GDG(SH:600098) Chang Jiang Shang Bao·2025-04-10 00:20Core Viewpoint - Guangzhou Development has achieved steady growth in operating performance, with record high revenue and net profit in 2024 despite challenging market conditions [1][2][3] Financial Performance - In 2024, the company reported revenue of 48.328 billion yuan, a year-on-year increase of 3.27%, and a net profit attributable to shareholders of 1.732 billion yuan, up 5.73% [1][2] - The net profit has increased for three consecutive years, with 2022 and 2023 showing significant growth rates of 686.80% and 20.98% respectively [2] - The company plans to distribute cash dividends of 0.947 billion yuan, with a dividend payout ratio of 54.67% [1][9] Operational Highlights - The company has faced challenges such as declining electricity prices and slowing coal consumption but has focused on reform and innovation to enhance operational capabilities [1][3] - In 2024, the company completed a power generation volume of 170.52 billion kWh and coal sales of 43.02 million tons, reflecting a 4.66% increase [7] - The company has expanded its natural gas supply to 5.5 billion cubic meters, a 9% increase year-on-year [7] Cost Management - Sales expenses decreased by 10.27% to 0.244 billion yuan due to cost reduction measures, while management expenses increased by 2.59% to 0.928 billion yuan [4] - Financial expenses rose by 31.97% to 0.934 billion yuan, attributed to increased financing scale and interest from new projects [4] Strategic Initiatives - The company is enhancing its industrial synergy by implementing a coal, gas, and electricity collaborative plan to build a "large industrial chain" [5][6] - The integration of various energy sectors, including renewable energy and energy finance, aims to optimize resource allocation and reduce financing costs [6][7] Shareholder Returns - Since its listing, the company has distributed a total of 10.341 billion yuan in dividends, with an average dividend payout ratio of 44.18% [9]