2020-03-31 16:00Financial Performance - The company's operating revenue for 2019 was approximately RMB 173.48 billion, an increase of 2.13% compared to RMB 169.86 billion in 2018[17]. - The net profit attributable to shareholders for 2019 was approximately RMB 1.69 billion, representing a growth of 17.21% from RMB 1.44 billion in 2018[17]. - The net cash flow from operating activities increased by 29.19% to approximately RMB 37.32 billion in 2019, up from RMB 28.89 billion in 2018[18]. - The total assets of the company at the end of 2019 were approximately RMB 413.60 billion, a 2.52% increase from RMB 403.44 billion at the end of 2018[18]. - The net assets attributable to shareholders increased by 18.41% to approximately RMB 98.56 billion at the end of 2019, compared to RMB 83.23 billion at the end of 2018[18]. - The basic earnings per share for 2019 were RMB 0.06, a decrease of 14.29% from RMB 0.07 in 2018[19]. - The weighted average return on equity for 2019 was 1.37%, down 0.51 percentage points from 1.88% in 2018[19]. - The company achieved operating revenue of RMB 173.485 billion for the year, an increase of 2.13% year-on-year, while net profit attributable to shareholders was RMB 1.686 billion, up 17.21% year-on-year[42]. Cash Flow and Investments - The company reported a net cash flow from operating activities of RMB 37.324 billion, an increase of 29.19% year-on-year[43]. - The company experienced a net cash outflow from investment activities of CNY 29.03 billion, a 41.44% increase year-over-year, mainly due to increased spending on clean energy projects[54]. - The company invested CNY 65.02 million in R&D, representing 0.04% of total revenue, with 8,493 R&D personnel making up 14.58% of the total workforce[52]. Market and Operational Strategy - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming fiscal year[22]. - The company has adopted international financial reporting standards, which may lead to differences in asset valuation and profit recognition compared to domestic standards[22]. - The company plans to enhance its operational efficiency and governance to become a first-class international listed power generation company[89]. - The company will focus on digital transformation and the development of smart power plants and industrial internet systems to improve market competitiveness[89]. Environmental and Social Responsibility - The company emphasizes social responsibility, ensuring stable power supply during critical periods with emergency plans in place[139]. - All power plants have installed desulfurization, denitrification, and dust removal facilities, meeting national pollution discharge standards[140]. - The company is committed to sustainable development and actively participates in global energy governance, contributing to the Belt and Road Initiative[139]. - The company has established a strong collaborative effort with local governments to address regional poverty issues[132]. Governance and Management - The company maintains a robust governance structure, ensuring balanced decision-making and operational efficiency[37]. - The company has established a modern governance structure that includes a general meeting of shareholders, a board of directors, a supervisory board, and an executive team, ensuring clear responsibilities and effective operation[186]. - The company has committed to avoiding competition with its controlling shareholder, ensuring priority in the development of power projects[101]. Future Outlook - The company expects national electricity consumption to grow by 4%-5% in 2020, with non-fossil energy generation capacity continuing to increase[30]. - The company aims to achieve an electricity generation volume of around 410 billion kilowatt-hours in 2020, with an average utilization hour of approximately 3,800 hours[90]. - The company plans to continue fulfilling its commitments to support the development of its listed subsidiaries[102]. Shareholder Information - The company has established a cash dividend policy, distributing at least 70% of the annual distributable profit in cash, with a minimum dividend of 0.1 RMB per share[98]. - In 2019, the company distributed a cash dividend of 2,119,242,603 RMB, which accounted for 88.14% of the net profit attributable to ordinary shareholders[99]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 9.644 million yuan (pre-tax)[176]. Risk Management - The company emphasizes risk management, focusing on power market, environmental protection, coal procurement, and interest rate changes for 2020[6]. - The company faces risks from a potential slowdown in electricity demand growth, with the 2020 growth rate expected to be in the range of 4%-5%[92]. - Environmental risks include the possibility of temporary exceedances in emissions due to equipment failures, despite compliance with national standards[93].