2022-07-26 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 116.87 billion, an increase of 22.68% compared to CNY 95.26 billion in the same period last year[19]. - The net profit attributable to shareholders decreased by 167.60% to a loss of CNY 3.01 billion, compared to a profit of CNY 4.45 billion in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 194.97% to a loss of CNY 3.83 billion, down from a profit of CNY 4.04 billion[19]. - Basic earnings per share decreased by 218.18% to -CNY 0.26, compared to CNY 0.22 in the same period last year[20]. - The weighted average return on net assets dropped to -7.35%, a decrease of 11.89 percentage points from 4.54% in the previous year[20]. - The company's net profit attributable to shareholders for the first half of 2022 was -3.01 billion RMB, a decrease of 167.60% compared to the same period last year[32]. - The operating revenue for the first half of 2022 reached 116.87 billion RMB, an increase of 22.68% year-on-year[32]. - The company’s financial expenses increased by 16.15% year-on-year to 4.86 billion RMB, while R&D expenses surged by 129.67% to 279 million RMB[44][47]. - The company reported a total revenue of RMB 16,055,513,447 from sales and services, up from RMB 15,851,607,616 in the first half of 2021[147]. - The company reported a total comprehensive income for the first half of 2022 was a loss of RMB 3.95 billion, compared to a profit of RMB 5.63 billion in the same period of 2021[139]. Cash Flow and Investments - The net cash flow from operating activities was CNY 20.09 billion, an increase of 4.25% compared to CNY 19.27 billion in the same period last year[19]. - Net cash outflow from investing activities decreased by 12.78% year-on-year, mainly due to a decline in large and medium-sized infrastructure expenditures[48]. - Cash inflow from financing activities totaled RMB 63,445,254,379, an increase from RMB 54,482,000,000 in the first half of 2021[148]. - The net cash flow from financing activities was RMB 695,301,724, a recovery from a negative RMB (2,001,473,150) in the same period last year[148]. - The company’s total cash inflow from operating activities was RMB 137.59 billion, an increase from RMB 104.94 billion in the first half of 2021[144]. Operational Highlights - The average on-grid settlement price for operating power plants in China was 505.69 RMB/MWh, up 20.70% year-on-year[32]. - The cumulative on-grid electricity generated by the company's power plants in China was 196.54 billion kWh, a decrease of 5.61% year-on-year[32]. - The average utilization hours for domestic power plants were 1,760 hours, a decrease of 220 hours year-on-year[32]. - The cumulative heat supply completed was 1.78 million GJ, an increase of 8.61% year-on-year[32]. - The company added 3,504 MW of controllable power generation capacity in the first half of 2022, with low-carbon clean energy capacity accounting for 3,154 MW, increasing its proportion by 3.26 percentage points year-on-year[34]. Environmental and Sustainability Efforts - The company has established a carbon trading management system and successfully completed its first compliance task in the national carbon market[70]. - The company is committed to enhancing its clean energy ratio and optimizing its installed capacity structure in response to the "dual carbon" goals[67]. - The company has implemented advanced flue gas purification systems in new coal-fired power plants, complying with local environmental regulations[71]. - The company is actively improving wastewater treatment systems and constructing closed facilities for coal storage to mitigate environmental risks[71]. - The company has maintained a strong focus on reducing emissions, with several plants reporting SO2 levels significantly below the regulatory limits[78]. Risk Management - The company emphasized that the significant decrease in profits was primarily due to a substantial increase in fuel costs driven by rising fuel prices[21]. - The company remains focused on risk management and has implemented effective measures to address potential risks[8]. - The company faces significant pressure from high coal prices and supply uncertainties, with a focus on increasing long-term coal contract coverage to stabilize procurement costs[69]. - The company is actively monitoring coal market changes and national policies to ensure stable coal supply and pricing amid ongoing market volatility[69]. Shareholder and Corporate Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - The company has a long-term commitment to avoid competition with its controlling shareholder, ensuring operational integrity[93]. - The company has no significant litigation or arbitration matters during the reporting period[95]. - The company has a priority selection right for power development projects from its controlling shareholder, ensuring strategic alignment[93]. Future Outlook - The company expects a significant recovery in electricity demand, projecting a 7.0% growth in total electricity consumption for the second half of 2022[31]. - The company anticipates a recovery in electricity demand in the second half of 2022, driven by national economic policies, despite ongoing risks from localized COVID-19 outbreaks[66]. - The company plans to strengthen capital operations and innovate financing tools to accelerate capital turnover[72]. - The company is exploring potential mergers and acquisitions to strengthen its market position[123].