SEP(SH:600021)2025-03-31 10:45Financial Performance - The company's operating revenue for 2024 reached ¥42,733,886,034.16, an increase of 0.78% compared to ¥42,401,756,975.54 in 2023[23] - Net profit attributable to shareholders for 2024 was ¥2,045,978,960.30, representing a significant increase of 28.46% from ¥1,592,660,430.89 in 2023[23] - The net cash flow from operating activities for 2024 was ¥8,172,473,975.07, up by 10.35% from ¥7,405,846,989.44 in 2023[23] - The total assets of the company as of the end of 2024 amounted to ¥189,377,708,919.86, reflecting a growth of 12.34% from ¥168,572,335,291.72 at the end of 2023[24] - The basic earnings per share for 2024 increased to ¥0.6172, a rise of 24.59% compared to ¥0.4954 in 2023[25] - The weighted average return on equity for 2024 was 9.33%, an increase of 1.19 percentage points from 8.14% in 2023[25] - The net profit after deducting non-recurring gains and losses for 2024 was ¥1,894,695,413.48, which is a 26.57% increase from ¥1,496,990,353.98 in 2023[23] - The company's net assets attributable to shareholders at the end of 2024 were ¥29,077,964,971.98, a 4.67% increase from ¥27,780,201,828.40 at the end of 2023[24] Quarterly Performance - The total operating revenue for the first quarter of 2024 was approximately CNY 10.61 billion, with a net profit attributable to shareholders of CNY 633.87 million[28] - In the second quarter, the operating revenue decreased to approximately CNY 9.51 billion, while the net profit attributable to shareholders increased to CNY 693.22 million[28] - The third quarter saw a significant increase in operating revenue to approximately CNY 12.44 billion, with a net profit of CNY 1.13 billion attributable to shareholders[28] - The fourth quarter reported an operating revenue of approximately CNY 10.17 billion, but a net loss of CNY 412.62 million attributable to shareholders[28] Cash Flow and Investments - The net cash flow from operating activities for the first three quarters was CNY 1.85 billion, CNY 2.49 billion, and CNY 3.17 billion respectively, with a drop to CNY 663.58 million in the fourth quarter[28] - The total balance of investments increased from CNY 1.79 billion at the beginning of the year to CNY 1.96 billion at the end of the year, reflecting a change of CNY 171.57 million[34] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[28] Renewable Energy and Capacity - As of the end of 2024, the company's installed capacity reached 24,653.1 MW, a year-on-year increase of 9.8%, with clean energy accounting for 60.05%, up 3.93 percentage points year-on-year[37] - The company achieved a total profit of CNY 5.196 billion in 2024, representing an 18% year-on-year growth, while the net profit attributable to shareholders was CNY 2.046 billion, up 28.46% year-on-year[41] - The company’s total electricity generation reached 77.147 billion kWh, and heat supply was 19.8819 million GJ, reflecting increases of 2.27% and 6.16% year-on-year, respectively[41] - The installed capacity of renewable energy generation in China reached 1.45 billion kW, surpassing that of thermal power for the first time[46] Cost Management - The company’s fuel cost decreased, with the price of standard coal at CNY 1,072.41 per ton, down 7.32% year-on-year[42] - The company’s comprehensive financing cost was 2.96% at the end of 2024, a decrease of 0.51 percentage points year-on-year[42] - Operating costs decreased by 1.21% year-on-year to 32.70 billion RMB, primarily due to a reduction in coal costs and improved internal cost control[67] Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[9] - The company has a risk management strategy in place to address market, performance, and legal risks associated with its derivative trading activities[108] - The company is aware of geopolitical risks affecting overseas investments and will implement thorough due diligence and risk management strategies[121] Corporate Governance - The company has received an A rating for its information disclosure practices, reflecting its commitment to transparency and effective communication with investors[124] - The company has established independent financial accounting departments and management systems to ensure operational independence[127] - The company has committed to avoiding any actual or potential competition with its controlling shareholder[128] Environmental and Social Responsibility - The company has invested approximately 282.57 million yuan in environmental protection during the reporting period, covering pollution control, ecological restoration, and environmental education[178] - The company achieved a total emission of 241 tons of particulate matter, 2,569 tons of sulfur dioxide, and 4,053 tons of nitrogen oxides in 2024[179] - The company has focused on achieving "carbon peak" and "carbon neutrality" goals as part of its new development strategy[179] Future Outlook - The company forecasts a 6% year-on-year growth in national electricity consumption by 2025, reaching approximately 10.4 trillion kWh[113] - The company aims to achieve a power generation target of 79.986 billion kWh and total revenue of 42.982 billion CNY for 2025[118] - The company plans to enhance operational quality by focusing on cost per kWh and profit per kWh, improving marketing capabilities, and optimizing fuel management[118]