TEC(600780)2024-04-24 08:07Financial Performance - The company's net profit attributable to shareholders for 2023 was RMB 679.78 million, a decrease of 20.47% compared to the previous year[19]. - The operating revenue for 2023 was RMB 10.89 billion, down 2.08% from RMB 11.12 billion in 2022[19]. - The basic earnings per share for 2023 was RMB 0.5929, down 20.47% from RMB 0.7455 in 2022[20]. - The company's weighted average return on equity decreased to 9.73% from 13.82% in the previous year, a decline of 4.09 percentage points[20]. - The net cash flow from operating activities decreased by 31.76% to RMB 904.01 million compared to RMB 1.32 billion in the previous year[21]. - The total non-recurring gains and losses for 2023 amounted to CNY 13.28 million, compared to CNY 17.60 million in 2022[26]. - The company's total revenue for 2023 was 10.887 billion RMB, a decrease of 2.08% compared to the previous year[44]. - The net profit attributable to the parent company was 680 million RMB, down 20.47% year-on-year, with basic earnings per share of 0.5929 RMB[44]. - The company's main business revenue decreased by 2.14% to 10.870 billion RMB, while the main business cost decreased by 0.23% to 9.802 billion RMB[46]. - The company's electricity revenue was CNY 10,721,849,240.76, with a gross margin decrease of 1.89 percentage points year-on-year[49]. Dividend and Profit Distribution - The cash dividend proposed is RMB 0.18 per share, with a total cash dividend distribution of RMB 206.37 million, representing a cash dividend payout ratio of 30.36%[4]. - The company plans to submit the profit distribution plan for shareholder approval[4]. - The cash dividend amount (including tax) is 206,370,454.14 RMB, accounting for 30.36% of the net profit attributable to ordinary shareholders[131]. - The company did not propose a cash profit distribution plan for the reporting period, despite having positive distributable profits[129]. Operational Highlights - The total electricity generation for the year reached 64.24 billion kWh, representing a year-on-year increase of 8.03%[30]. - The total market-oriented electricity trading volume was 58.43 billion kWh, up 8.28% year-on-year, achieving sustained profitability throughout the year[30]. - The company's electricity sales volume was 188.23 billion kWh, remaining stable compared to the previous year, with improved reliability in power supply[31]. - The total installed power generation capacity nationwide reached 2.92 billion kW by the end of 2023, an increase of 13.9% year-on-year[34]. - The total electricity consumption in society was 9.22 trillion kWh, with a year-on-year growth of 6.7%, an increase of 3.1 percentage points compared to 2022[34]. - The company reported a decrease in performance due to the impact of lower coal prices on its coal enterprise investments[21]. Clean Energy Initiatives - The company aims to enhance its clean energy strategy by integrating coal power with renewable energy sources, focusing on wind and solar projects[29]. - The company has invested in four wind and solar power generation projects, all of which have completed government filing[28]. - The company is focusing on the integration of coal power and new energy, aiming to optimize and upgrade existing power plants and grids[85]. - The company is committed to enhancing energy security and implementing a high-level safety management model to ensure stable grid operations[86]. - The company is actively promoting the use of renewable resources and aims for green development through investments in solar and wind energy projects[145]. Governance and Compliance - The company has maintained a governance structure that emphasizes clear responsibilities among the board, supervisory board, and management, ensuring compliance with relevant regulations[100]. - There were no incidents of fund misappropriation, illegal guarantees, insider information leaks, or unfair related transactions during the reporting period[100]. - The company has established a long-term mechanism for standardized governance to enhance self-regulation and improvement[100]. - The company continues to enhance its governance model in line with the new company law and independent director regulations[100]. - The company has not reported any major differences in governance compared to regulatory requirements[100]. Environmental and Social Responsibility - The company invested CNY 1,950.45 million in environmental protection during the reporting period[136]. - The company achieved an average emission concentration of 1.92 mg/m³ for smoke, 20.29 mg/m³ for sulfur dioxide, and 35.46 mg/m³ for nitrogen oxides in 2023, all within regulatory limits[137]. - The company completed modifications to pollution control facilities, including denitrification catalyst upgrades and desulfurization system enhancements[138]. - The company reduced carbon emissions by 46,800 tons through various measures, including optimizing coal procurement and improving boiler combustion efficiency[146]. - Total investment in poverty alleviation and rural revitalization projects amounted to CNY 2.4168 million, with CNY 1.9992 million allocated for funding and CNY 0.4176 million for material donations[147]. - The number of beneficiaries reached 7,106 individuals, primarily through industrial poverty alleviation and educational support[147]. Future Outlook - The company plans to achieve a power generation of 6.144 billion kWh and electricity sales of 19.2 billion kWh in 2024[86]. - The projected operating revenue for 2024 is 11.315 billion RMB, with operating costs expected to be controlled at 10.472 billion RMB[86]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[110]. - New product launches are expected to contribute an additional 1 billion yuan in revenue, with a focus on clean energy solutions[110]. - The company aims to enhance its digital transformation initiatives, with a budget allocation of 500 million yuan for the upcoming year[110].