SCTE(SH:600674)2024-04-11 16:00Dividend Distribution - The company plans to distribute a cash dividend of 4.00 CNY per 10 shares (including tax), totaling approximately 1,949,842,731.20 CNY based on a total share capital of 4,874,606,828 shares as of March 31, 2024[4]. - The company does not plan to increase capital reserves or issue new shares as part of its profit distribution plan[4]. - The board of directors has approved a dividend payout of 0.5 CNY per share, reflecting a commitment to returning value to shareholders[93]. - The total cash dividend amounting to CNY 1,949,842,731.20 represents 44.31% of the net profit attributable to ordinary shareholders[119]. - The total share capital for the dividend distribution was 4,460,820,865 shares, with the record date set for July 13, 2023[119]. Financial Performance - The company's operating revenue for 2023 was CNY 1,482,358,644.40, representing a 4.36% increase compared to CNY 1,420,414,976.88 in 2022[16]. - Net profit attributable to shareholders for 2023 reached CNY 4,400,136,762.78, a 25.17% increase from CNY 3,515,265,709.37 in 2022[16]. - The net profit after deducting non-recurring gains and losses was CNY 4,315,973,222.17, up 25.24% from CNY 3,446,294,444.33 in the previous year[16]. - The company's total assets increased by 10.31% to CNY 60,353,345,396.81 at the end of 2023, compared to CNY 54,713,816,867.60 at the end of 2022[17]. - Basic earnings per share for 2023 were CNY 0.9864, reflecting a 23.96% increase from CNY 0.7957 in 2022[18]. - The weighted average return on net assets rose to 12.63% in 2023, an increase of 1.83 percentage points from 10.80% in 2022[18]. - The net cash flow from operating activities for 2023 was CNY 595,661,247.31, a decrease of 2.91% from CNY 613,533,709.83 in 2022[16]. - The company reported a total net profit of CNY 1,743,857,010.33 for Q3 2023, with a quarterly revenue of CNY 472,959,378.25[20]. Risk Management - The company has outlined potential risks in its future development discussions, which investors are advised to review[6]. - The company has provided detailed descriptions of potential risks in the "Management Discussion and Analysis" section of the report[6]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[5]. - The company has not faced any issues with more than half of the directors being unable to guarantee the authenticity of the annual report[6]. - The company has not violated any decision-making procedures regarding external guarantees[5]. Corporate Governance - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report, with no significant omissions or misleading statements[2]. - The company has confirmed that all directors attended the board meeting, ensuring a quorum for decision-making[3]. - The company has conducted 12 board meetings and 12 supervisory meetings during the reporting period, ensuring effective governance and oversight[83]. - The company held two shareholder meetings during the reporting period, complying with legal regulations and ensuring valid resolutions[86]. - The company has maintained effective internal control systems to ensure compliance and risk management, with no significant deficiencies reported during the reporting period[120]. Investment and Expansion - The company completed fixed asset investment of 692 million RMB in the development of the Jinsha River Silver River Hydropower Station[26]. - The company acquired 51% equity in Guangxi Rong'an Yuchai New Energy Company, adding 100 MW of new energy installed capacity[26]. - The company signed an investment development agreement for the 1.2 million kW Pingshan pumped storage project, marking a significant breakthrough in the pumped storage sector[26]. - The company is actively expanding its clean energy projects, including the development of hydropower and wind energy, to enhance its competitive advantage[28]. - The company is focusing on building a diversified talent development system to enhance employee skills and capabilities[115]. Environmental and Social Responsibility - The company has made an investment of CNY 7,574,400 in environmental protection during the reporting period[124]. - The company has conducted 14 environmental emergency drills to ensure preparedness for potential environmental incidents[126]. - The company has implemented a comprehensive environmental protection management system, revising 11 related regulations to strengthen its environmental governance[126]. - The company has committed to carbon reduction measures, focusing on clean energy projects such as hydropower and photovoltaic power generation, and has implemented energy-saving management practices[127]. - A total of 340,000 yuan was invested in social responsibility projects, including road repairs and infrastructure improvements in local communities, benefiting 2,730 people[131]. Market Position and Strategy - The company aims to leverage the strategic opportunities presented by the "carbon peak and carbon neutrality" goals, focusing on clean energy sectors such as wind, solar, pumped storage, and new energy storage[79]. - The company is facing challenges in the electricity market due to policy adjustments and increased competition, necessitating the exploration of new profit growth points[81]. - The company has established a strong competitive advantage in clean energy project investment and management, supported by its board and major shareholder[77]. - The company is committed to optimizing its industrial structure and enhancing economic efficiency through market-oriented operations[77]. - The company plans to actively participate in the Chengdu-Chongqing economic circle construction and enhance its core clean energy business during the 14th Five-Year Plan period[78]. Shareholder Information - 四川省投资集团有限责任公司 holds 2,373,703,778 shares, representing 51.83% of the total shares[186]. - China Yangtze Power Co., Ltd. holds 484,779,480 shares, accounting for 10.58% of the total shares[186]. - The number of ordinary shareholders decreased from 34,159 to 33,831 during the reporting period[184]. - The company does not have any major shareholders with pledged shares exceeding 80% of their holdings[197]. - The actual controller is the State-owned Assets Supervision and Administration Commission of the Sichuan Provincial Government[194]. Compliance and Legal Matters - The company has not faced any penalties from securities regulatory authorities in the past three years[101]. - There were no major litigation or arbitration matters during the reporting period[149]. - The company has confirmed that there are no issues related to the completion of performance commitments affecting goodwill impairment testing during the reporting period[145]. - The company has a commitment to maintain the lock-up period for shares for 36 months from the date of listing on the Sci-Tech Innovation Board[143]. - The company has undertaken measures to ensure compliance with related party transactions, with a commitment letter issued on March 11, 2022[143].