Financial Performance - The company achieved total operating revenue of RMB 69.695 billion in 2024, an increase of 14.86% compared to RMB 60.677 billion in 2023[3]. - The net profit attributable to shareholders was RMB 2.922 billion in 2024, a decrease of 17.70% from RMB 3.550 billion in 2023[3]. - The basic earnings per share for 2024 was RMB 0.94, down from RMB 1.14 in 2023[3]. - New orders amounted to approximately RMB 101.142 billion in 2024, reflecting a growth of 16.88% from RMB 86.532 billion in 2023[3]. - The total profit for the year was RMB 3.88 billion, a decrease of 3.04% compared to the previous year[32]. - The company reported a total comprehensive income of CNY 3.29 billion for 2024, compared to CNY 3.64 billion in 2023[13]. - The total comprehensive income for 2024 is approximately CNY 3.30 billion, a decrease from CNY 3.50 billion in 2023, representing a decline of about 5.8%[15]. - The net income attributable to the parent company for 2024 is approximately CNY 2.93 billion, down from CNY 3.42 billion in 2023, indicating a decrease of around 14.3%[15]. Assets and Liabilities - Total current assets as of December 31, 2024, reached RMB 93.780 billion, up from RMB 75.689 billion in 2023[6]. - Total assets increased to RMB 142.009 billion as of December 31, 2024, compared to RMB 121.108 billion in 2023[7]. - Current liabilities totaled RMB 88.913 billion as of December 31, 2024, compared to RMB 71.249 billion in 2023[8]. - Total liabilities increased to CNY 98.87 billion in 2024, up 23.7% from CNY 79.89 billion in 2023[10]. - Non-current liabilities totaled CNY 9.95 billion, an increase of 15.3% from CNY 8.64 billion in 2023[10]. - The company's asset-liability ratio for 2024 is 69.62%, calculated as total liabilities divided by total assets multiplied by 100%[68]. Cash Flow and Investments - The company reported cash and cash equivalents of RMB 26.856 billion as of December 31, 2024, up from RMB 17.129 billion in 2023[6]. - The net cash flow from operating activities was CNY 10.06 billion, a substantial improvement from a negative CNY 3.50 billion in the previous year[39]. - The company's cash flow from investment activities decreased due to increased outflows from the financial company's investment business[42]. - The company’s cash paid for investments increased by 41.36% to RMB 35.65 billion compared to RMB 25.22 billion last year[61]. Research and Development - Research and development expenses rose to CNY 3.01 billion, a 9.4% increase from CNY 2.75 billion in 2023[12]. - The company’s R&D expenditure intensity remained above 5%[32]. - Total R&D investment for the period amounts to RMB 3.816 billion, representing 5.48% of operating revenue[58]. Market and Orders - The order backlog reached a historical high of RMB 152.61 billion[32]. - The market share for pumped storage reached 41.6%, while conventional hydropower market share was 45%[33]. - The company’s wind power segment secured a market share exceeding 10% and ranked 6th in new installed capacity among manufacturers[33]. Dividends and Shareholder Proposals - The board proposed a cash dividend of RMB 4.38 per 10 shares for the 2024 fiscal year, subject to shareholder approval[3]. - The company plans to distribute a cash dividend of RMB 4.38 per 10 shares for the 2024 fiscal year[31]. Operational Efficiency and Management - The company is implementing a comprehensive risk management strategy, focusing on accounts receivable, contracts, and quality control[80]. - The company is enhancing its management level through lean operation management and improving marketing planning capabilities[79]. - The company is deepening reforms and optimizing its operational mechanisms to ensure continuous improvement in governance[79]. Future Outlook and Strategic Goals - By 2025, the total electricity consumption in China is expected to grow by approximately 6% compared to 2024, with new power generation capacity projected to exceed 450 million kW, including over 300 million kW from renewable sources[74]. - The company anticipates significant growth in renewable energy installations, which are becoming the main component of new power generation capacity in China[75]. - The company aims to achieve a power generation equipment output of 73 million kilowatts by 2025[78]. - The company is committed to building a green, low-carbon industrial ecosystem and promoting sustainable development[78]. Corporate Governance - The company has fully complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[95]. - The company confirmed that all directors and supervisors adhered to the standards for securities trading as stipulated by the Hong Kong Stock Exchange as of December 31, 2024[96].
东方电气(01072) - 2024 - 年度业绩