华润电力(00836) - 2020 - 年度财报

Operational Capacity and Generation - As of December 31, 2020, CR Power's total attributable operational generation capacity was 43,365 MW, with renewable energy sources (wind, hydro, and photovoltaic) accounting for approximately 25.9% of this capacity[2]. - The company's attributable generation capacity from grid-connected wind, hydro, and photovoltaic projects amounted to 11,238 MW, representing about 31.1% of its total operational generation capacity[2]. - The company's operational generation capacity distribution includes 29.1% in Eastern China, 27.6% in Central China, 17.2% in Southern China, 15.2% in Northern China, 5.3% in Northeastern China, 3.4% in Southwestern China, and 2.1% in Northwestern China[2]. - CR Power operates 37 coal-fired power plants, 119 wind farms, 25 photovoltaic power plants, 2 hydro-electric power plants, and 3 gas-fired power plants[2]. - The company's renewable energy projects are concentrated in affluent regions or areas with abundant coal resources in China[2]. - The total attributable operational generation capacity was 43,365 MW as of December 31, 2020, an increase from 40,392 MW in 2019, marking a growth of 4.9%[24]. - Renewable energy attributable operational generation capacity reached 11,238 MW in 2020, up from 9,420 MW in 2019, showing a significant increase of 19.3%[24]. - In 2020, the attributable installed capacity of new grid-connected wind power reached a record high of 4,168 MW, while photovoltaic power reached 279 MW, totaling 4,447 MW[172]. - The Group actively expanded onshore and offshore wind power projects, with several projects commencing preliminary works[173][174]. Financial Performance - Basic earnings per share attributable to owners of the Company increased to HK$1.58 in 2020 from HK$1.37 in 2019, representing a growth of 15.4%[14]. - Turnover for the Company reached HK$69,550,811,000 in 2020, up from HK$67,757,632,000 in 2019, indicating a year-on-year increase of 2.6%[14]. - Profit attributable to owners of the Company rose to HK$7,582,668,000 in 2020, compared to HK$6,590,345,000 in 2019, reflecting a growth of 15.0%[14]. - The company's turnover for 2020 was HK$69.55 billion, representing a year-on-year increase of 2.6%[36]. - Profit attributable to owners of the company was HK$7.58 billion, reflecting a year-on-year increase of 15.1%[36]. - Core profit attributable to shareholders amounted to HK$9.755 billion, representing an increase of 9.8% compared to 2019[37]. - The net profit contribution from renewable energy business amounted to HK$4.193 billion, a significant increase of 43.7% from HK$2.917 billion in 2019, accounting for approximately 50.1% of total profit[36]. - The annual heat sales increased by 10.52% year-on-year to 111 million GJ, with turnover from heat supply operations amounting to HK$5.626 billion, representing a 9.4% increase from the previous year[41]. Sustainability and Corporate Governance - CR Power was selected for the first time as a constituent of the Hang Seng ESG 50 Index and the Hang Seng Corporate Sustainability Benchmark Index, effective September 7, 2020[4]. - The inclusion in the Hang Seng ESG 50 Index reflects CR Power's commitment to sustainable development and its performance in environmental, social, and governance aspects[9]. - CR Power has published sustainability reports for 11 consecutive years, continuously reviewing its performance to enhance sustainable development practices[9]. - The company's strategy integrates environmental, social, and governance responsibilities into its operations, aiming to create long-term value[9]. - The company is researching pathways and timelines for achieving peak carbon dioxide emissions and carbon neutrality in line with the United Nations Sustainable Development Goals[31]. - The Group emphasizes compliance with legal and regulatory requirements, having complied in all material respects with relevant laws and regulations during the year ended 31 December 2020[84]. - The Group's environmental policies focus on sustainability, resource conservation, and the development of clean and renewable energy projects[83]. Investments and Future Growth - The company aims to increase its renewable energy installed capacity by 40 GW during the "14th Five-Year Plan" period, targeting over 50% of total installed capacity by the end of 2025[53]. - Future growth is anticipated through the development of new technologies and market expansion initiatives[25]. - The company plans to enhance its clean energy capacity and improve operational efficiency through technological innovation and new business models[56]. - The Group aims to increase its installed capacity of renewable energy by 40 million kW over the next five years, targeting over 50% renewable energy capacity by the end of 2025[192]. - The Group expects to commission 515 MW of coal-fired and gas-fired power generation units in 2021, including a 660 MW ultra-supercritical unit[198]. Leadership and Management - Mr. Tang Yong was appointed as Executive Director and President in December 2019, bringing extensive experience from China Resources Land Limited[61]. - The company emphasizes its commitment to corporate governance and strategic management through its experienced leadership team[61][62][64][65]. - The leadership team collectively holds advanced degrees, including MBAs from prestigious institutions, enhancing their strategic decision-making capabilities[63][64][65]. - The management team has a strong background in finance, strategy, and corporate governance, which supports the company's growth initiatives[62][64][65]. Charitable Contributions and Community Engagement - The company donated a total of RMB20 million to Haiyuan County, Ningxia for the construction of public welfare forests, contributing to ecological improvement[48]. - During the "13th Five-Year Plan" period, the company contributed over RMB200 million in poverty alleviation funds, benefiting more than 18,000 families[47]. - In 2020, the company donated approximately RMB 175 million to various social causes, including poverty alleviation and education[51]. - The company has created over 2,000 jobs in local communities through its poverty alleviation initiatives[50]. Related Party Transactions - Significant related party transactions included interest expenses paid to CRH amounting to HKD 145.56 million and direct power supply transactions totaling HKD 144,000[154]. - The company confirmed that all continuing connected transactions were fair and reasonable for the shareholders as a whole[149]. - The Group's total rent paid to CRH and its associates for leasing office space for the year ended December 31, 2020, was RMB80.49 million (approximately HK$90.15 million)[143].