GDEP(600310)2024-05-17 09:37Financial Performance - The company's operating revenue for 2023 was approximately ¥16.72 billion, a decrease of 4.12% compared to ¥17.43 billion in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥1.66 billion, a significant recovery from a loss of ¥222.24 million in 2022[22]. - The net cash flow from operating activities decreased by 51.79% to ¥607.63 million in 2023, down from ¥1.26 billion in 2022[22]. - The total assets at the end of 2023 were approximately ¥18.41 billion, reflecting a 15.33% decline from ¥21.75 billion at the end of 2022[22]. - Basic earnings per share for 2023 were ¥0.0011, recovering from a loss of ¥0.1516 in 2022[23]. - The company reported a decrease in net profit due to reduced operating profits from hydropower generation, attributed to lower water inflow[24]. - The company’s net assets attributable to shareholders decreased by 7.98% to approximately ¥2.98 billion at the end of 2023[22]. - The company reported a total operating revenue of CNY 16,715.81 million, a decrease of 4.12% year-on-year, with electricity sales revenue increasing by 9.59% to CNY 3,977.71 million[47]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY, representing a 15% year-over-year growth[143]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.3 per 10 shares, totaling RMB 43,971,321.66, which represents 2,655.57% of the net profit attributable to shareholders for the period[5]. - As of December 31, 2023, the company's undistributed profits amounted to RMB 432,067,997.29, with RMB 388,096,675.63 carried forward to the next fiscal year[5]. - The company does not plan to increase capital through the conversion of capital reserves or issue bonus shares this year[5]. Risk Management and Compliance - The company has established a risk management framework, ensuring no significant production safety accidents occurred during the reporting period[38]. - The company has outlined potential risks in its management discussion and analysis section, emphasizing the importance of investor awareness[6]. - The company has confirmed that no other asset purchases or sales have occurred in the 12 months prior to the major asset sale[106]. - The company has fulfilled all necessary legal procedures and disclosure obligations related to the major asset sale, protecting the interests of all shareholders[106]. - The company has not reported any significant changes in shareholding among its directors and senior management during the year[137]. Operational Efficiency and Strategy - The company has implemented a flat management structure to enhance operational efficiency and reduce management layers[38]. - The company is focusing on expanding its market presence in surrounding cities and provinces[60]. - The company plans to enhance its renewable energy capacity, particularly in offshore wind, onshore wind, and solar projects, to strengthen its core business[122]. - The company aims to achieve a high-quality development cycle by balancing value creation and market realization[120]. - The company is committed to improving operational efficiency and asset quality while actively managing existing projects and developing new ones[120]. Environmental and Social Responsibility - The company invested RMB 1,785.9 million in environmental protection during the reporting period[175]. - The company has released 206,730 tons of CO2 equivalent emissions reduction through the use of clean energy sources such as hydropower and photovoltaics[183]. - The company has actively participated in ecological protection by releasing 580,000 fish fry into the Hongshui River to enhance biodiversity[182]. - The company contributed 692,500 CNY to various charitable projects, including educational support and community development initiatives[184]. - The company has established a mechanism for monitoring and assisting households at risk of returning to poverty, focusing on early intervention[187]. Research and Development - In 2023, the company invested CNY 9.6112 million in R&D, resulting in the acquisition of 3 invention patents and 8 utility model patents[38]. - Research and development expenses increased by 67.59% to CNY 9.61 million compared to the previous year[68]. - The company is investing 150 million CNY in R&D for new technologies aimed at enhancing energy efficiency[143]. - The company is committed to ongoing research and development of new technologies to improve operational efficiency and sustainability[153]. Corporate Governance - The company has established a comprehensive internal control system, with no significant deficiencies reported during the audit[171]. - The company has implemented a performance evaluation mechanism for senior management, linking compensation to performance and strategic goals[170]. - The company has appointed new board members and management with terms starting from November 21, 2023, to November 21, 2026[139]. - The company has seen a turnover in its board, with several members leaving and new appointments made during the reporting period[139]. - The company strictly adheres to information disclosure obligations, ensuring timely and accurate communication with shareholders[131]. Future Outlook - The company expects a 6% year-on-year growth in total electricity consumption in 2024, driven by macroeconomic factors and energy electrification[116]. - The company anticipates that the total installed capacity of new power generation will exceed 300 million kilowatts by the end of 2024, with new energy generation capacity surpassing 200 million kilowatts[116]. - The company plans to enhance communication with local governments and businesses to better understand market demand and improve power supply capabilities[125]. - The company aims to reduce coal costs by leveraging long-term coal contracts and controlling expenses, with a focus on improving the profitability of thermal power generation[122]. - The company is navigating a competitive landscape with increasing uncertainty in electricity sales and pricing due to ongoing reforms in the power sector[124].