TEC(SH:600780)2025-04-24 12:35Financial Performance - The company's net profit attributable to shareholders for 2024 is RMB 512.67 million, a decrease of 24.58% compared to RMB 679.78 million in 2023[6]. - Operating revenue for 2024 is RMB 10.83 billion, down 0.53% from RMB 10.89 billion in 2023[21]. - The basic earnings per share for 2024 is RMB 0.4472, a decline of 24.57% from RMB 0.5929 in 2023[22]. - The net profit attributable to the parent company was 513 million RMB, a decrease of 24.58% year-on-year, with basic earnings per share of 0.4472 RMB, down 24.57%[50]. - The company's total revenue for the 2024 fiscal year was 201,082.39 million RMB, which is a decrease from the expected 225,433 million RMB due to reduced electricity sales[162]. Assets and Liabilities - The total assets of the company at the end of 2024 amount to RMB 10.54 billion, an increase of 3.46% from RMB 10.18 billion in 2023[21]. - The company's net assets attributable to shareholders at the end of 2024 are RMB 7.69 billion, an increase of 4.66% from RMB 7.35 billion in 2023[21]. - The total liabilities amounted to CNY 2,880,949,866.40 in 2024, slightly up from CNY 2,869,694,645.15 in 2023, indicating a marginal increase of about 0.4%[197]. - The total equity attributable to shareholders increased to CNY 7,691,509,462.35 in 2024 from CNY 7,348,910,434.09 in 2023, representing a growth of approximately 4.7%[198]. Cash Flow - The net cash flow from operating activities for 2024 is RMB 1.17 billion, an increase of 28.94% from RMB 904.01 million in 2023[21]. - The company maintained a net cash flow from operating activities of 1.166 billion RMB, an increase of 28.94% year-on-year[55]. - The company's cash dividend policy remains unchanged, aligning with the regulations set by the China Securities Regulatory Commission[131]. Clean Energy Initiatives - The company plans to retain undistributed profits for the development of new clean energy projects, including wind and solar power[6]. - The company has established 9 project subsidiaries for its clean energy initiatives, with 8 solar and wind projects already approved by local governments[34]. - The company is advancing its clean energy strategy with 132.05 MW of construction indicators for 11 wind and solar projects, with 4 projects totaling 450 MW already in the investment and construction phase[34]. - The company is committed to enhancing its green transformation strategy, focusing on the integration of coal and renewable energy, and optimizing existing power plants and grids[91]. Operational Performance - The total electricity generation for the year reached 6.177 billion kWh, with market-based trading volume at 5.609 billion kWh and an average on-grid electricity price of 355.50 RMB per MWh[35]. - The company achieved a total electricity sales volume of 19.241 billion kWh, with a monthly sales volume exceeding 2 billion kWh for the first time[35]. - The company's total power generation in 2024 was 6.177 billion kWh, a decrease of 3.86% year-on-year[50]. - The total sales volume of electricity reached 19.241 billion kWh, an increase of 2.22% year-on-year[50]. Research and Development - The company increased its R&D expenses by 166.05% year-on-year, amounting to 2.752 million RMB[55]. - The total research and development expenses amounted to 2,752,414.42 RMB, which is 0.03% of the operating revenue[64]. - The number of R&D personnel accounted for 0.65% of the total workforce, with a total of 28 R&D staff members[65]. Governance and Compliance - The company emphasizes risk prevention and control, ensuring transparency and timely information disclosure to maintain investor confidence[95]. - The company is committed to enhancing its governance structure, ensuring clear responsibilities and compliance with regulations, with no reported violations during the reporting period[101]. - The company has established a governance framework for subsidiaries to ensure compliance and effective management[136]. - The audit committee reviewed the 2023 financial report and confirmed it was prepared in accordance with accounting standards, with no significant misstatements due to fraud or error[121]. Environmental Impact - The company invested RMB 15.37 million in environmental protection during the reporting period[140]. - The company achieved compliance with emission standards, with average emissions of 2.06 mg/m³ for smoke, 19.51 mg/m³ for sulfur dioxide, and 34.93 mg/m³ for nitrogen oxides in 2024[141]. - The company reduced carbon emissions by 58,877 tons during the reporting period through various measures, including strict adherence to local pollution standards[148]. Future Outlook - For 2025, the company plans to increase power generation to 6.304 billion kWh and achieve a revenue of 11.005 billion RMB[92]. - The company aims to improve its energy supply capabilities and support rural electrification initiatives, contributing to local economic development[96]. - The company plans to deepen industrial collaboration and expedite the approval of new renewable energy projects to create new profit growth points[93].