ZMNY(SH:600163)2024-04-26 08:35Financial Performance - In 2023, the company's operating revenue was CNY 1,731,811,521.35, a decrease of 3.30% compared to CNY 1,790,929,602.35 in 2022[22]. - The net profit attributable to shareholders was CNY 678,473,538.83, down 6.91% from CNY 728,837,664.99 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 651,398,061.02, a decrease of 10.12% compared to CNY 724,776,071.03 in 2022[22]. - The net cash flow from operating activities was CNY 1,029,380,826.69, down 19.31% from CNY 1,275,700,864.72 in the previous year[22]. - The total profit decreased by 5.95% to ¥862 million compared to the previous year[32]. - The company's total installed capacity reached 957,300 kW by the end of 2023, with wind power accounting for 907,300 kW[49]. - The total cost of power generation was 169,369.07 million RMB, a decrease of 4.12% year-on-year[76]. - The company reported a significant increase in undistributed profits, reaching CNY 1,280.76 million, up 58.16% from the previous year[71]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.5 per 10 shares, totaling CNY 95,149,807.15[5]. - The company declared a cash dividend of CNY 0.50 per 10 shares, totaling CNY 95,149,807.15, which represents 14.02% of the net profit attributable to ordinary shareholders in the consolidated financial statements[160]. - The company has established a cash dividend policy for the next three years (2023-2025), ensuring compliance with regulations and transparency in decision-making[157]. - The company plans to prioritize cash dividends, aiming for a minimum of 30% of the average distributable profit over the next three years (2023-2025)[184]. Operational Efficiency and Capacity - The total power generation was 293,544.05 million kWh, a decrease of 8.40% year-on-year[32]. - The average utilization hours for the company's onshore wind farms in Fujian reached 2,744 hours in 2023, significantly higher than the national average of 2,225 hours[45]. - The average utilization hours for the company's offshore wind farms reached 3,905 hours in 2023, indicating strong operational efficiency[46]. - The company achieved a solar power generation capacity of 20,000 kilowatts and biomass power generation capacity of 30,000 kilowatts by the end of 2023[44]. - The company plans to continue expanding its renewable energy projects and improve operational efficiency in the coming years[49]. Market Position and Strategy - The company plans to expand projects in regions such as Fujian, Heilongjiang, and Xinjiang to enhance clean energy development[34]. - The company is committed to sustainable development, leveraging its state-owned parent group's resources to enhance its competitive position in the renewable energy market[47]. - The company plans to enhance its market presence in the renewable energy sector, particularly in wind and solar power generation[94]. - The company aims to enhance its offshore wind power investments and actively seek development opportunities outside Fujian Province[99]. Governance and Compliance - The audit report issued by Huaxing Accounting Firm was a standard unqualified opinion[4]. - The company strictly adheres to the Company Law and Securities Law, ensuring compliance with governance standards and protecting shareholder rights[118]. - The company has a structured governance framework with specialized committees to enhance operational efficiency[122]. - The company has established a transparent information disclosure system, ensuring timely and accurate communication with investors[124]. Environmental and Social Responsibility - The company is committed to sustainable development and has integrated environmental impact assessments into its project planning and execution[172]. - The company achieved a total power generation of 293,544.05 million kWh in 2023, resulting in a reduction of 2,559,700 tons of carbon dioxide equivalent emissions[172]. - Total investment in social responsibility projects amounted to 3.17 million CNY, with 2.00 million CNY allocated for educational development in Xinxing Village[174]. - The company contributed 25.32 million CNY to poverty alleviation and rural revitalization projects, including 15.32 million CNY for purchasing poverty alleviation products[174]. Risk Management - The company does not foresee any significant risks that could materially affect future development[7]. - The renewable energy subsidy risk is significant as the funding gap for subsidies continues to grow, affecting cash flow and operational efficiency[109]. - The company has not reported any significant changes in business, products, or services during the reporting period[61]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[171].