Financial Performance - For the first half of 2022, the operating revenue decreased by 0.66% year-on-year to RMB 36,622.09 million[5]. - Net profit attributable to shareholders increased by 7.39% year-on-year to RMB 5,904.50 million[5]. - Operating revenue for the first half of 2022 was RMB 36,622,093.48 thousand, a decrease of 0.7% compared to RMB 36,865,672.29 thousand in the same period of 2021[19]. - EBITDA margin improved to 52.3% in the first half of 2022, up from 51.2% in the same period of 2021[18]. - Net profit attributable to shareholders increased by 7.4% to RMB 5,904,498.33 thousand, compared to RMB 5,498,143.47 thousand in the first half of 2021[19]. - Total comprehensive income for the first half of 2022 was RMB 9.20 billion, an increase of 6.16% compared to RMB 8.67 billion in the same period of 2021[134]. - Basic and diluted earnings per share improved to RMB 0.117, up from RMB 0.109 in the previous year[134]. - Investment income rose significantly to RMB 4.24 billion, compared to RMB 1.90 billion in the same period of 2021, marking a growth of 123.06%[136]. Operational Metrics - The total installed capacity as of June 30, 2022, was 7,180 MW, with a total of 26 operational units[6]. - The total electricity generated (including joint ventures) was 74,515.61 GWh, a decrease of 5.76% compared to the same period in 2021[6]. - Total electricity generated by the company's nuclear power stations was 92,835.27 GWh, a decrease of 2.51% compared to 95,226.50 GWh in the same period of 2021[50]. - The average capacity factor of the 26 operating units was 87.88%, down from 89.57% in the first half of 2021[55]. - The average load factor for the same period was 80.34%, compared to 86.55% in the previous year[55]. - The average operating hours for the units in the first half of 2022 were 3,490 hours, a decrease from 3,726 hours in the first half of 2021[55]. Financial Position - The total assets as of June 30, 2022, amounted to RMB 404,084.54 million, an increase from RMB 400,032.87 million at the end of 2021[9]. - The total liabilities as of June 30, 2022, were RMB 250,616.23 million, compared to RMB 249,082.58 million at the end of 2021[9]. - The debt-to-asset ratio was 62.0%, slightly improved from 62.3% at the end of 2021[18]. - The total current assets as of June 30, 2022, amount to RMB 69,821,814,668.98, an increase from RMB 67,966,150,830.45 as of December 31, 2021[126]. - Cash and cash equivalents are reported at RMB 18,837,507,511.19, up from RMB 15,827,729,811.43 year-over-year[126]. - Total liabilities increased to RMB 250.62 billion as of June 30, 2022, compared to RMB 249.08 billion at the end of 2021, reflecting a growth of 0.62%[127]. Shareholder Information - The company plans to maintain a dividend payout ratio of no less than 30% of the net profit attributable to shareholders for future distributions[11]. - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2022[12]. - The company has a total of 279,232 registered shareholders as of June 30, 2022[10]. - The total remuneration for directors, supervisors, and senior management for the six months ended June 30, 2022, is approximately RMB 12.04 million, while total employee costs amount to approximately RMB 4,836.44 million (excluding joint ventures)[111]. Safety and Compliance - The company emphasizes safety as a top priority, achieving zero infections among staff at nuclear power bases during the pandemic[47]. - The company maintained a good safety record, with no Level 2 or above nuclear incidents reported[49]. - The company conducted joint emergency drills to ensure effective emergency response capabilities[48]. - The company continues to enhance its safety management system and promote a culture of nuclear safety among all employees[48]. - The company has not faced any administrative penalties or criticisms during the reporting period, ensuring compliance with regulatory requirements[98]. Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[17]. - The company actively participates in market trading as the electricity market reform progresses, aiming for better trading prices and larger market shares[45]. - The company recognizes the strategic opportunity in the nuclear power industry as the country continues to promote nuclear energy development policies[43]. - The company is actively exploring new technologies and models for comprehensive nuclear energy utilization, aiming to enhance market competitiveness and support the development of its nuclear power business[74]. Cash Flow and Investment Activities - The net cash inflow from operating activities for the first half of 2022 was RMB 12,936.52 million, down by RMB 2,798.96 million or 17.79% year-on-year[26]. - The company reported a net cash outflow from investment activities of RMB 4,417.71 million, a decrease of RMB 652.38 million or 12.87% compared to the same period in 2021[26]. - Cash inflow from financing activities increased significantly to RMB 46,659,269,957.51, up 56.7% from RMB 29,772,926,197.91 in the previous year[139]. - Cash outflow for financing activities totaled RMB 51,611,270,336.00, compared to RMB 36,577,760,496.01 in the same period last year, indicating a rise of 41.1%[139]. Corporate Governance - The company has maintained high levels of corporate governance, complying with the corporate governance code and ensuring shareholder rights are protected[94]. - The company held its annual general meeting and reported on its 2021 operating performance and the first quarter of 2022, addressing shareholder concerns[97]. - The company appointed a new supervisor with extensive experience in financial management and corporate governance[104]. - The company has established an Audit and Risk Management Committee, which reviewed and confirmed the interim results announcement for the six months ended June 30, 2022[109].
中广核电力(01816) - 2022 - 中期财报