wsdl(SH:600995)2024-08-29 11:47Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,911,153,231.18, representing a 1.76% increase compared to CNY 2,860,879,604.60 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2024 was CNY 626,222,885.11, a decrease of 9.58% from CNY 692,602,144.71 in the previous year[18]. - The net cash flow from operating activities decreased by 7.44%, amounting to CNY 1,856,386,152.12 compared to CNY 2,005,513,549.77 in the same period last year[18]. - The total assets at the end of the reporting period were CNY 46,582,839,052.03, reflecting a 4.71% increase from CNY 44,486,027,161.99 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 1.65%, reaching CNY 21,181,071,603.27 compared to CNY 20,836,661,255.98 at the end of the previous year[18]. - The basic earnings per share for the first half of 2024 was CNY 0.20, down 9.09% from CNY 0.22 in the same period last year[19]. - The weighted average return on equity decreased by 0.45 percentage points to 2.97% compared to 3.42% in the previous year[19]. - The company reported a decrease of 8.43% in net profit after deducting non-recurring gains and losses, totaling CNY 634,063,686.70 compared to CNY 692,421,154.31 last year[18]. Assets and Liabilities - The company's total liabilities reached CNY 21.96 billion, up from CNY 20.20 billion, marking an increase of around 8.69%[125]. - The total equity attributable to shareholders rose to CNY 21.18 billion from CNY 20.84 billion, showing an increase of about 1.63%[125]. - The company's cash and cash equivalents increased to CNY 3.91 billion from CNY 3.22 billion, a growth of approximately 21.36%[124]. - Accounts receivable rose to CNY 667.81 million, up from CNY 468.22 million, representing a significant increase of about 42.61%[124]. - Inventory increased to CNY 265.68 million from CNY 229.73 million, reflecting a growth of approximately 15.63%[124]. - The company reported a decrease in short-term borrowings to CNY 144.79 million from CNY 250.21 million, a reduction of about 42.14%[125]. - Long-term borrowings increased to CNY 17.41 billion from CNY 14.07 billion, indicating a growth of approximately 23.36%[125]. Investments and Projects - In the first half of 2024, the total installed capacity of the company's pumped storage reached 10.28 million kW, with 9 projects under construction and approved, totaling 10.8 million kW[27]. - The company operates a total of 12.73 million kW of installed capacity, including 10.28 million kW of pumped storage, 423.8 thousand kW of new energy storage, and 2.03 million kW of peak-shaving hydropower[27]. - The company is developing 9 pumped storage power stations with a total capacity of 10.8 million kW and has 20 reserve projects totaling 27.5 million kW, laying a solid foundation for future growth[34]. - Significant ongoing projects include the Guangxi Nanning Pumped Storage Power Station with a cumulative investment of 2.88495 billion RMB and the Guangdong Zhaoqing Langjiang Pumped Storage Power Station with a cumulative investment of 1.85002 billion RMB[51]. - The company has established a cumulative installed capacity of 423.8MW/832MWh for new energy storage stations by the end of the reporting period, with two new electrochemical storage stations launched during the period[28]. Research and Development - The company has been recognized with 103 new invention patents during the reporting period, bringing the total to 447 patents[32]. - The company has completed the research and development of a 10MWh sodium-ion battery energy storage system, contributing to the operation of the first 10MWh sodium-ion battery energy storage station in the country[37]. - Research and development expenses increased by 1.37% to $7.45 million, driven by changes in R&D project activities[41]. Environmental and Social Responsibility - The company has invested 194,000 yuan in six targeted poverty alleviation projects across Guangdong, Yunnan, and Guizhou provinces in the first half of 2024[71]. - The company has implemented measures to enhance energy efficiency, including upgrading old transformers to ensure new equipment meets at least level two energy efficiency standards[70]. - The company has initiated a tree planting campaign to improve carbon sink capacity and promote green development[69]. - The company has actively engaged in ecological restoration, with 231,300 square meters of land restored in ongoing projects in the first half of 2024[68]. Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve conversion during this reporting period[4]. - There are no significant risks or uncertainties that could affect the accuracy and completeness of the financial report as stated by the board of directors[5]. - The company held two shareholder meetings during the reporting period, approving a total of 13 proposals without any rejections[61]. - Non-independent director Jiang Yuhao resigned due to reaching the statutory retirement age, effective April 16, 2024, and Zhang Kun was elected as a non-independent director on May 16, 2024[63]. Compliance and Legal Matters - The company has not received any penalties or corrective actions related to violations of laws or regulations during the reporting period[81]. - There were no significant litigation or arbitration matters reported during the reporting period[81]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[80]. Financial Management - The company issued 1 billion RMB in "carbon neutral" green bonds, reducing financing costs by 1.1 percentage points compared to the same period's LPR[36]. - The company has a total credit line of CNY 40 billion with the Southern Power Grid Finance Company, with actual transactions amounting to CNY 12.7 billion[93]. - The company raised a total of CNY 8.00 billion, with a net amount of CNY 7.95 billion after deducting issuance costs[98]. - The company reported a total of 127 million RMB in expected related party transactions for 2024, with actual transactions in the first half amounting to 35.38 million RMB[82]. Accounting and Financial Reporting - The financial statements comply with the requirements of the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[157]. - The company has made no adjustments for prior period errors, maintaining consistency in its financial reporting[145]. - The company’s accounting period runs from January 1 to December 31 each year[158]. - The company recognizes its share of jointly controlled assets and liabilities in joint operations and accounts for them according to relevant accounting standards[166].