CHANGYUAN POWER(SZ:000966)2021-08-17 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[2]. - The net profit attributable to shareholders was 300 million RMB, up 20% compared to the same period last year[2]. - The company's operating revenue for the reporting period reached ¥5,929,519,203.40, an increase of 37.62% compared to the previous year[32]. - The net profit attributable to shareholders was ¥258,220,929.73, reflecting a 4.54% increase year-on-year[32]. - The net profit after deducting non-recurring gains and losses was ¥160,771,866.83, which is a 31.63% increase compared to the previous year[32]. - The net cash flow from operating activities was ¥409,184,345.20, showing a significant increase of 182.57% year-on-year[32]. - The company's electricity generation reached 15.818 billion kWh, a year-on-year increase of 33.88%, with thermal power generation increasing by 37.9% to 14.829 billion kWh[44]. - The company’s net profit attributable to the parent company was 258.22 million RMB, an increase of 1.12 million RMB year-on-year[53]. - The company reported a total revenue of 592,951.92 million yuan for the first half of 2021, an increase of 12,507.43 million yuan compared to the previous year, representing a 2.16% growth[160]. - The company achieved a net profit attributable to the parent company of 25,822.09 million yuan in the first half of 2021, reflecting a year-on-year increase of 37,479.67 million yuan[160]. Capacity and Production - The installed capacity of the company reached 13,000 MW, with a utilization rate of 85% during the reporting period[2]. - The company achieved a total installed capacity of 7,089.7 MW, with thermal power accounting for 6,290 MW, representing 18.86% of Hubei's total thermal power capacity[41]. - The total installed capacity under construction is 2,191 MW, including 2,020 MW of thermal power and 710 MW of wind and solar projects[41]. - The company plans to add approximately 250,000 kW of new energy capacity, including wind and solar projects, during the 14th Five-Year Plan period[47]. Strategic Initiatives - The company plans to expand its renewable energy projects, targeting an increase in wind and solar capacity by 25% by the end of 2023[2]. - The company is exploring strategic partnerships for technology development in energy efficiency and smart grid solutions[2]. - The company is actively pursuing mergers and acquisitions to enhance its market position and expand its operational capabilities[2]. - The company completed a major asset restructuring transaction, acquiring 100% of Hubei Electric Power, which contributed ¥280,825.27 million to the operating revenue, accounting for 47.36% of total revenue[58]. Environmental Compliance - The company achieved a total emission of 943 tons of sulfur dioxide, 1881 tons of nitrogen oxides, and 162 tons of particulate matter during the reporting period[123]. - The desulfurization equipment operated at a 100% utilization rate, ensuring compliance with emission standards[123]. - The coal consumption for power generation was 295.25 grams per kilowatt-hour, a decrease of 3.81 grams per kilowatt-hour year-on-year[124]. - The company plans to invest 190 million yuan in environmental protection projects, including coal yard enclosure and wastewater treatment[123]. - All six thermal power enterprises under the company have completed ultra-low emission renovations and passed environmental acceptance[115]. Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[6]. - The company is facing risks from the ongoing COVID-19 pandemic, which may impact macroeconomic conditions and electricity demand[95]. - The coal market remains tight, with prices reaching historical highs, posing challenges for the company's operations[97]. Shareholder and Governance - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[7]. - There were no changes in the board of directors or senior management during the reporting period[106]. - The controlling shareholder promised not to transfer shares for 18 months after the completion of the transaction[137]. - The company has no significant asset or equity sales during the reporting period[79]. Investment and Financing - The company reported an investment amount of ¥7,203,056,147.61 for the current period, representing a significant increase of 2,629.41% compared to the previous year's investment of ¥263,905,242.44[70]. - The company has a total guarantee amount of 42 million yuan approved for subsidiaries, with an actual guarantee balance of 21.36 million yuan at the end of the reporting period[187]. - The company entered into a financial service agreement with Guoneng Finance to provide various financial services after the restructuring of Guodian Finance[195]. Subsidiary Performance - Han Chuan Yi Fa reported a net profit of CNY 64.66 million, a decrease of CNY 75.98 million year-on-year, primarily due to increased fuel costs[83]. - Jingmen Company achieved a net profit of CNY 49.04 million, an increase of CNY 1.77 million year-on-year, attributed to higher electricity generation[83]. - The company’s subsidiaries collectively contributed significantly to its overall performance, with several reporting increased electricity generation and revenue[82].