CHINA LONGYUAN(HK:00916)2019-04-04 08:37Installed Capacity and Generation - As of the end of 2018, the installed capacity of Longyuan Power reached 21,044 MW, with wind power capacity at 18,919 MW, making it the largest wind power operator globally [46]. - In 2018, the total wind power generation was 39.542 billion kWh, an increase of 5.094 billion kWh year-on-year, representing a growth of 14.78% [49][50]. - The total installed capacity of Longyuan Power Group's wind power projects is 4,000.00 MW, with significant contributions from various subsidiaries [73]. - The company has a total installed capacity of 18,918.8 MW in wind power across 29 regions [100]. - The company has a total installed capacity of 1,215.00 MW from various wind power projects, with significant contributions from subsidiaries like Jiangyin Sulong Thermal Power Co., Ltd. and Longyuan Power Group Co., Ltd. [84]. Financial Performance - The company achieved a pre-tax profit of RMB 5.897 billion in 2018, a year-on-year increase of 7.9%, and a net profit attributable to equity holders of RMB 4.166 billion, up 8.3% [49]. - The total revenue for 2018 was RMB 26.388 billion, reflecting a year-on-year growth of 7.3% [49]. - The company reported a total of 396.50 MW from its wind power projects in Shanxi Province, with additional capacities of 198.00 MW in Anhui Province and 144.10 MW in Shaanxi Province [88][91]. - In 2018, the company achieved a net profit of RMB 4.921 billion, an increase of 8.2% compared to RMB 4.550 billion in 2017 [128]. - The wind power segment's revenue in 2018 was RMB 18.424 billion, a 14.6% increase from RMB 16.072 billion in 2017, driven by higher sales volume [162]. Operational Efficiency and Management - The average wind power utilization hours were 2,209 hours, exceeding the industry average by 114 hours [50]. - The company is committed to deepening reforms and improving management efficiency through systematic construction and advanced management practices [53]. - The company implemented strict dual control over curtailment ratio and volume, enhancing management and marketing strategies to maximize benefits [116]. - The company has established a risk prevention and control system to enhance operational safety and efficiency in wind power generation [115]. - The company is focusing on technological upgrades and equipment efficiency improvements to drive operational performance in wind farms [115]. Project Development and Expansion - In 2018, the company approved wind power projects totaling 1,710 MW, with new wind power installations of 523.5 MW [46][51]. - The company is actively expanding its renewable energy projects across various provinces in China and internationally, including Canada and South Africa [70]. - The group has a total of 7.0 GW of approved wind power projects that are not yet operational, which will support ongoing development needs during the 13th Five-Year Plan period [120]. - The company is actively pursuing market expansion through acquisitions and partnerships, enhancing its operational footprint in the renewable energy sector [84]. - The company plans to ensure that the national average wind power utilization rate exceeds 90% by 2019, with a target to control the curtailment rate below 10% [111]. Awards and Recognition - The company has been recognized as one of the "Top 500 Global New Energy Enterprises" for six consecutive years, highlighting its strong market presence [71]. - The company received the "Best Listed Company" award at the 8th China Securities "Golden Bauhinia" Awards [103]. - The company was awarded the "Demonstration Unit for Corporate Culture Construction in the National Power Industry" by the China Electric Power Enterprise Union [104]. - The company’s wind power projects in Shandong, Guangxi, and Shanghai received the "China Power Quality Engineering Award" [105]. - The company’s tidal power test station won the "Outstanding Marine Engineering" honor from the China Ocean Engineering Consulting Association [105]. Strategic Focus and Future Goals - The company plans to focus on high-quality development and innovation-driven strategies to enhance its competitiveness in the global renewable energy market [52][53]. - The company aims to increase its renewable energy capacity significantly in the coming years, aligning with national energy policies and sustainability goals [84]. - The company aims to build a world-class renewable energy company with global competitiveness by 2020, in line with national development goals [200]. - The company is committed to achieving its operational goals for 2019 by adhering to the principles of stability and progress, and by implementing an innovation-driven development strategy [200]. - The company is actively involved in the "Belt and Road" initiative, showcasing its overseas development achievements during the BRICS summit in South Africa [107].