JSNE(SH:603693)2022-08-29 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2022, representing a year-on-year increase of 15%[18]. - The company's operating revenue for the first half of 2022 was CNY 1,086,604,551.73, representing a 13.56% increase compared to the same period last year[25]. - The net profit attributable to shareholders for the same period was CNY 305,193,007.77, showing a slight increase of 1.02% year-on-year[25]. - The net cash flow from operating activities reached CNY 419,660,754.46, which is a 15.73% increase compared to the previous year[25]. - The company's gross profit margin was 55.31%, an increase of 1.34 percentage points compared to the same period last year[54]. - The total profit amounted to 442,892,709.47, an increase from 411,490,410.65 in the previous period, reflecting a growth of approximately 0.98%[200]. - Net profit reached 380,103,776.68, compared to 355,243,613.18 in the prior period, indicating an increase of about 7.0%[200]. - The net profit attributable to shareholders of the parent company was 305,193,007.77, up from 302,125,098.13, showing a slight increase of 1.0%[200]. Operational Capacity and Performance - The installed capacity of renewable energy projects reached 2,500 MW, with a utilization rate of 85% during the reporting period[18]. - The average utilization hours for wind power generation were reported at 1,200 hours, indicating stable operational performance[18]. - The installed capacity of the company reached 1.55 million kilowatts, with an equity capacity of 1.31 million kilowatts as of June 30, 2022[34]. - The total power generation in the first half of the year was 28.2345 billion kWh, with new energy generation accounting for 16.24% of the total[48]. - Wind power generation increased by 28.61% year-on-year to 2.6751 billion kWh, while solar power generation rose by 29.75% to 1.2584 billion kWh[48]. Market Expansion and Development Plans - The company plans to expand its market presence by entering three new provinces by the end of 2023[18]. - The company aims to achieve a 25% growth in revenue for the full year 2022, driven by new project launches and market expansion[18]. - The company plans to achieve a total installed capacity of 7.55 million kW by the end of the 14th Five-Year Plan, including projects under construction and in preliminary stages[56]. - The company is actively preparing for the approval of a 850,000 kW offshore wind power project and has initiated construction on a 70 MW solar project in Shanxi[56]. Research and Development - Research and development expenses increased by 20% compared to the previous year, focusing on solar and wind energy technologies[18]. - Research and development expenses decreased to ¥51,667.81 from ¥1,118,264.66, indicating a reduction in R&D investment[197]. Environmental and Social Responsibility - The company maintains a strong commitment to environmental and social responsibility in its operations[18]. - The company’s biomass power generation subsidiaries are classified as key pollutant discharge units, complying with national standards for pollutant emissions[111]. - The total emissions of sulfur dioxide (SO₂) from Huai'an biomass power plant were 7.283 tons, with a concentration of 1.18 mg/m³, below the standard of 50 mg/m³[112]. - The company has established pollution prevention facilities in accordance with national and local requirements, ensuring compliance with emission standards[114]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[119]. Financial Management and Risks - The company has no plans for profit distribution or capital increase through reserves for this reporting period[6]. - The company is facing risks related to delayed renewable energy price subsidies, which could negatively impact cash flow and investment returns[83]. - The company plans to strengthen fund management and broaden financing channels to ensure sufficient capital for new project investments and operations[87]. - The company acknowledges the potential impact of changes in national policies on the renewable energy sector, which could adversely affect its operating performance[87]. Shareholder and Corporate Governance - The company’s board of directors underwent changes, with Zhu Yousheng elected as the new chairman following the retirement of Xu Guoqun[104]. - The company held its annual general meeting on June 20, 2022, approving 11 proposals without any dissenting votes[101]. - The company guarantees the independence of Jiangsu New Energy in terms of business, assets, finance, personnel, and institutions post-restructuring[128]. - The company will ensure compliance with laws and regulations regarding related party transactions and avoid any economic entities that may compete with Jiangsu New Energy[137].