BJP(SH:600578)2025-04-25 09:30Dividend Distribution - The company plans to distribute a dividend of 1.20 RMB per 10 shares for the fiscal year 2024, based on a total share capital of 6,694,621,015 shares [4]. - The company will carry forward the remaining undistributed profits to the next fiscal year after the profit distribution [4]. - The company has maintained a cash dividend policy, distributing at least 40% of the distributable profit as cash dividends when profitable [142]. - The company plans to distribute cash dividends amounting to at least 70% of the distributable profits in the upcoming three years (2023-2025), provided that it is profitable and has positive retained earnings [144]. - The company reported a cash dividend amount of 803,354,521.80 RMB, which represents 53.30% of the net profit attributable to ordinary shareholders in the consolidated financial statements [148]. Financial Performance - The company's operating revenue for 2024 reached ¥35.43 billion, a 6.54% increase compared to ¥33.25 billion in 2023 [23]. - Net profit attributable to shareholders for 2024 was ¥1.67 billion, representing a significant increase of 119.35% from ¥760.58 million in 2023 [23]. - The basic earnings per share for 2024 was ¥0.23, up 109.09% from ¥0.11 in 2023 [25]. - The net cash flow from operating activities for 2024 was ¥6.12 billion, a 60.87% increase compared to ¥3.81 billion in 2023 [24]. - Total assets at the end of 2024 amounted to ¥96.93 billion, reflecting a 1.72% increase from ¥95.29 billion in 2023 [24]. - The company reported a weighted average return on equity of 6.84% for 2024, up from 3.45% in 2023 [25]. Risk Management - The company emphasizes risk management and has implemented effective measures for risk control and early warning systems [7]. - The company has highlighted the importance of regular reports and announcements to keep investors informed about potential risks [7]. - The company has established a comprehensive internal control system to ensure effective management and compliance with financial reporting standards [152]. - The company has not encountered any significant internal control deficiencies during the reporting period [152]. Governance and Compliance - The company has established a governance structure that ensures effective decision-making and oversight, holding numerous board and committee meetings throughout the year [106]. - The company has maintained independence from its controlling shareholders and actual controllers, with no significant differences in governance practices [109]. - The company has a structured approach to identifying and analyzing substantive ESG issues, responding to stakeholder expectations [108]. - The company has been recognized for its commitment to ESG, winning the ESG Whale Award as a dual-carbon pioneer in 2024 [108]. Environmental Initiatives - The company is focusing on green transformation and low-carbon development, emphasizing energy efficiency and the use of clean energy [166]. - The company completed the ultra-low emission transformation for all power generation units above 300MW, ensuring compliance with environmental standards [157]. - The carbon emission intensity of power generation decreased by 2.24% compared to 2023, reflecting the company's commitment to reducing carbon emissions [165]. - The company has invested 2.785 billion yuan in renewable energy projects, including wind power, to support regional cooperation and rural revitalization [170]. Strategic Investments - The company completed the acquisition of 51% of Xilin Energy and 100% of Chagan New Energy, which are now included in the consolidated financial statements [189]. - The company plans to invest RMB 762.53 million in the 2 million kW renewable energy delivery base project through its 25% stake in Inner Mongolia Datang International Tokto Power Generation Co., Ltd. The company will allocate RMB 321.92 million in 2024 based on project progress [191]. - The company has approved the acquisition of 51% equity in Beijing Energy Group and 100% equity in Chagan New Energy, enhancing its market position [134]. Research and Development - The company reported a significant increase in research and development expenses, which rose by 29.73% to CNY 124.503 million [58]. - The total research and development expenditure amounted to ¥222.32 million, representing 0.63% of total operating revenue, with 44% of the R&D costs capitalized [69]. - The company is investing $50 million in R&D for new technologies aimed at enhancing operational efficiency [114]. Leadership and Management - The company appointed Mr. Wang Zhiqiang as an independent director of the eighth board of directors, replacing Mr. Cui Hongming [116]. - The company reported a significant leadership change with the resignation of Mr. Sui Xiaofeng as chairman and vice president of Beijing Energy Group Co., Ltd. on April 30, 2024 [117]. - The leadership team includes professionals with extensive experience in energy investment and management, ensuring informed decision-making [118]. Customer and Market Engagement - The company aims to increase electricity sales and improve electricity prices to maximize generation revenue and policy compensation [84]. - The company is focusing on enhancing marketing systems and strengthening cooperation with key strategic users [84]. - Customer satisfaction ratings improved by 15%, reflecting the success of recent service enhancements [115].