Capacity and Generation - As of December 31, 2020, the company had a controllable installed capacity of 113,357 MW and an equity installed capacity of 98,948 MW[6]. - The company operates power plants across 26 provinces, autonomous regions, and municipalities in China, with significant capacity in Shandong (21,138 MW) and Jiangsu (10,930 MW)[12][16]. - The company achieved a controllable power generation capacity of 1,825.04 MW from new gas turbine units in 2020[25]. - The company’s clean energy installed capacity accounted for 20.6% of total installed capacity[25]. - The company added controllable power generation capacity of 1,925.04 MW from thermal power, 2,177.9 MW from wind power, and 771.93 MW from solar power during the year[197]. Financial Performance - In Q1 2020, the company's net profit attributable to shareholders was RMB 2.06 billion, a decrease of 22.42% year-on-year[20]. - In 2019, the company's net profit attributable to shareholders was RMB 1.686 billion, an increase of 17.21% year-on-year[21]. - In H1 2020, the company's net profit attributable to shareholders was RMB 5.733 billion, an increase of 49.73% year-on-year[22]. - In the first three quarters of 2020, the company's net profit attributable to shareholders was RMB 9.133 billion, an increase of 69.34% year-on-year[25]. - The company achieved a total operating revenue of RMB 169.446 billion for the year ended December 31, 2020, a decrease of 2.62% year-on-year[34]. - Net profit attributable to the company's shareholders was RMB 2.378 billion, representing a significant increase of 210.28% compared to the previous year[34]. - The company's operating revenue for 2020 was RMB 169.446 billion, down 2.62% from RMB 174.009 billion in 2019[50]. - The company's net profit for 2020 was RMB 2.611 billion, an increase of 135.65% from RMB 1.108 billion in the previous year[64]. - The company's earnings per share for 2020 was RMB 0.04[189]. Debt and Financing - The company issued USD bonds totaling USD 300 million with a coupon rate of 2.250% maturing in 2025 and another USD 300 million with a coupon rate of 2.625% maturing in 2030[19]. - The company issued RMB 25 billion in 3+N year convertible bonds to qualified investors[20]. - The company issued RMB 30 billion in three-year perpetual medium-term notes in the interbank market[20]. - Interest-bearing debt totaled approximately RMB 241.743 billion, including long-term loans, bonds payable, short-term loans, and finance lease payables[68]. - The total amount of short-term borrowings as of December 31, 2020, was RMB 66.31 billion, a slight decrease from RMB 67.12 billion in 2019[79]. - Long-term borrowings (including current portion) totaled RMB 131.89 billion as of December 31, 2020, compared to RMB 134.02 billion in 2019[80]. - The debt-to-equity ratio decreased to 2.30 at the end of 2020 from 2.74 at the end of 2019, mainly due to the issuance of RMB 25.5 billion in other equity instruments[70]. Market and Operations - The company has established a wholly-owned power operation in Singapore and invested in a power operation in Pakistan[6]. - The company operates power plants across 26 provinces in China and has investments in Singapore and Pakistan, making it one of the largest listed power generation companies in China[39]. - The company’s market share in Singapore's electricity generation was 21.4%, an increase of 0.7 percentage points year-on-year[43]. - The company faced a 17.70% decline in revenue from its Singapore operations, primarily due to falling electricity prices[51]. - The average selling price of electricity for domestic power plants was RMB 413.63 per MWh, a decrease of 0.81% compared to the previous year[49]. Environmental and Technological Advancements - The company has achieved significant milestones in environmental technology, including the development of flue gas collaborative treatment technology widely applied in new and retrofitted projects[8]. - The company has been a pioneer in introducing advanced technologies, including the first 1 million kW ultra-supercritical coal-fired unit in China[8]. - The company completed ultra-low emission upgrades for its coal-fired power plants, complying with government environmental standards[99]. - The company’s ultra-low emission unit capacity reached 98%, with dust, sulfur dioxide, and nitrogen oxide emissions at 8.4 mg/kWh, 67 mg/kWh, and 132 mg/kWh respectively, maintaining industry-leading environmental performance[167]. - The company is committed to green development strategies and aims to optimize its coal power structure while expanding clean energy sources[86]. Governance and Compliance - The company has established a robust governance structure, ensuring effective decision-making and compliance with regulatory requirements[102]. - The board of directors consists of 15 members, with independent non-executive directors making up one-third of the board[118]. - The company has implemented strict compliance measures for securities trading by directors, adhering to the most stringent regulations across the three markets it operates in[117]. - The company has established a comprehensive internal control assessment system, conducting annual evaluations to enhance management quality[44]. - The company has ensured that no violations regarding the use of funds have occurred, as confirmed by independent audits[110]. Future Plans and Strategies - The company plans to implement strategies focused on green development, innovation, and safety to achieve high-quality growth during the 14th Five-Year Plan period[36]. - The company plans to allocate RMB 313.82 billion for wind power capital expenditures in 2021, funded through self-owned funds and bank loans[75]. - The company aims to create long-term, stable, and growing returns for shareholders while maintaining a balanced dividend policy[82]. - The company plans to optimize its energy structure by accelerating the development of clean and efficient coal power and participating actively in market construction[96]. - The company is committed to building a high-quality talent team, focusing on the development of high-level and high-skilled personnel[169].
华能国际电力股份(00902) - 2020 - 年度财报