CYPC(SH:600900)2023-04-27 16:00Financial Performance - The net profit attributable to the parent company for 2022 is CNY 21,309,033,980.94, with a proposed distribution of dividends at CNY 8.533 per 10 shares for eligible shareholders [4]. - The company plans to distribute 100% of the net profit of CNY 20,092,277,840.10 generated from February 1, 2022, to December 31, 2022, to shareholders [4]. - The company reported a net profit of CNY 1,216,756,140.84 for the period from January 1, 2022, to January 31, 2022, which will be retained for future distribution [4]. - The net profit attributable to shareholders for 2022 was CNY 21,309,033,980.94, down 18.89% from CNY 26,272,998,503.24 in 2021 [18]. - The total profit amounted to 26.313 billion RMB, down by 6.096 billion RMB or 18.81% year-on-year [33]. - The company's operating revenue for 2022 was CNY 52,060,482,557.85, a decrease of 6.44% compared to CNY 55,646,253,991.83 in 2021 [18]. - The net cash flow from operating activities for 2022 was CNY 30,912,732,230.12, a decline of 13.49% compared to CNY 35,732,461,733.26 in 2021 [18]. - The basic earnings per share for 2022 was CNY 0.9370, representing an 18.89% decrease from CNY 1.1553 in 2021 [19]. - The total assets at the end of 2022 were CNY 327,268,285,047.33, a slight decrease of 0.39% from CNY 328,563,281,639.20 at the end of 2021 [19]. - The net assets attributable to shareholders increased by 2.44% to CNY 185,488,250,616.82 at the end of 2022, compared to CNY 181,063,819,486.27 at the end of 2021 [18]. Operational Highlights - The company achieved an annual power generation of 185.581 billion kWh, with a water-saving increase in power generation of 8.598 billion kWh, marking the best comprehensive water consumption rate since 2015 [24]. - The company successfully completed the commissioning of all remaining 10 units of the Baihetan Hydropower Station, contributing to the establishment of the world's largest clean energy corridor [24]. - The company’s total installed capacity achieved significant growth following the completion of major asset restructuring, with the restructuring plan approved by the CSRC in October 2022 [25]. - The company’s cumulative daily power generation exceeded 1 billion kWh for 48 days, effectively alleviating power supply tensions in central, eastern, and southern China [24]. - The company achieved a total installed hydropower capacity of 71.795 million kilowatts, with domestic capacity accounting for 17.34% of the national total [29]. Research and Development - The company invested a record high of 674 million yuan in R&D, resulting in the authorization of 373 patents, including 81 invention patents, a threefold increase [25]. - The company’s research and development expenses increased by 127.45% to 89.655 million RMB, compared to 39.417 million RMB in the previous year [34]. - The total research and development investment amounted to 674.02 million yuan, accounting for 1.29% of operating revenue [40]. Environmental and Social Responsibility - The company implemented 58 social responsibility projects with a total donation of 340 million yuan, focusing on comprehensive revitalization in related regions [30]. - The company invested ¥78.2187 million in environmental protection initiatives [120]. - The company produced 185.581 billion kWh of clean electricity in 2022, replacing approximately 55.9527 million tons of standard coal and reducing CO2 emissions by about 15.366 million tons compared to coal-fired power generation [124]. - The company conducted 17 ecological scheduling experiments, the highest number in its history, positively impacting the spawning quantity of the "Four Major Fish" in the Yangtze River [121]. Governance and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting, as confirmed by the audit report from Da Hua Accounting Firm [3]. - The company received an A-class evaluation for information disclosure from the Shanghai Stock Exchange, reflecting its commitment to transparency [79]. - The company has been recognized as a "Demonstration Enterprise of State-owned Enterprise Governance" by the State-owned Assets Supervision and Administration Commission [79]. - The company has established a comprehensive safety management system to address risks associated with complex operational conditions and equipment management [77]. Future Outlook and Strategic Initiatives - The company plans to focus on strategic investments in clean energy and smart integrated energy, while also promoting the construction of the "water-wind-solar-storage" energy base [75]. - The company aims to enhance its marketing strategy by integrating large hydropower with new energy and energy storage solutions [75]. - The company anticipates a tight balance in electricity supply and demand during peak periods in summer and winter [73]. - The company plans to expand its market presence by entering three new provinces in the next fiscal year [93]. Financial Management and Investments - The company has proposed to issue corporate bonds and interbank market debt financing tools to support its financial activities [82]. - The company has a total of 454,837,184 shares held by Changjiang Three Gorges Industrial Development (Beijing) Co., Ltd., a wholly-owned subsidiary, indicating internal consolidation of shares [159]. - The company has engaged multiple financial institutions for bond issuance and management, enhancing its market presence [179]. - The company has a solid track record of timely interest payments on its bonds, ensuring investor confidence [178].