NMHD(SH:600863)2022-08-24 16:00Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2022, reflecting a year-on-year increase of 15%[11]. - The net profit attributable to shareholders reached 300 million CNY, representing a growth of 20% compared to the same period last year[11]. - The company's operating revenue for the first half of the year reached ¥10,970,712,179.51, a 33.94% increase compared to ¥8,190,910,397.00 in the same period last year[16]. - Net profit attributable to shareholders was ¥1,166,461,592.16, representing a significant increase of 142.01% from ¥481,991,043.00 year-on-year[16]. - The basic earnings per share rose to ¥0.17, up 142.86% from ¥0.07 in the previous year[17]. - The company generated a net cash flow from operating activities of ¥2,337,393,523.00, a 64.32% increase from ¥1,422,463,926.60 year-on-year[16]. - The company's total comprehensive income for the first half of 2022 was CNY 1,576,738,752.80, compared to CNY 214,303,290.74 in the same period last year, reflecting a growth of about 638%[119]. - The total profit for the first half of 2022 was CNY 1,688,590,372.24, compared to CNY 462,340,723.19 in the previous year, indicating an increase of approximately 264%[118]. Operational Capacity and Production - The total installed capacity of the company is 5,000 MW, with a utilization rate of 85% during the reporting period[11]. - The company completed a total electricity generation of 29.015 billion kWh, marking a 6.68% increase from the same period last year[18]. - The company's coal production was 3.5909 million tons, representing a year-on-year growth of 9.74%[23]. - The average utilization hours for thermal power generation were 2,456 hours, an increase of 50 hours year-on-year[25]. - The company's controllable installed capacity reached 12.8462 million kW, and equity installed capacity was 15.6244 million kW, maintaining a high market share in the Inner Mongolia power market[29]. Renewable Energy Initiatives - The company plans to expand its market presence by increasing its renewable energy projects, targeting a 30% increase in renewable capacity by 2025[11]. - The company plans to accelerate the development of renewable energy projects, with a new subsidiary established to manage a 380,000 kW flexible energy project[25]. - The company increased its wind power installed capacity to 1.3762 million kW and solar power capacity to 70,000 kW, enhancing its renewable energy proportion[29]. - The company has initiated research and development for new energy technologies, with an investment of 50 million CNY allocated for 2022[11]. Environmental and Regulatory Compliance - The management emphasized a focus on environmental protection and compliance with regulations in the energy sector[5]. - The company has completed ultra-low emission transformations for all its units, enhancing its environmental protection efforts[52]. - The company established pollution control facilities, achieving a dust removal efficiency of 99.95% and a desulfurization efficiency of 99.05%[68]. - The company has developed emergency response plans for various environmental incidents, ensuring preparedness for potential pollution events[64]. - The company’s subsidiaries have all obtained pollution discharge permits and are operating in compliance with environmental regulations[61]. Financial Position and Investments - The company maintains a strong financial position with no non-operational fund occupation by controlling shareholders[4]. - The company received a special loan of 330 million RMB at a rate of 2.05% for clean and efficient coal utilization, marking the lowest financing rate in Inner Mongolia in recent years[31]. - The company’s total current assets reached approximately ¥6.83 billion, an increase from ¥5.73 billion at the end of the previous year[110]. - The company’s long-term equity investments increased to approximately ¥1.86 billion, up from ¥1.75 billion, indicating growth in investment activities[110]. - The company reported a significant increase in undistributed profits to CNY 3,450,399,043.42 from CNY 2,996,392,995.04, representing a growth of approximately 15.1%[112]. Risks and Challenges - There were no significant risks identified that could materially affect the company's operations during the reporting period[5]. - The company faces risks related to the transition to clean energy, which may negatively impact traditional coal-fired power generation due to stricter policies and market competition[49]. - The company’s coal power generation capacity is expected to be affected by the implementation of the "dual control" energy policy, limiting coal consumption in certain regions[49]. Shareholder and Corporate Governance - The company has no plans for profit distribution or capital increase through reserves for this reporting period[3]. - The largest shareholder, Northern United Power Group Co., Ltd., holds 3,305,473,803 shares, representing 50.64% of the total shares[96]. - The company has appointed a new chairman of the supervisory board following the resignation of the previous chairman[58]. - Northern Company commits to fair pricing and transparency in related party transactions, adhering to legal and regulatory requirements[78]. Future Outlook - Future outlook includes continued investment in technology and market expansion strategies to sustain growth momentum[116]. - The company aims to enhance its operational management and expand its clean energy offerings in line with national carbon neutrality goals[27].