JSNE(SH:603693)2024-04-24 09:34Dividend Distribution - The company plans to distribute a cash dividend of 1.5 CNY per 10 shares, totaling 133,721,382 CNY (including tax), which represents 28.31% of the net profit attributable to shareholders for the year [4][12]. - Over the last three years, the company has cumulatively distributed cash dividends of 336,017,831.70 CNY, accounting for 80.19% of the average annual net profit attributable to shareholders during this period [12]. - The company has a policy to distribute at least 10% of the distributable profit as cash dividends if there are no major investment plans or cash expenditures [12]. Environmental Responsibility - The company invested 5,218,600 CNY in environmental protection during the reporting period [16]. - The company has established mechanisms for environmental protection and is committed to social responsibility [15]. - The company has implemented pollution prevention facilities in accordance with national and local requirements, ensuring compliance with emission standards [95]. - The company has established emergency response plans for environmental incidents as required by environmental authorities [96]. - During the reporting period, no environmental pollution incidents occurred, and all subsidiaries complied with environmental laws [102]. - The biomass power generation companies achieved pollutant emission concentrations below national standards, with SO2 emissions at 18.18 mg/m³ against a limit of 35 mg/m³ [115]. - NOx emissions from Huai'an biomass were recorded at 35.48 mg/m³, below the standard of 50 mg/m³, with a total emission of 22.72 tons [115]. - The company has obtained all necessary pollution discharge permits for its biomass power generation projects [116]. - The company is committed to sustainable development and has not faced any administrative penalties related to environmental issues [102]. - All construction projects have passed environmental impact assessments as required by regulatory authorities [116]. - The company has implemented a self-monitoring plan for environmental compliance across its biomass power generation subsidiaries [119]. - The company’s biomass power generation projects have not produced any pollutants during the reporting period due to operational suspensions [114]. Financial Performance - Jiangsu New Energy's consolidated revenue for 2023 was RMB 194,583.53 million, with electricity revenue accounting for approximately 94% of total revenue [78]. - The basic earnings per share for 2023 is CNY 0.53, unchanged from 2022 [132]. - The weighted average return on equity decreased to 7.58% in 2023, down by 0.53 percentage points from 2022 [132]. - The net profit attributable to shareholders for 2023 is not explicitly stated but is implied to have been stable compared to previous years [132]. - The company reported a decrease in the return on equity after deducting non-recurring gains and losses to 7.23%, a drop of 0.73 percentage points from 2022 [132]. - The company has maintained a consistent basic earnings per share over the past three years, with a notable increase from CNY 0.38 in 2021 to CNY 0.53 in 2023 [132]. - In 2023, the company achieved operating revenue of CNY 1.95 billion, a decrease of 1.28% compared to the previous year [149]. - The net profit attributable to shareholders was CNY 472.37 million, down 0.77% year-on-year [149]. - The net cash flow from operating activities was CNY 918.72 million, a decrease of 32.77% compared to the previous year [149]. - The company's gross profit margin was 49.72%, a decrease of 0.59 percentage points year-on-year [156]. - The total revenue for the company was 19.46 billion yuan, a year-on-year decrease of 1.28% [171]. - The net profit attributable to shareholders was 472 million yuan, down 0.77% year-on-year, while the net cash flow from operating activities fell by 32.77% to 919 million yuan [194]. - As of December 31, 2023, the company's total assets increased by 3.74% to 16.444 billion yuan, and net assets attributable to shareholders rose by 5.64% to 6.416 billion yuan [194]. Shareholder Information - Jiangsu New Energy Development Co., Ltd. reported a total of 32,931 common shareholders as of the end of the reporting period, an increase from 31,533 at the end of the previous month [69]. - The largest shareholder, Jiangsu Guoxin Group Co., Ltd., held 510,575,880 shares, representing 57.27% of the total shares [70]. - Jiangsu Coastal Development Group Co., Ltd. held 97,026,700 shares, accounting for 10.88% of the total shares, with a decrease of 473,300 shares during the reporting period [70]. - The company did not report any significant changes in the number of shares pledged by major shareholders, indicating stable ownership structure [70]. - There were no new strategic investors or changes in the controlling shareholder during the reporting period [58]. Operational Developments - The company established a joint venture named Jiangsu New Energy Haoyi Kaisi New Energy Co., Ltd. with Jiangsu Guoxin Yizheng Thermal Power Co., Ltd. and Boten International Investment Trade Co., Ltd. in June 2023 [27]. - The company formed another joint venture, Jiangsu New Energy Haoyi Postal Kaisi New Energy Co., Ltd., with Jiangsu Guoxin Gaoyou Thermal Power Co., Ltd. and Boten International Investment Trade Co., Ltd. in June 2023 [27]. - The company is focusing on new project development, with significant progress in multiple key projects, including a 120,000 kW fish-solar complementary project [158]. - The company has successfully bid for multiple distributed photovoltaic projects, indicating a steady advancement in its project pipeline [170]. - The company is actively pursuing three technology innovation projects in wind, solar, and energy storage sectors, collaborating with universities and industry leaders [176]. - The company is focusing on the development of new energy resources in line with national "dual carbon" strategy requirements [159]. - The company has established Jiangsu New Energy Investment Management Co., Ltd. in partnership with other state-owned enterprises to enhance collaboration in the renewable energy sector [159]. - The establishment of Jiangsu New Energy Investment Management Co., Ltd. marks a significant step in collaborative development among provincial state-owned enterprises in the renewable energy sector [170]. Risk Management and Compliance - The company has not faced any major litigation or arbitration matters during the reporting period [23]. - The company has no outstanding guarantees for subsidiaries as of the reporting period [47]. - The company has no entrusted financial management or loans to external companies during the reporting period [48]. - The company has implemented a self-monitoring plan for environmental compliance across its biomass power generation subsidiaries [119]. - The company is committed to enhancing compliance management and risk management systems, ensuring a more robust governance framework [159]. - No significant risks that could materially affect the company's operations were identified during the reporting period [120]. Energy Generation and Performance - The company achieved a total power generation of 32.13 billion kilowatt-hours through wind, solar, and biomass energy during the reporting period [81]. - The company's total electricity generation reached 32.13 billion kWh, a year-on-year increase of 0.42% [171]. - Wind power generation accounted for 30.58 billion kWh, with onshore wind generation at 22.00 billion kWh (up 3.01%) and offshore wind at 8.58 billion kWh (up 0.39%) [172]. - The photovoltaic segment generated 1.51 billion kWh, with a year-on-year growth of 27.95%, and grid-connected electricity of 1.18 billion kWh, up 15.11% [172]. - The biomass power generation segment saw a significant decline, with a year-on-year drop of 95.25% in generation, reflecting ongoing operational challenges [172]. - The company added approximately 110,000 kW of new photovoltaic capacity during the reporting period [172]. - The company’s renewable energy power generation projects achieved a total generation of 3.213 billion kWh, an increase of 0.42% year-on-year [156]. - The company has seen significant growth in solar and wind power installations, with total installed capacity exceeding 1 billion kW [200].