2024-03-28 16:00Financial Performance - In 2023, the company achieved a basic earnings per share of CNY 0.018, a significant improvement from a loss of CNY 0.228 in 2022[21]. - The weighted average return on equity increased to 0.53% in 2023, compared to -6.31% in the previous year[21]. - The company reported a decrease in credit impairment losses due to improved management of accounts receivable, contributing to the overall financial recovery[21]. - The company achieved total operating revenue of RMB 114.797 billion in 2023, a decrease of 2.4% compared to RMB 117.623 billion in 2022[22]. - The net profit attributable to shareholders was RMB 285.155 million, a significant improvement from a loss of RMB 3.566 billion in the previous year[22]. - The gross profit margin for the year was 18.8%, an increase of 2.6 percentage points year-on-year[30]. - The company reported a net cash flow from operating activities of RMB 7.797 billion, down 8.1% from RMB 8.483 billion in 2022[22]. Business Strategy and Development - The company plans not to distribute profits for the 2023 fiscal year, nor to increase capital through reserves, pending shareholder approval[4]. - The company emphasized a focus on high-quality development and core business responsibilities, leading to improved gross profit margins in certain business segments[21]. - The company focused on high-end equipment manufacturing, aiming to enhance its core competitive advantages in line with national energy policies[32]. - The company is committed to addressing potential risks as outlined in the management discussion and analysis section of the report[7]. - The company is actively exploring partnerships with universities and research institutions to build a stable innovation platform[47]. - The company aims to become a world-class equipment manufacturer by driving high-quality development through technological innovation and market expansion[48]. Market and Order Backlog - New orders totaled RMB 137.21 billion during the reporting period, with energy equipment orders amounting to RMB 75.22 billion[31]. - As of the end of the reporting period, the company had a backlog of orders worth RMB 265.76 billion, with energy equipment orders making up RMB 153.13 billion[31]. Technological Innovation - In 2023, Shanghai Electric was recognized for its significant contributions to technology innovation, receiving over 20 approvals for major R&D projects in areas such as renewable energy and artificial intelligence[44]. - The company achieved a breakthrough in the CAP1400 nuclear power technology, with the largest stainless steel forged main pipe in the world for pressurized water reactors[45]. - The company has developed a complete product system for coal-fired power equipment ranging from 10MW to 1350MW, achieving international advanced levels in economic, safety, and stability indicators[56]. Environmental and Social Responsibility - The company launched the "Double Carbon" action plan, aiming for carbon peak by 2030 and striving for carbon neutrality in operations by 2035[39]. - The company invested 800,000 yuan in poverty alleviation projects, specifically targeting three impoverished villages in Yunnan Province[174]. - The company has established environmental monitoring plans to ensure compliance with emission standards, with results publicly disclosed[170]. Risk Management - The company faced significant risks including market fluctuations, raw material price volatility, exchange rate risks, and overseas business challenges[7]. - The company recognizes the risks associated with raw material price fluctuations and will optimize its supply chain management to mitigate these risks[115]. - The company is committed to strengthening its management and risk control in overseas projects, addressing challenges such as rising labor and material costs due to macroeconomic and geopolitical uncertainties[116]. Corporate Governance - The company has a performance evaluation mechanism for senior management that aligns responsibilities with benefits and risks with returns[155]. - The company’s governance structure includes independent directors and supervisors to ensure compliance and oversight[134]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to RMB 1,385.508 million[125]. Future Outlook - Future performance guidance suggests a positive outlook with expected growth in revenue and market share[121]. - The company provided guidance for the next fiscal year, projecting revenue growth of B% and an expected total revenue of $C million[128]. - The company aims to enhance its market expansion capabilities and drive high-quality development in traditional industries and new sectors, focusing on the industrial chain, innovation chain, supply chain, and talent chain[112].