Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 2,752,054,000, representing an increase of 6.3% from RMB 2,588,646,000 in 2023[4] - Gross profit for the same period was RMB 1,515,848,000, up 7.8% from RMB 1,405,626,000 in 2023[4] - Net profit attributable to shareholders from continuing operations was RMB 805,133,000, a decrease of 8.2% compared to RMB 877,502,000 in 2023[4] - Basic earnings per share for the year was RMB 10.06, down from RMB 11.42 in 2023, reflecting a decline of 11.9%[4] - The company’s total comprehensive income for the year was RMB 852,914,000, down from RMB 985,221,000 in 2023, a decrease of 13.4%[5] - The company reported a financial cost of RMB 683,945,000 for the year ending December 31, 2024[26] - The profit before tax for the year ending December 31, 2024, was RMB 866,772,000, leading to a net profit of RMB 875,575,000 after tax credits[22] - The company reported a net loss of RMB 1,839,000 from the sale of property, plant, and equipment in 2024, compared to a gain of RMB 2,536,000 in 2023[37] Assets and Liabilities - Total assets increased to RMB 32,129,839,000 in 2024, compared to RMB 31,236,368,000 in 2023, marking a growth of 2.9%[7] - Non-current liabilities decreased to RMB 15,283,280,000 in 2024 from RMB 15,922,369,000 in 2023, a reduction of 4.0%[7] - Cash and cash equivalents decreased to RMB 1,693,834,000 in 2024 from RMB 2,445,465,000 in 2023, a decline of 30.7%[7] - Current liabilities decreased from RMB 6,878,585 thousand in 2023 to RMB 7,940,253 thousand in 2024, representing an increase of approximately 15.4%[9] - Total liabilities increased from RMB 22,800,954 thousand in 2023 to RMB 23,223,533 thousand in 2024, reflecting a growth of about 1.8%[9] - Net asset value rose from RMB 8,435,414 thousand in 2023 to RMB 8,906,306 thousand in 2024, indicating an increase of approximately 5.6%[9] - The company's equity attributable to shareholders increased from RMB 8,283,036 thousand in 2023 to RMB 8,714,950 thousand in 2024, a growth of about 5.2%[9] - The company’s other borrowings increased from RMB 895,844 thousand in 2023 to RMB 1,167,151 thousand in 2024, marking an increase of about 30.3%[9] - The company’s contract liabilities decreased from RMB 52,496 thousand in 2023 to RMB 25,029 thousand in 2024, a reduction of approximately 52.4%[9] Revenue Sources - Revenue from continuing operations for 2024 reached RMB 2,752,054,000, an increase of 6.3% compared to RMB 2,588,646,000 in 2023[36] - Revenue from electricity sales increased to RMB 2,158,040,000 in 2024, up 15.5% from RMB 1,867,969,000 in 2023[36] - Major customers contributed significantly, with Customer A generating RMB 389,489,000 and Customer B RMB 354,033,000 in 2024, both exceeding 10% of total revenue[33] - Total revenue for the group's power plants reached RMB 2,515,951,000, an increase of 11.35% from RMB 2,259,413,000 in 2023, while net profit rose by 4.69% to RMB 797,814,000[80] Operational Highlights - The company sold part of its smart operation and maintenance business for RMB 126,090,000 in November 2023, focusing on its core competencies in wind and solar power generation[18] - The company plans to sell three subsidiaries in the power generation sector for a total consideration of RMB 1,207,348,000, with expected completion in 2025[51] - The group completed green electricity transactions of 811 million kWh and sold 6.41 million green certificates, both showing year-on-year growth[81] - The group has sold off 50 MW of power plant capacity as part of its asset optimization strategy[90] Market and Industry Trends - Global renewable energy investment reached USD 728 billion in 2024, marking an 8% year-on-year increase, highlighting the sector's resilience and growth potential[60] - The average cost of battery energy storage systems decreased significantly by 40% in 2024, driving explosive growth in new energy storage projects[65] - The global market share of TOPCon technology in photovoltaic components rose to 60% in 2024, solidifying its position as the mainstream technology[64] - The number of countries with new gigawatt-scale photovoltaic component demand increased from 31 in 2023 to 37 in 2024[64] Corporate Governance and Management - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, ensuring compliance with corporate governance standards[116] - The company has adhered to the corporate governance code as outlined in the listing rules for the year ending December 31, 2024[113] - The company expresses gratitude to employees, shareholders, customers, and business partners for their ongoing support[117] - The company emphasizes the importance of corporate culture to enhance employee cohesion and alignment with business development strategies[108] Future Outlook and Strategy - The group aims to significantly increase new installed capacity by 2025, focusing on project construction management and cost control[103] - The group plans to enhance its power trading and marketing capabilities to improve profitability[101] - The group is committed to reducing financing costs by leveraging favorable market conditions and expanding financing channels[105] - The company plans to actively track and analyze market changes, optimizing assets to match strategic goals and market demands[106]
协合新能源(00182) - 2024 - 年度业绩