GDEP(SH:600310)2023-03-23 16:00Financial Performance - The net profit attributable to the listed company for 2022 was -223,021,349.12 CNY, indicating a loss for the year[6]. - The company's operating revenue for 2022 was approximately ¥17.43 billion, representing a year-on-year increase of 1.73% compared to ¥17.14 billion in 2021[23]. - The net profit attributable to shareholders of the listed company for 2022 was a loss of approximately ¥223 million, a decrease of 386.24% compared to a profit of ¥78 million in 2021[23]. - The basic earnings per share for 2022 was -¥0.1522, a decrease of 311.39% from ¥0.0720 in 2021[24]. - The weighted average return on equity for 2022 was -7.15%, down 10.33 percentage points from 3.18% in 2021[24]. - The company reported a net profit of CNY -150.68 million, a decrease of 252.99% year-on-year[47]. - The company reported a significant increase in thermal power generation by 17.20% year-on-year, reaching 2,799,246 MWh[80]. - The company reported a total revenue of 679.47 million, reflecting a significant performance in the fiscal year[150]. Dividends and Profit Distribution - The board of directors proposed not to implement cash dividends or capital reserve transfers for the year 2022[6]. - The company’s board of directors has not adjusted the cash dividend policy for 2022, maintaining compliance with company regulations and protecting minority shareholders' rights[178]. - The company implemented a profit distribution plan for 2021, distributing cash dividends of CNY 0.02 per share and transferring 0.2 shares from capital reserves, totaling CNY 24,428,512.04 in cash dividends and 244,285,120 shares transferred[177]. Audit and Compliance - The company has received an unqualified audit report with emphasis on matters related to going concern uncertainties[5]. - The company confirmed that its internal control over financial reporting was effective and compliant with relevant regulations[165]. - The internal control audit report issued by DaXin Accounting Firm confirmed that the company maintained effective internal controls over financial reporting[185]. - The audit committee held ten meetings during the reporting period, reviewing the 2021 financial statements and confirming compliance with accounting standards[164]. Risk Management - The company has detailed risk descriptions in the management discussion and analysis section of the report[9]. - The company faces operational risks due to reliance on hydropower, which is significantly affected by weather conditions and water inflow, potentially leading to increased costs from purchasing electricity if generation is insufficient[136]. - Industry competition risks are heightened by ongoing reforms in the electricity market, leading to uncertainties in sales volume and pricing, with the company under pressure from competitors with established advantages[137]. - The company plans to enhance investment project supervision and risk management to ensure external investments yield expected benefits[139]. Operational Highlights - The company’s hydropower plants achieved a total electricity generation of 6.691 billion kWh in 2022, representing a year-on-year increase of 14.78%[34]. - The company completed the construction of four hydropower stations, enhancing remote control capabilities and significantly improving generation efficiency[37]. - The company has initiated the construction of several 110kV substations to improve power supply capacity[35]. - The company has made progress in digital transformation, enhancing the automation and intelligence of its power grid operations[37]. Environmental and Social Responsibility - The company invested 4.6392 million yuan in environmental protection during the reporting period[188]. - The company reduced carbon emissions by 104,603 tons through energy-saving measures and ongoing projects[198]. - The company’s fish breeding station has released approximately 6.5 million fish, contributing to ecological restoration[197]. - The total investment in rural revitalization projects for 2022 amounted to 24.345 million yuan[200]. Governance and Management - The company has established a governance structure that protects the rights of all shareholders, particularly minority shareholders, ensuring transparency in decision-making processes[141]. - The board of directors has held 10 meetings during the reporting period, adhering to legal requirements and maintaining independent operations[142]. - The company is committed to improving performance evaluation and incentive mechanisms to enhance effectiveness and motivation[142]. - The company has established a compliance committee within the board of directors[160]. Future Outlook - The planned power generation for 2023 is 74.44 billion kWh, with a projected increase of 10.75% in financial sales volume compared to 2022[135]. - The planned operating revenue for 2023 is 163.32 billion yuan, a decrease of 6.33% compared to the previous year[135]. - The company aims to focus on the electricity main business and multi-energy complementary strategies to enhance operational efficiency and asset quality[131]. - Future guidance indicates a projected revenue growth of approximately 15% for the next fiscal year, driven by new project developments and technological advancements[153].