GDEP(600310)2024-03-27 16:00Financial Performance - The company's operating revenue for 2023 was ¥16,715,807,711.81, a decrease of 4.12% compared to ¥17,434,827,968.58 in 2022[22]. - The net profit attributable to shareholders was ¥1,655,816.72, a significant recovery from a loss of ¥222,243,176.84 in 2022[22]. - The net cash flow from operating activities decreased by 51.79% to ¥607,631,642.64 from ¥1,260,419,144.22 in 2022[22]. - The total assets at the end of 2023 were ¥18,412,848,496.89, down 15.33% from ¥21,746,679,412.27 in 2022[22]. - The company's net assets attributable to shareholders decreased by 7.98% to ¥2,982,463,160.93 from ¥3,241,069,355.91 in 2022[22]. - The company reported a decrease in net profit due to reduced operating profits from hydropower business caused by lower water inflow[24]. - The company reported non-operating income from government subsidies amounting to ¥49,011,136.13 in 2023[28]. - The company achieved a total sales volume of 8.462 billion kWh, representing a year-on-year decline of 4.42%[36]. - The company reported a decrease in revenue from various regions, with the Northeast region showing a slight decline in gross profit margin to 1.73%[56]. - The company’s total revenue for the reporting period was approximately ¥12.57 billion, a decrease of 1.60% compared to the previous year[57]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.3 per 10 shares, totaling RMB 43,971,321.66, which represents 2,655.57% of the net profit attributable to shareholders for the period[5]. - As of December 31, 2023, the company's undistributed profits amounted to RMB 432,067,997.29, with RMB 388,096,675.63 to be carried forward to the next year[5]. - The company does not plan to increase capital through the conversion of capital reserves or issue bonus shares this year[5]. Risk Management and Compliance - The company has made significant progress in risk management, ensuring no major safety incidents occurred during the reporting period[38]. - The company has outlined potential risks in its management discussion and analysis section, emphasizing the importance of investor awareness[6]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has provided a standard unqualified audit report from Da Xin Accounting Firm[4]. - The company’s financial report has been confirmed for its authenticity and completeness by the board of directors and senior management[8]. Operational Metrics - The total share capital of the company is 1,465,710,722 shares as of the end of the reporting period[5]. - The company’s installed capacity reached 1.5786 million kW, with hydropower capacity at 858.6 thousand kW and thermal power capacity at 700 thousand kW[43]. - The company’s total electricity generation for the year was 6.05 billion kWh, a year-on-year decrease of 9.58%[35]. - The company reported a decrease in electricity generation from its hydropower plants, with the largest drop being 29.15% at the Qiaogong Energy Company[35]. - The company’s total electricity sales volume was 8.46 billion kWh, down 4.42% compared to the previous year[47]. Investments and Acquisitions - The company completed the acquisition of controlling interest in the Fangchenggang offshore wind power demonstration project, marking a significant step in its focus on renewable energy[38]. - The company has initiated construction on three photovoltaic power generation projects, with a total installed capacity of 55 MW, which have all received approval[34]. - The company has completed the transfer of 2% equity in Yongsheng Company as part of a major asset restructuring, officially divesting from the oil business segment[38]. - The company has completed the transfer of 49% equity in Yongsheng Company, which is now classified as an associate company[63]. - The company divested its 51% stakes in Hengrun Zhuzhong and Hengrun Petroleum, which are no longer included in the consolidated financial statements[64]. Research and Development - The company invested 9.61 million yuan in R&D during 2023, resulting in 3 new invention patents and 8 utility model patents[39]. - The company has established a digital transformation strategy, with 75% of its subsidiaries connected to bank-enterprise direct links[39]. - The company’s research and development expenses amounted to CNY 9,611,231.67, representing a 67.59% increase from the previous year's CNY 5,735,059.26[66]. Environmental and Social Responsibility - The company invested RMB 1,785.9 million in environmental protection during the reporting period[173]. - The company utilized clean energy sources such as hydropower and photovoltaics to reduce carbon emissions by 206,730 tons[181]. - Total investment in social responsibility projects amounted to 692,500 CNY, benefiting 1,205 individuals through various initiatives[182]. - The company facilitated the purchase of 1.82 million CNY worth of products from poverty-stricken areas through consumption assistance programs[184]. Governance and Management - The company held 7 shareholder meetings in 2023, ensuring transparency and fairness in decision-making processes[128]. - The board of directors convened 16 meetings during the reporting period, adhering to legal and regulatory requirements[129]. - The supervisory board held 12 meetings, ensuring compliance and oversight of financial matters and related transactions[129]. - The company has established a performance evaluation and incentive mechanism to enhance effectiveness and motivation[129]. - The company strictly adheres to information disclosure obligations, ensuring timely and accurate communication with shareholders[129]. Future Outlook - The company anticipates a 6% year-on-year growth in total electricity consumption for 2024, driven by macroeconomic factors and energy electrification[114]. - The company expects the total installed power generation capacity to exceed 300 million kilowatts by the end of 2024, with new energy generation capacity surpassing 200 million kilowatts[114]. - The company aims to enhance its renewable energy capacity, focusing on offshore wind, onshore wind, solar, and pumped storage projects, to improve its market position[117]. - The company plans to optimize its existing projects while developing new ones, aiming to improve asset quality and operational efficiency[118].