IMDTECL(SZ:002128)2023-04-25 16:00Financial Performance - The company's operating revenue for 2022 was ¥26,792,900,343.99, representing an increase of 8.59% compared to the adjusted revenue of ¥24,672,568,802.35 in 2021[13]. - The net profit attributable to shareholders for 2022 was ¥3,986,811,621.16, an increase of 11.29% from the adjusted net profit of ¥3,582,357,625.27 in 2021[13]. - The net cash flow from operating activities for 2022 was ¥8,504,128,179.49, showing a significant increase of 34.29% compared to ¥6,332,816,934.91 in 2021[13]. - The basic earnings per share for 2022 was ¥2.07, up 11.29% from ¥1.86 in 2021[13]. - Total assets at the end of 2022 amounted to ¥42,120,916,882.50, reflecting an increase of 11.84% from the adjusted total assets of ¥37,662,976,328.13 at the end of 2021[13]. - The company reported a total profit for 2022 of 5,583.7403 million yuan, a decrease of 1.06% compared to the previous year, primarily due to increased raw material costs for electrolytic aluminum[37]. - The company achieved total operating revenue of CNY 26,792.90 million, an increase of 8.59% year-on-year[41]. - Operating profit was CNY 5,675.84 million, a decrease of 1.61% compared to the previous year[41]. - Total profit amounted to CNY 5,583.74 million, down 1.06% year-on-year, primarily due to increased costs of raw materials for electrolytic aluminum[41]. - Net profit attributable to the parent company reached CNY 3,986.81 million, reflecting an increase of 11.29% year-on-year[41]. Market Conditions - In 2022, the power generation from thermal power in Northeast China decreased by 5.02% year-on-year, with utilization hours dropping by 257 hours[2]. - The average price of the main aluminum contract fell by 1,285 RMB/ton, a decrease of 6.45%, influenced by factors such as the Russia-Ukraine conflict and weak supply-demand dynamics[3]. - The company faces unprecedented pressure due to rising coal prices, declining utilization hours, and challenges from energy consumption control policies, which have reduced profit margins[2]. - The overall coal supply and demand in the country remained basically balanced, with stable market prices due to government policies aimed at releasing domestic coal production capacity[2]. - The domestic coal demand is expected to maintain an upward trend during the "14th Five-Year Plan" period, despite potential fluctuations due to international market conditions[24]. - The company anticipates a relatively optimistic market demand outlook for 2023 due to national carbon peak policies and increased economic stimulus measures[28]. - The aluminum segment is under pressure from high inflation and geopolitical tensions, affecting aluminum prices and supply chain stability[100]. Renewable Energy Initiatives - The renewable energy sector is expected to benefit from favorable development conditions, with an increasing share of renewable energy generation in the power supply structure[3]. - The company emphasizes the importance of financial support for the renewable energy industry, which is expected to grow under the "dual carbon" goals[3]. - The company plans to significantly increase its renewable energy capacity to over 7 million kilowatts by the end of the 14th Five-Year Plan, enhancing its profit growth potential[32]. - The company’s wind and solar projects under construction will add 300,000 kilowatts of wind power and 100,000 kilowatts of solar power, further increasing its renewable energy footprint[32]. - The company is focusing on adopting zero-carbon technologies and planning systematic upgrades for equipment procurement to align with sustainable development goals[26]. - The company plans to continue expanding its renewable energy portfolio through both equity and non-equity investments[82]. - The company reported a total investment of approximately CNY 5,026.89 million in various renewable energy projects, including wind and solar power, during the reporting period[84]. Operational Efficiency and Technology - The company aims to integrate intelligent mining technologies and promote smart construction practices to enhance operational efficiency[26]. - The company has completed the development of 17 functional applications for the smart mining comprehensive control project, aiming for green production and low carbon emissions[63]. - The company is developing a smart dust warning system to enhance power generation efficiency by providing timely alerts for cleaning solar panels[64]. - A new cleaning robot designed to improve power generation efficiency is under research, aiming to reduce dust accumulation on solar panels[64]. - The company plans to invest in new technologies to improve operational efficiency and reduce environmental impact[189]. Corporate Governance and Shareholder Relations - The company has maintained a consistent governance structure, ensuring compliance with the Company Law and its articles of association regarding director remuneration[129]. - The company has a dedicated investor relations management team to facilitate communication with investors through various channels[108]. - The company held several shareholder meetings in 2022, with participation rates ranging from 5.90% to 69.64%[109]. - The company has a well-defined cash dividend policy that complies with its articles of association and shareholder resolutions[145]. - A cash dividend of CNY 0.5 per share (tax included) is proposed, totaling CNY 1,120,786,746.50, which represents 100% of the profit distribution[147]. Environmental Compliance - The company has a valid pollution discharge permit for its subsidiary, effective until June 15, 2025, indicating compliance with environmental regulations[156]. - The average emission concentrations of particulate matter, sulfur dioxide, and nitrogen oxides for Tongliao Hohhot Power Company in 2022 were 2.21 mg/m³, 20.81 mg/m³, and 41.22 mg/m³ respectively, meeting the ultra-low emission standards[158]. - The total emissions for particulate matter, sulfur dioxide, and nitrogen oxides for Tongliao Hohhot Power Company in 2022 were 45.10 tons, 424.70 tons, and 841.15 tons respectively, complying with total pollutant discharge control requirements[158]. - Continuous improvements in environmental management practices are being implemented to enhance compliance and reduce emissions further[158]. Strategic Investments and Acquisitions - The company made a significant equity investment in Tongliao Tongdian New Energy Co., Ltd., amounting to CNY 317,400,000, acquiring a 100% stake for the development of a 1.80 million kW photovoltaic power generation project[78]. - The company is actively exploring opportunities for mergers and acquisitions to strengthen its market position and diversify its portfolio[189]. - The company has established multiple subsidiaries focused on renewable energy projects, including photovoltaic and wind power generation[78]. Challenges and Future Outlook - The company faces significant supply risks in the coal sector due to increasing demand for coal for heating and industrial use, with no downward trend in annual demand[98]. - The company expects increased pressure on renewable energy project profitability due to rising installed capacity and uncertain electricity demand[100]. - The planned total profit for 2023 is 4,805.45 million CNY, a decrease of 77.83 million CNY compared to 2022, primarily due to lower aluminum prices[97].