Financial Performance - In 2020, CGN Power achieved operating revenue of RMB 70,584.71 million, an increase from RMB 60,875.18 million in 2019, representing a growth of approximately 11.2%[17] - The net profit attributable to shareholders of the parent company was RMB 9,562.31 million, reflecting a growth of 1.02% compared to RMB 9,465.70 million in 2019[16] - The EBITDA for 2020 was RMB 35,874.84 million, which is a 4.28% increase from RMB 34,469.84 million in 2019[16] - CGN Power's total profit for 2020 was RMB 16,850.12 million, slightly up from RMB 16,555.10 million in 2019[17] - The company's total revenue for 2020 was approximately RMB 70.585 billion, an increase of 16.0% compared to 2019[30] - Net profit attributable to shareholders was approximately RMB 9.562 billion, up 1.0% from 2019[30] - The proposed dividend for the year is RMB 0.080 per share (tax included), representing a 5.3% increase from 2019[30] - The EBITDA margin for 2020 was 51.1%, down from 57.2% in 2019[53] - The net profit margin for 2020 was 21.1%, compared to 24.3% in 2019[53] - The total assets return rate for 2020 was 6.4%, a slight decrease from 6.5% in 2019[53] - The company experienced a 25.2% increase in operating costs, totaling RMB 44,419.29 million in 2020[54] Assets and Liabilities - CGN Power's total assets as of December 31, 2020, were RMB 36,055.29 million, reflecting the company's strong financial position[14] - Total current assets for 2020 amounted to approximately $63.24 billion, an increase from $61.92 billion in 2019[18] - Total non-current assets reached approximately $328.65 billion, slightly up from $326.05 billion in 2019[18] - Total liabilities decreased to approximately $250.27 billion in 2020 from $252.68 billion in 2019[18] - Total equity attributable to shareholders increased to approximately $95.27 billion, compared to $89.80 billion in 2019, reflecting a growth of about 6.5%[18] - The company maintained a debt-to-asset ratio of 63.9% in 2020, slightly improved from 65.1% in 2019[53] Operational Performance - As of December 31, 2020, the installed capacity of operational nuclear units was 27,142 MW, accounting for 54.42% of the total in mainland China[16] - The company managed 24 operational nuclear power units, achieving a safety and stability operation rate with 72.6% of performance indicators ranking in the top 25% globally and 69.8% in the top 10%[36] - The total electricity generated by the company in 2020 was 186,487.40 GWh, representing a 4.2% increase compared to 2019, with market-based electricity accounting for approximately 33.5%[36] - The average capacity factor of the company's operational nuclear power units exceeded 92% in 2020, maintaining advanced global standards for three consecutive years[36] - The average load factor for the 24 operating units in 2020 was 83.75%, compared to 86.15% in 2019[90] - The average utilization hours for nuclear power in 2020 increased by 59 hours to 7,453 hours compared to 2019[78] Construction and Development - The company has 7 nuclear units under construction with a total capacity of 8,210 MW, representing 47.31% of the total under construction in mainland China[16] - In 2020, CGN Power successfully commenced construction of the Huizhou Unit 2 on October 15 and the Cangnan Unit 1 on December 31[10] - In 2020, two new nuclear power projects were approved, including the Cangnan Nuclear Power Project, with the first unit starting construction by the end of 2020[31] - The company plans to continue investing in the construction of nuclear power stations and technology upgrades to maintain and improve operational performance in 2021[72] Safety and Environmental Management - The company maintained a good safety record with no Level 2 or above nuclear incidents in 2020 according to the INES classification[84] - The company achieved zero serious injuries and fatalities in nuclear engineering construction for seven consecutive years[36] - The company's radioactive waste management strictly adhered to national laws and regulations, with emissions well below applicable national limits[97] - The company reduced carbon dioxide emissions by approximately 15,627.64 million tons and sulfur dioxide emissions by about 34,900 tons in 2020[99] Research and Development - The company emphasizes the importance of innovation and plans to enhance research and development capabilities in new nuclear technologies[32] - The company applied for a total of 1,207 patents in 2020, with 789 patents granted, supporting its innovation development[38] - The company has established a self-developed R&D platform with over 4,800 R&D personnel by the end of 2020, including a national engineering technology center and five national R&D centers[136] - From 2014 to 2020, the company filed a total of 3,462 patent applications, with 1,533 patents granted, reflecting a strong focus on intellectual property[142] Human Resources and Employee Development - As of the end of 2020, the total number of employees was 18,264, with a slight decrease from 18,383 in 2019[144] - In 2020, the company recruited a total of 443 new employees, including 387 graduates through campus recruitment, addressing the need for skilled personnel in the nuclear power sector[146] - The company emphasizes the importance of human capital, continuously improving its human resource development and management systems[143] - The company has established a competitive compensation management system, with performance bonuses linked to employee performance[163] Corporate Governance and Strategy - The company completed the election of a new board of directors and supervisory board on August 5, 2020, with Yang Changli elected as chairman[10] - The company maintains a strategy focused on safety, quality, and excellence while expanding its international nuclear power market presence[28] - The company aims to control costs and enhance profitability as part of its operational strategy[28] - The company is committed to creating optimal benefits for customers, shareholders, employees, and society through continuous investment in various capital forms[25]
中广核电力(01816) - 2020 - 年度财报