GD ELECTRICITY(SZ:000537)2024-04-29 15:12Dividend Distribution - The company plans to distribute a cash dividend of 1.80 RMB per 10 shares to all shareholders, based on a total share capital of 2,066,602,352 shares[2]. - The company distributed cash dividends of 1.00 RMB per 10 shares, totaling 186,252,072.00 RMB, based on a total share capital of 1,862,520,720 shares as of December 31, 2022[121]. - The cash dividend distribution accounted for 100% of the total profit distribution amount[123]. Company Overview - The company was established in March 1986 and has been publicly listed since December 10, 1993, on the Shenzhen Stock Exchange[9]. - The registered address of the company is located in Tianjin Economic and Technological Development Zone, with a postal code of 300457[6]. - The company’s main business includes domestic trade, material supply, and the sale of various goods, including labor protection supplies and jewelry[9]. Financial Performance - The company's operating revenue for 2023 was approximately ¥3.69 billion, representing a 7.60% increase compared to ¥3.43 billion in 2022[13]. - Net profit attributable to shareholders for 2023 was approximately ¥919.58 million, a 45.14% increase from ¥632.70 million in 2022[13]. - The total assets at the end of 2023 were approximately ¥70.37 billion, an increase of 87.46% from ¥37.54 billion at the end of 2022[13]. Business Expansion and Strategy - The company reported a significant change in its main business scope, now including power generation, transmission, and distribution services, as well as emerging energy technology research and development[10]. - The company has expanded its business to include electric vehicle charging infrastructure operations and energy-saving management services[10]. - The company is actively involved in ecological restoration and protection services as part of its new business strategy[10]. Shareholder and Management Changes - The company has undergone multiple changes in major shareholders, with the latest being Shandong Luneng Group Co., Ltd. holding 20.017% of the total shares[10]. - The company experienced changes in its board and management, with several resignations and new appointments scheduled for December 28, 2023[96]. - The company’s board of directors and supervisory board underwent a restructuring, with non-independent directors and independent directors being elected for the new term[96]. Risk Management - The company emphasizes that forward-looking statements regarding future plans and market conditions are estimates and may not materialize, highlighting potential investment risks[2]. - The company faces risks related to policy changes that could impact market competition and project profitability, and it will closely monitor policy developments[77]. - The company acknowledges the impact of economic cycles on electricity demand and plans to optimize trading strategies to mitigate risks[80]. Research and Development - The company published 2 papers and applied for 2 patents related to joint wind and solar power forecasting technology[51]. - The company is developing an intelligent cleaning system for large photovoltaic power plants, which is expected to enhance cleaning efficiency and reduce costs[49]. - R&D investment amounted to ¥3,260,293.84 in 2023, down 69.12% from ¥10,557,792.95 in 2022[52]. Environmental Commitment - The company achieved a total power generation of 9.066 billion kWh and on-grid electricity of 8.796 billion kWh in 2023, resulting in a reduction of carbon dioxide emissions by 4.8976 million tons[132]. - The company is committed to achieving carbon peak and carbon neutrality goals by adopting advanced power generation equipment and technology[132]. - The company has established a comprehensive environmental management system to comply with environmental protection laws and regulations[132]. Corporate Governance - The company has established an independent financial department and accounting system, ensuring no interference from the controlling shareholder[91]. - The company has optimized 10 basic management systems in accordance with regulatory requirements[88]. - The company is focusing on compliance management, as evidenced by the approval of the 2022 compliance management report[108]. Community Engagement - The company donated a total of 1.43 million yuan across 4 charitable projects during the reporting period[134]. - A donation of 600,000 yuan was made to the Third Middle School of Delingha City for infrastructure improvements and educational support[134]. - The company was awarded the "Caring Enterprise" honor by the Delingha City government for its charitable efforts[134]. Future Outlook - The company plans to achieve an operational installed capacity exceeding 20,000 MW by the end of 2024, with new construction targets exceeding 20,000 MW[73]. - The company aims to build and operate an installed capacity of over 30,000 MW by the end of the "14th Five-Year Plan" period[73]. - The company has set a future outlook with a revenue target of 1.5 billion CNY for 2024, indicating a projected growth rate of 25%[103].