Financial Performance - Total operating revenue for the year ended December 31, 2024, was RMB 4,775,571,527.88, representing an increase of 14.8% compared to RMB 4,160,192,577.95 in 2023[5] - Net profit for the year ended December 31, 2024, reached RMB 401,248,216.33, up 17.3% from RMB 342,000,155.59 in 2023[7] - Basic and diluted earnings per share increased to RMB 0.37 from RMB 0.32, reflecting a growth of 15.6%[7] - The total profit for 2024 was approximately RMB 466.8 million, reflecting a year-on-year increase of about 14.1%[49] - The net profit for the same year reached approximately RMB 401.2 million, with a year-on-year growth of about 17.3%[49] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 7,361,549,780.96, a rise of 16.4% from RMB 6,324,835,385.59 in 2023[9] - Total liabilities increased to RMB 3,676,433,841.24, up 25.9% from RMB 2,920,998,154.61 in 2023[11] - Current assets totaled RMB 2,004,055,122.24, an increase of 28.1% compared to RMB 1,562,998,347.56 in 2023[9] - Cash and cash equivalents were RMB 569,899,108.46, up from RMB 500,263,848.63, indicating a growth of 13.9%[9] - Long-term borrowings increased to RMB 557,440,000.00 from RMB 323,500,000.00, reflecting a significant rise of 72.3%[11] Revenue Breakdown - The company generated RMB 4,769,193,293.61 in revenue from contracts in 2024, a 14.8% increase from RMB 4,155,596,460.94 in 2023[18] - The general power supply business generated revenue of approximately RMB 3,985.1 million, accounting for about 83.8% of the main business revenue[54] - The incremental power distribution business reported revenue of approximately RMB 354.2 million, representing about 7.5% of the main business revenue[55] - Revenue from power engineering construction services and related businesses was approximately RMB 416.0 million, making up about 8.7% of the main business revenue[56] Expenses and Costs - The cost of goods sold for 2024 was RMB 3,978,882,555.40, up from RMB 3,484,310,248.78 in 2023, reflecting a cost increase of 14.2%[16] - Financial expenses for 2024 totaled RMB 15,329,400.83, an increase from RMB 13,309,483.67 in 2023[20] - The company reported a total tax expense of RMB 65,501,879.11 for 2024, a slight decrease from RMB 67,190,179.11 in 2023[26] Equity and Dividends - The total equity attributable to shareholders of the parent company increased to RMB 3,614,620,222.83, up 7.7% from RMB 3,355,293,837.13 in 2023[13] - The proposed final dividend for the year ending December 31, 2024, is RMB 150,410,078.00, compared to RMB 139,666,501.00 for the previous year[40] - The board proposed a final dividend of RMB 0.14 per share for the year ending December 31, 2024, totaling approximately RMB 150,410,078.00, pending approval at the annual general meeting[122] Operational Highlights - The company operates a total of 6 hydropower stations with a combined installed capacity of 127,030 kW as of the end of 2024[49] - The company constructed 16 new charging stations and added 145 charging piles, with a total installed capacity of 571.32 kW from distributed photovoltaic projects[61] - The company completed seven new 110 kV power transmission and transformation projects, enhancing power supply capacity and grid reliability[59] Strategic Initiatives - The company plans to invest approximately RMB 1,467 million in 2025, including RMB 489.5 million for infrastructure, RMB 423.9 million for fixed asset upgrades, RMB 141.7 million for new fixed asset purchases, RMB 336.3 million for other investments, and RMB 75.6 million for equity investments[110] - The company aims to enhance operational efficiency through lean management and budget control mechanisms to reduce non-productive expenditures[114] - The company plans to enhance its core competitiveness by optimizing its industrial layout and focusing on green energy development, including acquiring quality clean energy projects through share issuance and cash payments[117] Governance and Compliance - The company has adopted corporate governance codes and has complied with them throughout the year 2024[131] - The company has adopted the standard code of conduct for directors and supervisors, confirming compliance for the year ended December 31, 2024[132] - The audit committee has reviewed the financial performance for the year ended December 31, 2024, and confirmed that the financial statements comply with applicable accounting standards[134] Future Outlook - The company anticipates further development opportunities in electricity sales, distribution, and integrated energy services due to ongoing regional economic initiatives[46] - The company is actively pursuing strategic talent acquisition to support its core development needs and enhance technological innovation management[121] - The company anticipates an additional bank loan of RMB 800 million in 2025 to support its continued rapid development[110]
四川能投发展(01713) - 2024 - 年度业绩