Financial Performance - The revenue achieved was approximately RMB 59.053 billion[2] - The profit attributable to equity holders for the period was approximately RMB 2.877 billion[2] - The basic earnings per share were approximately RMB 0.239[2] - The company's revenue for the period was approximately RMB 59.05 billion, representing a growth of about 20.65% year-on-year, primarily due to increased electricity generation and coal trading volume[17] - The net profit attributable to equity holders of the company was approximately RMB 2.88 billion, an increase of about 80.88% compared to the same period in 2022[17] - Basic earnings per share for the period was RMB 0.239, compared to RMB 0.115 in the previous year, marking an increase of 108.7%[49] - The total comprehensive income for the first half of 2023 reached RMB 2,685,260 thousand, a significant increase of 88% compared to RMB 1,430,110 thousand in the same period of 2022[87] - The comprehensive income attributable to shareholders of the parent company was RMB 2,577,912 thousand, up from RMB 1,656,044 thousand in the first half of 2022, reflecting a growth of 55.6%[87] Power Generation and Capacity - The total power generation for the period was approximately 107.59 million MWh[2] - The total on-grid electricity was approximately 100.73 million MWh[2] - The company has a total installed capacity of 57,284.24 MW, including 46,230 MW from coal-fired power, 8,589.05 MW from gas-fired power, and 2,459 MW from hydropower[4] - The company operates 45 power generation enterprises across 12 provinces, autonomous regions, and municipalities in China[4] - The company added a total of 2,530 MW of new generating capacity from January 1, 2023, to the announcement date, including 1,360 MW from Shantou Company and 1,000 MW from Pingjiang Company[13] - The company has approved and under construction projects totaling 6,499.08 MW, including two 1,000 MW coal-fired units at Shantou Company and two 535 MW gas units at Guangdong Huizhou Energy Co., Ltd.[14] - The company operates a total of 12 power plants with a combined capacity of 12,000 MW, focusing on coal and gas generation[10] Financial Position and Liabilities - As of June 30, 2023, the total borrowings of the company were approximately RMB 96.20 billion, with a debt-to-asset ratio of 64.02%, a decrease of 3.79 percentage points from the end of 2022[24] - The company's total liabilities decreased from RMB 152,833,689 thousand as of December 31, 2022, to RMB 145,950,065 thousand as of June 30, 2023, a reduction of approximately 4.8%[84] - Current liabilities totaled RMB 56,448,725 thousand as of June 30, 2023, down from RMB 63,091,810 thousand at the end of 2022, indicating a decrease of 10.4%[84] - Long-term borrowings increased to RMB 65,448,142 thousand as of June 30, 2023, up from RMB 59,739,783 thousand at the end of 2022, reflecting an increase of 9.0%[84] Operational Efficiency and Costs - The average utilization hours of generating units increased by 83 hours year-on-year to 1,947 hours, with coal-fired units averaging 2,167 hours, an increase of 104 hours[16] - The company's fuel costs amounted to approximately RMB 38.83 billion, an increase of about 2.74% year-on-year, mainly due to increased electricity generation[18] - The company's financial expenses decreased by approximately 10.42% year-on-year to RMB 1.85 billion, attributed to improved capital operations and reduced financing costs[21] - The company reported a decrease in total operating costs to RMB 59,096,369 thousand in the first half of 2023 from RMB 51,739,816 thousand in the same period of 2022, a reduction of 14.8%[85] Market and Strategic Initiatives - The company is actively pursuing market expansion and new technology development to enhance operational efficiency and sustainability[12] - The company is expanding its renewable energy portfolio, including hydropower and mixed energy projects, to align with national energy policies[12] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[86] - The company aims to improve the realization rate of annual long-term coal contracts and strengthen coal procurement strategies to stabilize coal prices[29] Governance and Management - The company has appointed Chen Bin as the new General Manager effective from March 2, 2023[30] - The company has undergone a board and supervisory committee reshuffle, with new members elected on May 31, 2023[31] - The company has established a strategic committee to enhance governance and oversight, indicating a focus on long-term strategic planning[44] - The company adheres to the corporate governance principles, ensuring transparency, accountability, and independence[43] Environmental and Social Responsibility - The company is committed to reducing emissions and pollution while optimizing water usage and pollution prevention measures[29] - The group has complied with the environmental, social, and governance requirements of the Hong Kong Listing Rules[43]
华电国际电力股份(01071) - 2023 - 中期业绩