NMHD(SH:600863)2023-08-24 16:00Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2023, reflecting a year-on-year increase of 15%[11]. - The company's operating revenue for the first half of 2023 was CNY 11,098,938,163.70, representing a 1.17% increase compared to the same period last year[17]. - Net profit attributable to shareholders was CNY 1,479,840,090.50, a 26.66% increase year-over-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 1,452,462,798.61, reflecting a 25.34% increase from the previous year[17]. - The company's cash flow from operating activities was CNY 2,654,201,767.21, up 13.55% compared to the same period last year[17]. - Basic earnings per share increased to CNY 0.22, a rise of 29.41% year-over-year[18]. - The weighted average return on equity rose to 9.34%, an increase of 1.34 percentage points compared to the previous year[18]. - The company achieved a net profit from continuing operations for the first half of 2023 of approximately CNY 1.36 billion, an increase from CNY 1.24 billion in the same period of 2022, representing a growth of about 9.8%[123]. - The total comprehensive income for the first half of 2023 is approximately CNY 1.42 billion, compared to CNY 1.31 billion in the first half of 2022, reflecting an increase of about 7.9%[123]. Operational Highlights - The total power generation during the reporting period reached 5.5 million MWh, which is an increase of 10% compared to the same period last year[11]. - The installed capacity of the company stands at 3,000 MW, with a utilization rate of 75% for the reporting period[11]. - Coal production reached 6.7655 million tons, an 88.41% increase year-over-year, while coal sales volume increased by 119.16% to 3.1246 million tons[20]. - The company's total electricity generation reached 28.556 billion kWh, a year-on-year decrease of 1.58%[24]. - The company's heating supply amounted to 10.537 million GJ, showing a year-on-year increase of 11.56%[24]. - The company's coal mine production capacity was approved to increase from 12 million tons per year to 15 million tons per year[24]. - The company is actively pursuing new energy projects, with 1.07 million kW of renewable energy projects approved or filed[28]. - The company has a wind power installed capacity of 1.3762 million kW and a solar power capacity of 70,000 kW, with 380,000 kW of solar projects under construction[31]. Investment and Development - The company plans to expand its market presence by increasing its renewable energy projects, targeting a 20% growth in renewable capacity by the end of 2024[11]. - The company has invested 200 million CNY in new technology development aimed at improving energy efficiency and reducing emissions[11]. - The company plans to invest approximately RMB 457.52 million to increase its stake in a subsidiary for a new 2 million kW wind and solar project[35]. - The company is in the process of acquiring 81.25% equity in Northern Longyuan Wind Power, with ongoing land and property rights certification for 36,411 square meters of land and 19,809.54 square meters of buildings[78]. - The company received approval for the 600 MW wind power project, which is part of the 1.2 million kW wind power project in the Kubuqi Desert[95]. Risk Management - The management highlighted a focus on risk management related to electricity, coal, and environmental regulations, with proactive measures in place[5]. - The company has not faced any major risks that could materially impact its operations during the reporting period[5]. - The company faces risks from the electricity market due to the push for a new energy system, which may lead to a decline in coal-fired power generation[51]. - The company is closely monitoring national policies and electricity market reforms to adapt pricing strategies and mitigate market risks[52]. Environmental Compliance - The company has established compliance with environmental regulations across its power generation units, ensuring lawful operations[62]. - The company’s coal-fired units have achieved ultra-low emissions, positioning them as industry leaders in the region[71]. - The company has implemented comprehensive safety management measures, achieving over 300 days of continuous operation for 7 units[34]. - The company has established emergency response plans for various environmental incidents, ensuring preparedness for potential pollution events[66]. Financial Health - The company has maintained an "AAA" credit rating, indicating strong financial health and access to capital markets[33]. - The company's total assets at the end of the reporting period were CNY 41,106,965,630.29, a 2.37% increase from the end of the previous year[17]. - The net assets attributable to shareholders increased to CNY 18,066,528,315.35, reflecting a 3.86% increase year-over-year[17]. - The company's long-term equity investments amounted to CNY 1.82 billion, a decrease of 3.35% compared to CNY 1.88 billion in the previous period, primarily due to dividends declared by associates[41]. - The company has maintained its ability to continue as a going concern for at least 12 months from the reporting date[147]. Shareholder Relations - The company has established a communication mechanism with minority shareholders to gather suggestions regarding profit distribution and policy changes[81]. - The company plans to distribute at least 70% of the annual distributable profit as cash dividends from 2022 to 2024, with a minimum dividend of RMB 0.1 per share (including tax) each year[80]. - The company did not propose any profit distribution or capital reserve transfer plans for the reporting period[59]. Research and Development - Research and development expenses increased by 110.97% to RMB 14.81 million, reflecting a commitment to innovation[38]. - The company reported a 110.97% increase in R&D expenses, totaling 14.81 million yuan in the first half of 2023[71].