GDPD(SH:600795) Xin Lang Cai Jing·2025-04-18 08:31Core Viewpoint - The company reported a revenue of 179.18 billion yuan for 2024, a decrease of 1.00% year-on-year, while the net profit attributable to shareholders increased by 75.29% to 9.83 billion yuan, primarily due to asset transfers [1] Financial Performance - The company achieved a revenue of 45.32 billion yuan in Q4 2024, a year-on-year increase of 4.69%, with a net profit of 640 million yuan compared to a loss of 16 million yuan in the same period of 2023 [1] - The profit distribution plan for 2024 includes a proposed dividend of 0.11 yuan per share, with total dividends accounting for 36.28% of the net profit attributable to shareholders [1] - The significant increase in net profit is attributed to the transfer of a 50% stake in Guodian Construction Investment, resulting in a one-time investment gain of approximately 4.6 billion yuan [1] Segment Analysis - The net profits from different energy sources in 2024 were as follows: thermal power 10.05 billion yuan (up 15.26 million yuan), hydropower 1.99 billion yuan (down 4.95 million yuan), wind power 1.06 billion yuan (down 2.78 million yuan), and solar power 867 million yuan (down 0.29 million yuan) [2] - The decrease in hydropower profit was mainly due to an impairment charge of 831 million yuan for the Daxingchuan hydropower station [2] - The company’s coal price for 2024 was 922.17 yuan per ton, a decrease of 12.79 yuan per ton year-on-year, leading to an increase in thermal power profit per kilowatt-hour [2] Production and Capacity - By the end of 2024, the company had a total installed capacity of 111.7 million kilowatts, with thermal power at 74.63 million, hydropower at 14.95 million, wind power at 9.84 million, and solar power at 12.28 million kilowatts [2] - The company plans to invest in 8 GW of thermal power and 4 GW of hydropower projects, with a capital expenditure of 74.1 billion yuan in 2025, similar to 2024 [4] Electricity Generation and Pricing - The total electricity generated in 2024 was 4,367 billion kilowatt-hours, a year-on-year increase of 1.59%, with thermal power contributing 3,470 billion, hydropower 590 billion, wind power 195 billion, and solar power 111 billion kilowatt-hours [3] - The average electricity price for 2024 was 429.82 yuan per megawatt-hour, a decrease of 7.97 yuan per megawatt-hour compared to 2023 [3]