ZZEPC(SH:600023) Zheng Quan Zhi Xing·2025-05-23 08:11Core Viewpoint - Zhejiang Zheneng Electric Power Co., Ltd. has achieved significant operational milestones in 2024, including record-high electricity generation and net profit growth, while focusing on energy security and green transformation initiatives [1][3][22]. Group 1: 2024 Operational Highlights - The company completed an electricity generation of 173.952 billion kWh and a user-side heating supply of 35.5451 million tons, both setting historical records [1][22]. - The net profit attributable to shareholders reached 7.753 billion yuan, marking an 18.92% year-on-year increase [1][22]. - The company effectively managed challenges such as peak load demands and extreme weather conditions, ensuring stable energy supply and receiving awards for its performance [1][3]. Group 2: Strategic Focus Areas - The company aims to enhance energy security and supply capabilities, emphasizing the importance of maintaining a stable energy supply during peak periods [3][4]. - There is a strong commitment to green and low-carbon development, with ongoing projects in coal power and renewable energy sectors [3][4]. - The company is focused on cost reduction and efficiency improvement, implementing measures to lower operational costs while maximizing market opportunities [4][5]. Group 3: Financial Performance - The total revenue for 2024 was 88.003 billion yuan, with a decrease of 8.31% compared to the previous year, primarily due to lower electricity prices [22][25]. - The operating costs were reduced to 77.303 billion yuan, reflecting an 11.11% decrease year-on-year [22][25]. - The profit margin improved, with a net profit margin of 10.10% compared to 8.23% in the previous year [23][24]. Group 4: Governance and Compliance - The board of directors held 11 meetings and adhered to legal and regulatory requirements, ensuring the company's operations were compliant and transparent [1][2]. - Independent directors actively participated in decision-making processes, providing professional insights and ensuring the protection of shareholder interests [2][8][9]. - The supervisory board confirmed that the company operated within legal frameworks and maintained effective internal controls [7][10].