GED(SZ:000539)2023-08-30 16:00Financial Performance - The company's operating revenue for the reporting period reached CNY 28,340,840,884, representing a 25.34% increase compared to the same period last year[15]. - The net profit attributable to shareholders was CNY 856,538,633, a significant turnaround from a loss of CNY 1,375,739,165 in the previous year, marking a 162.44% increase[15]. - The net profit after deducting non-recurring gains and losses was CNY 849,010,727, compared to a loss of CNY 1,399,609,834 in the same period last year, reflecting a 160.83% improvement[15]. - The net cash flow from operating activities was CNY 2,720,370,016, a remarkable increase of 1,405.62% from a negative cash flow of CNY 208,358,510 in the previous year[15]. - Basic earnings per share were CNY 0.1631, a recovery from a loss of CNY 0.2620 per share in the same period last year, indicating a 162.44% increase[15]. - Total assets at the end of the reporting period amounted to CNY 143,012,763,745, an increase of 8.65% from CNY 131,504,274,884 at the end of the previous year[15]. - The net assets attributable to shareholders increased to CNY 21,153,441,131, up 3.95% from CNY 20,241,872,479 at the end of the previous year[15]. - The company achieved a total operating revenue of CNY 2,834,084,000, an increase of CNY 572,960,000, representing a growth of 25.34% year-on-year[19]. - The total on-grid electricity generated reached 53.457 billion kWh, a year-on-year increase of 15.34%[19]. - The average selling price of electricity was CNY 591.86 per MWh, up CNY 49.12 per MWh, reflecting a growth of 9.05%[19]. Investment and Expansion - The company plans to actively expand its renewable energy projects to align with carbon peak and carbon neutrality goals[20]. - The company has established various subsidiaries to enhance its operational capabilities across different regions[6]. - The company added 67,500 kW of new renewable energy capacity in the first half of 2023, all from photovoltaic projects[20]. - The company has a total of 2,589,000 kW of installed renewable energy capacity, including approximately 1,200,000 kW of offshore wind power[20]. - The company is actively pursuing market expansion through the establishment of new energy projects in Xinjiang and other regions[46]. - The total investment amount for the reporting period reached RMB 1,683,063,129, a significant increase of 276.04% compared to RMB 447,571,800 in the same period last year[37]. - The company made a significant equity investment of RMB 995,000,000 in Guangdong Wind Power Co., Ltd., acquiring a 100% stake[38]. - The company also invested RMB 5,000,000 in Yashan Comprehensive Energy Co., Ltd., maintaining a 100% ownership[38]. - The company reported a net profit of CNY 316,152,530 from its subsidiary Guangdong Wind Power Generation Co., which contributed over 10% to the overall net profit[45]. Risk Management - The company emphasizes the importance of risk management and outlines potential risks and countermeasures in the report[3]. - The management discusses future strategies for growth and development in the renewable energy sector[3]. - The company is facing uncertainty in consolidating operational results in the second half of the year due to fluctuating fuel prices[48]. - The company plans to enhance fuel management and optimize procurement structures to improve operational stability[48]. Environmental Compliance - The company complies with all relevant environmental protection laws and has obtained necessary environmental permits[52]. - The total emissions of particulate matter from the Red Sea Bay Company amounted to 59.80 tons, with a concentration of 2.93 mg/Nm³, complying with the emission standards[54]. - The total emissions of sulfur dioxide from the Red Sea Bay Company reached 248.46 tons, with a concentration of 11.19 mg/Nm³, adhering to the pollution discharge standards[54]. - The nitrogen oxide emissions from the Red Sea Bay Company totaled 537.72 tons, with a concentration of 26.84 mg/Nm³, meeting the required standards[54]. - The company has implemented measures to upgrade existing coal-fired power generation units to reduce emissions intensity, with all emission indicators performing better than industry averages[57]. - The company aims to construct a resource-saving and environmentally friendly enterprise, actively promoting energy-saving and emission-reduction initiatives[57]. - The company has committed to implementing the "14th Five-Year" energy-saving and emission-reduction plan to support carbon peak and carbon neutrality goals[57]. Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves for the reporting period[3]. - The board of directors and management confirm the accuracy and completeness of the financial report[3]. - The company is committed to transparency and has made all relevant documents available for shareholder review[5]. - The total number of shareholders at the end of the reporting period was 101,889[81]. - The largest shareholder, Guangdong Energy Group Co., Ltd., holds 67.39% of the shares, totaling 3,538,037,181 shares[81]. Financial Policies and Accounting - The company adopted new accounting policies effective January 1, 2023, impacting the financial reporting of deferred tax assets and liabilities[14]. - The company recognizes revenue from electricity and heat sales when control is transferred to the grid company or customer, confirming sales revenue at that point[160]. - The company confirms expected liabilities for product quality guarantees when it is probable that economic benefits will flow out, and the amount can be reliably measured[159]. - The company recognizes interest expenses related to the increase in the carrying amount of expected liabilities due to the passage of time[159]. - The company has implemented accounting policy changes in accordance with the Ministry of Finance's new guidelines effective from 2022[168].