BJP(SH:600578)2024-04-26 10:17Financial Performance - The company's operating revenue for 2023 reached ¥32,877,836,438.42, representing a 7.85% increase compared to ¥30,485,414,718.71 in 2022[16]. - The net profit attributable to shareholders for 2023 was ¥878,250,531.25, up 9.31% from ¥803,479,353.01 in the previous year[16]. - The net cash flow from operating activities decreased by 36.79% to ¥3,895,692,010.73 from ¥6,163,579,091.98 in 2022[16]. - The total assets of the company increased by 6.2% to ¥89,963,375,955.39 at the end of 2023, compared to ¥84,712,626,644.47 at the end of 2022[16]. - The basic earnings per share for 2023 was ¥0.11, a decrease of 8.33% from ¥0.12 in 2022[17]. - The weighted average return on net assets for 2023 was 3.53%, slightly down from 3.60% in 2022[17]. - The company reported a net profit of ¥49,502,079.08 in Q4 2023, following a loss of ¥39,189,424.65 in Q2 2023[19]. - Non-recurring gains for 2023 included ¥67,577,720.81 from government subsidies, down from ¥92,185,715.51 in 2022[20]. - The net assets attributable to shareholders increased by 12.66% to ¥27,497,591,656.57 at the end of 2023 from ¥24,408,279,053.92 at the end of 2022[16]. Dividend Policy - The company plans to distribute a dividend of 1.05 RMB per 10 shares for the 2023 fiscal year, based on a total share capital of 6,694,621,015 shares[3]. - The total cash dividend amount was approximately ¥702.94 million, representing 80.04% of the net profit attributable to ordinary shareholders[111]. - The company plans to maintain an average annual cash dividend amount of no less than 70% of the distributable profit for the next three years (2023-2025) under normal circumstances[109]. - The company’s profit distribution policy emphasizes stability and sustainability, balancing long-term interests with shareholder returns[109]. Risk Management and Governance - The company emphasizes risk management and has implemented effective measures for risk control and early warning[4]. - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[4]. - The company has not faced any situations where more than half of the directors cannot guarantee the authenticity, accuracy, and completeness of the annual report[4]. - The company has established a governance mechanism that ensures clear responsibilities and effective operation among its decision-making and supervisory bodies[78]. - The company adheres to the governance structure as per the relevant laws and regulations, ensuring the rights of shareholders are protected[78]. Operational Highlights - The total power generation for the year was 91.243 billion kWh, an increase of 11.857 billion kWh year-on-year, with an average utilization hour of 4,855 hours for thermal power units, up by 225 hours[23]. - The company expanded its installed capacity to 20.2055 million kW, including 1.978 million kW from coal-fired power plants and 425,500 kW from photovoltaic projects[23]. - The company signed long-term coal contracts totaling 62.46 million tons, an increase of 1.84 million tons year-on-year, to ensure stable fuel supply[29]. - The company achieved a total power generation of 91.243 billion kWh in 2023, a year-on-year increase of 14.94%, with thermal power generation accounting for 90.837 billion kWh, a year-on-year increase of 14.42%[37]. Research and Development - Research and development expenses increased by 157.39% to 959.73 million yuan, reflecting a strong focus on innovation and technology development[38]. - The total R&D investment amounted to ¥154.48 million, representing 0.47% of total revenue, with capitalized R&D accounting for 37.87% of the total[47]. - The company is investing 500 million RMB in R&D for new technologies aimed at improving energy efficiency[86]. Environmental and Social Responsibility - The company reported no environmental pollution incidents in 2023, with pollutant emissions per unit of electricity generated being 0.059 g/kWh for sulfur dioxide, 0.120 g/kWh for nitrogen oxides, and 0.009 g/kWh for particulate matter[121]. - Total donations for social responsibility in 2023 amounted to 17.3 million yuan, including 4.9 million yuan for educational support in Wuxiang County and 4.9 million yuan for flood relief in Zhuozhou City[133]. - The company has completed ultra-low emission retrofits for all power units above 300MW and has implemented full enclosure of coal yards to control dust emissions[123]. - The company has disclosed its 2023 Social Responsibility (ESG) report, highlighting its commitment to sustainability[132]. Market Expansion and Strategic Initiatives - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2024[84]. - A strategic acquisition of a local energy firm is anticipated to enhance operational capabilities and increase market penetration[84]. - The company plans to implement a comprehensive energy base project that integrates wind, solar, and thermal energy, aiming to deliver green electricity to Beijing[99]. - The company is considering strategic acquisitions to enhance its portfolio, targeting firms with complementary technologies[89]. Financial Management and Debt - The company has a total of RMB 2,530,419,329.40 in guarantees to subsidiaries at the end of the reporting period[163]. - The company has provided bank loan guarantees of RMB 1,543,000,000.00 to subsidiaries during the reporting period[164]. - The company has issued a total of CNY 1.5 billion in medium-term notes with a 2.87% interest rate[190]. - The company has not faced any overdue bonds or risks related to bond termination[186]. Employee and Management Compensation - The total pre-tax remuneration for the general manager, Li Ransheng, during the reporting period was 1.5055 million yuan[82]. - The total pre-tax remuneration for the employee representative supervisor, Dai Zhonggang, was 1.0294 million yuan[83]. - The total pre-tax remuneration for the deputy general manager, Wang Jinxin, was 1.3454 million yuan[83]. - The independent directors received a remuneration of RMB 80,000 per year, with payments made quarterly[91].