SEP(SH:600021)2024-04-01 16:00Financial Performance - The net profit for the parent company in 2023 was CNY 231,003,640.52, with a total distributable profit balance of CNY 689,133,430.44 at the end of the year[3]. - The proposed cash dividend for 2023 is CNY 0.20 per share, totaling an expected distribution of CNY 563,348,729.00 based on a total share capital of 2,816,743,645 shares[3]. - The average net profit attributable to shareholders increased by 376.56% to approximately RMB 1.593 billion in 2023[10]. - The company's operating revenue for 2023 was approximately RMB 42.402 billion, an increase of 8.03% compared to the previous year[10]. - The net profit attributable to the parent company for 2023 was 1.593 billion RMB, with a net profit of 1.497 billion RMB after deducting non-recurring gains and losses[24]. - The basic earnings per share for the year was 0.4954 RMB, and the weighted average return on equity was 8.14%[24]. - The company achieved an operating revenue of 42.402 billion RMB in 2023, representing an increase of 8.03% year-on-year[24]. Energy Generation and Consumption - National electricity consumption in 2023 reached 9.22 trillion kWh, representing a year-on-year growth of 6.7%, with the first industry growing by 11.5% and the third industry by 12.2%[6]. - The total electricity generation from large-scale power plants in 2023 was 8.91 trillion kWh, with a year-on-year increase of 5.2%[6]. - The company generated a total of 75.434 billion kWh of electricity in 2023, representing an 18.37% increase year-on-year[7]. - The installed capacity of newly connected solar power in 2023 was 220 million kW, contributing to a total installed capacity of 1.05 billion kW for wind and solar combined, a year-on-year increase of 38.6%[6]. - The proportion of non-fossil energy generation capacity exceeded 50% for the first time, reaching 53.9% of the total installed capacity by the end of 2023[6]. - The utilization hours for coal-fired power plants increased by 76 hours to 4,466 hours in 2023, while nuclear power plants saw an increase of 54 hours to 7,670 hours[6]. - Cross-regional electricity transmission increased by 9.7% in 2023, with a total of 849.7 billion kWh transmitted across regions[6]. Investment and Infrastructure - The investment in non-fossil energy generation reached a year-on-year growth of 31.5%, accounting for 89.2% of total power generation investment[6]. - The company plans to maintain its focus on expanding renewable energy investments and enhancing grid infrastructure to support future growth[6]. - In 2023, the company's total installed capacity reached 22,445.2 MW, with clean energy accounting for 56.12% of the total capacity[7]. - The company has made significant advancements in new energy sectors, including hydrogen and energy storage, with projects achieving profitability and operational milestones[9]. Financial Management and Ratios - The company achieved a net cash flow from operating activities of approximately RMB 7.406 billion, a decrease of 39.63% from the previous year[10]. - The company’s total assets as of the end of 2023 were approximately RMB 168.572 billion, reflecting a 4.07% increase from the previous year[10]. - The asset-liability ratio improved to 70.01% in 2023, down from 72.65% in 2022, a decrease of 2.64%[23]. - The interest coverage ratio increased to 2.14, up 35.28% from 1.58 in the previous year[23]. - The EBITDA to total debt ratio improved to 0.1239, an increase of 2.17% from 0.1022[23]. Corporate Governance and Shareholder Information - The company has a controlling shareholder, State Power Investment Corporation, which also controls China Power International Development[14]. - The company reported a total shareholder equity of 69,139,553, with a net income of 2.45 million[14]. - The company has not faced any delisting risk or warning as per the annual report disclosures[24]. - The company continues to focus on operational stability and growth strategies in the upcoming fiscal periods[24]. Financing Activities - The company has issued three phases of corporate bonds in 2022, with total amounts of 20 billion, 14 billion, and 17 billion respectively, at interest rates of 2.94%, 3.08%, and 3.05%[18]. - The company has also issued short-term financing bonds in 2024, with amounts of 10 million, 17 million, 25 million, and 20 million, at interest rates of 2.31%, 2.03%, and 2.10%[19]. - The company completed interest payments for its 2022 corporate bonds on February 23, March 16, and April 20, 2023[20]. - The company completed interest payments for multiple short-term financing bonds throughout 2023, with various payment dates from April to December[21][22]. - The company has successfully managed its financing activities, ensuring timely completion of bond payments[21][22].