Financial Performance - For the first half of 2021, the company's operating revenue reached RMB 36,865.67 million, representing a 17.01% increase compared to the same period in 2020[4] - The net profit attributable to shareholders of the parent company was RMB 5,498.14 million, which is a 5.63% increase year-on-year[4] - Operating revenue for the first half of 2021 reached RMB 36,865.67 million, a 17.0% increase from RMB 31,506.67 million in the same period of 2020[16] - Main business income increased by 16.9% to RMB 36,780.39 million, driven by a 3.1% rise in electricity sales revenue to RMB 27,972.02 million[17] - EBITDA margin decreased to 51.2% in H1 2021 from 59.0% in H1 2020[15] - Net profit margin for H1 2021 was 23.5%, down from 25.0% in H1 2020[15] - Return on equity (excluding minority interests) was 5.7% as of June 30, 2021, slightly down from 5.8% at the end of 2020[15] - Investment income rose by 53.6% to RMB 648.52 million, primarily due to increased returns from joint ventures[16] - The company reported a total profit of RMB 9.86 billion, representing a 10.1% increase from RMB 8.95 billion in the first half of 2020[107] - Basic and diluted earnings per share for the first half of 2021 were both RMB 0.109, compared to RMB 0.103 in the same period of 2020[108] Assets and Liabilities - As of June 30, 2021, total assets amounted to RMB 398,384.81 million, an increase from RMB 391,898.37 million at the end of 2020[9] - The total liabilities were RMB 254,837.34 million, compared to RMB 250,267.77 million at the end of 2020[9] - The total current assets as of June 30, 2021, were RMB 69,036.72 million, up from RMB 63,244.27 million at the end of 2020[9] - The company reported a significant increase in contract liabilities, which rose to CNY 5.74 billion from CNY 3.23 billion, a growth of 77.5%[103] - The company's total equity decreased to CNY 100.75 billion from CNY 103.40 billion, a decline of 2.5%[106] Cash Flow - The net cash inflow from operating activities rose to RMB 15,735,475.88 thousand, a 4.9% increase compared to RMB 15,006,857.09 thousand in the previous year[21] - Cash and cash equivalents increased significantly to CNY 10.27 billion from CNY 6.70 billion, representing a growth of 53.5%[105] - Cash inflow from financing activities totaled RMB 29,772,926,197.91, compared to RMB 28,495,285,064.62 in the previous year, representing an increase of about 4.49%[111] Operational Performance - The total electricity generated was 79,072.49 GWh, with a reduction of approximately 7,922.84 million tons of CO2 emissions equivalent[7] - The company operated 24 nuclear power units, achieving a total electricity generation of 95,226.50 GWh in the first half of 2021, representing a 5.40% increase compared to 90,348.68 GWh in the same period of 2020[40] - The electricity generation from Ningde Nuclear Power Station increased by 15.15% to 15,898.38 GWh, up from 13,806.93 GWh year-on-year[40] - The company maintained a good safety record, with no Level 2 or above nuclear incidents reported according to the International Nuclear Event Scale (INES) during the first half of 2021[39] - The company operated 24 nuclear units with an average capacity factor of 89.57% in the first half of 2021, compared to 93.13% in the same period of 2020[44] Shareholder Information - The company declared a final dividend of RMB 0.080 per share for the year ended December 31, 2020, totaling RMB 4,044.28 million[11] - The company aims to maintain a moderate annual increase in the dividend payout ratio over the next five years, from 2021 to 2025[12] - The company has 303,767 registered shareholders as of June 30, 2021, with a significant number of indirect shareholders through various intermediaries[10] Governance and Compliance - The company has complied with all corporate governance codes and best practices as per the Hong Kong Stock Exchange during the reporting period[75] - The company appointed new non-executive and independent directors in May 2021, enhancing its governance structure[77] - The company has not faced any administrative penalties or criticisms from regulatory bodies during the reporting period[75] Environmental Impact - The company achieved a total output equivalent to a reduction of approximately 28.70 million tons of standard coal consumption and a reduction of CO2 emissions by about 79.22 million tons in the first half of 2021[49] - The company’s nuclear power generation contributed to significant reductions in sulfur dioxide and nitrogen oxide emissions, with reductions of approximately 15,200 tons and 17,000 tons respectively in the first half of 2021[49] - The company strictly adhered to national standards for radioactive waste management, with liquid waste emissions at 0.12% and gas waste emissions at 0.23% in the first half of 2021[48] Future Plans - The company plans to invest in the construction of nuclear power plants, technological upgrades for operational performance, and R&D innovation in the second half of 2021[34] - The company plans to achieve a total installed capacity of over 70,000 MW by 2035, aiming to be the global leader in nuclear power generation[72] - The company aims to ensure the safe and stable operation of all units, with plans for two refueling outages in Q3 and three in Q4 of 2021[73]
中广核电力(01816) - 2021 - 中期财报