to CNY 18,837,507,511.19 from CNY 15,827,729,811.43[157]. - The company’s long-term equity investments increased to CNY 13,008,571,701.80 from CNY 12,457,405,017.92[158]. Community Engagement - The company actively participated in the "Rural Revitalization" strategy, implementing 12 assistance projects in the first half of 2022[98]. - A total of RMB 17.11 million was invested in targeted poverty alleviation efforts, focusing on industrial, ecological, and talent revitalization in Guangxi, Guangdong, and Fujian provinces[98]. - The company donated 60 tablets and various teaching aids worth approximately RMB 120,000 to 8 rural primary schools, benefiting over 1,600 students and teachers[100]. - The company organized 5 media communication and press conferences in the first half of 2022 to enhance transparency and public trust in nuclear energy[95]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[2]. - The company has maintained a non-standard audit report status for the half-year financial report[110]. - The company has not experienced any bankruptcy restructuring matters during the reporting period[112]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[110].

Financial Performance - The company's operating revenue for Q1 2022 was approximately RMB 17.18 billion, a slight increase of 0.17% compared to the same period last year[4]. - Net profit attributable to shareholders for Q1 2022 reached approximately RMB 2.85 billion, representing a year-on-year increase of 20.10%[4]. - The total operating revenue for Q1 2022 was CNY 17,177,711,032.09, a slight increase from CNY 17,148,253,459.92 in Q1 2021, representing a growth of approximately 0.17%[19]. - Net profit for Q1 2022 was CNY 4,263,667,424.10, up from CNY 3,808,829,160.29 in the same period last year, indicating an increase of approximately 11.93%[20]. - The total comprehensive income for the first quarter of 2022 was CNY 4,240,422,163.67, an increase from CNY 3,878,294,824.72 in the same period last year, representing a growth of approximately 9.34%[21]. - The basic and diluted earnings per share for the first quarter were both CNY 0.056, compared to CNY 0.047 in the same period last year, marking an increase of 19.15%[21]. Cash Flow and Investments - The net cash flow from operating activities decreased by 46.96% to approximately RMB 3.94 billion compared to the previous year[4]. - The cash inflow from investment activities surged by 1976.30% to approximately RMB 153.78 million, mainly due to the maturity of fixed-term deposits[9]. - Net cash flow from investment activities improved by 78.59% to CNY -82,603.11 million, influenced by the same factors as above[10]. - Cash flow from financing activities showed a net outflow of CNY -110,307.14 million, a 63.61% improvement compared to the previous period, as inflows from new borrowings exceeded outflows for debt repayments[10]. - The net increase in cash and cash equivalents was CNY 200,913.21 million, representing a 272.46% increase, driven by the combined effects of operating, financing, and investment activities[10]. - The cash inflow from financing activities was CNY 27,445,204,032.55, significantly higher than CNY 12,642,290,671.34 in the previous year, indicating a growth of approximately 117.56%[24]. - The total cash outflow from financing activities was CNY 28,548,275,467.41, compared to CNY 15,673,726,174.49 in the previous year, representing an increase of about 82.00%[24]. Assets and Liabilities - The company's total assets at the end of the reporting period were approximately RMB 403.20 billion, reflecting a 0.80% increase from the previous year[4]. - The company's total assets amounted to CNY 403,197,706,334.65, compared to CNY 399,993,007,845.38 at the end of the previous period, showing a growth of about 0.52%[18]. - Total liabilities were reported at CNY 249,803,898,027.73, a slight increase from CNY 249,082,576,221.41, reflecting a growth of approximately 0.29%[18]. - Total current assets rose to CNY 71,447,014.39 million from CNY 67,966,150.83 million, reflecting an increase in cash and receivables[16]. - Long-term equity investments increased by CNY 400,210.22 million, indicating growth in the company's investment portfolio[16]. Research and Development - Research and development expenses for Q1 2022 were CNY 133,452,979.10, down from CNY 210,620,865.83, representing a decrease of about 36.67%[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 286,276, with the largest shareholder holding 58.82% of the shares[11]. - The company plans to distribute a cash dividend of CNY 0.84 per share, pending approval at the annual general meeting[14]. Future Plans - The company plans to continue expanding its market presence and enhancing its operational efficiency through strategic investments and technology development[6]. - The company plans to continue focusing on market expansion and technological innovation to drive future growth[19].

Financial Performance - The company's operating revenue for 2021 was CNY 80.68 billion, an increase of 14.30% compared to CNY 70.58 billion in 2020[10]. - The net profit attributable to shareholders for 2021 was CNY 9.73 billion, reflecting a 1.78% increase from CNY 9.56 billion in 2020[10]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 9.73 billion, up 3.42% from CNY 9.41 billion in 2020[10]. - The net cash flow from operating activities reached CNY 34.91 billion, a 15.77% increase from CNY 30.15 billion in 2020[10]. - The total assets at the end of 2021 amounted to CNY 399.99 billion, representing a 2.07% increase from CNY 391.90 billion at the end of 2020[10]. - The net assets attributable to shareholders at the end of 2021 were CNY 100.91 billion, a 5.92% increase from CNY 95.27 billion at the end of 2020[10]. - The company achieved a consolidated operating revenue of approximately CNY 80.68 billion, a year-on-year increase of 14.30%[32]. - The net profit attributable to shareholders of the parent company was approximately CNY 9.73 billion, an increase of 1.78% year-on-year[32]. - The company reported a total revenue of RMB 100 billion for the fiscal year 2021, representing a year-on-year growth of 15%[139]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.84 CNY per 10 shares to all shareholders based on a total share capital of 50,498,611,100 shares as of the profit distribution record date[1]. - The cash dividend policy stipulates a minimum distribution of 30% of the net profit attributable to shareholders for the year, based on business performance and future development strategies[158]. - The company plans to implement a five-year shareholder dividend return plan from 2021 to 2025[144]. - The company has a clear cash dividend policy approved by the shareholders' meeting, ensuring transparency and stability in shareholder returns[158]. - The company plans to distribute a cash dividend of 0.84 CNY per share, totaling approximately 4.24 billion CNY, which represents 100% of the distributable profit[159]. Operational Efficiency and Management - The average utilization hours of nuclear power in 2021 were 7,802 hours, an increase of 352 hours year-on-year[17]. - The company's average utilization hours for power plants increased to 7,731 hours in 2021 from 7,309 hours in the previous year, reflecting improved operational efficiency[23]. - The company has maintained a high level of operational management, with 83.00% of its operational units' performance indicators in the top 25% globally[26]. - The company is committed to the integrated design, construction, and operation of nuclear projects, enhancing cost control and operational efficiency[27]. - The company achieved a reduction in standard coal consumption by approximately 60.85 million tons and a decrease in CO2 emissions by about 167.36 million tons in 2021[25]. Nuclear Power Development - The company is committed to actively and safely developing nuclear power as part of the national strategy for carbon peak and carbon neutrality[18]. - As of December 31, 2021, the company managed 25 operational nuclear units and 7 under construction, with installed capacities of 28,261 MW and 8,299 MW, representing 53.01% and 41.01% of the national total for operational and under-construction nuclear capacity respectively[22]. - The total power generation of the company's managed nuclear plants in 2021 was 201.15 billion kWh, accounting for 52.65% of the national nuclear power generation[22]. - The company has developed the self-owned third-generation nuclear technology "Hualong One," which is being utilized in multiple ongoing projects[28]. - The company is advancing the development of small modular reactor technology to expand nuclear energy applications[74]. Environmental and Social Responsibility - The company is committed to clean energy development, focusing on nuclear power and comprehensive utilization of nuclear energy, while controlling radioactive emissions[95]. - The company achieved a radioactive liquid waste discharge rate of 0.24% in 2021, consistent with the previous year[46]. - The company maintained normal environmental monitoring results across all nuclear power stations in 2021[46]. - The company invested approximately RMB 3,044.12 million in rural revitalization and other donations during the reporting period[180]. - The company has been actively involved in poverty alleviation efforts, addressing issues such as electricity, water supply, and transportation for villagers[185]. Governance and Compliance - The company has established a governance structure that reflects the relationships and roles of key stakeholders, ensuring compliance with regulations[109]. - The company is committed to compliance with legal regulations and corporate governance standards[148]. - The board of directors has been diligent in reviewing proposals and making independent judgments on company matters[148]. - The company has established control measures based on risk assessment results, covering key business areas including funding activities, procurement, sales, project management, and financial reporting[165]. - The company emphasizes timely and accurate communication of internal control-related information to ensure effective transmission within and outside the company[165]. Future Outlook and Strategic Initiatives - The company has set a future outlook with a revenue target of 120 billion RMB for 2022, indicating a projected growth rate of 20%[127]. - The company plans to expand its market presence by entering three new international markets by the end of 2022[127]. - The company aims to enhance the competitiveness of its Hualong One nuclear technology, which is crucial for sustainable development[73]. - The company plans to continue optimizing maintenance schedules and improving operational efficiency through advanced technologies[43]. - The company aims to improve its market marketing capabilities and actively pursue nuclear power consumption policies to secure more grid electricity[107].

Dividend Policy - The company plans to distribute a cash dividend of 1.5 yuan (including tax) for every 10 shares based on a total share capital of 50,498,611,100 shares as of the profit distribution record date for 2020[2]. - The company reported a cash dividend of RMB 0.80 per 10 shares for the fiscal year 2020, totaling RMB 4,039,888,888.00[118]. - The cash dividend for 2019 was RMB 0.76 per 10 shares, amounting to RMB 3,837,894,443.60, which was 40.55% of the consolidated net profit[118]. - The cash dividend for 2018 was RMB 0.72 per 10 shares, totaling RMB 3,272,310,000.00, which accounted for 37.60% of the consolidated net profit[118]. - The total cash dividend for 2020 represented 100% of the total distributable profit[119]. - The company has maintained a consistent cash dividend policy over the past three years, with increasing amounts each year[117]. - The company aims to maintain a cash dividend policy of at least 30% of the net profit attributable to shareholders for future years, with a target of a minimum 5% increase in per-share dividends from 2018 to 2020[114]. - The company has not made any adjustments or changes to its cash dividend policy during the reporting period[119]. Financial Performance - The company's operating revenue for 2020 was ¥70.58 billion, an increase of 15.95% compared to ¥60.88 billion in 2019[11]. - The net profit attributable to shareholders for 2020 was ¥9.56 billion, a slight increase of 1.02% from ¥9.47 billion in 2019[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥9.41 billion, up 3.54% from ¥9.09 billion in 2019[11]. - The net cash flow from operating activities was ¥30.15 billion, a decrease of 1.45% compared to ¥30.60 billion in 2019[11]. - The total assets at the end of 2020 were ¥391.90 billion, reflecting a 1.01% increase from ¥387.98 billion at the end of 2019[11]. - The company's net assets attributable to shareholders increased by 6.09% to ¥95.27 billion from ¥89.80 billion in 2019[12]. - The company's total assets reached approximately CNY 391.90 billion, a 1.01% increase from 2019, while total liabilities were about CNY 250.27 billion, resulting in a debt-to-asset ratio of 63.86%[36]. - The company's operating revenue for 2020 was approximately CNY 70.59 billion, reflecting a 15.95% growth year-on-year[36]. - The net profit attributable to shareholders was approximately CNY 9.56 billion, a 1.02% increase from the previous year[36]. Operational Performance - The company managed 24 operational nuclear power units and 7 under construction, with a total installed capacity of 27,142 MW and 8,210 MW, respectively, representing 54.42% and 47.31% of the national total[17]. - The total electricity generated by the company's managed nuclear power stations in 2020 was 186.49 billion kWh, accounting for 54.41% of the national nuclear power generation[17]. - The average utilization hours for nuclear power in 2020 were 7,453 hours, an increase of 59 hours compared to 2019[33]. - The average capacity factor for the 24 operational units in 2020 was 92.03%, while the average load factor was 83.75%[46]. - The company achieved a significant reduction in standard coal consumption by approximately 56.9719 million tons and a reduction in carbon dioxide emissions by about 156.2764 million tons in 2020[20]. - The total electricity generated by the operational nuclear units in 2020 was 186.487 billion kWh, representing a 4.20% increase compared to 2019[42]. - The total electricity generation from subsidiaries was 155.838 billion kWh in 2020, up 5.15% from 148.206 billion kWh in 2019[43]. - The Taishan Nuclear Power Plant achieved a significant increase in electricity generation, reaching 21.573 billion kWh in 2020, a 33.35% increase from 16.178 billion kWh in 2019[43]. Safety and Compliance - The company maintained a good safety record, with no level 2 or above nuclear incidents reported in its operational management of nuclear power stations[40]. - The company’s radioactive waste management strictly adhered to national laws and regulations, with total radioactive emissions significantly below national limits[51]. - The company has not reported any radioactive material exceedances or environmental pollution incidents in 2020, adhering to national standards for waste management[177]. - The company’s environmental monitoring program met national and industry standards, ensuring effective monitoring of the surrounding environment of its nuclear power plants[176]. Research and Development - The company has developed the third-generation nuclear technology "Hualong One," with demonstration projects at Fangchenggang Units 3 and 4, which began construction in December 2015 and December 2016, respectively[26]. - The company is actively developing small reactor technology and participating in the research and development of fourth-generation reactor technologies to maintain competitiveness[26]. - The company has a well-established R&D system, including a national engineering technology center and five national-level R&D centers, enhancing its technological innovation capabilities[27]. - The number of R&D personnel increased by 2.09% to 4,831, with R&D investment amounting to ¥2,472,985,103.88, a 12.06% increase from 2019[80]. Market and Customer Relations - The market transaction electricity volume accounted for 42.2% of the total electricity consumption in 2020, an increase of 3 percentage points from 2019[33]. - The largest customer, China Southern Power Grid Company, accounted for sales of CNY 39.99 billion, representing 56.66% of total annual revenue[67]. - The second-largest customer, Fujian Electric Power Company, had sales of CNY 9.72 billion, making up 13.77% of total annual revenue[67]. - The total sales amount from the top five customers was CNY 69.96 billion, which constituted 99.12% of the annual sales[71]. Corporate Governance - The company appointed Mr. Yang Changli as the chairman of the board on May 20, 2020, following the addition of two non-executive directors[181]. - The second board and supervisory board's term ended on May 23, 2020, and the company completed the election of the new boards on August 5, 2020[183]. - The company has not experienced any changes in its controlling shareholder during the reporting period[194]. - The actual controller of the company is the State-owned Assets Supervision and Administration Commission, which has not changed during the reporting period[195]. Social Responsibility and Community Engagement - The company has actively participated in poverty alleviation efforts, achieving significant results despite challenges posed by the COVID-19 pandemic[159]. - The company invested a total of 4,037,000 CNY in poverty alleviation efforts, helping 2,308 registered impoverished individuals to escape poverty[169]. - The company has initiated a kiwifruit project in Leyue County, which is expected to benefit 63 impoverished villages and 11,168 impoverished households once operational[161]. - The company invested 300,000 CNY in the construction of a poverty alleviation museum in Fujian, which was officially opened on September 30, 2020[168].