HDPI(SH:600027)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was RMB 107,058,536 thousand, representing a 2.34% increase compared to RMB 104,607,537 thousand in 2021[18]. - The net profit attributable to shareholders of the listed company was RMB 99,811 thousand, a significant recovery from a loss of RMB 4,982,427 thousand in 2021[18]. - The net cash flow generated from operating activities was RMB 9,654,498 thousand, compared to a negative cash flow of RMB 6,401,362 thousand in the previous year[18]. - The total assets of the company at the end of 2022 were RMB 223,262,351 thousand, reflecting a 1.97% increase from RMB 218,938,578 thousand in 2021[18]. - The net assets attributable to shareholders of the listed company decreased by 3.88% to RMB 59,513,957 thousand from RMB 61,915,663 thousand in 2021[18]. - The basic earnings per share for 2022 was -0.08 CNY, compared to -0.61 CNY in 2021, indicating a significant improvement[19]. - The weighted average return on equity increased by 11.58 percentage points to -2.12% in 2022 from -13.70% in 2021[19]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, amounting to a loss of RMB 576,237 thousand in 2022[18]. - The total operating cost for 2022 was approximately RMB 106.599 billion, a decrease of 4.04% year-on-year[36]. - The company's fuel costs amounted to approximately RMB 82.866 billion, reflecting a year-on-year increase of about 9.09% due to rising coal and natural gas prices[38]. Operational Highlights - In 2022, the company's total electricity generation reached 220.932 billion kWh, a year-on-year increase of approximately 0.54%[27]. - The company completed a total installed capacity of approximately 54,754.24 MW, including 43,700 MW of coal-fired power, 8,589.05 MW of gas-fired power, and 2,459 MW of hydropower[31]. - The company's total electricity generation for 2022 was 220.932 billion kWh, a decrease of 5.25% compared to 2021's 233.171 billion kWh[53]. - The company's thermal power generation was 211.190 billion kWh, a decrease of 2.78% year-on-year[54]. - The company's hydroelectric power generation was 9.742 billion kWh, a slight decrease of 0.33% compared to the previous year[54]. - The company's wind and solar power generation was effectively zero, reflecting a 100% decrease year-on-year due to asset integration and sales[54]. - The average on-grid electricity price for the company was RMB 519.25 per MWh for the year[53]. - The company reported a total sales volume of 207.045 billion kWh, down 5.54% from the previous year[54]. Investment and Capital Expenditure - The company invested approximately 1,401.69 MW in new power generation projects during 2022, including 1,340 MW of coal-fired and 56 MW of hydropower[28]. - Capital expenditures for infrastructure investment amounted to approximately RMB 94.44 billion, with additional funds allocated for technical upgrades and environmental improvements[64]. - The company plans to invest approximately CNY 13 billion in 2023 for power generation projects, environmental protection, and energy-saving technology upgrades[77]. Environmental and Social Responsibility - The company invested CNY 664 million in environmental protection during the reporting period[135]. - The company emitted approximately 12,888 tons of sulfur dioxide, with an average emission intensity of 0.07 grams per kilowatt-hour[136]. - The company emitted approximately 22,300 tons of nitrogen oxides, with an average emission intensity of 0.12 grams per kilowatt-hour[136]. - The company emitted approximately 1,178 tons of particulate matter, with an average emission intensity of 0.01 grams per kilowatt-hour[136]. - The company discharged approximately 17.99 million tons of wastewater, of which about 6.5 million tons were sent to sewage treatment plants[136]. - The company has completed ultra-low emission renovations for all coal-fired power generation units[137]. - The company has achieved zero wastewater discharge in some power plants[144]. - The company has maintained a 100% treatment rate for hazardous waste, ensuring environmental responsibility[144]. Governance and Compliance - The company emphasizes transparency in information disclosure, utilizing various channels to communicate with investors[91]. - The company has established an independent financial department and accounting system to ensure autonomous financial decision-making[94]. - The board of directors consists of 12 members, including 4 independent directors, meeting legal requirements for governance structure[87]. - The company has a structured governance framework with independent directors and supervisory boards to oversee operations[95]. - The company is committed to maintaining a clear separation between its operations and those of its controlling shareholder[96]. - The company has established a three-tier internal control assessment mechanism to enhance the efficiency of internal control operations[84]. Future Outlook - The company expects to achieve an electricity generation of approximately 220 billion kWh in 2023, maintaining stable utilization hours for power generation equipment[77]. - The average annual growth rate of electricity generation is projected to be between 4.3% and 5.2% during the 14th Five-Year Plan period, providing predictable market opportunities for power companies[74]. - The company anticipates a 6% increase in national electricity consumption in 2023, reaching approximately 9.15 trillion kWh[75]. - The company aims to enhance profitability by strengthening operational analysis and monitoring economic performance to meet annual operational targets[77]. Shareholder and Financial Relationships - The largest shareholder, China Huadian Corporation, holds 4,620,061,224 shares, representing 46.81% of total shares[176]. - The company maintains a strong financial relationship with its controlling shareholder, China Huadian, with a year-end balance of RMB 5.746 billion in funds provided[163]. - The company has issued two tranches of corporate bonds in 2022, with a total amount of 35 billion RMB, at interest rates of 3.65% and 2.49% respectively[183]. - The company has not faced any penalties from securities regulatory agencies in the past three years[109].