HEGC(000883)2025-04-24 14:06Financial Performance - The company's operating revenue for 2024 reached ¥20,030,698,490.80, representing a 7.30% increase compared to ¥18,668,672,883.26 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥1,814,078,574.64, a 3.75% increase from ¥1,748,537,086.80 in 2023[6]. - The net cash flow from operating activities significantly increased by 96.95% to ¥6,432,044,580.01 in 2024, compared to ¥3,265,777,744.18 in 2023[6]. - Total assets at the end of 2024 were ¥98,280,544,637.28, up 7.66% from ¥91,290,338,313.36 at the end of 2023[6]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching ¥1,751,314,395.00, a 3.19% increase from ¥1,697,223,249.83 in 2023[6]. - The company achieved operating revenue of 20.03 billion yuan, an increase of 1.36 billion yuan or 7.30% year-on-year[46]. - Net profit for 2024 reached 2.22 billion yuan, up by 340 million yuan or 18.10% year-on-year; attributable net profit was 1.81 billion yuan, an increase of 66 million yuan or 3.75% year-on-year[47]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares (including tax) to all shareholders based on the total share capital on the record date for the 2024 profit distribution plan[5]. - The company plans to distribute cash dividends of no less than 30% of the net profit attributable to shareholders for the years 2024-2026, with a proposed dividend of 1.00 yuan per 10 shares for 2024[140]. - The total cash dividend amount is CNY 650,045,252.40, which represents 100% of the profit distribution total[184]. Asset Management and Investments - The company invested a total of approximately ¥8.53 billion in various projects, with a cumulative investment of about ¥12.37 billion as of the report date[102]. - The Jiangling Phase II thermal power expansion project has an investment of ¥879.95 million, with a completion progress of 19.50%[101]. - The company is developing the Yangtze Qingjiang pumped storage power station with an investment of ¥590.57 million, currently at 10.01% completion[101]. - The company has completed the acquisition of subsidiaries, with 100% indirect control established[196]. Operational Performance - The company achieved a total electricity generation of 44.04 billion kWh during the reporting period, representing a year-on-year increase of 23.21%[45]. - The company's controllable installed capacity reached 18.30 million kW by the end of the reporting period, with new energy installed capacity accounting for 6.93 million kW[42]. - The company added 2.63 million kW of controllable installed capacity in 2024, primarily from new energy sources[42]. - The company’s electricity sales business accounted for 88.96% of total revenue, with a total electricity sales volume of 178.19 billion kWh[58]. Research and Development - Research and development expenses amounted to ¥17,702,437.77, attributed to new R&D projects initiated during the period[80]. - R&D investment increased by 30.86% from 13,726,025.06 CNY in 2023 to 17,962,045.32 CNY in 2024[84]. - The number of R&D personnel increased by 47.42%, from 601 in 2023 to 886 in 2024[84]. - The company is currently developing a real-time monitoring system for wind turbine blade strain, which aims to enhance operational reliability and reduce accident risks[82]. Governance and Management - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring independent operation and mutual checks among these bodies[137]. - The company is focusing on enhancing its governance structure with the election of new board members and independent directors[157][159]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 11.18 million yuan[164]. - The company has implemented a performance-based remuneration system for senior management, linked to annual performance evaluations[163]. Market and Industry Outlook - The company anticipates a balanced power supply and demand in Hubei Province, with an expected electricity consumption growth of around 5% by 2025[114]. - The coal market is expected to maintain relative balance and shift towards a looser state by 2025, with slight growth in coal demand anticipated[115]. - The company plans to enhance its research on electricity market policies and strengthen its marketing talent to mitigate risks associated with electricity pricing and consumption[116]. - The company aims to focus on high-quality development, emphasizing clean energy and optimizing coal and gas logistics, while promoting the modernization of the energy industry[119]. Internal Control and Compliance - The company’s internal control system is designed to enhance effectiveness and compliance, with regular self-evaluations conducted[194]. - The internal control audit report received a standard unqualified opinion, indicating no significant deficiencies in non-financial reporting[200]. - There were no significant internal control deficiencies identified during the reporting period[195]. - The company has not established anti-fraud procedures and controls, which is a noted deficiency[198].