TBEA(600089)2024-04-08 16:00Financial Performance - The net profit for the year 2023 reached CNY 5,133,197,127.34, with a proposed cash dividend of CNY 2.0 per 10 shares, totaling approximately CNY 1,146,769,203.05, which accounts for 10.71% of the net profit attributable to shareholders [2]. - The company plans to allocate 10% of the net profit to statutory reserves, amounting to CNY 513,319,712.73, with the remaining profit available for distribution to shareholders being CNY 6,662,682,908.77 [2]. - The company's operating revenue for 2023 was CNY 9,812,348.37 million, representing a 1.79% increase compared to 2022 [15]. - The net profit attributable to shareholders for 2023 was CNY 1,070,271.07 million, a decrease of 32.75% from the previous year [15]. - The net cash flow from operating activities increased by 18.41% to CNY 2,581,207.63 million in 2023 [15]. - The total assets of the company reached CNY 19,189,831.62 million, reflecting a 12.21% growth year-on-year [15]. - The basic earnings per share for 2023 was CNY 2.3888, down 42.11% from 2022 [16]. - The weighted average return on equity decreased by 14.79 percentage points to 18.41% in 2023 [16]. - The total comprehensive income decreased by 39.91% compared to the previous year, reflecting the overall decline in profitability [58]. Shareholder Returns - The total number of shares after buybacks is 5,020,166,186, with a total share capital of 5,052,710,023 shares before buybacks [184]. - The company will not distribute stock dividends or increase capital reserves in 2023, maintaining a focus on cash dividends [184]. - The cash dividend plan is subject to approval at the 2023 annual general meeting of shareholders [184]. - The cash dividends proposed for 2023 will include an additional amount of ¥142,735,965.85 from share buybacks, bringing the total expected cash distribution to ¥1,146,769,203.05 [187]. - The company emphasizes a stable return to shareholders, adhering to a consistent and sustainable dividend policy based on current profitability and funding needs [185]. Risk Management - The company has not reported any non-operating fund occupation by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees [3]. - There are no significant risks reported that could affect the company's future performance [3]. - The company has strengthened its risk control and compliance systems, conducting compliance training for nearly 10,000 personnel throughout the year [33]. - The company faces macroeconomic and industry risks that could impact profitability, and it will strengthen its analysis of relevant policies to mitigate these risks [133]. - Increased market competition, both domestically and internationally, poses a risk, prompting the company to enhance its market competitiveness through cost reduction and quality improvement [135]. Operational Highlights - The company achieved a domestic market contract signing of 40.45 billion RMB in the power transmission and transformation industry in 2023 [25]. - The company produced 191,300 tons of polysilicon and sold 202,900 tons in 2023, with a confirmed revenue from wind and solar projects of approximately 2.19 GW [25]. - The company’s total sales of coal exceeded 74 million tons in 2023, with stable operation of thermal power units generating a total of 17.472 billion kWh [25]. - The company’s digital transformation projects, including digital factories and smart power plants, have been progressively implemented, enhancing operational efficiency [30]. - The company’s energy business includes coal mining and sales, as well as electricity and heat production and supply [45]. Research and Development - The company added 388 authorized patents in 2023, including 111 invention patents, bringing the total to 2,427 effective authorized patents [47]. - The total R&D investment for the period was 481,372.97 million RMB, accounting for 4.91% of operating revenue [73]. - The company is committed to innovation, with a national-level enterprise technology center and various research platforms [46]. - The company has established a complete R&D, procurement, production, sales, and after-sales service system across its main business sectors [45]. Environmental and Compliance - The company invested approximately 104,607.27 million CNY in environmental protection during the reporting period [196]. - The company has implemented pollution prevention facilities that comply with national and local environmental regulations [200]. - The company’s subsidiaries have completed ultra-low emission environmental acceptance and evaluations, meeting relevant environmental standards [197]. - The company continues to focus on pollution control in its coal mining, power generation, and polysilicon production processes [200]. Future Outlook - The company plans to achieve a revenue of 100 billion yuan in 2024, with operating costs controlled within 80 billion yuan [124]. - The company provided a positive outlook for 2024, projecting a revenue growth of 12% to 15% based on current market trends and demand [161]. - The company aims to enhance its market competitiveness by integrating manufacturing and service capabilities, focusing on high-quality order acquisition and system integration [125]. - The company will actively expand both domestic and international markets, leveraging its design and manufacturing strengths to provide integrated solutions [126].