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中国电力(02380) - 2023 - 年度财报
02380CHINA POWER(02380)2024-04-26 10:35

Financial Performance - The company's revenue for 2023 was RMB 44,261,767 thousand, representing a growth of 1.31% from RMB 43,689,129 thousand in 2022[10]. - Net profit attributable to equity holders for 2023 was RMB 3,084,469 thousand, an increase from RMB 2,648,051 thousand in 2022[4]. - Operating profit for 2023 was RMB 8,715,187 thousand, up 14.61% from RMB 7,604,262 thousand in 2022[10]. - The total operating costs for the group were RMB 38,544,960,000, a decrease of 2.04% from RMB 39,347,562,000 in the previous year[134]. - The company reported a significant increase in revenue, achieving a total of 1.5billion,representinga151.5 billion, representing a 15% year-over-year growth[66]. - The company reported a net profit margin of 12%, which is an improvement from 10% in the previous year[66]. - The net profit attributable to equity holders of the group for the year ended December 31, 2023, was RMB 3,084,469,000, compared to RMB 2,648,051,000 in 2022, marking an increase of approximately 16.4%[78]. Asset and Capacity Growth - The company's total assets increased by 44.65% to RMB 305,806,779 thousand in 2023 from RMB 211,404,964 thousand in 2022[10]. - The installed capacity of the company reached 45,018.8 MW in 2023, a 42.47% increase from 31,599.2 MW in 2022[9]. - The total installed capacity of the group's clean energy plants is 317.0 MW, with specific contributions from regions such as Hainan (125.0 MW) and Heilongjiang (80.0 MW)[24]. - The total installed capacity of the company's coal-fired power plants is 11,080.0 MW, with major contributions from Anhui (5,860.0 MW) and Shanxi (2,000.0 MW)[24]. - By the end of 2023, the company's consolidated installed capacity reached 45,018.8 MW, with the clean energy installed capacity ratio reaching 75.39%, exceeding the strategic target by 5 percentage points[50]. Debt and Financial Structure - The total debt of the company rose by 44.69% to RMB 168,714,840 thousand in 2023 from RMB 116,606,464 thousand in 2022[9]. - The company's debt-to-equity ratio, calculated as net debt divided by total capital, was approximately 63% as of December 31, 2023, compared to 62% in the previous year[154]. - The net cash inflow from operating activities for the year was RMB 9,903,018,000, significantly up from RMB 5,725,614,000 in the previous year[152]. - The company secured approximately RMB 11.268 billion through perpetual debt instruments from its ultimate controlling shareholder, enhancing its cash flow and financial structure[160]. Clean Energy Initiatives - The group has expanded its business to include hydropower, wind power, photovoltaic power, natural gas power, environmental protection power, energy storage, green transportation, and integrated energy services[13]. - The company aims to be a world-class green and low-carbon energy supplier, focusing on low-carbon empowerment for a better life[13]. - The company is currently constructing clean energy projects with a total capacity of 6,975.7 MW, including 5,615.9 MW from photovoltaic power and 1,329.8 MW from wind power[27]. - The company has been recognized as a benchmark enterprise in the "Double Hundred Enterprises" by the State-owned Assets Supervision and Administration Commission[36]. - The company launched its first overseas photovoltaic energy storage project in Mexico, marking a significant step in internationalizing its energy storage business[35]. Technological Innovation - The company launched six technological innovations at the Energy Security Technology Innovation Forum, including a "Digital Twin Energy Storage Control Platform" and "AI-Powered Energy Intelligent Operation and Maintenance" solutions[41]. - The CTB battery system developed by the company's subsidiary has received approval for commercial use, showcasing advancements in battery management and efficiency[38]. - The company has successfully launched a smart energy storage platform with a capacity of 100 MW, marking a significant achievement in energy storage technology[85]. Sustainability and ESG Commitment - The company is committed to sustainable development and innovation in the energy sector[13]. - The company has been recognized as a leader in ESG development and was listed among the "Top 100 ESG Listed Companies in China," reflecting its commitment to sustainable practices[181]. - The establishment of a "Strategic and Sustainable Development Committee" in the board aims to improve ESG governance and operational efficiency[53]. - The company aims for "zero fatalities, zero accidents" in its safety production goals and has implemented various action measures to enhance safety management in emerging energy industries[173]. Market Expansion and Strategic Acquisitions - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million allocated for potential mergers and acquisitions[66]. - China Power acquired clean energy assets from State Power Investment Corporation for a total cash consideration of approximately RMB 10.7 billion, involving a total installed capacity of about 9,300 MW, significantly increasing the company's clean energy capacity ratio[40]. - The company is actively expanding its energy storage projects, with operations in 33 cities in China and international markets including Mexico and Chile[128]. Operational Efficiency and Cost Management - The average on-grid electricity price for coal power in 2023 was RMB 396.80 per MWh, a decrease of RMB 11.27 per MWh compared to the previous year, primarily due to structural impacts from coal power disposal[120]. - The average unit fuel cost for coal power operations was RMB 285.51 per MWh, down 12.46% from RMB 326.16 per MWh in the previous year[136]. - The group’s financial expenses were RMB 4,273,867,000, an increase of RMB 12,906,000 or 0.30% from the previous year[142]. Employee and Talent Management - As of December 31, 2023, the company employed a total of 14,254 full-time employees, an increase from 10,829 in 2022, reflecting a focus on attracting and retaining core talent to support strategic transformation and long-term development[177]. - The company emphasizes the importance of market-oriented talent recruitment and management to support green development and innovation[53].