Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 0.2 per share (pre-tax) based on the total share capital as of the profit distribution registration date for all shareholders[5]. - The company will not increase share capital from reserves or issue bonus shares for the fiscal year 2024, pending approval at the shareholders' meeting[5]. - The company has not proposed any capital increase from reserves for the fiscal year 2024[5]. - The board of directors proposed a final dividend of RMB 0.2 per share (pre-tax), totaling approximately RMB 27,869.05 million, subject to shareholder approval at the annual general meeting[127]. - The company has a calculated distributable reserve for dividends of RMB 1,511,674,690.45, with no share premium account available for capitalized dividend distribution[136]. Financial Performance - The company's operating revenue for 2024 is RMB 3,398,572,272.66, a decrease of 14.08% compared to RMB 3,955,548,511.61 in 2023[25]. - Net profit attributable to shareholders for 2024 is RMB 585,082,147.27, down 7.02% from RMB 629,281,357.74 in 2023[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is RMB 578,600,321.04, a decrease of 6.36% from RMB 617,906,499.99 in 2023[25]. - The basic earnings per share decreased by 6.67% to RMB 0.42 in 2024 compared to RMB 0.45 in 2023[26]. - The weighted average return on net assets fell to 7.32% in 2024, down 0.99 percentage points from 8.31% in 2023[26]. - The total comprehensive income attributable to the parent company's shareholders for the reporting period was RMB 585,082,147.27, a decrease from RMB 629,281,357.74 in the same period of 2023, primarily due to a reduction in net profit[124]. Operational Efficiency and Cost Management - The company is focusing on enhancing operational efficiency and reducing costs through increased centralized procurement and financial cost reduction strategies[33]. - The company is actively pursuing cost reduction and efficiency enhancement strategies, including increasing centralized procurement to lower purchasing costs[41]. - The company plans to focus on operational efficiency and cost management to mitigate the impact of declining construction revenue[70]. - The company is committed to enhancing operational efficiency through technology development and facility upgrades to mitigate rising environmental compliance costs[115]. Risk Management and Compliance - The company has outlined several risks in the report, which investors should review in the "Management Discussion and Analysis" section[10]. - The management has confirmed the accuracy and completeness of the financial report, with no false records or significant omissions[8]. - The company has received a standard unqualified audit opinion from the accounting firm[8]. - The report complies with all disclosure requirements set by relevant stock exchange regulations in both mainland China and Hong Kong[10]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties[7]. - The company has not faced any violations regarding decision-making procedures for external guarantees[7]. Technological Innovation and Development - The company aims to deepen technological innovation and strengthen core competitiveness in the waste incineration power generation sector[35]. - The company has successfully conducted green certificate trading for its Changzhou and Zhangqiu Phase II projects[33]. - The company has obtained a total of 80 authorized patents, including 19 invention patents, by the end of 2024, reflecting its commitment to technological innovation[42]. - The company has successfully implemented digital transformation initiatives, including the application of artificial intelligence technology in waste incineration management, leading to improved operational efficiency[42]. Market and Industry Trends - The company is expanding its market presence in economically developed regions such as the Yangtze River Delta and Pearl River Delta, as well as in central and western regions of China[52]. - The national urban waste incineration processing capacity is expected to reach approximately 800,000 tons/day by the end of 2025, with urban waste incineration accounting for about 65% of the total[45]. - The waste-to-energy industry is characterized by high capital intensity and stable waste generation linked to local population levels, minimizing seasonal and cyclical fluctuations[55]. - The market for waste incineration power generation in China is expected to grow, driven by urbanization and supportive policies, with a shift towards refined management of existing projects[110]. Governance and Management - The company has maintained a consistent governance structure with no significant changes in board composition[162]. - The company continues to focus on maintaining transparency and accountability in its governance practices[164]. - The company has appointed PwC as the new auditor effective June 17, 2022, and plans to propose the appointment of Lixin CPA as the auditor for the fiscal year 2024 at the shareholders' meeting on December 20, 2024[144]. - The supervisory board held eight meetings during the year to monitor the company's operations and approved the 2024 financial report, affirming its compliance with accounting standards and regulations[148]. Future Outlook and Strategic Initiatives - The company is focused on improving its operational efficiency and expanding its project portfolio to meet the growing demand for waste management solutions[54]. - The company is negotiating terms in franchise agreements to allow for adjustments in waste processing fees in response to significant policy changes[116]. - The company is actively assessing the quantity and quality of waste provided by local governments to ensure stable supply and operational efficiency[119]. - The company is expanding its revenue sources by developing heating services tailored to local conditions[114].
绿色动力环保(01330) - 2024 - 年度财报