NMHD(600863)2014-04-24 16:00Financial Performance - The company reported a significant increase in revenue, with total operating income reaching RMB 1.2 billion, representing a growth of 15% compared to the previous year[24]. - The net profit attributable to shareholders was RMB 300 million, an increase of 20% year-on-year, indicating strong operational performance[24]. - The company's operating revenue for 2013 was CNY 12.15 billion, an increase of 9.87% compared to CNY 11.06 billion in 2012[33]. - The net profit attributable to shareholders for 2013 was CNY 1.38 billion, reflecting a growth of 6.16% from CNY 1.30 billion in 2012[34]. - The net cash flow from operating activities increased by 28.89% to CNY 4.88 billion, up from CNY 3.79 billion in the previous year[35]. - The company's coal sales revenue reached CNY 1.09 billion, a significant increase of 55.41% due to higher production from its subsidiary[34]. - The company achieved an investment income of CNY 819 million, which is a 9.11% increase compared to the previous year[34]. - The company reported a basic earnings per share of CNY 0.36, unchanged from the previous year[26]. - The company reported a net profit of 1,375,630,866.97 RMB for the year 2013, with a cash dividend payout ratio of 84.44%[90]. Operational Efficiency - The company's total installed capacity reached 2,500 MW, with a utilization rate of 85%, reflecting efficient energy production[24]. - The company reported a 12% increase in electricity sales volume, reaching 5 billion kWh, driven by higher demand in the region[24]. - The average on-grid electricity price decreased by CNY 3.94 per kWh to CNY 287.54 per kWh, impacting electricity sales revenue by a reduction of CNY 146 million[34]. - The company's controllable installed capacity was 7.59 million kW, showing a year-on-year growth of 0.66%[33]. - The company completed a total power generation of 40.466 billion kWh, exceeding the initial plan by 2.259 billion kWh[46]. - The average power generation utilization hours increased by 352 hours to 5,354 hours in 2013[70]. Market Strategy and Expansion - The company plans to expand its market presence by investing in renewable energy projects, aiming for a 30% increase in renewable capacity by 2015[24]. - The company is actively exploring potential mergers and acquisitions to enhance its market position and operational capabilities[24]. - The company is focusing on expanding its power transmission capabilities, with plans for new power export channels to enhance its market presence[58]. - The company anticipates a slight decrease in electricity consumption growth, projecting a national increase of 6.5%-7.5% in electricity usage, with GDP growth at 7.5%[77]. Risk Management - The company has implemented a robust internal control system to mitigate risks associated with market fluctuations and regulatory changes[10]. - The company anticipates continued challenges in the electricity market, with supply exceeding demand in the Inner Mongolia region, and is preparing strategies to address these risks[10]. - The company acknowledges potential risks from fluctuations in coal prices, which significantly impact operational costs due to its reliance on thermal power generation[83]. Environmental Initiatives - The company has initiated research and development for new technologies in coal-fired power generation, targeting a 10% reduction in emissions by 2016[24]. - The company has installed dust removal equipment on all 18 operating units, achieving a dust removal efficiency of over 99%[93]. - The company’s flue gas desulfurization systems operate with a desulfurization efficiency of over 90%[93]. - The desulfurization efficiency increased from over 80% to over 90% after the completion of desulfurization capacity expansion projects in 2013, significantly contributing to sulfur dioxide reduction[96]. - The company's environmental protection facilities operated normally during the reporting period, meeting all standard requirements without any environmental violations[95]. Governance and Management - The company continues to maintain a stable governance structure with no changes in board composition reported[145]. - The management team includes experienced professionals with extensive backgrounds in finance and energy sectors, which could positively impact strategic decision-making[157]. - The company is focused on maintaining a robust governance framework with a mix of directors and supervisors across its subsidiaries[156]. - The total number of employees in the parent company is 1,769, while the main subsidiaries employ 4,238, resulting in a total of 6,007 employees[160]. - The company has made commitments to resolve "same industry competition" and "multiple systems in one plant" issues over a five-year period, aiming for gradual asset integration[167]. Financial Position - The total assets at the end of 2013 were CNY 35.60 billion, a slight decrease of 1.32% from CNY 36.08 billion in 2012[33]. - The company's current assets totaled RMB 2,189,319,210.38, down from RMB 2,364,591,303.86 at the beginning of the year, indicating a decrease of approximately 7.4%[197]. - The company's non-current assets were valued at RMB 33,415,473,891.07, a decrease from RMB 33,717,719,147.43 at the beginning of the year, reflecting a decline of about 0.9%[197]. - Total liabilities decreased to CNY 21.74 billion from CNY 23.09 billion, a reduction of approximately 5.8%[199]. - Total equity increased to CNY 13.86 billion from CNY 12.99 billion, reflecting a growth of about 6.7%[199].