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中广核电力(01816) - 2023 - 年度业绩
CGN POWERCGN POWER(HK:01816)2024-03-27 11:22

Financial Performance - The total operating revenue for the year ended December 31, 2023, was approximately RMB 82,548.6 million, a decrease of 0.3% compared to 2022[2]. - Net profit attributable to shareholders of the parent company was approximately RMB 10,724.6 million, an increase of 7.6% from 2022[2]. - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, was approximately RMB 10,612.9 million, reflecting an increase of 8.6% from the previous year[2]. - The total profit for the year was approximately RMB 20,530.6 million, compared to RMB 18,700.1 million in 2022, showing a growth in profitability[5]. - Basic and diluted earnings per share for the year were both RMB 0.212, compared to RMB 0.197 in 2022, indicating improved earnings performance[5]. - The total comprehensive income for the year was approximately RMB 17,042.5 million, an increase from RMB 15,782.1 million in 2022, highlighting overall growth in financial performance[5]. - The consolidated net profit attributable to ordinary shareholders for 2023 was RMB 10,724,570,116.68, an increase from RMB 9,963,793,122.97 in 2022, representing a growth of approximately 7.6%[30]. - The basic earnings per share for 2023 was RMB 0.212, compared to RMB 0.197 in 2022, reflecting an increase of about 7.6%[30]. Dividends - The board proposed a final cash dividend of RMB 0.094 per share (tax included)[2]. - The proposed final cash dividend for the year ending December 31, 2023, is RMB 0.094 per share (tax included), with an expected payout ratio of approximately 44.26%[106]. - The final dividend for the year ended December 31, 2022, was RMB 0.087 per share (tax included), with a dividend payout ratio of 44.09% of the net profit attributable to shareholders[106]. - Cumulative dividends paid since the company's listing in 2014 have reached RMB 27,216.52 million[106]. Research and Development - Research and development expenses for the year were approximately RMB 2,419.8 million, up from RMB 1,869.8 million in 2022, indicating a significant investment in innovation[4]. Assets and Liabilities - As of December 31, 2023, total current assets amounted to RMB 72,787,425,761.31, an increase of 3.6% from RMB 70,504,910,095.09 in 2022[6]. - Cash and cash equivalents increased to RMB 15,740,022,846.16, up from RMB 14,840,775,400.46, reflecting a growth of 6.1%[6]. - Total non-current assets reached RMB 342,462,931,015.04, a slight increase of 1.4% compared to RMB 338,511,007,620.51 in the previous year[6]. - Total liabilities decreased to RMB 249,946,409,917.28 from RMB 251,082,965,789.67, representing a reduction of 0.5%[7]. - The company's total equity increased to RMB 165,303,946,859.07, up from RMB 157,932,951,925.93, marking a growth of 4.3%[7]. - Short-term borrowings rose to RMB 14,254,614,202.81, an increase of 19.5% from RMB 11,930,482,045.91 in 2022[7]. - The company reported a decrease in other payables to RMB 4,706,474,580.48 from RMB 6,756,582,982.51, a decline of 30.2%[7]. - The company's retained earnings increased to RMB 44,432,050,938.38, up from RMB 39,037,526,815.66, reflecting a growth of 13.0%[7]. Operational Performance - The company is primarily engaged in nuclear power generation and related services, with a focus on expanding its operational capabilities[8]. - The average utilization hours for nuclear power in 2023 were 7,670 hours, an increase of 54 hours from 2022[76]. - The total electricity generated by the operating nuclear units in 2023 was 214,146.46 GWh, representing a 7.95% increase compared to 198,374.80 GWh in 2022[83]. - The average capacity factor for the 27 operating units in 2023 was 89.43%, slightly down from 89.74% in 2022[86]. - The average load factor for the same units in 2023 was 85.72%, compared to 85.45% in 2022[86]. - The company conducted six emergency drills in 2023 to enhance its nuclear emergency response capabilities[82]. - The company maintained a good safety record, with no Level 2 or higher nuclear incidents reported in its operational history[82]. Market and Regulatory Environment - The company continues to enjoy preferential tax rates of 15.00% for several subsidiaries, maintaining the same rate as the previous year[29]. - The company has benefited from various tax incentives, including those for high-tech enterprises and small profit enterprises, which support its operational efficiency[29]. - The company’s credit rating was maintained at AAA with a stable outlook as of September 2023, reflecting strong profitability and cash generation capabilities[72]. - The company has not experienced significant impacts from exchange rate fluctuations on operations or liquidity as of December 31, 2023[107]. Audit and Compliance - The financial statements are prepared in accordance with the Chinese Accounting Standards and relevant regulations, ensuring compliance and transparency[9]. - KPMG Huazhen LLP has audited the company's consolidated financial statements for the year ended December 31, 2023, and issued a standard unqualified audit opinion[112]. - The audit and risk management committee has reviewed the annual performance for 2023 and the consolidated financial statements prepared in accordance with Chinese accounting standards[111]. - The company has maintained compliance with all provisions of the corporate governance code during the reporting period[109]. Future Plans and Strategies - The company plans to invest in ongoing nuclear power station construction and technology upgrades in 2024, focusing on sustainable development[74]. - The company plans to conduct 18 refueling outages in 2024, including four ten-year overhauls and one first overhaul, with a distribution of 7 in Q1, 3 in Q2, 5 in Q3, and 3 in Q4[102]. - The company is committed to enhancing its safety culture and has initiated a quality assurance system effectiveness assessment for all managed companies in 2023[81]. - The company is actively exploring diversified applications of nuclear energy, including heating and energy storage projects, to improve energy utilization efficiency[101]. - The company has implemented a "three modernization" management strategy and lean management to enhance operational efficiency and reduce supply chain risks[100].