海力风电(301155) - 2023 Q4 - 年度财报

Financial Performance - The company reported a net loss during the reporting period, primarily due to the impact of project settlement progress and increased aging of accounts receivable and contract assets[18]. - The decline in prices due to offshore wind parity and insufficient market demand post "rush installation" led to lower capacity utilization and increased unit costs[18]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[20]. - The company's operating revenue for 2023 was approximately ¥1.69 billion, a slight increase from ¥1.63 billion in 2022, representing a year-on-year growth of about 3.1%[38]. - The net profit attributable to shareholders for 2023 was approximately ¥88 million, a significant decrease of 143% compared to ¥205 million in 2022[55]. - The net profit after deducting non-recurring gains and losses for 2023 was approximately -¥117 million, a decline of 340.14% from a profit of ¥49 million in 2022[55]. - The total assets at the end of 2023 amounted to approximately ¥7.73 billion, reflecting an increase of 8.86% from ¥7.10 billion at the end of 2022[55]. - The net assets attributable to shareholders at the end of 2023 were approximately ¥5.34 billion, a decrease of 1.22% from ¥5.41 billion at the end of 2022[55]. - The company reported a basic earnings per share of -¥0.41 for 2023, compared to ¥0.94 in 2022, indicating a decline of 143.62%[55]. - The weighted average return on net assets for 2023 was -1.64%, down from 3.80% in 2022, a decrease of 5.45%[55]. Market Outlook and Industry Trends - The offshore wind power industry is projected to continue rapid development towards larger scale and deeper waters, which aligns with the company's strategic focus[47]. - The offshore wind power industry is expected to see a significant increase in demand, with over 30 GW of grid-connected capacity still needed as of 2023, and large-scale construction anticipated in 2024-2025[68]. - The global renewable energy market is projected to add 7,300 GW of new capacity from 2023 to 2028, indicating a strong growth trajectory for the offshore wind sector[71]. - The cumulative installed capacity of wind power in China reached approximately 440 million kilowatts by the end of 2023, representing a year-on-year growth of 20.7%[88]. - The total installed capacity of renewable energy in China is projected to triple by 2030, driven by national carbon reduction goals[87]. - Global wind power capacity is expected to increase by 680 GW from 2023 to 2027, with China projected to account for over 40% of new installations[132]. Strategic Initiatives and Innovations - The company is actively exploring new technologies such as floating offshore wind power and hydrogen production from wind energy, which are expected to enhance the utilization of offshore wind resources[47]. - The company aims to leverage advancements in floating wind technology and explore new development models such as offshore wind hydrogen production to enhance growth[73]. - The company is focused on continuous improvement of its manufacturing processes, leveraging its technical expertise to enhance product quality and efficiency[110]. - The company is involved in multiple R&D projects, including the development of a 550-ton tower for offshore wind turbines, aimed at reducing production costs and improving efficiency[158]. - The company has completed the development of an 8.0MW offshore wind turbine single pile, enhancing welding quality and reducing labor intensity[200]. Operational Capacity and Challenges - The company’s operating capacity was relatively low during the period due to temporary market demand shortages[18]. - The company has achieved a high market share in offshore wind equipment but faces capacity constraints that may hinder its growth; new production capacity is expected to be released in 2024[103]. - The company has established multiple production bases, including in Dongying and Weihai, with the expectation that these will be operational by the end of 2024, enhancing its market coverage[113]. - The company has recognized the growing demand in the wind power industry, driven by government investments and improving consumption conditions[107]. Research and Development - The company has a strong emphasis on maintaining a stable operational scale, which is crucial for competing in the wind equipment market[116]. - The company reported an asset impairment of -¥109,411,909.66, which was 111.77% of total profit, mainly due to increased impairment provisions for contract assets[188]. - R&D expenses increased significantly by 86.40% to ¥24,945,483.61 in 2023 from ¥13,382,766.40 in 2022, primarily due to increased R&D investments[175]. - The company completed several R&D projects for offshore wind turbine towers, enhancing product quality and reducing production costs[177]. Government Policies and Support - The company is positioned to benefit from favorable government policies and incentives aimed at accelerating the development of offshore wind energy in China[73]. - The Chinese government aims to increase the total installed capacity of wind and solar power by approximately 160 million kilowatts in 2023[93]. - The company is focused on enhancing product specifications and improving manufacturing processes to boost competitiveness in the offshore wind energy sector[180].