华润电力(00836) - 2020 - 中期财报

Operational Capacity and Generation - As of June 30, 2020, CR Power operated 36 coal-fired power plants, 104 wind farms, 23 photovoltaic power plants, 2 hydro-electric plants, and 3 gas-fired power plants, with a total controlled generation capacity of 50,022 MW[4]. - The total attributable operational generation capacity was 41,630 MW, with 29.7% located in Eastern China, 27.9% in Central China, 17.3% in Southern China, 15.0% in Northern China, 4.7% in Northeastern China, 3.5% in Southwestern China, and 2.0% in Northwestern China[4]. - The combined attributable operational generation capacity of wind, hydro-electric, and photovoltaic power was 10,148 MW, accounting for approximately 24.4% of the total attributable operational generation capacity[4]. - The attributable operational generation capacity increased to 41,630 MW, up from 38,005 MW in the same period of 2019[20]. - The Company had a total controlled generation capacity of 50,022 MW as of June 30, 2020[21]. - The total installed capacity across various power plants is 20,000.0 MW, with an effective equity interest of 100% in several projects[22]. - Jiangsu province has a total attributable installed capacity of 6,000.0 MW, with significant contributions from Changshu and Nanjing Thermal plants[22]. - Henan province's total attributable installed capacity is 4,000.0 MW, with notable projects including Dengfeng and Jiaozuo Longyuan[22]. - Guangdong province has a total attributable installed capacity of 5,000.0 MW, with major contributions from Haifeng and Liyujiang projects[22]. - Hubei province's total attributable installed capacity is 2,600.0 MW, including the Hubei Phase II project with 2,000.0 MW[22]. - The company maintains a 100% effective equity interest in multiple photovoltaic projects across various provinces, contributing to renewable energy capacity[22]. - The company is expanding its wind energy portfolio, with several projects in Henan and Guangdong provinces showing strong capacity figures[22]. - The effective equity interest in Nantong Wind and Yancheng Wind projects is 100%, contributing 65.5 MW and 44.0 MW respectively[22]. - The effective equity interest in the wind power plants in Liaoning province is 100%, contributing a total of 1,200 MW installed capacity[23]. - The company operates power plants across multiple provinces, including Hebei, Shandong, and Guangxi, with significant contributions from wind and photovoltaic energy sources[23]. Financial Performance - For the six months ended June 30, 2020, the turnover was HK$31,184,879, a decrease of 5.3% from HK$32,916,036 in the same period of 2019[16]. - Profit attributable to owners of the Company for the same period was HK$4,528,857, representing an increase of 12.7% compared to HK$4,017,785 in 2019[16]. - Basic earnings per share increased to 94.15 HK cents, up from 83.52 HK cents in the first half of 2019, marking an increase of 12.8%[16]. - Total gross generation volume for operating power plants was 93,295,071 MWh, while total net generation was 88,043,101 MWh[16]. - As of June 30, 2020, total assets amounted to HK$224,218,411, an increase from HK$215,409,912 in 2019[16]. - The equity attributable to owners of the Company was HK$73,458,001, slightly up from HK$72,964,850 in 2019[16]. - The net debt to shareholders' equity ratio was 136.1%, an increase from 130.0% in the previous year[16]. - EBITDA interest coverage improved to 6.45 times, compared to 5.21 times in the first half of 2019[16]. - Operating profit increased to HK$7,345,716, compared to HK$6,780,204 in 2019, reflecting a growth of about 8.3%[79]. - Total comprehensive income for the period was HK$2,380,143, down from HK$3,767,334 in 2019, a decrease of approximately 36.8%[82]. - Non-current assets increased to HK$189,881,287 as of June 30, 2020, from HK$186,166,238 at the end of 2019, reflecting a growth of about 1.5%[85]. - Current assets totaled HK$34,337,124, an increase from HK$29,569,488 at the end of 2019, representing a growth of approximately 16.0%[88]. - Total liabilities rose to HK$136,711,249 thousand as of June 30, 2020, up from HK$129,019,713 thousand at the end of 2019[25]. - The Group's net profit increased by 12.7% to HK$45.29 billion for the six months ended June 30, 2020, compared to HK$40.18 billion in the same period last year[97]. - Segment revenue from thermal power was HK$24.75 billion, while renewable energy segment revenue was HK$6.43 billion, totaling HK$31.18 billion[114]. - Segment profit for thermal power was HK$4.01 billion, and for renewable energy was HK$3.69 billion, leading to a total profit before income tax of HK$6.01 billion[114]. Sustainability and ESG Initiatives - CR Power was selected as a constituent of the Hang Seng ESG 50 Index and the Hang Seng Corporate Sustainability Benchmark Index for the first time, effective September 7, 2020[8]. - The selection for the Hang Seng ESG 50 Index focuses on sustainability performance, with only 50 out of over 2,000 listed companies in Hong Kong included[9]. - CR Power has published sustainability reports for 10 consecutive years, demonstrating its commitment to environmental, social, and governance responsibilities[10]. - The company's inclusion in the Hang Seng ESG 50 Index reflects recognition of its sustainable development efforts by the capital markets[10]. - CR Power's operational generation capacity is diversified across various energy sources, enhancing its resilience and sustainability[4]. - The company aims to improve its sustainable development practices continuously, laying a solid foundation for long-term value creation[10]. - CR Power's strategic focus includes expanding its clean and renewable energy projects in affluent regions and areas with abundant coal resources in China[5]. Technological Advancements and Innovations - CR Power is focusing on technological transformation and innovation to improve energy efficiency and reduce emissions[26]. - The company is focusing on advanced technologies for energy storage and hydrogen energy to capture new business opportunities[56]. - The company continues to promote technological innovation in energy conservation and has increased investment in environmental protection upgrades[36]. - As of June, 9 out of 10 regions achieved centralized operation and maintenance of new energy, with 98% of wind turbines included in the centralized monitoring system, and the man-to-turbine ratio increased to 4.43 units per person[33]. Market Expansion and Future Growth - Future growth is anticipated through continued investment in renewable energy projects and potential market expansions in various provinces[22]. - The company plans to actively participate in pilot spot markets for electricity sales and expand its customer base to enhance core competencies in spot trading[56]. - The company is actively developing offshore wind power projects in addition to onshore projects[31]. - In the second half of the year, the company aims to complete a large number of wind power projects and increase the share of renewable energy generation capacity[50]. Employee and Community Engagement - The company has donated approximately RMB 45.79 million to various charitable causes, including RMB 8 million for the construction of Ningxia Haiyuan Ecological Park[43]. - The Group had approximately 21,108 employees as of June 30, 2020[182]. - The Group has entered into employment contracts with all employees, with compensation primarily consisting of salaries and performance-based bonuses[182].