SEP(SH:600021)2024-04-01 16:00Financial Performance - The company's audited net profit for 2023 is CNY 231,003,640.52, with a total distributable profit of CNY 689,133,430.44 at the end of 2023[6]. - 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[6]. - The operating revenue for 2023 is CNY 42,401,756,975.54, representing an increase of 8.03% compared to the previous year[23]. - The net profit attributable to shareholders for 2023 is CNY 1,592,660,430.89, a significant increase of 376.56% compared to the adjusted net profit of CNY 334,199,832.41 in 2022[23]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 1,496,990,353.97, a decrease of 1,808,784,073.01 compared to the previous year[24]. - The operating cash flow for the year was CNY 7,405,846,989.44, representing a decrease of 39.63% from CNY 12,267,934,739.60 in the previous year[24]. - The total assets increased by 4.07% to CNY 168,572,335,291.72 from CNY 161,978,110,190.02 at the end of 2022[24]. - The basic earnings per share rose significantly by 575.85% to CNY 0.4954 from CNY 0.0733 in 2022[25]. - The weighted average return on equity increased to 8.14%, up by 6.85 percentage points from 1.29% in the previous year[25]. Operational Highlights - The installed capacity of the company reached 22.4452 million kW by the end of 2023, with clean energy accounting for 56.12% of the total capacity[38]. - The company generated 75.434 billion kWh of electricity in 2023, an increase of 18.34% year-on-year[40]. - The company achieved a total operating revenue of 42.402 billion RMB in 2023, representing a year-on-year growth of 8.03%[38]. - The consolidated power generation for 2023 was 75.434 billion kWh, an increase of 18.37% year-on-year, with coal power generation at 52.348 billion kWh, up 22.42%[53]. - The company reported a total revenue of CNY 10,954,709,952.94 in the fourth quarter, showing a decline from CNY 11,200,896,591.68 in the third quarter[30]. Risk Management and Compliance - The company has not reported any significant risks that could materially affect its operations during the reporting period[10]. - The company has enhanced its risk management framework, identifying and addressing the top 10 major risks and implementing a three-year internal control system plan[42]. - The company received an A-level rating for information disclosure from the Shanghai Stock Exchange for two consecutive years, highlighting its commitment to transparency[43]. - The company has implemented strict risk control measures for its foreign exchange hedging activities, ensuring compliance with legal and regulatory standards[109]. - The company has established a risk management framework for overseas investments, including due diligence and compliance checklists[123]. Environmental and Social Responsibility - The company has focused on achieving "carbon peak" and "carbon neutrality" goals, aligning its development strategy with environmental sustainability[183]. - The company reported emissions of 249.02 tons of particulate matter, 2,593.28 tons of sulfur dioxide, and 5,503.48 tons of nitrogen oxides[183]. - The company has actively implemented a CO₂ capture and reuse project, which has transported a total of 39,782 tons of captured CO₂ for use in nearby production[197]. - The company has donated a total of approximately 3.2234 million RMB for social responsibility projects, including disaster relief efforts in Turkey and support for poverty alleviation in Jiangsu Province[200]. - The company has published its 2023 Environmental, Social, and Governance (ESG) report, available on the Shanghai Stock Exchange website[198]. Strategic Initiatives and Future Outlook - The company plans to significantly expand its renewable energy capacity, focusing on projects in regions such as Xinjiang, Gansu, and Shanghai, with a particular emphasis on offshore wind power[119]. - The company aims to enhance the management of its equity investments to maximize shareholder interests[121]. - The company is focused on achieving its strategic goals of becoming a leading clean energy enterprise by 2025 and a globally competitive clean energy company by 2035[117]. - The company plans to optimize its power generation structure to increase the proportion of clean energy generation and control carbon compliance costs[122]. - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues of approximately $5.72 billion[140]. Corporate Governance - The company conducted 15 board meetings and 5 supervisory meetings during the reporting period, adhering to legal and regulatory requirements[126]. - The company has established a comprehensive internal control system, with 117 new, revised, or abolished internal regulations during the year[176]. - The company has revised its governance rules to enhance transparency and accountability, completing all identified issues from the self-inspection[180]. - The company has implemented a performance evaluation mechanism for senior management based on a principle of "performance up, salary up; performance down, salary down"[175]. - The company has committed to ensuring no significant competition arises from its controlling shareholder's activities[131].