2018-03-29 16:00Financial Performance - In 2017, the company achieved a net profit of 673 million RMB, with a year-on-year increase in power generation equipment output of 7%, totaling 30.4772 million kW[11]. - The company's operating revenue for 2017 was approximately CNY 30.83 billion, a decrease of 7.38% compared to CNY 33.29 billion in 2016[26]. - The net profit attributable to shareholders in 2017 was CNY 673.08 million, a significant increase of 137.72% from a loss of CNY 1.78 billion in 2016[26]. - The basic earnings per share for 2017 was CNY 0.29, compared to a loss of CNY 0.76 per share in 2016, marking an increase of 138.16%[28]. - The total assets at the end of 2017 were CNY 78.92 billion, down 6.83% from CNY 84.70 billion at the end of 2016[27]. - The company generated a net cash flow from operating activities of CNY 450.24 million in 2017, a drastic decline of 94.98% from CNY 8.97 billion in 2016[27]. - The company reported a weighted average return on equity of 3.13% in 2017, an increase of 11.20 percentage points from -8.07% in 2016[28]. - The company reported non-recurring gains of CNY 181.28 million in 2017, compared to CNY 198.29 million in 2016[34]. Market Position and Orders - The company secured new effective orders amounting to 32.09 billion RMB, with a backlog of orders reaching 85.8 billion RMB[11]. - The company maintained a market share of over 40% in the large and medium-sized thermal power market and over 50% in the hydropower market[12]. - New effective orders amounted to 32.09 billion yuan, with high-efficiency clean energy accounting for 54% and new energy for 9%[46]. - The company holds a market share of over 40% in the large and medium-sized thermal power market[46]. - The company has a total of 858 billion yuan in hand orders, with high-efficiency clean energy making up 55%[46]. Research and Development - The company’s self-developed 600MW supercritical circulating fluidized bed power plant won the National Science and Technology Progress Award in 2017[13]. - The company has 1,744 R&D personnel with advanced technical titles and held 1,313 valid patents by the end of 2017[41]. - Significant advancements were made in product development, including the successful research and development of the CAP1400 nuclear power steam generator[52]. - The company is investing 500 million RMB in research and development for innovative technologies over the next three years[171]. Strategic Initiatives - The company plans to extend its industrial chain through a share issuance to acquire assets from its controlling shareholder, enhancing its international operational capabilities[13]. - The company is focusing on three major battles: revitalizing the wind power industry, expanding modern services, and strengthening international business[15]. - The company is actively pursuing international expansion, with export orders amounting to 2.026 billion yuan in 2017[46]. - The company plans to achieve a power generation equipment output of 27 million kilowatts in 2018, aiming for year-on-year growth in revenue and total profit[94]. - The company aims for a 50% year-on-year increase in power station service orders, focusing on expanding the service market for wind, nuclear, and gas turbine power[95]. Social Responsibility and Environmental Commitment - The company is committed to social responsibility, actively engaging in poverty alleviation initiatives in various regions[15]. - In 2017, the company donated a total of RMB 2.56 million and provided material assistance worth RMB 273,000 to designated poverty alleviation counties[143]. - The company is actively involved in environmental protection, ensuring compliance with environmental laws and maintaining effective operation of pollution control facilities[148]. - The company has not experienced any environmental pollution incidents or received penalties from environmental authorities during the reporting period[148]. Governance and Management - The company has established a comprehensive governance structure, including various committees such as the Audit Committee and the Risk Management Committee[187]. - The company has made significant management changes, including the appointment of a new president and several vice presidents during the reporting period[179]. - The board of directors consists of 8 members, including 3 independent non-executive directors, and held 10 meetings during the reporting period[188]. - The company respects and protects the rights of all shareholders, ensuring transparency in major decisions and transactions[187]. Financial Strategy and Cost Management - The company implemented a "cost-leading project," resulting in a 40.98% reduction in sales expenses to RMB 854 million[54]. - Asset impairment losses decreased by 50.44% to RMB 742 million due to improved collection efforts[54]. - The company maintained a procurement cost reduction strategy, achieving a centralized procurement rate exceeding 96%[49]. - The company is committed to enhancing cost efficiency through design and operational improvements, aiming for a reduction in overall costs[98].