LK(600388)2025-03-21 12:05Financial Performance - The company's operating revenue for 2024 was CNY 10,019,424,016.14, a decrease of 8.69% compared to CNY 10,972,517,224.65 in 2023[27]. - Net profit attributable to shareholders for 2024 increased by 63.15% to CNY 830,404,250.86 from CNY 508,972,383.37 in 2023[27]. - The net profit after deducting non-recurring gains and losses rose by 119.25% to CNY 761,481,652.60 in 2024[27]. - The net cash flow from operating activities for 2024 was CNY 2,176,752,907.17, an increase of 27.58% from CNY 1,706,139,021.68 in 2023[27]. - The company's total assets at the end of 2024 were CNY 26,792,319,059.54, a 5.91% increase from CNY 25,297,488,964.28 at the end of 2023[27]. - The net assets attributable to shareholders increased by 31.33% to CNY 10,173,175,507.22 at the end of 2024[27]. - Basic earnings per share for 2024 were CNY 0.77, up 63.83% from CNY 0.47 in 2023[28]. - The weighted average return on net assets increased by 3.39 percentage points to 10.13% in 2024[28]. - The company reported a significant increase in cash flow from operating activities, totaling RMB 2.37 billion for the year, indicating a strong liquidity position[30]. - The company achieved a net profit of 830 million RMB, representing a year-on-year increase of 63.15%[67]. - Operating revenue for the period was 10.02 billion RMB, with a year-on-year decrease of 8.69%[68]. - The net cash flow from operating activities was 2.18 billion RMB, reflecting a growth of 27.58% compared to the previous year[70]. - The total assets of the company reached 26.79 billion RMB, with total equity attributable to shareholders increasing by 31.33% to 10.17 billion RMB[67]. - The company’s gross profit margin stood at 24.84%, indicating a steady improvement in asset quality[67]. Business Operations and Projects - The environmental protection business secured over 40 large-scale projects, including 1000MW and 600MW coal-fired power units, further solidifying the company's market position[39]. - The clean energy sector saw the completion of key projects, including a 200MW photovoltaic and 504MWh energy storage project, marking a significant milestone in the company's renewable energy initiatives[40]. - The company successfully delivered its first batch of new energy mining vehicles and established the largest fully automated battery swap station in China, showcasing innovation in the mining sector[40]. - The company has made substantial progress in AI technology integration, enhancing energy-saving effects through AI-controlled power supply systems[41]. - A new 500Nm³/h alkaline water electrolysis hydrogen production system was developed, achieving domestic advanced performance levels[42]. - The company expanded its international presence by winning projects in Thailand, Vietnam, South Africa, and Brazil, enhancing its global brand recognition[39]. - The company is the world's largest manufacturer of industrial flue gas environmental protection equipment, leading in technology and application fields[50]. - The company has established over 1GW of clean energy capacity, including projects in Tibet and Xinjiang, with ongoing developments in Serbia and Guyana[52]. - The company is focusing on the energy-saving and emission-reduction market, with a projected 25% increase in investment scale by 2027 in key energy sectors[46]. - The company is actively developing new technologies in environmental protection and renewable energy, with significant investments in R&D and international collaborations[57]. - The company is expanding its market presence in the wind, solar, and energy storage sectors, despite facing price competition and market saturation[48]. Governance and Compliance - The company is committed to enhancing its internal control management and ensuring compliance with legal and regulatory requirements to protect shareholder interests[112]. - The company maintains independence from its controlling shareholder, Zijin Mining, with no senior management receiving salaries or holding positions in Zijin Mining or its subsidiaries[115]. - The company has established an independent financial department and decision-making system, ensuring operational autonomy[115]. - The board of directors operates in accordance with established rules, enhancing decision-making efficiency and quality[113]. - The company emphasizes investor relations management, ensuring timely and accurate information disclosure[113]. - The board of directors and supervisory board strictly adhere to governance rules, safeguarding the interests of shareholders[113]. - The company has a robust internal control system in place, as per the basic norms for internal control[114]. - The company has a clear governance structure with specialized committees to support board decisions[113]. - The company has not reported any significant differences in governance compared to regulatory requirements[114]. - The company has established effective communication channels with stakeholders, promoting sustainable development[113]. Employee Engagement and Development - The company launched a new employee stock ownership plan and a three-year stock option incentive plan to enhance organizational vitality and attract talent[43]. - The company has established a training program focusing on both vertical and horizontal training structures to enhance employee skills and career growth[145]. - The total number of employees across the parent company and major subsidiaries is 6,991, with 2,260 in the parent company and 4,731 in subsidiaries[142]. - The company has a total of 1,262 technology personnel, indicating a strong focus on technical expertise within its workforce[142]. - The company approved the employee stock ownership plan and stock option incentive plan for 2024, aimed at enhancing employee engagement and retention[140]. - The company’s management team plans to subscribe to 1.04 million shares in the employee stock ownership plan, representing 13.85% of the total[161]. Environmental Compliance and Monitoring - The company has established emergency response plans for environmental incidents, with the latest updates completed in 2024[188]. - The company has completed the environmental impact assessment for the hazardous waste treatment project in Jiangsu Province, approved in August 2019[186]. - The company has a valid pollutant discharge permit until December 10, 2028, following the recent changes in legal representation[184]. - The company has implemented a combination of advanced treatment technologies for waste gas, including SNCR, dry desulfurization, and activated carbon adsorption[184]. - The company has successfully completed the construction and operation of multiple waste gas treatment facilities, ensuring compliance with national emission standards[184]. - The company is actively expanding its environmental protection projects, with several ongoing assessments and approvals for new facilities[182]. - The company has established a comprehensive environmental monitoring strategy, ensuring compliance with regulatory standards across multiple parameters[191]. - The company is committed to maintaining rigorous environmental monitoring practices to meet regulatory standards and protect public health[196]. - The company is actively enhancing its monitoring capabilities to address emerging environmental challenges and improve operational transparency[196]. Strategic Initiatives and Future Outlook - The company aims to enhance supply chain management efficiency through reforms and centralized procurement, reducing financial risks[44]. - The company is focused on upgrading equipment in the steel industry to achieve ultra-low emissions and energy efficiency improvements by 2027[88]. - The company is adapting to new regulations in the renewable energy sector, particularly in distributed photovoltaic projects, to ensure compliance and market participation[89]. - The company has identified significant growth potential in the clean energy market, particularly in the context of the "dual carbon" strategy promoted by its controlling shareholder, Zijin Mining[104]. - The company anticipates a 30% overall growth in the energy storage market by 2025, driven by increasing demand and technological advancements[106]. - The company recognizes risks associated with international market expansion, including legal, currency, and cultural challenges, and is developing strategies to mitigate these risks[108]. - The company emphasizes the importance of executing its strategic theme "Good at Doing and Achieving" to enhance operational effectiveness and achieve measurable results[104].