闽东电力(000993) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥602,657,921.12, a decrease of 59.92% compared to ¥1,503,585,794.81 in 2023[21]. - The net profit attributable to shareholders for 2024 was ¥169,324,750.26, down 27.80% from ¥234,511,926.85 in 2023[21]. - The net profit after deducting non-recurring gains and losses was ¥114,852,340.74, a decline of 49.73% from ¥228,482,375.39 in 2023[21]. - Basic earnings per share for 2024 were ¥0.37, down 27.45% from ¥0.51 in 2023[21]. - Total assets at the end of 2024 were ¥3,654,997,186.67, an increase of 8.09% from ¥3,381,496,175.01 at the end of 2023[21]. - Net assets attributable to shareholders at the end of 2024 were ¥2,505,873,253.85, up 1.99% from ¥2,457,062,868.87 at the end of 2023[21]. - The company achieved operating revenue of 60,266 million yuan in 2024, a decrease of 90,093 million yuan or 59.92% compared to the previous year, primarily due to reduced revenue from the real estate sector[33]. - The net profit attributable to the parent company was 16,932 million yuan, down 6,519 million yuan or 27.80% year-on-year, also mainly due to decreased revenue from the real estate sector[33]. - The company reported a significant increase in cash flow from operating activities, indicating improved liquidity despite lower profits[21]. Revenue Breakdown - Power industry revenue increased by 20.85% to ¥573,487,033.41, accounting for 95.16% of total revenue in 2024[44]. - Real estate revenue plummeted by 97.95% to ¥20,859,706.36, down from ¥1,019,869,818.32 in 2023, representing only 3.46% of total revenue[44]. - The company sold 141,611,000 kWh of electricity, a 21.65% increase from 116,406,000 kWh in 2023[51]. Operating Costs and Cash Flow - Operating costs fell to 296.82 million, a decrease of 70.60% compared to 1,009.47 million in the previous year, also attributed to lower real estate development costs[35]. - Operating cash inflow increased by 10.27% to ¥639,239,616.05, while operating cash outflow decreased by 18.66% to ¥417,293,629.30, resulting in a net cash flow from operating activities of ¥221,945,986.75, a 233.03% increase[56]. Investments and Projects - The company is actively pursuing mergers and acquisitions in the clean energy sector, establishing a reserve of quality projects for potential acquisition[37]. - The company has accelerated the construction of offshore wind and photovoltaic projects, with an expected additional capacity of 30.55 MW from 8 reserve projects[36]. - The company is planning to expand its investment in renewable energy projects, including offshore wind farms[123]. Governance and Management - The company reported a significant leadership change with the resignation of several key executives, including independent directors Liu Ning and Zheng Shuguang, who completed their six-year terms[101]. - The company announced the election of new board members, including Huang Jianen as Chairman and Wang Jing as a director, effective March 15, 2024, and July 29, 2024, respectively[101]. - The company is focusing on expanding its market presence and enhancing operational efficiency through strategic appointments and restructuring[102]. - The company has emphasized the importance of governance and compliance in its operations, as evidenced by the recent changes in its board and management[101]. Safety and Risk Management - The company maintained a zero-accident safety record throughout the year, with a total investment of 9.05 million yuan in safety production initiatives[39]. - The company faces risks related to natural climate conditions affecting hydropower output, as well as policy risks that could impact its electricity sector development[86]. - The company emphasizes the importance of safety and risk management, implementing a comprehensive safety production responsibility system[85]. Community and Environmental Responsibility - The company actively participates in community development and social responsibility initiatives, including support for local educational projects and infrastructure repairs[144]. - There are no significant defects in non-financial reporting, and the company has not faced any administrative penalties related to environmental issues during the reporting period[141]. Future Outlook - The company aims to enhance energy security and promote green low-carbon transformation, targeting an increase in renewable energy generation capacity by over 20 million kilowatts by 2025[82]. - The company has set ambitious performance guidance for the upcoming fiscal year, aiming for a revenue growth of over 15%[105]. - The company is committed to fostering innovation and exploring new business models to enhance its competitive edge in the energy sector[84].