Financial Performance - The company's operating revenue for the year ended December 31, 2024, was approximately RMB 123.47 billion, representing a year-on-year increase of 0.86%[4] - The pre-tax profit reached approximately RMB 8.67 billion, an increase of 51.88% compared to the previous year[4] - Net profit attributable to equity holders of the company was approximately RMB 4.54 billion, a significant increase of 215.05% from RMB 1.44 billion in the previous year[4] - Basic earnings per share was approximately RMB 0.1646, compared to a loss of RMB 0.0114 in the previous year, marking a turnaround[4] - The operating profit for 2024 was RMB 11,150.991 million, significantly up from RMB 8,028.757 million in 2023, indicating an increase of approximately 38.4%[34] - The net profit for the year was RMB 6,898.952 million, compared to RMB 3,103.217 million in 2023, marking a substantial growth of around 122.5%[34] - The company's profit for the year 2024 reached RMB 6,898,952 thousand, a significant increase from RMB 3,103,217 thousand in 2023, representing a growth of approximately 122.5%[35] - Total comprehensive income for the year amounted to RMB 6,869,129 thousand, compared to RMB 3,366,913 thousand in 2023, indicating an increase of about 104.4%[35] - The net profit attributable to shareholders for 2024 was RMB 4,506,183,000, representing a significant increase of 229.70% compared to RMB 1,366,761,000 in 2023[72] Cost Management - The total operating costs for the year amounted to approximately RMB 112.32 billion, a decrease of about RMB 2.07 billion or 1.81% compared to the previous year, primarily due to a reduction in fuel costs[9] - The financial expenses for the year were approximately RMB 5.30 billion, a decrease of about RMB 0.465 billion or 8.06% compared to the previous year, mainly due to controlled financing costs[10] - The total operating costs decreased to RMB 112,322.638 million in 2024 from RMB 114,397.843 million in 2023, reflecting a reduction of about 1.82%[34] - Total employee costs for 2024 amounted to RMB 9,933,175, a decrease of 11.25% from RMB 11,188,331 in 2023[63] Asset and Liability Management - As of December 31, 2024, the total assets of the group were approximately RMB 322.62 billion, an increase of about RMB 18.35 billion compared to the end of 2023, mainly due to the increase in property, plant, and equipment from power project construction[12] - As of December 31, 2024, the total liabilities of the group were approximately RMB 229.19 billion, an increase of about RMB 13.45 billion compared to the end of 2023, primarily due to increased financing needs for power project construction[12] - The group had cash and cash equivalents of approximately RMB 7.73 billion, with about RMB 0.137 billion in foreign currency deposits[13] - The group has a debt ratio of approximately 71.04% and a net debt-to-equity ratio of approximately 190.07%[13] - The company's accounts receivable increased to RMB 21,142,490,000 in 2024 from RMB 19,853,637,000 in 2023, after accounting for impairment provisions[67] - The total liabilities, including accounts payable and contract liabilities, rose to RMB 30,984,525,000 in 2024, compared to RMB 28,678,392,000 in 2023[70] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.0621 per share for the fiscal year 2024[2] - The board of directors proposed a cash dividend of RMB 0.0621 per share, totaling approximately RMB 1.149 billion, subject to shareholder approval[19] - The total cash dividend for the fiscal year represents 38.13% of the net profit attributable to shareholders under Chinese accounting standards[22] - The company proposed a final dividend of RMB 0.0621 per share for the year ending December 31, 2024, totaling RMB 1,149,267,000 (including tax) to be approved at the shareholders' meeting[64] Corporate Governance - The company received an A rating in the annual information disclosure assessment from the Shanghai Stock Exchange, reflecting improved corporate governance[7] - The company has consistently complied with the corporate governance code, with recent board and supervisory committee elections held[25] - The company established various committees, including the nomination committee and remuneration committee, to ensure effective governance and oversight[28] - The board of directors ensured adequate representation at the annual general meeting, despite some members being unable to attend due to public duties[27] Renewable Energy and Sustainability - The company is focused on expanding its renewable energy portfolio and transitioning traditional industries towards green and low-carbon energy solutions[6] - The installed capacity of new power generation units increased by 6,700.263 MW during the reporting period, with wind power projects contributing 2,594.2 MW and photovoltaic projects contributing 1,704.823 MW[7] - The proportion of low-carbon clean energy installations rose to 40.37%, an increase of 2.62 percentage points compared to the end of the previous year[7] Compliance and Accounting Standards - The group has adopted revised International Financial Reporting Standards (IFRS) effective from January 1, 2024, including IFRS 16 regarding lease liabilities in sale and leaseback transactions[40] - The group has implemented amendments to IAS 7 and IFRS 7, requiring disclosure of supplier financing arrangements to assess their impact on liabilities and cash flows[41] - The company confirmed compliance with the standards for securities trading by all directors and supervisors during the year[29] - The audit committee reviewed the accounting policies and internal controls, affirming that the financial report for 2024 complies with applicable accounting standards[30] Employee and Operational Insights - The total number of employees in the group was 27,969, with a focus on performance-based compensation systems to enhance employee motivation and productivity[15] - The company aims to strengthen safety management and enhance high-quality development in 2025, focusing on cost reduction and market opportunities[16][17]
大唐发电(00991) - 2024 - 年度业绩