JEP(SZ:000875)2024-04-29 12:09Financial Performance - Total operating revenue for 2023 was approximately CNY 14.44 billion, with a quarterly breakdown of CNY 4.02 billion in Q1, CNY 3.61 billion in Q2, CNY 3.39 billion in Q3, and CNY 3.42 billion in Q4[9]. - Net profit attributable to shareholders for the year was CNY 907.62 million, with a significant decline in Q4 resulting in a loss of CNY 177.25 million[9]. - Cash generated from operating activities totaled CNY 5.44 billion for the year, with Q4 contributing CNY 2.07 billion[9]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, with Q4 showing a net loss of CNY 166.39 million[9]. - The company has experienced fluctuations in its financial performance, with Q2 and Q3 showing positive net profits while Q4 resulted in significant losses[9]. - The company's operating revenue for 2023 was CNY 14,442,599,727.40, a decrease of 3.42% compared to the previous year[16]. - The net profit attributable to shareholders reached ¥908,417,734.74, an increase of 34.66% compared to the previous year[48]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥883,156,512.52, reflecting a decrease of 28.17% year-on-year[48]. - The net cash flow from operating activities was ¥5,445,203,480.10, down 25.70% from the previous year[48]. - The total cash inflow from operating activities was approximately ¥15.47 billion, a decrease of 11.82% compared to ¥17.54 billion in 2022[80]. - The net cash flow from operating activities decreased by 25.70% to ¥5.45 billion in 2023 from ¥7.33 billion in 2022[80]. - The company reported a significant decrease in operating costs for maintenance and other services, down 42.92% year-on-year[100]. - The company reported a net profit of 908 million yuan attributable to shareholders in 2023, reflecting a focus on quality development and operational efficiency[94]. - Total operating revenue for the year was 14,442,599,727.40 yuan, a decrease of 3.42% compared to the previous year[95]. Investments and Acquisitions - The company invested ¥8,162,225,994.25 during the reporting period, which is an increase of 11.05% compared to the previous year[58]. - The company completed the acquisition of Tongyu Tongzhao New Energy Co., Ltd. for approximately ¥262.68 million, achieving a 100% ownership stake[83]. - The company established Jilin Province Wangqing Pumped Storage Co., Ltd. with an investment of ¥257.60 million, holding an 80% stake[83]. - The company is actively expanding its market presence through acquisitions and new project developments in the renewable energy sector[83]. - The company has made several acquisitions to optimize its power structure and enhance profitability, including the acquisition of multiple new energy companies[195]. Renewable Energy Development - The company is focusing on energy security and green low-carbon development, aligning with national policies to optimize energy structure and promote clean energy[14]. - The company plans to enhance its market position through the development of hydrogen energy and energy storage industries, supporting low-carbon transitions in various sectors[14]. - The total installed capacity of the company reached 13.42 million kilowatts, with clean energy capacity accounting for 10.12 million kilowatts, representing 75.41% of the total[15]. - The company aims to develop a hydrogen energy industry cluster and has made significant progress in the hydrogen energy sector, positioning itself as a leader in green energy[94]. - The company plans to accelerate the development of large-scale clean energy projects, including the BaiCheng green electricity base and the DaAn green hydrogen base[94]. - The company is actively involved in the development of new energy generation businesses[67]. - The company aims to improve the profitability of new energy projects by engaging in green electricity trading and carbon trading[173]. - The company is actively pursuing a strategy focused on renewable energy, including hydrogen energy and advanced energy storage technologies, aligning with the "2035 first-class strategy" for development[198]. Market Position and Strategy - The company has been ranked 222nd in the global top 500 new energy companies for 2023, improving by 27 places from 2022[15]. - The company has established five new energy platform companies and three production operation centers nationwide, enhancing its cross-regional development capabilities[94]. - The company aims to exceed 20 million kW of installed capacity by 2025 and establish multiple national-level clean energy bases by 2030[108]. - The company is committed to expanding its market presence and exploring potential mergers and acquisitions to enhance growth opportunities[14]. - The company is actively pursuing new strategies in market expansion and technology development to enhance its competitive position in the renewable energy sector[122]. - The company plans to focus on core business development and enhance its competitive edge through strategic asset transfers[165]. - The company aims to lead energy transformation and upgrade while maintaining national development and focusing on high-quality growth[199]. Financial Management and Compliance - The company has committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming their responsibility for the report's content[22]. - The company does not plan to distribute cash dividends or issue bonus shares for the current year[23]. - The company adheres to the regulatory requirements of the Shenzhen Stock Exchange for the power supply industry[15]. - The company strictly manages unused raised funds, which are kept in bank-regulated accounts, ensuring compliance with fundraising management regulations[86]. - The company has a significant lease liability of 969,372,890.45 CNY reported[129]. Research and Development - Research and development expenses increased by 26.87% to ¥78.76 million, reflecting the company's commitment to innovation[121]. - The number of R&D personnel rose by 4.41% to 308, with R&D personnel now representing 8.43% of the total workforce[123]. - R&D investment amounted to ¥118.31 million, a 32.06% increase from the previous year, with R&D investment as a percentage of operating revenue rising to 0.82%[123]. - The company is developing a flexible system for green energy conversion and has applied for six invention patents related to this research[121][122]. - The company aims to reduce lightning strike failure rates in wind power collection lines by over 70% through the implementation of intelligent warning systems[122]. Risks and Challenges - The company faces potential risks, including electricity price risks[200]. - The company has experienced a significant impact from new laws and policies promoting green energy transition and carbon neutrality[33]. - The company is actively tracking the progress of the national electricity spot market and developing strategies to mitigate price risks[172].