HEGC(SZ:000883)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥20,578,214,751.99, a decrease of 9.06% compared to ¥22,628,852,706.05 in 2021[14]. - Net profit attributable to shareholders for 2022 was ¥1,162,540,445.24, down 50.51% from ¥2,349,202,715.24 in 2021[14]. - The net profit after deducting non-recurring gains and losses was ¥993,379,796.79, a decline of 53.84% from ¥2,152,123,308.46 in 2021[14]. - Basic and diluted earnings per share for 2022 were both ¥0.18, a decrease of 50.00% from ¥0.36 in 2021[14]. - Total assets at the end of 2022 were ¥79,474,884,463.23, an increase of 8.75% from ¥73,083,573,494.84 at the end of 2021[14]. - Net assets attributable to shareholders at the end of 2022 were ¥30,688,771,076.34, up 0.85% from ¥30,429,925,167.13 at the end of 2021[14]. - The company reported a significant loss in the fourth quarter of 2022, with a net profit of -¥674,116,289.70[20]. - The company achieved a total profit of 1.626 billion yuan, with a net profit attributable to the parent company of 1.163 billion yuan[29]. Revenue Breakdown - Hydropower revenue fell by 15.76% to CNY 3.92 billion, while thermal power revenue increased by 11.47% to CNY 8.33 billion[46]. - Solar power revenue surged by 90.43% to CNY 1.12 billion, driven by increased installed capacity and generation[46]. - Natural gas business revenue rose by 19.44% to CNY 2.38 billion, attributed to high natural gas prices[46]. - Coal trading revenue plummeted by 45.89% to CNY 3.45 billion due to adjustments in sales models[46]. - The company’s coal sales volume increased by 71.64% year-on-year, reaching 38.649 million tons[36]. Investment and Projects - The company is actively advancing its pumped storage projects, with a planned installed capacity of 4.4 million kW[32]. - The company has ongoing construction projects, including the Luotian Pingtan Pumped Storage Power Station, with an investment of CNY 444,406,872.88 during the reporting period[72]. - The total committed investment for the first phase of the Qiyue Mountain Wind Farm project is CNY 31,622 million, with a cumulative investment of CNY 8,574.41 million, achieving a progress rate of 27.12%[76]. - The company has established several new subsidiaries, with some already in production and generating profits, although most new investments have not had a significant impact on overall operations[87]. Governance and Management - The company has established a governance mechanism with clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[104]. - The company has maintained independence from its controlling shareholder in terms of personnel, assets, finance, and operations[105]. - The board of directors includes independent directors accounting for at least one-third of its members, ensuring effective governance[104]. - The company experienced changes in its board and management, with several resignations including the vice chairman and general manager, who resigned on March 30, 2022[111]. - The company has a diverse board with members holding advanced degrees and significant experience in various sectors, including energy and finance[112]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report, advising investors to understand the differences between plans, forecasts, and commitments[2]. - The company is implementing strategies to mitigate coal price risks and optimize fuel procurement to reduce costs[99]. - The company has established a risk management and internal control system, which was approved in December 2022[131]. Environmental Responsibility - The company has not reported any major environmental protection issues or violations of environmental regulations[150]. - Hubei Energy's annual average emission concentrations were 0.65 mg/m³ for sulfur dioxide, 11.27 mg/m³ for nitrogen oxides, and 2.03 mg/m³ for particulate matter at the Donghu Gas Turbine Power Plant[153]. - The company has implemented measures to reduce carbon emissions and is exploring CCUS technology applications[154]. - The company generated 137.03 billion kWh of clean energy in 2022, leading to a reduction of 11.34 million tons of CO2 emissions, 301 tons of dust, 1,383.9 tons of SO2, and 2,082.7 tons of NOx[165]. Shareholder Engagement - The company held an annual general meeting on May 26, 2022, with a participation rate of 72.04%[107]. - The company has focused on enhancing investor relations and information disclosure to improve investor understanding[104]. - The company has implemented a stock repurchase program, with updates provided to individual investors[103]. Future Outlook - The company plans to continue strengthening the acquisition of renewable energy resources in 2023, with a focus on ongoing projects including thermal power and pumped storage projects[39]. - For 2023, the company aims to achieve a power generation target of 370 billion kWh and add 3.8 million kW of new installed capacity[93]. - The company aims to reduce carbon emissions by 20% over the next three years as part of its sustainability strategy[117].