GGEP(600236)2025-04-24 14:10Financial Performance - The company achieved a net profit attributable to shareholders of CNY 2,283,438,449.36 in 2024, an increase of 86.26% compared to the previous year[6]. - Total operating revenue for 2024 was CNY 9,598,376,231.50, representing an 18.63% increase from CNY 8,091,005,363.59 in 2023[24]. - The company distributed a cash dividend of CNY 1.20 per 10 shares, totaling CNY 945,885,336.24, which accounts for 70.77% of the net profit attributable to shareholders[6][7]. - The net cash flow from operating activities increased by 37.45% to CNY 5,606,601,895.75 compared to CNY 4,079,048,834.41 in 2023[25]. - The company's total assets reached CNY 50,207,663,327.90 at the end of 2024, a 6.19% increase from CNY 47,279,846,262.92 in 2023[25]. - The net assets attributable to shareholders increased by 3.23% to CNY 18,896,270,139.68 compared to CNY 18,305,870,441.57 at the end of 2023[25]. - The company reported a net profit excluding non-recurring gains and losses of CNY 2,428,267,469.29, up 102.12% from CNY 1,201,416,982.70 in 2023[24]. - Basic earnings per share increased by 91.64% to CNY 0.2775 compared to CNY 0.1448 in 2023[26]. - Diluted earnings per share also rose by 91.64% to CNY 0.2775, consistent with basic earnings per share due to no potential ordinary shares[27]. - The weighted average return on equity increased by 6.42 percentage points to 13.35% from 6.93% in 2023[26]. Operational Highlights - The company reported a significant increase in renewable energy generation, with solar power generation up 104.17% year-on-year[38]. - The company achieved a total power generation of 36.424 billion kWh, a year-on-year increase of 27.77%[38]. - The company's total installed capacity of non-fossil energy generation reached 1.45 billion kW, surpassing that of thermal power for the first time[45]. - The company’s clean energy sources accounted for over 90% of its installed capacity, with hydropower capacity reaching 10,240.4 MW, which is the main source of profit[48]. - The company’s total revenue for the reporting period was 919,698 million RMB, with the top five customers accounting for 93.79% of total sales[65]. - The largest customer, Guangxi Power Grid Co., Ltd., contributed 527,534 million RMB, representing 53.80% of total sales[66]. Strategic Initiatives - The company plans to continue its strategic focus on market expansion and technological innovation in the upcoming year[8]. - The company aims for a total power generation of 40.6 billion kWh and revenue of 10.407 billion yuan in 2025, with a profit target of 3.434 billion yuan[104]. - The company plans to accelerate the development of key projects, including the Longtan Units 8 and 9 and the Hechi "source-network-load-storage" integration project[105]. - The company intends to acquire and merge with quality assets to strengthen its market position[105]. - The company is focusing on enhancing technological innovation and digital transformation as part of its "14th Five-Year" plan[110]. Environmental and Social Responsibility - The company has invested ¥3,750.05 million in environmental protection during the reporting period[165]. - The company achieved zero wastewater discharge and zero wastewater pollutants in 2024, while total exhaust pollutants discharged amounted to 805.47 tons[166]. - The company has reduced carbon emissions by 33,667,233.78 tons through the use of clean energy sources and the construction of wind and solar projects[176]. - Total investment in social responsibility projects for 2024 is CNY 50.997 million, including CNY 43.789 million in funds and CNY 7.208 million in material donations[177]. - The company has implemented a "five-in-one" assistance system focusing on education, industry, livelihood, employment, and party-building support[180]. Governance and Compliance - The company has established a robust internal control system, including a comprehensive risk assessment and management framework[119]. - The company emphasizes transparent information disclosure and investor relations management, ensuring timely and accurate communication with stakeholders[120]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance[136]. - The company has appointed independent directors with a fixed remuneration of 100,000 yuan each for the reporting period[123]. - The company has established a performance evaluation mechanism for its management team, focusing on various operational and financial metrics[158]. Future Outlook - The company expects a nationwide electricity consumption growth of approximately 6% in 2025, reaching 10.4 trillion kWh[96]. - The company forecasts that the total installed power generation capacity will exceed 3.8 billion kW by the end of 2025, with non-fossil energy sources accounting for 60%[98]. - The company aims to maintain a coal consumption rate of ≤321.1 g/kWh, striving for 319.2 g/kWh in 2025[103]. - The company plans to enhance market development efforts, focusing on stabilizing existing capacity while expanding new capacity[106]. - The company targets a controllable power generation completion rate of ≥98.5%, aiming for 99.1%[103].