Financial Performance - The operating revenue for the year ended December 31, 2024, was RMB 21.372 billion, an increase of 5.38% compared to 2023[4]. - The pre-tax profit for the same period was RMB 2.347 billion, a decrease of 30.33% year-on-year[4]. - The net profit attributable to shareholders was RMB 1.672 billion, down 24.24% from 2023[4]. - The earnings per share (EPS) was RMB 0.40, reflecting a decline of 21.57% compared to the previous year[4]. - The revenue from the wind and photovoltaic sector was RMB 6.044 billion, a year-on-year decrease of 3.20%, accounting for 28.28% of the group's total revenue[1]. - The revenue from the natural gas sector was RMB 15.318 billion, a year-on-year increase of 9.20%, making up 71.67% of the group's total revenue[2]. - The company reported a total profit of RMB 2.347 billion for the year, a decrease of 30.33% year-on-year, and a net profit of RMB 1.900 billion, down 30.50%[21]. - The total comprehensive income for 2024 was RMB 1,900,360,755.72, a decrease of 30.5% from RMB 2,728,690,063.51 in 2023[159]. - The net profit attributable to the parent company's shareholders for 2024 is RMB 1,672,367,020.97, a decrease from RMB 2,207,473,530.19 in 2023, representing a decline of approximately 24.2%[158]. Assets and Liabilities - The total assets of the group amounted to RMB 84.016 billion as of December 31, 2024[5]. - Total liabilities as of December 31, 2024, are RMB 56,903,738,159.25, up from RMB 52,275,823,528.51 in 2023, indicating an increase of about 8.0%[156]. - The company's cash and cash equivalents decreased to RMB 3,056,262,802.26 from RMB 3,420,053,078.91 in 2023, a decline of approximately 10.7%[155]. - The company's total liabilities exceeded total assets by approximately RMB 8.177 billion, indicating potential liquidity concerns[179]. - The company's interest-bearing debt decreased from RMB 41.01 billion to RMB 34.60 billion, representing a year-on-year decline of 15.63%[128]. Operational Highlights - The group added 559.6 MW of new wind power capacity during the year, bringing the total managed capacity to 7,085.45 MW[11]. - The average utilization hours of the group's wind farms were 2,226 hours, a decrease of 193 hours from the previous year[12]. - The group achieved a total wind power generation of 13.908 billion kWh, a decrease of 1.23% year-on-year[12]. - The company completed the construction of 12 units at the Hebei Fengning pumped storage power station project, with a total designed capacity of 3,600 megawatts[17]. - The company has accumulated effective approved wind power project capacity of 19,681.25 MW across 26 provinces[13]. Natural Gas Business - The total natural gas sales volume for the reporting period was 5.888 billion cubic meters, an increase of 15.13% year-on-year, with wholesale gas volume at 2.012 billion cubic meters (up 2.54%) and retail gas volume at 1.938 billion cubic meters (down 3.09%)[14]. - The net profit from the natural gas business was RMB 478 million, a decrease of 49.50% year-on-year, primarily due to a decline in the unit gross profit of natural gas[22]. - The company achieved a total operating pipeline of 9,850.31 kilometers, including 1,546.81 kilometers of long-distance pipelines and 8,303.5 kilometers of urban gas pipelines, with 108.74 kilometers of new pipelines added in 2024[15]. Research and Development - The total R&D expenditure amounted to RMB 390.05 million, accounting for 1.83% of the operating revenue[79]. - The company has accumulated 72 authorized invention patents and 380 utility model patents as of December 31, 2024[20]. - Research and development expenses for 2024 are RMB 376,608,371.90, slightly up from RMB 371,586,463.46 in 2023, indicating a focus on innovation[158]. Market Strategy and Future Plans - The company plans to gradually divest its existing photovoltaic business to focus resources on wind power generation and natural gas-related industries[17]. - The company is actively pursuing technological innovation and digital transformation to improve operational efficiency and management capabilities[58]. - The company aims to leverage the "two-part" electricity pricing policy for gas power plants in Hebei Province, expediting the construction and operation of approved gas turbine projects while enhancing gas supply network planning[105]. - The company is actively expanding its hydrogen energy industry chain, aiming to integrate wind power resources into hydrogen production and utilization, with a focus on developing green hydrogen projects[106]. - The company plans to enhance its overseas business layout by securing high-quality upstream gas sources and expanding international LNG trade, utilizing flexible financing policies[107]. Financial Management - Capital expenditures for the period were RMB 6.382 billion, an increase of 3.82% from RMB 6.147 billion in the previous year[7]. - The debt-to-asset ratio was 67.73%, an increase of 1.57 percentage points from 66.16% at the end of 2023[9]. - The company is focused on maintaining low-cost financing through various channels, including bond issuance and policy loans, to support project investments[119]. - The company has granted 18.6 million A-shares at a price of RMB 4.10 per share to 225 eligible participants under its 2023 A-share restricted stock incentive plan[124]. - The company raised a total of RMB 4,545,055,183.47 through non-public A-share issuance, with RMB 119,266,226.71 utilized by the end of the reporting period[126].
新天绿色能源(00956) - 2024 - 年度业绩